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Wall Street’s new TACO trade – Trump Always Chickens Out

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Harvard President Alan M. Garber walks through rows of seats toward the Commencement stage Thursday morning. When he rose to begin his speech, Garber was met with applause. By Jina H. Choe. Image credit Harvard

Monday, May 26 was Memorial Day in the United States. In a strange, unhinged, rant on Truth Social, Trump wished all, “Including the scum who ruined our country over the past four years” a Happy Memorial Day. A vitriolic message threatening to wreak retribution on all his political enemies.

Memorial Day is not a festive “Happy” holiday. It is a day to honor the ultimate sacrifice made by those in defense of their country. A day of reverence that demands humility and respect for the nation’s fallen heroes.

Former President Biden’s recent diagnosis of Stage 4 metastatic prostate cancer has raised questions about when he was first aware that his prostate cancer had metastasized, thereby becoming increasingly more aggressive.

The vast majority of patients suffering from a disease not uncommon for men in their 70s, had they adhered to annual check-ups and screening protocols, would have been identified with such an aggressive cancer at a much earlier stage. Which raises the question whether those surrounding the former president had kept that information away from the public.

Biden had showed no cognitive or physical decline during the first two years of his presidency, when he delivered an outstanding legislative performance. A performance that gave the Democrats a convincing win in the 2022 mid-terms. Sadly, this success prompted Biden to break his pre-election promise of being a one-term, transitional president, and to seek a second presidential term. A most ill-thought of and selfish decision, considering, even had he won re-election, he would have been 86-years old at the end of his second term.

Signs of cognitive decline and physical disability had become obvious during the final two years of his presidency. It is entirely possible that Biden’s prostate cancer had metastasized during this time, and his allies, out of a misplaced sense of loyalty, had indeed covered up the illness. A fatal mistake, one that may well have cost the nation its democracy.

The final evidence of Biden’s complete cognitive collapse was shown during the presidential debate of June 27, 2024, when he displayed visible exhaustion, stammering through unintelligible arguments, staring blankly, mouth agape, as Trump lobbed one verbal attack after another. Trump smirked. That was the moment he knew he had won a second shot at the presidency.

Biden’s subsequent withdrawal left the new candidate, Vice-President Kamala Harris with insufficient time to mount a successful challenge. The presidency was gifted to Trump, who readily won both the popular and Electoral College votes in November.

This great mistake by the Democrats of handing over the presidency and both Houses of Congress to a Party led by a convicted felon with authoritarian ambitions has changed the geopolitical structure of the world today. Trump is openly hostile to the nation’s long-standing allies, its neighbors and the nations of NATO. He appears to be throwing the ideological lot of the United States with the strongmen and dictators of the world.

Trump’s economic and tariff policies have, in four short months, transformed the strongest economy in the world he inherited from the Biden administration, to one of economic and societal chaos, rampant corruption and contempt for the rule of law and the constitution.

Coined by Robert Armstrong of the Financial Times, Wall Steet has introduced a new TACO trade. The acronym, which stands for trades resulting in Trump Always Chickening Out, illustrates how markets fall on Trump’s vow to impose high tariffs on imports, and then jump back when he announces “pauses” on those very tariffs. He imposed tariffs on Liberation Day, April 2, 2025, which he declared “the day of American economic independence”. When the stock market crashed the following day, he realized he had made a colossal mistake, and announced indefinite “pauses” of these tariffs, causing further economic uncertainty and instability.

Last week, Trump announced the imposition of a 50% tariff on imports from the Union, causing a sharp drop in the markets. A few days later, saying he had a “good call” with European Commission President Ursula von der Leyen, he was “giving the EU until July 9 to reach a deal with the US”. And he took credit for the immediate rise in the markets caused entirely by his Chickening Out – and God only knows what will happen on July 9. More TACO trades, without a doubt.

The economic uncertainty caused by Trump’s manic tariff policies may have ended, at least on a temporary basis. Last Wednesday, the Manhattan-based Court of International Trade blocked Trump’s “Liberation Day” tariffs from going into effect, ruling that the president had overstepped his authority by imposing tariffs. The Court ruled that “the US constitution gives the US Congress exclusive powers to regulate commerce with other countries, that are not trumped by the president’s emergency powers to safeguard the economy”.

The panel of three Judges who made up the Court was appointed by Presidents Reagan, Obama and – you guessed it – Trump!

However, to further muddy the waters, the US Appeals Court for the Federal Circuit “paused” the ruling of the Court of International Trade that blocked Trump’s tariffs, which now allows Trump’s tariffs to stay in effect, while the ruling is on appeal. The White House has immediately appealed the ruling, asking the Supreme Court to intervene.

Trump’s feud with Harvard University is reaching fever pitch. He demands the university bans the admission of international students, interferes in its academic curricula, claiming that it teaches its students the real history of the nation, like Critical Race Theory, instead of the modern, white-washed Christian version, spreads communist propaganda, and many other “woke” theories that go against the new American (Republican Version) Gospel: The 2025 Project.

Harvard’s President, Alan Garber, received thunderous applause when he opened his Commencement Day address on May 29, with the words, “Members of the Class of 2025, from down the street, across the country and around the world…. Around the world, just as it should be”. Gerber called for universities to stand firm against the Trump administration which has waged war against Ivy League schools in recent months.

Harvard University, one of the most prestigious seats of learning and research in the world, has been around since 1636, long before the birth of the United States. It will be in existence long after its future distinguished historians condemn the blasphemous, white supremacist Project 2025 and the dumbest, most corrupt president in US history.

Trump’s basic argument against Harvard, that the university provides an education for the benefit of foreign students, depriving homegrown students of a first-class education, is false. In fact, the opposite is true.

American universities like Harvard, Yale and the other Ivy Leagues lure the brightest of foreign students, usually from the third world, offering them grants and loans, enabling them to study for undergraduate degrees, at no initial cost. After they complete their degree, they are anchored to the United States for at least eight years, the period it takes them to repay their student loans. By which time, they have obtained US citizenship, secured high-level jobs, bought homes, found partners – America has become their home. And their world-class talents, enriched by the best education money can’t buy, remain for the benefit of the USA.

According to a new study of the non-profit, non-partisan organization dedicated to public policy research on trade, immigration and other issues of national importance, the National Foundation for American Policy, “The achievements of immigrants in the form of Nobel Prizes, thriving businesses and contributions in other fields are a testament to the American Dream. Being open to immigration allows America to reap the benefits of scientific and technological innovation”.

So who are the victims of the brain-drain? Trump’s recent public speeches, consisting of the most incomprehensible word salads, provide absolute proof of his continuing cognitive decline. Space permits me to cite just a few extracts of his “oration” at the press conference at Doha, Qatar, during his recent four-day swing of the Middle-Eastern nations of Saudi Arabia, the United Arab Emirates and Qatar. Drivel which brings to mind the words of the treacherous Antonio, who said, in Shakespeare’s The Tempest, “Whereof what’s past is prologue”, and is certainly worthy of verbatim quotation. If only to ponder the question:

Will the United States, as a nation, ever again be able to carve the sublime past of the soaring oratory of an Obama, out of the ridiculous prologue of the crazed utterings of a psychopath?

Hand to heart, these are a few faithful extracts of this press conference:

“When you look at what’s happening with Russia and Ukraine the drone is killing tremendous numbers of people. You hide behind a tree and the drone comes down and circles you with fire.

You don’t have a chance and the tree comes down also by the way.

“Do you know that Sean Duffy, the head of the Transportation Department, who’s working right now on the airports and getting a system because Biden didn’t do a thing for four years and Pete Buttigieg was the head and he goes bicycling to work.

“He takes a bicycle to work, can you believe it? What a — And they say he’s going to run for president, I don’t see it. Who knows, right? But I don’t see it.

“But, when I look at what they’ve done, it’s so horrible what they’ve done and the work they did do, wasted billions of dollars. They tried to hook up air systems to….Copper. They tried to hook up copper to glass and the glass doesn’t work with the copper and….

“They had 30,000 contractors different contractors doing 30,000 different jobs, and when they put it all together, they spent billions of dollars. It didn’t even come close to working and we’re going to be giving out a brand-new system.

“Sean Duffy, the head of Transportation. He’s a great Sean though, I have to tell you but Sean Duffy was the world champion for five years climbing trees and down, up and down, world champion! So that’s what you call a serious a lumberjack…. But he’s doing a fantastic job at Transportation.

“But this has been a very historic trip”.

Words spoken at a press conference in the presence of leaders of Qatar and other Arab nations, and the international press, describing the success of his four-day swing of the Arab nations of Saudi Arabia, Qatar and the United Arab Emirates. But all was not in vain. Trump snagged the illegal “gift” of a 13-year-old, hand-me-down $400 million flying palace from the Emir of Qatar.

Former President Biden was forced out of contention of a second term because of public evidence of cognitive deficiency of a word salad during the presidential debate. Extracts from the drivel shown in Trump’s rants above provide conclusive evidence of the cognitive collapse of a man who belongs in a psychiatric facility for felons, not in the White House.

Trump has made no progress whatsoever, economic or societal, in the first four months of his second presidential term. Contrary to the campaign promises he made, the wars in Ukraine and Gaza are still raging (his buddies, Putin and Netanyahu have been playing him like a fiddle, as Ukraine and Gaza keep burning). Prices of groceries and inflation continue to increase. His on/off tariff deals keep causing economic and stock market chaos. He continues dealing with his illegal cryptocurrency under the aegis of the presidency. His personal real estate deals with, and lavish, unconstitutional personal gifts from, Middle-Eastern despots, have enriched himself and his family beyond their wildest dreams. The White House Gift Shop has introduced a section, specializing in Presidential Pardons for Cash, with employee discounts. And his administration thumbs its collective nose at due process, the judiciary, the rule of law and the constitution.

Only 44 months to go. What else could possibly go wrong?

by Kumar de Silva ✍️



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Features

Maduro abduction marks dangerous aggravation of ‘world disorder’

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Venezuelan President Maduro being taken to a court in New York

The abduction of Venezuelan President Nicolas Maduro by US special forces on January 3rd and his coercive conveying to the US to stand trial over a number of allegations leveled against him by the Trump administration marks a dangerous degeneration of prevailing ‘world disorder’. While some cardinal principles in International Law have been blatantly violated by the US in the course of the operation the fallout for the world from the exceptionally sensational VVIP abduction could be grave.

Although controversial US military interventions the world over are not ‘news’ any longer, the abduction and hustling away of a head of government, seen as an enemy of the US, to stand trial on the latter soil amounts to a heavy-handed and arrogant rejection of the foundational principles of international law and order. It would seem, for instance, that the concept of national sovereignty is no longer applicable to the way in which the world’s foremost powers relate to the rest of the international community. Might is indeed right for the likes of the US and the Trump administration in particular is adamant in driving this point home to the world.

Chief spokesmen for the Trump administration have been at pains to point out that the abduction is not at variance with national security related provisions of the US Constitution. These provisions apparently bestow on the US President wide powers to protect US security and stability through courses of action that are seen as essential to further these ends but the fact is that International Law has been brazenly violated in the process in the Venezuelan case.

To be sure, this is not the first occasion on which a head of government has been abducted by US special forces in post-World War Two times and made to stand trial in the US, since such a development occurred in Panama in 1989, but the consequences for the world could be doubly grave as a result of such actions, considering the mounting ‘disorder’ confronting the world community.

Those sections opposed to the Maduro abduction in the US would do well to from now on seek ways of reconciling national security-related provisions in the US Constitution with the country’s wider international commitment to uphold international peace and law and order. No ambiguities could be permitted on this score.

While the arbitrary military action undertaken by the US to further its narrow interests at whatever cost calls for criticism, it would be only fair to point out that the US is not the only big power which has thus dangerously eroded the authority of International Law in recent times. Russia, for example, did just that when it violated the sovereignty of Ukraine by invading it two or more years ago on some nebulous, unconvincing grounds. Consequently, the Ukraine crisis too poses a grave threat to international peace.

It is relevant to mention in this connection that authoritarian rulers who hope to rule their countries in perpetuity as it were, usually end up, sooner rather than later, being a blight on their people. This is on account of the fact that they prove a major obstacle to the implementation of the democratic process which alone holds out the promise of the progressive empowerment of the people, whereas authoritarian rulers prefer to rule with an iron fist with a fixation about self-empowerment.

Nevertheless, regime-change, wherever it may occur, is a matter for the public concerned. In a functional democracy, it is the people, and the people only, who ‘make or break’ governments. From this viewpoint, Russia and Venezuela are most lacking. But externally induced, militarily mediated change is a gross abnormality in the world of democracy, which deserves decrying.

By way of damage control, the US could take the initiative to ensure that the democratic process, read as the full empowerment of ordinary people, takes hold in Venezuela. In this manner the US could help in stemming some of the destructive fallout from its abduction operation. Any attempts by the US to take possession of the national wealth of Venezuela at this juncture are bound to earn for it the condemnation of democratic opinion the world over.

Likewise, the US needs to exert all its influence to ensure that the rights of ordinary Ukrainians are protected. It will need to ensure this while exploring ways of stopping further incursions into Ukrainian territory by Russia’s invading forces. It will need to do this in collaboration with the EU which is putting its best foot forward to end the Ukraine blood-letting.

Meanwhile, the repercussions that the Maduro abduction could have on the global South would need to be watched with some concern by the international community. Here too the EU could prove a positive influence since it is doubtful whether the UN would be enabled by the big powers to carry out the responsibilities that devolve on it with the required effectiveness.

What needs to be specifically watched is the ‘copycat effect’ that could manifest among those less democratically inclined Southern rulers who would be inspired by the Trump administration to take the law into their hands, so to speak, and act with callous disregard for the sovereign rights of their smaller and more vulnerable neighbours.

Democratic opinion the world over would need to think of systems of checks and balances that could contain such power abuse by Southern autocratic rulers in particular. The UN and democracy-supportive organizations, such as the EU, could prove suitable partners in these efforts.

All in all it is international lawlessness that needs managing effectively from now on. If President Trump carries out his threat to over-run other countries as well in the manner in which he ran rough-shod over Venezuela, there is unlikely to remain even a semblance of international order, considering that anarchy would be receiving a strong fillip from the US, ‘The World’s Mightiest Democracy’.

What is also of note is that identity politics in particularly the South would be unprecedentedly energized. The narrative that ‘the Great Satan’ is running amok would win considerable validity among the theocracies of the Middle East and set the stage for a resurgence of religious fanaticism and invigorated armed resistance to the US. The Trump administration needs to stop in its tracks and weigh the pros and cons of its current foreign policy initiatives.

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Pure Christmas magic and joy at British School

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Students of The British High School in Colombo in action at the fashion show

The British School in Colombo (BSC) hosted its Annual Christmas Carnival 2025, ‘Gingerbread Wonderland’, which was a huge success, with the students themseles in the spotlight, managing stalls and volunteering.

The event, organised by the Parent-Teacher Association (PTA), featured a variety of activities, including: Games and rides for all ages, Food stalls offering delicious treats, Drinks and refreshments, Trade booths showcasing local products, and Live music and entertainment.

The carnival was held at the school premises, providing a fun and festive atmosphere for students, parents, and the community to enjoy.

The halls of the BSC were filled with pure Christmas magic and joy with the students and the staff putting on a tremendous display.

Among the highlights was the dazzling fashion show with the students doing the needful, and they were very impressive.

The students themselves were eagerly looking forward to displaying their modelling technique and, I’m told, they enjoyed the moment they had to step on the ramp.

The event supported communities affected by the recent floods, with surplus proceeds going to flood-relief efforts.

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Glowing younger looking skin

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Hi! This week I’m giving you some beauty tips so that you could look forward to enjoying 2026 with a glowing younger looking skin.

Face wash for natural beauty

* Avocado:

Take the pulp, make a paste of it and apply on your face. Leave it on for five minutes and then wash it with normal water.

* Cucumber:

Just rub some cucumber slices on your face for 02-03 minutes to cleanse the oil naturally. Wash off with plain water.

* Buttermilk:

Apply all over your face and leave it to dry, then wash it with normal water (works for mixed to oily skin).

Face scrub for natural beauty

Take 01-02 strawberries, 02 pieces of kiwis or 02 cubes of watermelons. Mash any single fruit and apply on your face. Then massage or scrub it slowly for at least 3-5 minutes in circular motions. Then wash it thoroughly with normal or cold water. You can make use of different fruits during different seasons, and see what suits you best! Follow with a natural face mask.

Face Masks

* Papaya and Honey:

Take two pieces of papaya (peeled) and mash them to make a paste. Apply evenly on your face and leave it for 30 minutes and then wash it with cold water.

Papaya is just not a fruit but one of the best natural remedies for good health and glowing younger looking skin. It also helps in reducing pimples and scars. You can also add honey (optional) to the mixture which helps massage and makes your skin glow.

* Banana:

Put a few slices of banana, 01 teaspoon of honey (optional), in a bowl, and mash them nicely. Apply on your face, and massage it gently all over the face for at least 05 minutes. Then wash it off with normal water. For an instant glow on your face, this facemask is a great idea to try!

* Carrot:

Make a paste using 01 carrot (steamed) by mixing it with milk or honey and apply on your face and neck evenly. Let it dry for 15-20 minutes and then wash it with cold water. Carrots work really well for your skin as they have many vitamins and minerals, which give instant shine and younger-looking skin.

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