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DISRUPTIONS, CHAO AND THE MAKING OF FORTUNES; WHAT DRIVES INCOME INEQUALITY IN AMERICA

6/5/2020

The Collapse of Entitlement Federalism
Chris Pope, City Journal
The coronavirus crisis has become a crisis of federalism, as states face plummeting revenues and soaring entitlement obligations. Despite $340 billion in emergency funding through the CARES Act and a $50 billion hike in federal assistance for Medicaid, states remain deep in the red. The National Governors Association has called for an additional $500 billion in “unrestricted fiscal support” to help meet budgetary shortfalls, and House Democrats have made further assistance for states a centerpiece of their proposed $3 trillion HEROES Act. Read more here....

A bad economic idea is back in fashion
Desmond Lachman | The Hill
When something is unsustainable, it will eventually come to an end. Don't expect unsustainable public debt to be any different.

What’s really driven income inequality in America?
James Pethokoukis | AEIdeas

With low interest rates, should we really ignore budget deficits?
Desmond Lachman | AEIdeas

Currency Devaluations Boost No One
John Tamny, RealClearMarkets

Is a UBI Worth the Cost?
Veronique de Rugy, Reason

STATE SPENDING ON POLICE VS. EDUCATION

https://www.amazon.com/Start-Up-Saboteurs-Incompetence-Thinking-Creation/dp/1642796956

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CHINESE INFLUENCE IN KOREA, IRAN & TURKEY COLLAPSING

6/2/2020

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Iranian military-owned Conglomerate Sets Up Shop in Venezuela

The Old and New Persian Empires
Eliora Katz | Research Analyst

A Chronicle of a Lost Decade Foretold
Yanis Varoufakis drafts a preliminary history of the 2020s, which could end looking nothing – and everything – like the 1930s.

"Why Erdogan Won’t Ask the IMF for Help," Aykan Erdemir and John Lechner, Foreign Policy
"China’s Coercion Threatens ROK-U.S. Alliance," Mathew Ha, FDD Policy Brief
"Wanted: A Strategy for Long-term Peacetime Competition With China," Emily de La Bruyère and Nathan Picarsic, FDD Policy Brief

Greece said Monday that it is determined to oppose plans by Turkey to expand oil-and-gas exploration in the Mediterranean Sea, in a deepening regional dispute over mineral rights. – Associated Press

Ryan Gingeras writes: Whatever does happen, Turkey’s present commitment to its “blue homeland” policies appears contingent upon two critical factors. Firstly, Turkey’s maritime posturing, as conjured up by Gürdeniz, Yaycı, and others, has captured the imagination of a broad swath of the Turkish political establishment. Calls for a determined defense of the country’s expansive “mavi vatan” echoes the combative, independent spirit of Ankara’s contemporary foreign policy. At present, there is little incentive for Turkey to deviate course. – War on the Rocks

Michael Rubin writes: If Egypt seeks to pressure Ethiopia over the Great Renaissance Dam, the best way for Cairo to move forward would be to take diplomatic or economic action against the dam’s foreign financiers. But Sisi’s current approach will fail: The weapons his government has allegedly provided the Somali government are far more likely to end up in the hands of anti-Egyptian radicals than those who seek to counter Ethiopia. Perhaps, for the sake of regional security, it is time for the Trump administration to stop turning a blind eye to Egypt’s weapons trade. – Washington Examiner

Mohamed Eljarh writes: As Moscow seeks to strengthen its engagement with the eastern Libya bloc and Ankara builds its military footprint and influence in Tripoli, Erdogan and Putin could repeat their attempt to hijack international diplomacy on Libya with an Astana-like process, presumably favoring Turkish and Russian interests over Libyan ones where convenient. If there is no major shift in dynamic, it is these two countries that will dictate the future of Libya. So far, as the United States continues to exhibit lack of interest or serious engagement and Europe remains divided without a clear common policy on Libya, it remains likely that Turkey and Russia will continue to occupy their roles as shapers of Libya, especially if Russia continues to increase its military and political involvement at the same pace. – Washington Institute

Dmitriy Frolovskiy writes: Reliance on the impartial intermediary approach and realpolitik might be effective to an extent as a way of building bridges with autocratic incumbents, but evidence suggests that Russia’s leadership fails to fully grasp the potential for growing popular unrest in the Middle East. Prone to disruptions, the Kremlin’s approach could still deliver geopolitical gains in the years to come, as signs suggest has been the case with Russia’s growing military presence in Libya. But the region’s changing dynamics might not only offset these gains, but also turn Russia’s involvement into a costly endeavor, wounding it both at home and abroad. – Middle East Institute

Who Has the World’s Largest Economy?
Jeffrey Frankel shows that the United States remains far ahead of China in terms of the metric that really counts.

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MONITARISM, SANCTIONS & TERROR FINANCING

DISRUPTIONS, CHAO AND THE MAKING OF FORTUNES; WHAT DRIVES INCOME INEQUALITY IN AMERICA

CHINESE INFLUENCE IN KOREA, IRAN & TURKEY COLLAPSING

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