Streetwise Professor

November 9, 2016

Blessed Are Ye Who Are Long Gamma

Filed under: Economics,Energy,Politics,Regulation — The Professor @ 9:03 am

Hillary Clinton made history last night. Just not quite the way she had expected. Rather than “shatter the glass ceiling” (gag), she was crushed as the roof caved in on a complacent, corrupt, and clueless establishment of which she was the exemplar. Donald Trump was the personification of the forces that defeated her and the “elite”, but pretty much only that: either by canny calculation or dumb luck he rode a deep current of popular discontent to achieve a stunning victory that saw at least five, and likely six, strongly Democratic states flip from D to R. The Democrats prevailed only in the leftist strongholds of the P-Coast, the Northeast, The Illinois Salient, and Governmentlandia (Virginia and Maryland). The rest of the country went red. Trump was the effect, not the cause. The vessel that floated on the tide, not the tide itself.

Blessed are ye who are long gamma. Those who have the flexibility and optionality to respond to uncertain developments are the winners here, for there will be uncertainty aplenty. The future with Hillary would have been drearily predictable: the future with Trump will be a wild ride.

Consider few representative areas.

The Supreme Court: Hillary would have chosen rigid leftist ideologues intent on remaking the country–not just its government and economy, but its social fabric. Trump? I have no clue, and either does anyone else. My guess that his court picks generally will be highly idiosyncratic with no unifying philosophical orientation–because Trump lacks one as well.

Government appointments: Hillary would tap from the Empire’s vast array of apparatchiks, most of whom would be statist to the core. The middle and lower level appointments would have teemed with the kinds of political cockroaches revealed in the light of the Podesta emails. As an outsider, Trump has no similar pool of bureaucrats-in-waiting. The transition process will likely be chaotic, and he will have to rely on a Republican establishment that he distrusts (and which distrusts him) to advance candidates. Again, the outcome is wildly unpredictable, and will probably result in a hodgepodge of appointments with no unifying ideology or philosophy, who will often work at cross purposes.

There will be new blood, which is a good thing: people from outside the ranks of the courtiers in DC and the coastal metropolises are desperately needed. These people will inevitably be high variance. But that is an inevitable part of the process of change.

Economic policy: Hillary would have continued the onslaught of regulations that has been producing an Amerisclerosis that rivals Eurosclerosis. Agencies like the EPA would have continued to propose and implement burdensome, growth-sapping regulations. She would have pushed the kinds of taxes on capital that are also inimical to growth (although her ability to get those through Congress would have been a very open question). Trump? He is an economic ignoramus, but it is likely that Congress will temper some of his wackier ideas. Further, he is open to reducing many of the regulatory monstrosities like those that the EPA has imposed, and to removing barriers to energy production and transportation. His tax ideas are unpredictable, but again they are not relentlessly hostile to investment and capital. And a big thing: there is an opportunity to fix Obamacare. Hillary would have fixed it by moving to single payer. There is an opportunity to move away from government control, not doubling down on it.

Regulatory policy and taxes will require cooperation with Congress. The relations between Trump and the Republican leadership are fraught, at best. Idiots like Max Boot are delusional if they think that a Republican House and Senate will give Trump carte blanche. But Trump views himself as a negotiator, and will no doubt engage in negotiations with Congress with zest. The outcome of those negotiations? Impossible to predict. Likely something best described by the old joke: “What is a giraffe? A horse designed by committee [or negotiation].” Again, tremendous uncertainty.

With respect to economic policy, personnel will matter here. Again, Hillary’s appointments to agencies like EPA, SEC, FERC, FTC, FCC, and CFTC would have been tediously predictable statists intent on extending government control over the economy. Trump’s appointments are much more likely to be a very mixed bag, leading to less predictable outcomes. I do think it is likely, however, that there will be many fewer regulatory control freaks. Thus, I expect that at the CFTC, for instance, a Trump commission will jettison economic inanities like Reg AT and position limits.

Foreign policy: Hillary has a strong interventionist, not to say warmongering, streak, and would have almost certainly been more aggressive in Syria than Obama has been, with very sobering consequences (including a substantially increased risk of confrontation with Russia). Trump’s predilections seem much less interventionist, but events, dear boy, events, can lead presidents to do things that they would prefer not to. And given Trump’s mercurial nature, how he will respond to events is wildly unpredictable.

He will have to deal with other major issues, notably China. He will approach these like a negotiator–including, I expect, large doses of bluff and bluster–and the outcomes of these negotiations will be even harder to predict than those of his negotiations with Congress. (One issue that could have both domestic and foreign policy effects is that I conjecture it is likely that the Sequester will die under Trump, whereas it would have continued with a divided government.)

It is clear, therefore, that Trump will disrupt the system, both domestically and internationally, whereas Hillary would have perpetuated it. And I am not unduly concerned about extreme disruptions, because the inherent complexity of the American system of government, the tension between Trump and Congress, and quite frankly, Trump’s limited attention span will temper his more extreme impulses.

Further, shaking up the system is a good thing, for the system is dysfunctional and corrupt. Hillary would have continued our relentless slouch to cryptosocialism and would have cemented the rule of a contemptible and remote establishment: the possibility of an upside is greater with Trump, even if by accident. Hillary would have delivered us sclerosis on purpose.

I would also suggest that a Hillary victory would have increased the likelihood of a bigger cataclysm in the future. She and her acolytes would have disdained and dismissed the forces that in the event propelled Trump to victory. She would have doubled down on the policies that have contributed to our present discontent. As a result, that discontent would have only increased, thereby increasing in turn the likelihood of an even bigger political spasm in the future.

To put things differently: with Trump, we will be on a roller coaster. With Hillary, we would have been on the luge.

I think Trump will be a transitional figure. Transitioning to what, I have no idea. But given the deeply dysfunctional nature of the status quo, transition holds out hope. Shaking up a decrepit and corrupt system creates the possibility for change. Creative Destruction is a possibility with Trump. With Hillary, no.

All this said, the Empire will strike back. It will wage a relentless war from its redoubts in the media, and to a lesser degree, the courts. Look at what the Remain crowd is doing in the UK in its attempt to undo its loss at the polls. That will happen here too: there will be a Thermidor, or at least an attempted one. And that battle will produce uncertainty.

And not all of the Empire’s minions are Democrats: the Republican establishment will fight Trump from within the citadel. This political warfare adds the prospect of even more uncertainty. Again, a reason to be long gamma.

I cannot say I predicted this, because I didn’t. I do think it is fair to say that I limned the outlines of what has transpired. This came in two parts. First, I noted that as with Brexit, this possibility was far more likely than elite opinion believed. A complacent elite sat smugly atop the volcano, blithely ignorant of the pressure of deep popular disdain pushing up the earth under their feet, disdain powered by the financial crisis, bloody and inconclusive wars, and an anemic economy. Talking only to one another, the elite received no feedback about what voters were thinking and feeling.  Existing in an echo chamber made them vulnerable to shock and surprise. Moreover, their contempt for those not in their class also led them to think that such feedback was irrelevant, because these little people didn’t matter. They knew better.

But the little people, largely without voice in the forums in which the elite communicate and interact, nursed their injuries, bided their time, and took their revenge.

Second, Hillary is a horrible person, and a horrible candidate–or should I say deplorable? Look at the vote totals vs. Obama in 2012. To say she underperformed is an extreme understatement. She underperformed because she had nothing new to offer, and indeed, the old conventional liberal stuff she was offering was long past its sell-by date. Add to that her horrible personal packaging (the corruption, the endless scandal, the inveterate lying) and she was crushed by an inarticulate political novice carrying more baggage than the cargo hold of an Airbus A380.

I did not have the courage of my convictions to predict that these two factors would result in a Trump victory. I thought Jacksonian America was too small to prevail. I too was in the thrall of conventional wisdom to some degree.

If you asked me to describe my mood, I would echo the title of a Semisonic song: Feeling strangely fine. Part of that feeling, I must admit somewhat guiltily, is due to schadenfreude: the hysteria of those whom I despise is quite enjoyable to witness. But part of it is that I think I am long gamma, and that the US is long gamma too. The old system and the old establishment have crushed American dynamism. Shaking up that system has more upside than downside, and whatever you think about Trump, you have to know he will shake things up.

I’ll close by quoting about the most un-Trump-like president I can think of: Eisenhower. “If you can’t solve a problem, enlarge it.” In other words, disrupt. Get out of the box. Don’t continue down the same endless path: try something new. The United States has been facing many insoluble problems, political, economic, strategic. The establishment had no clue at how to solve these problems, and their attempts to try the same things expecting different results put us on a slow road to ruin. Or maybe not so slow. A disruption was needed. An overthrow of the elite was imperative. Those things will in some respects enlarge our problems, by creating turmoil. But out of that enlargement there is the prospect of solutions–and yes, the prospect of catastrophe.

I don’t think that Trump himself will be the architect of those solutions. His role will be to tear down–he’s already done that to a considerable degree. Others will have to build up. Who that is, I don’t know. What construction will emerge, I don’t know. But there is far more upside now than there would have been with President Hillary Clinton. And that is reason to feel fine, strangely so or not

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39 Comments »

  1. SWP- long gamma- I love it and great way to describe Trump. But the options we all hold on America are way OTM, so let’s hope he does inject a lot of uncertainty. We are going to need it. Feeling fine.

    Comment by Cypriot — November 9, 2016 @ 9:34 am

  2. Lampedusa has it in The Leopard: for things to stay the same everything has to change.

    Comment by Recusant — November 9, 2016 @ 11:08 am

  3. Normally I disagree with about 95% of what is written.

    Here that number dropped to about 5%.

    Well stated. Thanks, keep up the candor and irreverence.

    Comment by Well written — November 9, 2016 @ 11:12 am

  4. SP

    Hat tip to you on your keen insights here. Also, the Long Position Limit War at the CFTC will likely finally be won by the opposition. You deserve much credit for helping to delay implementation until a change in Administrations.

    Comment by Scott Irwin — November 9, 2016 @ 11:49 am

  5. Given how there is likely to be an unraveling of the Obama legacy, and also now watching Obama’s post-mortem speech on the lawn, with Biden standing faithfully by his side – I cannot help but think about how Obama squandered his opportunity to cement his legacy by grooming a successor. For instance – why did Biden get scrubbed off the platform so easily – was VP all he wished to attain? Obama made a devil’s bargain with Hillary, and now he is going to pay for it.

    So, hopefully Trump can start grooming a portfolio of successors, including a nice proportion of articulate and conservative women, who CAN break the glass barrier and capture that wayward woman vote that we witnessed in this round. For instance, out-of-the-box here – Megyn Kelly for Press Secretary? lol…

    Comment by KavkazWatcher — November 9, 2016 @ 12:20 pm

  6. @Scott. Thanks for the kind words. I hope you are right re position limits. I hope I made a difference in the rearguard action 😉

    The ProfessorComment by The Professor — November 9, 2016 @ 2:39 pm

  7. I sorta have to disagree. The election is the result of one thing. D’s decided not to show up. Mitt Romney gathered more votes than Trump in an election that had almost 18 million more registered voters. If you adjust for population growth, mitt would have been within 1-2% of winning California. CALIFORNIA!!!!.

    Still happy, but i realize what happened.

    Comment by JeffreyL — November 9, 2016 @ 2:48 pm

  8. Feeling strangely fine is an excellent way to describe it for me, too. I felt more horror about his winning before yesterday, but now it sits in a kinda/sorta state of contentment. Of course, the schadenfreude is delicious. I feel like I’m enjoying it a little bit too much… wait, no, we’re talking about Hillary. Never mind.

    A big burden has been lifted from us. Thank God. Long live the new and uncertain future and may it not bite us in the butt!

    Comment by Howard Roark — November 9, 2016 @ 3:13 pm

  9. SWP, you should be glad that FrankenDodd will be gone.

    Also, I think you are a bit unfair as far as S Ct appointees. You are right – we found out from Ruth Bader Ginsburg how decisions are made – oops, she took it back. Too late.

    Garland was possibly in – if the Supreme Royal Pantsuit won. Oh, well, never mind, he’s out.

    Trump has already listed his possible nominees for the Supremes. I think the idea was to avoid “high idiosyncracy,” or any kind of idiosyncracy.

    I do find some wonderful ironies here.

    Jeb Bush – “Donald, you can’t insult your way to the presidency.”

    Also – the dufus Trump was so stupid that he calculated his way to electoral votes, rather than to the popular vote.

    The dufus Trump was so stupid that he actually had a clear and plain message, and put it down where the dogs would eat it.

    The great unwashed, the Trumpsters, worse than Pharyngians (Star Trek), crawled out from the filthy netherworlds to deliver a big “f u” to the uber-genius, uber-superior liberals/establishment, and stupidly rejected the wonderful beneficence of the Hamptons, Martha’s Vineyard, Silicon Valley, and other uber-superior elite.

    Rejected the “she’s for the children” message, whatever that is. No more having to figure out which of the 54 genders of Kaitlyn Jenner or Miley Cyrus one is supposed to accept. No more having to accept that Ma Barker Klinton, leader of the Klinton Krime Family, is above the law.

    No more having to accept “we’re going to put you out of business.” No, wait, first we’re going to put you out of business, then we’re going to have yet another guvmint program, goodness knows how it’s going to be funded, to “retrain” you.

    No more having to swallow the “legacy” of the used car salesman/con artist supreme, Obumbler.

    Cash for Clunkers is my favorite Obumbler legacy – the guvmint buys used cars and turns them into junk. Very, very productive.

    No more Cash for the Klinton Krime Family Foundation.

    I wonder if the Klinton Krime Family Foundation will have to give refunds?

    Comment by elmer — November 9, 2016 @ 3:20 pm

  10. To use a Bushism – many, many people misunderestimated Trump.

    And thank goodness for Wikileaks. Gets around the Klinton Krime Family, learned from the Kremlinoids – “you can’t prove it.”

    My favorite out of that is Podesta’s occult dinners, complete with breast milk and semen, and goat heads, among other things.

    Comment by elmer — November 9, 2016 @ 3:24 pm

  11. Will the liberals try to strike back over entering the abyss “through no fault of their own” and due to the dunderheads and brainless Gollums that voted for Trump?

    You betcha.

    Here’s an example – Yale professor suspends midterms for students with “election shock.”

    http://www.foxnews.com/us/2016/11/09/yale-professor-makes-midterm-optional-for-students-distraught-over-trump-win.html

    BREAKING: Yale Econ 115 professor makes midterm exam optional after students write in expressing shock about presidential election: pic.twitter.com/JQY8GFsQiV
    — Jon Victor (@jon_victor_) November 9, 2016

    He wrote to them saying: “I am getting many heartfelt notes from students who are in shock over the election returns” and “fear, rightly or wrongly for their families” and are “requesting that the exam be postponed.”

    John Victor, editor of the Yale News, published the extraordinary message, and noted that many more snowflake students were demanding similar treatment.

    Comment by elmer — November 9, 2016 @ 3:31 pm

  12. I don’t know whether anyone noticed, but when Trump delivered his victory speech – which was very gracious and very brief – Melania was wearing a —– pantsuit.

    A beautiful, flowing white pantsuit.

    Comment by elmer — November 9, 2016 @ 3:33 pm

  13. more wonderful ironies:

    – the Klinton Krime Family specifically picked Trump to run as a Repub – so they could beat him

    – from Wikileaks, Demorat strategy:

    “1) Force all Republican candidates to lock themselves into extreme conservative positions that will hurt them in a general election;
    “2) Undermine any credibility/trust Republican presidential candidates have to make inroads to our coalition or independents.”

    Neither one of those happened

    – all sorts of celebrities will be fleeing to Canada – but Trump will stop illegal immigration

    I am sorely disappointed that Madonna withdrew her offer of oral sex for anyone who voted for the Klinton Krime Family.

    I guess she was in dire need of publicity, good or bad.

    Comment by elmer — November 9, 2016 @ 3:44 pm

  14. @elmer-Re your first irony. “Be careful what you ask for” is one of my cardinal rules. People who are too clever by half tend to get their asses in a crack with their machinations.

    I would give the same caution to Putin.

    The ProfessorComment by The Professor — November 9, 2016 @ 3:48 pm

  15. I’m still waiting for just one national news commentator, even Rachel Maddow, to say “Bill Clinton is a sexual predator.”

    Of course, that would depend on what ‘is’ is and whether there is a Biblical injunction against his behavior.

    Comment by Henry Barth — November 9, 2016 @ 5:27 pm

  16. Michael Moore’s comments in July were, “Trump’s election is going to be the biggest “fuck you” ever recorded in human history — and it will feel good … Whether Trump means it or not is kind of irrelevant because he’s saying the things to people who are hurting, and that’s why every beaten-down, nameless, forgotten working stiff who used to be part of what was called the middle class loves Trump. He is the human Molotov cocktail that they’ve been waiting for, the human hand grenade that they can legally throw into the system that stole their lives from them.”

    This is the long form version, and yes I’m sure you’re not a Michael Moore fan, but damn if he didn’t nail this one months in advance. http://michaelmoore.com/trumpwillwin/

    Comment by Mike — November 9, 2016 @ 7:36 pm

  17. Good bye abortions, hello global warming.

    Comment by DJD — November 9, 2016 @ 8:55 pm

  18. You’re saying “fixing Obamacare” like there were no problems with health care prior to Obama. What are the chances that Trump will close the employer-provided health-insurance loophole and cut back Medicare and Medicaid?

    Comment by aaa — November 9, 2016 @ 11:08 pm

  19. I wouldn’t feel too bad about your delight in the gnashing of teeth and rending of garments on the left. Personally I have discovered that my demand for Schadenfreude is relatively inelastic.

    Comment by noir — November 10, 2016 @ 12:15 am

  20. I had assumed, for just a moment, that you were going to discuss the gamma radiation that Hellary planned to treat Moscow to.

    I hope Trump isn’t nobbled by the warmongers.

    Comment by dearieme — November 10, 2016 @ 5:43 am

  21. Good blog.

    Before the vote, I thought the likely outcome of a Hillary win was in some measure the Republicans’ fault for putting forward a candidate so poor that even Hillary could beat him.

    In the event, it looks like it’s the Democrats who need to take the required long look at themselves, because they put up a candidate so poor even Trump could beat her. They start from a worse position on this, some way behind the Republicans, inasmuch as the Republicans seem to agree and understand that their own candidate was poor. The extent of the Democrats’ shock and rage today suggests they apparently genuinely think Hillary was a great candidate, and that it was the voters who failed. They don’t seem to be getting it at all, hence the calls for insurrection to protest the result.

    It is interesting that the liberal left is all for democracy until it returns a result they dislike. Then they want to march on the Capitol, or whatever, and overturn it, presumably by thuggery.

    I haven’t yet heard a “Hillary won the popular vote so should be President” whine yet, either. Of course, we didn’t hear this before the election, because the left would have wanted to reserve contempt for this argument if made from the right after an opposite result. How long can it be before the left establishments starts arguing that Trump has no legitimacy? I’m giving it till the end of the week.

    Comment by Green As Grass — November 10, 2016 @ 7:51 am

  22. @Green-Thanks! I shared your thoughts re blaming the Republicans in the event of a Clinton win. Upon reflection, I wonder if Trump’s defects were his strongest attribute. Those motivated largely by a (quite reasonable) disgust for the system can signal it best by voting for someone who outrages convention: voting for a Romney or a Jeb Bush or even a Ted Cruz would hardly convey a rejection of the status quo. As a result, in a weird comic book/sci-fi sort of way, the more viciously mainstream voices–including ostensibly Republican Never Trumpers–attacked him, the stronger he got. These attacks just bolstered Trump’s credibility with those intent on sticking a finger in the eye of the establishment. The worse, the better. (As an aside, isn’t it interesting how many–including Hillary–who came to maturity flouting their anti-establishment beliefs are now the establishment.)

    Yes, the Dems are in deep merde. I am going to write about this shortly. And yes, like the Remain types in the UK, they just don’t get it. They don’t take this as an opportunity for self-reflection on where they failed and how they should change. They just double down on their own righteousness and condescension. This is also counterproductive, because it tells those who voted for Trump that they’ve hit their mark. This is just fuel for more schadenfreude.

    As I said on Twitter, all the rivers of salty tears and the melting snowflakes on college campuses are making me wonder whether I should build an ark.

    The ProfessorComment by The Professor — November 10, 2016 @ 9:18 am

  23. I looked at the election results by county and in the Midwest noticed some small blue specs in seas of surrounding red and checked to make sure. As I suspected those small isolated blue specs were the county locations of Indiana University, University of Illinois, and Michigan State University.

    Comment by pahoben — November 10, 2016 @ 12:02 pm

  24. Oh, definitely. Similarly, if you look at the Virginia election map, blue around Charlottesville (UVA) and Blacksburg (VTech).

    The ProfessorComment by The Professor — November 10, 2016 @ 12:04 pm

  25. And in VA, also blue around DC. Obviously. That’s where the government pilot fish swim.

    The ProfessorComment by The Professor — November 10, 2016 @ 12:07 pm

  26. Blue around Cuyahoga County in the Cleveland area in Ohio.

    Even California is not entirely blue – but it is very densely packed in the blue areas

    Comment by elmer — November 10, 2016 @ 12:20 pm

  27. @Professor
    Hilarious to me that Hillary received 93% per cent of the vote in DC while Trump received 4% of the vote. Can you imagine-hard to get 93% of people to agree on a good restaurant let alone who should be president.

    Comment by pahoben — November 10, 2016 @ 1:56 pm

  28. @pahoben. The 4 pct are being hunted down at this very minute. As are Jill Stein supporters.

    The ProfessorComment by The Professor — November 10, 2016 @ 2:30 pm

  29. @Professor
    Funny-kind of a pre pogrom pogrom by the thought police.

    Time for Bill and Hill to cuddle up in front of the fireplace and revel in the time they can now spend in each other’s company.

    If you watch Bill in the background of Hill’s concession speech you will see him mouth at the emotional crescendo what looks like,”That’s my girl”. So he must be looking forward to having Hill all to himself now-those wonderful senior golden years.

    Comment by pahoben — November 10, 2016 @ 5:29 pm

  30. @pahoben – now, now, no need to be sarcastic and bring attention to the fact that Bill and Hill live separately – and more. Bill does put on a good act. To whom do you think he was mouthing the words “that’s my girl”? If I were a mean person, I would have kept the thoughts that I thought earlier that the person who would be happiest to see Hill go to jail is Bill. But I put those thoughts out of my mind.

    Comment by elmer — November 10, 2016 @ 6:17 pm

  31. @pahoben-LOL. Someone emailed me yesterday and said Hillary will probably go to Qatar or Saudi Arabia to avoid prosecution in the US. I replied “Well, then Bill will be able to get the harem he’s always wanted.”

    The ProfessorComment by The Professor — November 10, 2016 @ 6:54 pm

  32. @ pahoben: laugh out loud funny. Well done.

    Those two really do have a sort of Italian Renaissance feel to them. Like the Borgias or the de Medicis, but without the art patronage (in fact, it’s if anything the artistes who patronise Billary rather than the reverse).

    There’s still time for Hillary to try to make Pope.

    Comment by Green As Grass — November 11, 2016 @ 3:35 am

  33. @ Professor

    “isn’t it interesting how many–including Hillary–who came to maturity flouting their anti-establishment beliefs are now the establishment.”

    The left is still very keen on the idea of the Establishment and how it needs to be overthrown, but as you point out, the left is the Establishment. The left’s caricature of the Establishment is one that hates gays and the lower classes but I always cite Hillary as an instance of what a left-wing establishment looks like. It is quite a lot more censorious and intolerant than anything we have seen in the last 100-odd years or so. The Establishment of, say, Oscar Wilde’s day was broadly tolerant of, say, homosexuality as long as you kept it to yourself; if you didn’t then matters took their course. The Establishment of today is wholly intolerant of, say, dissenting opinions, doesn’t think you should be allowed to hold them, and that you should be discriminated against if you do. Last year an Oxbridge academic said she would fail students who expressed conservative views, and another wrote that “the death penalty is an appropriate punishment for GW deniers” (http://www.parncutt.org/climate.html#main).

    Comment by Green As Grass — November 11, 2016 @ 4:18 am

  34. Ding dong, the witch is dead, the witch is dead, the witch is dead….Now we can hope for two things: One, Hillary just goes away to her lap dog by the fire–never to be heard from again; or two, justice is invoked and she goes to jail for the incessant lawbreaking actions she’s committed over the years–never to be heard from again. Either way, I will be giddy. And know this: I am giddy because she will not be president–not now, not ever. That in itself will begin to facilitate the “[healing of the earth, the cleaning of our water, the ocean levels will return to normal]….”

    Comment by EconMaestro — November 11, 2016 @ 8:14 am

  35. @EconMaestro–Yes. I am very pleased that I will be able to retire the epithet “Wicked Witch of the West Wing”!

    The ProfessorComment by The Professor — November 11, 2016 @ 9:26 am

  36. @Green–The peasants’ revolt against leftist establishment political correctness was a major driver of the election result.

    The post-election reaction at universities and even state legislatures is very revealing. Frantic virtue signalling. But what they are really signalling to the wider world is that they fear that their censorious hold over the hoi polloi is is slipping.

    They will fight back, of course. As I noted in the post, they will retreat to their redoubts to fight on. Sort of a latter-day Maoist Long March (through the institutions, to mix in Gramsci). I mentioned media and the courts, but academia is another of their bastions. So are many large city governments (although Democratic hold on state governments has ebbed to a level not seen since grandpa wore high-button shoes). The foundations. Also, many corporations–Apple, Facebook, Google (or Alphabet or WTF it calls itself these days), most tech companies, startups (GrubHub was in the news for its CEO saying those who voted for Trump are not welcome), and even old economy companies like General Mills. It is amazing how deeply PC has wormed its way into corporate America.

    The ProfessorComment by The Professor — November 11, 2016 @ 9:37 am

  37. Re: 27 (DC MD & NoVa turnout), and to the Media and Especially Hollywood. What do you expect? These rent seekers are only voting for their own interests, which are to have other people pay them for their lifestyles. To a lesser degree Corporate America is also the “establishment”, built on free trade (returns to capital, not labor) and the desire never to p.o. any customer or employee, certainly if it means less revenue or labor cost. The stock markets’ reaction is at least an unexpected aftershock as the election itself.

    Comment by dh — November 12, 2016 @ 7:20 am

  38. Two of the companies you mentioned are headed by Jews, and at least one by a homosexual. So it’s not PC that has wormed its way into corporate America, it’s the actual beneficiaries of PC. Unlike Trump, these folks are actually producing wealth and creating jobs, and they’re not going away just because a dude who grabs women by their private parts is now president.

    Comment by aaa — November 12, 2016 @ 8:50 pm

  39. @aaa
    You are implying that the companies mentioned would not have been successful without PC culture? You are implying that before PC culture Jews and homosexuals did not head successful companies? You are then minimizing their personal contribution and attributing theri success rather to Progressive culture. You are implying that when Thiel criticizes PC culture he is biting the hand that feeds him.

    For me to describe what I understand as your assertions would require non PC descriptors and not wanting to send anyone to a Safe Zone with a horrible panic attack I will leave your assertions un described.

    I do agree that wormed doesn’t catch the character-it was more an unopposed frontal attack.

    Comment by pahoben — November 14, 2016 @ 3:25 am

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