Europe

In recent months unexpected calls have emerged from unexpected sources questioning whether capitalism is even working any more in a world in which corporate profits refuse to drop leading to paltry wage gains and thus, lack of the all-important wage inflation. Most recently it was none other than Goldman who wrote in February that "we are always wary of guiding for mean reversion. But, if we are wrong and high margins manage to endure for the next few years (particularly when global demand growth is below trend), there are broader questions to be asked about the efficacy of capitalism."

Submitted by Soeren Kern via The Gatestone Institute,

• Conservative Party candidate Zac Goldsmith accused Khan of giving "platform, oxygen and cover" to Islamic extremists. He also accused Khan of "hiding behind Britain's Muslims" by branding as "Islamophobes" those who shed light on his past.

A leading Tory Brexit campaigner has claimed that the controversial Iraq war inquiry report has been delayed until after the EU referendum to avoid embarrassing pro EU Tony Blair David Davis, the former minister of State for Europe, has accused David Cameron of delaying the publication of Sir John Chilcot’s Iraq inquiry to save ‘In’ campaigner Blair’s reputation before the vote on June 23.

Sebastian Payne notes that David Cameron’s fear-mongering over “Brexit” is getting worse:

Mr Johnson’s rhetoric was more measured than Mr Cameron’s, who warned in his speech that voting to leave the bloc could lead to war. “Can we be so sure that peace and stability on our continent are assured beyond any shadow of doubt? Is that a risk worth taking? I would never be so rash as to make that assumption,” he said. The government’s “Project Fear” is turning into “Project Terror”.

I’m late to the much-discussed New York Times Magazine profile of Ben Rhodes, the 38-year-old White House staffer who is President Obama’s “foreign policy guru.” This paragraph early in the piece lets you know (you might think) what an arrogant piece of work is Ben Rhodes. Emphasis mine: