Rifles

The Pronk Pops Show 1010, December 8, 2017, Story 1: Labor Participation Rate In November 2017 Remained At 62.7% with Over 95.4 Million Not in Labor Force With 160.5 Million In Labor Force –U-3 Unemployment Rate Hit Low 4.1% and U-6 Unemployment Rate Rose To 8.0% — Total Non-farm Payroll Jobs Added 228,000 — Videos — Story 2: Corporate Tax Cut Bill Will Pass By December 22, 2017 — Definitively Not Fundamental Tax Reform For The Middle Class — Replace Income Tax System with A Single Broad Based Consumption Tax Replacing All Federal Income Based Taxes — Videos — Story 3: Defeating The Islamic State in Iraq and Syria By Bombing Them To Death — ISIS Free? — Videos

Posted on December 11, 2017. Filed under: American History, Blogroll, Bombs, Breaking News, Communications, Congress, Constitutional Law, Corruption, Countries, Cruise Missiles, Donald J. Trump, Donald Trump, Drones, Economics, Education, Elections, Empires, Employment, European History, Federal Communications Commission, Fiscal Policy, Foreign Policy, Free Trade, Freedom of Speech, Genocide, Government, Government Dependency, History, House of Representatives, Human Behavior, Illegal Immigration, Illegal Immigration, Immigration, Independence, Iraq, Islam, Israel, Killing, Knifes, Language, Law, Legal Immigration, Lying, Media, Middle East, MIssiles, National Interest, National Security Agency, Networking, News, People, Philosophy, Photos, Politics, Polls, President Trump, Raymond Thomas Pronk, Regulation, Religion, Rifles, Rule of Law, Scandals, Spying, Success, Surveillance and Spying On American People, Surveillance/Spying, Syria, Tax Policy, Taxation, Taxes, Terror, Terrorism, Trade Policy, Trump Surveillance/Spying, Turkey, Unemployment, United States of America, Videos, Violence, War, Weapons, Weather, Wisdom, Yemen | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 1010, December 8, 2017

Pronk Pops Show 1009, December 7, 2017

Pronk Pops Show 1008, December 1, 2017

Pronk Pops Show 1007, November 28, 2017

Pronk Pops Show 1006, November 27, 2017

Pronk Pops Show 1005, November 22, 2017

Pronk Pops Show 1004, November 21, 2017

Pronk Pops Show 1003, November 20, 2017

Pronk Pops Show 1002, November 15, 2017

Pronk Pops Show 1001, November 14, 2017 

Pronk Pops Show 1000, November 13, 2017

Pronk Pops Show 999, November 10, 2017

Pronk Pops Show 998, November 9, 2017

Pronk Pops Show 997, November 8, 2017

Pronk Pops Show 996, November 6, 2017

Pronk Pops Show 995, November 3, 2017

Pronk Pops Show 994, November 2, 2017

Pronk Pops Show 993, November 1, 2017

Pronk Pops Show 992, October 31, 2017

Pronk Pops Show 991, October 30, 2017

Pronk Pops Show 990, October 26, 2017

Pronk Pops Show 989, October 25, 2017

Pronk Pops Show 988, October 20, 2017

Pronk Pops Show 987, October 19, 2017

Pronk Pops Show 986, October 18, 2017

Pronk Pops Show 985, October 17, 2017

Pronk Pops Show 984, October 16, 2017 

Pronk Pops Show 983, October 13, 2017

Pronk Pops Show 982, October 12, 2017

Pronk Pops Show 981, October 11, 2017

Pronk Pops Show 980, October 10, 2017

Pronk Pops Show 979, October 9, 2017

Pronk Pops Show 978, October 5, 2017

Pronk Pops Show 977, October 4, 2017

Pronk Pops Show 976, October 2, 2017

Pronk Pops Show 975, September 29, 2017

Pronk Pops Show 974, September 28, 2017

Pronk Pops Show 973, September 27, 2017

Pronk Pops Show 972, September 26, 2017

Pronk Pops Show 971, September 25, 2017

Pronk Pops Show 970, September 22, 2017

Pronk Pops Show 969, September 21, 2017

Pronk Pops Show 968, September 20, 2017

Pronk Pops Show 967, September 19, 2017

Pronk Pops Show 966, September 18, 2017

Pronk Pops Show 965, September 15, 2017

Pronk Pops Show 964, September 14, 2017

Pronk Pops Show 963, September 13, 2017

Pronk Pops Show 962, September 12, 2017

Pronk Pops Show 961, September 11, 2017

Pronk Pops Show 960, September 8, 2017

Pronk Pops Show 959, September 7, 2017

Pronk Pops Show 958, September 6, 2017

Pronk Pops Show 957, September 5, 2017

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Story 1: Labor Participation Rate In November 2017 Remained At 62.7% with Over 95.4 Million Not in Labor Force With 160.5 Million In Labor Force –U-3 Unemployment Rate Hit Low 4.1% and U-6 Unemployment Rate Rose To 8.0% — Total Non-farm Payroll Jobs Added 228,000 — Videos —

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US economy adds 228K jobs in November

Analyzing The November Jobs Report Compared To Previous Years | Velshi & Ruhle | MSNBC

U.S. economy continues its strong performance

National Economic Council Director Gary Cohn: Tax Reform Will Help Us Drive Real Wage Growth | CNBC

CNN’s Christine Romans Highlights November’s Really Good Jobs Numbers

Larry Kudlow: Jobs Report Shows We Are On Front End Of “Very, Very Strong Rebound In Manufacturing”

Panel on Strong November Jobs Report; 228K Jobs Added. #Economy #Jobs #Report #November

Stockman: Here’s Why Today’s Jobs Report Is Nothing to Celebrate

Alan Greenspan // We are about to go from stagnation to ‘stagflation’

Ep. 307: Trump Continues What He Once Called the Biggest Hoax in American Politics

The Reason Trump is President – Peter Schiff

 

Civilian Labor Force Level

160,529,000

 

Labor Force Statistics from the Current Population Survey

 

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154063(1) 153653 153908 153769 154303 154313 154469 154641 154570 154876 154639 154655
2009 154210(1) 154538 154133 154509 154747 154716 154502 154307 153827 153784 153878 153111
2010 153484(1) 153694 153954 154622 154091 153616 153691 154086 153975 153635 154125 153650
2011 153263(1) 153214 153376 153543 153479 153346 153288 153760 154131 153961 154128 153995
2012 154381(1) 154671 154749 154545 154866 155083 154948 154763 155160 155554 155338 155628
2013 155695(1) 155268 154990 155356 155514 155747 155669 155587 155731 154709 155328 155151
2014 155295(1) 155485 156115 155378 155559 155682 156098 156117 156100 156389 156421 156238
2015 157022(1) 156771 156781 157043 157447 156993 157125 157109 156809 157123 157358 157957
2016 158362(1) 158888 159278 158938 158510 158889 159295 159508 159830 159643 159456 159640
2017 159716(1) 160056 160201 160213 159784 160145 160494 160571 161146 160381 160529
1 : Data affected by changes in population controls.

 

Labor Force Participation Rate

62.7%

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.1 64.2 64.2 64.1 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.8 63.8 63.7 63.7 63.8 63.7 63.5 63.6 63.8 63.6 63.7
2013 63.6 63.4 63.3 63.4 63.4 63.4 63.3 63.3 63.3 62.8 63.0 62.9
2014 62.9 62.9 63.1 62.8 62.8 62.8 62.9 62.9 62.8 62.9 62.9 62.7
2015 62.9 62.7 62.7 62.8 62.9 62.6 62.6 62.6 62.4 62.5 62.5 62.7
2016 62.7 62.9 63.0 62.8 62.6 62.7 62.8 62.8 62.9 62.8 62.6 62.7
2017 62.9 63.0 63.0 62.9 62.7 62.8 62.9 62.9 63.1 62.7 62.7

Unemployment Level

6.6 Million

 

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7685 7497 7822 7637 8395 8575 8937 9438 9494 10074 10538 11286
2009 12058 12898 13426 13853 14499 14707 14601 14814 15009 15352 15219 15098
2010 15046 15113 15202 15325 14849 14474 14512 14648 14579 14516 15081 14348
2011 14013 13820 13737 13957 13855 13962 13763 13818 13948 13594 13302 13093
2012 12797 12813 12713 12646 12660 12692 12656 12471 12115 12124 12005 12298
2013 12470 11954 11672 11752 11657 11741 11350 11284 11264 11133 10792 10410
2014 10240 10383 10400 9705 9740 9460 9637 9616 9255 8964 9060 8718
2015 8962 8663 8538 8521 8655 8251 8235 8017 7877 7869 7939 7927
2016 7829 7845 7977 7910 7451 7799 7749 7853 7904 7740 7409 7529
2017 7635 7528 7202 7056 6861 6977 6981 7132 6801 6520 6610

U-3 Unemployment Rate

4.1%

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.8 9.8 9.9 9.9 9.6 9.4 9.4 9.5 9.5 9.4 9.8 9.3
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.3 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.7 7.9
2013 8.0 7.7 7.5 7.6 7.5 7.5 7.3 7.3 7.2 7.2 6.9 6.7
2014 6.6 6.7 6.7 6.2 6.3 6.1 6.2 6.2 5.9 5.7 5.8 5.6
2015 5.7 5.5 5.4 5.4 5.5 5.3 5.2 5.1 5.0 5.0 5.0 5.0
2016 4.9 4.9 5.0 5.0 4.7 4.9 4.9 4.9 4.9 4.8 4.6 4.7
2017 4.8 4.7 4.5 4.4 4.3 4.4 4.3 4.4 4.2 4.1 4.1  U-3

U-6 Unemployment Rate

8.0%

 

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.1 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.2 16.0 15.9 16.1 15.8 16.1 15.9 16.1 16.4 15.8 15.5 15.2
2012 15.2 15.0 14.5 14.6 14.7 14.8 14.8 14.6 14.8 14.4 14.4 14.4
2013 14.5 14.4 13.8 14.0 13.8 14.2 13.8 13.6 13.7 13.6 13.1 13.1
2014 12.7 12.6 12.6 12.3 12.1 12.0 12.2 12.0 11.8 11.5 11.4 11.2
2015 11.3 11.0 10.9 10.8 10.7 10.5 10.3 10.2 10.0 9.8 9.9 9.9
2016 9.9 9.8 9.8 9.7 9.7 9.6 9.7 9.7 9.7 9.5 9.3 9.2
2017 9.4 9.2 8.9 8.6 8.4 8.6 8.6 8.6 8.3 7.9 8.0

Employment Situation Summary

Transmission of material in this release is embargoed until                  USDL-17-1616
8:30 a.m. (EST) Friday, December 8, 2017

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov


                         THE EMPLOYMENT SITUATION -- NOVEMBER 2017


Total nonfarm payroll employment increased by 228,000 in November, and the unemployment 
rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. 
Employment continued to trend up in professional and business services, manufacturing, 
and health care.

Household Survey Data

The unemployment rate held at 4.1 percent in November, and the number of unemployed 
persons was essentially unchanged at 6.6 million. Over the year, the unemployment rate 
and the number of unemployed persons were down by 0.5 percentage point and 799,000, 
respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for teenagers increased to 15.9 
percent in November. The jobless rates for adult men (3.7 percent), adult women (3.7 
percent), Whites (3.6 percent), Blacks (7.3 percent), Asians (3.0 percent), and Hispanics 
(4.7 percent) showed little change. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially 
unchanged at 1.6 million in November and accounted for 23.8 percent of the unemployed. 
Over the year, the number of long-term unemployed was down by 275,000. (See table A-12.)

The labor force participation rate remained at 62.7 percent in November and has shown no 
clear trend over the past 12 months. The employment-population ratio, at 60.1 percent, 
changed little in November and has shown little movement, on net, since early this year. 
(See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as 
involuntary part-time workers), at 4.8 million, was essentially unchanged in November but 
was down by 858,000 over the year. These individuals, who would have preferred full-time 
employment, were working part time because their hours had been cut back or because they 
were unable to find full-time jobs. (See table A-8.)

In November, 1.5 million persons were marginally attached to the labor force, down by 
451,000 from a year earlier. (The data are not seasonally adjusted.) These individuals 
were not in the labor force, wanted and were available for work, and had looked for a job 
sometime in the prior 12 months. They were not counted as unemployed because they had not 
searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 469,000 discouraged workers in November, down by 
122,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers 
are persons not currently looking for work because they believe no jobs are available for 
them. The remaining 1.0 million persons marginally attached to the labor force in November 
had not searched for work for reasons such as school attendance or family responsibilities. 
(See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 228,000 in November. Employment continued to 
trend up in professional and business services, manufacturing, and health care. Employment 
growth has averaged 174,000 per month thus far this year, compared with an average monthly 
gain of 187,000 in 2016. (See table B-1.)

Employment in professional and business services continued on an upward trend in November 
(+46,000). Over the past 12 months, the industry has added 548,000 jobs. 

In November, manufacturing added 31,000 jobs. Within the industry, employment rose in 
machinery (+8,000), fabricated metal products (+7,000), computer and electronic products 
(+4,000), and plastics and rubber products (+4,000). Since a recent low in November 2016, 
manufacturing employment has increased by 189,000.

Health care added 30,000 jobs in November. Most of the gain occurred in ambulatory health 
care services (+25,000), which includes offices of physicians and outpatient care centers. 
Monthly employment growth in health care has averaged 24,000 thus far in 2017, compared 
with an average increase of 32,000 per month in 2016. 

Within construction, employment among specialty trade contractors increased by 23,000 in 
November and by 132,000 over the year.  

Employment in other major industries, including mining, wholesale trade, retail trade, 
transportation and warehousing, information, financial activities, leisure and hospitality, 
and government, changed little over the month. 

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour 
to 34.5 hours in November. In manufacturing, the workweek was unchanged at 40.9 hours, and 
overtime remained at 3.5 hours. The average workweek for production and nonsupervisory 
employees on private nonfarm payrolls was unchanged at 33.7 hours. (See tables B-2 and 
B-7.)

In November, average hourly earnings for all employees on private nonfarm payrolls rose 
by 5 cents to $26.55. Over the year, average hourly earnings have risen by 64 cents, or 
2.5 percent. Average hourly earnings of private-sector production and nonsupervisory 
employees rose by 5 cents to $22.24 in November. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for September was revised up from +18,000 
to +38,000, and the change for October was revised down from +261,000 to +244,000. With 
these revisions, employment gains in September and October combined were 3,000 more than 
previously reported. (Monthly revisions result from additional reports received from 
businesses and government agencies since the last published estimates and from the 
recalculation of seasonal factors.) After revisions, job gains have averaged 170,000 over 
the last 3 months. 

_____________
The Employment Situation for December is scheduled to be released on Friday, January 5, 
2018, at 8:30 a.m. (EST).


    ______________________________________________________________________________________
   |                                                                                      |
   |               Revision of Seasonally Adjusted Household Survey Data                  |
   |                                                                                      |
   | In accordance with usual practice, The Employment Situation news release for December|
   | 2017, scheduled for January 5, 2018, will incorporate annual revisions in seasonally |
   | adjusted household survey data. Seasonally adjusted data for the most recent 5       |
   | years are subject to revision.                                                       |
   |______________________________________________________________________________________|


    ______________________________________________________________________________________
   |                                                                                      |
   |        Conversion to the 2017 North American Industry Classification System          |
   |                                                                                      |
   | With the release of January 2018 data on February 2, 2018, the establishment survey  |
   | will revise the basis for industry classification from the 2012 North American       |
   | Industry Classification System (NAICS) to 2017 NAICS. The conversion to 2017 NAICS   |
   | will result in minor revisions reflecting content changes within the mining and      |
   | logging, retail trade, information, financial activities, and professional and       |
   | business services sectors. Additionally, some smaller industries will be combined    |
   | within the mining and logging, durable goods manufacturing, retail trade, and        |
   | information sectors. Several industry titles and descriptions also will be updated.  |
   |                                                                                      |
   | Approximately 4 percent of employment will be reclassified into different industries |
   | as a result of the revision. Details of new, discontinued, and combined industries   |
   | due to the 2017 NAICS update, as well as changes due to the annual benchmarking      |
   | process, will be available on January 5, 2018.                                       |
   |                                                                                      |
   | For more information on the 2017 NAICS update, visit www.census.gov/eos/www/naics/.  |
   |______________________________________________________________________________________|



 

https://www.bls.gov/news.release/empsit.nr0.htm

Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted
[Numbers in thousands]
Category Nov.
2016
Sept.
2017
Oct.
2017
Nov.
2017
Change from:
Oct.
2017-
Nov.
2017

Employment status

Civilian noninstitutional population

254,540 255,562 255,766 255,949 183

Civilian labor force

159,456 161,146 160,381 160,529 148

Participation rate

62.6 63.1 62.7 62.7 0.0

Employed

152,048 154,345 153,861 153,918 57

Employment-population ratio

59.7 60.4 60.2 60.1 -0.1

Unemployed

7,409 6,801 6,520 6,610 90

Unemployment rate

4.6 4.2 4.1 4.1 0.0

Not in labor force

95,084 94,417 95,385 95,420 35

Unemployment rates

Total, 16 years and over

4.6 4.2 4.1 4.1 0.0

Adult men (20 years and over)

4.3 3.9 3.8 3.7 -0.1

Adult women (20 years and over)

4.2 3.9 3.6 3.7 0.1

Teenagers (16 to 19 years)

15.2 12.9 13.7 15.9 2.2

White

4.2 3.7 3.5 3.6 0.1

Black or African American

8.0 7.0 7.5 7.3 -0.2

Asian

3.0 3.7 3.1 3.0 -0.1

Hispanic or Latino ethnicity

5.7 5.1 4.8 4.7 -0.1

Total, 25 years and over

3.9 3.5 3.3 3.3 0.0

Less than a high school diploma

7.9 6.5 5.7 5.2 -0.5

High school graduates, no college

4.9 4.3 4.3 4.3 0.0

Some college or associate degree

3.9 3.6 3.7 3.6 -0.1

Bachelor’s degree and higher

2.3 2.3 2.0 2.1 0.1

Reason for unemployment

Job losers and persons who completed temporary jobs

3,542 3,359 3,227 3,159 -68

Job leavers

934 738 742 751 9

Reentrants

2,266 2,079 2,006 2,029 23

New entrants

728 669 629 691 62

Duration of unemployment

Less than 5 weeks

2,415 2,226 2,129 2,250 121

5 to 14 weeks

2,133 1,874 1,942 1,878 -64

15 to 26 weeks

1,073 963 853 927 74

27 weeks and over

1,856 1,733 1,621 1,581 -40

Employed persons at work part time

Part time for economic reasons

5,659 5,122 4,753 4,801 48

Slack work or business conditions

3,485 3,121 2,952 2,983 31

Could only find part-time work

1,902 1,733 1,629 1,559 -70

Part time for noneconomic reasons

21,059 21,011 20,923 21,018 95

Persons not in the labor force (not seasonally adjusted)

Marginally attached to the labor force

1,932 1,569 1,535 1,481

Discouraged workers

591 421 524 469

– Over-the-month changes are not displayed for not seasonally adjusted data.
NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Nov.
2016
Sept.
2017
Oct.
2017(P)
Nov.
2017(P)

EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)

Total nonfarm

164 38 244 228

Total private

178 50 247 221

Goods-producing

35 26 34 62

Mining and logging

7 4 1 7

Construction

28 13 10 24

Manufacturing

0 9 23 31

Durable goods(1)

3 6 13 27

Motor vehicles and parts

1.4 -3.1 -0.8 1.7

Nondurable goods

-3 3 10 4

Private service-providing

143 24 213 159

Wholesale trade

5.6 7.3 8.0 3.4

Retail trade

-12.9 11.7 -2.2 18.7

Transportation and warehousing

21.8 18.3 7.6 10.5

Utilities

0.3 0.6 0.1 -0.2

Information

-12 -5 -8 -4

Financial activities

12 12 7 8

Professional and business services(1)

46 30 54 46

Temporary help services

25.5 10.1 17.9 18.3

Education and health services(1)

31 23 24 54

Health care and social assistance

28.2 8.3 34.6 40.5

Leisure and hospitality

44 -75 104 14

Other services

7 1 18 9

Government

-14 -12 -3 7

(3-month average change, in thousands)

Total nonfarm

179 128 163 170

Total private

178 122 160 173

WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES
AS A PERCENT OF ALL EMPLOYEES(2)

Total nonfarm women employees

49.6 49.5 49.5 49.5

Total private women employees

48.2 48.1 48.1 48.1

Total private production and nonsupervisory employees

82.3 82.4 82.4 82.4

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.3 34.4 34.4 34.5

Average hourly earnings

$25.91 $26.53 $26.50 $26.55

Average weekly earnings

$888.71 $912.63 $911.60 $915.98

Index of aggregate weekly hours (2007=100)(3)

105.8 107.4 107.7 108.2

Over-the-month percent change

-0.1 0.0 0.3 0.5

Index of aggregate weekly payrolls (2007=100)(4)

131.0 136.3 136.4 137.3

Over-the-month percent change

-0.2 0.5 0.1 0.7

DIFFUSION INDEX
(Over 1-month span)(5)

Total private (261 industries)

51.5 60.9 65.1 63.0

Manufacturing (78 industries)

48.7 59.0 62.2 59.0

Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(P) Preliminary

NOTE: Data have been revised to reflect March 2016 benchmark levels and updated seasonal adjustment factors.

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Precision sacrificed for speed as GOP rushes ahead on taxes

5 tax issues Republicans need to resolve in conference

Now that the Senate and the House have passed two tax bills, there are some crucial differences they need to resolve in conference.

 December 10 at 6:42 PM
Republicans are moving their tax plan toward final passage at stunning speed, blowing past Democrats before they’ve had time to fully mobilize against it but leaving the measure vulnerable to the types of expensive problems popping up in their massive and complex plan.Questionable special-interest provisions have been stuffed in along the way, out of public view and in some cases literally in the dead of night. Drafting errors by exhausted staff are cropping up and need fixes, which must be tackled by congressional negotiators working to reconcile competing versions of the legislation passed separately by the House and the Senate.And the melding process underway has opened the door to another frenzy of 11th-hour lobbying as special interests, including President Trump’s rich friends, make one last dash for cash before the final bill speeds through both chambers of Congress and onto Trump’s desk. Passage is expected the week before Christmas.

Veterans of congressional tax overhauls, particularly the seminal revamp under President Ronald Reagan in 1986, have been stunned and in some cases outraged at how swiftly Republicans are moving on legislation that touches every corner of the economy and all Americans. And although GOP leaders make no apologies, some in their rank and file say that the process would have benefited from a more deliberate and open approach.

“I think it would have looked better if we had taken more time and had more transparency, had more open committee hearings,” said freshman Rep. James Comer (R-Ky.).

“Having said that, the goal that everybody had was to reduce the tax rates. . . . So at the end of the day the goal is going to be achieved, but we could have done it in a more transparent manner that probably would have given the voters that are being polled a little more confidence,” Comer said, referring to the effort’s poor showing in opinion surveys.

It has been a little more than a month since the $1.5 trillion legislation was introduced in the House, and in that short time it has cleared the two key committees in the House and Senate and won approval on the floors of both chambers, all without a single Democratic vote. If Trump signs the bill as planned before Christmas, that would mean a journey of less than two months between introduction and final passage.

The specific legislation that probably will become law, sold as a middle-class tax cut but featuring a massive corporate rate reduction at its center, is moving from release toward passage without any hearings, unusual for a bill of such magnitude. And as it tumbled along it picked up some startling new features, to the surprise of affected industries, Democrats and in some cases Republicans themselves.

Some of the most notable changes came in the hours before the Senate’s passage of its version of the plan, which happened about 1:50 a.m. Dec. 2.

The final vote was preceded by hours of inaction as Republicans fine-tuned their legislation behind closed doors, while fuming Democratic staffers ate Chinese food and pored over versions of the bill and lists of amendments that had been leaked by lobbyists on K Street before Republicans had made anything public.

As they got additional drafts of the bill, Democrats were incensed at some of what they found, including new breaks for the oil and gas industry, and a provision that appeared aimed specifically at helping Hillsdale College, a small liberal arts college in Michigan that doesn’t accept federal funding and has a large endowment funded by wealthy conservatives — including the family of Education Secretary Betsy DeVos.

An angry Sen. Bernie Sanders (I-Vt.) stood on his chamber’s floor to declare that “the federal treasury is being looted.” In their one victory of the debate, Democrats offered an amendment to strike the Hillsdale provision, and with the help of four Republicans it passed.

Democrats weren’t the only ones surprised by what was in the bill. Republicans and the business community were stunned when the final Senate version restored the alternative minimum tax for corporations. The tax, aimed at keeping companies from shirking their tax duties entirely, had been repealed in the House bill and earlier versions of the Senate measure.

Restoring the corporate alternative minimum tax created $40 billion in revenue for the bill, which helped Republicans come in under complex budgetary guidelines saying the legislation can’t go over the $1.5 trillion the GOP has agreed to add to the deficit over the next decade. Still, some Republicans professed not to know how the change had come about.

And under the new tax code the GOP bill would create, including the alternative minimum tax could have the unintended consequence of preventing companies from using other deductions, including the popular research and development tax credit.

“I’m guessing they just needed something quick to make the bill work,” said Rep. Devin Nunes (R-Calif.), who is one of the conferees charged with blending the two bills together.

Now, as quickly as it reappeared, the corporate alternative minimum tax probably will disappear again. Republican lawmakers widely agree that it doesn’t work and can’t be included, but it remains a mystery where they’ll find revenue to offset that change and pay for others they’re looking to include in the final package.

There has been discussion of moving the corporate rate — slashed from 35 percent to 20 percent by the House and Senate — back up to 22 percent, but the backlash against that proposal has been intense and it probably will be dropped. But revenue must be found somewhere because there are some changes that look nearly certain, including adjusting the new limit on deducting state and local taxes. Both the House and Senate legislation would allow taxpayers to deduct only up to $10,000 in property taxes. Some of Trump’s New York friends have taken exception to that provision and have lobbied the president personally against it.

It’s all part of a breakneck pace of the tax plan that contrasts with the nearly a year-and-a-half that passed between when Reagan unveiled his initial version of the 1986 tax plan and its ultimate passage into law. The less far-ranging tax cuts that President George W. Bush signed in 2001 took four months to become law after the release of Bush’s initial blueprint. And the Affordable Care Act took nearly a year to complete, including a congressional summer recess featuring angry town hall meetings that turned public sentiment sharply against the bill.

Democrats accuse Republicans of whisking the legislation along to avoid extended public scrutiny and prevent them from mounting an offensive at public hearings or over lengthy congressional breaks. The GOP bills have endured neither.

“It’s clear that we could have defeated this bill had we gone through regular order and had any expert witness from any blue state or high-tax state come in,” said Rep. John B. Larson (Conn.), who was a member of Democratic leadership during the much lengthier and more open process of passing the ACA. The provision limiting taxpayers’ ability to deduct state and local taxes hits high-tax areas such as California, New York, New Jersey and Connecticut particularly hard.

“People would have said, ‘Well, wait a minute,’ ” Larson said.

Republican congressional leaders dispute such comparisons, saying that the process on taxes has been going on for years, given that the party has long been debating the idea and an early foundational bill was released by then-Rep. Dave Camp (R-Mich.), former chairman of the tax-writing Ways and Means Committee, nearly four years ago. House Republicans, led by Speaker Paul D. Ryan (Wis.), also campaigned last year on an agenda called “A Better Way,” which featured a tax plank similar in many respects to the bill the House ultimately passed, although it drew scant attention at the time.

“These are relatively small bills, 400 pages or so; they’re not hard to digest. The policy decisions, the thoughtfulness, a lot of these issues we’ve been debating together and apart for years,” said House Ways and Means Chairman Kevin Brady (R-Tex.). “Bottom line is the American people have been waiting 30 years. So to paraphrase a hardware store: less talking, more doing.”

Even before the late-night Senate dramatics, the process offered surprises and sudden twists.

A provision repealing an Affordable Care Act requirement for most Americans to carry insurance or pay fines was added to the Senate bill with little warning over the course of an afternoon, a major health policy decision that is projected to leave 13 million more Americans uninsured in a decade but that would give Republicans $330 billion to pay for other things they want to do.

And the release of the House bill stunned manufacturers when they discovered it contained an “excise tax” on purchases from American companies’ foreign subsidiaries that some said could drive them out of business. The provision was watered down before passage by the Ways and Means Committee, but companies are still fighting to keep it out of the final bill, said Nancy McLernon, president of the Organization for International Investment, which represents global companies with U.S. operations. Despite the years-long focus on tax overhaul, such a provision had not been debated — even after companies beat back a different import tax, she said.

The Senate has a different provision that companies like better, but as far as the cost of going from one to the other or how it will all shake out, “It’s all a Rubik’s cube,” McLernon said.

Many lobbyists, Democrats and other observers expect to find the final version of the plan, which could be filed late this week, just as full of surprises as the various iterations that have appeared. But as they gun for a legislative win that has eluded them this year, Republicans show little interest in slowing down to take a closer look.

“The frenzy, and I would call it a frenzy, to get it done and have a Christmas present for America — number one, I think it’s unnecessary; it’s a self-imposed deadline, and number two, it makes the possibility for error much greater,” said Steve Bell, a senior adviser at the Bipartisan Policy Center who was staff director of the Senate Budget Committee during the 1986 tax effort. “This is a rush without a reason other than the political desire for a Rose Garden signing ceremony.”

Mike DeBonis contributed to this report.

https://www.washingtonpost.com/business/economy/precision-sacrificed-for-speed-as-gop-rushes-ahead-on-taxes/2017/12/10/876ab274-dc62-11e7-b1a8-62589434a581_story.html?utm_term=.167e53dc0cba

 

The Taxman Cometh: Senate Bill’s Marginal Rates Could Top 100% for Some

Certain high-income business owners would face backwards incentives; lawmakers work to bridge gap

House and Senate Republicans are trying to reconcile their tax bills to get rid of the most contentious proposals.
House and Senate Republicans are trying to reconcile their tax bills to get rid of the most contentious proposals. PHOTO: DANIEL ACKER/BLOOMBERG NEWS

WASHINGTON—Some high-income business owners could face marginal tax rates exceeding 100% under the Senate’s tax bill, far beyond the listed rates in the Republican plan.

That means a business owner’s next $100 in earnings, under certain circumstances, would require paying more than $100 in additional federal and state taxes.

As lawmakers rush to write the final tax bill over the next week, they already are looking at changes to prevent this from happening. Broadly, House and Senate Republicans are trying to reconcile their bills, looking for ways to pay for eliminating the most contentious proposals. The formal House-Senate conference committee will meet on Wednesday, and GOP lawmakers may unveil an agreement by week’s end.

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The possible marginal tax rate of more than 100% results from the combination of tax policies designed to provide benefits to businesses and families but then deny them to the richest people. As income climbs and those breaks phase out, each dollar of income faces regular tax rates and a hidden marginal rate on top of that, in the form of vanishing tax breaks. That structure, if maintained in a final law, would create some of the disincentives to working and to earning business profit that Republicans have long complained about, while opening lucrative avenues for tax avoidance.

As a taxpayer’s income gets much higher and moves out of those phaseout ranges, the marginal tax rates would go down.

Consider, for example, a married, self-employed New Jersey lawyer with three children and earnings of about $615,000. Getting $100 more in business income would force the lawyer to pay $105.45 in federal and state taxes, according to calculations by the conservative-leaning Tax Foundation. That is more than double the marginal tax rate that household faces today.

If the New Jersey lawyer’s stay-at-home spouse wanted a job, the first $100 of the spouse’s wages would require $107.79 in taxes. And the tax rates for similarly situated residents of California and New York City would be even higher, the Tax Foundation found. Analyses by the Tax Policy Center, which is run by a former Obama administration official, find similar results, with federal marginal rates as high as 85%, and those don’t include items such as state taxes, self-employment taxes or the phase-out of child tax credits.

The bill as written would provide incentives for business owners to shift profit across calendar years, move personal expenses inside the business and engage in other economically unproductive maneuvers, said David Gamage, a tax-law professor at Indiana University.

“I would expect a huge tax-gaming response once people fully understand how it works,” said Mr. Gamage, a former Treasury Department official, who said business owners have an easier time engaging in such tax avoidance than salaried employees do. “The payoff for gaming is huge, within the set of people who both face these rates and have flexible enough business structures.”

The analyses “raise a valid concern” that lawmakers are examining, said Julia Lawless, a spokeswoman for the Senate Finance Committee.

“With any major reform, there will always be unusual hypotheticals delivering anomalous results,” she said. “The goal of Congress’s tax overhaul has been to lower taxes on the American people and by and large, according to a variety of analyses, we’re achieving that.”

Marginal tax rates are different from average tax rates. A marginal rate is the tax on the edge, or margin, of one’s earnings, and so it reflects what would be the next dollar of income. The average rate is a way of measuring a taxpayer’s total burden.

The Republican bills are trying to reduce both marginal and average tax rates, and for many taxpayers, they do. The marginal tax rates above 100% affect a small slice of households with very particular circumstances. Similar, though smaller, effects occur throughout the tax system.

“This is a big concern,” said Scott Greenberg, a Tax Foundation analyst. “It would be unfortunate if Congress passed a tax bill that had the effect of making additional work and additional income not worthwhile for any subgroup of households.”

Here’s how that New Jersey lawyer’s marginal rate adds up to more than 100%:

The household is paying the 35% marginal tax rate on their income range. Or, they are paying the alternative minimum tax, which operates at the same marginal rate in that income range.

The household is paying New Jersey’s highest income-tax rate, which is 8.97%, and now has to pay all of that because the Republican tax plan wouldn’t let such state or local taxes be deducted from federal income.

The household is also losing a deduction the Senate created for so-called pass-through businesses such as partnerships and S corporations. That 23% deduction is fully available to owners of service businesses like law firms, but only if income is below $500,000 for a married couple.

The deduction then phases out over $100,000 in income, according to a complex formula, disappearing entirely once income reaches $624,000. Up to that point, each additional dollar of business income faces progressively steeper tax rates because the deduction and its benefit are shrinking rapidly as income goes up.

The provisions also interact with each other in ways that drive up marginal rates. “The central problem here is that there is a large benefit phasing out over a short range,” Mr. Greenberg said.

The Republican bill doubles the child tax credit to $2,000 but phases it out beginning at $500,000 income for joint filers. The credit shrinks by $50 for every $1,000 in income above that, so a married couple with three children faces a higher marginal tax rate when they’re in that phase-out range.

The analysis assumes that the New Jersey lawyer is paying a 3.8% tax on self-employment income.

Pushing marginal rates lower on these households wouldn’t be easy and would require tradeoffs. Republicans could make the phaseout of the business deduction more gentle, spreading it over, say, $200,000, as opposed to $100,000, of income above $500,000. But that would make the tax cuts bigger, and Republicans are already looking for money to offset other changes they are planning.

They could lower the threshold for the child tax credit, but that would reduce tax cuts for households below $500,000.

Under current law, there are some high marginal tax rates for some lower-income households. Some families just above the poverty line can see their earned income tax credits and food stamps going down as their federal and state taxes go up. That combination can create marginal tax rates of around 75%, according to the Congressional Budget Office.

Appeared in the December 11, 2017, print edition as ‘Taxman Cometh: Marginal Rates Could Top 100% for Some.’

https://www.wsj.com/articles/the-taxman-cometh-senate-bills-marginal-rates-could-top-100-for-some-1512942118

Tax Reform Under History’s Light


Senior Vice President, Economic Policy Division, and Chief Economist

Former Democratic Senator John Breaux

Former Democratic Senator John Breaux.

[This is part of an ongoing series entitled “The Case for Tax Reform,” which examines the importance of reforming the outdated tax code, and how achieving that goal will advance economic growth, jobs, and prosperity.]

Tax reform’s chances are better in this Congress than at any time in the past 30 years. Thus, comparisons come naturally to the events leading up to the 1986 Tax Reform Act (TRA86). These comparisons are useful for the similarities and the differences, both of which provide insights as to how to assure success today.

One important similarity is TRA86 brought to conclusion a long and detailed debate about tax policy. Our current efforts also rest on a lengthy debate recently brought to the fore. An important difference, however, is TRA86 was enacted as a widely accepted “should do,” whereas tax reform in 2017 is much more of a “must do.”

‘86 tax reform in 30 seconds

TRA86 culminated as a complex debate starting about 10 years prior with the release of Treasury’s “Blueprints for Basic Tax Reform” in the waning hours of the Ford administration. Treasury’s “Blueprints” laid out a coherent approach to tax policy, emphasizing simplification and a reduction in tax distortions that were sapping economic growth.

Two years later, in response to a poorly performing economy, Congress adopted the Steiger Amendment, significantly cutting the capital gains tax rate as part of the 1978 Revenue Act. While often ignored, the Steiger Amendment marked the bi-partisan recognition of tax policy’s importance for economic growth. Pro-growth tax reform was not just for tax geeks anymore.

Federal tax policy debate took on new energy in 1981 with the passage of the landmark Reagan tax cuts, dominated by substantial rate reduction. Following legislation in 1982 and 1984 to readjust tax levels, the stage was set for fundamental tax reform.

A bipartisan consensus regarding sound tax policy evolved through the years leading up to TRA86. This consensus distilled down to the simple mantra of “lower the rates, broaden the base.”  Like the 1981 legislation, TRA86 would reduce tax rates substantially and install a less punitive system of capital consumption allowances. Unlike the 1981 legislation, however, the focus would also be on simplification, on the wide range of areas of the tax code reformed, and especially on revenue neutrality.

This consensus first took concrete form in two highly-detailed proposals out the Reagan Treasury Department, commonly dubbed Treasury I and its improved version, Treasury II, and released in 1984 and 1985 respectively. With these reports laying the groundwork, Congress then took over a year to legislate, finally producing TRA86.

The years between

TRA86 was the product of an extended period of consensus building and analysis. For those new to the debate, today’s strong momentum for comprehensive, pro-growth tax reform may seem to have arisen out of thin air, but, in fact, this debate has ebbed and flowed almost without pause since 1986.

The appetite for tax reform did not die following TRA86, and so consideration naturally moved on to the “next big thing.” For a period, the big thing seemed to be some kind of European-style Value Added Tax (VAT). The VAT momentum quickly petered out, however, and soon revenue pressures shifted the focus of tax policy once again to raising income tax rates, often with distinct “soak-the-rich” overtones. The VAT episode set tax reform’s pattern of ebb and flow for the following years.

Even as the debate toward TRA86 was underway, a very different approach to tax policy appeared in the Hall-Rabushka Flat Tax. Though the Flat Tax is best known for having a single rate of tax, hence the name, what really distinguishes the Flat Tax is its simplification, the elimination of all taxes on capital income and capital gains, and the adoption of a cash-flow tax on businesses centered on allowing capital purchases to be “expensed,” or deducted immediately.

In the 1990s, as the Flat Tax gained greater acceptance, tax reform topped the national agenda with Steve Forbes leading the charge. But this effort soon deflated along with Forbes’ 1996 presidential campaign.

Tax reform again gained traction briefly after the 2004 election with the release of the superb report of the presidential commission led by former Democratic Senator John Breaux and former Republican Senator Connie Mack. However, this effort, too, led to naught, a victim of competing priorities and a lack of consensus.

Income tax reform was pushed far onto the back burners during President Barack Obama’s tenure. Despite a historically weak economic recovery, the Obama administration expressed little interest in proposals to reduce the tax code’s drag on growth. The Obama administration contented itself with modest tweaks at the edges and otherwise dedicated its efforts to defending the status quo, especially in the area of international tax where global pressures were felt most profoundly.

Tax reform today

Even as years of inaction passed, pressure to reform the federal income tax code rose steadily from all sides. In part, this pressure arose because the U.S. economy was changing rapidly, and the tax code became an ever-worse fit for a modern economy.

In part, the pressure arose because even as America stood pat, America’s major trading partners did not. They were cutting business tax rates steadily and almost all were moving toward a territorial tax system to allow their businesses to compete more effectively in a global business climate of increasing intensity.

Though on the back burner, tax reform continued to simmer in backchannels. Then-House Budget Committee Chairman Paul Ryan (R-WI) advanced a series of thoughtful tax reform proposals as part of his broader efforts to reform Federal tax policy. Rep. Devin Nunes (R-CA) offered his variation on tax reform, differing from but along the same broad lines as the Ryan proposal. Sen. Marco Rubio (R-FL) also introduced a major, comprehensive tax reform proposal with his own interpretations, and then released subsequent iterations as comments and critiques soon followed. In these years, though President Obama continued to block tax reform’s path, the debate remained alive and well.

In 2014, former Ways and Means Committee Chairman David Camp (R-MI) introduced a detailed tax reform proposal. As tax reform would originate in this committee, Camp’s proposal took on greater significance than most. The Camp proposal was intended to serve as a prototype for tax legislation and so offered much more detail and, in some cases, specific options for resolving some of the nagging technical issues in adopting a territorial tax system, for example. However, in the face of President Obama’s determined disinterest, few were willing to contemplate seriously the hard choices the Camp plan laid out and so, again, tax reform was left to simmer on the back burner.

Tax reform played a limited role in the 2016 presidential campaign, with the Democratic nominee, Hillary Clinton, largely continuing the defense of the status quo established by President Obama. Meanwhile, the Republican nominee, Donald Trump, suggested a bold change of direction; though, he accompanied it by very few details. Trump’s election, combined with the strong Republican interest in tax reform, quickly moved the issue to the front burner.

The focus on growth

Tax reform today, like its 1986 predecessor, has a long history of debate, evolution, and refinement. TRA86 and the current effort also share an intense focus on improving economic growth, but with one important difference: TRA86 largely responded to a sense borne of the previous, deep recession that the economy needed to be both stronger and more resilient, and that sound tax policy could help. Tax reform was seen as something Congress and the president could and should accomplish.

Tax reform today shares a similar motivation, but with far greater urgency. Just as no business can compete for long if its cost structure substantially exceeds those of its competitors, American businesses cannot continue to compete effectively at home or abroad facing high tax rates, an inadequate capital cost recovery system, and an international tax system long abandoned by competing companies.

American companies are managing to compete successfully today but with ever greater difficulty under the federal tax system. Failure to reform the tax system would not result overnight in significant decline in Americans’ long-run economic prospects. But it would most assuredly do so over the next few years as both financial and human capital is driven overseas.

Tax reform is one task Congress and the president simply have to get right if America is to prosper.

https://www.uschamber.com/above-the-fold/tax-reform-under-history-s-light

What History Teaches Us About Tax Reform


Senior Vice President, Economic Policy Division, and Chief Economist
023275_taxreform_atf_08_22_reagan_getty471341025.jpg

[This is part of an ongoing series entitled “The Case for Tax Reform,” which examines the importance of reforming the outdated tax code, and how achieving that goal will advance economic growth, jobs, and prosperity.]

An underperforming economy and mounting international competition have propelled tax reform from topic of discussion to front-burner issue. There is no change in federal policy that offers greater potential to strengthen employment and increase wages for American workers than sound, comprehensive tax reform.

Reviewing and respecting the lessons from the last major tax reform over thirty years ago illuminates the road ahead, and provides lessons for how to raise our odds of success. Time provides a dimension worth exploring for similarities and contrasts between 1986 and today. Specifically, the time leading up to the effort, and the time needed for Congress to act.

The Historical On Ramp to Tax Reform

President John F. Kennedy understood the dampening economic effects of high tax rates. Though he died before seeing his program enacted, his successor, President Lyndon B. Johnson pushed the program through Congress and thus the 1964 tax bill is commonly referred to as the “Kennedy tax cuts.” The 1964 bill centered on significant tax rate reductions to achieve a substantially stronger economy.

Thereafter, budget pressures from the Vietnam War and Great Society programs reoriented tax policy once again toward ever-higher tax rates accompanied by a steady accretion of deductions and credits to blunt the effects of higher rates on politically favored constituencies. This process continued unabated into President Jimmy Carter’s administration and not surprisingly coinciding with a languishing economy.

Even as tax rates climbed and new distortions filled the tax code, a countermovement arose. In the final moments of the Ford Administration, Secretary William E. Simon released a landmark Treasury report directed by one of the era’s great economists, David Bradford, called “Blueprints for Basic Tax Reform,” guiding concepts of sound tax policy for years to come.

As the economy struggled and President Carter stood by, Congress took the initiative. With strong, bipartisan support over Carter’s objections, Congress substantially cut the capital gains tax rate as part of the 1978 Revenue Act, marking the first step in a change in tax philosophy culminating in the 1986 Tax Reform Act (TRA86).

Senator Bill Roth (R-DE) and Congressman Jack Kemp (R-NY) then picked up tax reform’s guidon, leading the charge for lower tax rates. At the same time, a second dimension in tax policy gained steam – the need for a less punitive capital cost recovery system. This debate was led largely outside Congress by the likes of Charls Walker and Ernie Christian, former Ford Administration Treasury hands, and Norman B. Ture, later Treasury undersecretary under Ronald Reagan.

Spurred by a recession wrought by a disinflationary monetary policy, the tax debate quickly came to a head in the 1981 “Reagan tax cuts.” The 1981 bill cut tax rates and instituted a vastly superior capital cost recovery system among other reforms. In the process, the bill cut revenues far more than Reagan proposed.

Though the 1981 bill was championed by a Republican president, it enjoyed widespread Democratic support. Rep. Dan Rostenkowski (D-IL), Chairman of the House Committee on Ways and Means introduced and pushed the legislation to passage, joined by almost half the House Democrats and almost a third of Senate Democrats.

The magnitude of the 1981 tax cuts proved politically unsustainable and were quickly followed by a series of tax hikes reversing some of the 1981 revenue reductions. Having settled the issue of how much to tax, the stage was now set for the 1986 reform and deciding who and how to tax.

Building Toward the 1986 Tax Reform Act

At about this time a fundamentally different approach to tax policy appeared: the Hall-Rabushka Flat Tax. The Flat Tax’s popularity often associates with the simplicity of imposing a single tax rate. However, the real revolution it offered was not the single tax rate,but  what is subject to tax. Despite appearing as a traditional income tax, the Flat Tax was something quite new as it explicitly eliminated tax on investment income and imposed a simple cash flow tax on all businesses, thus adopting the principle of expensing, or allowing a full and immediate deduction for capital purchases.

The Flat Tax was too radical to gain wide acceptance in the early 1980s, but a vigorous bipartisan debate harkening back to Bradford’s 1976 “Blueprints” continued nonetheless. The 1981 tax cuts worked as intended to launch a powerful economic recovery, but memories of poor economic performance under Carter still lingered. A broad, bipartisan consensus championed faster economic growth by reforming the tax code to reduce the distortions to economic decision making it caused and the resulting misallocation of basic resources.

The basic strategy was to lower rates as in the 1981 Act, only further, and to implement a sound cost recovery system as in the 1981 Act. In contrast to 1981, however, the new strategy included a determined effort to “broaden the tax base” by eliminating distorting loopholes and tax credits, thereby intending the overall bill to be revenue neutral. .

The Treasury Department under Secretary Don Regan took the first big step in 1984 with the release of a densely packed 275 page proposal for comprehensive tax reform, dubbed “Treasury I”. While many aspects were well-received, as with most prototypes, Treasury I contained flaws, some of which Treasury addressed in 1985 with “Treasury II”.

Tax reform was off and running in Congress with the release of Treasury II, but the road  was by no means easy. Time and again Reagan had to give Congress another not-always-gentle push. The greatest peril demanding Reagan’s firm hand came when Senate Finance Committee Chairman Bob Packwood (R-OR) realized he couldn’t pass tax reform on the path it was on. Ironically, the man who had repeatedly saved tax reform, President Reagan, was also now tax reform’s biggest obstacle.

The Price for Overcoming the Greatest Hurdle

Reagan was forced into pushing for the most rate reduction possible. Initially he drew the line at 25 percent for individuals and he held firm for much of the debate. Like most policy, tax reform involves trade-offs and Packwood just couldn’t find enough obvious base broadeners he could economically or politically trade off to hit a 25 percent rate.

Something had to give. At first the rate crept up to 26 and then to 28 percent. But at 28 percent, Reagan would go no further.

As Reagan urged Packwood to press on, Packwood had to get creative. He took fairly innocuous existing individual and corporate minimum taxes and expanded them into full-fledged parallel tax systems; voila, massive back-door base broadening. Packwood’s new Alternative Minimum Tax (AMT), while a superb example of terrible tax policy, had as its one redeeming feature: it raised enough money in a sufficiently confusing manner to hit the 28 percent rate without creating too many political problems, at least not for the duration of the debate. Three months later, the final bill passed the Senate.

Packwood’s AMT offers an important lesson for tax reform today. As important as low tax rates are for economic growth, policy makers and the public need to be honest about the tradeoffs involved. The broadest possible tax base capable of garnering sufficient political support can only raise so much revenue at a targeted tax rate. Demand an even lower tax rate and something (or someone) else will have to give and very likely pro-growth tax policy will suffer as a consequence.

Back to the Present

With respect to time, the current tax reform debate parallels that of 1986 closely. TRA86 concluded a lengthy, evolutionary process regarding accepted beliefs about sound, pro-growth tax policy. That process distilled to the lowest possible rates and applied to a simple, broad tax base, while allowing for a depreciation system for capital costs minimizing the anti-investment aspects of an income tax.

Tax reform today shares these traits, both with respect to the substance of reform – low rates, broad base, and today, expensing – and with respect to time. Like the 1986 episode, tax reform today reflects the product of many years of debate regarding the design of pro-growth tax policy, an evolution that began in 1986.

In one other critical respect regarding time, TRA86 and the current effort offer stark contrasts. Where the legislative starting gun on TRA86 went off in 1984 and the effort then proceeded for over two years, Congress in 2017 will have only a handful of months from introduction to tax reform’s final passage. This difference in time will have significant implications for how Congress defines “comprehensive” as they work toward pro-growth tax reform.

Read Part 2: Tax Reform Under History’s Light

https://www.uschamber.com/above-the-fold/what-history-teaches-us-about-tax-reform

 

Story 3: Defeating The Islamic State in Iraq and Syria By Bombing Them To Death — ISIS Free? — Videos

ISIS defeated in Iraq, officials say

Eric Shawn reports: ISIS defeated, but will it last?

Iraq celebrates ISIS defeat, US claims fight isn’t over

 

Total victory over ISIS in Syria

ISIS Breaking news: No Islamic State has been defeated- BBC news Nov 2017

Iraqi military take part in spectacular parade celebrating victory over ISIS

Report: ISIS militants moving to remote deserts

Ralph Peters on the fight against ISIS and Iran’s influence

Trump WH announces shift in strategy to defeat ISIS

ISIS Surrounded: Trump’s Plan to ‘Annihilate’ the Islamic Caliphate

This Iran-backed militia helped save Iraq from ISIS. Now Washington wants them to disband

Iraqi Christian on life after ISIS destroyed his church

Trump WH announces shift in strategy to defeat ISIS

Peters: Fall of ISIS in Iraq is imminent, but what’s next?

Tillerson: ISIS will be defeated

Trump, Mattis turn military loose on ISIS, leaving terror caliphate in tatters

Hundreds of ISIS fighters had just been chased out of a northern Syrian city and were fleeing through the desert in long convoys, presenting an easy target to U.S. A-10 “warthogs.”

But the orders to bomb the black-clad jihadists never came, and the terrorists melted into their caliphate — living to fight another day. The events came in August 2016, even as then-Republican presidential nominee Donald Trump was vowing on the campaign trail to let generals in his administration crush the organization that, under President Obama, had grown from the “jayvee team” to the world’s most feared terrorist organization.

OIR_CROFT

U.S. Air Force Brig. Gen. Andrew Croft said the Trump administration has put a strong leadership team in place  (U.S. Army photo by Sgt. Tracy McKithern)

“I will…quickly and decisively bomb the hell out of ISIS,” Trump, who would name legendary Marine Corps Gen. James Mattis as secretary of defense, promised. “We will not have to listen to the politicians who are losing the war on terrorism.”

ISIS CURSED, MOCKED IN MOSUL, WHERE OLD CITY REMAINS A HAUNTED WASTELAND

Just over a year later, ISIS has been routed from Iraq and Syria with an ease and speed that’s surprised even the men and women who carried out the mission. Experts say it’s a prime example of a campaign promise kept. President Trump scrapped his predecessor’s rules of engagement, which critics say hamstrung the military, and let battlefield decisions be made by the generals in the theater, and not bureaucrats in Washington.

“I felt quite liberated because we had a clear mandate and there was no questioning that.”

– U.S. Marine Col. Seth Folsom

At its peak, ISIS held land in Iraq and Syria that equaled the size of West Virginia, ruled over as many as 8 million people, controlled oilfields and refineries, agriculture, smuggling routes and vast arsenals. It ran a brutal, oppressive government, even printing its own currency.

OIR_FOLSOM

Lt. Col. Seth Folsom credits the cooperation between Iraqi Security Forces and the U.S-led coalition for the military defeat of ISIS in Iraq.  (Courtesy U.S Army)

The terror organization now controls just 3 percent of Iraq and less than 5 percent of Syria. Its self-styled “caliph,” Abu Bakr al-Baghdadi, is believed to be injured and holed up somewhere along the lawless border of Syria and Iraq.

ISIS remains a danger, as members who once ruled cities and villages like a quasi-government now live secretly among civilian populations in the region, in Europe and possibly in the U.S. These cells will likely present a terrorist threat for years. In addition, the terrorist organization is attempting to regroup in places such as the Philippines, Libya and the Sinai Peninsula.

But the military’s job — to take back the land ISIS claimed as its caliphate and liberate cities like Mosul, in Iraq, and Raqqa, in Syria, as well as countless smaller cities and villages, is largely done. And it has taken less than a year.

Defense Secretary Jim Mattis waits to greet Polish Defense Minister Antoni Macierewicz, upon his arrival at the Pentagon, Thursday, Sept. 21, 2017, in Washington. (AP Photo/Alex Brandon)

Mattis, a US Marine Corps general, said there would be no White House micromanaging on his watch  (Associated Press)

“The leadership team that is in place right now has certainly enabled us to succeed,” Brig. Gen. Andrew Croft, the ranking U.S. Air Force officer in Iraq, told Fox News. “I couldn’t ask for a better leadership team to work for, to enable the military to do what it does best.”

President Trump gave a free hand to Mattis, who in May stressed military commanders were no longer being slowed by Washington “decision cycles,” or by the White House micromanaging that existed President Obama. As a result of the new approach, the fall of ISIS in Iraq came even more swiftly than hardened U.S. military leaders expected.

“It moved more quickly than at least I had anticipated,” Croft said. “We and the Iraqi Security Forces were able to hunt down and target ISIS leadership, target their command and control.”

OIR_SOFGE1

U.S. Marine Corps Brig. Gen. Robert Sofge said the military now has a clear mandate  (U.S. Army photo by Spc. Cole Erickson)

IRAQI KURDS STILL LOVE US DESPITE ITS OPPOSITION TO KURDISH INDEPENDENCE, SAYS KURDISH LEADER

After the battle to liberate Mosul – ISIS’ Iraqi headquarters – was completed in July — the U.S.-led coalition retook Tel Afar in August, Hawija in early October and Rawa in Anbar province in November.

Marine Col. Seth Folsom, who oversaw fighting in Al Qaim near the Syrian border, agreed. He wasn’t expecting his part of the campaign against ISIS to get going until next spring and figured even then, it would then “take six months or more.”

Instead, ISIS was routed in Al Qaim in just a few days.

mosul

Mosul, and several other cities liberated by ISIS, were largely destroyed in the fighting.  (Fox News/Hollie McKay)

“We really had one mandate and that was enable the Iraqi Security Forces to defeat ISIS militarily here in Anbar. I feel that we have achieved that mission,” Folsom said. “I never felt constrained. In a lot of ways, I felt quite liberated because we had a clear mandate and there was no questioning that.”

Brig. Gen. Robert “G-Man” Sofge, the top U.S. Marine in Iraq, told Fox News his commanders have “enjoyed not having to deal with too many distractions and there was no question about what the mission here in Iraq was.”

OIR_

Iraqi Brig. Gen. Yahya Rasool was skeptical of Trump at first, but says success on the ground has been swift  (Fox News/Hollie McKay )

“We were able to focus on what our job was without distraction and I think that goes a long way in what we are trying to accomplish here,” he said.

Sofge said criticism that loosening rules of engagement put civilians at risk is “absolutely not true.”

OIR_dillon

Col. Ryan Dillon. Combined Joint Task Force – Inherent Resolve Spokesman  (Photo by CJTFOIR)

“We used precision strikes, and completely in accordance with international standards,” he said. “We didn’t lower that standard, not one little bit. But we were able to exercise that precision capability without distraction and I think the results speak for themselves.”

The U.S.-led coalition said this week the Coalition Civilian Casualty Assessment Team has added 30 new staffers to travel throughout the region. It said military leaders continue to “hold themselves accountable for actions that may have caused unintentional injury or death to civilians.”

The coalition also said dozens of reports of civilian casualties have been determined to be “non-credible,” and just .35 percent of the almost 57,000 separate engagement carried out between August 2014 and October 2017 resulted in a credible report of a civilian casualty.

In addition to air support, the U.S.-led strategy also includes training and equipping Iraqi troops on the ground.

While the Trump administration’s success is often underplayed in the U.S. media, it is obvious on the ground in Iraq, according to a spokesman for Iraq’s Ministry of Defense, Yahya Rasool.

“I was not optimistic when Trump first came to the office,” Rasool said. “But after a while I started to see a new approach, the way the U.S. was dealing with arming and training. I saw how the coalition forces were all moving faster to help the Iraq side more than before. There seemed to be a lot of support, under Obama we did not get this.”

FILE - This file image made from video posted on a militant website July 5, 2014, purports to show the leader of the Islamic State group, Abu Bakr al-Baghdadi, delivering a sermon at a mosque in Iraq during his first public appearance. Islamic State group leader Abu Bakr al-Baghdadi appears to be still alive, a top U.S. military commander said Thursday, Aug. 31, 2017, contradicting Russia’s claims that it probably killed the top counterterror target months ago.(Militant video via AP, File)

Al-Baghdadi, who once ruled a caliphate the size of California, is now inn hiding and likely badly injured

Despite the victories on the battlefield, U.S. officials cautioned much work remains to be done.

“ISIS is very adaptive,” noted Col. Ryan Dillon, the U.S.-led coalition spokesman. “We are already seeing smaller cells and pockets that take more of an insurgent guerrilla type approach as opposed to an Islamic army or conventional type force. So we have got to be prepared for that.”

He said as a result the coalition is “adjusting some training efforts” so the Iraqi forces — upwards of 150,000 have already undergone training — are equipped to address such threats and ensure long-term stability.

Folsom said “the worst thing we could do” is not finish the job.

“If a country becomes a failed state, if it becomes a lawless region, you begin to set the conditions for what happened in the years before 9/11,” he said. “In those ungoverned spaces where we don’t know what is going on, that is where those seeds of extremism begin to blossom.”

 

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The Pronk Pops Show 997, November 7, 2017, Story 1: Communist Chinese Connection To Trade — Nuclear Proliferation — and — Terrorism (TNT) — Peace or War — China Must Destroy North Korea Nuclear Weapons and Missiles or Face The Consequences of Overthrow of Communist Party — U.S.Complete Embargo on All Chinese Trade and Investment — Story 2: President Trump Meets With Japanese Prime Minster Shinzo Abe and President Moon Jai-in As U.S. Navy Flexes Air Power — All Options Are On The Table — Video — Story 3: Saudi Arab On The Brink of War With Lebanon Controlled By Iran-backed Lebanese Shi‘ite group Hezbollah — Saudi Arab Blames Iran For Yemen Missile Attack — Purge and Roundup of Royal Prince Continues — Videos —

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Pronk Pops Show 949, August 22, 2017

Pronk Pops Show 948, August 21, 2017

Pronk Pops Show 947, August 16, 2017

Pronk Pops Show 946, August 15, 2017

Pronk Pops Show 945, August 14, 2017

Pronk Pops Show 944, August 10, 2017

Pronk Pops Show 943, August 9, 2017

Pronk Pops Show 942, August 8, 2017

Pronk Pops Show 941, August 7, 2017

Pronk Pops Show 940, August 3, 2017

Pronk Pops Show 939, August 2, 2017

Pronk Pops Show 938, August 1, 2017

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Saudi Arabia arrests princes, ministers for corruption

Story 1: Communist Chinese Connection To Trade Nuclear Proliferation and Terrorism (TNT) — Peace or War — Destroy North Korea Nuclear Weapons and Missiles or Face The Consequences of Overthrow of Communist Party — Total Complete Embargo on All Chinese Trade and Investment —

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Image result for Nations with nuclear weaspon

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Image result for u.s. trade deficits with countries china 1900=2016

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Donald Trump arrives in Beijing President to tell China ‘get tough on North Korea threat’

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Trump in Beijing and US-China trade

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[youtyube=https://www.youtube.com/watch?v=BTSTddC4O2c]

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‘THE BOMB” NEW PBS Documentary about the history of nuclear weapons!!

Published on Jul 23, 2017
The Bomb is a 2015 American documentary film about the history of nuclear weapons, from theoretical scientific considerations at the very beginning, to their first use on August 6, 1945,to their global political implications in the present-day.The two-hour PBS film was written and directed by Rushmore DeNooyer, who noted the project took a year and a half to complete, since much of the film footage and images was only recently declassified by the United States Department of Defense. According to DeNooyer, “It wouldn’t take very many bombs to really change life on Earth, … The idea that there are thousands of them sitting around is pretty scary. I don’t think people today realize that. They don’t think about it. I don’t think they are scared. But in a way, they should be. Mark Dawidziak, of the Cleveland Plain Dealer, summarized the film as follows: “The Bomb moves swiftly to cover Hiroshima and Nagasaki, the Cold War, the arms race, the Red Scare, the witch hunt, the Cuban Missile Crisis, test-ban treaties, the “Star Wars” initiative, the anti-nuke movement, the collapse of the Soviet Union and the rise of new nuclear threats. According to historian Richard Rhodes, “The invention [of ‘The Bomb’] was a millennial change in human history: for the first time, we were now capable of our own destruction, as a species…

How Does China’s Government Work?

TED – China’s Political System

Eric X. Li: A tale of two political systems

It’s a standard assumption in the West: As a society progresses, it eventually becomes a capitalist, multi-party democracy. Right? Eric X. Li, a Chinese investor and political scientist, begs to differ. In this provocative, boundary-pushing talk, he asks his audience to consider that there’s more than one way to run a succesful modern nation. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design — plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at

Xi Jinping: Why are we called Communist Party of China?

China congress: Xi Jinping declares ‘new era’ for China – BBC News

China’s Communist party enshrines Xi Jinping ideology in constitution

Published on Oct 24, 2017
China’s ruling Communist Party has voted to enshrine Xi Jinping’s name and ideology in its constitution, elevating him to the level of founder Mao Zedong. The unanimous vote to incorporate “Xi Jinping Thought” happened at the end of the Communist Party congress, China’s most important political meeting. Mr Xi has steadily increased his grip on power since becoming leader in 2012. This move means that any challenge to Mr Xi will now be seen as a threat to Communist Party rule. More than 2,000 delegates gathered in Beijing’s Great Hall of the People for the final approval process to enshrine “Xi Jinping Thought on Socialism with Chinese Characteristics for the New Era” into the Communist Party constitution of China. At the end of the process, delegates were asked if they had any objections, to which they responded with loud cries of “none”, reported journalists at the scene.

How Xi Jinping Went From Feeding Pigs to Ruling China

China Just Sent a Chilling Warning to North Korea About The United States

 

North Korea Is SCREWED After China Issues Brutal Threat Of What Will Happen If They Hit U.S.

 

Published on Aug 15, 2017
China Just Sent a Chilling Warning to North Korea About The United States
The threat of a North Korean nuclear attack is Trump’s biggest test of leadership yet – but another country might actually end up calling the shots. And Trump, to be fair, has been warning us about China for years. But I’m willing to bet that even he didn’t see this coming.
Fact is, aside from being deadly, brutal, and destructive, war is also expensive. And if you can’t afford to do it, you probably shouldn’t start it.
Or join it, for that matter. It’s why China has unofficially leaked a government policy for the world to see – that if North Korea attacks the US, China will remain neutral.
But if the US attacks first, China will join the war. Which means, put bluntly, that the only way World War III doesn’t start is for North Korea to hit us first. Which is unacceptable. About as unacceptable as World War III.China really put Trump in a bind.
Breitbart reports:
The Communist Party organization Global Times [published] an editorial declaring that China would remain neutral if North Korea starts a war but intervene on North Korea’s behalf if the U.S. and South Korea attempt a preemptive strike.
The Chinese government may eventually seek some diplomatic wiggle room by insisting the Global Times is but a newspaper printing an editorial, and the piece is written in the style of newspaper editors lecturing officials about what they “should” do, but China’s state-run media is a mouthpiece for its authoritarian government.If it sounds complicated, it’s really not. The Chinese government is run by the Chinese Communist Party. The Chinese Communist Party owns and runs the Global Times. Therefore, whatever the Global Times prints is what the Communist Party wants it to print.
But it’s still a newspaper, of course, which means that, if the world – or, sometimes, the Chinese themselves – really don’t like a policy, the government can pretend that the newspaper just got the story wrong.
It’s an easy way to test a policy before you pass it. Or, in this case, an easy way to tell the world what you’re going to do, without all the trouble of officially telling the world what you’re going to do.
Fact is, China can’t really afford this war – Breitbart lists off several reasons, including tensions with India, Japan, and all the work securing the South China Sea. The Korea thing is just one more brick on an already heavy pile. But their way out of it forces Donald Trump to let the US get hit first.

‘Welcome to China! I love you!’: Beijing schoolchildren thrill Trump with Peking opera performance after private tour of the Forbidden City and tea with China’s Xi and Madame Peng

  • Trump landed Wednesday in China for meetings with President Xi Jinping
  • School children waving American flags greeted him at the airport in Beijing
  • President and first lady took in an extra special performance of Peking opera during a grand tour of the Forbidden City put on for him by Xi
  •  President has touted his close relationship with Xi, calling it ‘outstanding’
  • But he says that won’t stop him from getting tough with China over trade 
  • North Korea is expected to dominate the agenda as it did when pair met in April 
  • Last year when he visited China, Obama was prevented from using his stairs to deplane Air Force One in a major snub
  • Trump didn’t have that problem: Chinese authorities had a rolling staircase tall enough to reach the front door of the plane

President Donald Trump took in an extra special performance of Peking opera on Wednesday evening in Beijing during a grand tour of the Forbidden City put on for him by China‘s Xi Jinping.

Xi had the production staged in the former imperial palace that is now a museum just for Trump’s visit.

‘Welcome to China! I love you!’ a group of children who were part of the performance told the U.S. president when it was finished.

The president and first lady Melania Trump ended their evening with a dinner in another section of the Forbidden City with the Chinese leader and his wife, Madame Peng Liyuan.

'Welcome to China! I love you!' a group of children who were part of a Peking opera performance told the U.S. president this evening in Beijing

Trump took in an extra special performance of Peking opera on Wednesday during a grand tour of the Forbidden City put on by Chinese President Xi Jinping. President Trump and First Lady Melania Trump are seen here in the Forbidden City with Xi and his wife Madame Peng Liyuan

The Trumps are at a private dinner now with Xi and his wife, Madame Peng Liyuan

SPECIAL MOMENT: The president and first lady share a fond moment after their arrival in the Forbidden City

President Trump tours the Conservation Scientific Laboratory of the Forbidden City with his wife, Xi and Peng

Trump viewed a clock on a "musical clock with country scene," a "gourd-shaped clock with rotating flowers," and a "clock with lifting tower," according to a placard bearing an English and Chinese-language descriptions of the items

Trump viewed a clock on a “musical clock with country scene,” a “gourd-shaped clock with rotating flowers,” and a “clock with lifting tower,” according to a placard bearing an English and Chinese-language descriptions of the items

After the tour, the presidents and the first ladies of the US and China watched a special performance of Peking opera that was staged for Trump's visit

After the tour, the presidents and the first ladies of the US and China watched a special performance of Peking opera that was staged for Trump’s visit

A military honor guard and flag-waving schoolchildren greeted Trump when he arrived Wednesday afternoon in China, the third country in his 12-day Asia tour.

U.S. ambassador to China Terry Branstad met Trump and his secretary of state, Rex Tillerson, after Air Force One stopped on the tarmac in Beijing.

Trump deplaned from Air Force One without incident, avoiding the embarrassment Barack Obama suffered a year ago as he landed in China during the annual Group of 20 summit.

Obama was humiliated when he had to exit from the belly of the aircraft because authorities didn’t approve a staircase tall enough for him to walk out of the front exit of the plane.

Chinese officials rolled a large set of stairs to the aircraft’s door on Wednesday. 

WARM REUNION: Trump and Xi greeted each other like old friends on Wednesday in the Forbidden City

Trump was especially interested in a clock with lifting tour during his tour of an artifacts restoration center in the Forbidden City.  'Unbelievable,' he said

Trump and Xi watch the Peking opera from the Hall of Character Cultivation in the Forbidden City

Trump and Xi watch the Peking opera from the Hall of Character Cultivation in the Forbidden City

The U.S. president was delighted as children in yellow and red costumes danced on stage with peacock feathers

As Trump left the performance, the told inquiring reporters, 'We’re having a great time, thank you'

Trump hopped in his motorcade and sped through Beijing to the Forbidden City, where he had tea with his Chinese counterpart, whom he had entertained at his Florida Mar-a-Lago club in April, and the first lady of sprawling Asian country that is home to 1.4 billion people.

After a warm reunion over tea, Chinese president Xi Jinping led the Trumps to the Conservation Scientific Laboratory of the Forbidden City to participate in an artifact restoration.

Trump was intrigued by a ‘musical clock with country scene’ and a ‘gourd-shaped clock with rotating flowers,’ according to English-language placards.

Viewing a ‘clock with lifting tower, Trump said it was ‘unbelievable.’

Once Trump had moved on to another room, Tillerson entered with the rest of the U.S. delegation, including Branstad. The diplomat was eager to know more about the artifacts, asking many questions as White House Press Secretary Sarah Huckabee Sanders, senior adviser Jared Kushner and National Security Adviser H.R. McMaster milled about the room.

The two first couples next watched a performance of Peking opera, a distinctively Chinese art form that combines music, mime, dance and acrobatics.

Posing for pictures with the cast when the opera had concluded, Trump told them the extravagant show was ‘beautiful!’

Children waving American flags greet the Trumps as they arrive at the Beijing airport

President Donald Trump and first lady Melania Trump arrived on Air Force One in Beijing, China on Wednesday

Trump left Osan Air Base in Pyeongtaek, South Korea on his way to meet with Chinese President Xi Jinping to talk about global trade and the North Korean nuclear menace

A U.S> and Chinese honor guard met the Trumps, along with a cadre of schoolchildren waving the flags of both nations

Obama was denied use of an airport staircase when he deplaned Air Force One last September as he arrived in China for the annual Group of 20 summit – a move that was seen globally as a major snub

The Forbidden City, now a major tourist attraction, has its roots in the 15th Century and was the Chinese imperial palace from the Ming dynasty through 1912.

On the agenda for Trump during his Beijing visit are requests for a hardline approach to economically paralyzing North Korea, and talks aimed at shrinking America’s massive trade deficit with China.

Last year the Chinese sold $347 billion more in goods to the U.S. than America sold into the world’s largest communist nation.

Trump is on a five-country trip through Asia traveling to Japan, South Korea, China, Vietnam and the Philippines

Trump roared with approval as he waded through a sea of children on the tarmac Wednesday in China

Trump said Monday in Japan that he's fond of Xi Jinping, the newly-elevated communist party chair of China, and the foreign leader likes him too

Trump left South Korea on Wednesday after delivering a speech to the country’s National Assembly. He said in a tweet Wednesday morning that he was looking forward to again seeing Xi, ‘who is just off his great political victory.’

He said Monday inJapan that he’s fond of Xi, the newly-elevated communist party chair of China, and the foreign leader likes him.

But he won’t allow their mutual affection to cloud his judgement, Trump asserted, as he pledged to take ‘very, very strong action’ against China and other countries that have been treating the United States ‘unfairly’ in the trade arena.

‘He represents China. I represent the United States,’ Trump said at a news conference in Tokyo.

On the way to Beijing, a senior White House official told reporters that the president plans to keep up his habit of tweeting while he’s in China, even though Chinese citizens can’t do it.

‘The president will tweet whatever he wants,’ the official said. ‘That’s his way of communicating directly with the American people. Why not?’

‘So long as he can access his Twitter account – because Twitter is banned in China along with Facebook and most of the other social media. I’m sure we’ve got the gear aboard this airplane to make it happen. But it is noteworthy that none of the major western platforms for social media are even allowed to operate in China.’

On Tuesday in Seoul, Trump pressured Xi’s government to totally isolate Kim Jong-un, the 33-year-old despot across the border, during remarks in Seoul.

Trump tweeted Wednesday that he was looking forward to renewing his bond with Xi, whom he welcomed to his Florida Mar-a-Lago private resort in April

Trump tweeted Wednesday that he was looking forward to renewing his bond with Xi, whom he welcomed to his Florida Mar-a-Lago private resort in April

Trump has touted his relationship with Xi Jinping calling it 'outstanding', but says he still intends to get tough with the Chinese leader over trade in Beijing

In this photo taken on October 31, 2017, Chinese paramilitary guards walk in The Forbidden City in Beijing

All responsible nations must cut off North Korea’s cash flow by imposing and enforcing international sanctions on Kim and his government, Trump declared, singling out China and Russia, two permanent members of the United Nations Security Council.

‘It’s time to act with urgency and with great determination,’ the U.S. president said in a joint press conference with South Korean leader Moon Jae-in.

Beijing is the third destination on a five-nation hustle across eastern Asia.

As with every other stop on this trip, North Korea is expected to dominate Xi and Trump’s discussions.

But in Beijing, more than anywhere else during the visit, Trump – a former titan of real estate – is also under pressure to address the regional trade practices that he said as a candidate he would fix.

Trump pounded China for alleged currency manipulation in the presidential election last year that unexpectedly put him in power. He’s said as recently as February that the Chinese were ‘grand champions’ at the economic trick.

By artificially devaluing its currency, the yuan, Beijing has been able to been able to lower the price of its exports, ‘stealing’ American jobs, Trump has said.

Trump will tour a famous imperial palace and take in the opera today today with first lady Melania Trump as he brings his high-wire circuit of Asia to Beijing

His assessment was rejected by the International Monetary Fund last year, and Trump’s own administration has shied away from shackling China with the designation.

Since his April summit with Xi, the U.S. president has also backed off his verbal assault.

‘The relationship developed by President Xi and myself I think is outstanding,’ Trump said after less than a day of talks with the Chinese president and his representatives.

‘We look forward to being together many times in the future. And I believe lots of very potentially bad problems will be going away.’

Days later Trump was still gushing about his weekend in Florida with Xi in what amounted to a total about-face of his previous criticisms.

‘Now what am I going to do? Start a trade war with China while in the middle of him working on a bigger problem, frankly, with North Korea?’ he asked rhetorically in an interview with Fox & Friends.

Trump said later that month that it wouldn’t make sense to label Xi’s country a currency manipulator after the Chinese leader offered to assist the U.S. in its efforts to constrain North Korea.

‘Why would I call China a currency manipulator when they are working with us on the North Korean problem? We will see what happens!’ Trump tweeted.

China’s stepped up efforts to choke off Kim Jong-un’s finances has not kept Trump from complaining about the gross trade deficit between the two countries, nor has it had an immediate effect on the United States’ enforcement of freedom of navigation in the South China Sea.

Trump told Fox News host Maria Bartiromo late last month that the U.S. loses ‘hundreds of billions a year’ a year to China.

Trump is due in Beijing on Wednesday where he will meet Chinese leader Xi Jingping on his home soil for the first time (the two are pictured at the G20 summit in Germany in July)

‘We lose with almost every country, we have massive deficits,’ the billionaire president insisted. ‘We can’t allow the world to look at us as a whipping post. Not gonna happen, anymore.’

Monday, at a joint press conference with Japanese Prime Minister Shinzo Abe in Tokyo, Trump told a reporter who asked how his administration plans to enforce its mandate of a ‘free and open’ Indo-Asia Pacific without riling up China, a major power on the continent, that he would not allow the communist country to take advantage of the U.S.

‘You will be seeing things of countries that have been treating the United States and the United States worker and companies…our country, and our workers very unfairly, you will be seeing that the United States will take very, very strong action,’ Trump said.

The legal work is mostly finished, he revealed. ‘And you’re going to see a very big difference, and it’s going to happen very soon. Because the United States, by many countries, has been treated very, very unfairly when it comes to trade.’

Trump has not shied away from attacking China on Twitter, both before and after his first meeting with Xi at Mar-A-Lago back in April

Trump has not shied away from attacking China on Twitter, both before and after his first meeting with Xi at Mar-A-Lago back in April

The administration believes that China is behind as much as $600 million in IP theft through forced technology transfers.

China’s Commerce Ministry has called the probe ‘irresponsible’ and ‘not objective.’ Beijing would almost certainly bring additional U.S. action before the World Trade Organization.

But Trump could unilaterally impose tariffs on Beijing through Section 301 of the Trade Act of 1974 if USTR determines that China is engaging in ‘unfair trade practices’ – a powerful weapon if he decides to use it.

Trump has been hesitant to act against Beijing so long as Xi goes along with his plans to suffocate North Korea’s nuclear ambition.

The resident left Seoul on Wednesday after meeting with Moon Jae-in, the newly elected leader of South Korea

Trump visited Japan earlier this week and after stopping in Beijing he is due to visit Vietnam and the Philippines before heading back to the US

At a briefing with reporters on Sunday evening in Tokyo, a senior White House official insisted that the economic and security concerns of the Trump administration are wholly separate issues when it comes to North Korea and trade with countries in the Indo-Pacific.

‘The United States isn’t going to barter away our interests on the trade front in order to make gains doing what the entire world has, more or less, obligated itself to do, and that is to contain and confront the threat from North Korea,’ the official asserted. ‘So I don’t see a comingling of those two issues.’
http://www.dailymail.co.uk/news/article-5060593/Trump-tours-Forbidden-City-takes-opera-China.html#ixzz4xt5UopYC

 

 

Socialism with Chinese characteristics

From Wikipedia, the free encyclopedia
National Emblem of the People's Republic of China (2).svg
This article is part of a series on the
politics and government of
China
Socialism with Chinese characteristics
Simplified Chinese 中国特色社会主义
Traditional Chinese 中國特色社會主義

Socialism with Chinese characteristics, meaning Marxism–Leninism adapted to Chinese conditions, is the official ideology of the Communist Party of China (CPC), claimed to be based upon scientific socialism. The term means Mao Zedong ThoughtDeng Xiaoping TheoryThree RepresentsScientific Outlook on Development and Xi Jinping Thought; that is, if you want to introduce socialism with Chinese characteristics in practice you have to implement, for instance, Xi Jinping Thought (which is a set of Marxist policies to implement socialism).

Primary stage of socialism

During Mao era

The concept of a primary stage of socialism was conceived before China introduced economic reforms.[1] When discussing the necessity of commodity relations at the First Zhengzhou Conference (2–10 November 1958) Mao Zedong—the Chairman of the CPC’s Central Committee—said that China was in the “initial stage of socialism” [1] Mao never elaborated on the idea; his successors were left to do this.[1]

After Mao’s death

On 5 May 1978, the article “Putting into Effect the Socialist Principle of Distribution According to Work”, elaborated on the idea that China was still at the first stage of reaching pure communism[2] and that it had not become a truly socialist society.[2] It is said[by whom?] that the article was written on the orders of Deng Xiaoping, so as to “criticize and repudiate” the beliefs of the communist left.[3] The term reappeared at the 6th plenum of the 11th Central Committee on 27 June 1981 in the document, “Resolution on Certain Questions in the History of our Party since the Founding of the PRC”.[4] Hu Yaobang, the CPC’s general secretary, used the term in his report to the 12th CPC National Congress on 1 September 1982.[4] It was not until the “Resolution Concerning the Guiding Principle in Building Socialist Spiritual Civilization” at the 6th plenum of the 12th Central Committee that the term was used in the defense of the economic reforms which were being introduced.[4]

At the 13th CPC National Congress, acting CPC General Secretary Zhao Ziyang, on behalf of the 12th Central Committee, delivered the report “Advance Along the Road of Socialism with Chinese characteristics”.[5] He wrote that China was a socialist society, but that socialism in China was in its primary stage;[5] a Chinese peculiarity which was due to the undeveloped state of the country’s productive forces.[5] During this phase of development, Zhao recommended introducing a planned commodity economy on the basis of public ownership.[5] The main failure of the communist right, according to Zhao, was that they failed to acknowledge that China could reach socialism by bypassing capitalism. The main failure of the communist left was that they held the “utopian position” that China could bypass the primary stage of socialism, in which the productive forces are to be modernized.[6]On 25 October 1987, Zhao further expounded on the concept of the primary stage of socialism, and said that the Party line was to follow “One Center, Two Basic Points”; the central focus of the Chinese state was economic development, but that this should occur simultaneously through centralized political control (i.e., the Four Cardinal Principles) and upholding the policy of reform and opening up.[4]

CPC General Secretary Jiang Zemin further elaborated on the concept ten years later; first during a speech to the Central Party School on 29 May 1997 and again in his report to the 15th CPC National Congress on 12 September 1997.[4] According to Jiang, the 3rd plenum of the 11th Central Committee correctly analyzed and formulated a scientifically correct program for the problems facing China and socialism.[4] In Jiang’s words, the primary stage of socialism was an “undeveloped stage”.[4] The fundamental task of socialism is to develop the productive forces, therefore the main aim during the primary stage should be the further development of the national productive forces.[4] The primary contradiction in Chinese society during the primary stage of socialism is “the growing material and cultural needs of the people and the backwardness of production”.[4] This contradiction will remain until China has completed the process of primary stage of socialism, and because of it, economic development should remain the CPC’s main focus during this stage.[4]

Jiang elaborated on three points to develop the primary stage of socialism.[7] The first—to develop a socialist economy with Chinese characteristics—meant developing the economy by emancipating and modernizing the forces of production while developing a market economy.[7] The second—building socialist politics with Chinese characteristics—meant “managing state affairs according to the law”, developing socialist democracy under the CPC and making the “people the masters of the country”.[7] The third point—building socialist culture with Chinese characteristics—meant turning Marxism into the guide to train the people so as to give them “high ideals, moral integrity, a good education, and a strong sense of discipline, and developing a national scientific, and popular socialist culture geared to the needs of modernization, of the world, and of the future.”[7]

When asked how long the primary stage of socialism would last, Zhao replied, “[i]t will be at least 100 years … [before] socialist modernization will have been in the main accomplished.”[8] The state constitution states that “China will be in the primary stage of socialism for a long time to come”.[9] As with Zhao, Jiang believed that it would take at least 100 years to reach a more advanced stage.[4]

Socialist market economy

Deng Xiaoping, the architect of the Chinese economic reforms, did not believe that the market economy was synonymous with capitalism or that planning was synonymous with socialism.[11] During his southern tour, he said, “planning and market forces are not the essential difference between socialism and capitalism. A planned economy is not the definition of socialism, because there is planning under capitalism; the market economy happens under socialism, too. Planning and market forces are both ways of controlling economic activity”.[11]

Ideological justification

In the 1980s it became evident to Chinese economists that the Marxist theory of the law of value—understood as the expression of the labor theory of value—could not serve as the basis of China’s pricing system.[12] They concluded that Marx never intended his theory of law of value to work “as an expression of ‘concretized labor time’ “.[12] Marx’s notion of “prices of production” was meaningless to the Soviet-styled planned economies since price formations were according to Marx established by markets.[13] Soviet planners had used the law of value as a basis to rationalize prices in the planned economy.[14] According to Soviet sources, prices were “planned with an eye to the … basic requirements of the law of value.”[14] However, the primary fault with the Soviet interpretation was that they tried to calibrate prices without a competitive market since, according to Marx, competitive markets allowed for an equilibrium of profit rates which led to an increase in the prices of production.[15] The rejection of the Soviet interpretation of the law of value led to the acceptance of the idea that China was still in the “primary stage of socialism”.[14] The basic argument was that conditions envisaged by Marx for reaching the socialist stage of development did not yet exist in China.[14]

Mao said that the imposition of “progressive relations of production” would revolutionize production.[16] His successor’s rejection of this view has, according to A. James Gregor, thwarted the ideological continuity of Maoism—officially “Mao Zedong Thought“.[16] Classical Marxism had argued that a socialist revolution would only take place in advanced capitalist societies, and its success would signal the transition from a capitalist commodity-based economy to a “product economy” in which goods would be distributed for people’s need and not for profit.[16] If because of a lack of a coherent explanation in the chance of failure this revolution did not occur, the revolutionaries would be forced to take over the responsibilities of the bourgeoisie.[16] Thus Chinese communists are looking for a new Marxist theory of development.[16] Party theorist Luo Rongqu recognized that the founders of Marxism had never “formulated any systematic theory on the development of the non-Western world”, and said that the Communist Party should “establish their own synthesized theoretical framework to study the problem of modern development.”[17] According to A. James Gregor, the implication of this stance “is that Chinese Marxism is currently in a state of profound theoretical discontinuity.”[18]

Private ownership

The concept of private ownership is rooted in classical Marxism.[19] Because China adopted socialism when it was a semi-feudal and semi-colonial country, it is in the primary stage of socialism.[19] Because of this, certain policies and system characteristics—such as commodity production for the market, the existence of a private sector and the reliance of the profit motive in enterprise management—were changed.[19] These changes were allowed as long as they improve productivity and modernize the means of production, and thus further develop socialism.[19] According to this perspective, Mao’s leftist belief that China could advance to full socialism immediately by bypassing capitalism is considered false.[19]

The CPC still considers private ownership to be non-socialist.[20] However, according to party theorists, the existence and growth of private ownership does not necessarily undermine socialism and promote capitalism in China.[20] It is argued that Karl Marx and Friedrich Engels—the founders of communism—never proposed the immediate abolishment of private ownership.[20] According to Engel’s book Principles of Communism, the proletariat can only abolish private ownership when the necessary conditions have been met.[20] In the phase before the abolishment of private ownership, Engels proposed progressive taxation, high inheritance taxes and compulsory bond purchases to restrict private property while using the competitive powers of state-owned enterprises to expand the public sector.[20]Marx and Engels proposed similar measures in the Communist Manifesto in regards to advanced countries, but since China was economically undeveloped, party theorists called for flexibility regarding the CPC’s handling of private property.[20] According to party theorist Liu Shuiyuan, the New Economic Policy program initiated by Soviet authorities in the aftermath of the war communism program is a good example of flexibility by socialist authorities.[20]

Party theorist Li Xuai said that private ownership inevitably involves capitalist exploitation.[20] However, Li regards private property and exploitation as necessary in the primary stage of socialism, claiming that capitalism in its primary stage uses remnants of the old society to build itself.[20] Sun Liancheng and Lin Huiyong said that Marx and Engels, in their interpretation of the Communist Manifesto, criticized private ownership when it was owned solely by the bourgeoisie but not individual ownership in which everyone owns the means of production and hence cannot be exploited by others.[21] Individual ownership is consistent with socialism since Marx wrote that post-capitalist society would entail the rebuilding of “associated social individual ownership”.[22]

Criticism

According to writer and researcher Huang Yasheng and many others, the economic theory in China is not socialism with Chinese characteristics but the opposite—capitalism with Chinese characteristics.[23]

See also

References

Citations

  1. Jump up to:a b c Li 1995, p. 400.
  2. Jump up to:a b He 2001, p. 385.
  3. Jump up^ He 2001, pp. 385–386.
  4. Jump up to:a b c d e f g h i j k He 2001, p. 386.
  5. Jump up to:a b c d Li 1995, p. 399.
  6. Jump up^ Schram 1989, p. 204.
  7. Jump up to:a b c d He 2001, p. 387.
  8. Jump up^ Vogel 2011, p. 589.
  9. Jump up^ 2nd session of the 9th National People’s Congress (14 March 2004). “Constitution of the People’s Republic of China”Government of the People’s Republic of China. Retrieved 14 January2013.
  10. Jump up^ Deng, Xiaoping (30 June 1984). “Building a Socialism with a specifically Chinese character”People’s DailyCentral Committee of the Communist Party of China. Retrieved 13 January2013.
  11. Jump up to:a b Staff writer (3 February 2012). “Market fundamentalism’ is unpractical”People’s DailyCentral Committee of the Communist Party of China. Retrieved 13 January 2013.
  12. Jump up to:a b Gregor 1999, p. 114.
  13. Jump up^ Gregor 1999, pp. 114–116.
  14. Jump up to:a b c d Gregor 1999, p. 116.
  15. Jump up^ Gregor 1999, pp. 115–116.
  16. Jump up to:a b c d e Gregor 1999, p. 117.
  17. Jump up^ Gregor 1999, pp. 117–118.
  18. Jump up^ Gregor 1999, p. 118.
  19. Jump up to:a b c d e Hsu 1991, p. 11.
  20. Jump up to:a b c d e f g h i Hsu 1991, p. 65.
  21. Jump up^ Hsu 1991, pp. 65–66.
  22. Jump up^ Hsu 1991, p. 66.
  23. Jump up^http://www.cambridge.org/us/academic/subjects/economics/public-economics-and-public-policy/capitalism-chinese-characteristics-entrepreneurship-and-state?format=HB

Sources

Further reading

  • A. James Gregor. Marxism and the Making of China. A Doctrinal History. Palgrave Macmillan. 2014

https://en.wikipedia.org/wiki/Socialism_with_Chinese_characteristics

Story 2: President Trump Meets With Japanese Prime Minster Shinzo Abe and President Moon Jai-in As U.S. Navy Flexes Air Power — All Options Are On The Table — Let’s Make A Deal North Korea — Video —

Image result for President Donald Trump President Moon Jae-in at the Blue House in Seul, South KoreaImage result for trump meets japanes prime ministerImage result for trump meets japanes prime minister

Trump’s South Korea speech, in 3 minutes

Trump’s speech to South Korea’s parliament (full)

Is Trump softening his stance on North Korea?

Trump urges N Korea to ‘come to the table’

Trump Calls On North Korea To “Make A Deal” – Full News Conference In Seoul

President Trump Receives a Military Briefing on North Korea from Top Generals 11/7/17

President Trump Has Lunch with U.S. Troops in South Korea (Camp Humphreys) 11/6/17

Donald Trump in South Korea, Gives hint of Handling North Korea in Some different way.

President Trump meeting with President Moon Jae In of the Republic of Korea. Nov 7, 2017

President Trump participates in a bilateral meeting with President Moon Jae In of the Republic of Korea

Trump arrives in South Korea amid tensions with North

President Trump and first lady Melania Trump is officially welcomed to Seoul, Republic of Korea.

President Trump and First Lady Melania Trump arrives in South Korea. November 7, 2017.

Is Melania Trump’s coat for South Korea fashion hit or miss?

Warning: China Russia Saudi Arabia & Iran To Use Yuan For Trading Oil Next Step Is WW3

High Alert: For The First Time In 13 Years, U.S. Deploys 7 Aircraft Carriers Simultaneously

For The First Time In 13 Years, U.S. Deploys 7 Aircraft Carriers Simultaneously

The US has simultaneously deployed 7 of the 11 U.S. nuclear aircraft carriers for the first time in over a decade according to the US Naval Institute. The three aircraft carriers with full air wings and strike groups positioned in the Western Pacific are the following: USS Ronald Reagan (CVN-76); USS Nimitz (CVN-68); USS Theodore Roosevelt (CVN-71). Another four are conducting “short training missions as part of training operations or workups ahead of deployment”. Two out of four are operating in Eastern Pacific – USS Carl Vinson (CVN-70) and USS John C. Stennis (CVN-74) – and the remaining two are operating in the Atlantic, the USS Abraham Lincoln (CVN-72) and USS Gerald R. Ford (CVN-78).

What 3 US Supercarriers in the Asia-Pacific Means for N. Korea

High Alert: 3 US Carrier Strike Groups Enter Asia-Pacific Ahead of Trump Visit

President Trump Joint Press Conference with Prime Minister Shinzo Abe. Japan. Tokyo. Nov 6, 2017.

President Trump attends state banquet hosted by Japanese PM. President Trump in Japan.

President Trump Participates in a Working Lunch with Prime Minister Shinzo Abe of Japan

Trump and Abe meet at a golf course in Japan

President Trump Plays Golf with Prime Minister Abe in Japan 11/5/17

Trump abruptly talking negotiations, not threats in Korea

SEOUL, South Korea (AP) — Softening his aggressive rhetoric, at least for the moment, President Donald Trump stood on South Korean soil Tuesday and urged North Korea to come to the negotiating table. It’s time, he said, for the North to “make a deal” to rein in its nuclear weapons program.

It was a striking shift in tone for the president, who for months has issued increasingly dire threats to answer any hostile North Korean action with “fire and fury.” On Tuesday, his first day on the Korean Peninsula as president, Trump said he’d seen “a lot of progress” in dealing with Pyongyang, though he stopped short of saying whether he wanted direct diplomatic talks.

“It makes sense for North Korea to come to the table and make a deal that is good for the people of North Korea and for the world,” Trump said at a news conference with South Korean president Moon Jae-in. “I do see certain movement.”

Trump was winding down his visit to Seoul on Wednesday with an address to South Korea’s National Assembly, where he was expected to outline his view of dangers posed by North Korea’s nuclear weapons program. The next stop on his five-nation Asian tour: Beijing, where he will press China to constrict the North’s economic lifeblood.

President Donald Trump says he believes he sees a lot of progress on the North Korean issue. Trump also urged North Korea to ‘come to the table and make a deal.’ He spoke during a news conference with South Korean President Moon Jae-in. (Nov. 7)

Ever the showman, Trump teased that he had a surprise in store for Wednesday, saying at a Tuesday evening banquet that he had an “exciting day” planned — “for many reasons that people will find out.” He did not elaborate.

Overall, the president sounded an optimistic note on disagreements with the North, saying confidently, if vaguely: “Ultimately, it’ll all work out.” Whether the shift in rhetoric signaled a change in policy or diplomatic strategy remained uncertain.

Mark Fitzpatrick, executive director in Washington for the International Institute for Strategic Studies, said it could simply be Trump projecting “what he most recently heard” from Moon and Japan’s Shinzo Abe.

“I expect he heard from both Prime Minister Abe and President Moon the need to give diplomacy a chance,” Fitzpatrick said. “Of course, it’s not the first time he has talked about engaging with North Korea. The issue has been one of timing. Now is a good time, during a pause in missile testing.”

North Korea has fired off more than a dozen missiles this year but none in nearly two months. But analysts caution against reading too much into the pause.

There’s no public sign of any diplomatic progress between Washington and Pyongyang. U.S. officials say the back channel between the State Department and the North Korean mission at the United Nations in New York remains intact, but contacts have not been substantive other than achieving the release of American college student Otto Warmbier in June. He died days after his repatriation to the U.S.

Still, Trump’s conciliatory comments would be welcome in South Korea, where both the government and the wider population have been unnerved by the president’s threats against the North.

Trump did note the United States’ military options, mentioning that three aircraft carrier groups and a nuclear submarine had been deployed to the region. But he said “we hope to God we never have to use” the arsenal. And he accused North Korea’s Kim Jong Un of “threatening millions and millions of lives, so needlessly.”

Moon, who has been eager to solidify a friendship with Trump, said he hoped the president’s visit would be a turning point in the standoff with North Korea.

The president began his day with a visit to Camp Humphreys, a joint US-Korean military base where he shook hands with American and Korean service members and ate lunch with troops in a large mess hall. The visit was intended to underscore the countries’ ties and South Korea’s commitment to contributing to its own defense.

When he leaves South Korea, Trump flies to Beijing for what the White House sees as the centerpiece of his five-nation Asia trip.

China is North Korea’s largest trade partner, and Trump is expected to press its leaders to curtail their dealings with Pyongyang and to expel North Korean workers from its borders. Trump has praised China for adopting tough United Nations sanctions against North Korea but has urged it to do more.

“I want to just say that President Xi — where we will be tomorrow, China — has been very helpful. We’ll find out how helpful soon,” Trump said. “But he really has been very, very helpful. So China is out trying very hard to solve the problem with North Korea.”

Trump and first lady Melania Trump on Wednesday will meet and have dinner with Xi Jinping and his wife and receive a private tour of The Forbidden City, Beijing’s ancient imperial palace. White House officials point to the leaders’ successful summit in Florida this spring, an event in part defined by Trump telling his Chinese counterpart about the missile strike he had ordered on Syria while the two men enjoyed chocolate cake. But experts in the region suggest that Xi will have the advantage over Trump.

“Trump keeps portraying his relationship with XI as great pals but that’s wildly naive,” said Mike Chinoy, a non-resident senior fellow at the US-China Institute at the University of Southern California. “The Chinese have figured out how to play Trump: flatter him. And there’s nothing the Chinese do better than wow foreign diplomats.”

___

Associated Press writers Matthew Pennington, Ken Thomas and Catherine Lucey contributed from Washington.

___

https://apnews.com/19aece3ccf5c4c9496a777497379e709/In-Seoul,-Trump-calls-for-North-Korea-to-%22make-a-deal%22

EXCLUSIVE: We are ready for anything – don’t mess with our Hornets. Admiral in charge of supercarrier which will sail for North Korea’s doorstep sends message to Kim Jong-Un as Trump touches down in Seoul

  • DailyMailTV joined the Rear Admiral and crew of the USS Carl Vinson as the huge warship left its port in San Diego for a series of exercises ahead of its deployment
  • The Vinson will sail for the Western Pacific to relieve the USS Ronald Reagan and be one of two carrier strike groups in the region amid ongoing tensions with North Korea
  • Rear Admiral John Fuller, Commander of Carrier Strike Group 1, will lead the vessel and its ferocious armament of planes and escort of Arleigh Burke-class guided missile destroyers and a guided missile cruiser
  • Aboard the 95,000 ton vessel are fighter aircraft such as the $70million F/A-18 Super Hornet – capable of reaching Mach 1.8 (1,190mph) with a massive armament of bombs and missiles
  • In a message to Kim Jong-Un Rear Admiral Fuller said: ‘He needs to think very carefully on how he works with us, he needs to understand that we have capabilities that no other country has.’
  • The supercarrier has more than 3,500 crew which swells to 5,300 when the air wing is on board – the warship was used to transport Osama bin Laden’s body for its burial at sea in 2011
  • President Trump embarked on his 12-day trip to Asia, arriving on Sunday in Tokyo, where he met with Prime Minister Shinzo Abe amid heightened tensions over Pyongyang’s nuclear and missile tests

The twin engines of the F/A-18 Super Hornet build into a roar and the $70million supersonic jet is catapulted from the deck of the USS Carl Vinson with an ear-splitting blast.

The aircraft disappears off the bow of the enormous nuclear-powered super carrier in a haze of steam, the bright glow of its engines disappearing into the distance.

This is one of the planes the man in charge of the supercarrier wants Kim Jong-Un to fear – because the Vinson is due to set sail for waters close to North Korea.

President Trump arrives in South Korea Monday night putting him on Kim’s doorstep as tensions mount over the ‘little Rocket Man’s’ escalating nuclear threat.

Now one of the president’s most important commanders tells DailyMailTV that his sailors are ready for anything – and that Kim needs to ‘think carefully’ when Carrier Strike Group One is in his waters.

Rear Admiral John Fuller, Commander of Carrier Strike Group 1, will lead the Vinson, its ferocious armament of planes, and its escort of Arleigh Burke-class guided missile destroyers and a guided missile cruiser.

Don't mess with our Hornets: DailyMailTV witnessed the incredible sight of hundreds of sailors and airmen on board the 1,092ft long, 117,000 sq ft USS Carl Vinson as they put its four aircraft catapults through their paces. Its aircraft include the Hornet and Super Hornets and the EA-18 Growler (pictured) electronic attack aircraft, which jams enemy radar systems 

Don’t mess with our Hornets: DailyMailTV witnessed the incredible sight of hundreds of sailors and airmen on board the 1,092ft long, 117,000 sq ft USS Carl Vinson as they put its four aircraft catapults through their paces. Its aircraft include the Hornet and Super Hornets and the EA-18 Growler (pictured) electronic attack aircraft, which jams enemy radar systems

Aboard the 95,000 ton vessel, the twin engines of the F/A-18C Hornet were heard roaring off as the $70 million aircraft was catapulted off the deck. The strike fighter aircraft, which can reach Mach 1.8 (1,190mph), disappeared off the bow of the super carrier in a haze of steam

Aboard the 95,000 ton vessel, the twin engines of the F/A-18C Hornet were heard roaring off as the $70 million aircraft was catapulted off the deck. The strike fighter aircraft, which can reach Mach 1.8 (1,190mph), disappeared off the bow of the super carrier in a haze of steam

Preparation: Before liftoff, Navy crew work diligently to complete the complex tasks

Mini tractors tow the F/A18s into place and the Top Gun pilots ready the jets for take off

Commander Brian 'Convict' Felloney gets ready for take-off. The decorated pilot has more than 620 carrier landings on his record, and was a Top Gun instructor on a previous deployment

This is how the Vinson deploys: In May the supercarrier was photographed from the air as it and the whole strike group got an escort from two South Korean destroyers, the Sejong the Great and the Yang Manchun. The Carl Vinson's U.S. Navy escorts were the USS Lake Champlain, a Ticonderoga-class cruiser, and the Arleigh Burke-class destroyers the USS Michael Murphy and the USS Stethem

This is how the Vinson deploys: In May the supercarrier was photographed from the air as it and the whole strike group got an escort from two South Korean destroyers, the Sejong the Great and the Yang Manchun. The Carl Vinson’s U.S. Navy escorts were the USS Lake Champlain, a Ticonderoga-class cruiser, and the Arleigh Burke-class destroyers the USS Michael Murphy and the USS Stethem

In an exclusive interview with DailyMailTV Rear Admiral Fuller says his strike group is ‘ready and in a direct message to Kim says: ‘He knows the capabilities we have.

‘Right now there are three aircraft carriers there, when we go through there – if we go off the coast [of North Korea] depending on our operations – he needs to think very carefully on how he works with us, he needs to understand that we have capabilities that no other country has.’

Standing on the deck of the Vinson, those capabilities are in no doubt.

DailyMailTV joined the Rear Admiral and crew of the Vinson as the huge warship left its port in San Diego for a series of exercises ahead of its deployment.

The ship raised its two 60,000lb anchors and set sail from Naval Air Station North Island, in Coronado.

Capable of reaching more than 30 knots (35mph) the Nimitz-class supercarrier – one of ten nuclear-powered aircraft carriers in the US Fleet – headed out into the Pacific Ocean.

DailyMailTV witnessed the awesome sight of hundreds of sailors and airmen on board the 1,092ft long, 117,000 sq ft warship put its four aircraft catapults through their paces.

Four giant elevators brought aircraft up from the hangar deep below the 4.5 acre flight deck as Super Hornets lined up on deck to be catapulted into the air – just like in a real war.

The USS Ronald Reagan and the USS Theodore Roosevelt are both in the region amid ongoing tensions with North Korea. The Vinson will relieve the USS Ronald Reagan, keeping two carrier strike groups in the Western Pacific.

The ship is the same vessel that was used to transport Osama bin Laden’s body for its burial at sea in 2011.

Last week it was reported that the USS Nimitz had left the Middle East and is also heading to the Pacific to join the US Navy’s 7th Fleet area of operations.

Rear Admiral John Fuller (pictured above in the flag bridge aboard the ship) Commander of Carrier Strike Group 1, will lead the Vinson. He said his strike group is 'ready' and in a direct message to Kim said: 'He knows the capabilities we have'

All hands on deck: One of the most important man on the flight deck is Lieutenant Commander Erick Stroud (pictured) who serves as the Aircraft Handling Officer (ACHO) - also called the handler or mangler and manages the movement and positioning of aircraft

President Trump will visit Asia for the first time when he leaves Washington D.C. on Friday for a 12-day trip which will include China, Japan, the Philippines, South Korea and Vietnam.

The might of the Vinson is part of his message to the region’s leaders – that America has its allies’ backs, and its enemies should be afraid.

The Rear Admiral said: ‘There happens to be three carriers there that are gonna be working together for a while. This is good timing for us.

‘We’re going to go out to provide presence, stability, we’re going to go work with our partners and allies, we’re going to try to foment rules, laws and norms of theater.’

North Korea has not test-launched a missile in over a month, but has continued its threats on Guam and last week even threatened to detonate a nuclear weapon above ground.

Fuller, 52, the son of a retired Army colonel, said the ‘scheduled short cycle’ deployment is the Vinson’s ‘opportunity’.

‘I just know the Carl Vinson strike group is going to do the training to be ready to do what we’re called to do,’ he said.

Petty Officer 3rd class Joseph Newman, a 42-year-old nine-year veteran of the US Navy from Evansville, Indiana, is in charge of communications on the flight deck

‘We’re gonna go prepare our forces and our team to make sure that whatever missions they call us to do, so this provides perspective, Korea is one possible contingency plan that the aircraft carrier strike group is supposed to support.’

The Rear Admiral said the ‘beauty’ of what a carrier strike group brings is to project ‘awesome’ power at sea.

‘We don’t have to ask permission to go to some other land to operate our forces, we have the opportunity to use the seas to maneuver freely and we have the capability to project power from the sea as required.

‘But it is also a very stabilizing thing for our friends and allies that this capability is there as needed, we have the will power to use it and we have the proficiency to use it well.’

The Rear Admiral insists, however that the Navy’s first line of defense is to ‘promote peace’, adding: ‘My job is to make sure if they decide to use the capabilities an aircraft carrier and a strike group has, that we’re prepared to deliver those.

‘The civilian policy maker will do what they feel is in the best interests.

‘But I owe it to the parents of my sailors to make sure we’re ready.’

On deck getting ready is a complex task. Mini tractors tow the F/A18s into place and the Top Gun pilots ready the jets for take off.

Commanding Officer of the Vinson, Captain Doug ‘V8’ Verissimo gives the order and the jets roar into action.

Jet blast deflector (JBD) operator ABE3 Jasper Evans, who is known as a ‘Green Jersey’ describes the ‘intense’ moment a F/A-18 takes off.

His job is to raise the JBD to protect his shipmates from the searing heat of a jet engine.

‘Whenever the aircraft is getting ready to launch they throttle up and I raise the JBD so that no one behind can get burnt or blown away off the flight deck,’ he explained.

‘It gets really hot up here, really intense. But we’re fully protected, we wear float coats, flight deck pants and jersey, and a helmet and goggles.’

Evans, 27, is in his fourth year with the US Navy. Originally from Lawrenceville, Georgia, he has just one year left to complete his service.

Donald Trump kicked off his 12-day Asian trip in Japan on Sunday. The President met with Japan's Prime Minister Shinzo Abe amid heightened tensions over Pyongyang's nuclear and missile tests

He has been on two long deployments overseas and is used to the strict routine of life at sea.

‘Everything is routine on a ship, you wake up at a certain time, go eat breakfast and get ready for when they call flight operations and we come upstairs on the flight deck, we suit up and get ready to launch the aircraft.

‘A work day ends at 10 or 11 o’clock and it repeats – very long days.’

The flight deck is awash with dedicated crewmen like Evans wearing different colored jerseys.

Green jerseys operate the JBDs, aircraft handlers wear yellow jerseys, blue jerseys work in the hangar bay and purple jerseys refuel the aircraft, while red jerseys handle aviation ordinance and crash and salvage.

The whole manic scene is watched over by white jerseys.

Interior Communications Electrician Petty Officer 3rd Class Joseph Newman from Evansville, Indiana is in charge of communications on the flight deck.

Everyday is routine on the ship as Navy crew are expected to wake up early in the morning, eat breakfast, get ready, arrive on the flight deck, suit up, and prepare to launch the aircraft. A typical work day ends at 10pm or 11pm

The flight deck is awash with dedicated crewmen wearing different colored jerseys. Green jerseys (center) operate the jet blast deflectors, and aircraft handlers wear yellow jerseys (right) 

‘I take care of all the maintenance of the cameras, the comms systems and the deck lighting as well as the lights up on the island,’ he explains.

Blue jerseys work in the hangar bay and purple jerseys refuel the aircraft, while red jerseys handle aviation ordinance and crash and salvage. The Hornets, Super Hornets and Growlers are moved up to the flight desk on huge aircraft elevators

Four giant elevators brought aircraft up from the hangar deep below the 4.5 acre flight deck as Super Hornets lined up on deck to be catapulted into the air - just like in a real war

‘I also take care of the ‘meat ball’, [a gray boom that displays lights that pilots use to help during the final seconds of landing].

‘You’ll hear the pilots say they’re on the ball as they come in to land. We also take care of all the sound power headsets that the crew use to communicate, we keep things running.

‘It’s a big job, up here in V2 and air department and we also have ICs downstairs in combat systems.’

Newman is a 42-year-old nine-year veteran of the US Navy and has served on the Vinson for six years.

‘I joined late, I did apartment maintenance before this.’

But perhaps the most important man on the flight deck is Lieutenant Commander Erick Stroud.

Stroud is the Aircraft Handling Officer (ACHO) – also called the handler or mangler and manages the movement and positioning of aircraft.

Stroud, 42, a married father of four from Griffin, Georgia, said the most important part of the preparations is keeping his flight deck clean and free of foreign objects.

‘I don’t want to be associated with damaging a $70million aircraft so we go to the extreme to make sure we’re prepared,’ he said.

The ship operates four squadrons of F/A-18 Hornet and Super Hornets, one squadron of EA-18G Growlers, and Seahawk helicopters for transportation and maritime patrols 

Also on board is a squadron of E-2C Hawkeye early warning aircraft - designed to detect jets, ships and other vehicles from long distances 

Also on board is a squadron of E-2C Hawkeye early warning aircraft – designed to detect jets, ships and other vehicles from long distances

There are more than 3,500 crew on the Vinson which swells to 5,300 when the full air wing is on embarked, as it was in this 2011 photograph. The warship – call sign 'Gold Eagle' - can operate for up to 20 years without refueling since it is nuclear-powered

Speaking from his control room – a buzz of phone calls and radio chatter – just off the flight deck, he added: ‘This is the nucleus of aviation and flight operations, I control the entire flight deck as well as movement in the hangar bay and all the people involved, we have about 600 people working in those two areas and we integrate with the squadrons, that’s about 500 people.

‘That’s 1,100 people working together seamlessly to make this all happen.’

DON’T MESS WITH OUR SUPER HORNETS

The twin-engine strike fighter aircraft were first introduced to the US Navy in 1999 to replace the F-14 Tomcat, made famous in the hit movie Top Gun.

The F/A-18 Super Hornet can reach Mach 1.8, which is equivalent to 1,190mph at 40,000 ft.

On the Vinson they operate alongside the older Hornet and the related Growler. 

The Super Hornets’ armament includes: 

One M61A1/A2 Vulcan 20mm cannon

The strike fighter has 11 hard points on its wings and under the main fuselage which can carry a mixture of:

Missiles: Four AIM 9 Sidewinder air-to-air missiles

Two AIM 7 Sparrow/ (2) AIM-120 AMRAAM

One Standoff Land Attack Missile

One AGM-84 Harpoon anti-ship missile

One HARM (Anti-Radiation Missile) – designed to destroy enemy radar systems

Maverick air to ground missiles: Joint Stand-Off Weapon (JSOW); Joint Direct Attack Munition (JDAM).

Bombs: Paveway laser guided bomb; JDAMs (joint direct attack munitions); freefall bombs; mines.

As of 2011, 500 Super Hornets have been built on single-seat (F/A-18E) and twin-seat (F/A-18F) variations.

Source: US NAVY 

 Stroud keeps an eye on two large digital status boards showing the movements of aircraft on the flight deck but he also uses an old school ‘Ouija Board’ – a scaled replica of the flight deck on which templates of aircraft are moved around based on messages radioed in from spotters.

The lieutenant commander, a 25-year veteran, has four catapults to launch aircraft at his disposal as well as four arresting cables to recover the aircraft.

He moves the aircraft up from the hangar bay in the guts of the ship on four giant elevators.

When planes make an arrested landing, pilots aim to hit the No 3 cable of four arrested cables numbered 1-4 from aft to forward.

Their performance goes up on a board so it gets competitive.

But crew safety is of utmost importance.

Stroud explains: ‘There’s a red and white foul line, which is said to be drawn in blood, because you have to judge where the aircraft is coming in and everybody has to stand on the opposite side of the line.

‘If an aircraft is coming in and you get one of the tall guys level with the wing on the wrong side of the line, it’ll take his head off and we’ll have a body to clean up.

‘When we get into that level of complacency, where we get into the same routine every day, launching planes and recovering planes, that one second of being inattentive is dangerous.

‘You have to keep your head on a swivel no matter what.’

Everyone on the Vinson seems on point inside the 3,000 room hull underneath the flight deck.

There are several cafeterias, nine gyms, a Starbucks-style coffee shop and ‘luxury’ state rooms for ‘Distinguished Visitors’.

Since it is nuclear-powered, the Vinson – call sign ‘Gold Eagle’ – can operate for up to 20 years without refueling. It also has anti-submarine capabilities.

The seal of the ship is an eagle with extended wings, carrying a banner in its beak.

The Latin phrase ‘Vis Per Mare’ -‘Strength through the Sea’ – is inscribed on the banner.

The ship operates four squadrons of F/A-18 Hornet and Super Hornets, one squadron of EA-18G Growlers – which disrupt enemy radar – one squadron of E-2C Hawkeye early warning aircraft, as well as a compliment of C2-A Greyhound transport planes and Seahawk helicopters.

There are more than 3,500 crew on the Vinson, which swells to 5,300 when the air wing is on board, which means working seven days a week with shifts often lasting 12 hours or more. But few complain about living on the floating city.

The massive warship has a 3,000-room hull below the flight deck which includes several cafeterias, nine gyms, a Starbucks-style coffee shop and 'luxury' state rooms for 'Distinguished Visitors'

On a daily average, the Navy spends around $60,000 feeding sailors and on Sunday, they serve a special brunch meal which includes Belgian waffles or some shrimp

On a daily average, the Navy spends around $60,000 feeding sailors and on Sunday, they serve a special brunch meal which includes Belgian waffles or some shrimp

In addition to the gym facilities, sailors also have the opportunity to take Zumba and spin classes, weight-lifting and functional fitness classes and even rowing club

‘On a daily average we spend around $60,000 to feed the crew, which is roughly about 15-20 pallets worth of food.

‘A special day for us is Sunday, we do a brunch we serve things like Belgian waffles, some shrimp, a special chance to give the sailors a chance to refresh for the next week.’

After filling up a lot of the sailors like to keep fit. Dan Larrell is in charge of putting them through their paces in the ship’s nine gyms.

‘I am a fitness director, if you imagine this warship as a large 24 hour fitness, we have 4,500 sailors and we treat them all as our clients,’ he explains.

Larrell says as well as running and maintaining the gyms he puts together the fitness schedule and offers Zumba and spin classes, weight-lifting and functional fitness classes and even rowing club.

‘Any sailor on any watch on any schedule can come to our classes,’ he added.

‘What’s really incredible is that we not only get the younger sailors at our classes but we get the captain of the ship, the XO [executive officer] of the ship and the admiral of the ship, when I train them… it’s the first time in a very long time someone is telling them what to do. It’s my time to make them work a little bit harder.’

Running the Vinson, let alone a whole Carrier Strike Group, is a huge undertaking and one that Fuller doesn’t take lightly.

He says he’s incredibly ‘honored and humbled’ to be in the position he’s in.

‘I never expected that I would have the opportunity to lead such an awesome fighting force and such an awesome group of sailors. It hasn’t even really sunk in, I’m just amazed I get this chance here. I am exceptionally proud of that.’

And the commander says America should be equally proud of the US Navy’s achievements.

He said: ‘The most awesome thing we have is some of the best people in America who volunteered to help protect and promote prosperity for our American citizens and then with those great people we have fantastic equipment and systems that allow us to project power from the sea for sustained periods of time in ways no other country can.’

Soon the Vinson will be in Kim’s waters – and those people and equipment could be tested as never before.

Story 3: Saudi Arab On The Brink of Proxy War With Lebanon Paritally Controlled By Iran-backed Lebanese Shi‘ite group Hezbollah — Saudi Arab Blames Iran For Yemen Missile Attack — Purge and Roundup of Royal Prince Continues — Videos —

Middle East unrest could have ‘significant impact’ on oil prices: John Bolton

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House of Card the Saudi king tightens grip on power

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After shakeup, can Saudi Arabia’s crown prince deliver on promise of reform?

𝐁en 𝐒hapiro 𝐄xplains 𝐓he 𝐆odfather 𝐒cenario 𝐇appening 𝐈n 𝐒audi 𝐀rabia

Ben Shapiro: At least 17 princes and top officials arrested in Saudi Arabia. What’s going on there?

Infowars Exclusive! Reason Behind Royal Saudi Purge Revealed

Jim Phillips Explains What’s Happening in Saudi Arabia

Saudi Minister: Lebanon declared war on kingdom

Published on Nov 7, 2017
A senior Saudi minister has accused Lebanon of declaring war against the kingdom. The minister for Persian Gulf Affairs, Thamer al-Sabhan also accused the Lebanese resistance movement Hezbollah of committing acts of aggression and attacking the Saudi kingdom without further elaborations. He then urged the Lebanese government to realize the risks of Hezbollah actions. Al-Sabhan made the comments in reaction to criticism Riyadh has been facing over the resignation of Lebanese Prime Minister Saad al-Hariri. Hariri made the announcement in a statement broadcast on Saudi-owned al-Arabiya TV. On Sunday, Hezbollah chief Seyyed Hassan Nasrallah and other Lebanese officials accused Riyadh of forcing Hariri to quit in a bid to create tensions in Lebanon.

Saudi Arabia’s proxy war with Iran intensifies

Iran denies arming Yemenis with missiles

Is Lebanon on the brink of turmoil? – Inside Story

Published on Nov 5, 2017
Hariri’s resignation came as a surprise. The fact that he did it from Riyadh, accusing Iran and its Lebanese ally Hezbollah of sowing strife in the Arab world, sent shockwaves through the region. His resignation shatters a delicate deal that put him in a coalition government after a two-year political vacuum. It is not the first time a Lebanese government has collapsed- it happened in 2005, 2011 and 2013. The country’s political structure requires that the President must be a Maronite Christian, the Prime Minister a Sunni Muslim, and the Speaker of Parliament a Shia Muslim. Last year Lebanon’s parliament swore in a new cabinet dominated by Hezbollah and its allies – in a major victory for the Shia, Iran-backed group. Add to that, Hezbolllah’s military wing has been racking up victories in Syria, building up its arsenal, and steadily increasing its influence at home, and that’s upset some, including Saudi Arabia So, what’s next? And will Lebanon again become the battleground for other peoples’ wars?

Did the Saudis Force Lebanese PM to Resign?

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The Middle East Crisis in a nutshell

The Middle East’s cold war, explained

Saudi Arabia vs. Iran: The Sunni-Shiite Proxy Wars

Iranian proxy Hezbollah increasing influence over Lebanese politics and army

What the rising power of Hezbollah means for the Middle East

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10 Differences Between Shia and Sunni Muslims

The differences and similarities between Sunni and Shia Isalm

The Great Divide: Sunni vs. Shi’a – Full Episode

Foreign Policy Association
Published on Feb 29, 2016
From the conflicts in Iraq and Syria to the tension between Iran and Saudi Arabia, the struggle between Sunni and Shi‘a groups for hegemony is tearing apart the region and shows no signs of abating. But for all the religious discourse permeating the conflict, much of its roots are political, not religious. How does sectarianism fit into a larger narrative of the Middle East? How have governments manipulated sectarian differences? And finally, what is the U.S. doing about it? Full episode from the Great Decisions PBS series: http://www.greatdecisionsonpbs.com/ Visit our website for more information: http://www.fpa.org/ Narrated by Academy Award nominated actor David Strathairn and produced by the Foreign Policy Association, each half-hour episode of the Great Decisions documentary series tackles a different challenge facing America today. This episode first aired in January 2015.

Yemen War: A proxy war for Iran and Saudi Arabia | IN 60 SECONDS

Abdication of King Salman in Saudi Arabia

Lebanese Prime Minister Resigns Claiming His ‘Life Is In Danger’

Something Strange Is Going On In Saudi Arabia, Lebanon

Ben Shapiro: At least 17 princes and top officials arrested in Saudi Arabia. What’s going on there?

NYC terror attack sparks heated debate about Iran and Islam

Riyadh Attack: Houthis Fire Missiles at Saudi Arabia | Novermber 4th 2017 King Khalid Airport

Dozens of Saudi princes, businessmen arrested in anti-corruption bid

Saudi Arabia Arrests 11 Princes Including A Billionaire

Cabinet reshuffle, crackdown on corruption in latest Saudi purge

After shakeup, can Saudi Arabia’s crown prince deliver on promise of reform?

PBS NewsHour

Published on Nov 6, 2017

In the name of fighting corruption in Saudi Arabia, Crown Prince Mohammed Bin Salman announced over the weekend the government would hold trials for 11 princes, stamping out opposition and cementing his rule. Special correspondent Nick Schifrin is joined by Bilal Saab of the Middle East Institute and Aaron David Miller of the Wilson Center to discuss the potential fallout of the crackdown.

Saudi Arabia arrests 4 ministers and 11 princes

PBS NewsHour

Published on Nov 5, 2017

Saudi Arabia Crown Prince Mohammad bin Salman ordered the arrest of four government ministers and 11 royal princes hours after he was named the head of a new anti-corruption committee. Billionaire prince Alwaleed bin Talal, who has stakes in major U.S. companies like Apple and Twitter, was among those arrested. Gary Sick, a senior research scholar at Columbia University, joins Hari Sreenivasan.

Saudi Arabia intercepts Houthi-launched missile near Riyadh

Riyadh hysterical as Yemeni missile hits Saudi air base

Saudi Arabia attacked by Yemen missile in Riyadh intercepts ballistic missile

Saudi Arabia Missile: Air Force intercepts missile near Riyadh

Saudi prince killed in helicopter crash near Yemen border – BBC News

Published on Nov 6, 2017
A senior Saudi prince and seven other officials have been killed in a helicopter crash near the country’s border with Yemen, state media report. Prince Mansour bin Muqrin, the deputy governor of Asir province, was returning from an inspection tour when his aircraft came down near Abha late on Sunday, the interior ministry said. It did not give a cause for the crash. But it came hours after a major purge of the kingdom’s political and business leadership. An anti-corruption body led by Crown Prince Mohammed bin Salman, 32, ordered the detentions of dozens of people, including 11 princes, four ministers and dozens of ex-ministers. Analysts see the unprecedented move as an attempt to cement the power of the heir to the throne.

10 Minutes: Saudi Arabia’s New Crown Prince

Inside Saudi Arabia: On front line of war with Yemen – BBC News

The 18 Religions That Make Up Lebanon’s Government

Why Lebanon Is Fractured By The Conflicts In The Middle East

Saudi Arabia says Lebanon declares war, deepening crisis

People walk next to a poster depicting Lebanon’s Prime Minister Saad al-Hariri, who has resigned from his post, along a street in the mainly Sunni Beirut neighbourhood of Tariq al-Jadideh in Beirut, Lebanon November 6, 2017. REUTERS/Mohamed Azakir

Lebanon has been thrust to the center of regional rivalry between Saudi Arabia and Iran since the Saudi-allied Lebanese politician Saad al-Hariri quit as prime minister on Saturday, blaming Iran and Hezbollah in his resignation speech.

Saudi Gulf affairs minister Thamer al-Sabhan said the Lebanese government would “be dealt with as a government declaring war on Saudi Arabia” because of what he described as aggression by Hezbollah.

Faulting the Hariri-led administration for failing to take action against Hezbollah during a year in office, Sabhan said “there are those who will stop (Hezbollah) and make it return to the caves of South Lebanon”, the heartland of the Shi‘ite community.

In an interview with Al-Arabiya TV, he added: “Lebanese must all know these risks and work to fix matters before they reach the point of no return.”

He did not spell out what action Saudi Arabia might take against Lebanon, a country with a weak and heavily indebted state that is still rebuilding from its 1975-90 civil war and where one-in-four people is a Syrian refugee.

There was no immediate comment from the Lebanese government.

Hezbollah is both a military and a political organization that is represented in the Lebanese parliament and in the Hariri-led coalition government formed last year.

Its powerful guerrilla army is widely seen as stronger than the Lebanese army, and has played a major role in the war in neighboring Syria, another theater of Saudi-Iranian rivalry where Hezbollah has fought in support of the government.

Lebanese authorities said on Monday the country’s financial institutions could cope with Hariri’s resignation and the stability of the Lebanese pound was not at risk.

But the cash price of Lebanon’s U.S. dollar-denominated bonds fell, with longer-dated maturities suffering hefty losses as investors took a dim view of the medium- to longer-term outlook for Lebanon.

A poster depicting Lebanon’s Prime Minister Saad al-Hariri, who has resigned from his post, hangs along a street in the mainly Sunni Beirut neighbourhood of Tariq al-Jadideh in Beirut, Lebanon November 6, 2017. The Arabic on the poster reads, “With you forever”. REUTERS/Mohamed Azakir

HARIRI FREE TO TRAVEL, SAUDI FM SAYS

Hariri cited a plot to assassinate him during his unexpected resignation speech broadcast from Saudi Arabia which caught even his aides off guard. He also slammed Hezbollah and Iran, accusing them of sowing strife in the Arab world.

Hezbollah leader Sayyed Hassan Nasrallah has said he will not comment on Hariri’s speech, calling it a “Saudi statement” and saying Riyadh had forced Hariri to resign.

The sudden nature of Hariri’s resignation generated speculation in Lebanon that his family’s Saudi construction business had been caught up in an anti-corruption purge and he had been coerced into resigning.

Slideshow (3 Images)

Saudi Foreign Minister Adel Jubeir said it was “nonsense” to suggest Hariri had been coerced into quitting in a CNN interview on Monday. Hariri had quit because Hezbollah had been “calling the shots” in the government, he said. Hariri, a Saudi citizen, was free to leave the country at any time, he said.

Interior Minister Nohad Machnouk, a senior member of Hariri’s political party, said he was under the impression Hariri would return to Beirut within days.

A meeting between Saudi King Salman and Hariri in Riyadh on Monday proved “rumors” wrong, he said – an apparent reference to speculation that Hariri was detained or forced to quit.

Earlier on Monday, President Michel Aoun, a political ally of Hezbollah, appealed for national unity.

Parliament Speaker Nabih Berri, another political ally of Hezbollah, said in a televised statement after meeting Aoun it was too early to talk about forming a new government.

The crisis could re-aggravate tensions between Sunni and Shi‘ite Muslims and afflict Lebanese government with paralysis once again. All of the sides have called for calm and there has been no sign of unrest since Hariri’s resignation.

The Hariri-led government took office last year in a political deal that made Aoun president. The deal ended years of deadlock, and last month it produced Lebanon’s first budget since 2005.

Hariri flew to Saudi Arabia on Friday after meeting in Beirut the top adviser to Iran’s Supreme Leader, who described the coalition as “a victory” and “great success” afterwards.

https://www.reuters.com/article/us-saudi-missiles-yemen/saudi-led-forces-close-air-sea-and-land-access-to-yemen-idUSKBN1D60I8

Saudi Arabia Blames Iran for Missile Attack

Yemeni rebels’ missile intercepted near Riyadh was made in Iran, Saudis say; Iran denies involvement

Smoke from an alleged Saudi-led airstrike on the Yemeni capital, San'a, on Sunday.
Smoke from an alleged Saudi-led airstrike on the Yemeni capital, San’a, on Sunday. PHOTO: ARHAB/EPA-EFE/REX/SHUTTERSTOCK/EPA/SHUTTERSTOCK

Yemeni rebels’ missile attack on the Saudi capital on Saturday could be considered an Iranian act of war, Saudi Arabia said, in a statement likely to intensify tensions between the archrivals.

Saudi Arabia intercepted the ballistic missile east of Riyadh’s main airport after it flew more than 500 miles from Yemen. It was fired by Houthi rebels, who are seen by Saudi Arabia as proxies of Iran.

The Saudi-led military coalition that has been at war with the Houthis in Yemen for more than 2½ years “considers this a blatant act of military aggression by the Iranian regime and could rise to be considered as an act of war against the Kingdom of Saudi Arabia,” according to a statement carried by the official Saudi Press Agency.

Debris from the missile showed it was made in Iran, the statement said, adding that the coalition “reserves its right to respond to Iran in the appropriate time and manner, in accordance with international law and based on the right of self-defense.”

Maj. Gen. Mohammad Ali Jafari, the commander of Iran’s Islamic Revolutionary Guard Corps, dismissed the claim.

“We are not basically capable of transferring missiles to Yemen,” he said Sunday, according to the official Islamic Republic News Agency. Houthi missiles, he said, are homegrown.

Iran’s foreign ministry spokesman, Bahram Ghasemi, on Monday called Saudi accusations against Iran “unfair, irresponsible, destructive and provocative,” according to a state television news website. He advised the kingdom to stop its assault on Yemen to pave the way for peace talks.

Iranian Foreign Minister Javad Zarif tweeted that Saudi Arabia was bombing Yemen and killing thousands of innocent people and spreading famine.

The kingdom “is engaged in wars of aggression, regional bullying, destabilizing behavior and risky provocations,” he said. “It blames Iran for the consequences.”

Saudi foreign minister Adel al-Jubeir tweeted that Iranian intervention in the region was undermining security and repeated that Saudi Arabia had the right to respond.

The Houthis, who in the past have presented missiles as domestically sourced, have fired dozens at Saudi Arabia since the coalition began a campaign to oust them from Yemen’s capital, San’a, in 2015.

The range of some, like the “Volcano H2” the group fired Saturday, has increased markedly in 2017, putting significant Saudi population centers and energy infrastructure within range.

Saudi Arabia, which controls Yemeni airspace and oversees shipping traffic through its ports, said all land, sea and air borders with the country would be closed temporarily to address the missile threat, although humanitarian supplies would still be allowed in.

Tensions between Saudi Arabia, the leading Sunni Muslim power in the region, and Iran, its main Shiite rival, have risen in recent days. Lebanese Prime Minister Saad Hariri, a close Saudi ally, resigned Saturday, blaming Iran for destabilizing the region and saying his life was under threat.

Saudi Arabia has more aggressively confronted Iran under 32-year-old Crown Prince Mohammed bin Salman, who orchestrated Saudi involvement in Yemen.

 

https://www.wsj.com/articles/saudi-arabia-blames-iran-for-missile-attack-1509955160

Saudi Crackdown Targets Up to $800 Billion in Assets

Authorities detain more prominent businessmen, freeze bank accounts

Crown Prince Mohammed bin Salman, left, has said tackling corruption is necessary to overhaul Saudi Arabia’s oil-dependent economy.
Crown Prince Mohammed bin Salman, left, has said tackling corruption is necessary to overhaul Saudi Arabia’s oil-dependent economy.PHOTO: SAUDI PRESS AGENCY/REUTERS

The Saudi government is aiming to confiscate cash and other assets worth as much as $800 billion in its broadening crackdown on alleged corruption among the kingdom’s elite, according to people familiar with the matter.

Several prominent businessmen are among those who have been arrested in the days since Saudi authorities launched the crackdown on Saturday, by detaining more than 60 princes, officials and other prominent Saudis, according to those people and others.

The country’s central bank, the Saudi Arabian Monetary Authority, said late Tuesday that it has frozen the bank accounts of “persons of interest” and said the move is “in response to the Attorney General’s request pending the legal cases against them.”

The purge is the most extensive of the kingdom’s elite in recent history. Crown Prince Mohammed bin Salman, the son of King Salman, was named heir to the throne in Juneand has moved to consolidate power. He has said that tackling corruption at the highest level is necessary to overhaul what has long been an oil-dependent economy.

The crackdown could also help replenish state coffers. The government has said that assets accumulated through corruption will become state property, and people familiar with the matter say the government estimates the value of assets it can reclaim at up to 3 trillion Saudi riyal, or $800 billion.

“They reckon that they could get around 2 to 3 trillion riyals from these people. That’s the number they are talking about,” said a person close to the government.

Saudi Arabia’s Crown Prince: Three Things to Know
Saudi Arabia’s King Salman has appointed his son, Mohammed bin Salman, as crown prince, replacing his nephew, Mohammed bin Nayef, as first in line to the throne. WSJ’s Niki Blasina explains who he is, and what this means for the U.S., Saudi Arabia and the broader region. Photo: Getty Images. (Originally Published June 21, 2017)

Much of that money is abroad, which will complicate efforts to reclaim it, people familiar with the matter said. But even a portion of that amount could help Saudi Arabia’s finances. A prolonged period of low oil prices forced the government to borrow money on the international bond market and to draw extensively from the country’s foreign reserves, which dropped from $730 billion at their peak in 2014 to $487.6 billion in August, the latest available government data.

Who Has Been Promoted, Who Has Been Detained in Saudi Arabia

Under King Salman, many senior princes have been sidelined from power or detained, according to people familiar with the matter. Here are a few of the important moves.

King Abdulaziz Ibn Saud

The founder of modern Saudi Arabia, who ruled from 1932

to 1953

Detained

Promoted

Other direct descendant

LINE OF SUCCESSION

King Salman bin

Abdulaziz

King 2015-present

He is the sixth brother in a row to assume the throne. He became king in 2015 and in June appointed his own son, Prince Mohammed bin Salman, as his heir.

Prince Miteb bin Abdullah

Prince al-Waleed

bin Talal

Prince Mohammed bin Nayef

Crown Prince

Mohammed bin Salman

He is one of the world’s richest men. Through his firm Kingdom Holding Co., he has invested in Apple, Twitter, and Citigroup. He was detained on Nov. 4.

Previous head of the elite Saudi Arabian National Guard

Previous crown prince

The 32-year-old prince has ascended to a position of unrivaled power since his father became king, and oversees most key policy areas in the country, from the economy to defense. He is the architect of the ambitious plan to end the kingdom’s dependence on oil. As minister of defense, he launched Saudi Arabia’s war in Yemen. He became crown prince in June.

Prince Mohammed, a former powerful minister of interior, was removed from the position of crown prince in June and replaced by Prince Mohammed bin Salman, a younger cousin. His ouster faced some resistance within the royal family

He is the politically influential son of the previous monarch, King Abdullah. He was fired and detained on Nov. 4.

Prince Abdulaziz bin

Saud bin Nayef

New minister of interior

He was appointed as minister of interior in June. He belongs to the same branch of the royal family as Prince Mohammed bin Nayef, the ousted crown prince.

Note: not all descendants represented

Sources: Royal Embassy of Saudi Arabia; staff reports.

The arrests were ordered by a newly established anticorruption agency headed by Prince Mohammed.

The crown prince “needs cash to fund the government’s investment plans,” political risk advisory firm Eurasia Group said in a note on Monday. “It was becoming increasingly clear that additional revenue is needed to improve the economy’s performance. The government will also strike deals with businessmen and royals to avoid arrest, but only as part of a greater commitment to the local economy.”

Spokespeople for the Saudi government didn’t respond to requests for comment on Tuesday.

Saudi Arabia’s minister of commerce, Majid al Qasabi, on Tuesday sought to reassure the private sector that the corruption investigation wouldn’t interfere with normal business operations.

The procedures and investigations undertaken by the anticorruption agency won’t affect ongoing business or projects, he said.

Running LowSaudi Arabia is heavily dependent on oilexports, and government revenues havetaken a hit as crude prices have tumbled inrecent years.THE WALL STREET JOURNALSource: Saudi Arabian Monetary Authority
.trillion riyalsOil revenueOther revenue2006’08’10’12’14’160.000.250.500.751.001.251.50

In its statement on Tuesday, the Saudi central bank said that individual accounts had been frozen, not corporate accounts. “It is business as usual for both banks and corporates,” the central bank said.

The central bank sent a list of hundreds of names to lenders, asking them to freeze any accounts linked to them, according to people familiar with the matter.

“These are just the initial stages of either asset freezes or arrests. More people are expected to be impacted as the investigation unfolds,” said a Saudi official.

The government earlier this week vowed that it would arrest more people as part of the corruption investigation, which began around three years ago.

As a precautionary measure, authorities have banned a large number of people from traveling outside the country, among them hundreds of royals and people connected to those arrested, according to people familiar with the matter.

Prince al-Waleed bin Talal, a Saudi billionaire and founder of Kingdom Holding Co., spoke at a conference in Chicago in 2013.
Prince al-Waleed bin Talal, a Saudi billionaire and founder of Kingdom Holding Co., spoke at a conference in Chicago in 2013. PHOTO: DANIEL ACKER/BLOOMBERG NEWS

The government hasn’t officially named the people who were detained.

They include billionaire Prince al-Waleed bin Talal, one of the most widely known members of the Saudi royal family and a major investor in companies including Apple Inc., Twitter Inc. and Citigroup Inc. He faces allegations of money laundering, bribery and extortion, according to a senior Saudi official. A representative of Prince al-Waleed didn’t immediately respond to a request for comment.

According to people familiar with the investigation, those detained over the weekend also include Bakr bin Ladin, the chairman of the construction giant Saudi Binladin Group. A spokesman for Saudi Binladin didn’t respond to request for comment.

Saudi Binladin, the biggest construction firm in the Gulf region, flourished as one of the government’s preferred builders during the boom years in the oil-rich country, winning a high-profile contract to expand the grounds of the Great Mosque in Mecca, Islam’s holiest site. The people familiar with the investigation said Mr. bin Ladin faces allegations of bribery in connection with that project.

https://www.wsj.com/articles/saudi-arabia-expands-crackdown-on-elite-1510062385

A resignation, detentions and missiles: 24 hours that shook the Middle East

Trump voices ‘great confidence’ in Saudi Arabia amid royal purge

President Trump on Monday gave a vote of confidence to the leadership of Saudi Arabia amid a royal family purge that has rocked the Middle East.

“I have great confidence in King Salman and the Crown Prince of Saudi Arabia, they know exactly what they are doing,” Trump tweeted while traveling in Asia. “Some of those they are harshly treating have been ‘milking’ their country for years!”

The president appeared to lend his endorsement to this weekend’s arrests of 11 members of the Saudi royal family, which authorities there described as a crackdown against corruption.

The mass arrests amounted to the most sweeping purge of the Saudi ruling elite in the country’s modern history. Advisers, ministers and businessmen were also taken into custody on orders from a newly formed anti-corruption committee.

Regional observers see the round-up as one of the most dramatic moves yet by Crown Prince Mohammad bin Salman to consolidate power.

The crown prince, 32, has taken over several key government posts over the past two years while pushing aside rivals as he seeks to position himself as the next leader of the oil-rich kingdom.

He also heads the anti-corruption panel.

Among those arrested were Prince Mutaib bin Abdullah, a son of the late King Abdullah and head of the National Guard, and the kingdom’s wealthiest investor, Prince Alwaleed bin Talal.

Mohammad bin Salman has pushed the hidebound kingdom to implement reforms while cozying up to the U.S., a top Saudi ally.

The crown prince, who is a son of King Salman, has also formed a relationship with President Trump’s son-in-law, Jared Kushner.

Kushner made an unannounced visit to Saudi Arabia last month, where U.S. officials said he intended to discuss Middle East peace.

Saudi Arabia was the site of Trump’s first trip abroad as president, a visit Mohammad bin Salman was said to have helped arrange.

Trump also has ties to bin Talal, who helped bail him out of financial trouble in the 1990s. The investor was part of a group that purchased New York’s Plaza Hotel from Trump as well as the real-estate mogul’s yacht.

No one should ever have to negotiate between getting lifesaving care or accessing their prescriptions.

Their relationship took a turn for the worse in 2015, when bin Talal bashedTrump’s campaign rhetoric and called on him to drop out of the presidential race.

“Dopey Prince @Alwaleed_Talal wants to control our U.S. politicians with daddy’s money,” Trump responded on Twitter. “Can’t do it when I get elected. #Trump2016”

http://thehill.com/homenews/administration/359036-trump-voices-great-confidence-in-saudi-arabia-amid-royal-purge

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The Pronk Pops Show 993, November 1, 2017, Story 1: Update of Radical Islamic Terrorist Jihadist Attack in New York City — President Trump “Send Him To Gitmo” as Enemy Combatant and Get Rid of Chain Migration and Diversity Lottery Immigration Program and Replace With Merit Based System of Immigration — Videos — Breaking — Story 2: Trump Expected To Name Jerome Powell As Next Federal Reserve Chairman Replacing Chair Janet Yellen — A Dove or Continuation of Interventionist Easy Monetary Policy — Better Choice Was John Taylor — Taylor For Fed Chair and Powell for Vice Chair — Videos

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Image result for sayfullo saipov age 29 uzbekImage result for president trump send terroritst to gitmo

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Image result for cartoons trump on 20 trillion dollars national debt

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Story 1: Update of Radical Islamic Terrorist Jihadist Attack in New York City — President Trump “Send Him To Gitmo” and Get Rid of Chain Migration and Diversity Lottery Immigration and Replace With Merit Base System — Videos — 

Image result for Diversity Lottery immigration program

Image result for Diversity Lottery immigration program

Passport to terrorism – Jason Chaffetz on the NY terrorist attack – 11/1/17 – Fox & Friends

New York truck attack: Trump calls for end of green card lottery – BBC News

President Donald Trump: Starting The Process Of Terminating The Diversity Lottery Program | CNBC

Schumer to Trump: Stop dividing, politicizing

What we know about the suspect in deadly NYC attack

Suspect In NYC Terror Attack That Killed 8 Victims Shot, In Custody

President Trump’s EXPLOSIVE Response to NY Truck Attack: “Send Him to Gitmo!” 11/1/17

The Diversity VISA Program Should Be GUTTED!!” Hannity and Mark Levin Speak TRUTH on Immigration

“The Diversity Lottery is COMPLETELY INSANE!” Ann Coulter REACTS to NYC

Robert Mueller’s Witch Hunt – Mark Levin – Hannity

“Allahu Akbar!” #NYC #Terror and #Uzbek Sayfullo Saipov — Lionel on “Real News With David Knight”

We Should Televise Sayfullo Saipov Explaining Why He Killed 8 to Show America What Evil Looks Like

 

Uzbek terrorist appears shackled in court in a wheelchair after it emerges he had thousands of ISIS videos on his phone, asked to fly terror flag in his hospital room and chose Halloween because he thought more people would be on the streets

  • Sayfullo Saipov, 29, was charged Wednesday with providing material support to a terrorist group and committing violence and destruction of motor vehicles 
  • He did not enter a plea and judge ordered him to be held in federal jail 
  • Uzbek national will appear again in federal court on November 15 
  • Saipov killed eight and injured 12 by mowing down people with a rented pick-up truck on the Hudson River bike path in lower Manhattan Tuesday afternoon 
  • According to a criminal complaint, Saipov admitted that he was inspired by ISIS
  • Saipov asked federal agents to hang an ISIS flag in his hospital room and said he ‘felt good about what he had done’ 
  • Investigators found thousands of ISIS-related materials on Saipov’s computer
  • About 90 ISIS-related videos were also found on Saipov’s cell phone    
  • He was interviewed by federal agents in 2015 as a possible associate of two suspected terrorists, but a case file was never opened on him 

New details are emerging about Sayfullo Saipov (left and right) who mowed down more than a dozen innocent people on a New York City bike path on Tuesday

New details are emerging about Sayfullo Saipov (left and right) who mowed down more than a dozen innocent people on a New York City bike path on Tuesday

The Muslim immigrant from Uzbekistan accused of carrying out Tuesday’s terror attack in Manhattan entered court Wednesday evening in a wheelchair, handcuffed and with his feet shackled, to face terrorism charges filed against him by the U.S. Attorney for the Southern District of New York.

Sayfullo Saipov, 29, wore a gray shirt and was surrounded by five guards while in his wheelchair inside a New York federal courthouse after he was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles.

His lawyers said Wednesday they were not seeking bail and a judge ordered him to be held in federal jail.

Saipov did not enter a plea to terrorism charges and a judge set his next court date for November 15.

Authorities say the Uzbek national watched ISIS videos on his cellphone and picked Halloween for the attack on a bike lane in lower Manhattan because he knew more people would be out on the streets.

Prosecutors said in court papers that Saipov asked to display the ISIS flag in his hospital room where he was recovering from being shot in the stomach by police ending the attack.

Saipov ‘stated that he felt good about what he had done,’ according to court papers.

The 29-year-old left behind knives and a note, handwritten in Arabic, that included Islamic religious references and said ‘it will endure’ — a phrase that commonly refers to ISIS, FBI agent Amber Tyree said in court papers.

The Muslim immigrant from Uzbekistan (above in court sketches) accused of carrying on Tuesday's terror attack in Manhattan entered court Wednesday evening in a wheelchair, handcuffed and with his feet shackled, to face terrorism charges filed against him by the U.S. Attorney for the Southern District of New York

The Muslim immigrant from Uzbekistan (above in court sketches) accused of carrying on Tuesday’s terror attack in Manhattan entered court Wednesday evening in a wheelchair, handcuffed and with his feet shackled, to face terrorism charges filed against him by the U.S. Attorney for the Southern District of New York

Saipov, 29, wore a gray shirt and was surrounded by five guards while in his wheelchair inside a New York federal courthouse after he was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles

His lawyers said Wednesday they were not seeking bail and a judge ordered him to be held in federal jail. Saipov did not enter a plea to terrorism charges and a judge set his next court date for November 15

Questioned in his hospital bed, Saipov said he had been inspired by ISIS videos and began plotting an attack about a year ago, deciding to use a truck about two months ago, Tyree said. Saipov even rented a truck on October 22 to practice making turns, Tyree said.

John Miller, deputy New York police commissioner for intelligence, said Saipov ‘appears to have followed, almost exactly to a T, the instructions that ISIS has put out.’ 

In the past few years, the Islamic State has exhorted followers online to use vehicles, knives or other close-at-hand means of killing people in their home countries. England, France and Germany have all seen deadly vehicle attacks since mid-2016.

A November 2016 issue of the group’s online magazine detailed features that an attack truck or van should have, suggested renting such a vehicle and recommended targeting crowded streets and outdoor gatherings, according to the SITE Intelligence Group, a militant-monitoring agency.

Saipov told authorities, according to the compliant, he chose Halloween for the attack because he thought there would be more civilians nearby.

Carlos Batista, a neighbor of Saipov’s in Paterson, New Jersey, said he had seen the suspect and two friends using the same model of rented truck several times in the past three weeks.

Overnight, FBI investigators raided Saipov's Paterson, New Jersey apartment, where he lives with his wife and three kids, the youngest of whom is three months old

Overnight, FBI investigators raided Saipov’s Paterson, New Jersey apartment, where he lives with his wife and three kids, the youngest of whom is three months old

It's unclear how long Saipov has lived at the address in New Jersey, he seemed to float between Ohio, Florida and New Jersey

A member of the media knocks on the door next to Saipov's apartment on Wednesday

An FBI investigator carries a bag of evidence away from Saipov's home on Wednesday 

An FBI investigator carries a bag of evidence away from Saipov’s home on Wednesday

Trump tweeted Wednesday night that he spoke with the president of Argentina about the five victims who died in the attack on Tuesday

Trump tweeted Wednesday night that he spoke with the president of Argentina about the five victims who died in the attack on Tuesday

He also tweeted that the US 'will be immediately implementing much tougher Extreme Vetting Procedures'

He also tweeted that the US ‘will be immediately implementing much tougher Extreme Vetting Procedures’

New York Gov. Andrew Cuomo told CNN on Wednesday that Saipov ‘radicalized domestically’ after moving to America seven years ago, where he had worked as a commercial truck driver and Uber driver.

Reports say that Saipov attended a ‘suspicious’ New Jersey mosque.

Saipov married in 2013 and has since fathered three children – the youngest of whom is three months old. Overnight, FBI agents raided the couple’s Paterson, New Jersey home.

On October 28, Saipov was spotted on the George Washington Bridge, the crossing at the far northern tip of the island between New Jersey and New York.

That same day, his EZ-pass recorded him driving through the Holland Tunnel (which also links New Jersey and New York) twice. The Holland Tunnel is located in lower Manhattan, near where Saipov started his rampage on Tuesday.

Prosecutors released the criminal complaint (above) against Saipov on Wednesday afternoon which describes the charges he's been hit with for Tuesday's deadly attack

Prosecutors released the criminal complaint (above) against Saipov on Wednesday afternoon which describes the charges he’s been hit with for Tuesday’s deadly attack

Saipov was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles

Saipov was charged with providing material support to a terrorist group and committing violence and destruction of motor vehicles

The documents also provide details into the background on ISIS as a foreign terrorist organization 

The documents also provide details into the background on ISIS as a foreign terrorist organization

The documents say ISIS has 'disseminated a wide variety of recruiting materials and propaganda through social media'

The suspect seemingly lived a quiet life prior to moving to the U.S.

He had spent most of his life living in a single apartment with his parents and three younger sisters in Tashkent, the capital of Uzbekistan, Radio Free Europe (RFE) reports.

Two neighbors back in Tashkent told RFE that the Saipov family were ‘very secular’ and ‘ordinary Uzbeks who don’t stand out in any particular respect’.

‘His parents are far from religion,’ one of them said, ‘They don’t even pray.’

Saipov’s father, 52-year-old Habibullo, and mother, 50-year-old Muqaddas, run a small clothing stand in their local bazaar, and are relatively well off in their country, owning their own car and home.

The complaint details the deadly attack on Tuesday afternoon in lower Manhattan and also what was found inside the rented Home Depot truck. One of those items was a  document that contained Arabic and English text

The complaint also shows a photo showing Saipov at the Home Depot in Passaic, New Jersey renting the truck used in the horrific attack

Saipov was read his Miranda Rights while in the hospital after being shot by an NYPD officer. He waived those rights and began speaking to investigators about what he admitted to doing, according to the complaint

The Uzbek national also said that he was inspired to carry out the attack by ISIS videos he had watched on his cell phone, according to the complaint

The Uzbek national also said that he was inspired to carry out the attack by ISIS videos he had watched on his cell phone, according to the complaint

Authorities say one of the cellphones found in Saipov's possession contained 90 videos of ISIS-related propaganda 

Authorities say one of the cellphones found in Saipov’s possession contained 90 videos of ISIS-related propaganda

At the age of 22, Saipov moved alone to the U.S. after winning a greencard through the Diversity Visa Lottery.

But a police source in Tashkent told RFE that Saipov lived for a time in Osh, Kyrgyzstan – a city that saw violent ethnic clashes in 1990 and 2010 – before immigrating to the U.S. (DailyMail.com learned that Saipov has close links to Osh, according to Ruslan Leviev, head of the Conflict Intelligence Team, an anti-Kremlin social media monitoring group. He has social media links to friends in the city, also the home of Akbarjon Djalilov, who bombed the St Petersburg metro last year.)

When he first moved to the U.S., acquaintances said that he did not appear to be a ‘religious person’. Several years later though, they say he became ‘aggressive’ and started expressing ‘very radical views,’ according to sources who spoke to RFE.

Since immigrating, Saipov has lived in multiple states – with addresses in Ohio, Florida and New Jersey. There’s some confusion about where Saipov lived when, and for how long, since it appears he moved around frequently.

It’s possible that Saipov, working as a trucker, split his time between the three states.

Saipov's mosque in Paterson, New Jersey has been under NYPD surveillance since 2005 (pictured above on Wednesday)

Saipov’s mosque in Paterson, New Jersey has been under NYPD surveillance since 2005 (pictured above on Wednesday)

While NBC News reported that Saipov got his commercial driver’s license in New Jersey in 2010, and later had it transferred to Florida, sources in Ohio say he lived there right after immigrating.

Dilnoza Abdusamatova, 24, told the Washington Post that Saipov stayed with her family in Cincinnati for his first two weeks in the country because their fathers were friends.

‘He always used to work,’ Dilnoza said told the Cincinnati Enquirer. ‘He wouldn’t go to parties or anything. He only used to come home and rest and leave and go back to work.’

She said that he cut off contact with them about a year later, when he got married and moved to Florida to work as a truck driver.

Records show that Saipov married fellow-Uzbek Nozima Odilova in Ohio in 2013. She was 19 years old at the time.

Pictured above is Saipov's former apartment building in Tampa, Florida. He also had an address in Fort Myers

TIMELINE OF THE MASSACRE

2:06pm

Saipov rents a truck from the Home Depot in Passaic, New Jersey.

2:43pm

Cameras on the George Washington Bridge show Saipov crossing into New York City.

3:04pm

Cameras outside the Holland Tunnel show Saipov entering the bike lane at West Street and Houston Street at a high rate of speed.

Saipov targets bicyclists and pedestrians in the south-bound lane. Eventually, crashing into a school bus at Chambers Street, where gets out and continues to terrorize bystanders.

3:08pm

Police receive more than a dozen 911 calls of a truck driver targeting bystanders in the bike lane, crashing into a school bus and getting out waiving a gun.

Two officers who were nearby at Stuyvesant High school for an unrelated call respond to the scene and notice Saipov walking around waiving a gun.

Officer Bryan Nash, a 28-year-old who has been on the force for five years, shoots Saipov in the abdomen, bringing the rampage to an end.

While Dilnoza says that Saipov started his trucking business in Florida, recrods show he actually started both of them in Ohio – going so far as to use her family’s home address for registration.

In 2011, he started Sayf Motors in Hamilton County, Ohio.

Two years later, he started another company in Cuyahoga Falls, Ohio –  Bright Auto LLC.

Bright Auto LLC is an active carrier registered with the U.S. Department of Transportation. Records show that the trucking company has one truck and one driver. The company said it could not confirm if the suspect had rented the vehicle, but they are cooperating with police.

One fellow Uzbek driver said that Saipov ran into issues working as a truck driver and was a mean-spirited person.

Mirrakhmat Muminov, 38, of Stow, Ohio, portrayed Saipov as an argumentative young man whose work was falling apart and who ‘was not happy with his life.’

Muminov said Saipov lost his insurance on his truck after his rates shot up because of a few traffic tickets, and companies stopped hiring him. Muminov said he heard from Saipov’s friends that Saipov’s truck engine blew up a few months ago in New Jersey.

He also said Saipov would get into arguments with his friends and family, tangling over even small things, such as going to a picnic with the Uzbek community.

‘He had the habit of disagreeing with everybody,’ Muminov said.

The above graphic shows how Saipov drove off the West Side Highway and onto the Hudson River bike path on Tuesday 

Kobiljon Matkarov, 37, said that he met Saipov in Florida about five years ago and they bonded over their shared Uzbek heritage.

‘He is very good guy, he is very friendly… he is like little brother… he look at me like big brother,’ he told The New York Post.

Matkarov says Saipov even invited him to his wedding in Ohio, but he couldn’t attend.

Matkarov visited New York City recently and said that Saipov drove his family to JFK airport as they were leaving.

Saipov was very friendly, he said, and good with children: ‘My kids like him too, he is always playing with them. He is playing all the time,’ he said – but added that when one of the children asked to take a photo with him, Saipov refused. ‘He no like that. He said no,’ Matkarov said.

Matkarov said he was shocked by the claim that his friend had murdered and injured more than a dozen people, and that he didn’t know of any terrorist connections he may have had.

Matkarov said he knew his friend had been working for Uber in New Jersey, a fact that the ride-sharing company has confirmed.

Uber said in a statement on Tuesday night: ‘We are horrified by this senseless of violence. Our hearts are with the victims and their families. We have reached out to law enforcement to provide our full assistance.’

The company said that he had passed a background check by the company and that they are now ‘aggressively’ reviewing his history with them, although they had not yet found any ‘concerning safety reports.’

The company added that he has been banned from the app.

People who know Saipov's parents back in Uzbekistan say the family is not religious. Saipov seen above moments after mowing down more than a dozen people on a bike path

Saipov is reportedly seen here holding his two fake guns after climbing out of the Home Depot truck. He ran about a block south of the crash before being shot. Records indicate he worked as an Uber driver and a commercial truck driver 

 
Saipov appears to have lived in both Fort Myers and Tampa, Florida. And though he had been living in New Jersey when he was arrested on Tuesday, he had a Florida driver’s license on him.

Neighbors at Saipov’s Tampa apartment complex told the Daily Beast that Saipov lived in a modest apartment with his wife, kids and an older woman who appeared to be his mother or mother in law.

They said he was often on the road for two weeks at a time because of his job. They said the family also left every summer. The last time they left, the family told neighbors that they were moving to New Jersey because Saipov’s job had been transferred.

Neighbor Melissa Matthews says the women of the household wore head scarves and were cold to her.

‘Most people you say hello to and they say hello back, but they didn’t,’ Matthews said.

But neighbor Kyong Eagan had fonder memories of Saipov.

She says that the terror suspect treated her like royalty, bringing her food, large cases of water and orange juice and household appliances his family no longer needed.

‘He always treated me like I was his mother,’ Eagan said. ‘He was kind of a nice neighbor. A real nice neighbor to have.’

Eagan said Saipov, who she described as soft-spoken, brought her home-cooked meals because he wanted her to learn about his culture.

‘I just can’t believe it at all. He was just so genuine. I’m just so shocked,’ she said.

Other Tampa neighbors said he should ‘fry’ for his killing spree.

Gloria Bailey, 71, learnt she was living in the alleged mass killer’s former apartment when the FBI knocked on her door Tuesday and a helicopter circled overhead.

‘If he did what they say he did, they need to fry him. If he took innocent lives they need to burn him. Locking him up isn’t good enough,’ she told DailyMail.com.

The grandmother of seven moved into the rented $48,000 condo 11 months ago and found the two-bedroom property clean and tidy when she arrived.

‘I’ve never seen the guy, I don’t know what was going on. I just know that he was living in my apartment previously because the management told me,’ she added.

‘All I do is go to work and go to church. But now I feel nervous, I feel scared. I know America is the land of opportunity but they need to do more screening than they do.

‘People are killing each other all over the world and they can all come here.’

Residents living at the Heritage At Tampa housing complex said they barely remembered Saipov who is believed to have lived there in 2015 when his driver’s license was registered to the address.

A statement issued by the property’s management company confirmed he was a former tenant but directed all questions to law enforcement.

Tatiana Colarte, 19, who used to walk her dog past Saipov’s former ground apartment every morning, said: ‘It’s so scary.

‘As soon as I saw a picture I recognized it was him. I can’t believe the man who carried out that act lived so close to me.’

Police probed an apartment complex address in Fort Myers, Florida on Tuesday night where terror suspect Saipov lived from 2010 to 2011.

Uniformed officers from the Fort Myers Police Department as well as unidentified plain clothed agents were seen entering a second floor condo and speaking to the current occupants, a couple with young children.

A police car was stationed outside the rented two-bed, $50,000 property on the Gulfstream Isles housing complex but law enforcement had left by Wednesday morning.

Neighbors told DailyMail.com they had no idea who Saipov was before they saw his face on the news and couldn’t remember him living there.

This is the rented Home Depot truck that plowed through cyclists and runners on the bicycle path. It only stopped when Saipov allegedly deliberately struck a schoolbus at an intersection

This is the rented Home Depot truck that plowed through cyclists and runners on the bicycle path. It only stopped when Saipov allegedly deliberately struck a schoolbus at an intersection

The side of the bus crumpled in, collapsing onto the chairs - and children - inside. Two children and two adults were hospitalized after the crash. One of the children was in critical condition

The side of the bus crumpled in, collapsing onto the chairs – and children – inside. Two children and two adults were hospitalized after the crash. One of the children was in critical condition

Shattered bicycles are seen here on the West Side Highway bike path where eight people were killed and at least 12 more injured. At least five of those who were killed had rented Citibikes before they were hit

Shattered bicycles are seen here on the West Side Highway bike path where eight people were killed and at least 12 more injured. At least five of those who were killed had rented Citibikes before they were hit

A vehicle is surrounded by a police perimeter in the parking lot of a Home Depot store in Passaic, New Jersey where authorities believe Saipov rented the truck used in the attack

A vehicle is surrounded by a police perimeter in the parking lot of a Home Depot store in Passaic, New Jersey where authorities believe Saipov rented the truck used in the attack

TERRORIST’S ACTIVITIES SINCE MOVING TO THE U.S.

March 2010: Immigrates to the U.S. from Uzbekistan. Stays with the Abdusamatov family in a Cincinnati suburb for his first two weeks.

April 2011: Gets a traffic violation in Hartford County, Maryland and lists an address in Fort Myers, Florida

May 2011: Starts Sayf Motors Inc., registering the business to the Abdumastov’s home address

April 12, 2013: Marries Nozima Odilova in Ohio

August 2012: Gets a ticket in Pennsylvania and lists a Paterson, New Jersey address

Sometime in 2012: Meets friend Kobiljon Matkarov in Florida, is allegedly living there at the time. Matkarov says Saipov lived in Fort Myers until 2014

August 2013: Starts Bright Auto LLC in Cuyahoga Falls, Ohio

March 2015: Gets ticket in Pennsylvania and gives officers a Paterson, New Jersey address

April 2016: Gets a traffic violation in Missouri and gives cops an address for Tampa, Florida

Late 2016 – Early 2017: Saipov’s mother visits him for about two months

Around April 2017: Starts working for Uber in NJ

September 2017: Saipov tells a friend that he’s thinking of moving back to Uzbekistan

In August 2012, he was pulled over in Palmyra, Pennsylvania and gave cops a Paterson, New Jersey address. He gave cops a Paterson address again in March 2015, when he was pulled over in Mount Holly Springs Borough, Pennsylvania.

The manager of Saipov’s local grocery store in Paterson, Farm Boy Super Fresh Supermarket on Getty Avenue, had a poor opinion of the man.

She claims that Saipov was an ‘erratic’ customer who berated the cashiers, the New York Post reported.

‘Every time he came here he was always erratic or arguing with the cashiers,’ the manager, who did not want to provide her name, said.

‘He would get angry very fast…. he would break the cans, dumb things,’ she said, adding that he was known for his rude behavior.

‘I feel like he was prejudiced to the cashiers – whether they were covered or not in a hijab – he would belittle them,’ she told The Post.

‘He was talking good English, proper, but he would call the cashiers dumb, uneducated – how they didn’t know how to scan the items.’

She also said that Saipov  argued often about the price of Canada Dry Ginger Ale.

‘Soda was the problem. He would come here and buy soda,’ she said. ‘He would give us a hard time on the 12-pack Canada Dry – if it was one price he would want his own price. It was always the soda, always a problem with the 12-pack of cans. Always a problem.’

One neighbor, 64-year-old Slavo Petrov, says he often sees Saipov going to mosque with his wife and kids, but he ‘never says good morning and never says good afternoon’.

Investigators work around the wreckage of the Home Depot pickup truck a day after the massacre

Investigators work around the wreckage of the Home Depot pickup truck a day after the massacre

Crime scene covered the scene, located in a usually bustling area of Manhattan 

Crime scene covered the scene, located in a usually bustling area of Manhattan

A large portion of the West Side Highway remained shut down on Wednesday so that officials could continue to investigate 

A large portion of the West Side Highway remained shut down on Wednesday so that officials could continue to investigate

It has since been revealed that Saipov’s mosque was also under surveillance by the NYPD.

According to NorthJersey.com, the NYPD has been studying the Omar Mosque in Paterson, near Saipov’s home,  as a possible location for ‘budding terrorist conspiracies’.

It doesn’t appear that criminal activity has been linked to the mosque but the report says it ‘is believed to have been the subject of federal investigations’.

ABC News also reports that Saipov was interviewed by federal agents two years ago about his alleged ties to two suspected terrorists.

Law enforcement sources told ABC that Saipov was interviewed as a potential ‘point of contact’ for two different men who were entered into the Counter-terrorism and Criminal Exploitation Unit’s list when they came to the U.S. from ‘threat countries’.

One of those men has since vanished and federal authorities are actively searching for him. The other is described as a ‘suspected terrorist’.

Saipov was never the center of any investigation, and his interviews with federal authorities did not raise suspicions enough for the FBI to start a case file on him.

Saipov also has a minor criminal record for traffic offenses in Missouri, Pennsylvania and Maryland.

He was pulled over in Maryland in 2011 and gave cops an address in Fort Myers, Florida.

In 2012 and 2015, he was pulled over twice in Pennsylvania and each time gave an address in Paterson, New Jersey

 His most recent traffic violation appears to have happened in April 2016, when he got a traffic violation in Missouri and said he was living in Tampa.

Each time he was cited for a traffic violation, Saipov pleaded guilty and paid a fine.

New York City Police Commissioner James O'Neill (center) stands with New York Governor Andrew Cuomo and (left) and Mayor Bill de Blasio during a news conference about the attack on Wednesday

New York City Police Commissioner James O’Neill (center) stands with New York Governor Andrew Cuomo and (left) and Mayor Bill de Blasio during a news conference about the attack on Wednesday

VICTIMS OF THE BIKE PATH TERROR ATTACK

Darren Drake, 32
Darren Drake, 32

Drake from New Milford, New Jersey, was taking a 15-minute afternoon break from his job at Moody’s Analytics nearby when he was struck.

His father said he had recently undergone weight loss surgery and cycled his bike to stay fit.

Drake’s grieving parents told The New York Post he that he had recently purchased a Citibike membership in a bid to lose weight.

They said he was ‘so smart’ and suggested that he may have been listening to an audio book when he was hit which they said they hoped meant he did not see the truck coming.

Nicholas Cleves, 23

Nicholas Cleves, 23 

Cleves is a resident of New York. He was identified along with Drake by the NYPD on Wednesday afternoon.

Cleves, 23, is a high school graduate and recently completed a degree in computer science from Skidmore College in Saratoga Springs.

He lived in Greenwich Street, near to where the truck began its rampage on the West Side Highway at Houston Street.

Shopkeepers in the area said Cleves was ‘warm’ and a ‘good person’. It is not clear if he was cycling or walking when he was hit.

Belgian tourist Ann-Laure Decadt, 31, 

Belgian tourist Ann-Laure Decadt, 31,

Mother-of-two Decadt was in New York with her two sisters and mother and was hit from behind as she traveled south on the bike path.

She died in New York Presbyterian Hospital after being rushed from the scene.

Her husband said she was a ‘wonderful’ mother to two young boys aged two and three-months.

He was notified that she had died in a phone call from hospital staff on Tuesday evening.

The woman’s mother and two sisters were not injured.

Five Argentinian friends visiting New York

Five men from a group of nine Argentinians who were in New York celebrating their 30th school reunion were killed.

The men were all on Citibikes and were struck cycling south along the path.

They are Hernan Diego Mendoza-Espino, 47,  Alegandro Damian Mendoza-Espino, 47,  Herman Ferruchi, 47, Diego Enrique, 47 and Ariel Erlis, 48.  

Five members of this group of Argentinian friends were also killed. They are Hernán Diego Mendoza (far left), Alejandro Damián Pagnucco (second from left), Ariel Erlij (third from left), Diego Enrique Angelini (second from right) and Hernán Ferruchi (third from right). A sixth friend, Martin Ludovico Marro (not pictured), was injured

 About an hour before the attack on Tuesday, Saipov rented a pick-up truck from a Home Depot in Passaic, New Jersey. He then drove the truck into the city over the George Washington Bridge, at the very northern tip of Manhattan, and made his way all the way down to lower Manhattan.

He crossed onto the Hudson River bike path at Houston Street, and then sped down the path nearly a mile – killing eight and injuring 12 while allegedly shouting ‘Allahu Akbar’.

He then waved a paintball gun in one hand and a pellet gun in the other, and was shot in the abdomen by a police officer.

Overnight FBI investigators searched through Saipov’s apartment in Paterson, and the white minivan he left behind at the Home Depot parking lot.

Investigators are also collecting video and pictures from the scene of the attack.

In addition to interviewing Saipov, investigators are also talking to his wife and are planning to track down his other contacts. A source told RFE that authorities in Uzbekistan interviewed Saipov’s mother, father and 17-year-old sister on Wednesday.

A makeshift memorial stands on a bike path in lower Manhattan on Wednesday where the terror attack was carrier out a day before 
 A makeshift memorial stands on a bike path in lower Manhattan on Wednesday where the terror attack was carrier out a day before

Five of the dead were part of a group from Argentina who were celebrating the 30-year anniversary of their high school graduation. Another victim was from Belgium and the other two were American. Two of the injured were staff members on a bus transporting children that Saipov slammed into at the end of his rampage.

Six people died at the scene and two more died at the hospital. Of the 12 others that were hospitalized, three have since been released. Four of the nine still hospitalized were in critical condition but are now stable. The rest are in serious condition.  The injuries ranged from a bilateral amputation to serious head and neck injuries, back trauma and trauma to the arms and legs.

Both New York City Mayor Bill de Blasio and New York Gov. Andrew Cuomo spoke at the Wednesday press conference.

‘This was an attack on the United States of America, an attack on New York City, an attack on our people,’ de Blasio said.

‘It was the definition of terror – an effort to take away people’s hopes and spirit and make them change.

‘And what New York has showed already is that we will not be changed. We will now be cowed, we will not be thrown off by anything,’ he added.

During the question and answer portion of the press conference, Cuomo criticized President Trump’s ‘politicization’ of the tragedy.

The aftermath took a political turn Wednesday when Trump said Saipov came to the U.S. under a visa lottery program — ‘a Chuck Schumer beauty,’ Trump called it in a reference to the Senate’s top Democrat.

Cuomo said it was not the time for such remarks – which he called ‘not helpful’ and ‘not factual’.

WHAT IS THE DIVERSITY VISA LOTTERY PROGRAM?

President Donald Trump pitted part of the blame for the latest New York City terror attack on one of the state’s senators, Chuck Schumer.

The terror suspect, 29-year-old Sayfullo Saipov, came to the U.S. in March 2010 from Uzbekistan, after winning a greencard through the Diversity Visa Lottery Program.

The program was enacted into law under the first President Bush in 1990, as part of a bi-partisan effort on immigration reform. The original bill was authored by Sen. Ted Kennedy, and Schumer was a co-sponsor of the bill.

The lottery is meant to benefit immigrants from under-represented ethnic groups, and was originally designed with the Irish in mind. As the years have gone by, the winners of the lottery have gotten more diverse, just like the name of the program. In 2015, nearly half the winners were African.

President Donald Trump complained Wednesday morning on Twitter that the terrorist who killed eight people Tuesday in New York entered the U.S. through a program that uses a lottery to award immigration visas
 President Donald Trump complained Wednesday morning on Twitter that the terrorist who killed eight people Tuesday in New York entered the U.S. through a program that uses a lottery to award immigration visas
The program, which awards visas mainly to people from countries that are under-represented in the U.S., was originally introduced by Sen. Chuck Schumer when he was a member of the House of Representatives

The program, which awards visas mainly to people from countries that are under-represented in the U.S., was originally introduced by Sen. Chuck Schumer when he was a member of the House of Representatives

Trump has argued for a 'merit-based' immigration system since at least March

Trump has argued for a ‘merit-based’ immigration system since at least March

Applicants who enter must have the equivalent of a high school degree and two years of work experience.

As many as 15 million prospective immigrants enter the lottery every year, but only 55,000 visas are awarded – 5.5 per cent of the about 1million who move to the U.S. every year.

The program is different from more traditional means of immigration.

Many people secure visas to move to the U.S. because they have desireable degrees, are going to study at a school or work for a specific employer. And of course there are those who secure visas through marriage.

In his comments on Wednesday, Trump blamed Schumer for the policy and said he wants all U.S. immigration to be merit-based (i.e. prospective immigrants must prove that they have something to offer).

‘The terrorist came into our country through what is called the ‘Diversity Visa Lottery Program,’ a Chuck Schumer beauty. I want merit based [immigration].

‘We are fighting hard for Merit Based immigration, no more Democrat Lottery Systems. We must get MUCH tougher (and smarter),’ the president tweeted.

Senate Minority Leader Chuck Schumer originally introduced the diversity visa program to an immigration bill in 1990 when he served in the House of Representatives

Senate Minority Leader Chuck Schumer originally introduced the diversity visa program to an immigration bill in 1990 when he served in the House of Representatives

Chuck Schumer fired back on Twitter, accusing President Trump of being eager to 'politicize a tragedy'

Chuck Schumer fired back on Twitter, accusing President Trump of being eager to ‘politicize a tragedy’

Later in the day, he held a press conference and promised to eradicate the program.

‘I am today starting the process of terminating the diversity lottery program,’ Trump told reporters before a midday Cabinet meeting. ‘It sounds nice. It’s not nice. It’s not good.’

While Schumer did indeed co-sponsor the bill nearly 30 years ago, he actually tried to end it in 2013 as part of the bi-partisan Gang of Eight immigration reform bill.

Schumer was part of the group of four Republicans and four Democrats that tried to pass the new immigration bill.

It never passed, but it if did it would have created a path to citizenship for undocumented immigrants already in the country, increased border security by adding up to 40,000 border patrol agents, instituted talent-based immigration program, increased visas and greencards for STEM students and placed restrictions on the oft-abused H-1B visa.

The other senators who authored the bill included the Democrats Michael Bennett, Dick Durbin and Robert Menendez and the Republicans Jeff Flake, Lindsay Graham, John McCain and Marco Rubio.

Schumer said Wednesday in a statement that he has ‘always believed and continue to believe that immigration is good for America.’

‘President Trump, instead of politicizing and dividing America, which he always seems to do at times of national tragedy, should be focusing on the real solution – anti-terrorism funding – which he proposed cutting in his most recent budget,’ Schumer said.

‘I’m calling on the President to immediately rescind his proposed cuts to this vital anti-terrorism funding.’

Below are the countries that saw the largest amount of Diversity Lottery winners in 2015. Saipov’s homeland of Uzbekistan makes it into the top 10.

THE TOP TEN (FY2015):

  • Cameroon: 5,000
  • Liberia: 5,000
  • Iran: 4,992
  • Egypt: 4,988
  • Ethiopia: 4,988
  • Democratic Republic of the Congo: 4,943
  • Ukraine: 4,679
  • Uzbekistan: 4,368
  • Russia: 4,103
  • Kenya: 3,534

http://www.dailymail.co.uk/news/article-5038871/Who-Uzbek-driver-mowed-innocents-NYC.html#ixzz4xIdXDecn

 

‘Send him to Gitmo’: Trump is considering banishing ‘animal’ New York terror suspect to military prison as WH brands him an enemy combatant

  • President Donald Trump told reporters on Wednesday that he might send terror suspect Sayfullo Saipov to the Guantanamo Bay military prison
  • ‘Send him to Gitmo,’ Trump said at the White House; ‘I would certainly consider that’
  • White House press secretary Sarah Sanders said later that Trump ‘wasn’t necessarily advocating for’ putting Saipov in Guantanamo 
  • Trump called Saipov ‘an animal’ a day after he allegedly moved down eight people in New York City with a rented truck, then yelled ‘Allahu Akbar’ 
  • The president said he’s begun winding down the ‘diversity’ visa lottery program, but he doesn’t have the legal authority to wipe it off the books
  • Sen. John McCain says Saipov committed an ‘act of war’ and should be treated as an ‘enemy combatant,’ interrogated and denied Miranda rights 

President Donald Trump said Wednesday that he would consider sending Sayfullo Saipov, the Uzbek national who plowed a rented truck through a bike lane full of cyclists and pedestrians on Tuesday, to the U.S. military prison at Guantanamo Bay, Cuba.

‘I would certainly consider that, yes. I would certainly consider that. Send him to Gitmo,’ Trump said.

White House press secretary Sarah Sanders told reporters hours later during a briefing that ‘the point he was making is that he supports – or would support that, but he wasn’t necessarily advocating for it.’

Trump ‘certainly would support it if he felt like that was the best move,’ she added cryptically.

Separately, Senate Armed Services Committee chairman John McCain, a Republican who has tangled with the president on taxes and Obamacare, said Saipov should be considered an ‘enemy combatant’ and denied Miranda rights by police.

President Donald Trump said as he began a cabinet meeting on Wednesday that he would consider sending suspected terrorist Sayfullo Saipov to the Guantanamo Bay military prison

Sayfullo Saipov was admitted to the U.S. in 2010 under the State Department's Diversity Immigrant Visa Program, and questions have arisen about whether he should have the same legal rights enjoyed by more ordinary criminal defendants

Sayfullo Saipov, the Uzbek national who plowed a rented truck through a bike lane full of cyclists and pedestrians on Tuesday, was admitted to the U.S. in 2010 under the State Department’s Diversity Immigrant Visa Program

The president also declared that he is already moving to terminate the State Department’s diversity-oriented visa lottery program, which granted Saipov entry into the United States in 2010.

‘I am today starting the process of terminating the diversity lottery program. I’m going to ask Congress to immediately initiate or get rid of this program,’ he said.

Trump called Saipov ‘an animal’ during remarks before a cabinet meeting at the White House.

‘He came in through the diversity program as you know, and we’re going to stop it,’ the president vowed.

On Capitol Hill, McCain said in a statement that Americans should recognize terror attacks as ‘acts of war.’

‘As such, the New York terror suspect should be held and interrogated – thoroughly, responsibly, and humanely– as an enemy combatant consistent with the Law of Armed Conflict,’ McCain added.

‘He should not be read Miranda Rights, as enemy combatants are not entitled to them. As soon as possible, the administration should notify Congress how it plans to proceed with the interrogation and trial of this suspect.’

Arizona Republican Sen. John McCain said Wednesday that international terror attacks are 'acts of war' and perpetrators should be considered 'enemy combatants'

Arizona Republican Sen. John McCain said terror attacks are ‘acts of war’ and perpetrators should be considered ‘enemy combatants’

South Carolina Sen. Lindsey Graham advocated for holding suspected terrorists without giving them Miranda rights, including the right to have an attorney

South Carolina Sen. Lindsey Graham advocates for holding suspected terrorists without giving them Miranda rights, including the right to have an attorney

South Carolina Republican Sen. Lindsey Graham also suggested grilling terror attackers without giving them the right to remain silent or an attorney.

Graham recommended on the Fox News Channel that authorities ‘Hold them for a long period of time, get to know them, interrogate them about what they know, where they got trained – if any training.’

‘And we’ll find out pretty soon more about this guy if you don’t read him his Miranda rights,’ he continued, ‘because that stops the interrogation.’

The president does not have the authority to unilaterally end the lottery program that was implemented by Congress in 1990.

He has endorsed Senate legislation that would replace it with a merit-based program, but it is not guaranteed to pass even if it comes to the floor for a vote.

The White House could order the State Department to reduce the maximum number of lottery visas awarded annually from 50,000 to as few as zero.

‘The “diversity lottery” – sounds nice. It’s not nice. It’s not good,’ Trump told reporters.

‘We want a merit-based program’ for immigration, Trump said, ‘where people come into our country based on merit.’

‘And we do not want chain migration, where ultimately someone like him will be allowed to bring in many, many members of his family,’ Trump said.

America's heavily fortified Guantanamo Bay prison camp, situated on leased land in Cuba, has been the home of suspected jihadi terrorists for decades

America’s heavily fortified Guantanamo Bay prison camp, situated on leased land in Cuba, has been the home of suspected jihadi terrorists for decades

There are only 41 prisoners left at 'Gitmo,' down from 242 when Barack Obama took office in 2009

Trump suggested that Americans were ‘suckers’ for supporting a system that allowed lax oversight of people allowed to fast-track their visa applications on the basis of a randomly drawn number.

‘We want people that are going to keep our country safe. We don’t want lotteries, where the wrong people are in the lotteries,’ he said.

‘And guess what? Who are the suckers that get those people.’

The president also complained about ‘being stopped by Democrats’ as he attempts to ‘get rid of this lottery program.’

‘We’re going to stop that,’ the president insisted.

Saipov was seen on video running through a lower Manhattan street as he yelled ‘Allahu akbar,’ just after mowing down eight people with a rented pickup truck.

Trump suggested on Wednesday that Americans were 'suckers' for supporting a system that allowed lax oversight of people allowed to fast-track their visa applications on the basis of a randomly drawn number

NYPD: Uzbek man ‘planned attack for number of weeks’

Trump has vowed to reverse the previous administration’s course on closing Guantanamo, which was one of former president Barack Obama’s earliest campaign promises – and one he never fulfilled.

Obama largely emptied out ‘Gitmo,’ as the terror-detention hellhole is known, reducing its population from 242 to just 41.

The prison camp has been the site of infamous torture techniques including waterboarding – which the president supported during his White House campaign.

‘Terrorists are constantly seeking to strike our nation and it will require the unflinching devotion to our law enforcement, homeland security and intelligence professionals to keep America safe,’ Trump said Wednesday

‘We have to get much tougher and we have to get much smarter,’ he added. ‘And we have to get much less politically correct. We’re so politically correct that we’re afraid to do anything.’

THE ‘DIVERSITY VISA’ LOTTERY

In the government fiscal year ending September 2015, the most recent year for which statistics are available, the State Department received about 9.4 million applications for Diversity Immigrant Visas.

The applications included petitions for another 5 million spouses and children who would be admitted to the U.S. with lottery winners, for a total of 14.4 million potential visa recipients.

About 125,000 of them were lottery-selected, giving them the right to apply for immigrant visas – a number that the State Department cut off at 50,000 on a first-come, first-served basis.

Uzbekistan was the 8th-highest represented nation among the lottery winners that year.

THE TOP TEN:

  • Cameroon: 5,000
  • Liberia: 5,000
  • Iran: 4,992
  • Egypt: 4,988
  • Ethiopia: 4,988
  • Democratic Republic of the Congo: 4,943
  • Ukraine: 4,679
  • Uzbekistan: 4,368
  • Russia: 4,103
  • Kenya: 3,534

 

White House says Saipov should be considered ‘enemy combatant’

A photo of Sayfullo Saipov is displayed at a news conference at One Police Plaza Wednesday, Nov. 1, 2017, in New York. Saipov is accused of driving a truck on a bike path that killed several and injured others Tuesday near One World Trade Center. (AP Photo/Craig Ruttle)

 – The Washington Times – Wednesday, November 1, 2017

The White House said Wednesday that it considers the New York terrorist attacker to be an enemy combatant, a status which would make him subject to military justice.

“I believe we would consider this person to be an enemy combatant, yes,” said White House press secretary Sarah Huckabee Sanders. “I think the actions that he took certainly justify that.”

Terrorist suspect Sayfullo Saipov, a native of Uzbekistan, is accused of killing eight people and injuring 11 others by mowing them down with a rented truck on a bike path in lower Manhattan Tuesday.

President Trump said he would consider sending Mr. Saipov to the Guantanamo Bay terrorist detention center. Mrs. Sanders said the president “wasn’t necessarily advocating for it.”

Asked about the president’s call for quicker and tougher justice in terrorism prosecutions, Mrs. Sanders said Mr. Trump “was simply expressing his frustration” with the lengthy legal process that often comes with such cases.

President Trump said he would consider sending Mr. Saipov to the Guantanamo Bay terrorist detention center. Mrs. Sanders said the president “wasn’t necessarily advocating for it.”

Asked about the president’s call for quicker and tougher justice in terrorism prosecutions, Mrs. Sanders said Mr. Trump “was simply expressing his frustration” with the lengthy legal process that often comes with such cases.

Justice Department spokesman Wyn Hornbuckle declined to comment Wednesday on whether there have been any discussions with the White House on sending Mr. Saipov to Guantanamo rather than filing criminal charges in a civilian court.

The question about whether Mr. Saipov could be subject to military justice or tried in the civilian courts comes amid developments in several high-profile terrorism trials in the federal courts.

A federal jury last month convicted Ahmad Khan Rahimi, a 29-year-old New Jersey man, of planting two pressure-cooker bombs in New York City in 2016, one of which exploded and injured 30 people.

The federal trial of Ahmed Abu Khattala, the alleged mastermind behind the deadly 2012 attack on an American compound in Benghazi, Libya, got underway last month. Federal prosecutors are still presenting evidence in that case at the federal courthouse in D.C.

According to Justice Department documents from 2015, federal civilian criminal courts had convicted 620 people on terrorism-related charges since the Sept. 11, 2001, terrorist attacks.

The number of convictions has continued to climb. A Fordham University School of Law analysis found that from March 2014 through August 2017, 135 people had been charged with and 77 people had been convicted of crimes linked to the Islamic State.

Since 2001, military commissions have resulted in eight convictions, with four overturned. The five people accused of conspiring in the Sept. 11 attacks have yet to go to trial after more than a decade in custody at Guantanamo.

Anthony D. Romero, executor director of the American Civil Liberties Union, said sending Mr. Saipov to Guantanamo or treating him as an enemy combatant would “violate due process and the rule of law.”

“The FBI and our federal court system are more than capable of dealing with terrorism cases, and Guantánamo was shown long ago to be an epic failure,” Mr. Romero said.

https://www.washingtontimes.com/news/2017/nov/1/wh-saipov-should-be-considered-enemy-combatant/

Trump orders Homeland Security to step up ‘extreme vetting’ in wake of NYC terror attack

President Trump announced that he has ordered Homeland Security to step up “extreme vetting” in the wake of the New York City attack that left eight people dead and 11 injured.

“I have just ordered Homeland Security to step up our already Extreme Vetting Program. Being politically correct is fine, but not for this!” he wrote.

I have just ordered Homeland Security to step up our already Extreme Vetting Program. Being politically correct is fine, but not for this!

Trump’s statement comes after a man described as a “lone wolf” deliberately drove a rented truck into a West Side bike path in lower Manhattan, in the first terror attack in New York City since 9/11, and just blocks from the World Trade Center.

Trump’s extreme-vetting policy on immigrants entails more stringent investigative measures intended to identify those who may sympathize with extremists or pose a national security risk to the United States.

On Wednesday, Trump called for “Merit Based immigration,” saying on Twitter that the driver in Tuesday’s attack “came into our country through what is called the ‘Diversity Visa Lottery Program,’ a Chuck Schumer beauty.”

Officials said the attacker is an immigrant from Uzbekistan who came to the U.S. legally in 2010. They haven’t said whether he came in through the Diversity Immigrant Visa Program, which covers immigrants from countries with low rates of immigration to the U.S.

Trump tweeted, “We are fighting hard for Merit Based immigration, no more Democrat Lottery Systems. We must get MUCH tougher (and smarter).”

On Tuesday, the driver brandished two fake guns when he exited the truck after the multi-block rampage which left a trail of mangled bodies and twisted bikes. He yelled “Allahu Akbar,” which is the Arabic phrase for “God is great.”

A high-ranking police source told PIX11 News the suspect has been identified as 29-year-old Sayfullo Saipov. He’s a resident of Tampa, Fla., who arrived in the United States in 2010 from Uzbekistan, sources told PIX11 News.

Under an executive order Trump signed earlier this year, the United States had temporarily halted admissions for refugees from all countries, with some exceptions. The end-date written into the order came and went last week with no new order from Trump to extend it, according to a State Department official, who wasn’t authorized to comment by name and requested anonymity.

Refugees seeking entry to the U.S. will face what officials described as more stringent and thorough examination of their backgrounds, in line with Trump’s “extreme vetting” policy for immigrants. The Homeland Security Department, the State Department and other U.S. agencies have been reviewing the screening process during the temporary ban.

Trump orders Homeland Security to step up ‘extreme vetting’ in wake of NYC terror attack

Diversity Immigrant Visa

From Wikipedia, the free encyclopedia

The five-year (2006–2010) legal immigration rate per country’s total 2005 population, defined as all those who received legal permanent residence in all categories, including regular immigrantsrefugees and asylees, diversity lottery winners, NACARA/HRIFA beneficiaries, and others.

The Diversity Immigrant Visa program, also known as the green card lottery, is a United States congressionally mandated lottery program for receiving a United States Permanent Resident Card. The Immigration Act of 1990 established the current and permanent Diversity Visa (DV) program.

The lottery is administered by the Department of State and conducted under the Immigration and Nationality Act (INA) as amended by the Immigration Act of 1990. The lottery makes available 50,000 permanent resident visas annually and aims to diversify the immigrant population in the United States, by selecting applicants from countries with low rates of immigration in the five years prior.

Attempts have been made to end the program since 2005. In 2017 it received widespread attention after eight people were killed in a terrorist attack by a recipient of a Diversity Immigrant Visa.

Requirements

To enter the lottery, applicants must have been born in an eligible country. If selected, to qualify for the immigrant visa, they must have completed at least a high school education or at least two years of work experience in an occupation which requires at least two other years of training or experience.[1] They must also satisfy general immigration requirements, such as means of support, no criminal background, and good health.

Eligibility is determined by the applicant’s country of birth. In some cases the applicant may use a parent’s or spouse’s country of birth instead. The country of residence or nationality is irrelevant.[1]

Distribution and lottery process

Regions and eligible countries for the Diversity Visa lottery

The visas are distributed among six regions: AfricaAsiaEurope (TurkeyCyprus and all countries in the former Soviet Union are allocated to Europe, even though some of them are geographically entirely in Asia), Latin America (MexicoCentral America, the Caribbean and South America), North America (consisting only of Canada and the Bahamas), and Oceania.[1][2]

Dependent territories are treated as part of their respective sovereign countries, and disputed territories are allocated as recognized by the United States. For example, Bermuda is treated as part of the United Kingdom under Europe, the Gaza Strip is considered part of Egypt under Africa, and the West Bank is considered part of Jordan under Asia. However, there are some exceptions: Northern IrelandHong Kong and Taiwan are treated as separate countries, and Macau is considered part of Portugal under Europe (even after its sovereignty returned to China in 1999).[1]

Each region that sent more than one sixth of the total number of immigrants to the United States in the previous five years is considered a “high-admission region” (currently Latin America and Asia), and each region that sent less than one sixth is a “low-admission region” (currently North America, Europe, Africa and Oceania). The proportion of Diversity Visas given to the low-admission group is set as the proportion of recent immigrants from the high-admission group (currently about 80%),[3] and vice versa. Among regions of the same group, the Diversity Visas are allocated proportionally to their population, excluding ineligible countries (those that sent more than 50,000 immigrants in the previous five years).[2]

There is a limitation that no single country may receive more than 7% of the total Diversity Visas (3,500).[1] Although only 50,000 Diversity Visas are available each year, the lottery selects about 100,000 applicants. The reason for the larger selection is to ensure that all 50,000 Diversity Visas are eventually given each year, since some applicants may not satisfy general immigration requirements or may decide not to continue the process. As a result, some lottery winners might not obtain a visa.[4] It is also possible that some visas remain available even after all initially selected applicants are reviewed. In this case, additional applicants are selected later. For this reason, applicants who were not initially selected in the lottery should keep checking their status online periodically, until the end of the respective fiscal year.[5]

History

Legislative and Administrative

Starting in 1986, the United States established several temporary immigrant visa programs outside of the usual immigration preferences (family members or by employment). The first program was NP-5, run from 1987 to 1989, where a limited number of visas was issued on a first-come, first-served basis. The second program was OP-1, run through a lottery from 1989 to 1991 and available for natives of countries with low levels of recent immigration to the United States. The third program, AA-1, ran from 1992 to 1994 and was available for natives from a select group of countries that had been “adversely affected” by earlier immigration laws. Intentionally and in practice, people from Ireland and Northern Ireland benefited disproportionally from these programs. They were also known as the DonnellyBerman and Morrison visas, respectively, after the congressmen who sponsored each one.[6][7][8][9]

The Immigration Act of 1990 established the current and permanent Diversity Visa (DV) program, where 55,000 immigrant visas (later reduced to 50,000) are available in an annual lottery. The lottery aims to diversify the immigrant population in the United States, by selecting applicants mostly from countries with low rates of immigration to the United States in the previous five years.[9] Starting in fiscal year 1999, 5,000 of the visas from the DV program are reserved for use by the NACARA program, so the number of immigrant visas available in the lottery is reduced to 50,000.[10]

The first DV lottery, for fiscal year 1995, was named DV-1.[11] For fiscal years 1996 to 1999, the name was in the format DV-YY, where YY was the last two digits of the year.[12][13][14][15] The lotteries since fiscal year 2000 have been named in the format DV-YYYY, with the full year number.[16] The year in the name refers to the fiscal year when the immigrant visas will be given, which starts in October of the previous calendar year, and the entry period for the lottery occurs almost a year earlier. Therefore, there is a two-year difference between the lottery name and its entry period. For example, for DV-2017 (fiscal year starting in October 2016), the entry period was in 2015.[1]

Initially, the DV lottery was administered entirely by mail, and only winners were notified. The entry form moved to an online system starting in DV-2005, but still only winners were notified, by mail.[6] Starting in DV-2010, all applicants are able to verify online whether they were selected.[17] Notification of winners also by mail continued until DV-2011, but since DV-2012 it is done exclusively online.[18]

Efforts to Repeal

In December 2005, the United States House of Representatives voted 273–148 to add an amendment to the border enforcement bill H.R. 4437 abolishing the DV. Opponents of the lottery said it was susceptible to fraud and was a way for terrorists to enter the country. The Senate never passed the bill.

In March 2007, Congressman Bob Goodlatte (R-VA) introduced H.R. 1430, which would eliminate the Diversity Visa program. In June 2007, the U.S. House passed H.R. 2764 to eliminate funding for the program, and the Senate did likewise in September.[19] However, the final version of this bill with amendments, signed into law on December 26, 2007, did not include the removal of funds for the program. Several attempts have been made over the last several years to eliminate the lottery. Although H.R. 2764 was an appropriation bill and could only cut funds for the lottery during one fiscal year, this was the first time that both the House and the Senate passed a bill to halt the Diversity Visa program. H.R. 2764

Rep. Goodlatte reintroduced his Security and Fairness Enhancement for America Act (formerly H.R. 1430, now H.R. 2305) on May 7, 2009. The bill would have amended the Immigration and Nationality Act to eliminate the diversity immigrant program completely, but did not pass. Rep. Sheila Jackson-Lee (D-TX) introduced the Save America Comprehensive Immigration Act of 2009 (H.R. 264) on January 7, 2009. The bill would have doubled the number of Diversity Visas available to 110,000 yearly. The bill did not pass.[20] If it had passed, the Border Security, Economic Opportunity, and Immigration Modernization Act of 2013 would have abolished the program in fiscal year 2015. A comprehensive analysis of DV lottery issues was prepared in 2011 by Congressional Research Service.[21]

Terrorism

In 2002 Hesham Mohamed Hadayet, an Egyptian immigrant who maintained residency in United States through his wife’s Diversity Visa[22]killed two people and injured four others at Los Angeles International Airport.[23][24][25] In 2017 Sayfullo Habibullaevich Saipov, who had immigrated from Uzbekistan on a Diversity Visa, killed eight and injured eleven when he drove his truck down a bike path in Lower Manhattan.[26][27]

Ineligible countries

Those born in any territory that has sent more than 50,000 immigrants to the United States in the previous five years are not eligible to receive a Diversity Visa. For DV-2019, natives of the following nations are ineligible: BangladeshBrazilCanadaChina (mainland-born), ColombiaDominican RepublicEl SalvadorHaitiIndiaJamaicaMexicoNigeriaPakistanPeruPhilippinesSouth KoreaUnited Kingdom (except Northern Ireland) and its dependent territories, and Vietnam.[28]

Exemptions

The term 50,000 “immigrants” refers only to people who immigrated via the family-sponsored, employment, or immediate relatives of U.S. citizen categories, and does not include other categories such as refugees, asylum seekers, NACARA beneficiaries, or previous diversity immigrants. It is for this reason that CubaIraqMyanmarIranEthiopiaNepalGuatemalaEcuador and Egypt are not on the ineligible list as of 2016 despite sending over 50,000 immigrants in the previous five years.[29]Northern Ireland has a special exemption, with natives able to enter the lottery despite the rest of the United Kingdom being ineligible.

Changes

The first program was in fiscal year 1995, and the following 13 countries were ineligible from the start: Canada, China (mainland), Dominican Republic, El Salvador, Haiti, India, Jamaica, Mexico, Philippines, South Korea, Taiwan, United Kingdom (except Northern Ireland) and its dependent territories, and Vietnam. Since then, Bangladesh, Brazil, Colombia, Nigeria, Pakistan and Peru have been added to the ineligible list and are currently on it, Taiwan has been removed from it, and Ecuador, Guatemala, Poland and Russia have been on it at times, reflecting the changing levels of immigration from these countries.

Of the eight most populous countries in the world, all are ineligible except Indonesia. Of the next 11 most populous countries, eight are eligible, of which six are among the heaviest users of the lottery (RussiaEthiopiaEgyptDemocratic Republic of the CongoIran and Turkey); each of these countries was assigned close to the maximum possible ~4,500 openings for DV-2019 (along with AlbaniaNepalUkraine and Uzbekistan).[4]

Historical eligibility for the Diversity Immmigrant Visa lottery
Country Fiscal year
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
 Bangladesh Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No
 Brazil Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No
 Canada No No No No No No No No No No No No No No No No No No No No No No No No No
 China No No No No No No No No No No No No No No No No No No No No No No No No No
 Colombia Yes No No No No No No No No No No No No No No No No No No No No No No No No
 Dominican Republic No No No No No No No No No No No No No No No No No No No No No No No No No
 Ecuador Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No Yes Yes
 El Salvador No No No No No No No No No No No No No No No No No No No No No No No No No
 Guatemala Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No Yes Yes Yes Yes Yes Yes
 Haiti No No No No No No No No No No No No No No No No No No No No No No No No No
 India No No No No No No No No No No No No No No No No No No No No No No No No No
 Jamaica No No No No No No No No No No No No No No No No No No No No No No No No No
 Mexico No No No No No No No No No No No No No No No No No No No No No No No No No
 Nigeria Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No
 Pakistan Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No No No No No No No
 Peru Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No
 Philippines No No No No No No No No No No No No No No No No No No No No No No No No No
 Poland Yes Yes Yes No No No No Yes Yes Yes Yes Yes No No No No No No Yes Yes Yes Yes Yes Yes Yes
 Russia Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
 South Korea No No No No No No No No No No No No No No No No No No No No No No No No No
 Taiwan No No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
 United Kingdom No No No No No No No No No No No No No No No No No No No No No No No No No
 Vietnam No No No No No No No No No No No No No No No No No No No No No No No No No
Others Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Statistics

Applicants (including derivatives)[30][31][32][4]
Region DV-2007 DV-2008 DV-2009 DV-2010 DV-2011 DV-2012 DV-2013 DV-2014 DV-2015 DV-2016 DV-2017 DV-2018
Africa 3,901,066 4,150,726 4,372,522 5,105,274 5,812,139 6,304,186 6,783,699 7,500,487 6,586,260 N/A N/A N/A
Asia 2,732,805 3,506,073 6,401,172 6,175,452 7,870,896 10,102,185 1,863,169 2,384,168 2,720,578 N/A N/A N/A
Europe 1,910,410 2,120,916 2,174,715 2,154,567 2,593,074 3,022,506 3,512,521 4,434,266 4,731,913 N/A N/A N/A
Latin America 489,144 243,694 192,447 126,168 193,932 200,712 377,386 266,272 315,667 N/A N/A N/A
North America 1,968 2,647 3,193 2,624 3,793 3,717 3,356 3,657 3,585 N/A N/A N/A
Oceania 34,834 40,260 40,964 33,743 37,674 38,962 37,224 45,120 39,884 N/A N/A N/A
Total 9,070,227 10,064,316 13,185,013 13,597,828 16,511,508 19,672,268 12,577,355 14,633,970 14,397,887 17,573,350 19,344,586 23,088,613
Selected applicants (including derivatives)[30][31][32]
Region DV-2007 DV-2008 DV-2009 DV-2010 DV-2011 DV-2012 DV-2013 DV-2014 DV-2015 DV-2016 DV-2017 DV-2018
Africa 43,998 52,823 53,979 54,003 51,004 50,000 52,080 61,942 58,000 45,034 38,500 49,392
Asia 11,929 14,142 14,002 15,001 14,999 15,002 16,045 23,270 20,002 15,002 13,499 15,997
Europe 21,939 26,150 27,921 29,803 30,999 31,001 33,088 46,589 40,000 27,011 28,500 41,706
Latin America 3,097 1,845 1,893 1,982 2,001 2,002 2,206 4,620 3,999 3,000 1,951 4,995
North America 12 17 12 18 18 15 16 23 14 16 10 15
Oceania 1,398 1,713 1,801 1,803 1,600 2,001 2,193 4,215 3,499 1,500 1,450 3,863
Total 82,373 96,690 99,608 102,610 100,621 100,021 105,628 140,659 125,514 91,563 83,910 115,968
Proportion of applicants who were selected
Region DV-2007 DV-2008 DV-2009 DV-2010 DV-2011 DV-2012 DV-2013 DV-2014 DV-2015 DV-2016 DV-2017 DV-2018
Africa 1.13% 1.27% 1.23% 1.06% 0.88% 0.79% 0.77% 0.83% 0.88% N/A N/A N/A
Asia 0.44% 0.40% 0.22% 0.24% 0.19% 0.15% 0.86% 0.98% 0.74% N/A N/A N/A
Europe 1.15% 1.23% 1.28% 1.38% 1.20% 1.03% 0.94% 1.05% 0.85% N/A N/A N/A
Latin America 0.63% 0.76% 0.98% 1.57% 1.03% 1.00% 0.58% 1.74% 1.27% N/A N/A N/A
North America 0.61% 0.64% 0.38% 0.69% 0.47% 0.40% 0.48% 0.63% 0.39% N/A N/A N/A
Oceania 4.01% 4.25% 4.40% 5.34% 4.25% 5.14% 5.89% 9.34% 8.77% N/A N/A N/A
Total 0.91% 0.96% 0.76% 0.75% 0.61% 0.51% 0.84% 0.96% 0.87% 0.52% 0.43% 0.50%

Criticism

Critics have called for ending the program citing fraud and the random nature of the lottery.[33][34] Others have noted the risk of terrorism, citing a 2002 terror attack by an Egyptian immigrant who maintained residency in United States through his wife’s Diversity Visa.[22][35][36] Following a 2017 terrorist attack by another Diversity Visa recipient, President Donald Trump, who had earlier called for a return to a “merit-based” immigration system,[37][38] called for an end to the program.[39][40]

Fraud

There is no charge to enter the Diversity Visa lottery, and the only way to do so is by completing and sending the electronic form available at the U.S. Department of State’s website during the registration period. However, there are numerous companies and websites that charge a fee in order to complete the form for the applicant. The Department of State and the Federal Trade Commission have warned that some of these businesses falsely claim to increase someone’s chances of winning the lottery, or that they are affiliated with the U.S. government.[41]

There have also been numerous cases of fraudulent emails and letters which falsely claim to have been sent by the Department of State and that the recipient has been granted a Permanent Resident Card. These messages prompt the recipients to transfer a “visa processing fee” as a prerequisite for obtaining a “guaranteed” green card. The messages are sometimes sent to people who never participated in the lottery and can look trustworthy as they contain the recipient’s exact name and contact details and what appears to be a legal notice.

The Department of State has issued a warning against the scammers. It notes that any email claiming the recipient to be a winner of the lottery is fake because the Department has never notified and will not notify winners by email. The Department has urged recipients of such messages to notify the Internet Crime Complaint Center about the scam.[42] The office of inspector general identified multiple problems with DV lottery in several countries, including Ukraine, Ghana, Albania in embassy inspection reports.[43][44][45] According to testimony from Stephen A. Edson before the House Judiciary Committee, “in Bangladesh, for example, one agent is reported to have enrolled an entire phone book so that he could then either extort money from winning applicants who had never entered the program to begin with or sell their winning slots to others.”[46]

References

https://en.wikipedia.org/wiki/Diversity_Immigrant_Visa

Story 2: Trump Expected To Name Jerome Powell As Next Federal Reserve Chairman Replacing Chair Janet Yellen — A Dove or Continuation of Interventionist Easy Monetary Policy — Better Choice Was John Taylor — Taylor For Fed Chair and Powell for Vice Chair — Videos

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July 28 — Alan Greenspan, former Federal Reserve chairman and founder of Greenspan Associates, discusses nervousness over bond prices and moving into currencies to counter negative interest rates, as well as dealing with uncertainties in the global economy. He speaks with Bloomberg’s Alix Steel on “Bloomberg ‹GO›.”

Greenspan: You Can’t Fix U.S. Economy Until You Fix Entitlements

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Dec.13 — Former Federal Reserve Chairman Alan Greenspan discusses his outlook for productivity and U.S. economic growth. He speaks with Bloomberg’s David Westin.

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Published on Oct 17, 2017
Oct.17 — David Riley, head of credit strategy at Bluebay Asset Management, and Ed Perks, chief investment officer at Franklin Templeton Multi-Asset Solutions, examine what John Taylor would offer as Federal Reserve Chairman. They speak on “Bloomberg Daybreak: Americas.”

Interview with Professor John Taylor

The Fed Should Raise Rates to Help the Economy – John Taylor

Published on Nov 13, 2015

The Federal Reserve should return to conventional monetary policy as soon as possible as higher interest rates would be beneficial to the U.S. economy, said noted economist John Taylor of Stanford University. Taylor spoke with TheStreet during a conference called ‘Rethinking Monetary Policy,’ which was held at the Cato Institute in Washington D.C. Thursday. ‘To me the rethinking in some sense is going back and seeing why things worked well when they did in the ‘80s and ’90s until this period,’ said Taylor. ‘Rethinking means adapting some of the things that we forgot.’ Taylor argues that unconventional Fed policy, which was enacted in response to the financial crisis, has in some ways been detrimental. ‘The world has suffered in a way from being off track, from these very unusual policies. And so fixing that, getting back to where I think the Fed wants to go, would be an improvement,’ explained Taylor. ‘Just globally speaking, it’s not been a very successful decade,’ he added. Taylor argues for a rules-based policy system for Central Banks, saying it would lead to less volatility in policy making. TheStreet’s Rhonda Schaffler reports.

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In his new book, First Principles: Five Keys to Restoring America’s Prosperity, Stanford University professor of economics John B. Taylor, details the not-so-secret ingredients to rebuilding American’s economic future: predictable policy, rule of law, strong incentives, reliance on markets, and a clearly limited role for government. “America can be great again, economically speaking,” Taylor explains, “it’s just more recently where we’ve gone off track.” Taylor sat down with Reason Magazine Managing Editor Katherine Mangu-Ward to discuss his book, the principles that underlie America’s economic supremacy and what’s gone wrong over the past decade. Taylor is the Raymond Professor of Economics at Stanford University and the George Shultz Senior Fellow at Stanford’s Hoover Institution. He was Treasury Under Secretary for International Affairs from 2001 to 2005. His previous books include Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis.

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Trump to Tap Jerome Powell as Next Fed Chairman

The president is expected to announce his decision Thursday

Federal Reserve governor Jerome Powell spoke in Washington on Oct. 3. He has been on the board of governors since 2012.
Federal Reserve governor Jerome Powell spoke in Washington on Oct. 3. He has been on the board of governors since 2012. PHOTO:JOSHUA ROBERTS/REUTERS

If confirmed by the Senate, Mr. Powell would succeed Fed Chairwoman Janet Yellen, the central bank’s first female leader, whose four-year term as Fed chief expires in early February.

In his five years at the Fed, Mr. Powell has been a reliable ally of Ms. Yellen and would likely continue the Fed’s current cautious approach to reversing the central bank’s crisis-era stimulus policies as the economy expands.

That would mean gradually raising short-term interest rates in quarter-percentage-point steps through 2020 while slowly shrinking the Fed’s $4.2 trillion portfolio of Treasury and mortgage-backed securities it purchased to lower long-term rates.

Mr. Powell’s nomination would mark the first time in nearly four decades that a new president hasn’t asked the serving Fed leader to stay on for another term, even though that person was nominated by a president of a different party. The last time a first-term president didn’t do that was in 1978, when President Jimmy Carter chose G. William Miller to succeed Arthur Burns.

The president spoke with Mr. Powell on Tuesday, according to people familiar with the matter who couldn’t describe what they discussed.

Mr. Trump had settled on Mr. Powell by Saturday, but people familiar with the process had cautioned that he could change his mind. The president plans to formally announce the decision Thursday before he leaves for a trip to Asia on Friday.

Reached by phone Wednesday, both Mr. Powell and Ms. Yellen declined to comment. A Fed spokeswoman also declined to comment.

Ms. Yellen was one of five finalists for the position, along with Stanford University economics professor John Taylor, former Fed governor Kevin Warsh and National Economic Council Director Gary Cohn.

Mr. Taylor and Mr. Warsh didn’t respond to requests seeking comment Wednesday. Mr. Cohn’s spokeswoman didn’t immediately respond to a request for comment.

Mr. Trump said in a video last week that he had “somebody very specific in mind” for the job. “It will be a person who hopefully will do a fantastic job,” Mr. Trump said in a video posted to Instagram, adding, “I think everybody will be very impressed.”

Fed officials began raising their benchmark federal-funds rate in December 2015 after holding it near zero for seven years following the financial crisis. They voted in June to lift rates to a range between 1% and 1.25% and in October started the process of slowly shrinking the Fed’s bond portfolio.

FED SPEECH ANALYZER

“The economy is as close to our assigned goals as it has been for many years,” Mr. Powell said in June. If it continues growing as expected, “I would view it as appropriate to continue to gradually raise rates.”

Officials have penciled in one more rate increase this year. But they indicated in September such increases are likely to end at a lower point than they had previously projected—at a longer-run level of around 2.75%—considerably lower than where officials have stopped raising rates in the past.

Mr. Trump told The Wall Street Journal in July, “I’d like to see rates stay low.”

The Fed on Wednesday left short-term interest rates unchanged, but signaled it would consider lifting them before year’s end amid signs the economy is gaining momentum.

Mr. Powell has never dissented on a Fed monetary or regulatory policy vote and in speeches hasn’t deviated far from the board’s consensus.

Where he could lead a shift is on regulatory policy. He has advocated loosening some of the financial rules adopted by the Fed and other agencies since the crisis, a position that meshes with Mr. Trump’s deregulatory agenda. Mr. Powell has suggested softening the Volcker rule barring banks from using their own money to make risky bets and easing some bank stress tests.

He also has endorsed reviewing some of the supervisory duties imposed on banks’ boards of directors to prevent them from being burdened with “an ever-increasing checklist.”

“More regulation is not the best answer to every problem,” Mr. Powell said in a speech in early October.

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*Seasonally adjusted †Change from a year earlier in the price index for personal-consumption expenditures

Source: Federal Reserve Bank of St. Louis

“To some extent he offers Trump the best of both worlds. You get broadly speaking continuity of Yellen’s careful and relatively dovish approach to monetary policy but with somebody who is a card-carrying Republican and who is significantly more inclined to revisit some of the postcrisis regulations,” said Krishna Guha, vice chairman at Evercore ISI and a former New York Fed official.

Karen Petrou, managing partner of the financial-services consulting firm Federal Financial Analytics, said Mr. Powell’s recent remarks on regulation “were certainly much more flexible than [Ms. Yellen] has been.”

Mr. Powell, a lawyer, would be the first Fed leader in three decades without a Ph.D. in economics. Before joining the Fed board, Mr. Powell worked as an investment banker in New York City, as Treasury undersecretary for financial institutions in the George H.W. Bush administration, as a partner at the Carlyle Group and as a scholar at the Bipartisan Policy Center.

That background could serve him well, said Aaron Klein, an economic studies fellow at the Brookings Institution and director of the Center on Regulation and Markets.

“The Federal Reserve’s mandate has grown significantly since the financial crisis,” he said. “With a broader mandate, one should expect broader and more diverse backgrounds of potential good fits for a chair.”

“He would represent continuity of the Fed system and culture but a break from the predominance of monetary policy as the core background of the chair,” Mr. Klein said.

The decision marks the culmination of an unusually public and drawn-out search for one of the top economic policy-making jobs in the world.

Mr. Trump upended the usually staid selection process by openly weighing the pros and cons of various candidates and asking lawmakers, businesspeople and media personalities for their input.

Mr. Trump polled GOP senators last month on their preferred choice at a lunch on Capitol Hill, and said he was still considering “two, and maybe three” people for the job.

Mr. Trump has other opportunities to reshape the central bank. Randal Quarles, his first nominee to the Fed’s powerful seven-member board of governors, took office in October. Three other seats remain open.

Nominations for all board positions, including chairman and vice chairman, are subject to Senate confirmation.

Mr. Powell should have little trouble winning Senate approval, but his views could clash with those of some Republican senators who have criticized him for supporting the Fed’s easy-money and postcrisis regulatory policies.

He won confirmation to the Fed with bipartisan support in the Senate twice before: to fill an unfinished governor’s term in 2012 and for a full term in 2014. Some Republicans have suggested he could face difficult questions from his own side of the aisle. “I think we should move in a different direction,” from current Fed policies, Sen. Pat Toomey (R., Pa.) said last month about the possibility of a Powell nomination.

Write to Kate Davidson at kate.davidson@wsj.com, Peter Nicholas at

https://www.wsj.com/articles/trump-to-tap-feds-jerome-powell-for-fed-chairman-1509568166

Taylor rule

From Wikipedia, the free encyclopedia

In economics, a Taylor rule is a reduced form approximation of the responsiveness of the nominal interest rate, as set by the central bank, to changes in inflationoutput, or other economic conditions. In particular, the rule describes how, for each one-percent increase in inflation, the central bank tends to raise the nominal interest rate by more than one percentage point. This aspect of the rule is often called the Taylor principle. Although such rules may serve as concise, descriptive proxies for central bank policy, and are not explicitly proscriptively considered by central banks when setting nominal rates.

The rule was first proposed by John B. Taylor,[1] and simultaneously by Dale W. Henderson and Warwick McKibbin in 1993.[2] It is intended to foster price stability by systematically reducing uncertainty and increasing the credibility of future actions by the central bank. It may also avoid the inefficiencies of time inconsistency from the exercise of discretionary policy.[3] The Taylor rule synthesized, and provided a compromise between, competing schools of economics thought in a language devoid of rhetorical passion.[4] Although many issues remain unresolved and views still differ about how the Taylor rule can best be applied in practice, research shows that the rule has advanced the practice of central banking.[5]

As an equation

According to Taylor’s original version of the rule, the nominal interest rate should respond to divergences of actual inflation rates from target inflation rates and of actual Gross Domestic Product (GDP) from potential GDP:

{\displaystyle i_{t}=\pi _{t}+r_{t}^{*}+a_{\pi }(\pi _{t}-\pi _{t}^{*})+a_{y}(y_{t}-{\bar {y}}_{t}).}i_{t}=\pi _{t}+r_{t}^{*}+a_{\pi }(\pi _{t}-\pi _{t}^{*})+a_{y}(y_{t}-{\bar y}_{t}).

In this equation, {\displaystyle \,i_{t}\,}\,i_{t}\, is the target short-term nominal interest rate (e.g. the federal funds rate in the US, the Bank of England base rate in the UK), {\displaystyle \,\pi _{t}\,}\,\pi _{t}\, is the rate of inflation as measured by the GDP deflator{\displaystyle \pi _{t}^{*}}\pi _{t}^{*} is the desired rate of inflation, {\displaystyle r_{t}^{*}}r_{t}^{*} is the assumed equilibrium real interest rate, {\displaystyle \,y_{t}\,}\,y_{t}\, is the logarithm of real GDP, and {\displaystyle {\bar {y}}_{t}}{\bar y}_{t} is the logarithm of potential output, as determined by a linear trend.

In this equation, both {\displaystyle a_{\pi }}a_{{\pi }} and {\displaystyle a_{y}}a_{y} should be positive (as a rough rule of thumb, Taylor’s 1993 paper proposed setting {\displaystyle a_{\pi }=a_{y}=0.5}a_{{\pi }}=a_{y}=0.5).[6] That is, the rule “recommends” a relatively high interest rate (a “tight” monetary policy) when inflation is above its target or when output is above its full-employment level, in order to reduce inflationary pressure. It recommends a relatively low interest rate (“easy” monetary policy) in the opposite situation, to stimulate output. Sometimes monetary policy goals may conflict, as in the case of stagflation, when inflation is above its target while output is below full employment. In such a situation, a Taylor rule specifies the relative weights given to reducing inflation versus increasing output.

The Taylor principle

By specifying {\displaystyle a_{\pi }>0}a_{{\pi }}>0, the Taylor rule says that an increase in inflation by one percentage point should prompt the central bank to raise the nominal interest rate by more than one percentage point (specifically, by {\displaystyle 1+a_{\pi }}1+a_{{\pi }}, the sum of the two coefficients on {\displaystyle \pi _{t}}\pi _{t} in the equation above). Since the real interest rate is (approximately) the nominal interest rate minus inflation, stipulating {\displaystyle a_{\pi }>0}a_{{\pi }}>0 implies that when inflation rises, the real interest rate should be increased. The idea that the real interest rate should be raised to cool the economy when inflation increases (requiring the nominal interest rate to increase more than inflation does) has sometimes been called the Taylor principle.[7]

Alternative versions of the rule

Effective federal funds rate and prescriptions from alternate versions of the Taylor Rule

While the Taylor principle has proved very influential, there is more debate about the other terms that should enter into the rule. According to some simple New Keynesian macroeconomic models, insofar as the central bank keeps inflation stable, the degree of fluctuation in output will be optimized (Blanchard and Gali call this property the ‘divine coincidence‘). In this case, the central bank does not need to take fluctuations in the output gap into account when setting interest rates (that is, it may optimally set {\displaystyle a_{y}=0}a_{y}=0.) On the other hand, other economists have proposed including additional terms in the Taylor rule to take into account financial conditions: for example, the interest rate might be raised when stock prices, housing prices, or interest rate spreads increase.

• Taylor Rule 1993 – the original definition by John Taylor with {\displaystyle a_{\pi }=a_{y}=0.5}{\displaystyle a_{\pi }=a_{y}=0.5}

• Taylor Rule 1999 – adapted and updated by John Taylor in a new research paper: {\displaystyle a_{\pi }=0.5,a_{y}\geq 0}{\displaystyle a_{\pi }=0.5,a_{y}\geq 0}

Empirical relevance

Although the Federal Reserve does not explicitly follow the Taylor rule, many analysts have argued that the rule provides a fairly accurate summary of US monetary policy under Paul Volcker and Alan Greenspan.[8][9] Similar observations have been made about central banks in other developed economies, both in countries like Canada and New Zealand that have officially adopted inflation targeting rules, and in others like Germany where the Bundesbank‘s policy did not officially target the inflation rate.[10][11] This observation has been cited by ClaridaGalí, and Gertler as a reason why inflation had remained under control and the economy had been relatively stable (the so-called ‘Great Moderation‘) in most developed countries from the 1980s through the 2000s.[8] However, according to Taylor, the rule was not followed in part of the 2000s, possibly leading to the housing bubble.[12][13] Certain research has determined that some households form their expectations about the future path of interest rates, inflation, and unemployment in a way that is consistent with Taylor-type rules.[14]

Criticisms

Athanasios Orphanides (2003) claims that the Taylor rule can misguide policy makers since they face real-time data. He shows that the Taylor rule matches the US funds rate less perfectly when accounting for these informational limitations and that an activist policy following the Taylor rule would have resulted in an inferior macroeconomic performance during the Great Inflation of the seventies.[15]

In 2015, financial manager Bill Gross said the Taylor rule “must now be discarded into the trash bin of history”, in light of tepid GDP growth in the years after 2009.[16] Gross believed low interest rates were not the cure for decreased growth, but the source of the problem.

See also

References

  1. Jump up^ Taylor, John B. (1993). “Discretion versus Policy Rules in Practice” (PDF). Carnegie-Rochester Conference Series on Public Policy39: 195–214. (The rule is introduced on page 202.)
  2. Jump up^ Henderson, D. W.; McKibbin, W. (1993). “A Comparison of Some Basic Monetary Policy Regimes for Open Economies: Implications of Different Degrees of Instrument Adjustment and Wage Persistence”. Carnegie-Rochester Conference Series on Public Policy39: 221–318. doi:10.1016/0167-2231(93)90011-K.
  3. Jump up^ Taylor, John (2012). First Principles: Five Keys to Restoring America’s Economic Prosperity. New York: W.W. Norton & Company, Inc. p. 126
  4. Jump up^ Kahn, George A.; Asso, Pier Francesco; Leeson, Robert (2007). “The Taylor Rule and the Transformation of Monetary Policy”. Federal Reserve Bank of Kansas City Working Paper 07-11SSRN 1088466Freely accessible.
  5. Jump up^ Asso, Pier Francesco; Kahn, George A.; Leeson, Robert (2010). “The Taylor Rule and the Practice of Central Banking”. Federal Reserve Bank of Kansas City Working Paper 10-05SSRN 1553978Freely accessible.
  6. Jump up^ Athanasios Orphanides (2008). “Taylor rules,” The New Palgrave Dictionary of Economics, 2nd Edition. v. 8, pp. 2000-2004, equation (7).Abstract.
  7. Jump up^ Davig, Troy; Leeper, Eric M. (2007). “Generalizing the Taylor Principle”. American Economic Review97 (3): 607–635. JSTOR 30035014doi:10.1257/aer.97.3.607.
  8. Jump up to:a b Clarida, Richard; Galí, Jordi; Gertler, Mark (2000). “Monetary Policy Rules and Macroeconomic Stability: Theory and Some Evidence”. Quarterly Journal of Economics115 (1): 147–180. JSTOR 2586937doi:10.1162/003355300554692.
  9. Jump up^ Lowenstein, Roger (2008-01-20). “The Education of Ben Bernanke”The New York Times.
  10. Jump up^ Bernanke, Ben; Mihov, Ilian (1997). “What Does the Bundesbank Target?”. European Economic Review41 (6): 1025–1053. doi:10.1016/S0014-2921(96)00056-6.
  11. Jump up^ Clarida, Richard; Gertler, Mark; Galí, Jordi (1998). “Monetary Policy Rules in Practice: Some International Evidence”. European Economic Review42 (6): 1033–1067. doi:10.1016/S0014-2921(98)00016-6.
  12. Jump up^ Taylor, John B. (2008). “The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong” (PDF).
  13. Jump up^ Taylor, John B. (2009). Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis. Hoover Institution Press. ISBN 0-8179-4971-2.
  14. Jump up^ Carvalho, Carlos; Nechio, Fernanda (2013). “Do People Understand Monetary Policy?”. Federal Reserve Bank of San Francisco Working Paper 2012-01SSRN 1984321Freely accessible.
  15. Jump up^ Orphanides, A. (2003). “The Quest for Prosperity without Inflation”. Journal of Monetary Economics50 (3): 633–663. doi:10.1016/S0304-3932(03)00028-X.
  16. Jump up^ Bill Gross (July 30, 2015). “Gross: Low rates are the problem, not the solution”CNBC. Retrieved July 30, 2015.

External links

https://en.wikipedia.org/wiki/Taylor_rule

Real interest rate

From Wikipedia, the free encyclopedia

Yields on inflation-indexed government bonds of selected countries and maturities.

The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation. It can be described more formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate.

If, for example, an investor were able to lock in a 5% interest rate for the coming year and anticipated a 2% rise in prices, they would expect to earn a real interest rate of 3%.[1] The expected real interest rate is not a single number, as different investors have different expectations of future inflation. Since the inflation rate over the course of a loan is not known initially, volatility in inflation represents a risk to both the lender and the borrower.

In the case of contracts stated in terms of the nominal interest rate, the real interest rate is known only at the end of the period of the loan, based on the realized inflation rate; this is called the ex-post real interest rate. Since the introduction of inflation-indexed bondsex-ante real interest rates have become observable.[2]

Risks

In economics and finance, an individual who lends money for repayment at a later point in time expects to be compensated for the time value of money, or not having the use of that money while it is lent. In addition, they will want to be compensated for the risks of having less purchasing power when the loan is repaid. These risks are systematic risks, regulatory risks and inflation risks. The first includes the possibility that the borrower will default or be unable to pay on the originally agreed upon terms, or that collateral backing the loan will prove to be less valuable than estimated. The second includes taxation and changes in the law which would prevent the lender from collecting on a loan or having to pay more in taxes on the amount repaid than originally estimated. The third takes into account that the money repaid may not have as much buying power from the perspective of the lender as the money originally lent, that is inflation, and may include fluctuations in the value of the currencies involved.

Nominal interest rates include all three risk factors, plus the time value of the money itself.
Real interest rates include only the systematic and regulatory risks and are meant to measure the time value of money.

The “real interest rate” in an economy is often considered to be the rate of return on a risk free investment, such as US Treasury notes, minus an index of inflation, such as the rate of change of the CPI or GDP deflator.

Fisher equation

The relation between real and nominal interest rates and the expected inflation rate is given by the Fisher equation

{\displaystyle 1+i=(1+r)(1+\pi _{e})}1+i=(1+r)(1+\pi _{e})

where

i = nominal interest rate;
r = real interest rate;
{\displaystyle \pi _{e}}\pi _{e} = expected inflation rate.

For example, if somebody lends $1000 for a year at 10%, and receives $1100 back at the end of the year, this represents a 10% increase in her purchasing power if prices for the average goods and services that she buys are unchanged from what they were at the beginning of the year. However, if the prices of the food, clothing, housing, and other things that she wishes to purchase have increased 25% over this period, she has in fact suffered a real loss of about 15% in her purchasing power. (Notice that the approximation here is a bit rough; since 1.1/1.25 = 0.88 = 1 – 0.12, the actual loss of purchasing power is exactly 12%.

Variations in inflation

The inflation rate will not be known in advance. People often base their expectation of future inflation on an average of inflation rates in the past, but this gives rise to errors. The real interest rate ex-post may turn out to be quite different from the real interest rate (ex-ante real interest rate) that was expected in advance. Borrowers hope to repay in cheaper money in the future, while lenders hope to collect on more expensive money. When inflation and currency risks are underestimated by lenders, then they will suffer a net reduction in buying power.

The complexity increases for bonds issued for a long term, where the average inflation rate over the term of the loan may be subject to a great deal of uncertainty. In response to this, many governments have issued real return bonds, also known as inflation-indexed bonds, in which the principal value and coupon rises each year with the rate of inflation, with the result that the interest rate on the bond approximates a real interest rate. (E.g., the three-month indexation lag of TIPS can result in a divergence of as much as 0.042% from the real interest rate, according to research by Grishchenko and Huang.[3]) In the US, Treasury Inflation Protected Securities (TIPS) are issued by the US Treasury.

The expected real interest rate can vary considerably from year to year. The real interest rate on short term loans is strongly influenced by the monetary policy of central banks. The real interest rate on longer term bonds tends to be more market driven, and in recent decades, with globalized financial markets, the real interest rates in the industrialized countries have become increasingly correlated. Real interest rates have been low by historical standards since 2000, due to a combination of factors, including relatively weak demand for loans by corporations, plus strong savings in newly industrializing countries in Asia. The latter has offset the large borrowing demands by the US Federal Government, which might otherwise have put more upward pressure on real interest rates.

Related is the concept of “risk return”, which is the rate of return minus the risks as measured against the safest (least-risky) investment available. Thus if a loan is made at 15% with an inflation rate of 5% and 10% in risks associated with default or problems repaying, then the “risk adjusted” rate of return on the investment is 0%.

Importance in economic theory

Effective federal funds rate and prescriptions from alternate versions of the Taylor Rule

The amount of physical investment—in particular the purchasing of new machines and other productive capacity—that firms engage in depends on the level of real interest rates, because such purchases typically must be financed by issuing new bonds. If real interest rates are high, the cost of borrowing may exceed the real physical return of some potentially purchased machines (in the form of output produced); in that case those machines will not be purchased. Lower real interest rates would make it profitable to borrow to finance the purchasing of a greater number of machines.

The real interest rate is used in various economic theories to explain such phenomena as the capital flightbusiness cycle and economic bubbles. When the real rate of interest is high, that is, demand for credit is high, then money will, all other things being equal, move from consumption to savings. Conversely, when the real rate of interest is low, demand will move from savings to investment and consumption. Different economic theories, beginning with the work of Knut Wicksell have had different explanations of the effect of rising and falling real interest rates. Thus, international capital moves to markets that offer higher real rates of interest from markets that offer low or negative real rates of interest triggering speculation in equities, estates and exchange rates.

Real federal funds rate

In setting monetary policy, the U.S. Federal Reserve (and other central banks) establish an interest rate at which they lend to banks. This is the federal funds rate. By setting this rate low, they can encourage borrowing and thus economic activity; or the reverse by raising the rate. Like any interest rate, there are a nominal and a real value defined as described above. Further, there is a concept called the “equilibrium real federal funds rate” (r*), alternatively called the “natural rate of interest” or the “neutral real rate”, which is the “level of the real federal funds rate, if allowed to prevail for several years, [that] would place economic activity at its potential and keep inflation low and stable.” There are various methods used to estimate this amount, using tools such as the Taylor Rule. It is possible for this rate to be negative.[4]

Negative real interest rates

The real interest rate solved from the Fisher equation is

{\displaystyle {\frac {1+i}{1+\pi }}-1=r}{\frac {1+i}{1+\pi }}-1=r

If there is a negative real interest rate, it means that the inflation rate is greater than the nominal interest rate. If the Federal funds rate is 2% and the inflation rate is 10%, then the borrower would gain 7.27% of every dollar borrowed per year.

{\displaystyle {\frac {1+0.02}{1+0.1}}-1=-0.0727}{\frac {1+0.02}{1+0.1}}-1=-0.0727

Negative real interest rates are an important factor in government fiscal policy. Since 2010, the U.S. Treasury has been obtaining negative real interest rates on government debt, meaning the inflation rate is greater than the interest rate paid on the debt.[5] Such low rates, outpaced by the inflation rate, occur when the market believes that there are no alternatives with sufficiently low risk, or when popular institutional investments such as insurance companies, pensions, or bond, money market, and balanced mutual funds are required or choose to invest sufficiently large sums in Treasury securities to hedge against risk.[6][7]Lawrence Summers stated that at such low rates, government debt borrowing saves taxpayer money, and improves creditworthiness.[8][9] In the late 1940s through the early 1970s, the US and UK both reduced their debt burden by about 30% to 40% of GDP per decade by taking advantage of negative real interest rates, but there is no guarantee that government debt rates will continue to stay so low.[6][10] Between 1946 and 1974, the US debt-to-GDP ratio fell from 121% to 32% even though there were surpluses in only eight of those years which were much smaller than the deficits.[11]

See also

References

  1. Jump up^ https://docs.google.com/fileview?id=0B_Qxj5U7eaJTZTJkODYzN2ItZjE3Yy00Y2M0LTk2ZmUtZGU0NzA3NGI4Y2Y5&hl=en&pli=1 page 24
  2. Jump up^ “FRB: Speech with Slideshow–Bernanke, Long-Term Interest Rates–March 1, 2013”http://www.federalreserve.gov. Retrieved 2017-03-07.
  3. Jump up^ Grishchenko, Olesya V.; Jing-zhi Huang (June 2012). “Inflation Risk Premium: Evidence from the TIPS Market” (PDF). Finance and Economics Discussion Series. Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Retrieved 26 May 2013.
  4. Jump up^ U.S. Federal Reserve-Remarks by Vice Chairman Roger W. Ferguson Jr. October 29, 2004
  5. Jump up^ Saint Louis Federal Reserve (2012) “5-Year Treasury Inflation-Indexed Security, Constant Maturity” FRED Economic Data chart from government debt auctions (the x-axis at y=0 represents the inflation rate over the life of the security)
  6. Jump up to:a b Carmen M. Reinhart and M. Belen Sbrancia (March 2011) “The Liquidation of Government Debt” National Bureau of Economic Research working paper No. 16893
  7. Jump up^ David Wessel (August 8, 2012) “When Interest Rates Turn Upside Down” Wall Street Journal (full text)
  8. Jump up^ Lawrence Summers (June 3, 2012) “Breaking the negative feedback loop” Reuters
  9. Jump up^ Matthew Yglesias (May 30, 2012) “Why Are We Collecting Taxes?” Slate
  10. Jump up^ William H. Gross (May 2, 2011) “The Caine Mutiny (Part 2)”PIMCO Investment Outlook
  11. Jump up^ “Why the U.S. Government Never, Ever Has to Pay Back All Its Debt” The Atlantic, February 1, 2013

External links

https://en.wikipedia.org/wiki/Real_interest_rate

John B. Taylor

From Wikipedia, the free encyclopedia
John Taylor
JohnBTaylor.jpg
Personal details
Born John Brian Taylor
December 8, 1946 (age 70)
Yonkers, New YorkU.S.
Political party Republican
Education Princeton University (BA)
Stanford University (PhD)
Academic career
Field Monetary economics
School or
tradition
New Keynesian economics
Doctoral
advisor
Theodore Wilbur Anderson[1]
Doctoral
students
Lawrence J. Christiano
Influences Milton Friedman
Paul Volcker
E. Philip Howrey
Alan Greenspan
Contributions Taylor rule
Information at IDEAS / RePEc

John Brian Taylor (born December 8, 1946) is the Mary and Robert Raymond Professor of Economics at Stanford University, and the George P. Shultz Senior Fellow in Economics at Stanford University’s Hoover Institution.[2]

Born in Yonkers, New York, he graduated from Shady Side Academy[3] and earned his A.B. from Princeton University in 1968 and Ph.D. from Stanford in 1973, both in economics. He taught at Columbia University from 1973–1980 and the Woodrow Wilson School and Economics Department of Princeton University from 1980–1984 before returning to Stanford. He has received several teaching prizes and teaches Stanford’s introductory economics course as well as Ph.D. courses in monetary economics.[4]

In research published in 1979 and 1980 he developed a model of price and wage setting—called the staggered contract model—which served as an underpinning of a new class of empirical models with rational expectations and sticky prices—sometimes called new Keynesian models.[5][6] In a 1993 paper he proposed the Taylor rule,[7] intended as a recommendation about how nominal interest rates should be determined, which then became a rough summary of how central banks actually do set them. He has been active in public policy, serving as the Under Secretary of the Treasury for International Affairs during the first term of the George W. Bush Administration. His book Global Financial Warriors chronicles this period.[8] He was a member of the President’s Council of Economic Advisors during the George H. W. Bush Administration and Senior Economist at the Council of Economic Advisors during the Ford and Carter Administrations.

In 2012 he was included in the 50 Most Influential list of Bloomberg Markets Magazine. Thomson Reuters lists Taylor among the ‘citation laureates‘ who are likely future winners of the Nobel Prize in Economics.[9]

Academic contributions

Taylor’s research—including the staggered contract model, the Taylor rule, and the construction of a policy tradeoff (Taylor) curve[10] employing empirical rational expectations models[11]—has had a major impact on economic theory and policy.[12] Former Federal Reserve Chairman Ben Bernanke has said that Taylor’s “influence on monetary theory and policy has been profound,”[13] and Federal Reserve Chair Janet Yellen has noted that Taylor’s work “has affected the way policymakers and economists analyze the economy and approach monetary policy.”[14]

Taylor contributed to the development of mathematical methods for solving macroeconomic models under the assumption of rational expectations, including in a 1975 Journal of Political Economy paper, in which he showed how gradual learning could be incorporated in models with rational expectations;[15] a 1979 Econometrica paper in which he presented one of the first econometric models with overlapping price setting and rational expectations,[16] which he later expanded into a large multicountry model in a 1993 book Macroeconomic Policy in a World Economy,[11] and a 1983 Econometrica paper,[17] in which he developed with Ray Fair the first algorithm to solve large-scale dynamic stochastic general equilibrium models which became part of popular solution programs such as Dynare and EViews.[18]

In 1977, Taylor and Edmund Phelps, simultaneously with Stanley Fischer, showed that monetary policy is useful for stabilizing the economy if prices or wages are sticky, even when all workers and firms have rational expectations.[19] This demonstrated that some of the earlier insights of Keynesian economics remained true under rational expectations. This was important because Thomas Sargent and Neil Wallace had argued that rational expectations would make macroeconomic policy useless for stabilization;[20] the results of Taylor, Phelps, and Fischer showed that Sargent and Wallace’s crucial assumption was not rational expectations, but perfectly flexible prices.[21] These research projects together could considerably deepen our understanding of the limits of the policy-ineffectiveness proposition.[22]

Taylor then developed the staggered contract model of overlapping wage and price setting, which became one of the building blocks of the New Keynesian macroeconomics that rebuilt much of the traditional macromodel on rational expectations microfoundations.[23][24]

Taylor’s research on monetary policy rules traces back to his undergraduate studies at Princeton.[25][26] He went on in the 1970s and 1980s to explore what types of monetary policy rules would most effectively reduce the social costs of inflation and business cycle fluctuations: should central banks try to control the money supply, the price level, or the interest rate; and should these instruments react to changes in output, unemployment, asset prices, or inflation rates? He showed[27] that there was a tradeoff—later called the Taylor curve[28]—between the volatility of inflation and that of output. Taylor’s 1993 paper in the Carnegie-Rochester Conference Series on Public Policy proposed that a simple and effective central bank policy would manipulate short-term interest rates, raising rates to cool the economy whenever inflation or output growth becomes excessive, and lowering rates when either one falls too low.[7] Taylor’s interest rate equation has come to be known as the Taylor rule, and it is now widely accepted as an effective formula for monetary decision making.[29]

A key stipulation of the Taylor rule, sometimes called the Taylor principle,[30] is that the nominal interest rate should increase by more than one percentage point for each one-percent rise in inflation. Some empirical estimates indicate that many central banks today act approximately as the Taylor rule prescribes, but violated the Taylor principle during the inflationary spiral of the 1970s.[31]

Recent research

Taylor’s recent research has been on the financial crisis that began in 2007 and the world economic recession. He finds that the crisis was primarily caused by flawed macroeconomic policies from the U.S. government and other governments. Particularly, he focuses on the Federal Reserve which, under Alan Greenspan, a personal friend of Taylor, created “monetary excesses” in which interest rates were kept too low for too long, which then directly led to the housing boom in his opinion.[32] He also believes that Freddie Mac and Fannie Mae spurred on the boom and that the crisis was misdiagnosed as a liquidity rather than a credit risk problem.[33] He wrote that, “government actions and interventions, not any inherent failure or instability of the private economy, caused, prolonged, and worsen the crisis.”[34]

Taylor’s research has also examined the impact of fiscal policy in the recent recession. In November 2008, writing for The Wall Street Journal opinion section, he recommended four measures to fight the economic downturn: (a) permanently keeping all income tax ratesthe same, (b) permanently creating a worker’s tax credit equal to 6.2 percent of wages up to $8,000, (c) incorporating “automatic stabilizers” as part of overall fiscal plans, and (d) enacting a short-term stimulus plan that also meets long term objectives against waste and inefficiency. He stated that merely temporary tax cuts would not serve as a good policy tool.[35] His research[36] with John Cogan, Tobias Cwik, and Volcker Wieland showed that the multiplier is much smaller in new Keynesian than in old Keynesian models, a result that was confirmed by researchers at central banks.[37] He evaluated the 2008 and 2009 stimulus packages and argued that they were not effective in stimulating the economy.[38]

In a June 2011 interview on Bloomberg Television, Taylor stressed the importance of long term fiscal reform that sets the U.S. federal budget on a path towards being balanced. He cautioned that the Fed should move away from quantitative easing measures and keep to a more static, stable monetary policy. He also criticized fellow economist Paul Krugman‘s advocacy of additional stimulus programs from Congress, which Taylor said will not help in the long run.[39] In his 2012 book First Principles: Five Keys to Restoring America’s Prosperity, he endeavors to explain why these reforms are part of a broader set of principles of economic freedom.

Selected publications

Reprinted in Taylor, John B. (1991), “Staggered wage setting in a macro model”, in Mankiw, N. Gregory; Romer, David, New Keynesian economics, volume 1, Cambridge, Massachusetts: MIT Press, pp. 233–42, ISBN 9780262631334.
  • Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”. EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962.
  • Taylor, John B. (December 1980). “Scale economies, product differentiation, and the pattern of trade”. The American Economic ReviewAmerican Economic Association70 (5): 950–59. JSTOR 1805774. Pdf.
  • Taylor, John B. (1986), ‘New econometric approaches to stabilization policy in stochastic models of macroeconomic fluctuations’. Ch. 34 of Handbook of Econometrics, vol. 3, Z. Griliches and M.D. Intriligator, eds. Elsevier Science Publishers.
  • Taylor, John B. (December 1993). “Discretion versus policy rules in practice”Carnegie-Rochester Conference Series on Public PolicyElsevier39: 195–214. doi:10.1016/0167-2231(93)90009-L. Pdf.
  • Taylor, John B. (1999), “An historical analysis of monetary policy rules”, in Taylor, John B., Monetary policy rules, Chicago: University of Chicago Press, ISBN 9780226791265.
  • Taylor, John B. (2007). Global financial warriors: the untold story of international finance in the post-9/11 world. New York: W.W. Norton. ISBN 9780393064483.
  • Taylor, John B. (2008), “Housing and monetary policy”, in Reserve Bank of Kansas City, Housing, housing finance, and monetary policy: a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 30-September 1, 2007, Kansas City, Missouri: Reserve Bank of Kansas City, pp. 463–76, OCLC 170267547
  • Taylor, John B. (2009), “The financial crisis and the policy response: an empirical analysis of what went wrong”, in Bank of Canada Staff, Festschrift in honour of David Dodge’s contributions to Canadian public policy: proceedings of a conference held by the Bank of Canada, November, 2008, Ottawa: Bank of Canada, pp. 1–18, ISBN 9780660199276.
  • Taylor, John B. (2009). Getting off track: how government actions and interventions caused, prolonged, and worsened the financial crisis. Stanford, California: Hoover Institution Press. ISBN 9780817949716.
  • Taylor, John B.; Shultz, George P.; Scott, Kenneth, eds. (2009). Ending government bailouts as we know them. Stanford, California: Hoover Institution Press. ISBN 9780817911287.
  • Taylor, John B.; Ryan, Paul D. (30 November 2010). “Refocus the Fed on price stability instead of bailing out fiscal policy”Investor’s Business Daily. Archived from the original on 13 April 2011.
  • Taylor, John B. (2012). First principles: five keys to restoring America’s prosperity. New York: W.W. Norton. ISBN 9780393345452.

See also

Further reading

References

  1. Jump up^ Taylor, John B. (September 24, 2016). “The Statistical Analysis of Policy Rules”economicsone.com. Economics One (A blog by John B. Taylor). Retrieved October 2, 2016.
  2. Jump up^ “Hoover Institution Senior Fellow: Biography”Hoover Institution. Retrieved 27 October 2011.
  3. Jump up^ “Notable alumni”shadysideacademy.orgShady Side Academy.
  4. Jump up^ Taylor, John B. “Curriculum vitae” (pdf). Stanford University.
  5. Jump up^ Taylor, John B. (May 1979). “Staggered wage setting in a macro model”. The American Economic ReviewAmerican Economic Association69 (2): 108–113. JSTOR 1801626.
    Reprinted in Taylor, John B. (1991), “Staggered wage setting in a macro model”, in Mankiw, N. Gregory; Romer, David, New Keynesian economics, volume 1, Cambridge, Massachusetts: MIT Press, pp. 233–242, ISBN 9780262631334.
  6. Jump up^ Taylor, John B. (February 1980). “Aggregate dynamics and staggered contracts”Journal of Political EconomyChicago Journals88 (1): 1–23. JSTOR 1830957doi:10.1086/260845.
  7. Jump up to:a b Taylor, John B. (December 1993). “Discretion versus policy rules in practice”Carnegie-Rochester Conference Series on Public PolicyElsevier39: 195–214. doi:10.1016/0167-2231(93)90009-L. Pdf.
  8. Jump up^ Taylor, John B. (2007). Global financial warriors: the untold story of international finance in the post-9/11 world. New York: W.W. Norton. ISBN 9780393064483.
  9. Jump up^ “Hall of ‘citation laureates’ (in economics)”science.thomsonreuters.com. Thomson-Reuters.
  10. Jump up^ Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962. Pdf.
    Reprinted in Taylor, John B. (1981), “Estimation and control of a macroeconomic model with rational expectations”, in Lucas, Jr., Robert E.; Sargent, Thomas J., Rational expectations and econometric practice, Minneapolis: University of Minnesota Press, ISBN 9780816610983.
  11. Jump up to:a b Taylor, John B. (1993). Macroeconomic policy in a world economy: from econometric design to practical operation. New York: W.W. Norton. ISBN 9780393963168.
  12. Jump up^ Ben Bernanke refers to the “three concepts named after John that are central to understanding our macroeconomic experience of the past three decades—the Taylor curve, the Taylor rule, and the Taylor principle.” in “Opening Remarks,” Conference on John Taylor’s Contributions to Monetary Theory and Policy
  13. Jump up^ Bernanke, Ben (2007). Opening Remarks. Remarks at the Conference on John Taylor’s Contributions to Monetary Theory and Policy.
  14. Jump up^ Yellen, Janet (2007). Policymaker Roundtable (PDF).Remarks at the Conference on John Taylor’s Contributions to Monetary Theory and Policy.
  15. Jump up^ Taylor, John B. (October 1975). “Monetary policy during a transition to rational expectations”Journal of Political EconomyChicago Journals83 (5): 1009–22. JSTOR 1830083doi:10.1086/260374.
  16. Jump up^ Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”. EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962.
  17. Jump up^ Taylor, John B.; Fair, Ray C. (July 1983). “Solution and maximum likelihood estimation of dynamic nonlinear rational expectations models”EconometricaWiley51 (4): 1169–85. JSTOR 1912057doi:10.2307/1912057.
  18. Jump up^ Judd, Kenneth; Kubler, Felix; Schmedders, Karl (2003), “Computational methods for dynamic equilibria with heterogeneous agents”, in Dewatripont, Mathias; Hansen, Lars Peter; Turnovsky, Stephen J., Advances in economics and econometrics theory and applications (volume 3), Cambridge, U.K. New York: Cambridge University Press, p. 247, ISBN 9781280163388 and “Eviews Users Guide II.”
  19. Jump up^ Taylor, John B.; Phelps, Edmund S. (February 1977). “Stabilizing powers of monetary policy under rational expectations”Journal of Political EconomyChicago Journals85 (1): 163–90. JSTOR 1828334doi:10.1086/260550.
  20. Jump up^ Sargent, Thomas; Wallace, Neil (April 1975). “‘Rational’ expectations, the optimal monetary instrument, and the optimal money supply rule”Journal of Political EconomyChicago Journals83 (2): 241–54. JSTOR 1830921doi:10.1086/260321.
  21. Jump up^ Blanchard, Olivier (2000), “Epliogue”, in Blanchard, Olivier, Macroeconomics (2nd ed.), Upper Saddle River, New Jersey: Prentice-Hall, p. 543, ISBN 9780130557872.
  22. Jump up^ Galbács, Peter (2015). The theory of new classical macroeconomics: a positive critique. Heidelberg / New York / Dordrecht / London: Springer. ISBN 9783319175782doi:10.1007/978-3-319-17578-2.
  23. Jump up^ King, Robert G.; Wolman, Alexander (1999), “What should the monetary authority do when prices are sticky?”, in Taylor, John B., Monetary policy rules, Chicago: University of Chicago Press, ISBN 9780226791265.
  24. Jump up^ Taylor, John B. (1999), “Staggered price and wage setting in macroeconomics”, in Taylor, John B.; Woodford, Michael, Handbook of macroeconomics, Amsterdam New York: North-Holland Elsevier, pp. 1009–50, ISBN 9780444501585.
  25. Jump up^ Taylor, John B. (April 1968). Fiscal and monetary stabilization policies in a model of endogenous cyclical growth (BA thesis). Princeton University.
  26. Jump up^ Taylor, John B. (October 1968). “Fiscal and monetary stabilization policies in a model of endogenous cyclical growth”(pdf). Research Memorandum No. 104. Econometric Research Program, Princeton University. OCLC 22687344.
  27. Jump up^ Taylor, John B. (September 1979). “Estimation and control of a macroeconomic model with rational expectations”EconometricaWiley47 (5): 1267–86. JSTOR 1911962doi:10.2307/1911962.
  28. Jump up^ Bernanke, Ben (2004). The Great Moderation. Remarks at the meeting of the Eastern Economic Association.
  29. Jump up^ Orphanides, Athanasios (2007). Taylor rules (pdf). Finance and Economics Discussion Series 2007–18. Federal Reserve Board.
  30. Jump up^ Davig, Troy; Leeper, Eric M. (June 2007). “Generalizing the Taylor Principle”. The American Economic ReviewAmerican Economic Association97 (3): 607–35. JSTOR 30035014.NBER Working Paper 11874, December 2005.
  31. Jump up^ Clarida, Richard; Galí, Jordi; Gertler, Mark (February 2000). “Monetary policy rules and macroeconomic stability: evidence and some theory”Quarterly Journal of EconomicsOxford Journals115 (1): 147–80. doi:10.1162/003355300554692. Pdf.
  32. Jump up^ Taylor, John B. (2008), “Housing and monetary policy”, in Reserve Bank of Kansas City, Housing, housing finance, and monetary policy: a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 30-September 1, 2007, Kansas City, Missouri: Reserve Bank of Kansas City, pp. 463–76, OCLC 170267547
  33. Jump up^ Taylor, John B. (2009), “The financial crisis and the policy response: an empirical analysis of what went wrong (housing and monetary policy)”, in Bank of Canada Staff, Festschrift in honour of David Dodge’s contributions to Canadian public policy: proceedings of a conference held by the Bank of Canada, November, 2008, Ottawa: Bank of Canada, pp. 1–18, ISBN 9780660199276.
  34. Jump up^ Taylor, John B. (February 9, 2009). “How government created the financial crisis”The Wall Street Journal. p. A19. Pdf.
  35. Jump up^ Taylor, John B. (November 25, 2008). “Why permanent tax cuts are the best stimulus”The Wall Street Journal. Retrieved June 30, 2011.
  36. Jump up^ Taylor, John B.; Cogan, John F.; Cwik, Tobias; Wieland, Volker (March 2010). “New Keynesian versus old Keynesian government spending multipliers”Journal of Economic Dynamics and ControlElsevier34 (3): 281–95. doi:10.1016/j.jedc.2010.01.010.
  37. Jump up^ Coenen, Guenter; et al. (September 2011). “Effects of fiscal stimulus in structural models”American Economic Journal: MicroeconomicsAmerican Economic Association4 (1): 22–68. doi:10.1257/mac.4.1.22. Pdf.
  38. Jump up^ Taylor, John B. (September 2011). “An empirical analysis of the revival of fiscal activism in the 2000s”Journal of Economic LiteratureAmerican Economic Association49 (3): 686–702. JSTOR 23071727doi:10.1257/jel.49.3.686. Pdf.
  39. Jump up^ “Taylor Says U.S. Needs `Sound’ Monetary, Fiscal Policies”Bloomberg Television thru Washington Post. June 27, 2011. Retrieved June 30, 2011.

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