Good morning. It’s Friday. Yeah! The week is coming to an end. DJ, play that music. Something a bit upbeat, as it’s Friday. How about some David Gray? If you haven’t heard his song ‘Kathleen’, I highly suggest listening to it.
Pope
The world watched with anticipation and joy as the Vatican announced the election of Pope Leo XIV, marking a historic and electrifying moment for Catholics everywhere. The excitement was palpable in St. Peter’s Square and across the globe, as the newly elected pontiff-Cardinal Robert Francis Prevost, the first American to assume the papacy-stepped onto the balcony and greeted the faithful with a message of peace and unity. His inaugural words, “Peace be with you,” echoed the greeting of the Risen Christ and set the tone for a pontificate dedicated to dialogue, charity, and a Church that walks together in solidarity, especially with those who suffer.
Pope Leo XIV’s heartfelt speech invoked the memory of Pope Francis and pledged to continue building bridges within the Church and beyond, emphasizing humility, perseverance, and unconditional love. The announcement has ignited hope and enthusiasm, as Catholics look forward to a new chapter under a leader who promises to guide a synodal, missionary Church, ever seeking justice and peace for all.
US – UK Deal
The day before, the US touted that they had a big announcement—the first of what was to be many.
The much-ballyhooed US-UK trade deal arrived with all the fanfare of a royal wedding, but for Americans, the afterparty has been more of a hangover than a celebration. Before “Liberation Day,” tariffs on British goods were a modest 1%. Now, thanks to the deal, the effective tariff rate has jumped to 11%-a far cry from the good old days when British imports were practically slipping through customs on a red carpet. Sure, it’s technically better than the 13% rate imposed in the immediate aftermath of “Liberation Day,” but that’s like saying a stubbed toe is better than a broken leg: neither is much fun, and both leave you limping.
For American consumers, this means British goods-from luxury cars to biscuits-are now more expensive than they were a year ago. The promise of cheaper imports has vanished faster than a plate of scones at afternoon tea. Most US importers of UK goods are now bracing to raise prices, having absorbed the extra costs as long as they could. The 10% baseline tariff remains firmly in place, and for anything over the quota-like British cars-the rate jumps to a whopping 25%. So, if you were hoping to snag a deal on a new McLaren or a box of Yorkshire tea, prepare to pay more than ever.
Meanwhile, American automakers are grumbling that it’s now cheaper to import a car from Britain than from Mexico or Canada, despite those neighbors buying far more from US factories. The deal’s main “win” for Americans is that things didn’t get even worse, not that they got better. In fact, compared to pre-Liberation Day, Americans are left footing a higher bill at the checkout, all while the UK gets to trumpet a political victory and US politicians get to claim they’ve struck a “historic” agreement. If this is progress, it’s the kind that makes you nostalgic for the status quo.
So, after all the speeches and photo ops, Americans are left with a deal that’s worse than what they had before-a reminder that sometimes, the only thing historic about a trade agreement is how quickly it can make your wallet feel lighter.
This has got to be a joke. This is what was touted and you couldn’t wait to announce. Give me a break.
Lastly….
Peter Zeihan had a good take with data about why the recession is coming and how the American consumer is going to be hit hard.
With the announcement of the new Pope. People are starting to wonder once again where their religious principles align.
Do your religious principles take priority over your political ideology? They should. Yet, it’s all too common to see them overshadowed by deeply ingrained political tribalism. This often leads to a dangerous imbalance where values rooted in faith and morality are compromised for the sake of partisan loyalty. Reflecting on this, it’s crucial to ask ourselves: are we aligning our actions and beliefs with what truly matters, or are we allowing political affiliations to dictate our moral compass?
Have a good Friday!