First, congratulations to former Republican US senator Jon Kyl from Arizona, who will fill McCain’s Senate seat at least until the end of the year and hopefully until 2020 when a special election will be held.
Nikitas3.com believes that we can count on Kyl to support Supreme Court nominee Brett Kavanaugh and other parts of the Trump agenda, unlike McCain. Good.
Now here is today’s main commentary:
Britain voted in June 2016 by a significant 52% to 48% margin in favor of the so-called ‘Brexit’ plan to withdraw from the European Union.
Socialists worldwide went haywire and predicted economic armageddon for Britain. The hysteria was just a precursor to the frenzy over president Trump’s election.
When Donald Trump was elected president of the United States in November 2016, winning 57% of the electoral votes, the same socialists predicted an economic apocalypse with “Nobel Prize winning” columnist Paul Krugman at the New York Times forecasting disaster. But on the evening after president Trump was elected The Daily Caller reported:
New York Times opinion writer and economist Paul Krugman predicted early Wednesday morning that the stock market will “never” recover from Donald Trump’s presidential victory, only to be proven spectacularly wrong in less than a day. Instead of collapsing, the Dow Jones Industrial Average surged to an all-time high shortly before the closing bell.
Marketwatch.com then reported on November 8, 2017:
On the one-year anniversary of Donald Trump’s win in the U.S. presidential race, the Dow Jones Industrial Average is showing its biggest post-Election Day gain in more than 70 years.
The Dow has advanced 28.50% since (election day) Nov. 8, 2016.
The Dow’s big jump since Election Day was not exactly widely expected… According to the WSJ Market Data Group, which looked at data going back to 1896, the average 12-month gain following Election Day is 6.04%, with Republican presidents seeing an advance of 8.03% on average and Democrats seeing a rise of 3.55%.
So why should we ever trust Krugman again? Good question. His prediction was based on his political bias and not on any type of expertise. He is not even an economist anyway; he is an economic theorist and a far-left political commentator.
Meanwhile in communist Venezuela millions of people are literally starving and the economy has totally collapsed yet commentators like Krugman and his cronies have conveniently said virtually nothing about the policy disasters that have led to the collapse. No, they are too busy ignoring the roaring American economy and fantasizing about impeaching Trump.
As many nations in Europe languish economically here are some of the positive things that are happening in Britain today. These positive numbers are based on economic optimism over Britain’s coming exit from the European Union, which is expected to be complete by 2021. This is from Jack Montgomery at Breitbart News:
… Bloomberg (reports) that “Foreign buyers led by Hong Kong billionaires and Korean securities firms spent more on the UK capital’s offices in the first half (of 2018) than in central Paris, Manhattan, Munich, and Frankfurt combined”, helping London to “cement its position as the No. 1 city for real estate investment from overseas”.
The Reuters news agency reported this week that the UK’s Pound Sterling currency had “extended its lead as the king of currencies despite Brexit vote”, noting “London is likely to continue to be one of the world’s top two financial centres”. Finding that forex trading in London had grown by 23 per cent in the past two years, the wire service stated this was double the pace of the nearest rival, the United States: “London has dominated the foreign exchange market for nearly half a century.”
… British manufacturing is also performing well, in part thanks to the cheaper, more competitive post-referendum pound, with the latest Industrial Trends Survey showing output growth remains well above the long-term average, and more firms reporting stronger total order books, export order books, and volume of output than not.
Shouldn’t this all be bad news as the socialists predicted?
It should be, but it is great news, just like the US is seeing great economic news under Trump that was called impossible by the liberals. And this is what the socialists do not want us to see – that Britain is thriving after voting to free itself from the stifling European Union bureaucracy while America is prospering by freeing itself from the stultifying policies of the past.
There is something else that is happening in Britain and the US that are similar: Many “establishment” (left-wing) forces in Britain have been trying to delay or thwart the Brexit plan (i.e., thwart the will of the people and the prosperity that they want) just as left-wing anti-Trumpers and their media cronies in the US are seeking to overturn the will of voters from the 2016 election.
The British website The Sun website reported on June 7, 2018
Theresa May has admitted Brexit could be delayed once again leaving Britain tied to the EU until the end of 2021 or even longer.
In an attempt to head off a row with the Brexit Secretary David Davis, the Prime Minister agreed to put a date on when the Irish border “back-stop” plan will end.
The Prime Minister is battling to maintain Cabinet unity on Brexit
This means that unless an agreement is made on fixing how trade would be monitored between Northern Ireland and the Republic, the UK would be tied to Brussels rules on trade until December 2021 – effectively delaying Brexit once more.
Our exit had already been pushed back until the end of 2020, after a so-called “transition period” was put in place in order to give negotiators a longer time-frame to agree a long-term trade deal.
And the document which outlines the fall-back option, published this lunchtime, said the Government only “expects” to be finally un-entangled from EU rule by December 2021.
This wording – which has been labelled a “fudge” by MPs – means it could be even longer before we (Britain) truly strike out on our own.
These delays are a last-ditch attempt to kill Brexit just as the socialists are seeking to depose president Trump and thwart his agenda through day-by-day obstruction, criticism and investigation.
Meanwhile the US media are totally ignoring the roaring Trump economy which many business leaders and businesspeople are calling the best they have ever seen. The Atlanta Fed is predicting 4.6% growth for the third quarter after Democrats said over and over that we would never even get to 3% again. This comes after years in which the Obama economy stagnated.
The so-called ‘great recession’ statistically started in September 2008 and ended in June 2009, five months after Obama took office. Yet we went another 5 years in stagnation under Obama policies. The economy only started to pick up in 2014. Do you know why? Do you know what changed?
It happened because “fracking” for oil had brought in abundant new supplies starting in 2013. This brought down gasoline prices from almost $4 a gallon (remember that?) to almost $2 a gallon and even less in some places.
Based on federal Energy Information Administration reports of 142 billion gallons of gasoline consumed in the US in 2017, this price drop meant a reduction in nationwide gasoline costs of as much as $250 billion per year that allowed American consumers to keep and spend $250 billion more of their own money. This was a massive and natural ‘stimulus’ that greatly spurred the economy.
And who opposes “fracking”?
Obama and his Democrat and ‘green’ cronies oppose it, that’s who. And certainly the socialists in Britain who oppose Brexit.
Meanwhile Trump policies that are fueling economic growth include ‘fracking’ for oil and natural gas, and energy independence from Middle Eastern sources.