The axe fell on Steve Bannon Friday.
Mid-day, mainstream media proclaimed stocks were up because of the firing. Stocks closed the day down. Apparently, stocks were both up and down due to Bannon.
Now Bannon is Back on the Outside, back at Breitbart, and happy to be there.
Stephen K. Bannon has always been more comfortable when he was trying to tear down institutions — not work inside them.
With his return to Breitbart News, Mr. Bannon will be free to lead the kind of ferocious assault on the political establishment that he relishes, even if sometimes that means turning his wrath on the White House itself.
Hours after his ouster from the West Wing, he was named to his former position of executive chairman at the hard-charging right-wing website and led its evening editorial meeting. And Mr. Bannon appeared eager to move onto his next fight.
“In many ways, I think I can be more effective fighting from the outside for the agenda President Trump ran on,” he said Friday. “And anyone who stands in our way, we will go to war with.”
Among those already in Mr. Bannon’s sights: Speaker Paul D. Ryan; Senator Mitch McConnell, the majority leader; the president’s daughter Ivanka Trump and son-in-law, Jared Kushner; and Gary D. Cohn, the former president of Goldman Sachs who now directs the White House’s National Economic Council.
Thanks But No Thanks
Trump thanked Bannon for his help during the campaign, but not for his tenure in the WhiteHouse.
New York Times Parting Shot
The New York Times editorial, Exit Steve Bannon, gave Bannon a swift kick on his way out the door.
Mr. Bannon’s exit is, of course, a relief. As the well-financed Pied Piper of the alt-right Breitbart crowd, Mr. Bannon at the pinnacle of White House policy making was a nightmare come to life.
But Mr. Bannon, who promptly returned to Breitbart as its executive chairman on Friday, still poses a danger for our broader politics. Outside the White House, he is freer to rally his forces against anyone who doesn’t toe his nationalist-protectionist line. A Bannon-led right-wing backlash against Mr. Trump, who unleashed the worst impulses of nationalists in service to himself, would be a fitting comeuppance.
More Fun to Throw Mud
Clearly, it’s far more fun to throw mud than have it thrown at you.
Lost in the Bannon and Trump bashing is one key question: Who is really the bigger threat, Hillary, Trump, or Bannon?
Why We Are Where We Are
We are in this mess because Obamanomics, war mongering, Fed policies, and social handouts created a budget mess but did not solve any problems. People revolted, and Trump got elected.
When it comes to trade and protectionism, Trump is wrong. So is Bannon.
Those who think Hillary would have been any better on trade policy are mistaken. If you believe differently, then please take Today’s Quiz: Donald Trump, Bernie Sanders, Hillary Clinton – Who Said It?
We would have a no-fly zone over Syria, had Hillary won. That would have risked a confrontation with Russia. Hillary wrecked Libya, and of course Obama and Bush had extremely misguided warmongering policies in the Mideast.
Obamacare was a failure, but no one on either side seems able or willing to fix it.
So here we are, with everything broken, and we still cannot get anything done. Republicans want more military spending and Democrats want more social spending. Warmongers on both sides want more war.
Art of Compromise
Compromise in Washington is more military spending and more social spending.
Repetitive “compromises” sent deficits soaring out of sight. On top of it all, the Fed blew massive bubbles in just about everything.
Problems Too Big and Too Many To Fix
One thing I expect Trump will get right, at least from a public union standpoint, regards appointments to the supreme court.
Overall, I hoped Trump would do better on many fronts. It was not to be. Trump could not drain the swamp. Partisan politics interfered, there was too much infighting, and there is nonsensical Russia bashing on both sides of the aisle.
The problems are too big and too many to fix. If you think Hillary would have fixed them you are delusional.
Mike “Mish” Shedlock