Articles chosen with care. Your comments welcomed.
Linked articles in bold purple
◆ North Korea was sufficiently flummoxed by Trump’s speech that it postponed its own UN speech til Saturday
The official NK media called Trump names normally heard only at Antifa rallies: “Mentally Deranged U.S. Dotard” (New York Times).
The word itself is sufficiently odd that the Washington Post had to run an article explaining it. (Link here) Short definition: A person in his dotage.
His latest threat is an H-Bomb test over the Pacific (Wall Street Journal, subscription)
Comment: Expect fire and brimstone from the North Koreans at the UN on Saturday.
This is not going to end well.
◆ The really big news is that China’s Central Bank has told all the country’s banks to stop all dealings with North Korea. That’s a major step, one Trump himself called unexpected (Reuters)
It does not mean all banks will comply, but the penalty (from the US and perhaps China) will be severe for cheating.
North Korea will undoubtedly try to utilize other currency streams: British Pounds, Euros, Gold, Bitcoins, whatever, but I expect London and Frankfurt will follow Washington’s lead on this.
- North Korea is very canny in finding and hiding new sources of financing. The US and others will have to monitor transactions very carefully and punish violators harshly.
- It is quite likely that Pres. Trump’s very strong speech to the UN and the credibility of US military threats moved China to take measures against North Korea it clearly did not wish to take and has avoided for two decades.
◆ Obama Presidential Library getting lots of pushback from black neighborhood (Chicago Tribune)
Now that Obama is about to build his presidential center in Woodlawn’s Jackson Park, some residents are wary of his ability to transform neighborhoods without doing harm to longtime residents who could end up displaced by gentrification.
A nasty fight over a community benefits agreement with the Obama Foundation has exposed an unexpected rift between the former president and some of the South Side residents who helped lift him to prominence. –Chicago Tribune
Comment: Part of the issue is “rent seeking.” Locals want a cut of the action, and Obama won’t sign an agreement with them.
Another part is that the whole complex, including a fancy golf course, is an upscale project on the lakefront. Pres. Obama had a chance to build it two miles away, in an area with much better transportation and a neighborhood that really needed it. He preferred the more prestigious site instead. Finally, a lot of the pushback is that activists claim his presidency “didn’t do enough for black people.”
According to the Tribune:
At a community forum Wednesday night, a discussion about the proposed agreement morphed into a shouting match over whether Obama actually loves black people. One man in the audience yelled, “No,” while others said he wasn’t necessarily “their brother.” –Chicago Tribune
◆ Paging Alex Haley