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We’re mad as hell, but please keep taking our money

Bloomberg Opinion Today
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Today's Agenda

Despite All Our Rage, We Are Still Just Consumers in a Cage

If America has a true national pastime any more, one last unifying thread in our shredded cultural tapestry, it's getting SO MAD about stuff, usually online.

We get angry about news stories and TV shows and people, of course, but we also really love to get mad at companies. You have probably forgotten all the companies Americans have been angry with in the past couple of years. Thankfully Sarah Halzack has compiled a truly incredible list, ranging from Amazon.com Inc. to Walmart Inc., with stops along the way at Chick-Fil-A, Nike Inc., Peloton Interactive Inc., Starbucks Corp. and many more. You could easily spend an entire day shopping, eating, getting coffee and working out, only at places that have recently outraged millions of Americans.

Heck, some of them might even have angered you at some point, but you probably kept going anyway, because that is also what Americans do: We post angry stuff online, maybe with a video of us burning our sneakers or something, and then … we go on about our business. That's what we did when we got SO MAD about Nike's Colin Kaepernick ads, for example, as you can see in this Elaine He chart:

So take heart, Corporate America: Whatever political bear trap you step in, you'll almost certainly escape with little or no harm. Sometimes you'll end up in even better shape. Read the whole thing.

Reset Your Impeachment Expectations

This coming Wednesday, the House of Representatives will probably make President Donald Trump just the third president in U.S. history to be formally impeached. The case will then go to the Senate for a "trial." We too often think of these things as normal criminal proceedings, with set rules, impartial Senate "jurors" and a Supreme Court "judge" presiding. But that's asking too much of them, writes Jonathan Bernstein. Impeachments are political theater, resembling a real trial about as much as if you tried to reenact "Law and Order" with a cast of pug puppies, only far less charming.

Further Impeachment Reading: Even thoughtful Trump defenses rely on inaccuracies and straw men. — Ramesh Ponnuru

You Can't Always Get What You Want: Brexit Edition

Die-hard Brexiteers were doubtless chuffed by Prime Minister Boris Johnson's huge victory last week. Sure, he'll get Brexit done, fulfilling their dreams. But the reality of that could be messier than they expect. Johnson now must negotiate a divorce with an EU that still won't just give him whatever he wants, notes Lionel Laurent. In fact, Johnson's big mandate may make it easier to ignore Brexit hard-liners and bend to European demands.

Johnson may also soon face foreign dealmakers looking to buy newly liberated British companies, writes Chris Hughes. AstraZeneca, BAE Systems, BP and more could attract suitors, forcing Johnson to choose between foreign cash and nationalism. 

Further Brit Reading: Brexit clarity could lift sagging consumer confidence, but maybe not enough to save Christmas. — Andrea Felsted 

There's No Easy Way to Quit Huawei 

Also still unresolved is the trading relationship between the U.S. and China; though stocks rallied to fresh records today on last week's phase-one deal. One big question is the fate of Huawei Technologies Co., China's national-champion telecom company. The Trump administration, calling it a national-security threat, has curbed its ability to do business here. But some in the White House and Congress worry about going too far, writes Eli Lake. In the process, they're blowing an opportunity to protect American technology from Huawei's influence.

Germany finds it hard to quit Huawei, too. Some lawmakers there don't want the company anywhere near that country's wireless networks, notes Alex Webb. But Germany can't afford to threaten China trade and needs Huawei's 5G expertise to upgrade its dismal wireless coverage.

Further China-Tech Reading: China is pouring billions into building up its chipmaking capabilities. It's a risky boondoggle. — Shuli Ren 

Bonus Trade-War Reading: Free trade isn't dead, it's just messier. — Tyler Cowen 

Telltale Charts

Not long ago, Boeing Co. said it hoped to resume delivering grounded 737 Max jets to customers this month. Now there's a report it may stop producing the jet altogether, which David Fickling writes would be like McDonald's ditching Big Macs. But the increasingly lengthy delay means it must staunch the bleeding at some point.

The latest OPEC+ agreement to cut oil production got some flashy headlines, but digging into the details shows it's mostly fluff, writes Julian Lee

Further Reading

Sheila Bair still sees too many risks in the banking system. — Elisa Martinuzzi 

Gavin Newsom just threw a wrench in PG&E Corp.'s bankruptcy plan. — Liam Denning 

As Vladimir Putin's influence grows around the world, his people sour on him at home. — Leonid Bershidsky 

Israelis are being dragged to yet another election, but there's no sign the political stalemate will break as long as Benjamin Netanyahu remains around. — Zev Chafets 

A German train company was snarky to Greta Thunberg, but should thank her for all the business. — Leonid Bershidsky 

Trump kind of had a point about toilets: We should raise the cost of water, not make toilets weaker. — Stephen Mihm 

Special Holiday Section: Bloomberg Opinion Book Club

Fifteen books to challenge your assumptions. — Stephen Carter 

Ten books on thinking about thinking. — Barry Ritholtz 

Five books on the biggest business themes of 2019. — Andrew Dunn

ICYMI

Lev Parnas claims he just loaned his wife the $1 million he put in her Russian account.

Travis Kalanick is quickly ditching his Uber Technologies Inc. stock.

Owning a house designed by a star architect is great until you try to sell.

Kickers

Orcas thrive with the help of grandmothers. (h/t Ellen Kominers)

How to eat for free in New York using Python, automation, AI and Instagram. (h/t Scott Kominers)

Quantum weirdness helps heat leap through empty space. 

The 40 best Christmas movies of all time.

Note: Please send free food and complaints to Mark Gongloff at mgongloff1@bloomberg.net.

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