America

Was Hillary Clinton just arrogant and ignorant (which is a decisively bad combination as it is) or did she knowingly traffic in state secrets on an unsecure server?

That’s pretty much what the entire, protracted investigation into her e-mail habits when she was the nation’s top diplomat boils down to. If she was simply arrogant and ignorant, she didn’t lie under oath. If she knew what she was doing was a bad idea when she was doing it, then she probably committed perjury, and obviously that’s no good.

On Monday, in “JPM Looks At Draghi’s ‘Package,’ Finds It ‘Solid’ But Underwhelming,” we noted that according to Mislav Matejka, investors would do well to fade the ECB’s latest attempt to jumpstart inflation, growth, and of course asset prices with Draghi's version of a Keynesian kitchen sink.

“Overall, we believe the latest package is far from a game changer,” Matejka opined.

The nuances of foreign policy do not feature heavily in the ongoing presidential campaign. Every candidate intends to “destroy” the Islamic State; each has concerns about Russian President Vladimir Putin, North Korea, and China; every one of them will defend Israel; and no one wants to talk much about anything else—except, in the case of the Republicans, who rattle their sabers against Iran.

On Wednesday, Donald Trump released the first of what we assume will be many Hillary Clinton attack ads.

http://www.youtube.com/watch?v=17EOM3RTD1Y

As I drove away from Reagan National Airport on Monday, I heard a report on WMAL radio that a group supporting Sen. Bernie Sanders had tweeted out a congratulations to those who had forced the cancellation of Donald Trump’s speech in Chicago.

The tweet called the cancellation a “great victory” and saluted the “thousands” of people and “dozen” groups that had helped bring about the protest.

By the next day (Tuesday), the “victory” did not look so great.