In the Prospect, David Dayen explains how deficit-witch-hunting and hubris paved the way for Brexit. particularly David Cameron and the Tories’ “general belief in expansionary austerity, that you could cut your way to prosperity. For those that don’t recall, this led to the brink of a triple-dip recession, and terrible growth numbers for years and years…What Leave offers, a toxic stew of isolation and racism, isn’t any good either. But when elites spend this long doing nothing for large swathes of the population, they’re willing to listen to anyone with a different idea.”
Since the UK’s faceplant last week, there’s been some talk (and. for some, wishful thinking) that Brexit is the prelude to Trump, fact-free appeals and all, and lord knows we spent far too much time of late playing the austerity game also. But I’ll stand by my “nope, not gonna happen” prediction here: The UK electorate is 90% white, America’s is one-third non-white — That’s a big difference, and the same sorts of nativist appeals just aren’t going to play here anymore — which I am very thankful for.
Still, Brexit is another sterling example of how, when people are justifiably angry about being screwed over, many of them may not vote in their best interests. And it’s emblematic of one of the more insightful comments I’ve heard recently about 2016 (and unfortunately I can’t figure out where I first saw it): When you have Latin American levels of inequality, you’ll end up with Latin American politics.
Those are the main things, of late. but let’s see: what else can I tell you? Well, after many years back in the workforce, and freelancing when I can — gradual school: kids, don’t do it — I’ve been able to extricate myself at last from the usual post-grad pit of penury and get back in black. Of course, retirement is only 25-30 years away now, so…
Sounds like a plan. But, so far, buying SunEdison (nee SUNE, now SUNEQ) was an out-and-out disaster — thankfully, I got out a few months before the final collapse. That hasn’t helped the solar ETF (TAN) either. And of the twenty or so stocks I’m currently holding, a good handful of them are just dogs: I’m looking at you, Twitter (TWTR), Fireeye (FEYE), and Teladoc (TDOC). (On the flip-side, my best picks so far are ATVI (Activision), Adidas (ADDYY), and Intuitive Surgical (ISRG).)
Anyway, I’m probably boring you with all this. (I also presume getting more into the markets is a general aging thing — just wait until this turns into a golf, tennis, and back-pain blog.) But, I thought I’d mention it, since, while this isn’t going to be Seeking Alpha anytime soon, I may be inclined to post more Wall street-type stuff here in the future.
But, just in case you’re thinking GitM has put away childish things…
One additional boon of Funko-buying, besides it scratching that old Star Wars figure itch: It really adds structure to your mall-crawls. For decades, I’ve been like, eh, these stores are all boring. Now, I’m all “hey, this mall has a Hot Topic, a Gamestop, and an FYE. To arms!
Next big trip: our honeymoon, which will include a week+ in Vietnam (probably doing Ho Chi Minh City and Da Nang/Hue/Hoi An, while leaving Hanoi and Halong Bay for a future trip) and a week+ in Japan (Tokyo, Mt. Fuji, Osaka/Kyoto, and possibly Hiroshima). If you have any travel suggestions, feel free to drop them in the comments.
I saw Weiner, The Lobster, and The Witch over the long weekend, all worth seeing for different reasons. I’ve been picking up new shows in Mr. Robot and Preacher, while keeping up with Game of Thrones, Better Call Saul, The Flash, and the like.
Since Arkham Knight and Fallout 4 are done, and my rogue is all kitted out and waiting for Legion, most of my gaming time these days involves Hearthstone (great for the walk home) and the recently-released Overwatch, a.k.a. Blizzard’s stab at Team Fortress 2. (I mostly play Reaper, even if my name — Jacklowry — isn’t all that Reaper-ish.)
Nope, life is good. Very good. The only real issues these days are the general dismal state of politics, rampant inequality and poverty, encroaching climate change, etc., but those are issues for the rest of the blog.
In the NYT, historian Timothy Egan notes Paul Ryan’s rhetorical debt to those who helped perpetrate the Great Hunger in Ireland. “You never hear Ryan make character judgments about generations of wealthy who live off their inheritance, or farmers who get paid not to grow anything…Dependency is all one-way. ‘The whole British argument in the famine was that the poor are poor because of a character defect,’ said Christine Kinealy, a professor of Irish studies and director of Ireland’s Great Hunger Institute at Quinnipiac University. ‘It’s a dangerous, meanspirited and tired argument.'”
Among them, of course, Leo O’Bannon: On its 100th anniversary, BBC surveys the enduring popularity of Danny Boy. “All the flowers are dying, and they will be for a long time, but then they’ll bloom again and Danny will still be on the road. You never know, because somewhere the pipes, the pipes will be calling.”
Did the old songs taunt or cheer you? And did they still make you cry? The Pogues’ Phil Chevron, 1957-2013. “In 2007 he was diagnosed with esophageal cancer. His last appearance was at a testimonial concert in his honour in Dublin in the summer.”
Not from The Onion: The Northern Ireland town of Enniskillen preps for the G8 summit by constructing a Potemkin village untouched by Britain’s disastrous austerity measures. “This is one big initiative really stemming from the Foreign Office in London. This is David Cameron’s gig. It’s his invitation, it’s his decision to host the G8 in County Fermanagh, which is, don’t forget, part of the United Kingdom.”
“‘The potential for exit in terms of emigration is huge and it’s a major part of the Irish story’…’Ireland is on the verge of losing a whole generation. People are simply not able to get a job in Ireland, not happy with the quality of life here and they are upping and leaving.“
Faced, like so many other nations, with a bank-fueled financial meltdown and a grueling austerity program to make up the slack (sound familiar?), the Irish are — well, according to Reuters at least — either leaving or taking it in stride…for now. “‘It’s a cultural characteristic of the Irish people,’ said portrait photographer Kevin Abosch as he strode down O’Connell Street. ‘Generations of pacifism have been bred into them.’“
Particularly as I was just writing up The Town, it reminds me of that line from The Departed: “If we’re not gonna make it, it’s gotta be you that gets out, cause I’m not capable. I’m f**king Irish, I’ll deal with something being wrong for the rest of my life.”