On the Record | Brexit Britain Must Ally with America

Please see my February 22^nd wire for The American Spectator, ‘Brexit Britain Must Ally with America’:

Is it conceivable that Brexit passions are spent in Westminster? Have political exertions of the last four years — of devising stratagems and repelling Remainers — exhausted the fervor for independence? For while some MPs may be world-weary, rank-and-file Brexiteers are only beginning to feel their oats.

Brexiteers are not content merely to take back power from Brussels. They want to take back power from Westminster, too. They want what is rightfully theirs: self-government, in their politics and in their persons. “Oppressions and dissatisfactions being permitted to accumulate — if ever the governed throw off the load,” John Dickinson wrote of popular disaffection, “they will do more.” To wit: “A people does not reform with moderation.”

If Brexiteers are gung-ho, why is their prime minister gummed up? Last week’s Cabinet shuffle suggested Boris Johnson, satisfied with taking Britain out of the European Union, is less eager to follow British independence to its logical conclusion: downsizing Whitehall. Instead, as Breitbart London’s James Delingpole reports, the Government’s focus is becoming, “Are you with us or against us?”

The Brexit baffle now threatens to impact Britain’s global agenda. The prime minister postponed a planned February meeting (itself pushed back from January) with President Donald Trump, rescheduled to the G7 summit meeting in June at Camp David.

Downing Street responds that a pressing domestic agenda, plus the need to marshal resources for global trade deals — let alone finessing the EU for December’s trade deadline — requires the prime minister to prioritize. One official used a Lord of the Rings analogy to explain the prime minister’s reasoning to the London Sun. “When the Eye of Sauron is off the Whitehall machine,” the Sun was told, “things stop working.”

More ominously, Britain’s decision to award Huawei a major role in structuring the UK telecom industry has dismayed the Trump administration. Breitbart London reports Trump “slamming the phone down” with Johnson, angered by Britain’s failure to heed warnings from the United States (and other allied countries) about the security threats posed by the Chinese company. Johnson is anxious not to antagonize the president, but ignoring him is not the route to realizing imperative U.S.–UK cooperation.

Confronting such condemnatory consensus, Johnson would be wise to reappraise his Huawei decision. But neither American nor British conservatives must be diverted from their larger objectives. The leader of the rightist European Reform Group in Parliament, Steven Baker, is adamant. “We need to be negotiating with the U.S. now,” Baker asserts. “Time is running out with our best ally as we head to a presidential election.”

Securing a free trade deal with America is clearly a priority. Leaked elements on Brussels’ trade scenario with Britain — in comprehensive fields of finance, fisheries, tax, and regulatory policy, to name but a few — leave no doubt the EU plans to humiliate the UK. A U.S.–UK deal is ever more vital, both as a means of forcing an EU “rethink” and in the likely event no compromise from the Continent is forthcoming.

“Reinforcing” the radical Anglo-American agenda to upend the statist status quo is another reason why comity between Trump and Johnson is so vital.

Read more . . .

Remarks are welcome on DMI’s Facebook page.

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My thanks to editor Wlady Pleszczynski of The American Spectator.

On the Record | Political Bonus for Early U.S.–UK Trade Negotiations

Please see my February 4^th wire for The American Spectator, ‘Political Bonus for Early U.S.–UK Trade Negotiations’:

America and Britain are on the cusp of a conservative revolution, if only their leaders have the courage to take action and the foresight to see the potential that lies before them. Of the people, there is no need to ask: The people are ready, “mouldering on the vine” (to paraphrase the musical “1776”), “for want of it.” Only those enriched by state emoluments stand opposed, poised to squelch any serious efforts to upend the status quo. So patriots beware.

President Trump’s impeachment in the U.S. Senate, for actions that warrant little more than censure (or less), is a distraction, a ploy to depress supporters’ resolve. Meanwhile, however much Britons may welcome repose after their exertions on behalf of Brexit, this is not the time to rest on their oars.

Now is the time to act. Britain’s post-election momentum, following Boris Johnson’s December win of a majority parliament, cannot dissipate. America is already in pre-election mode, with President Trump already rallying supporters to “keep America great.” Both countries must strike out to finish the job of returning power to the people.

Decentralizing power away from Washington and Westminster does more than simply return responsibility to legitimate spheres of action. It doesn’t happen in a vacuum. Those that are re-empowered — whether the states, communities, or individuals themselves — become active collaborators, enabling a dynamic element that strengthens local autonomy and perpetuates its hold over popular imagination and initiative.

“There is nothing more important for those who think they believe in freedom, in free enterprise and in private property,” Murray Rothbard realized, “than bringing these high-flown generalities to bear on the concrete problems of their daily lives.”

That the revolt against over-government is rising, simultaneously, in the United Kingdom and the United States, is no coincidence. Margaret Thatcher and Ronald Reagan were collaborators in a revolutionary movement toward minimal government and personal freedom. Disciples are undaunted, half a century later.

In June 2016, their paths converged again. Donald Trump was set to become the Republican presidential nominee when a majority of Britons (17.4 million) cast ballots in the EU referendum to exit.

Once more, opponents of the popular mandate set out to frustrate efforts to scale back government intrusion. And, in fairness, U.S.–UK leaders who were elected to bring power back to the people have let themselves get caught up in their adversaries’ tactics and allowed precious time to lapse. They can redeem themselves, but they need focus. A game plan going forward is imperative.

Read more . . .

Remarks are welcome on DMI’s Facebook page.

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My thanks to editor Wlady Pleszczynski of The American Spectator.

On the Record | Beware of Supposing Brexit’s Cause Is Won

Please see my January 27^th wire as Brexit diarist for The New York Sun, ‘Beware Of Supposing Brexit’s Cause Is Won’:

“Can we easily leave the remains of such a year as this? It is all still gold,” the diarist Horace Walpole wrote as Great Britain won conquest after conquest, at France’s expense, during the final months of the Seven Years’ War. “Our bells are worn threadbare with ringing for victories.”

Yet much to the disappointment of Brexiteers, “Big Ben,” which crowns that iron choir atop the Elizabeth Tower, will “not” sound out at 11 p.m. when the United Kingdom takes its leave of the European Union and regains independence.

“What we obtain too cheap, we esteem too lightly,” the Anglo-American revolutionary, Thomas Paine, wrote in the opening of “The Crisis.” “ ’Tis dearness only that gives everything its value.”

No one can claim that Brexiteers have had an easy time of it. Eurosceptics exposed the insidious nature of EU membership from the beginning. Prime Minister Thatcher marked the turning point with her “Bruges Speech” of September 1988, in which she famously declared: “We have not successfully rolled back the frontiers of the state in Britain, only to see them re-imposed at a European level with a European super-state exercising a new dominance from Brussels.”

The ups and downs on the road to Brexit are too numerous to count. There was the successful June 2016 referendum to “take back control,” followed by the disastrous premiership of Theresa May, whose decision to go to the polls precipitously in June 2017 nearly ended Brexit. The resulting “Remainer Parliament” was perhaps its worst outcome — second only to Mrs. May’s compromised Withdrawal Agreement. Remainer MPs, meanwhile, kept the Tory Government tied up in knots and subject to the whims of Westminster.

In this dark hour for British independence, arises its paladin premier, Boris Johnson, who on the charge of “getting Brexit done” won electoral victory in December. The promise was that come January 31, the UK would be out of the EU. And so it is about to come to pass.

Read more . . .

Remarks are welcome on DMI’s Facebook page.

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My thanks to editor Seth Lipsky of The New York Sun.

On the Record | Brexit Cries Out for Radical Toryism

Please see my January 18^th wire for The American Spectator, ‘Brexit Cries Out for Radical Toryism’:

The year 2020 is only just begun and already there are expectations of repeating the promise of the early 1920s, an era of peace and prosperity early in the decade. Nowhere is this enthusiasm more evident than in the United Kingdom.

Last year ended with the Conservatives forming a majority government and Prime Minister Boris Johnson vowing that, with the power of the people behind him, he would take the country out of the European Union by the end of January. Further, he would negotiate a mutually beneficial trade deal with the Continent by the end of the year.

Failing to reach such a deal, Johnson is committed to making a “clean-break” Brexit and refocusing efforts on global bilateral trade deals. President Trump announced that his administration is eager to complete such a deal, with Commonwealth countries such as Canada and Australia anxious to follow suit.

Such, in part, are the Conservative government’s foreign objectives. What of its domestic agenda? Is Brexit only about Britain’s independence from the suzerainty of the European Union? What about independence for Britons at home? The late Sir Roger Scuton recognized the obstacles to leaving the comforts of the EU, but also the untapped possibilities that lay ahead. “It will be difficult, almost as difficult as our future inside the EU,” Sir Roger admitted. “But if we can unite and face our new condition with courage, we can renew our nation and its standing in the world.”

Read more . . .

Remarks are welcome on DMI’s Facebook page.

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My thanks to editor Wlady Pleszczynski of The American Spectator.

On the Record | Let the States Roar

Please see my latest post for the Quarterly Review, ‘Let the States Roar’:

Notice is given from its ‘Constitutional Affairs’ department that ‘The New York Sun . . . opposes a balanced budget amendment.’

The justification cannot be that The Sun favours deficit spending, for the broadsheet prides itself as a tribune for limited government, fiscal probity, and sound money — grounded on the Gold Standard.

An awareness of the speed of unforeseen circumstances is one likely scenario for the editorial stance: allowing for contingency language written into a balanced budget amendment to take into account war or domestic necessity requiring its temporary suspension, The Sun may reason that even such foresight would frustrate government efficacy.

This observer can only speculate. But one germane objection to a constitutionally mandated balanced budget arises in relation to criticism of the supply-side economic revolution of the 1980s. While true that lowering high marginal tax rates can increase government revenues — the famous Laffer Curve axiom — such tax reform itself is not conclusive of prudent government policy. No responsible tax proposal comes without its corollaries: limited government and budgetary restraint.

Read more . . .

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My thanks to editor Dr Leslie Jones of the Quarterly Review; and my appreciation to Foundation for Economic Education president, Lawrence Reed, for his assistance to me in framing America’s indebtedness.

On the Record | Donald Trump addresses America’s Debt

Please see my latest post for the Quarterly Review, ‘Donald Trump addresses America’s Debt’:

‘The Open Conspiracy.’ That is what Henry Hazlitt, the renowned New York journalist, called the political effort to ‘monetise the debt’ by inflating the currency so that U.S. government debts incurred to-day will cost less to pay to-morrow; or, as is the case, years into the future — if ever.

But in an interview with CNBC on 5^th May, Donald Trump, presumptive Republican presidential candidate, took a swing at the conspiracy by matter-of-factly stating that, as President, he would seek to restructure the payment of U.S. Treasury bonds at lower returns.

Trump then cracked the conspiracy wide open four days later, acknowledging America’s — and all countries with fiat money — dirty little secret: ‘you never have to default because you print the money’.

And, in the process, Trump unleashed yet more political opprobrium upon his head.

Read more…

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My thanks to Dr Leslie Jones of the Quarterly Review; and my appreciation to Professor Steven Kates of RMIT University for guidance on calculating inflation.