"The Month That Was - October 2016"
Sydney M. Williams
The Month That Was – October 2016
November 1, 2016
“I’m so glad I live in a world where
there are Octobers.”
Lucy
Maud Montgomery (1874-1942)
“Anne
of Green Gables” 1908
The election, Mosul, Yemen, Hurricane Matthew, Bob Dylan, Chicago Cubs,
Tom Haydn. They all made news in October. Apart from the Cubs and Bob Dylan,
most of the news (as is so often the case) was bad. In the case of the
election, it was dispiriting. On a happier note, October is leaf season in New
England. This year, at least in my part of Connecticut, it was vibrant. The
DEEP (Department of Energy and Environmental Protection), which publishes every
year “The ten best places to see fall foliage in Connecticut,” did not this
year include Essex, Lyme or Old Lyme among their recommendations. Not to take
anything away from other parts of the State, but it is hard to beat the
contrast between the blue of the Connecticut River and the green of evergreens
that line its bank, with the golds and reds of our color guard – Oaks, Maples,
Beeches, Hickories, Sumacs and Birches.
The October “surprise” was the bombshell emanating from a letter FBI
Director James Comey sent, after first alerting the Department of Justice, to
senior members of Congress. In the letter he asserted that, after submitting a
laptop that belonged to Anthony Weiner and his estranged wife Huma Abedin to
metadata analysis, his only choice was to re-open the e-mail case against Hillary
Clinton. While Democrats rose up in alarm, they have no one to blame but
themselves. Mrs. Clinton chose to use a private e-mail account and server. She
chose to lie about its use and chose to cover-up what she had done. She had
e-mails destroyed. Her husband met covertly with Attorney General, Loretta
Lynch. The Administration went along with her shenanigans, as did the Democrat
establishment. These revelations not only expose Clinton corruption and the
immorality of the Administration and the Justice Department, they could well
determine the outcome of the election. Regardless, this “surprise” is
symptomatic of an awful election year. If Hillary wins and the data shows she
is indictable, what happens? If she loses and the data exonerates her, what happens?
Donald Trump was blamed for the rudeness of his remarks – deservedly
so, as his words are pathological, uncouth and insensitive. But the press paid
little attention to the lies and corruption of Hillary Clinton, and overlooked
the discord inspired by the ideological leanings of Barack Obama. His high
ratings obscure the fact that it was Mr. Obama who set the agenda over the past
eight years. It was Mr. Obama who proclaimed “I won” at the start of his first
term and who failed to make peace with those he had defeated. ObamaCare would
not be the mess it is today, had he been less patronizing and more conciliatory
seven years ago. The world we live in and the policies that have made it so – a
Middle East in chaos, Israel abandoned, rising threats from China and Russia,
an anemic economic recovery, racial discord and polarization of the electorate –
is the world Mr. Obama is bequeathing us. A study last year by London based
International Institute for Strategic Studies noted that 63 armed conflicts in
2008 resulted in 56,000 deaths. In 2014, 42 armed conflicts produced more than
three times as many deaths – 180,000. Mr. Obama cannot blame Bush, or
Republican leaders. This is his world. Why would anyone want more of the same?
Reaction could be consequential. The downswing of a pendulum’s parabola
is equal to its upswing. The further left we move – increased government regulation;
Executive Orders; politicians isolated from those they represent; unaccountable
federal agencies; wealth transfers; inequality; failing public schools; corruption
– the further right will be the response. Professor Justin Gest of George Mason
University, in his book The New Minority:
White Working Class Politics in an Age of Immigration and Inequality, suggests
that 65% of white Americans would support a European-style far-right party. I
have no idea if Professor Gest is correct. I hope he is wrong, but actions have
reactions. According to a poll conducted by the World Economic Forum and
released in October, thirteen of the twenty emerging markets rated as having
the most trustworthy politicians in the 2016 survey were rated as “not free.”
One example is Tunisia, the sole democratic success of the 2011 Arab uprisings.
In 2010, its politicians were ranked 15th most trustworthy. This
year they were ranked 63rd. Mr. Obama may not bear sole
responsibility, but he was leader of the free world during the past eight years
when freedom and democracy began to fail.
Yemen has become ground zero in the fight between Sunnis, backed by
Saudi Arabia, and Shiites, backed by Iran. The U.S. is involved – in a limited
way – but on the seas, in the air and on the ground. Yemen, a country of 25
million, is among the world’s poorest. No one knows exactly how many people
have been killed, but estimates through August were at least 10,000, half of
whom were civilians. On October 8, 140 people were killed in a funeral hall,
allegedly by Saudi-led airstrikes. A week later, an American destroyer, the USS
Nitze, was attacked by Iran-financed Houthis while navigating the Bab el-Mandeb
waterway between Yemen and East Africa. The ship returned fire, destroying
Houthi-controlled targets. The situation today is a far cry from two years ago
ago. Then, following a series of successful Drone attacks against al Qaeda
targets in Yemen, Mr. Obama called the country a success.
The war against ISIS is Shakespearean in its complexity and tragedy. Russia,
our ally against ISIS, is allied with Assad who is our enemy. Iran also supports
Assad. ISIS is the enemy common to us, Russia, Turkey, Iraq, Kurds and Assad. Kurds
have enemies in Turkey and Iraq. The losers are Syrian freedom fighters, who
the West has refused to arm, and who are fighting both Assad and ISIS. Turkey,
geographically close to both Aleppo and Mosul, has a self-interest in the outcome.
Turkish President Erdogan has assumed dictatorial powers, and is a risk to
peace in the region. ISIS is like the Greek mythological monster Hydra. When
one head is lopped off, two more grow in its stead. In the meantime, the
destruction of Aleppo, in the northwestern corner of Syria, continued during
the month. Photographs of orphaned and homeless children, of ancient buildings
in ruin, were gut-wrenching. In Iraq, the battle for Mosul began, with the U.S.
playing the role of advisor, but with the real work being done by Kurds and the
Iraqi military. The goal is to dislodge ISIS, who use civilians as human
shields. Mosul lies on the banks of the Tigris, in northern Iraq, not far from
the Syria and Turkey borders. No recent American President has inherited a
peaceful Middle East, but the next President will inherit a far messier situation
than anything we have seen before.
During the month, 52 people in Ethiopia were killed in a stampede
during an anti-government protest. The Philippines pivoted away from their
long-time alliance with the U.S. when President Rodrigo Duterte announced a
“separation,” and stronger ties with China. By the 9th of October,
the number of people killed in Haiti by Hurricane Matthew had exceeded 1,000.
Colombians rejected the the pact with FARC, because drug couriers and rebels
were getting off too lightly. Nevertheless, The Nobel Committee awarded the
Peace Prize to their President Juan Manuel Santos. China’s President Xi Jinping
was named “core” leader, equating him with Mao Zedong. Antonio Guterres, former
Socialist Prime Minister of Portugal, current Secretary of Socialist
International and head of the UN’s refugee program was elected to replace Ban
Ki-moon as Secretary General of the United Nations. Freedom’s decline persists.
The largest merger of the year was announced when AT&T said they
would buy Time Warner for $85.4 billion. Wall Street voted with their feet the
next day, sending both stocks lower. Italy, near default not long ago, issued
€5 billion, 50-year bonds with a yield of 2.85%, and Austria issued €2 billion
in 70-year bonds with a yield of 1.53%! Wells Fargo & Co. chairman and CEO
John Stumpf, resigned, an ignominious end to an otherwise illustrious career.
Sterling fell 6% against the Dollar for the month. New York’s Governor Cuomo
signed a bill that will essentially ban Airbnb from operating within the state.
Preliminary third quarter GDP came in at 2.9%, the best numbers this year, but
below expectations. U.S. stocks traded lower, with the S&P 500 declining 2%,
from 2168.27 to 2126.15.
The World Series is a battle between two perpetual losers. It has been 108
years since the Chicago Cubs won the Series, and 71 years since they won the
National League pennant. The Cleveland Indians last won the World Series in
1948. As the month ended, Cleveland led the series three games to two.
In other news, there were two more Presidential debates and a Vice
Presidential debate during the month. While audiences were large, I doubt many
minds were changed. The National Museum of African-American Art opened at the
Smithsonian. It hails Anita Hill, but ignores Clarence Thomas. The Orange
County Republican Headquarters in Hillsborough, North Carolina was firebombed. The
death toll in North Carolina from Hurricane Matthew reached twenty-two. Bob
Dylan won the Nobel Prize for Literature. The politically incorrect satirist
Jesse Wright, a man who finds nothing sacred, was criticized by the Left as
racist. New York City scrapped a requirement that licensed cabbies learn
English. The Obama Administration surrendered U.S. oversight over the worldwide
network to a multinational organization, ICANN – the Internet Corporation for
Assigned Names and Numbers. The mystery of the Bermuda Triangle, located
between Miami, Puerto Rico and Bermuda, was allegedly solved after
meteorologists discovered odd “hexagonal” – shaped clouds, between 20 and 50
miles wide, forming over the area. They are, in essence, air bombs, formed by
microbursts that can reach 170 miles per hour. Twenty-nine year-old Pete
Kostelnick ran from San Francisco to New York City in 42 days, beating the
prior record by four days. He averaged 72 miles a day – almost three marathons
a day for six weeks!
When Islamic terrorists don’t strike our country for a few weeks we
forget the brutality of their attacks. But the rest of the world does not. In
the first two weeks of October there were 112 such attacks by Islamic terrorists,
in the Middle East, Africa and Asia that killed 955 people. Included were 284
civilians who were executed by ISIS at the Agricultural College in Mosul. The dead
do not include the 140 people who died in the Saudi airstrike in Yemen. In the
second half of the month, during a three-day period, 151 people were killed – 30
civilians, as an act of reprisal, in the norther n city of Feroz Koh,
Afghanistan; an attack on the Police Training College in Islamabad, Pakistan
that killed 59; and 62 dead in four incidents in one day in Baghdad. Islamic
extremists may be off our front pages, but they remain as deadly as ever.
Thailand’s long-serving King Bhumibol Adulyadej died after seven
decades on the throne. Vicente Bermudez Zacarias, the Mexican judge in the ‘El
Chapo’ case, became the first federal judge assassinated in ten years. He was
37 years old. Tom Haydn, the 1960s anti-war activist, whose name will be
forever linked with the Chicago-7 trial and his ex-wife Jane Fonda, died at age
76. Wodehouse fans lost Lieutenant Colonel Norman Murphy, the founder of the
British branch of the International P.G. Wodehouse Society, and the author of In Search of Blandings, a 1981 tale of
his search for the original of Lord Emsworth’s family castle. Col. Murphy was
noted as an after-dinner speaker, where he was sometimes compared to a
machinegun, as his words tumbled out without stop, often mixing Latin with
English. I once accompanied him on one of his foot tours of Mayfair. He walked
as fast as he spoke. Norman Murphy was 83.
In a week, this dreadful election will be over. Nobody will be
satisfied, as neither candidate is liked. Those who claim that Donald Trump is
unfit to be President ignore the fact that Hillary Clinton, as her e-mails have
shown, is also unfit and undeserving of the office. The best outcome would be a
stalemated government. Gridlock, remember, is democracy’s answer to political
extremism. We have survived more difficult times, including a Civil War; so we
will get by, even if it seems that we won’t. Lucy Montgomery had to be thinking
of fall foliage, not of the 2016 Presidential election. On to November!
Labels: Economic and Financial, Global, politics, The Month That Was
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