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Bill Owens: Confusing And Confounding Events 3/18/19

The House has passed a resolution condemning bigotry.  This is certainly a good idea in light of Congresswoman Omar’s comments.  They also included language on a number of other topics which again was certainly appropriate.  I, too, am concerned about Congresswoman Omar’s allegations as I, during my time in Congress, was a member of the Irish Caucus, attended many events at the Irish Embassy and at the Ambassador’s home, expressing my support for the Irish Republic.  Do I have duel loyalties? No more than my friends who support Israel.  America is a land of immigrants and having pride in one’s history is not to be criticized. 

It appears that a new species (although we are awaiting DNA testing) of killer whales has been discovered off the tip of South America.  As we grow increasingly concerned about the impact of global warming, plastic deposits in the ocean, and other traumas being visited upon our oceans, the discovery of a healthy new species should be a bit of joy for us all. 

The economy added just 20,000 jobs in February, which is the worst month since September 2017, and represents 180,000 decrease versus the expected numbers 200,000.  Importantly, manufacturing added only 4,000 jobs, which continues to raise the question as to whether or not POTUS’ trade strategy is having any effect on manufacturing.  Also of note, mining and logging are down as was construction with these sectors suffering the greatest loss of jobs.  We need to see March before suggesting a trend.

Mr. Kudlow, POTUS’ economic advisor announced that trade deficits are not important, contrary to Mr. Trump’s position.  Most economists agree however, with Mr. Kudlow. Mr. Trump built his trade policy on that fallacy.  Just another example of POTUS not listening to experts and drifting down a path that appears not to have focus. In  other words, Mr. Trump decided to impose stiff tariffs on steel and aluminum imports, and ultimately, on China because of widening trade deficits.  Tarde deficits are growing. 

The Feds put together a case against people trying to get their kids into college; this is embarrassing at so many levels and a huge waste of money. The disregard for societal rules has reached a new low.  Will POTUS congratulate these defendants or offer a Presidential pardon?

The Brexit deal, drafted by Mrs. May, was voted down Tuesday, March 12, Wednesday a no-deal exit was voted down, Thursday a delay was voted up. Problem is ALL other EU Countries must agree by March 29 to an extension of the exit. Good luck with that.    This leaves Mrs. Theresa May in a very difficult posture as the votes against her were again substantial although not at the previous record, putting down her prior proposal.  This follows much in the way of the negotiation with the EU which appeared to present some changes although obviously not sufficient to meet the varying views in the British Parliament.  There are only two weeks left until March 29th when Britain must exit the EU and, without a plan, this is very troubling.  The collateral damage includes the Border between the Irish Republic and the remaining British province in Ireland, Ulster.  This could have dramatic negative impacts on both these regions as travel back and forth will require going through Immigration and goods may well be subject to tariffs which have been trading freely for many years.  It appears the British have again done it to the Irish.

Boeing’s 737 Max has made news over the last several months for all the wrong reasons.  With 350 now in service design flaws and software glitches apparently resulting in 2 crashes have grounded this fleet worldwide.  We will all await the FFA and Boeing disclosures.

The U.S. Senate voted 59-41to override the President’s emergency declaration a day after voting to end funding for the Saudi War in Yemen.  Senate Republicans rebuke POTUS twice in one week.

Mr. Trump announced on March 14, 2019 that he’s prepared to walk away from a trade deal with China if he doesn’t like it.  Beginning to sound like North Korea.  Mr. Navarro declares that POTUS’ trade policies are making great strides- farmers see declining exports, trade deficits are widening, manufacturing jobs declined last month- the question is who’s benefiting, maybe the Russians? 

Mr. Owens is a former member of Congress representing the New York 21st, a partner in Stafford Owens in Plattsburgh, NY and a Senior Advisor to Dentons to Washington, DC.

The views expressed by commentators are solely those of the authors. They do not necessarily reflect the views of this station or its management.