The Three Risk Factors that Could Derail Trump's Economy

The president is setting the theme for the November congressional elections: Return control of the House and Senate to Republicans and let the good times roll. It’s a message that sells itself. And the good times probably will roll, barring a negative effect on the so-called real economy of three developments: the end of what seemed an inexorable rise in share prices, a wave of protectionism, and political turmoil caused by the possible impeachment of the president.

02/17/18 5:45 AM

Jeff Bell was George Bailey

To those who knew him well, Jeffrey L. Bell was a real-life George Bailey: an accomplished and decent man who shaped important events by helping others achieve their own greatness, mostly without recognition himself.

I knew Jeff exactly 40 years, almost half his life and (so far) two-thirds of mine. The fictional George Bailey in the movie It’s a Wonderful Life saved the life of his kid brother, who went on to be a war hero, meanwhile George fought the Battle of Bedford Falls, keeping it from becoming a sleazy Pottersville. Like him, Jeff had the gift of making it possible for great men, notably Ronald Reagan and Jack Kemp, to achieve their own greatness, while helping many lesser lights to shine brighter than they ever

02/17/18 12:01 PM

The Influencer: Jeff Bell, 1943-2018

When I first encountered Jeff Bell, he was debating Bill Bradley, the Democratic candidate for Senate from New Jersey. Bell was the Republican candidate and the underdog to Bradley, a famous basketball star at Princeton and later for the New York Knicks. It was 1978.

Bell was talking about tolls on a bridge, a tedious subject he managed to make interesting. If the toll was $5, not many cars would pay to cross the bridge, he said. A $1 toll, however, would attract so many cars it would earn more money than a toll five times larger.

The toll analogy was Bell’s way of justifying tax cuts. They incentivize. They give people and companies more money to spend and invest, produce and create jobs.

02/17/18 1:31 PM

Building Biltmore

One night over dinner, Mark Twain and his neighbor Charles Dudley Warner decided to write a satire skewering the postbellum culture of excess. They took their novel’s title from a line in Shakespeare’s King John: “To gild refined gold, to paint the lily . . . is wasteful and ridiculous excess.” The Gilded Age emerged as a delicious mockery of the over-the-top extravagance of America’s new-rich industrialists, whose ethics anticipated Mae West’s belief that “too much of a good thing can be wonderful.

02/16/18 3:00 AM

Marshall Law

In October 1797, 42-year-old John Marshall arrived in Paris with Charles Pinckney and Elbridge Gerry, the three of them constituting an official American commission charged with defusing tensions arising from the larger war between England and France. Both belligerents were seizing American ships thought to be trading with the enemy, and relations between the Jeffersonian Republicans, who favored the French, and the Federalists and President John Adams, who tilted British, were growing more acrimonious. The commission was to meet Talleyrand, the French foreign minister, who embodied both the ancien régime and the new revolutionary fervor (though his greatest cause was himself). He was well educated, rich, and powerful.

02/16/18 3:00 AM

The Divine (Situational) Comedy

The Good Place is the most unexpectedly profound show on television. NBC’s afterlife sitcom, which just concluded its second season, stars Kristen Bell as an impostor in paradise and Ted Danson as her supernatural overseer. It begins by skewering shallowly sentimental ideas of heaven and then transitions to asking (sincerely!) how a bad person can become good. You know the show is something special when the Kierkegaard jokes start and don’t let up.

Bell plays a selfish woman named Eleanor Shellstrop who’s let into “The Good Place” by mistake and realizes she has to learn ethics to blend in.

02/16/18 4:33 PM

TERZIAN: A parade of horribles: Trump makes his critics look foolish—again

Say what you will about Donald Trump’s intellectual acumen, but he does have a certain flair for drawing attention in directions he desires—or better yet, prompting his detractors to say things he wants them to say. This may not be “genius” in the usual sense of a much-abused term, but it’s a political talent of a very high order—especially impressive in a president whose political wounds tend to be self-inflicted.

The latest case in point: his suggestion that the annual Bastille Day parade in Paris—featuring troops on the march and mechanized hardware—has inspired him to sponsor a similar event here in Washington.

The reaction to this bright idea was instantaneous and

02/16/18 3:00 AM

Mueller Indicts 13 Russians, 3 Groups for Election Meddling

Probe to continue.
Feb 16, 2018
In his first public indictment of 2018, special counsel Robert Mueller on Friday announced charges against 13 Russian nationals and three organizations for conspiring in secret to destabilize America’s political institutions. The indictment, signed by Mueller and approved by the special counsel’s grand jury, charges that beginning in 2014, Russians traveled to America under false pretenses, committed identity theft against real American citizens, and set up fraudulent bank accounts and payments in order to foment online and real-world political discord among the American people.  Read more

Running Before You Vet

Feb 16, 2018
It’s relatively common for terror organizations to claim credit for atrocities that they actually had no part in. When a casino was targeted for an arson attack on the Philippines last year, for example, ISIS claimed the “credit.” (The word, in fact, should be “blame.”) Yet it later emerged that the attack was perpetrated by a deeply indebted Filipino gambler—there was no terror link at all. Claiming false "credit" is an obvious way for declining, or irrelevant organizations to get an easy publicity burst. Point to an atrocity somewhere, say: Hey, we did that!, and watch the attention roll in.  Read more

What's Next for DACA?

After a series of failed votes on Thursday, Senate Republicans doubt they'll revisit the issue soon—but not never.
Feb 16, 2018
After dedicating three days of floor time and casting a grand total of four votes on different proposals to address the precarious future of 700,000 unauthorized immigrants who were brought to the country as children, the United States Senate is taking a week off. And when lawmakers return from their holiday, most Republicans say they’ll be ready to move on to other issues. “I don’t see us coming back to it for some weeks,” North Carolina Republican Thom Tillis said Thursday afternoon. “I mean, when we get back, we have the spending bill that’s going to consume time ... So we come back the week after next. I know that we have a banking bill. We’ve got a lot of nominations. We’ve  Read more

Fact Check: Did Florida School Shooter Nikolas Cruz Train with a White-Supremacist Group?

Probably not.
Feb 16, 2018
As noted in our most recent fact check, false information is easily spread in times of chaos and confusion. Early reports are often incorrect or incomplete and information surrounding the horrific school shooting in Florida on Wednesday is no exception. Facebook users marked a story on the shooting from the website Woke Sloth as potentially containing unsupported claims. “The most recent school shooter was a Trump supporter who trained with White Nationalists” the post, which has been viewed tens of thousands of times, reported. Today the disturbing news broke that [Nikolas] Cruz had trained with an armed white supremacist group, the Republic of Florida (ROF).  Read more

Black and White, Campus Craziness, and Bari Weiss

Hosted by Charlie Sykes.
Feb 16, 2018
Today on the Daily Standard Podcast, Andy Ferguson and Adam Rubenstein discuss "white and black," the craziness raging on college campuses, identity politics, and manufactured controversy targeting Bari Weiss. This podcast can be downloaded here. Subscribe to THE WEEKLY STANDARD's iTunes podcast feed here.  Read more

What the SpaceX Success Means for the Moon, Mars, and More

Feb 16, 2018
On February 6, 2018, the SpaceX Falcon Heavy took flight, demonstrating a capacity to lift 60 tons to low Earth orbit while playfully sending a Tesla Roadster on a trajectory that will take it beyond the orbit of Mars. To add to the coup, two of the Falcon’s three booster stages flew back to land gracefully together at the Cape, while the third barely missed pulling off a recovery landing on a drone ship stationed downrange.  Read more

Searching For the New Vice Chair for the Federal Reserve

There's a very good candidate out there.
Feb 16, 2018
What should be the requirements for the next vice-chair of the Federal Reserve? At present these are elementary, I believe, and each one points to the same person. First, the job should be for a bona fide economist. Jay Powell is intelligent and capable by all accounts, and he has no doubt learned much from his five years on the Federal Reserve Board, but his lack of graduate training in the field represents a significant lacuna in his resume that needs to be compensated for in some way. It is important that he be able to work closely with someone who knows the models the fed economists use and is thus able to alert him when too much faith is being put into their output.  Read more

Prufrock: Trump's 'Faith,' the Future of Wood, and the Art of Reading in a Digital Age

Also: Science's inference problem, the ghost of C. S. Lewis in the novels of Neil Gaiman, and more.
Feb 16, 2018
Reviews and News: Will cities of the future be built with wood? Maybe: “Teng Li, a University of Maryland mechanical engineer, created with his colleagues wood that’s as ‘strong as steel, but six times lighter,’ he said. Liangbing Hu, Li’s co-author on the study, added, ‘This kind of wood could be used in cars, airplanes, buildings—any application where steel is used.’ Making it is just a two-step process.” Russell Moore sees the ghost of C. S. Lewis in the novels of Neil Gaiman. David Bentley Hart revisits the life and work of David Jones: “As a poet, Jones was at least the equal of Blake (and certainly less prone to magnificent failures); as a visual  Read more

Watch Out San Francisco. Here Comes Arizona.

Creative new policies have the Grand Canyon State primed to be the fintech capital of the U.S.
Feb 16, 2018
In 2015, Arizona became one of the first states to adopt an intrastate equity crowdfunding policy, which permits state residents to buy stock in a startup. Arizona State Representative Jeff Weninger, a small business owner who knew firsthand the need for new ways to raise capital, authored a crowdfunding bill that he and his cosponsors intended to help make Arizona the first-choice home of the nation’s small businesses. The crowdfunding bill allowed non-accredited investors to purchase up to $10,000 in equity in small companies based in Arizona. It also limited the investment pool to Arizonans—as required by federal law—and limited the maximum crowdfunding amount to $2.5 million per business.  Read more

State Department: Tillerson Was Not Claiming That Hezbollah Was a Legitimate Actor in the Lebanese Government

Clean up, aisle one.
Feb 15, 2018
The State Department is denying that Secretary of State Rex Tillerson on Wednesday described Hezbollah as a legitimate actor in the Lebanese government, after the secretary’s comments drew harsh criticism from regional experts. Tillerson told reporters Wednesday that the U.S. had to “acknowledge the reality” that Hezbollah is “part of the political process in Lebanon.” A State Department spokesman told THE WEEKLY STANDARD that Tillerson, in that remark, was “absolutely not” accepting Hezbollah as a legitimate political actor. The U.S. regards Hezbollah as a terror organization.  Read more

Senate Votes Down Multiple Immigration Measures, Leaving DACA, Border Funding Unresolved

From signing 'whatever' bill emerged to just 'whatever' in a month.
Feb 15, 2018
On January 9, President Donald Trump sat down with a group of about two dozen members of Congress and told them in front of the nation that he would sign “whatever” bill they could come up with to protect nearly 700,000 Dreamers from deportation. Although Trump listed his priorities—securing funds for a border wall, limiting family migration, restructuring the diversity visa lottery in favor of a merit-based system, and protecting Dreamers—he recognized the fact that immigration is a particularly challenging topic in American politics. “When this group comes back, hopefully with an agreement,” Trump declared in the January meeting, “I am signing it. I will be signing it. I'm not going  Read more

What Was the Point of the 5Pointz Millions?

Graffiti artists win $6.7 million in damages against property owner—but at what cost?
Feb 15, 2018
An impermanent high-art graffiti gallery in Queens was, for the five years since its whitewashing by a real estate developer, considered another casualty of cold-hearted capitalism. Its absence was a monument to the unwinnable war against the Man. Now the building owner who erased it has to pay $6.7 million in damages—for 45 pieces of what, until not too long ago, wouldn’t have been considered fine art at all. A Brooklyn jury decided back in November that 5Pointz’s destruction violated the Visual Artists Rights Act, a 1990 copyright law protecting attribution and integrity.  Read more

The Future of Gun Control and the Fate of DACA

Hosted by Charlie Sykes.
Feb 15, 2018
Today on the Daily Standard Podcast, senior writer Michael Warren and deputy online editor Jim Swift discuss gun control efforts in the wake of the Parkland school shooting, whether or not the Senate's open-ended immigration debate will yield any results, the White House's security clearance problem, and Mitt Romney and the future of the Senate GOP caucus. This podcast can be downloaded here. Subscribe to THE WEEKLY STANDARD's iTunes podcast feed here.  Read more

Trump Speaks Out About Florida School Shooter Nikolas Cruz

The president weighs in on the tragedy at Marjory Stoneman Douglas High School.
Feb 15, 2018
President Trump on Thursday gave his first public comments after the school shooting in Parkland, Florida that left 17 dead on Wednesday, pledging to take action “to secure our schools” and “tackle the difficult issue of mental health” to prevent similar tragedies in the future. “Our entire nation with one heavy heart is praying for the victims and their families,” Trump said. “To every parent, teacher, and child who is hurting so badly: We are here for you, whatever you need, whatever we can do to ease your pain. We are all joined together as one American family, and your suffering is our burden also.  Read more

Governments Move to Regulate the In-Game Video Experience

In response to buyable add-ons some lawmakers say trick consumers—and gamers already despise.
Feb 15, 2018
A series of bills introduced Monday in the Hawaiian state legislature could harbor a new era of regulation of the video game industry. The bills, introduced by state Rep. Chris Lee (D-Oahu), go straight at the most vocal complaint among gamers today: loot boxes. Loot boxes are in-game purchases, made possible with in-game currencies players can buy with real-world money, which provide the gamer items like a new outfit or power-up. These “microtransactions,” as they’re called, are supposed to help the player complete the game quicker. Items awarded by loot boxes are often randomly generated, which has led critics to call them a form of virtual gambling akin to a slot machine.  Read more

Fact Check: The Florida School Shooting Forgeries

This is what literal "fake" news looks like.
Feb 15, 2018
In the wake of the tragic school shooting yesterday in Parkland, Florida fake photos began to surface, spreading misinformation and false accusations surrounding the event. The anonymous Twitter account “MAGA Pill” shared a picture of what it claimed was an article from Buzzfeed titled, “Why We Need To Take Away White People’s Guns Now More Than Ever” by a “Richie Horowitz.” (The tweet has since been deleted. You can see a screenshot of it here.) The photo is a fake. The picture of “Richie Horowitz” in the photo is actually BuzzFeed reporter Salvador Hernandez, who tweeted out the fake photo and noted that he was not “Horowitz.”  Read more

Bill Miller: 'Had I not studied philosophy I would be a completely different, and probably worse person than I am.'

A chat with the legendary investor, who just gave $75 million to the Johns Hopkins University philosophy department.
Feb 15, 2018
America doesn’t need “more philosophers” Sen. Marco Rubio said in a 2015 presidential debate, echoing politicians on both sides of the aisle who have, unfortunately, derided education in the humanities. One man who evidently disagrees is Bill Miller. The legendary Baltimore-based investor, who made his name while exceeding the S&P 500 benchmark index for fifteen consecutive years while serving as the sole manager at Legg Mason Value Trust, just committed $75 million to the philosophy department at Johns Hopkins University.  Read more

Prufrock: The Myth of Dog Shame, the Oxfam Scandal, and How to Talk Like Trump

Also: Was King Arthur really a Roman centurion called Artorius?
Feb 15, 2018
Reviews and News: Was King Arthur really a Roman centurion called Artorius? Tuesday afternoon, the New York Times announced they had hired tech writer Quinn Norton to cover power, culture, and technology. Then they fired her Tuesday night. Was it the right decision? Adam Rogers considers. Want to read Salon ad free? No problem. Just let the company use your computer to mine crypto currency. No, your dog doesn’t feel guilt or shame. Bruce Handy shares some of the most interesting things he learned about the making of Stanley Kubrick’s 2001: A Space Odyssey while researching the film at the Kubrick Archive in London. What color was a Tyrannosaurus rex? Francis Gooding reviews a collection  Read more

The Substandard on Clint Eastwood, North Korea, and 50 Shades of Vic

Feb 15, 2018
On this week’s episode, the Substandard discusses the Clint Eastwood oeuvre. Sonny reviews The 15:17 to Paris and finds himself strangely drawn to it. JVL tears into the coverage of North Korea at the Olympics. Why is Vic wearing a trenchcoat to the theater? The Substandard is sponsored by quip, the new electric toothbrush. quip starts at just $25, and when you go to getquip.com/substandard, you'll get your first refill pack free! The Substandard is sponsored by Casper mattresses. Get $50 toward any mattress purchase by visiting Casper.com/substandard and using promo code SUBSTANDARD at checkout. This podcast can be downloaded here. Subscribe to the Substandard on iTunes, Google Play, or on Stitcher.  Read more

Editorial: Will Tillerson Raise the Brunson Case in Turkey?

The arrest of an American pastor looks more and more like a cynical power play.
Feb 15, 2018
When Secretary of State Rex Tillerson meets with Turkish officials tomorrow, he’ll have plenty of unpleasant topics to discuss. At the top of Turkey’s list of grievances is American support for the YPG, or the People’s Protection Units, a Kurdish-Syrian militia that has wreaked devastation on ISIS in Syria but which the Turks claim is aiding a Kurdish independence movement inside Turkey. Solving that impasse won’t be easy. We hope, though, that the secretary will raise an American grievance: the plight of Andrew Brunson. Brunson, 48, is a Christian missionary who’s lived in Turkey for more than 20 years.  Read more
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