The Wall-to-Wall Absurdity of Trump's Folly

by Nomad

If President-elect Trump has his way, he will leave as his legacy one of the most embarrassing and expensive monuments to one man's vanity in American history. The Wall, otherwise known as "Trump's Folly."

The Folly of Donald Trump

In the 19th century, when some self-important character became transfixed by a foolish notion, the public would name it after him by calling it his "folly." It was a way of bringing home the public shame to a personal level. To use modern parlance, the fool would be made to "own" his act of stupidity.

President-elect Donald Trump has, for quite some time, been obsessed with his own particular folly- the building of a monumental wall between Mexico and the US, as a means of stopping the flow of illegal immigrants.   

"This will be a wall with a big, very beautiful door because we want the legals to come back into the country."

The idea was to first deport the millions of illegal immigrants in the US and then seal them out with a wall. Later, we could let them filter back in an orderly fashion.
(Now, even the mass deportation aspect seems to be undergoing a drastic re-think.)

"I will build a great wall -- and nobody builds walls better than me, believe me --and I'll build them very inexpensively.

However, the man who thinks going bankrupt is a clever business strategy has, according to the numbers crunchers, underestimated the costs of construction by perhaps a full half.

Who Really Murdered Manufacturing Jobs in America and Why That's Important in November

by Nomad

American workers have every reason to be angry. For a crafty politician, it's the kind of emotion that wins elections. However, the question is whether they have fully understood who was responsible for their plight.

The Angry Unemployed American Male

The last half century of American history has been marked by one undeniable economic trend: the death of the American worker. Between 1965 and 2015, experts say that employment rates for the American male spiraled relentlessly downward. 

In September, a TIME Magazine article pointed out:

America is now home to a vast army of jobless men no longer even looking for work—more than 7million between the ages of 25 and 54, the traditional prime of working life...The collapse of male work is due almost entirely to a flight out of the labor force—and that flight has on the whole been voluntary. The fact that only 1 in 7 prime-age men are not in the labor force points to a lack of jobs as the reason they are not working.

The Atlantic Monthly provides a little more information:

Poor men without a college degree are disappearing from the labor force. The share of prime-age men (ages 25-54) who are neither working nor looking for work has doubled since the 1970s.

This is, not too coincidentally, the core support of Republican nominee Donald Trump's campaign.

Russian Sanctions on Turkish Fabric Imports Halt Production of Anti-Turkish T-Shirts

by Nomad

With relations between Turkey and Russia at an all-time low, T-shirt designers in Russia are learning about the peculiar twists of globalization.

In need of a good irony fix? Well, Nomad does house calls!

You may have heard about the falling out between Russia and Turkey after the downing of a Russian bomber which had likely violated Turkish airspace for all of 17 seconds. One pilot was killed by rebels conducting target practice on parachuting Russians. 

Both sides had their own versions of what happened and things got meaner and nastier. A "stab in the back" was how the clearly-flustered Putin put it. Erdogan claimed to right to defend his national airspace.

Tit for tat snipes quickly were followed by the imposition of trade sanctions.
That's no small matter either.

In 2014, trade between the two countries amounted to $31 billion, and in the first nine months of 2015, to $18.1 billion. Turkey Russia’s eighth largest trading partner, while Russia is Turkey’s second largest trading partner, after the European Union. For different reasons, both economically-troubled nations do not need this hiccup.

Why Elaine Chao, Wife of Mitch McConnell, Could Help Sink his Re-election Bid 1/3

by Nomad

In this three-part post, we take a closer look at the career of Elaine Chao, wife of Senator Mitch McConnell. She is one-half of the Washington power couple.

No Trophy Wife

In the last few weeks, the wife of Mitch McConnell, Ms. Elaine Chao, has jumped feet first into the campaign. 

Strategists probably thought what McConnell's flagging re-election bid really needed was a pretty face. Clearly, the public is fed up with looking at Mitch's sour mug.  

However, Ms. Elaine Chao is by no means a trophy wife. Among her many accomplishments, Ms. Chao was the Secretary of Labor in the George W. Bush presidency from 2001 to 2009. 

In that regard, it was perhaps a risky decision to have her make an appearance. 

Cleverly the GOP strategists have thrown a smokescreen over any real discussion of Elaine Chao. Here's how they did it.  In the last few days, the Republicans have attempted to turn the tables on the left by claiming that a left-winger made a rather stupid tweet about the fact that Choa is an Asian and was not born in Kentucky.  The GOP quickly seized this opportunity to charge "racism" -which given the source is perhaps ironic.

To be sure, Ms. Chao has never attempted to hide her background. On the other hand, it's also hard to tell the Elaine Chao story without at least noting her ethnic background. That in itself is not racism. After all, Republicans have used every opportunity to use Ms. Chao's Asian background when it benefited them.  

How Ms. Chao got to where she is today is indeed a fascinating story. A suspect charge of racism shouldn't prevent a careful look at her history and her career.

Chao's Bootstraps

Pulling oneself up by the bootstraps is all the rage for conservatives but wise researchers should take all that malarky with a grain of salt. The Christian Science Monitor profiled Chao telling its readers how she "began her life in this country with nothing."

It really depends on how one describes nothing. As any investor will tell you, nothing is something if you have what they call "access. " Being in the right place with a set of diverse and powerful connections in high places is often worth more than gold in pocket.