Over the weekend, Day 100 of the new administration came and went.  These last 3+ months surely pleased business elites who have long complained of government over-regulation in financial services and environmental safety as Trump’s executive orders have begun to unravel regulatory structures put in place by the previous three Presidents. However, our new President has failed to break ground on his wall, implement tax reform, abolish Obama Care or halt Muslim immigration, though not for lack of trying.  It turns out, even with a Republican congress, it’s difficult to accomplish things if you have no real notion of policy or direction. It’s clear his administration is not ready to tackle any of these issues in comprehensive ways.  We’ll have to wait and see if he can adapt to the reality of governance in a pluralistic country and find consensus on these thorny issues.