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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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US’ anti-migrant stance set to intensify tensions in Western camp

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Migrant boats land on Western beaches. Credit: PA

The announcement by the US authorities of an anti-migrant stance during a recent commemoration in France of the epochal D-Day Landings of June 6, 1944, ought to strike impartial observers as a supreme irony. Whereas what should have been expected was a vibrant celebration of the beginning of the process of Western Europe freeing itself decisively from Nazi or fascist control during the crucial stages of World War Two, this was not to be.

What the world heard instead was a call to contemporary Western Europe to arm itself against a seemingly rising and threatening migrant presence in the region. In other words, the migrant must be despised and ‘shown the door’.

Instead of a commemoration that rejoiced in the flourishing of liberal democracy and its values what one got was a strong affirmation of fascism and racial chauvinism. US Defense Secretary Pete Hegseth vented his spleen against the migrant or foreigner presence in Europe reportedly thus: ‘Sadly today different European beaches are stormed by different dangerous ideologies.’ To ‘beaches in Spain and Italy and Greece and Bulgaria, boats and men arrive. When will European capitals do something about that invasion?’

While at the outbreak of World War Two it was Nazi Germany that was doing the invading and bringing some principal European countries under its suzerainty, this time around we are being given to understand that it’s migrants to the West who are seeking to colonize the latter. It goes without saying that such inflammatory rhetoric would have the deleterious effect of keeping racial tensions alive in the West and jeopardize all possibilities of the countries concerned cementing and maintaining social stability.

The Trump administration gives the impression of taking a leaf from the politically underdeveloped regions of the South to keep the US polity stable and united. In South Asia, for instance, we are not short of ambitious demagogues who use what is referred to as the ‘race card’ to gather unto themselves a following and thereby further their political fortunes. By seeking to stir and sustain anti-migrant hysteria, the Trump administration is also essentially replicating Nazi Germany’s policy of anti-Semitism. That is, fascism is very much alive in the US under President Trump.

Such efforts at churning racial hysteria at this juncture in the US should not come as a surprise. For all intents and purposes, the Trump administration is nowhere near achieving its aims in West Asia, for instance, in the short term. It has failed to bring Iran down to its knees, as it hoped to do, but is adopting the expedient of keeping the world guessing and confused on what it is doing in the region, since it cannot withdraw from the theatre in a hurry without losing face.

While perhaps working out an escape strategy the Trump administration it seems, is hoping to maintain its following at home intact and silent by playing on their racial biases and insecurities. Hence, the anti-foreigner campaign.

Simultaneously, the Trump administration will need to keep a close eye on how economic pressures on the domestic front are panning out. Anti-administration sentiments first break to the surface at meal tables. On this score, the news cannot be good because the average US family’s spending power ought to be shrinking on account of rising energy and oil prices. Consequently, it would not be a bad idea to keep the attention of the US consumer diverted by adeptly playing ‘the race card’; once again, lessons from intellectually bankrupt Southern politicians are coming in handy.

To be sure such comparisons many politicians in vibrantly democratic countries would find quite unflattering. But the stark truth is that racism cannot be tolerated in civilized societies and those politicians who resort to it risk being branded as racists of the first degree. In fact they could be seen as being on par with the likes of German dictator Adolph Hitler and his close collaborators.

However, on the question of migrant policy the Trump administration would likely be at polar opposites with the most vibrant of liberal democracies of the West. This will be the case with the UK, France and Italy for instance. The latter continue to keep their doors open to legal migrants and they are likely to view a virtual blanket ban on migrants as reprehensible.

Moreover, in the foremost democracies of the West debates are vibrantly ongoing on the need to keep racism or any hint of it completely outlawed in the public plane. There is the case of the UK, for instance, where the authorities continue to emphatically pinpoint their adherence to the principle of anti-racism in the conduct of public affairs.

One proof of the above was the parliamentary debate relating to the killing of 18-year-old Henry Nowak in Southampton. Police handling of the victim came in for sharp scrutiny by particularly the opposition in the House of Commons but there seemed to be a consensus over the main political divide that the matter should not be politicized.

Moreover, the UK authorities stressed in the House the government’s strict adherence to the policy of non-racism. It was also pointed out that British institutions set up to manage racism at the national, county and neighbourhood levels, for example, were very much intact. In fact, Sri Lanka could gain considerably by studying and implementing locally, legislation modeled on the relevant UK laws if it is in earnest when it speaks of ‘reconciliation’.

Accordingly, it is highly unlikely that Western Europe would ‘cave in’, so to speak, to US pressure on issues related to migration. The liberal democracies of Western Europe in particular would remain for the foreseeable future migrant-welcoming, multi-ethnic and plural democracies.

Nor is it likely that Western Europe would be passively receptive to US demands that it drastically increases its defense spending to meet the latter’s demands. Within the Western fold the EU is remaining committed to backing Ukraine, for instance, in its ongoing armed resistance to the Russian invasion and it is not giving any indication of being deferent to US pressure.

However, although tensions would continue to bristle within US-Western Europe relations on the above and numerous other matters of contention it would be far too premature to announce a parting of company between the two sections of the West. In that sense, the post-World War Two order remains essentially intact. There are still many things in common between the two, particular on the economic plane, that will ensure the continuance of the partnership.

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A decade among Yala’s ghosts of gold

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YM75 "James" surveys his territory from a tree-top vantage point, demonstrating the leopard's commanding presence in the landscape.

The first rays of dawn creep over the ancient rocks of Yala. The Indian Ocean glimmers in the distance, and the wilderness slowly awakens. Somewhere amid the scrub jungle, a pair of amber eyes scans the landscape.

For wildlife conservationist and leopard researcher Milinda Wattegedara, moments such as these have defined more than a decade of dedication to one of Sri Lanka’s most iconic creatures—the Sri Lankan leopard.

What began as fascination evolved into a remarkable conservation journey that has transformed the understanding of Yala’s leopard population and placed Sri Lanka firmly on the global wildlife research map.

“Long before I ever lifted a camera, leopards had already captured my imagination,” says Wattegedara. “What fascinated me was not merely their beauty but the complexity of their lives—their hunting strategies, movements, reproductive behaviour and their remarkable ability to adapt to changing environments.”

That fascination led to the birth of the Yala Leopard Diary in 2013, an ambitious long-term project dedicated to documenting individual leopards and unraveling the mysteries surrounding their lives.

For many visitors, a leopard sighting is a fleeting thrill. For Wattegedara and his team, every encounter is a chapter in an ongoing scientific story.

“Each photograph was never the end of an encounter,” he explains. “It was the beginning of deeper questions. How did a particular leopard use the landscape? How did its behaviour change with the seasons? What environmental pressures shaped its decisions?”

These questions drove years of meticulous fieldwork. Every sighting was carefully recorded with details including location, habitat, behaviour, date and time. Photographs were analysed to identify individual animals through unique spot patterns, allowing researchers to distinguish one leopard from another with remarkable accuracy.

What followed was groundbreaking.

YF77 “Shelly” pauses in quiet observation, embodying the alertness
and grace that define Yala’s leopard population.

From 2013 to 2026, the Yala Leopard Diary identified an astonishing 189 individual leopards within the Yala Block 1. The research revealed a leopard density of approximately 0.524 leopards per square kilometre, making Yala one of the highest leopard-density landscapes ever recorded anywhere in the world.

Such findings have elevated Yala’s status among global wildlife researchers.

Nestled between the Indian Ocean and a mosaic of habitats, ranging from rocky outcrops to dense scrub forests, Yala offers an ecological stage unlike any other.

Here, leopards are photographed silhouetted against ocean horizons, perched atop ancient granite formations, resting on tree branches and stalking prey across sunlit grasslands.

The images tell stories of extraordinary lives.

There is Haminee, a devoted mother navigating the challenges of raising cubs in a competitive landscape. There is Lucas, one of Yala’s most frequently documented males, striding confidently across the Gonalabba Plains with the vast ocean forming an unforgettable backdrop.

There is Ruki demonstrating the species’ incredible strength by hoisting prey onto branches, and Shelly, quietly surveying her surroundings in a moment of feline vigilance.

Together, these individuals have become familiar characters in a living wilderness drama.

YM31 “Ruki” secures prey on a branch, illustrating the remarkable strength and coordination of the Sri Lankan leopard.

Recognising the immense value of long-term documentation, Wattegedara joined forces with fellow researchers Dushyantha Silva, Raveendra Siriwardana and Mevan Piyasena to establish the Yala Leopard Centre in 2020.

Located at the Palatupana entrance to the Yala National Park, the centre is believed to be the world’s first information facility dedicated exclusively to leopards.

“The centre serves as a repository of knowledge, accumulated through years of observation and research,” Wattegedara says. “Our goal is to connect visitors with the science behind conservation and foster a deeper appreciation of these magnificent animals.”

The project’s impact extends far beyond Sri Lanka’s borders.

Research arising from the Yala Leopard Diary has been published in internationally recognised scientific journals. One study introduced an innovative framework for identifying individual leopards, while another documented an extraordinary and previously unrecorded case of a leopard cub being consecutively adopted by two different adult females—first a relative and later an unrelated leopardess.

The discovery attracted international scientific attention and highlighted the complexity of leopard social behaviour.

Yet for Wattegedara, the most important lesson remains one of humility.

“One conclusion has become increasingly clear,” he reflects. “Our understanding of these leopards remains far from complete. We are only beginning to understand how they live, adapt and persist in one of Sri Lanka’s most dynamic protected landscapes.”

YF15 “Hope” descends Rukvila Rock at dawn, showcasing the agility and adaptability of Yala’s leopards.

His words underscore an essential conservation truth: the more we learn about nature, the more mysteries emerge.

As Sri Lanka navigates growing environmental challenges, the Yala Leopard Diary stands as a shining example of what sustained observation, scientific curiosity and public engagement can achieve.

Beyond the stunning photographs and remarkable sightings lies something even more valuable—a growing body of knowledge capable of informing future conservation decisions and ensuring that future generations inherit a wilderness where leopards continue to roam free.

For more than a decade, Wattegedara and his colleagues have followed the tracks of Yala’s elusive predators through dust, rain and scorching heat.

Their work has revealed that every leopard has a story, every sighting has significance and every photograph can contribute to conservation.

And perhaps, most importantly, it has reminded us that the golden ghosts of Yala still have many secrets left to share.

By Ifham Nizam

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Glamour, music and community spirit …

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Sri Lankans are quite active, all around the globe.

News has just come my way, from Glasgow, in Scotland, where the glamour of masks, music, dancing, and community spirit, came together, in spectacular fashion, at Masquerade Night, bringing together members of the Sri Lankan community for an evening filled with music, fashion, food and entertainment.

Organised by Mahesh Balaaratchi (DJ Mowgli) together with Sulochana Asmone, Hiroshini, Prasad, Ashi, and Shawn, the evening provided guests with an opportunity to socialise, enjoy live entertainment, and celebrate in a unique and elegant setting.

Guests arrived from 6:00 pm, dressed in formal attire and decorative masks, creating a colourful and vibrant atmosphere throughout the venue.

DJ Mowgli: The main
organiser of
Masquerade Night

There was a delicious selection of Sri Lankan cuisine and street food, which proved popular throughout the evening.

The buffet offered a variety of traditional favourites, giving attendees a taste of home while adding to the festive atmosphere.

Entertainment was provided by DJ Mowgli, whose performance kept the audience engaged throughout the night. His playlist featured a mixture of popular favourites, dance classics, and cultural music, remixed for a younger generation.

One of the highlights of the evening was the Baila session, which brought a distinctly Sri Lankan flavour to the event.

The Baila segment highlighted the importance of preserving and celebrating cultural traditions, while bringing people together through music and dance.

As familiar rhythms filled the room, guests enthusiastically took to the dance floor, creating one of the most memorable moments of the night.

The crowd was described as lively, energetic, and welcoming, with attendees embracing the spirit of the masquerade theme while enjoying the opportunity to reconnect with friends and meet new people. The family-friendly atmosphere ensured that guests of all ages could take part in the celebrations.

The festivities continued until midnight and included a range of competitions and entertainment.

Children and adults alike participated in fashion shows, while guests competed for awards in several ‘Best Dressed’ categories.

The creativity and effort displayed in both costumes and formal wear added an extra layer of excitement to the evening.

As the final songs played and guests prepared to leave, many were already looking forward to the next Event Night.

The evening’s proceedings were handled by Sam, Mahela and Isuru.

Their enthusiasm reflected the growing popularity of these gatherings and their increasing importance, within the local community calendar.

A series of community events has continued to grow in popularity among the Sri Lankans in Glasgow, with Halloween Night coming up on 31st October.

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