Our Summer Of Discontent

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere   
The ceremony of innocence is drowned;
The best lack all conviction, while the worst   
Are full of passionate intensity. –  W.B. Yeats
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As we expected, the rivets are beginning pop in Washington and in the American body politic,
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We are expecting a Summer of Discontent. That is increased political instability, which will eventually weigh on the markets.  We are the only out there with this call and it is not even close to the market’s radar. – GMM, April 25th,
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It’s Mueller Time on Capitol Hill next week and the debt limit looms.  The ugly scene that took place in Congress today (see below) doesn’t exactly grease the skids for a debt deal.
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The political noise is about to spike, folks.
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Have your ear plugs ready and keep an eye on the American Street.
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A divided House voted Tuesday to condemn President Trump’s racist remarks telling four minority congresswomen to “go back” to their ancestral countries, with all but a handful of Republicans dismissing the rebuke as harassment while many Democrats pressed their leaders for harsher punishment of the president.

The imagery of the 240-to-187 vote was stark: A diverse Democratic caucus cast the president’s words as an affront to millions of Americans and descendants of immigrants, while Republican lawmakers — the vast majority of them white men — stood with Trump against a resolution that rejected his “racist comments that have legitimized fear and hatred of new Americans and people of color.”

…McCarthy rose to attack Democrats afterward, calling it “a sad day” for the House. “Our rules of order and decency were broken today,” he said.

But Democrats said the day, in fact, was a long time coming — a rare occasion on which members of the Republican caucus have been forced to go on the record regarding Trump’s rhetoric. Since Trump has tightened his grip on the GOP, many lawmakers in his party have gone to great lengths to avoid criticizing him, fearful of the president’s wrath sinking their electoral chances.

“This resolution is harassing the president of the United States,” said freshman Rep. Dan Meuser (R-Pa.). – Washington Post

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1 Response to Our Summer Of Discontent

  1. Pingback: Summer Of Discontent Cometh | Global Macro Monitor

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