I’m So Bored With USA: The Return of the Never Ending Story?

“..I remember All those moments Lost in wonder That we’ll never Find again..”

Europe has taken on mythological status amongst the hard-right in both the UK and US. The latter is an insidious issue with Trump hellbent on shaping Europe as part of his global vision. Within this is his tacit acceptance of Putin’s expansionist actions, which is highlighted by his appeasement to Putin’s aggression in Ukraine, and clearly believes appeasement makes him a champion of peace.

Last week’s US strategy paper, claimed Europe faces “civilisational erasure” because of migration and a censorious EU “undermining political liberty and sovereignty”. This was seen as confirmation of the Trump administration’s hostility to Europe but, moreover, revealed its ambition to weaken the bloc. Specifically, the paper says the US will “cultivate resistance” in the bloc to “correct its current trajectory”.

The document clearly shows Trump’s intent to pursue aggressive foreign-policy interference, disguised as “promoting European greatness”. There is also overt racism as the paper states that Europe’s “economic decline is eclipsed by the real and more stark prospect of civilisational erasure.”

The sections that cover Europe are little more than an reiteration of European far-right ideology and propaganda that has been their basic stance for decades. The EU and migration policies are held responsible for “transforming the continent and creating strife, censorship of free speech and suppression of political opposition, cratering birthrates, and loss of national identities and self-confidence”. According to the document, if “present trends continue, the continent will be unrecognisable in 20 years or less. As such, it is far from obvious whether certain European countries will have economies and militaries strong enough to remain reliable allies”.

This forms the basis of the Trump administration belief that “within a few decades at the latest, certain Nato members will become majority non-European”. In subsequent interview with Politico, Trump claimed this would make these countries “much weaker”.

Much of their thinking is based “The Great Replacement”, published in 2011, by the French novelist Renaud Camus, which accused European elites of using immigration to replace the rebellious “native” populations and import a more docile and dependent electorate.

‘using immigration to replace the rebellious “native” populations and import a more docile and dependent electorate’

The Trump administration justify their nativism saying: “American diplomacy should continue to stand up for genuine democracy, freedom of expression, and unapologetic celebrations of European nations’ individual character and history.” It goes on to say: “America encourages its political allies in Europe to promote this revival of spirit, and the growing influence of patriotic European parties indeed gives cause for great optimism.”

In short the US will support Europe’s far right to help achieve Trump’s policies. Within this they are seeking “building up the healthy nations of central, eastern, and southern Europe” – in particular “aligned countries that want to restore their former greatness” (read: Hungary, Italy).

Like all populism the document is long on “what” and short on “how”. What is clear is that the Trump administration will pressurise Europe to adopt a radical policy around freedom of speech, closer to that which prevails in the US – again, particularly towards far-right speech – and not just on social media.

In addition, Russia will be bought in from the cold, with the document explicitly stating the priority of “reestablish strategic stability with Russia”.

The document promises to “assert and enforce”; that is, the US “enlisting” countries around the world that want to help safeguard US national interests.

This paper effectively sets-out strategically what VP Vance’s said at the 2025 Munich Security Conference. Now this has been made “official policy” European leaders, which includes PM Starmer must finally understand the extent of Trump’s ambitions.

Cas Muddie summed up the situation perfectly: “the current US government believes that its national security is best served by the destruction of liberal democracy in Europe. In other words, the US is not (just) an unwilling ally, it is a willing adversary. Time to act accordingly.”

Certainly, Liam Byrne, a former labor cabinet minister and the chair of the Commons business committee, understands the situation saying that this shift in US policy meant it was even more important for the UK to strengthen economic security links with the EU.

Speaking during the urgent question, he said:

“The language of the US national security strategy was deeply regrettable and, frankly, it was not hard to see the rhymes with some extreme right-wing tropes that date back to the 1930s.”

Byrne was clearly referring to 1930s Germany in his opening comment, and to Nazi thinking about racial purity.

‘it was not hard to see the rhymes with some extreme right-wing tropes that date back to the 1930s’

As Byrne pointed out this coincides with talks on the UK joining the EU’s Safe (Security Action for Europe) defense loans programme broke down. He said the government should adopt the recommendations in his committee’s report on economic security, and he said the UK should open talks with the EU on the sort of economic security union that could provide Europe with the growth “that rearmament is going to require”.

Referring to the US document, the president of the European Council of national leaders, António Costa, responded saying “…..What we cannot accept is the threat to interfere in European politics.

“Allies do not threaten to interfere in the domestic political choices of their allies. The US cannot replace Europe in what its vision is of free expression … Europe must be sovereign.”

Unsurprisingly, the strategy document was welcomed by the Kremlin, who said it “corresponds in many ways to our vision.”

The Trump administration’s bullyboy attitude seems to have left PM Starmer floundering. Like many, he had come to rely on America, blithely assuming that the US would underwrite Europe’s security; that, as Washington’s closest ally, Britain would punch above its weight; and that British institutions would stabilise order, if not justice, in turbulent times. All of that is history.

Listening to both German Chancellor Merz, France’s Macron, and Ukraine’s Zelensky this week, it was clear that they had begun adapting to a post-American world. Whereas, Starmer and his ministers have been cautious not to criticise Trump and have sought to play down the implications of the strategy document.

Seema Malhotra, a Foreign Office minister, insisted repeatedly on Thursday that the US “remains a strong, reliable and vital ally for the UK” and that ministers agreed with some aspects of the strategy, “like the importance of sustaining freedom and security”.

She told the Commons that the UK government did “take a different view” than the US “on some areas”, including on European strength and the value of multiculturalism.

Part of our problem is that we seem unable to accept our diminished status; we are beset with inequality, there are numerous fractures within our borders, and we have an economy plagued by financialisaton that produced little in the way of anything tangible. What little investment there is chases capital chases speculation over production. As a result, we lack the industrial depth to arm Ukraine, the budgetary flexibility to shape European security and the diplomatic leverage to challenge a US administration determined to broker peace at any cost.

Brexit was, in many way, rooted in nostalgia Part of that nostalgia was the comfort factor the “special relationship” provided. No that no longer exists we are a somewhat sad little nation that is fatally isolated, and seeking an identity.

‘we are a somewhat sad little nation that is fatally isolated, and seeking an identity’

The nostalgia and belief in British exceptionalism that saw vote “leave” triumph in the Brexit referendum was based on a new, unique electoral coalition. This coalition was prevalent in delivering Boris Johnson’s Tory’s their 2019 majority, went a bit a bit missing in 2024, and, with Reform leading in the polls, has returned with a vengeance.

I wrote about this coalition in “Each and Everyone“, when I highlighted that the two main component parts of Reform electoral coalition, the “working right” and the “hardline conservatives.”

Yet, with labor starting to break cover, Brexit is becoming a convenient scapegoat to blame for our economic woes. Whilst, it may not have caused all of them, blaming Brexit would have more in-common with what the majority of “leave” said during their referendum campaign.

There was the naked jingoism of “Take back control” and a “sovereignty”, which was nothing more than hollow, outdated sentiment.

There was the blatant lie about 88 million Turks “flooding” in should we remain in the EU. All nicely summarised in Farage’s “breaking point” poster showing streams of refugee men.

All this achieved was to make racism acceptable, and allowing a bunch of newly elected Reform politicians to indulge themselves in the crudest dreams. In this, they have been encourage and abetted by Tories such as Robert Jenrick, and labor’s home secretary, Shabana Mahmood, who have jumped on the racism bandwagon with gay abandon.

Brexit did lay bare some of the countries divisions, creating fractures that show no sign of going away.

Post-Brexit, the big issue has been immigration, which, if you remember, was meant to be “cured” by “leave”.

The fact that it has become such a political problem has seen even labor join in the “send ‘em” back party. Following on from our immigrant, Muslim, home secretary’s hardline, the PM is now trying to save face, by amending the European human rights laws rather than facing the embarrassment of leaving the convention altogether.

His defense being that by enabling tougher actions to protect borders, he and other European leaders will see off the rise of the populist right.

When will he learn? His tough talk on immigration has had two results in the polls; firstly, the racists prefer their espresso to be made with coffee not decaf, therefore they prefer Reform, whilst progressive voters, horrified, by labors enthusiasm for racism have decamped to the Greens and LibDems.

Unsurprisingly, his actions have been condemned, with human rights campaigners, labor peers and some MPs arguing they could open the door to countries abandoning some of the world’s most vulnerable people, and demonising refugees.

Returning to Brexit, it will be interesting to see whether labor has the cajónes to revisit what has become a taboo subject. Somehow I doubt it will happen!

With the benefit of hindsight labor had failed before they even started. They straightjacketed themselves into a senseless, and unachievable fiscal corset, which, having left the customs union and single market, met the only question was, how quickly would it all disintegrate?

‘it will be interesting to see whether labor has the cajónes to revisit what has become a taboo subject’

PM Starmer acknowledging that Brexit “significantly hurt our economy”, and that “wild promises were made to the British people and not fulfilled”, and, “You do not need to have a PhD in economics to know that erecting unnecessary trade barriers with your biggest trading partner will hurt growth and raise the cost of living.”

He isn’t the only government member saying it, Chancellor Reeves as has Wes Streeting and David Lammy.

Opinion polls show that Brexit shouldn’t be a taboo subject. Polls shows that the public understand that Brexit has been a disaster; 56% agree, whilst 31% appear blind.

The much vaunted trade deals that were supposed to replace the customs union has offered little to compensate for what we lost. New research from the National Bureau of Economic Research puts the loss at 6-8% of GDP cumulated so far up to this year, £240bn in wealth and £90bn in tax revenue every year.

The government needs to remember that actions speak louder than words. Reports shows that twice as many labor voters are considering fleeing to the Liberal Democrats and Greens as to Reform. It’s time that labor’s strategists realised that realigning with Europe might just save the party.

Whilst Brexiters might glory in the fact that we no longer pay £14-19bn in EU contributions. And, as one member of the Bruges Groupe boasted: “You lot only talk economics. We talk of freedom that has no price.”

It would appear that it does have a price; up to £90bn a year is lost in Treasury revenues

Staying with the economy, yesterday’s rate cut in the was bizarre; a bunch of academics pretending to debate whilst Trump issued instructions. Their mandate is to act as the guardians of price stability and job security, indeed there was talk about elevated risks to inflation and jobs, but they bowed to Trump’s needs; lower rates to keep the stock market lubricated prior to next years’ Mid-Terms. A continuation of the illusion that a strong stock market means a strong America. Simple

The cut was expected, because that was what Trump demanded, whereas in a real world the Fed, mindful that inflation remains too high and uncertain and the jobs data too mixed, would have held firm.

What Trump forgets is that, whilst equity markets are the domain of optimists, bond investors are pessimists worried about pesky things like inflation eroding the value of their coupons. Easing rates does not mean a market will accept it and buy bonds, especially if they perceive there is a limit to further easing next year.

It is likely that bond yields will remain stubbornly high despite the Trump inspired cuts, as the market remains worried about inflation and the soaring US debt burden. As a result, the Fed is going to support rates by intervening in the markets with the “Reserve Management Purchases”, Quantitative Easing by another name. The programme starts tomorrow when the Fed will buy $40bln T-Bills to pull down yields to its target yields.

Without realising it this article is the culmination of much of what I have written over the years.

‘this article is the culmination of much of what I have written over the years’

Economically, Trump, with his “big, beautiful” tax cuts for the rich and juicing-up the stockmarket with unmerited interest rate cuts is employing a “buy now, pay later” policy.

He tries constantly to dismisses concerns about prices and as a “hoax” and a “con job” to suggest that he bears no responsibility for inflation. In a recent interview with the Politico, when asked what grade he would give the economy, he replied “A-plus-plus-plus-plus-plus.”

Unfortunately for him, the electorate aren’t falling for it; a November survey by the Associated Press-Norc Center for Public Affairs Research found that only 33% approve of his handling of the economy.

Along with the cost-of-living, the interest rate cuts will only serve to further inflate a massive asset bubble and further exacerbate inequality.

He clearly wants to export his white supremacist policies to Europe, and see nothing wrong in interfering with countries democratic process if it serves his purpose. This, truly is a return to the fascist 1930s, that I have always warned against.

What Trump consistently fails to understand that in more western European countries there isn’t much love for America.

This was endorsed by Jordan Bardella, the RN leader in France, who told the Daily Telegraph: “I’m French, so I’m not happy with vassalage, and I don’t need a big brother like Trump to consider the fate of my country.”

To the BBC, he added: “It is true that mass immigration and the laxity of our leaders … are today disrupting the power balance of European societies.”

Unlike the AfD in Germany, the RN has, to date, been very wary of seeking to cultivate Maga contacts. Bardella has previously accused the US of engaging in “economic warfare” and said Trump was “a good thing for Americans, but a bad thing for Europeans”.

“I’m French, so I’m not happy with vassalage, and I don’t need a big brother like Trump to consider the fate of my country.”

The inevitable conclusion is that remaining isolated, leaves us a weak, vassal state of a repressive regime. In addition, our economy will continue to underperform.

There has never been a better time to reengage with Europe.

The last word goes to the LibDem MP, James MacCleary, who said the US strategy presented a “bleak and dystopian vision of the world”, which prioritised “interference in European democratic processes to promote a specific ideology and worldview”.

“You still think swastikas look cool

The real Nazis run your schools

They′re coaches, businessmen and cops

In a real fourth Reich, you’ll be the first to go”

‘A very short editorial this week.

The Trump administration, with their recent strategy paper, has finally broken cover, seeking to export their white supremacist racism to Europe, even at the cost of interfering with democracy.

Trump represents a return to the 1930s and is the clearest threat to global peace since Hitler.

Even the right in European countries such as Italy and France don’t want to become a US vassal.

The UK faces a stark choice, freedom with Europe, or become, perhaps remain might be more accurate, subservient to a rogue America.

Lyrically, we reflect this stance, opening with Roxy Music’s “Song for Europe”, and ending with the Dead Kennedys and Nazi Punks F**k Off.

We should enjoy what we can, whilst we can!

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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