Steve Bannon Out At White House

“We are grateful for his service and wish him the best.”

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The Only Government System That Actually Works Is The One With No Populism In Its Design

” At a time of rock-bottom confidence in public institutions, it is notable that the intelligence oversight system, a system with hardly a trace of populism in its design, actually works effectively at its core purpose: assuring the public that the intelligence community is doing its job within the law.”

Bring Back The “Smoke-Filled Rooms”: You’ve Proven You’re Too Stupid To Vote

“Moreover, voter irrationality, like voter ignorance, is intractable because, paradoxically, it is in one important respect quite rational. Individual votes matter infinitesimally and becoming informed is expensive, and so it makes sense to treat voting as a way to express one’s emotional state, declare one’s group identity, or indulge one’s prejudices.”

It Did “Happen Here” – Now How Can Republicans Fix It?

“Trump has turned out to be far, far worse than I imagined. He has instituted policies so right wing they make Ronald Reagan, for whom I worked, look like a liberal Democrat.”

We’re Devolving: “It Used To Be That Politics Only Trumped Econ In Emerging Markets – Not Anymore”

“Yet, the chart which struck me as most relevant in the whole thing showed how market response to either Fed or ECB meetings has become calmer and calmer, whereas the response to the three major G7 political events of the last year (and a bit) has been so dramatic.”

A Brief History Of The Next 30 Years

“Capitalism is exiting the historical scene. However, before it disappears, capitalism will continue to inhabit the world of undead.”

Reality Check: Rolling Back Globalization Is A Really Stupid Idea

“But rolling back globalisation would be as foolhardy as rolling back technological change.”

It’s The Politics Stupid! BIS Flags A “Scary” Change In The Market’s Mindset

“Underlying a number of these changes was a shift of market participants’ attention away from monetary policy and towards political events.”

Russell Shuffle Day, Brexit Anniversary, & Crude Carnage

It’s Russell reshuffle day, which means equities will likely be jarred out of any summer lull, if only for a moment. As Bloomberg notes, “in four of the last five years, reconstitution day ranked in the 10 busiest trading sessions, [but] at the same time, it rarely triggers big price swings in the market.” It’s…

Trader: Markets Need To Be Exposed To Politics Just Like The Rest Of Us

“Ultimately, there can’t be normalization without exposing markets to the same concerns as the citizenry at large. The divide in levels of being appalled by goings-on is dangerous and as much a fuel of populism as other, more obvious causes.”

Guest Post: A Hole In The Head Or, The Fetishism Of A Failed State

“It is not difficult to recognize shades of this pattern in the political life of the developed world of the last year. The tide is coming in.”

Dear America: “Something Is Not Right!”

In the middle of one night

Miss Clavel turned on the light

And said, “Something is not right!”

Guest Post: Populism, Pornography, And The Nostalgia Of Greatness

“Everything is explicit, but the plot cannot be taken seriously.”

“President’s Day”: Iran Is Voting, Brazil Is Panicking, Trump Is Traveling

It feels quiet in America on Friday morning. Maybe that’s because Donald Trump is leaving the country for eight days. Which means that for more than a week, we can all pretend like this nightmare isn’t real. my plane pic.twitter.com/o7jDiam0vP — Trump Draws (@TrumpDraws) February 3, 2017 But it’s actually quiet overseas as well. There’s…

Are These The Most Worrying Numbers Of All For Donald Trump?

“The erosion of white men [and] white voters without college degrees are red flags that the administration simply can’t brush away.”