It’s a strange sensation, having so many topics of interest that you can’t develop a coherent thought on any of them. The past two years have been a theme-park ride of insanity, but this week we reached a new level. Unfortunately, it seems clear that the chaos, absurdity and failures of this administration will accelerate before the crash.
All I can offer is a quick recap of a few high points.
The Dow lost 6% of its value this week after we discovered that the president was lying about a deal he had reached with the Chinese. OPEC is scrambling to respond to a 30% collapse in oil prices over the past few weeks, a harbinger of slowing economic growth around the globe. The Fed’s Beige Book summary of economic activity describes the impact of Trump’s random tariffs starting to reach as far as restaurants, with a warning of far more serious effects next year. The S&P just recorded its worst month since November 2008. Ukraine is threatening to test the Russian blockade of the Kerch Strait. Filings by the Special Counsel on Friday revealed planned collaboration between Trump and the Russians going back to 2015. A suit by several state AG’s over Trump violations of the Emoluments Clause was allowed to go forward, including subpoenas of tax records from the Trump organization.
And because the week still wasn’t quite weird enough, the head of the Bundy clan in Nevada came out publicly in opposition to Trump’s treatment of immigrants.
For a little extra fun, take a look at what Google displays as its leading results from a news search for the phrase, Steele Dossier:
Which one of these search results is news? Why, none of them, of course. If you’re wondering why so few people seem to understand the fundamentals of what’s happening around them, you could start with that image.
I like writing and thinking about policy. However, with the compass spinning so furiously there seems little point talking about issues, plans, or policy. We may spend the next few years just hacking our way through the damage from this administration before we can even begin to think about building a future.