James Macdonald

@jmacd.bsky.social

Historian. Author of When Globalization Fails: The Rise and Fall of Pax Americanan, and of A Free Nation Deep in Debt: The Financial Roots of Demcracy.

🚨🚨 #NATO SG Mark #Rutte is to my mind massively undermining European #unity and efforts to build up their #defence and #security in what I see as a statement which only plays in the hands of #Putin and #Trump. 🧵https://www.politico.eu/article/europe-defense-nato-mark-rutte-us-politics-threats-gdp/

Europe can’t defend itself without the US, NATO’s Rutte warns

The EU should stop dreaming of creating a European pillar for NATO and continue to build ties with the U.S. despite Trump, the alliance secretary-general said.

politico.eu

I could be proven wrong within days or even hours, but I think this is a decision Trump is constitutionally unable to make. On one hand, he would demonstrate power, which he confuses with strength. On the other, he would face potentially disastrous consequences of which he is terrified.

The key chart right now: Usually US economic pain is cushioned by falling bond yields and a strengthening dollar, which mean lower interest rates and more spending power for consumers. This time we’re seeing the opposite, meaning the pain will be amplified.

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Talked to a business friend deeply involved in CEO world, knows Trump and Scott Bessent. Calls Trump “a drunk driver taking the economy off the cliff into a needless recession,’ says Bessent told him he agrees. Predicts “he’ll be the shortest tenured Sec of Treasury in history.”

SitRep - 13/03/25 - Russia doesn't like a ceasefire on these terms. An overview of the daily events in Russia's invasion of Ukraine. Putin said that a ceasefire would only be accepted if Ukraine stops mobilization, training, and re-armament. REPOST=appreciated 1/X

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A rare map of the Technate of America drawn by the Technocracy, Inc., 1940 (or the Technocracy movement), which Elon Musk's Canadian maternal grandfather was a member of until he was arrested when the organisation was proscribed in 1943.

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After Elon Musk has been insinuating to turn off Starlink in Ukraine, Poland‘s Foreign Minister Radoslaw Sikorski is reminding Musk that Poland is paying for it, and he is making clear that if Musk follows through that Poland will abandon Starlink altogether for being an unreliable service.

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Some of us have been saying this since 2020 and even before: Dems should make corruption *the* central issue in US politics and public life and go on the offensive against GOP/MAGA/Trump transparent and hypocritical corruption and grifting. Most voters hate corruption.

Some thoughts on the European response to the chaos now emanating from the White House - on Ukraine and more broadly, based on chats with senior European policymakers directly or indirectly involved in formulating the bloc's response 1/

If Trump can secure a source of revenue (tariffs) that doesn't need Congressional approval, & can spend the proceeds without Congressional permission, he'll have done what Charles I failed to do in the C17th. Trump wants to govern as an elective monarch. The GOP in Congress must decide if it cares.

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