July 11, 2018

JOHN HINDERAKER: Bull 1, China Shop 0. “Trump is right about this. Germany stupidly closed nuclear and coal power plants in favor of huge investments in “green” energy. Those investments, predictably, have failed to do anything other than drive the price of electricity unacceptably high. Germany is now backing away from its ‘green’ policies in favor of natural gas. Where does it get most of its natural gas? From Russia. The specific focus of Trump’s criticism is the proposed Nord Stream 2 pipeline, which would take gas from Russia to Germany. That pipeline has been controversial for a while. . . . I think the answer is that German post-war guilt is now indistinguishable from lazy softness. Russia is playing a hard game, annexing Crimea, putting constant pressure on Ukraine, making preparations to invade the Baltics. Putin’s regime is trying to restore the Russian empire, and it is questionable whether Europeans west of Poland have the will to resist. Trump is obviously, and rightly, trying to stiffen their spines.”