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      No, central banks aren’t screwing the economy up with their purchases: Veolia (Paris:VIE) has issued a 500 million 3-year EUR bond (maturity November 2020) with a negative yield of -0.026 %, which is a first for a BBB issuer. To be clear, central banks didn’t buy those bond, investors did. But central bank purchases of […]
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Are we great again yet?

Australian journalist Chris Uhlman weighs in:


The Trumpsters can cheer him on all they want but it will be cold comfort when we sink to “Venezuela after Chavez” levels of decline. If liberals suffer, there’s a pretty good chance Trumpsters are going to suffer too. 

You might not have to be a politician to be president. But you do have to be smart enough to learn on the job. The verdict is in and Trump isn’t that smart. 

More from the Washington Post:

The divisions were most bitter on climate change, where 19 leaders formed a unified front against Trump. But even in areas of nominal compromise, such as trade, top European leaders said they have little faith that an agreement forged today could hold tomorrow. 
Macron said world leaders found common ground on terrorism but were otherwise split on numerous important topics. He also said there were rising concerns about “authoritarian regimes, and even within the Western world, there are real divisions and uncertainties that didn’t exist just a few short years ago.” 

See President Trump as he travels abroad for the G-20 economic summit
View Photos The president made his way to Germany for the meeting of world leaders after a stop in Poland. 

“I will not concede anything in the direction of those who are pushing against multilateralism,” Macron said, without directly referring to Trump. “We need better coordination, more coordination. We need those organizations that were created out of the Second World War. Otherwise, we will be moving back toward narrow-minded nationalism.” 

German Chancellor Angela Merkel, who hosted the summit in the port city of Hamburg, said there had been some areas of agreement. But she did little to hide her disappointment about U.S. actions on climate change. 
“Wherever there is no consensus that can be achieved, disagreement has to be made clear,” Merkel said at the end of the summit. “Unfortunately — and I deplore this — the United States of America left the climate agreement.” 
“I am gratified to note that the other 19 members of the G-20 feel the Paris agreement is irreversible,” Merkel said. 
Perhaps as a way to emphasize global unity — minus the United States — Macron announced there would be another climate summit in Paris in December to mark the two-year anniversary of the climate accord.

 
On trade, G-20 leaders agreed to try to address what the White House claims is a global steel glut. Trump officials have threatened to restrict steel imports, risking the start of a global trade war, after it has repeatedly alleged that China subsidizes the industry, which helps it lower prices and put U.S. steel jobs at risk. 
The promises to draw up policy changes on steel production were a victory, White House officials said. 

Did I just hear Macron loudly hint that Trump, and by extension US, might not be invited to the climate meeting in Paris this December? Someone should pin him and Merkel down on that. Leaving us out of that kind of meeting would rather definitively indicate America’s Lack of Greatness. 

Gosh, I hope Trump isn’t looking after Pittsburgh again. We didn’t ask him to and we don’t particularly like his way of engreatening us. 

This isn’t 1980 and there aren’t that many steel mills here anymore. Does he expect us to give up our IT, banking, robotics and healthcare jobs to become mill hunks again?  
It’s not like the children of former steel workers are yearning to return to the blast furnaces. Most of them weren’t even born when Pittsburgh was a steel behemoth. 

I guess we are lumped together with the coal miners in Trump’s mind. Those jobs aren’t coming back either. What is going to happen to all those thousands of coal miners who voted for him who think they can go back into the mines and do what a handful of operators and machinery can do in a fraction of the time and cost these days?  

He really has no idea what’s going on in America and he’s stupidly trying to fix the wrong problems. It’s not going to end well when he fails to deliver and he turns on his base and starts blaming them for bringing poverty on themselves. It’s going to happen.  

Nothing is ever his fault. 

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