RUTHFULLY YOURS

As Noah Daponte-Smith has explained over on the home page, Boris Johnson has, as The Sun put it, been ‘Brexecuted’, his bid for the Conservative leadership destroyed just before lift-off by the announcement that Justice Minister Michael Gove, his ally in the battle of Brexit, had, well, decided to put in for the job for himself.

Anyone who enjoys House of Cards will enjoy the instant take by Iain Martin, writing for the splendidly named Reaction.

Here’s an extract:

At 9am this morning, Boris Johnson was pretty sure that he was going to become Prime Minister, or at least make the final two in the leadership contest and be in with a 50-50 chance. Then, at 9.02am an email landed that signalled he was done for, ruined. Johnson and his team had no warning – no call, no text – from Michael Gove that he was about to declare Boris unfit to be Prime Minister and run himself. The explosive email went to reporters direct….

Almost instantly around forty Tory MPs switched straight to Gove. It was almost as though it had been planned…

Almost. As you will see if you read the rest of the article, Martin is good with the stiletto.

And so Johnson abandoned his bid for the leadership, a mistake: Going down with all flags flying would, over the longer term, have been seen as a more dignified exit, but there we are.

We could discuss how Johnson had left himself so vulnerable. Part of the problem was that, never the most organized of characters (although less chaotic than he pretends), Johnson had, in the confused aftermath of the unexpected win for the Brexit team, forgotten that in politics, like real estate, it’s necessary to always be closing.

Amongst Johnson’s errors was his decision to use his column in the Daily Telegraph as the venue for his first considered (too kind an adjective) comment on the referendum triumph he clearly had not expected, a column that was widely seen as a disaster. Gove, a journalist himself, apparently added a few editing touches to help his pal out. How kind.

The favorite to become the next Tory leader (and thus prime minister) now becomes Theresa May, the Home Secretary (interior minister). The Guardian’s Martin Kettle (no fan of Johnson, as you can see if you read the full piece) approves:

Johnson’s eclipse makes a May versus Gove contest in the final round likely. In the past, May’s chances tended to be dismissed because, in Westminster terms, she is like Kipling’s cat that walks by itself. She rarely works the room or the studios. She frequently does her own thing, which made Cameron suspicious. Though her leadership ambitions have never really been in doubt, she does not have much of a machine. The result is that she had relatively few committed supporters until now.

Expect the Labour Party under a new leader to oppose Brexit, despite the popular vote. At question is whether the new leader of the Conservative Party will manage to unite Conservative MPs into ratifying the popular vote. Now that Boris Johnson is out of the race.
I see markets rebounded from their funk at the temerity of the British people to vote for Brexit. There is no deep explanation required. The people and institutions involved in swinging markets on a daily basis are complete know-nothings, like the rest of us. They had overbought on an expectation of a market bounce once the UK had voted to stay in the EU. They then had to square their positions by selling once reality hit. And, as is the way with markets, selling begets selling. Overshooting on both the up and downsides is commonplace. It can be explained by human psychology or be the setting of computer trading programs. Take your pick; both are right.

What I find interesting is the way reactions to irrelevant market perturbations or the pronouncement of self-interested corporate leaders are taken to be instructive commentaries on world affairs. The decision taken by the British people is about the character of the life of a nation as it evolves. What happens in the next five minutes or the next few years is largely by the way.

Netanyahu put it well when speaking at the UN about the nuclear deal with Iran, in which most restrictions on Iran are lifted after ten years. “A decade may seem like a long time in political life, but it’s the blink of an eye in the life of a nation.” It would be unfortunate if the worst happened and the UK experienced a recession because of Brexit, but exactly what effect would that have on life in the UK in 2030? None is the answer.

I like to think that those who voted to leave the EU had in their mind what kind of country they wanted to their children, grandchildren and great-grandchildren to live in. Certainly, as someone who was English-born, my support for Brexit was about the very long run. I do not hold any lower expectations for the mindsets of the vast majority of those who voted to leave. I don’t think it was about a migrant taking their particular job or taking their particular place in a hospital queue. I think it was borne of patriotism. Patriotism is essentially about the long run; not what is good for the next five minutes.

This brings me to the young and old. The young predominantly voted to stay, the old to leave. I have noticed something about the young now that I am in the older category. They tend to put greater emphasis on the present than on the past or future. I suppose this is because the present is the key to their future. As you get older and have less and less personal future to worry about you develop, I think, a broader perspective on time both backwards and forwards.

Some young people who voted to stay have accused older people of being selfish in voting to leave. This seems to me to be the kind of naïve reaction that the old expect the young to come up with. They didn’t disappoint. In fact, the only evident selfishness on display was on the part of those people who were prepared to put their country’s interests behind their own personal aspirations, which they felt would be adversely affected by the UK’s exit from the EU. I am not delegitimizing this rationale for voting to stay, but nor should it be lauded. At the same time, laudable or not, perceived self-interest should never be underestimated.

They certainly are a smart bunch at the Australian Academy of Science, where great minds can hold two contradictory opinions at the same time. Two years ago the goal was an end to planet-wrecking growth. Now they want more taxpayer dollars to promote it
The federal electoral urgings of the Australian Academy of Science are pretty much what you’d expect. It wants more funding for science, technology and engineering. This will ‘drive innovation and growth into the future’, it says.

The Academy is oh-so-keen on economic growth. It says, “More than three decades of exponential growth in Australia’s per-capita GDP is tapering, and if nothing changes Australia will fall out of the G20 within 15 years.”

But wait! Wasn’t this same Academy sponsoring a Green anti-growth agenda as it cranked up its Fenner Conference on the Environment less than two years ago? The conference, at the University of NSW, was titled, “Addicted to Growth? How to move to a Steady State Economy in Australia.” The Academy approves, brands and seed-funds these annual Fenner gigs at up to $10,000 a time.

The conference flier reads: “Novelist Edward Abbey once noted that ‘Growth for the sake of growth is the ideology of the cancer cell’. Our economy is meant to be a ‘servant of society’, not its master, yet is this true today? On a finite planet nothing physical can keep on growing forever – yet that is the ideology of the ‘endless growth’ neoclassical economics that now dominates the thinking of most governments and business. This has led to a rapidly worsening environmental crisis that degrades the nature on which we all depend. We cannot keep avoiding talking about this issue – hence the need for such a conference…”

The Academy has no economics expertise. But it promotes the eco-catastrophism of the global warming religion, having failed to notice that there has been negligible warming for two decades,[i], contrary to all the scary stuff from the IPCC computer modelling.

When common-sense flew out the Academy windows, the leadership became suckers for any variety of green ideology, such as divestment last year of its fossil fuel shares (but continued unprincipled use of fossil-fuel-powered electricity).