Friday, June 17, 2016

Slowing Down?

I heard speculation today that the looming uncertainty around the Brexit vote helped stay the Fed's hand regarding hiking interest rates.  If that filtered through to me, I figure many are saying it.

I'd add there's an element of projection here though, in terms of the US pot calling the UK kettle black, in that there's looming uncertainty around the US presidential elections as well.

If one is running a business, making plans for the future, these known unknowns add up, on top of unknown unknowns that will always be there.

I hadn't realized to what extent Gibraltar was involved in the calculations, in terms of its staying in or leaving the EU as well.  I'd been focused on Scotland and sentiments there.

Effects of the Intel layoffs are noticeable locally.  I just heard about WalMart.  Unemployment figures may also have played a role in giving the Feds more reason for hesitation.

Merchants in wholesale and retail have to be looking ahead to the Christmas season around now, anticipating how things might go until then.  Pundits were saying the presumptive Republicans had a greater chance of winning the presidency if the nation were gripped by fear of terrorism.

That was before Orlando, which many presumptive Republicans blame on a foreign state that mostly lives in people's minds at the moment (no borders, no passports, no currency, no embassies...).  If there's a line between a mental state and a political state, I'm not seeing it at the moment.

Although the media are looking at gun control, which is no back burner issue, the matter of actually barring Muslims from entering the country will require suspending the Bill of Rights will it not?

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof.  If practicing the Islamic religion is grounds for deportation, wouldn't that be a law prohibiting the free exercise thereof?

I'm not the only one who remembers General Hayden's remarks on Bill Maher, the big headline on February 26 of this year.  He suggested the military would need to disobey any orders that directly conflicted with their Constitutional responsibilities.

What will be the demand for teddy bears and security blankets, come Christmas, if we're looking at martial law and/or troops urged to protect the existing US Constitution?  The question has to be in the back of some minds, even high up at WalMart.

People in the US are not used to a situation like in Egypt, where the Constitution was in abeyance for many years.  The new Egyptian Constitution is only about two years old, not over two hundred.

Actually, Constitution Daily says only that the question of constitutionality is open to debate.  A political movement tried to ban anyone of Chinese heritage from entering, not a ban based on religious beliefs.  That gets cited as a precedent.
Despite the recital by both sides of competing court precedents, the Supreme Court has never decided specifically whether a religious preference could be a valid basis for exclusion of all of those who follow a given faith.
The Bill of Rights is not specifically mentioned.

Hysteria about martial law is coming from other corners.  Youtube has many shrill clips predicting a power grab to give president Obama a third term.  FEMA camps feature in many of these.  Combine the US election with Brexit, and there's a lot of fear in the air.  Many businesses slow down in such a climate.