The Times They Are A-Changin’: Madness  

 

 

“I’m about to explain that someone is losing their brain”  

 

 

Even the tech barons are beginning to be concerned about the impact of AI multiply… 

 

…however, Trump is allowing his madness to shine through, dismissed their anxieties as a “HOAX” and “conspiracy”, posting: “The only control or ‘guardrails’ that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!” 

Errrr! Really? 

Representing those that actually know, Elon Musk and ChatGPT’s CEO Sam Altman endorsed the call by Daron Amodei, the CEO of Anthropic, to acknowledge the existential dangers of AI and to put on the brakes. 

Amodei called for government regulation if other AI companies refuse to cooperate: “The most effective method of pacing is via regulation that targets all US frontier AI companies, as that covers even those who are unwilling to cooperate voluntarily.” 

Previously, the Biden administration tried to formulate some basic AI precautions, based around Executive Order 14401, issued on October 30, 2023, titled “Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence.” The document declared that: 

“Harnessing AI for good and realizing its myriad benefits requires mitigating its substantial risks. This endeavor demands a society-wide effort that includes government, the private sector, academia, and civil society.” 

 

‘Harnessing AI for good and realizing its myriad benefits requires mitigating its substantial risks’

 

On his return to office, Trump dismantled the order, and dismissed the risks, saying: “You have a lot of very negative forces that are bringing it up that shouldn’t be bringing it up and they’re bringing up things that won’t happen.” 

Investors could also be concerned by AI restrictions as it will impact any future profits; Anthropic has raised over $130bn and OpenAI over $190bn, both have filed for an IPO. 

Trump’s blasé attitude isn’t shared by the electorate: surveys by the University of Maryland’s Program for Public Consultation found 85% of Democrats and 79% of Republicans want a new federal agency to monitor and regulate AI; 82% of Democrats and 78% of Republicans favour government safety tests for AI making critical decisions. 

Politicians are more divided, with some fearing that any pause could allow China to take the lead in the AI race and undermine national security. This was summed-up by Trump, thus: “There is a SICK conspiracy going on against AI and Data Centers, and the only one that is happy about it is China. WHOEVER WINS AI, WINS!” 

As with his record on climate change, Trump opinions are somewhat flawed 

Last year, when addressing the UN, he dismissed climate change as a “con job,” referring to renewable sources such as solar and wind as a “scam.”  

Clearly believing this rubbish, his administration has been actively trying to block wind and solar power projects. More recently they are reportedly planning to eliminate all restrictions on greenhouse gas emissions from power plants. 

 

‘As with his record on climate change, Trump opinions are somewhat flawed’ 

 

If there was a need to highlight the descent into darkness made by America, it was there for all to see in last week’s Republican conference. 

During his address, Ted Cruz accused NYC’s Democrat mayor, Zohran Mamdani, of holding radical views. Video footage of the audience, shows at least one person shouting: “He should be shot!” This was repeated followed when Cruz named Michigan Senate candidate Abdul El-Sayed, and again after he named Texas Senate candidate James Talarico. 

 

Following his promise of “Trump dividend” of $5,000 for every US adult if Republicans win both chambers of Congress, he made some wild claims, including: 

 

• “Less than two years ago, the American people gave us a mandate to save America – and in 19 months, I’ve delivered on every single promise I made.”  

• “They [the Democrats] gave us wide open borders with 25 million people pouring in from all over the globe. They turned our cities into scenes of death and misery, murder, poverty and destruction, and made America a laughingstock all over world. But we took that dark age of America and turned it into the golden age of America.” 

 

His son, Donald Trump Jr, proved to be a shit of the old block, telling the audience: “Communism is on the march and it’s up to us to stop it in its tracks.”  

Determined not to be outdone, VP Vance, said: “The Democrats are the party of hatred. They’re the party that despises America and the people who built it … America belongs to those who love it – not those who hate it.”  

Strangely, there was no mention of the Iran War, inflation, or tariffs, which continue to negatively impact global economies. 

His foolish war on Iran has driven-up UK inflation to 3.1%, caused directly by the most serious shock to oil and gas prices since the 1970s, which, in-turn, has spooked financial markets, increasing bond yields and the debt servicing costs of governments worldwide.  

 

‘the most serious shock to oil and gas prices since the 1970s, which, in-turn, has spooked financial markets, increasing bond yields and the debt servicing costs of governments worldwide’

 

All of which is exacerbated by Trump’s reckless fiscal policy and threats of interference at the Federal Reserve. 

His tariffs have led to Jaguar Land Rover cutting 4,000 jobs. While his geopolitical posturing and dismantling of the post-WW2 western security consensus are forcing nations to ramp up defence spending. 

All of this comes at a time when the new chancellor, John Healey, is only weeks away from presenting his first budget. They do say, timing is everything!  

What we are seeing is proof that this whole populist / far-right / fascist thing is a con, built on lies and half-truths. 

A good example is Brexit. What happened to the extra £250m a week for the NHS? 

 

‘Con the struggling masses by telling them their problems are caused by migrants, refugees and minorities, whilst championing the interests of the mega-rich who actually hold the power’

 

Farage told us Brexit was the people versus the establishment: “Is the vested interest, it’s the rich, it’s the big business.” 

All these populists / far-right / fascists claim to champion the people against the elites.  

Instead, the US has a wealthy tycoon, whose relatives and friends are making a killing from his administration, and the UK has a privately educated millionaire ex-City broker. 

The forthcoming 200-page paper by the Centre for a Better Britain, a thinktank linked to Reform, appears to endorsing my comments, as it is rumoured to recommend substantial tax cuts for the rich. 

The report is expect to provide an insight into the economic and financial policies that are likely to form part of Reforms platform before the next election, including abolishing IHT and phasing out CGT. 

That would reduce tax revenues by C.£32bn: IHT raised £8.5bn last year, while CGT raised  £24bn in 2024-25. 

The report is also expected to propose cutting rules and regulation for the financial services sector, referred to as “big bang 2.0″. 

The whole anti-establishment schtick is very simple: Con the struggling masses by telling them their problems are caused by migrants, refugees and minorities, whilst championing the interests of the mega-rich who actually hold the power.” 

 

“Lots of kids are working to get rid of these blues
Cause everybody’s sick of the American ruse”  

 

I think we can summarise this as the world is going nowhere other than downward whilst Trump remains president.

The thought of mini-me Farage having similar power is a fate worse than…..

It would seem that others are waking-up to the need to accept that the US is just not a reliable partner.

This week, we saw the EU offer Canada a form of membership/alliance, which Canadian PM Mark Carney welcomed.

Trump’s reaction tells us everything we need to know about his America: a bully. His response was to threaten the EU with “serious tariffs”, calling the idea “laughable”.

He described it as a “hostile act”, telling reporters he could put “very serious tariffs or stop trading with Europe”. He added: “If it’s a good intention, that’s fine. If it’s a bad intention, we’ll put very heavy tariffs on Europe.”

Trump’s ongoing follies have rendered Chancellor Healey’s first budget irrelevant. Inflation is deepening the cost-of-living crisis which is the majority’s main focus, and there is little he can do about it. A fact that will be beyond the comprehension of the right-wing media, whose bigotry borders on the plain daft!

Unfortunately we are where we are. The great majority of what these columns predicted and continually discussed has come to pass.

My only hope is that the electorate will not be seduced by Farage’s Reform.

Lyrically, we start with “Madness” by Prince Buster, and popularized by Madness. To finish, we have “The American Ruse” by MC5.

Philip 

 

@coldwarsteve

 

Philip Gilbert is a city-based corporate financier, and former investment banker.

Philip is a great believer in meritocracy, and in the belief that if you want something enough you can make it happen. These beliefs were formed in his formative years, of the late 1970s and 80s

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