Trump Does a Truss
If there is anything we have learned over the past ten years and more, it is not to bet against Donald Trump—or even his acolyte, Elon Musk. However, perhaps in 2025, such a rule—rather like the old adage “don’t fight the Fed”—seems rather precarious.
Stocks and indices have tanked in a manner similar to the initial COVID reaction, and even gold has eased off record highs. Musk’s Tesla (TSLA) is down 50% from its DOGE-fuelled excitement highs, with sentiment suggesting that his association with Trump and subsequent behaviour has rendered him toxic.
But behind all of this, there may be a British political parallel—we’ve seen this kind of crash and burn before. Back in the autumn of 2022, a new Conservative Prime Minister, Liz Truss, attempted to push through a strong, right-of-centre agenda as quickly as possible. However, the markets saw her coming: the pound tanked and bond yields soared.
Not only was there no rapid Thatcherite-style rebirth, but Truss was also forced to resign within weeks. Admittedly, Truss was not elected at the ballot box and therefore did not possess a mandate in the way President Trump does. But the pressure that markets and political leaders across the world will place—and already are placing—on him will make life very uncomfortable.
Something, or someone, has to give. When that happens, the markets may rise like a homesick angel. One could argue that the doom is already overdone, as compromises on tariffs and trade will inevitably have to be agreed. But in the meantime, this feels like one of those moments—just like the aftermath of January 6 Capitol attack—when it’s difficult to see how Trump comes out of this particular situation in one piece.
The BBC vs Apple
One of life’s lessons is knowing when to pick a fight—and when not to. In the case of the BBC, which for many years has struggled to justify its licence fee, the last entity it should be taking on is Apple. The very last would be Netflix.
Had Auntie Beeb, with its famously balanced coverage, played its cards right, it would have moved to a subscription model years ago. Indeed, there could have been various subscription services—for music, sport, and more. Now that an armada of ships has sailed, the state broadcaster for a first-world country has rather bizarrely accused Apple of putting its licence fee at risk.
Presumably, both Apple and 90% of the British population would be delighted if the licence fee were not only at risk but died a quiet death altogether. The BBC’s grievance appears to be that Apple and Google’s news coverage “diminishes” and “erodes” quality, undermining its relationship with the public.
This may simply be a case of blaming others for its own shortcomings. After all, the corporation seems to experience a scandal involving one of its presenters on an annual basis.
Lucy Connolly
The Southport X post by Lucy Connolly, which led to a jail sentence after she admitted inciting racial hatred, continued to make headlines this week. The incident has clearly become a political football, with the Conservative line suggesting that the affair is symptomatic of a two-tier justice system.
An objective observer might reasonably wonder whether the justice system has ever been anything more than it currently is—biased toward or against certain groups of people. That clearly remains the case; it’s merely a question of which individuals fall into the favoured or unfavoured categories at a given time.
In the meantime, one must ask whether anyone should be incarcerated for online misdemeanours, especially when such individuals often have so little influence. Most people online have such limited traction that even if they discovered the meaning of life, a cure for cancer, or a perpetual motion machine, no one would notice.
A “sticks and stones” approach—rather than one focused on words—might be the way forward. However, as some have suggested, the Connolly case may have been more about quelling unrest at the time and setting a precedent for the future than it was about justice.
Indeed, in the 21st century, sentencing a mother with a young child and an ill husband to a jail term feels deeply inappropriate. But of course, if it was not inappropriate, it would not have the shock others into being a deterrent in the future.
The Beatles Biopic
There can only be one “best” in most areas. Whether it is an Einstein, Newton, Mozart, or today rather more controversially, Churchill. For pop music, The Beatles have arguably increased their lead over their peers in recent decades. There may have been a few close moments with Queen, Led Zeppelin or as mentioned in Ian Leslie’s article in The Financial Times, Bob Dylan, historically. And in recent years Taylor Swift has swept the board. But in terms of the four lads in one group, and the talent therein, it is probably going to be the case that The Beatles prevail for our lifetime. That said, the group broke up 55 years ago, and presumably there are people at Apple charged with keeping the franchise in tip top condition. There are perhaps two missing marketing / creative outlets left. The first would be an Abba Voyage style virtual performance. Maybe back on The Rooftop? Or of course, a biopic. Those who are familar with the group will know that there have been biopics previously, even The Birth Of The Beatles in 1979, when all were alive. Presumably, making four films about all four is a way of delivering something that catches the eye. That said, even with the skill of Sam Mendes, and even with the best actors of our day lined up for the role, to depict the world as it was some 60 years ago is not easy. We are in full woke mode now. It is difficult to depict the class, race and other prejudices of the time without causing offence. Without such depictions things risk falling flat. For instance, the racism and sexism towards Yoko Ono, or the fear Brian Epstein had regarding his sexuality becoming public, especially given his religious background. Perhaps such issues will pale into insignificance, given that Mendes will most likely move along the road of creating entertainment. From instance, the Queen biopic with its all to obvious wigs and 70s by numbers portrayals was not exactly art house. But Bohemian Rhapsody did nab Oscars and gross not far off $1bn. If the four biopics add up to such a number, and can get into the nitty gritty of our heroes, the wait for theatrical release in three years will be worth it.
