Transatlantic handshake, Day 2

UK Prime Minister Gordon Brown topped off his visit to the U.S. with a speech to a full Congress Wednesday to promote his "Partnership of Purpose" with the United States. In a gracious, laudatory and often deferential-to-the-U.S. speech, the PM was forthcoming and direct in his support of the American hegemony and its new chief, President Barack Obama.

In his speech, Mr. Brown also issued a sharp rebuke to the George W. Bush Administration, saying "this is the most pro-American Europe in living memory," suggesting that the U.S.' obvious inability to cooperate with European allies in recent years was not because of ideological differences but because of how the pre-Obama occupant of the Oval Office managed relations with Europe.

For one, Brown looked re-energized, despite the stagnation of his political agenda at home. He appears to be truly renewed by having a trans-Atlantic partner in President Obama with whom there can finally be a dialogue between the UK and US based on respect, debate and exchange of information. He was clearly basking in the limelight.

Mr. Brown's stated objectives on issues such as "expanding scientific research" and eliminating abject poverty around the world are admirable, but there is, with good reason, some skepticism about Mr. Brown's commitment to such policies -- for example, how can a government that wants to help lead the fight against climate change also build a third runway at Europe's busiest hub airport instead of upgrading London's 19th-century public transportation system or investing in newer, more efficient modes of inter-city mass transit?

Some other highlights:
-- Sen. Edward M. Kennedy, the "lion of the Senate," is now SIR Edward Kennedy, thanks to Queen Elizabeth II.
--"A worldwide reduction in interests rates" is needed because the UK and US can't do it alone. This is a sign that the economy's real bad and is going to get much worse. The Bank of England's benchmark rate is already down to a meager 0.5% ("who wants money for free?") and the Fed's federal funds rate is less than that.
-- The Republican side of the house was often slow to applaud to Mr. Brown's proposals. Mr. Brown's stated agenda mirrors that of his American counterpart, and the fissure in Congress is obvious. At one point, when the prime minister attacked offshore tax havens, it took the Republican side of the aisle a good 5 seconds to start applauding (simply out of respect to the Right Honourable guest and not out of agreement).

Transatlantic handshake, Day 1

UK Prime Minister Gordon Brown began his highly symbolic visit with President Obama Tuesday. The unelected Mr. Brown became the first European leader to meet with the new president, beating out formidable opponents in Angela Merkel of Germany and Nicolas Sarkozy of France. Here are some thoughts:

1. We didn't get much of a chance to hear from the prime minister - his formal news conference with President Obama was canceled because of snow in the White House garden (isn't there an indoor spot for news conferences??) - but he and Obama struck all the right notes of cooperation between the traditional Allied powers in a toned-down "pool spray" news conference, pledging to coordinate fiscal stimuli and financial sector re-regulation.

I can't help but think PM Brown, who as Tony Blair's chancellor presided over the UK's financial sector deregulation and expansion of financial services as a hub industry, is in a sticky spot partnering with a president who is farther to the left on the political spectrum and whose criticisms of financial sector regulation could easily apply to Mr. Brown himself.

And for once, a U.S. president dismissed the whims of the stock market. Obama said:

"What I'm looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing. And, you know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, and if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong."

I for one am tired of seeing day-to-day stock market fluctuations covered as "economic" news. The stock market is obviously a good indicator of long-term growth. But markets respond to information and the perceived implications of that information - so when the markets fall, it is due to more than one factor than merely the state of the economy at any one given moment.

2. The electoral effect - How will Brown's new relationship with Obama improve the Labour party's electoral prospects? Certainly Britons may want a leader who can mesh well with the new president, and we already know Obama isn't too impressed with the prime minister-in-waiting, David Cameron.

3. Brown challenged Obama to a tennis match while conceding he'd probably lose to Obama in basketball. The duo will meet again in less than a month at the G/20 summit in London - Obama should pack his racket.

Brown will address Congress Wednesday night - tune in here for a recap of Day Two.