The Pronk Pops Show 1320, September 16, 2019, Story 1: Oil Prices Spike After Iran Backed Houthi Rebel Drone Strike on Saudi Arabia’s Biggest Oil Refinery and Shut Down of Oil Production– United States Accuses Iran For The Drone Attack With Evidence — Videos — Story 2: Morally Bankrupt New York Times Smear Campaign of Lies Against Supreme Court Justice Brett Kavanaugh — No Victim and No Witnesses — Big Lie Media — Junk Journalism — Videos — Story 3: U.S. Federal Government Record Government Spending Exceeds $4 Trillion and Rising — Videos —

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Tensions are running high in the region after attacks in June and July on oil tankers in Gulf waters that Riyadh and Washington blamed on IranSee the source imageSee the source imageSee the source image

See the source image

See the source image

See the source image

See the source image

 

Story 1: Oil Prices Spike After Iran Backed Houthi Rebel Drone Strike on Saudi Arabia’s Biggest Oil Refinery and Oil Field and Shut Down of Oil Production– Videos

UPDATED: September 18, 2019

Senior U.S. official says missiles fired on Saudi oil plant were launched from Iran

President Trump: Looks like Iran was responsible for Saudi oil attack

US says Iran attacked Saudi oil refineries, Yemen rebels say they did – so who was it? | ABC News

Yemeni rebel drones spark fires at two Saudi Aramco oil facilities

Saudi Arabia slashing oil output after drone strikes: Report

Fears for global oil prices after drone attack on Saudi refineries | Nine News Australia

Drones hit 2 Saudi Aramco oil facilities, causes fires

Saudi Arabia’s oil output decimated by drone attack

Trump points finger at Iran for Saudi oil attacks

Crown Prince Salman Bin Hamad Al Khalifa visits the White House amid Trump’s push for an international pressure campaign against Iran.

Gidley on Iran agenda, Kavanaugh attacks, Lewandowski testimony

Questions raised about whether Iran is to blame for Saudi Arabia attack

 

Pompeo: Iran to blame for Houthi attack on Saudi oil facilities

Houthi rebels claim drone attack on Saudi Arabia oil facility

Yemen’s Houthi group vows to strike 300 targets in Saudi Arabia, UAE

Saudi Arabia: major fire at world’s largest oil refinery after drone attack

History of US-Iran Conflict Explained

The Middle East’s cold war, explained

Why are Iran and Saudi Arabia enemies?

Why Are Saudi Arabia And The U.S. Allies?

Israel and the Gulf: an unholy alliance?

Why the US and Iran are fighting over this tiny waterway

Can Iran Stop the US? A look at Irans Defenses

Iran vs Saudi Arabia – Who Would Win? (Military / Army Comparison)

Saudi Arabia’s Emergency Arab Summit

How the Saudis ended up with so many American weapons

UNITED STATES vs ARAB LEAGUE – Military Power Comparison ✪ 2018

Crucifixion, beheading: Saudi Arabia carries out executions

Arab League States [Population/Economic/Military] Comparison (1960~2018)

 

Attack on Saudi oil plant WAS launched from Iranian base near Iraq, US investigators conclude – as experts study images of missile wreckage and video of ‘drones flying south towards their target’

  • Saudi Arabian oil supply blown up in what Yemen’s Houthis called a drone attack 
  • US investigators have concluded that drones and missiles were fired from an Iranian air base near the border with Iraq, source said
  • Officials believe the missiles flew over southern Iraq and Kuwaiti airspace to avoid powerful radar in Persian Gulf, before striking their targets 
  • Experts are studying video from Kuwait which seems to record sound of missiles overhead, and image of what appears to be missile wreck in Saudi desert  
  • Analysts say the missile appears to be a Quds-1, which would rule out Yemen as a launch site and strongly suggest Iraq, Iran or a boat in the Persian Gulf
  • Saudi has also blamed Iran, and says it is ready to ‘forcefully respond’ to attack
  • Iran’s foreign minister said that Washington was ‘in denial’ by blaming Tehran 

America has concluded that weekend attacks on two Saudi oil facilities were launched from Iranian soil and cruise missiles were involved, an official said today.

The official, who declined to be identified, said the United States was gathering evidence about the attack to present to the international community, notably European allies, at the UN General Assembly next week.

Another source, who spoke to CNN, said the attack involved a mixture of drones and missiles launched from an Iranian base near Iraq, flying at low altitude through Iraqi and Kuwaiti airspace to avoid radar detection, before striking the Abqaiq refinery and Khurais oil field in Saudi Arabia.

Kuwaiti officials have already launched an investigation into two videos that seemed to record the sound of projectiles flying over their territory shortly before the Saudi targets were struck.

The source also told CNN that investigators are studying wreckage of at least one missile that failed to hit its target that was recovered from the Saudi desert.

An image which appears to show that missile has been circulating on Saudi social media, and has been examined by weapon analysts who say its design could rule out Yemen as a launch site, with either Iraq or Iran as more likely possibilities. 

If it can be proven that the attack originated in Iran, there are fears it could spark a new Gulf War. 

Donald Trump has refused to rule out military action once the source of the attack has been proven, while Saudi Arabia has said it is ready to ‘forcefully respond’.

US investigators say they have concluded that an attack on Saudi oil facilities was launched from Iran. As part of their investigation, they have been studying the wreckage of a missile recovered from the desert that failed to hit its target. Pictured is the wreckage of a missile that was posted on Saudi social media shortly after the attack

An image of the Quds-1 missile which was released by the Houthi group in July, when they unveiled the weapon. It is similar to two Iranian designs - the Soumar and Ya Ali

An image of the Quds-1 missile which was released by the Houthi group in July, when they unveiled the weapon. It is similar to two Iranian designs – the Soumar and Ya Ali

Vice President Mike Pence said Tuesday that the United States is evaluating evidence on the attacks on Saudi oil facilities and stands read to defend its interests and allies in the Middle East.

In other developments…

  • The Saudi ministry of foreign affairs insisted it ‘has the capability and resolve to defend its land and people, and to forcefully respond to these aggressions’ 
  • Saudi Arabia also called on nations to ‘shoulder their responsibility in condemning the perpetrators’ and ‘clearly confronting’ those behind an attack 
  • The kingdom said its oil production could be fully online again within two to three weeks 
  • Trump said it ‘looks like’ Iran was behind the attacks but stressed that military retaliation was not yet on the table 
  • Washington confirmed it is exchanging intelligence with Saudi Arabia which it says points to Iran being responsible 
  • Iran’s Supreme Leader Ayatollah Ali Khamenei said Tehran will never hold talks with US, killing off hopes of discussions between Trump and Hassan Rouhani
  • The chair of the UN Security Council said the attack was ‘unanimously and unequivocally condemned’ by all 15 members
  • Iran’s President Hassan Rouhani said the attack was a ‘legitimate defense and counterattack’ against the Saudi-led war in Yemen
  • The Islamic Republic’s foreign minister said Washington was ‘in denial’ by pointing the finger of blame at Tehran.  

Officially, Iran-backed Houthi rebels fighting against Saudi Arabia in Yemen have claimed responsibility for the blasts – which knocked out 5 per cent of the world’s oil supply – saying they used drones.

But Fabian Hinz, of the James Martin Center for Nonproliferation Studies, analysed an image of the wreckage and says it clearly shows a cruise missile, not a drone.

He added that the weapon shown is likely a short-range Quds-1 missile, a Houthi weapon which was unveiled by the group in July this year.

The missile is based on the Iranian Soumar design, which has a range of some 840 miles, but the Houthi version has a smaller body – meaning less space for fuel – and is fitted with a less-efficient engine.

Because of this, Mr Hinz writes, it is unlikely the missile could have reached either the Abqaiq refinery or the Khurais oil field if it had been fired from Houthi-controlled territory in Yemen.

However, he stressed that information around the attack is still emerging, that the image has not been independently verified, and his analysis is purely speculation based on that image.

He did say that the image appears to be new and does not appear to have been digitally altered.

When a Quds-1 was used to attack Saudi Arabia’s Abha Airport in June, the Saudis  initially mistook it for an Iranian Ya Ali cruise missile, suggesting it could have similar specifications. 

The Ya Ali missile has a estimated range of 435 miles, which would also rule out Yemen as a launch site, with Iran and Iraq also likely launch sites. 

Washington has released satellite images which it claims shows damage on the Saudi oil refinery which is consistent with an attack from the north or northwest, in the direction of Iran and Iraq, rather than Yemen to the south

Analysts also said that the pattern of precision damage on the facility is consistent with guided missile attacks, rather than drones

Damage is shown at the Khurais oil field, which was also struck in Saturday's attacks

Damage is shown at the Khurais oil field, which was also struck in Saturday’s attacks

He also notes that, while the Quds-1 is thought to have been developed with help from Iran, it is a Houthi weapon and has never be seen in Iran itself, raising doubts over whether it could have been fired from there.

The Houthis have used the Quds-1 in combat themselves, most recently in an attack on Abha Airport in southern Saudi Arabia which wounded 26.

In that instance, the Houthis claimed responsibility and admitted using the missile, begging the question of why they would omit that detail this time around.

Quds-1 missile 

Unveiled by Houthi rebels in July, the Quds-1 is a cruise missile which appears to be based on the Iranian Soumar design.

While we know nothing of its specifications, we do know it was used in an attack on Saudi Arabia’s Abha Airport in June.

Pieces of the missile recovered by Saudi Arabia showed it uses a TJ-100 jet engine or near-replica, which uses up more fuel than its Iranian equivalent.

The Quds-1 fuselage is also significantly smaller than the Iranian Soumar missile, meaning it has less space for fuel.

Because of this, it almost certainly has a smaller range, though how much smaller is unclear.

But even a small reduction in the Soumar’s 840mile range would put the Saudi oil facilities attacked at the weekend outside of its capabilities, meaning – if the image is genuine – then the launch site would have to be outside Yemen.

On Monday, the White House released satellite imagery which it said indicated the attack came from either Iran or Iraq – where Iran has been training militia groups – because the position of blast marks was located on the north or northwest of the structures, in the direction of those two countries and away from Yemen.

American officials also told the Wall Street Journal that they have shared intelligence with Riyadh indicating that Iran was the staging ground for devastating drone attacks on Saudi Arabia’s oil installations.

The US assessment determined that ‘Iran launched more than 20 drones and at least a dozen missiles,’ according to unnamed sources.

‘But Saudi officials said the US didn’t provide enough to conclude that the attack was launched from Iran, indicating the US information wasn’t definitive,’ the WSJ added.

‘US officials said they planned to share more information with the Saudis in the coming days.’

However, an analysis by the New York Times shows at least some of the blast marks faced west, which is not in the direction of any of those countries.

Experts also said cruise missiles and drones can be directed to turn around on their targets, hitting them in the opposite direction from which they were fired.

The near-symmetrical pattern of blast-marks on the buildings do appear consistent with guided missiles rather than drones, they noted, which tallies with Washington’s account of the attacks.

Meanwhile, a former US diplomat said Saudi Arabia has ‘great deal of explaining to do’ over how its oilfields were hit, disrupting global supplies, despite it possessing state-of-the-art military technology, much of it bought from America.

The attacks have knocked out half of Saudi Arabia's oil supply and 5 per cent of global supplies, leading to fear of fuel price rises

Donald Trump tweeted Sunday to say that US is 'locked and loaded depending on verification', suggesting he was waiting for Riyadh's confirmation before acting

 

Donald Trump tweeted Sunday to say that US is ‘locked and loaded depending on verification’, suggesting he was waiting for Riyadh’s confirmation before acting

Gary Grappo, former US ambassador to Oman, told CNBC: I think the Saudi leadership has a great deal of explaining to do.

‘A country that ranks third in terms of total defence spending… was not able to defend its most critical oil facility from these kinds of attacks.

‘They had to be able to see that this was a strong possibility given the previous attacks they’ve experienced in previous oil facility, airports and elsewhere.’

Saudi Arabia says its initial investigations indicate that Iranian weapons were used in attacks on key oil installations and it ‘will invite U.N. and international experts to view the situation on the ground and to participate in the investigations.’

A statement from the Saudi Ministry of Foreign Affairs on Monday says, ‘The kingdom will take the appropriate measures based on the results of the investigation, to ensure its security and stability.’

Saudi Arabia's Colonel Turki al-Malki said drone strikes against two of his country's oil facilities at the weekend did not come from Yemen, and pointed the finger directly at Tehran

Saudi Arabia’s Colonel Turki al-Malki said drone strikes against two of his country’s oil facilities at the weekend did not come from Yemen, and pointed the finger directly at Tehran

Russia’s U.N. ambassador, who currently chairs the U.N. Security Council, says the attacks on key Saudi oil installations were ‘unanimously and unequivocally condemned’ by all 15 council members.

Vassily Nebenzia said after a council meeting on Yemen on Monday that ‘it is inadmissible that civil objects and socio-economic infrastructure are being targeted.’Iran’s president says weekend drone attacks claimed by Yemeni rebels on major oil sites in Saudi Arabia were a ‘legitimate defense and counterattack’ against the Saudi-led war in Yemen.

Iranian state TV broadcast Hassan Rouhani’s comments to reporters Monday during a summit in Turkey to discuss the war in Syria with the Russian and Turkish leaders.

Rouhani said: ‘Regarding the drones attack, this problem has its root in invading Yemen. They (the Saudi-led coalition) are bombing Yemen on a daily basis.’

The attack has led to fears that action on any side could rapidly escalate a confrontation that has been raging just below the surface in the wider Persian Gulf in recent months.

Just last week there were hopes of deescalation following the departure of National Security Adviser John Bolton and the suggestion of talks between Trump and Hassan Rouhani on the sidelines of an upcoming UN summit.

But Washington has now rubbished the idea of talks and put the option of military action firmly back on the table.

It comes after a summer which saw attacks on oil tankers that Washington blames on Tehran, at least one suspected Israeli strike on Shiite forces in Iraq, and the downing of a US military surveillance drone by Iran.

Stalling 5.7million barrels of oil per day marks the single largest disruption to global oil supplies in history, topping the start of the Iranian revolution in 1979

Stalling 5.7million barrels of oil per day marks the single largest disruption to global oil supplies in history, topping the start of the Iranian revolution in 1979

Those tensions have increased ever since Mr Trump pulled the US out of Iran’s 2015 agreement with world powers that curtailed its nuclear activities and the US re-imposed sanctions on the country that sent its economy into freefall.

Benchmark Brent crude gained nearly 20 per cent in the first moments of trading Monday before settling down to over 10 per cent higher as trading continued.

That spike represented the biggest percentage value jump in Brent crude since the run-up to the 1991 Gulf War that saw a US-led coalition expel Iraqi dictator Saddam Hussein’s forces from Kuwait.

The attack halted production of 5.7 million barrels of crude a day, more than half of Saudi Arabia’s global daily exports and more than 5% of the world’s daily crude oil production. Most of that output goes to Asia.

At 5.7 million barrels of crude oil a day, the Saudi disruption would be the greatest on record for world markets, according to figures from the Paris-based International Energy Agency (IEA).

It just edges out the 5.6 million-barrels-a-day disruption around the time of Iran’s 1979 Islamic Revolution, according to the IEA.

Saudi Arabia has pledged that its stockpiles would keep global markets supplied as it rushes to repair damage at the Abqaiq facility and its Khurais oil field.

However, Saudi Aramco has not responded publicly to questions about its facilities.

Yemen’s Houthi rebels, who have been targeted by a Saudi-led coalition since March 2015 in a vicious war in the Arab world’s poorest country, maintain they launched 10 drones that caused the extensive damage.

Iraqi premier Adel Abdel-Mahdi said he received a call on Monday from US Secretary of State Mike Pompeo, who confirmed that the attack did not come from Iraq.

The State Department did not immediately acknowledge what was discussed.

Iranian Foreign Ministry spokesman Abbas Mousavi again denied the US claims on Monday, telling journalists the accusation was ‘condemned, unacceptable and categorically baseless’.

Saudi Oil Attack Is the Big One

The technological sophistication and audacity of Saturday’s attack will linger over the energy market

Smoke billowed from an Aramco oil facility in Abqaiq, in Saudi Arabia’s eastern province, where attacks sparked fires Saturday. PHOTO:-/AGENCE FRANCE-PRESSE/GETTY IMAGES

Saturday’s attack on a critical Saudi oil facility will almost certainly rock the world energy market in the short term, but it also carries disturbing long-term implications.

Ever since the dual 1970s oil crises, energy security officials have fretted about a deliberate strike on one of the critical choke points of energy production and transport. Sea lanes such as the Strait of Hormuz usually feature in such speculation. The facility in question at Abqaiq is perhaps more critical and vulnerable. The Wall Street Journal reported that 5.7 million barrels a day of output, or some 5% of world supply, had been taken offline as a result.

To illustrate the importance of Abqaiq in the oil market’s consciousness, an unsuccessful terrorist attack in 2006 using explosive-laden vehicles sent oil prices more than $2.00 a barrel higher. Saudi Arabia is known to spend billions of dollars annually protecting ports, pipelines and processing facilities, and it is the only major oil producer to maintain some spare output. Yet the nature of the attack, which Iranian-supported Houthi fighters from Yemen claimed was the result of an attack by their forces, shows that protecting such facilities may be far more difficult today. U.S. officials blamed Iran and U.S. and Saudi officials were investigating the possibility that another Iranian-backed group carried out all or part of the attack using cruise missiles launched from Iraq. Iranian officials on Sunday denied responsibility for the attacks.

There are countries that even today see their output ebb and flow as a result of militant activity, most notably Nigeria and Libya. Others, such as Venezuela, are in chronic decline due to political turmoil. Such news affects the oil price at the margin but is hardly shocking.

Deliberate attacks by actual military forces have been far rarer, with the exception of the 1980s “Tanker War” involving Iraq, Iran and the vessels of other regional producers such as Kuwait. When Saddam Hussein’s Iraqi forces invaded Kuwait in 1990, removing its production from the market and putting Saudi Arabia’s massive crude output under threat, prices more than doubled over two months.

Yet Saturday’s attack could be more significant than that. Technology from drones to cyberattacks are available to groups like the Houthis, possibly with support from Saudi Arabia’s regional rival Iran. That major energy producer, facing sanctions but still shipping some oil, has both a political and financial incentive to weaken Saudi Arabia. The fact that the actions ostensibly were taken by a nonstate actor, though, limits the response that the U.S. or Saudi Arabia can take. Attempting to further punish Iran is a double-edged sword, given that pinching its main source of revenue, also oil, would further inflame prices.

While the redundancies in Saudi oil infrastructure mean that output may be restored as soon as Monday, the attack could build in a premium to oil prices that has long been absent due to complacency. Indeed, traders may now need to factor in new risks that threaten to take not hundreds of thousands but millions of barrels off the market at a time. U.S. shale production may have upended the world energy market with nimble output, but the market’s reaction time is several months, not days or weeks, and nowhere near enough to replace several million barrels.

After the smoke clears and markets calm down, the technological sophistication and audacity of Saturday’s attack will linger over the energy market.

https://www.wsj.com/articles/saudi-oil-attack-this-is-the-big-one-11568480576

Iran-backed militants admit drone swarm strike on world’s largest oil processing plant in Saudi and at second nearby facility sparking huge fires as tensions reach boiling point following tanker attacks

  • Drone attacks sparked fires at Aramco oil facilities in eastern Saudi Arabia today
  • Attacks took place at 4:00am at world’s largest oil processing plant Abqaiq
  • The Saudi interior ministry said the fires have now been brought under control 
  • Iran-backed Houthis claimed responsibility for attacks in Buqyaq and Khurais 
  • Tensions are running high in the region after attacks in June and July on oil tankers in Gulf waters that Riyadh and Washington blamed on Iran

Ten drones launched by Iran-backed militants sparked a huge fire at the world’s largest oil processing facility and a major oilfield in Saudi Arabia in the early hours of this morning.

The fires at Abqaiq in Buqayq, which contains the world’s largest oil processing plant, and Khurais, which contains the country’s second largest oilfield, have now been brought under control since the drone attacks at 4.00am local time.

Tensions are running high in the region after attacks in June and July on oil tankers in Gulf waters that Riyadh and Washington blamed on Iran.

A military spokesman for Yemen’s Houthi rebels, considered an Iranian proxy force in the region, has claimed responsibility for today’s attacks on Abqaiq and Khurais, two major facilities in eastern Saudi Arabia run by state-owned oil giant Aramco.

Houthi fighters in Yemen have previously launched attacks over the border, hitting Shaybah oilfield with drones last month and two oil pumping stations in May. Both attacks caused fires but did not disrupt production.

Ten drones launched by Iran-backed militants sparked a huge fire at the world’s largest oil processing facility and a major oilfield in Saudi Arabia in the early hours of this morning.

The fires at Abqaiq in Buqayq, which contains the world’s largest oil processing plant, and Khurais, which contains the country’s second largest oilfield, have now been brought under control since the drone attacks at 4.00am local time.

Tensions are running high in the region after attacks in June and July on oil tankers in Gulf waters that Riyadh and Washington blamed on Iran.

A military spokesman for Yemen’s Houthi rebels, considered an Iranian proxy force in the region, has claimed responsibility for today’s attacks on Abqaiq and Khurais, two major facilities in eastern Saudi Arabia run by state-owned oil giant Aramco.

Houthi fighters in Yemen have previously launched attacks over the border, hitting Shaybah oilfield with drones last month and two oil pumping stations in May. Both attacks caused fires but did not disrupt production.

Abqaiq facility, located 37 miles southwest of Aramco's Dhahran headquarters, is home to the company's largest oil processing plant, according to its website (pictured: Smoke is seen following a fire at an Aramco factory in Abqaiq)

Abqaiq facility, located 37 miles southwest of Aramco’s Dhahran headquarters, is home to the company’s largest oil processing plant, according to its website (pictured: Smoke is seen following a fire at an Aramco factory in Abqaiq)

Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia, September 14

Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia, September 14

Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia, September 14+26

Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia, September 14

A satellite image provided by NASA Worldview shows fires following Yemen's Houthi rebels claiming a drone attack on two major oil installations in eastern Saudi Arabia

A satellite image provided by NASA Worldview shows fires following Yemen’s Houthi rebels claiming a drone attack on two major oil installations in eastern Saudi Arabia

Tensions are running high in the region after attacks in June and July on oil tankers in Gulf waters that Riyadh and Washington blamed on Iran

Yahia Sarie announced that the Houthi’s were taking responsibility for the attacks on Saturday in a televised address carried by the Houthi’s Al-Masirah satellite news channel.

He said the Houthis sent 10 drones to attack an oil processing facility in Buqyaq and the Khurais oil field, warning that attacks by the rebels against the kingdom would only get worse if the war in Yemen continues.

Sarie said: ‘The only option for the Saudi government is to stop attacking us.’

Iran denies supplying the Houthis with weapons, although the U.N., the West and Gulf Arab nations say Tehran does. Drone models nearly identical to those used by Iran have been used in the conflict in Yemen.

The attacks highlight how the increasingly advanced weaponry of the Iran-linked Huthi rebels – from ballistic missiles to unmanned drones – poses a serious threat to oil installations in Saudi Arabia, the world’s top crude exporter.

A military spokesman for Yemen's Houthi rebels has claimed responsibility for today's attacks on Abqaiq (pictured) and Khurais

A military spokesman for Yemen’s Houthi rebels has claimed responsibility for today’s attacks on Abqaiq (pictured) and Khurais

The Abqaiq facility (pictured), which processes sour crude oil into sweet crude, then later transports onto transshipment points on the Persian Gulf and the Red Sea, has been targeted in the past by militants

The Abqaiq facility (pictured), which processes sour crude oil into sweet crude, then later transports onto transshipment points on the Persian Gulf and the Red Sea, has been targeted in the past by militants

Saudi Arabia’s oil production and exports have been disrupted, three sources familiar with the matter have said.

One of the sources said the attacks have impacted 5 million barrels per day of oil production – almost half the kingdom’s current output. The source did not elaborate.

Saudi Aramco operates the world’s largest oil processing facility and crude oil stabilisation plant in the world at Abqaiq, in eastern Saudi Arabia. The plant has a crude oil processing capacity of more than 7 million barrels per day.

Authorities have not reported on casualties. A witness nearby said at least 15 ambulances were seen in the area and there was a heavy security presence around Abqaiq.

The attack will likely heighten tensions further across the wider Persian Gulf amid a confrontation between the U.S. and Iran over its unraveling nuclear deal with world powers.

Saudi Aramco describes its Abqaiq oil processing facility in Buqyaq as ‘the largest crude oil stabilisation plant in the world.’

The facility, which processes sour crude oil into sweet crude, then later transports onto transshipment points on the Persian Gulf and the Red Sea, has been targeted in the past by militants.

The fires at Abqaiq, which contains the world's largest oil processing plant, and Khurais, which contains the country's second largest oilfield, have now been brought under control+26

The fires at Abqaiq, which contains the world's largest oil processing plant, and Khurais, which contains the country's second largest oilfield, have now been brought under control

The fires at Abqaiq, which contains the world’s largest oil processing plant, and Khurais, which contains the country’s second largest oilfield, have now been brought under control

Yemen's Houthi rebels claimed responsibility for the attacks on Abqaiq and Khurais, two major Aramco facilities in eastern Saudi Arabia (pictured: Abqaiq)

Yemen’s Houthi rebels claimed responsibility for the attacks on Abqaiq and Khurais, two major Aramco facilities in eastern Saudi Arabia (pictured: Abqaiq)

https://www.dailymail.co.uk/news/article-7463189/Drone-attacks-spark-huge-fires-two-Saudi-oil-refineries.html

Saudi Arabia Shuts Down About Half Its Oil Output After Drone Strikes

Shutdown amounts to a loss of some five million barrels a day, roughly 5% of the world’s daily production of crude

Smoke billowing after a fire at a Saudi Aramco factory in Abqaiq, Saudi Arabia, on Saturday. PHOTO: VIDEOS OBTAINED BY REUTERS/REUTERS

Coordinated drone strikes on the heart of the Saudi oil industry forced the kingdom to shut down half its crude production on Saturday, people familiar with the matter said, potentially roiling petroleum prices and demonstrating the power of Iran’s proxies.

Yemen’s Iranian-aligned Houthi rebels claimed credit for the attack, saying they sent 10 drones to strike at important facilities in Saudi Arabia’s oil-rich Eastern Province. The production shutdown amounts to a loss of about five million barrels a day, the people said, roughly 5% of the world’s daily production of crude oil.

Officials said they hoped to restore production to its regular level of 9.8 million barrels a day by Monday.

The strikes mark the latest in a series of attacks on the country’s petroleum assets in recent months, as tensions rise among Iran and its proxies like the Houthis, and the U.S. and partners like Saudi Arabia. The attacks could drive up oil prices if the Saudis can’t turn production back on quickly and potentially rattle investor confidence in an initial public offering of the kingdom’s national oil company.

President Trump called Saudi Arabia’s day-to-day ruler, Crown Prince Mohammed bin Salman, on Saturday and said the U.S. was ready to “cooperate with the kingdom in supporting its security and stability,” according to the Saudi Press Agency, the official news service.

Prince Mohammed told Mr. Trump that Saudi Arabia “is willing and able to confront and deal with this terrorist aggression,” according to the agency.

The attacks happened a few days before world leaders are set to gather in New York for the United Nations General Assembly, where President Trump has said he is interested in meeting Iranian President Hassan Rouhani to defuse tensions. Iran didn’t react to the attacks on Saturday, and officials have said Mr. Rouhani won’t meet with Mr. Trump until the U.S. lifts sanctions imposed after the president pulled out of the 2015 international nuclear deal.

Saturday’s attack was the largest yet claimed by the Houthis in terms of its overall impact on the Saudi economy, thrusting the petroleum industry into crisis in the world’s largest exporter of oil. The attack hit hundreds of miles away from their Yemen stronghold.

“The attack has been quite surprising for the mere amount of damage it caused,” said Fabian Hinz, an arms researcher at the Middlebury Institute of International Studies in Monterey, Calif.

“We have seen quite a few drone and missile attacks against Saudi infrastructure, but in most cases the actual damage caused has been quite minimal,” said Mr. Hinz.

The Saudi government called the strikes a terrorist attack and said it was investigating.

Armed Drones Are a Growing Threat From Rebels in Yemen

Armed Drones Are a Growing Threat From Rebels in Yemen
Yemen’s Houthi rebels are using armed drones with startling success. WSJ reporters describe their increasing sophistication and recent confirmed attacks. Illustration: Laura Kammermann

Analysts cautioned against accepting the Houthi claim of responsibility at face value. An attack in May on a Saudi oil-pumping station, which Saudi officials initially blamed on the Houthis and Iran, later turned out to have been launched by an Iranian-backed militia in Iraq, according to U.S. officials.

Saudi officials aren’t sure the attack emanated from Yemen and were discussing on Saturday the possibility that the attack came from the north, according to people familiar with the matter.

Saudi oil officials said they were rushing to contain the damage as fires raged in two major oil facilities. Saudi Aramco, the national oil company, held an emergency board meeting on Saturday to manage the unfolding crisis, the people familiar with the matter said.

Disruptions in Saudi oil production could have ripple effects through the global economy, as the kingdom exports more crude petroleum than any other country.

Saudi officials are discussing drawing down their oil stocks to sell to foreign customers to ensure that world oil supplies aren’t disrupted, the people familiar with the matter said. The people said Saudi officials were trying to restore the production soon but gave no firm timetable.

The attacks hit Hijra Khurais, one of Saudi Arabia’s largest oil fields, which produces about 1.5 million barrels a day. They also hit Abqaiq, the world’s biggest crude stabilization facility, processing seven million barrels of Saudi oil a day, about 8% of the world’s total.

The damage at Abqaiq has knock-on effects throughout the kingdom’s oil fields because it is a collection point for much of its industry, turning crude oil into specific grades requested by customers. The Ghawar field, the world’s largest, and Shaybah, which produces one million barrels a day, also reported disruptions because of Abqaiq’s problems, said the people familiar with the matter.

There were no immediate reports of casualties.

The Houthis took control of Yemen’s capital, San’a, in 2014 during a civil war. Since then, a Saudi-led coalition has fought a war to unseat the Houthis and reinstate a government supported by Saudi Arabia, the United Arab Emirates and other regional powers.

In recent months the Houthis, along with Iranian-backed armed groups in Iraq, have intensified a campaign of missile and drone attacks on Saudi Arabia, launching more than a dozen attacks at Saudi airports, a desalination plant and oil infrastructure. Suspected Houthi ordnance originating from the Yemeni border is launched at Saudi Arabia several times a week, a U.S. official said.

The strikes have put pressure on Saudi Arabia’s air defenses, as the Saudi government says it has shot down multiple drones and missiles.

Big OilKhurais, which was disrupted in a drone strike,is one of Saudi Arabia’s biggest oil fields.Oil field productionSource: International Energy Agency
GhawarSafaniyaKhuraisShaybahManifa0 million barrels a day2468

The increasing sophistication of the drone and missile attacks this year have shown deepening cooperation between the Houthis and Iran as Tehran has sought ways to apply pressure on their Saudi and American adversaries, according to U.S. officials and analysts. The Iranian government denies controlling the Houthi movement.

A U.N. panel last year said there were “strong indications” that Iran was the source of Houthi missile and drone technology but didn’t directly accuse the Tehran government of providing the weaponry itself. It said Iran has failed to take the necessary measures to prevent such transfers.

Saturday’s attack also came amid a sharp escalation of hostilities in neighboring Yemen after a Saudi airstrike killed more than 100 people at a detention center on Sept. 1.

“We promise the Saudi regime that our future operations will expand and be more painful as long as its aggression and siege continue,” a Houthi spokesman said Saturday.

The strikes complicate U.N. and U.S. efforts to negotiate an end to the conflict, which has killed more than 10,000 people over the last four years. U.S. officials had quietly attempted to launch a back channel to the Houthis.

A conservative kingdom with a Sunni Muslim majority, Saudi Arabia has been an opponent of Iran in a struggle for power across the broader Middle East since the 1979 revolution that toppled Iran’s monarchy.

The drone attacks on Aramco’s facilities are poorly timed for Aramco’s coming IPO and pose a challenge to oil officials after a changing of the guard in their leadership. The country’s rulers recently replaced Aramco’s chairman and the kingdom’s oil minister.

Aramco last week picked seven international banks to help it list on Saudi Arabia’s domestic exchange, an IPO that could value the company at about $2 trillion dollars and come before the end of the year.

The damage to Aramco facilities could affect investor appetite to buy into the company and its ultimate valuation, said John Sfakianakis, chief economist at the Gulf Research Center in Riyadh, a privately funded think tank.

But Aramco, the world’s most profitable firm, could also use this crisis to demonstrate its growing push for transparency and keep potential investors abreast of developments, said Mr. Sfakianakis, a former adviser to the kingdom’s finance ministry.

“There will be short term concern…The latest IPO announcement is being watched by all,” he said.

https://www.wsj.com/articles/drone-strikes-spark-fires-at-saudi-oil-facilities-11568443375

Country comparison Iran vs Saudi Arabia

Gouvernement
Annual GDP [+] 2018 452,275M.$ chart 782,483M.$ 2018 Annual GDP [+]
GDP per capita [+] 2018 5,529$ chart 23,219$ 2018 GDP per capita [+]
Debt [+] 2017 170,342 chart 149,279 2018 Debt [+]
Debt (%GDP) [+] 2017 39.53% chart 19.08% 2018 Debt (%GDP) [+]
Debt Per Capita [+] 2017 2,092$ chart 4,430$ 2018 Debt Per Capita [+]
Deficit (M.$) [+] 2017 -7,828 chart -36,267 2018 Deficit (M.$) [+]
Deficit (%GDP) [+] 2017 -1.82% chart -4.64% 2018 Deficit (%GDP) [+]
Expenditure (M.$) [+] 2017 83,377.9 chart 274,773.5 2018 Expenditure (M.$) [+]
Education Expenditure (M.$) [+] 2017 16,325.6 chart 26,706.2 2008 Education Expenditure (M.$) [+]
Education Expenditure (%Bud.) [+] 2017 20.04% chart 19.26% 2008 Education Expenditure (%Bud.) [+]
Gov. Health Exp.(M.$) [+] 2016 17,868.7 chart 25,107.5 2016 Gov. Health Exp.(M.$) [+]
Gov. Health Exp. (%Bud.) [+] 2016 22.60% chart 10.06% 2016 Gov. Health Exp. (%Bud.) [+]
Defence Expenditure (M.$) [+] 2018 12,064.5 chart 68,660.7 2018 Defence Expenditure (M.$) [+]
Defence Expenditure (%Bud.) [+] 2018 15.78% chart 24.59% 2018 Defence Expenditure (%Bud.) [+]
Expenditure (%GDP) [+] 2017 19.35% chart 35.12% 2018 Expenditure (%GDP) [+]
Expenditure Per Capita [+] 2017 1,024$ chart 8,154$ 2018 Expenditure Per Capita [+]
Education Expenditure P.C [+] 2017 201$ chart 1,036$ 2008 Education Expenditure P.C [+]
Gov. Health Exp. P.C. [+] 2016 226$ chart 778$ 2016 Gov. Health Exp. P.C. [+]
Defence Expenditure P.C. [+] 2018 147$ chart 2,037$ 2018 Defence Expenditure P.C. [+]
A1 04/13/2018 Moody’s Rating [+]
A- 02/17/2016 S&P Rating [+]
Fitch Rating [+] 04/24/2006 B+ A+ 04/30/2019 Fitch Rating [+]
Corruption Index [+] 2018 28 chart 49 2018 Corruption Index [+]
Competitiveness Ranking [+] 2018 89º chart 39º 2018 Competitiveness Ranking [+]
Fragile States Index [+] 2018 84.3 chart 70.2 2018 Fragile States Index [+]
RTI Raking [+] 09/28/2018 99º
Innovation Ranking [+] 2018 65º chart 61º 2018 Innovation Ranking [+]
Labour
Unemployment rate [+] 2017Q1 12.5% chart 5.6% 2016Q2 Unemployment rate [+]
Unemployed [+] 2017Q1 3,199 m. chart 699 m. 2016Q2 Unemployed [+]
NMW [+] 2011 319.0 $ chart 800.0 $ 2013 NMW [+]
Human Capital Ranking [+] 2017 104º chart 82º 2017 Human Capital Ranking [+]
Markets
US Dollar exchange rate [+] 05/14/2018 42,000.0000 chart 3.7500 05/14/2018 US Dollar exchange rate [+]
1.28% 09/19/2019 Stock ExchangeYTD % [+]
Business
Doing Business [+] 2019 128º chart 92º 2019 Doing Business [+]
Passengers vehicles Year [+] December 2017 1,592,282 chart 438,421 December 2017 Passengers vehicles Year [+]
Annual Vehicles/ 1,000 p. [+] December 2017 21.11 chart 16.84 December 2017 Annual Vehicles/ 1,000 p. [+]
Motor vehicle production [+] 2018 1,342,000
Vehicles / 1,000 people [+] 2015 177.79 chart 212.79 2015 Vehicles / 1,000 people [+]
Taxes
5.00% 01/01/2018 Standard VAT [+]
0% 2018 Top tax rate + SSC [+]
Trade
Exports [+] 2017 91,000.0 M.$ chart 218,374.0 M.$ 2017 Exports [+]
Exports % GDP [+] 2017 21.13% chart 31.71% 2017 Exports % GDP [+]
Imports [+] 2017 49,000.0 M.$ chart 134,520.0 M.$ 2017 Imports [+]
Imports % GDP [+] 2017 11.38% chart 19.54% 2017 Imports % GDP [+]
Trade balance [+] 2017 42,000.0 M.$ chart 83,854.0 M.$ 2017 Trade balance [+]
Trade balance % GDP [+] 2017 9.75% chart 12.18% 2017 Trade balance % GDP [+]
Socio-Demography
Density [+] 2018 47 chart 16 2018 Density [+]
Global Peace Ranking [+] 2019 139º chart 129º 2019 Global Peace Ranking [+]
Remittance received (M.$) [+] 2017 1,378.8 chart 286.5 2017 Remittance received (M.$) [+]
% Immigrant [+] 2017 3.31% chart 37.43% 2017 % Immigrant [+]
% Emigrant [+] 2017 1.44% chart 0.86% 2017 % Emigrant [+]
Birth Rate [+] 2017 15.92‰ chart 19.19‰ 2017 Birth Rate [+]
Remittance sent (M.$) [+] 2017 296.0 chart 46,724.6 2017 Remittance sent (M.$) [+]
Crude death rate [+] 2017 4.49‰ chart 3.58‰ 2017 Crude death rate [+]
Fertility Rate [+] 2017 1.64 chart 2.49 2017 Fertility Rate [+]
Rate Homicides per 100.000 [+] 2015 4.12 chart 1.50 2015 Rate Homicides per 100.000 [+]
Population [+] 2018 81,800,269 chart 33,699,947 2018 Population [+]
Immigrant stock [+] 2017 2,699,155 chart 12,185,284 2017 Immigrant stock [+]
Emigrant stock [+] 2017 1,170,491 chart 278,912 2017 Emigrant stock [+]
HDI [+] 2017 0.798 chart 0.853 2017 HDI [+]
Gender Gap Ranking [+] 2018 142º chart 141º 2018 Gender Gap Ranking [+]
Life expectancy [+] 2017 76.15 chart 74.72 2017 Life expectancy [+]
Number of homicides [+] 2015 3,259 chart 472 2015 Number of homicides [+]
Energy and Environment
CO2 Tons per capita [+] 2017 8.27 chart 19.39 2017 CO2 Tons per capita [+]

196519651970197019751975198019801985198519901990199519952000200020052005201020102015201520,000,00020,000,00040,000,00040,000,00060,000,00060,000,00080,000,00080,000,000IranIranSaudi ArabiaSaudi Arabia

Iran Saudi Arabia
1960 21,906,914 4,086,539
1961 22,480,372 4,218,853
1962 23,071,315 4,362,786
1963 23,680,258 4,516,533
1964 24,307,860 4,677,298
1965 24,954,873 4,843,635
1966 25,624,373 5,015,357
1967 26,317,783 5,195,135
1968 27,032,571 5,387,828
1969 27,764,924 5,599,904
1970 28,513,866 5,836,389
1971 29,281,591 6,100,626
1972 30,075,297 6,392,970
1973 30,905,707 6,711,923
1974 31,786,471 7,054,532
1975 32,729,772 7,419,493
1976 33,733,961 7,802,926
1977 34,803,045 8,207,697
1978 35,960,805 8,646,845
1979 37,237,137 9,137,927
1980 39,291,000 9,320,000
1981 40,826,000 9,786,000
1982 42,420,000 10,276,000
1983 44,077,000 10,790,000
1984 45,798,000 11,330,000
1985 47,587,000 11,897,000
1986 49,445,000 12,492,000
1987 50,662,000 13,118,000
1988 51,909,000 13,774,000
1989 53,187,000 14,463,000
1990 54,496,000 15,187,000
1991 55,837,000 15,947,000
1992 56,656,000 16,948,000
1993 57,488,000 17,277,000
1994 58,331,000 17,701,000
1995 59,187,000 18,136,000
1996 60,055,000 18,581,000
1997 61,070,000 19,037,000
1998 62,103,000 19,504,000
1999 63,152,000 19,983,000
2000 64,219,000 20,474,000
2001 65,301,000 20,976,000
2002 66,300,000 21,491,000
2003 67,315,000 22,020,000
2004 68,345,000 22,564,000
2005 69,390,000 23,330,000
2006 70,496,000 24,122,000
2007 71,366,000 24,941,000
2008 72,266,000 25,787,000
2009 73,196,000 26,661,000
2010 74,157,000 27,563,000
2011 75,150,000 28,376,000
2012 76,038,000 29,196,000
2013 76,942,000 29,994,000
2014 78,470,000 30,770,000
2015 79,476,000 31,016,000
2016 80,460,000 31,743,000
2017 81,423,000 32,552,000
2018 81,800,269 33,699,947
CountrySubcontinentContinentWorld
CountrySubcontinentContinentWorld
Saudi Arabia

 

 

 

 

 

Story 2: Morally Bankrupt New York Time Smear Campaign of Lies Against Supreme Court Justice Brett Kavanaugh — No Victim and No Witnesses — Big Lie Media — Junk Journalism — — Videos —

See the source image

Trump Urgest Kavanaugh To Sue New York Times For Libel

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Tucker: New York Times revives attacks on Kavanaugh

Ingraham: Democrats’ smash and smear campaign

Bongino blasts NYT’s ‘disgraceful’ reporting on Kavanaugh

Ben Shapiro blasts The New York Times’ reporting on Kavanaugh

Gowdy compares impeaching Kavanaugh to ‘political death penalty’

Gutfeld on the latest New York Times scandal

Trump demands DOJ ‘rescue’ Kavanaugh as fresh allegations emerge

Napolitano on new questions surrounding Kavanaugh accuser’s motivation

New video raises questions about Kavanaugh accuser’s testimony

Graham: Kavanaugh impeachment based on this is ‘dead on arrival’

‘Squad’ member to introduce Kavanaugh impeachment resolution

Why the Times bungled so badly in its latest Kavanaugh smear

 

 

 

 

 

 

 

 

 

 

 

When I wrote a column Sunday torching The New York Times for its latest attempt to attack Justice Brett Kavanaugh, I had no idea how quickly its story would fall apart. Explaining how and why is now in order.

The primary reason is that the anti-conservative bias within the Times organization is now so overwhelming that, at least on the continually troubled opinion side, there is simply no one in the loop who isn’t already positive Kavanaugh is a sexual predator — no one both able and willing (which, given today’s culture of fear regarding the #MeToo subject matter, may have been the more daunting hurdle) to express skepticism about a story that seeks to prove what everyone there already “knows” to be true.

I saw an obvious red flag before I even read the story. Liberals on Twitter were immediately excited by these “bombshell” revelations about Kavanaugh in an article that was innocuously titled as a piece on Yale University’s culture at the time when he and his “accuser” went there. That is obviously not how a story with legitimate new damning information would have been framed, even on a weekend.

As it turns out, there was very good reason why the two Times reporters, who are promoting a book about Kavanaugh’s past, were forced to go that very circuitous route to sneak in their extremely flimsy allegations.

It turns out the Times’ news editors had reportedly declined to run their “revelations” as a news story due to lack of evidence, just like The Washington Post had done, correctly, a year ago.

Then comes the issue of the “country club” aspect of an exclusive place like the Times filled with alleged journalistic elites. These two reporters are obviously respected colleagues of everyone in the decision-making roles, and they are naturally going to be given far wider latitude and trust than an outside author.

Surely that had to be part of the reason the Times somehow allowed one of the book’s authors to write a totally outrageous tweet for the outlet about her own story, which the paper had to then delete. That tweet, on its own, should discredit the book’s co-author, as it could not be more obvious evidence of someone who already had her conclusion about the case and simply went about desperately — and mostly unsuccessfully — trying to find some actual evidence to substantiate it.

Connected to this is the extraordinary arrogance of people who work at the Times. In my direct experience, they truly believe that if a story comes from a Times reporter that it must be the gospel truth, unless God herself declares it not to be, and even then they will only send it out for a quick fact-check.

Then there is the increasing challenge that, thanks to having gone to a subscription model and with the advent of Twitter, the Times is becoming beholden to its very liberal base of most passionate customers.

As several recent episodes have shown, the Times is now often edited by the whims of liberal Twitter, and surely anxiety over potentially pissing off this group by either censoring potentially negative Kavanaugh information, or, even worse, making him seem potentially innocent, had to play at least a subconscious role here.

This last point is likely the cause of one of the many egregious mistakes in the piece. While it has still not gotten widespread news media coverage, the Times absurdly censored its own story by omitting what is very likely the most substantive nugget of new information in their book.

It turns out that Leland Keyser, friend of Christine Ford (Kavanaugh’s first and primary accuser) — whom Ford claimed was the only other girl at the infamous pool party — gave the authors her first major interview.

Keyser, who was once married to Democratic operative Bob Beckel, told them that Ford’s story “makes no sense,” that she doesn’t have “any confidence” in the allegation and that she was targeted by Ford allies in an effort to get her to lie by backing up Ford’s uncorroborated account.

Now THAT is a real bombshell but one that clearly conflicts with the preferred liberal narrative of this entire fiasco in which both the Times and the two reporters are invested.

All of this has backfired spectacularly, and has given President Donald Trump yet another data point in his quest to paint every negative report about him and his administration “Fake News!”

Unless the culture at the Times and other mainstream outlets dramatically changes (spoiler alert: It will not), this kind of thing is only going to continue.

John Ziegler is a senior columnist for Mediaite.com, from which this was adapted.

https://nypost.com/2019/09/17/why-the-times-bungled-so-badly-in-its-latest-kavanaugh-smear/

Alleged Victim In New York Times Kavanaugh Story Denies Any Recollection Of Incident

New York Times reporters Robin Pogebrin and Kate Kelly are out with a new book that attempts to buttress the unsubstantiated claims deployed last year against Supreme Court Justice Brett Kavanaugh.

“The Education of Brett Kavanaugh: An Investigation” is neither a look at the education of Brett Kavanaugh nor an investigation. They admit they found no evidence to support the claims made by Christine Blasey Ford or Debbie Ramirez, although they say their “gut reaction” to the allegations is that they are true. They generously concede that their “gut” tells them that Michael Avenatti client Julie Swetnick’s claims are not true, citing the lack of corroboration.

The “lack of corroboration” standard was unevenly held to by the authors. Blasey Ford’s four witnesses all denied knowledge of the party at which her alleged assault took place. Ramirez went from telling Ronan Farrow “I don’t have any stories about Brett Kavanaugh and sexual misconduct,” to telling friends of an incident for which she “couldn’t be sure” Kavanaugh was involved, to now being the centerpiece of the Pogebrin and Kelly book. Ramirez also had no eyewitness support for her story that allegedly took place at a well-attended party, even after friendly media outlets contacted some 75 classmates trying to find corroboration. Both women had the support of many friends and activists, however.

The only supposedly new claim made in the book isn’t new and comes from Democrat attorney Max Stier, a Yale classmate of Kavanaugh’s with whom he has a long and contentious history. In the words of the Yale Daily News, they were “pitted” against each other during the Whitewater investigation in the 1990s when Kavanaugh worked for Independent Counsel Ken Starr. Stier defended President Bill Clinton, whose legal troubles began when a woman accused him of exposing himself to her in hotel room she had been brought to. Clinton later settled with the woman for $850,000 and, due to a contempt of court citation for misleading testimony, ended up losing his law license for five years. Stier worked closely with David Kendall, who went on to defend Hillary Clinton against allegations of illegally handling classified information. Kavanaugh’s reference to his opponents being motivated by “revenge on behalf of the Clintons” met with befuddlement by liberal media, despite the surprisingly large number of Clinton-affiliated attorneys who kept popping up during his confirmation hearings.

In any case, Stier’s claim, which even two Democratic senators’ offices didn’t find particularly worthwhile, was that he had seen an inebriated Kavanaugh, pants-down, at a freshman-year party. Stier’s claim to the staffers, we’re told, was that other people at the party put Kavanaugh’s genitalia into the hands of a classmate. Another unnamed person alleged said that he or she might have remembered hearing that the female student had transferred out of her college because of Kavanaugh, “though exactly why was unclear.”

The reporters, who describe Democrats in glowing terms and Republicans otherwise, say that Stier is a “respected thought leader” in the defense of the federal bureaucracy. They don’t mention his history of working for the Clintons. As for the victim? They say she “has refused to discuss the incident, though several of her friends said she does not recall it.”

To repeat: Several of her friends said she does not recall it.

So to summarize, the only new claim in the new book is that a Democratic attorney told two senators that he saw an incident where a third party allegedly did something to Kavanaugh and the young woman. In their book, the authors are upset that this claim didn’t lead to a massive FBI investigation, although they don’t explain why they think it should have.

Pogebrin and Kelly left the victim’s denial out of their New York Times story. It is unclear why the reporters and editors allowed the story to be published without this salient fact that they conceded, albeit briefly, in their own book.

Mollie Ziegler Hemingway is a senior editor at The Federalist. She is Senior Journalism Fellow at Hillsdale College and a Fox News contributor.

The Ongoing Smear Campaign against Brett Kavanaugh

Supreme Court nominee Judge Brett Kavanaugh at his Senate Judiciary Committee confirmation hearing, September 4, 2018. (Chris Wattie/Reuters)

The New York Times had a significant story to tell about Brett Kavanaugh. It’s this: In a new book, the Times reporters produced new evidence that profoundly undermined the central claims against Kavanaugh. Leland Keyser — Christine Blasey Ford’s friend and the person Ford herself testified was also at the party where Ford claimed Kavanaugh assaulted her — has stated on the record that she doesn’t have “any confidence” in Ford’s story.

Not only does she not recall the specific party at issue, she doesn’t recall “any others like it.” Moreover, Keyser maintains this recollection in spite of a determined effort by old friends to get her to change her testimony — a pressure campaign that Keyser admirably resisted.

In other words, “Never mind.” But even that editor’s note is incomplete. It turns out that Max Stier served as one of Bill Clinton’s lawyers during the Starr investigation, a fact that’s at least relevant to the existence of partisan bias.

But for sheer malice nothing can match the speed and ferocity with which reporters accepted the facially ludicrous rape story pushed by Michael Avenatti client Julie Swetnick. She claimed that she saw Kavanaugh “waiting his turn” for a gang rape and spiking punch to facilitate gang rapes. The story was never remotely plausible, but that didn’t stop media figures from shaming anyone who expressed public doubts on Twitter.

Trump Urges Kavanaugh To Sue New York Times For Libel

Perhaps the nadir of the whole affair is when Vox helped “explain the news” by publishing a piece arguing that the John Hughes movie Sixteen Candles provided “important context” for the Kavanaugh allegations. In the 1980s, you see, there was a different “cultural understanding” about gang rape.

Against this backdrop, the Democrats calling for impeaching Kavanaugh — including Bernie Sanders, Elizabeth Warren, and Kamala Harris — are disgracing themselves. The claims against Kavanaugh never stood up to scrutiny, and the evidence that has emerged since the hearings last fall has only served to undercut further the claims against him.

In a speech earlier this year, Ford’s attorney Debra Katz admitted to the partisanship that at least in part motivated her client: They wanted to put an “asterisk” next to his name. “When he takes a scalpel to Roe v. Wade,” she said, “we will know who he is, we know his character, and we know what motivates him, and that is important; it is important that we know, and that is part of what motivated Christine.”

2020 Dems Assail Kavanaugh Despite NYT Story Correction

By Susan Crabtree – RCP Staff

September 17, 2019

2020 Dems Assail Kavanaugh Despite NYT Story Correction

AP Photo/Robert F. Bukaty

On Sunday, the New York Times walked back and significantly revised the latest incendiary allegation against Supreme Court Justice Brett Kavanaugh, but the unusual correction to a central part of its bombshell story seemed to mean little to the field of 2020 Democratic presidential contenders.

Sen. Kamala Harris had “pinned” her weekend reaction to the story — a call for Kavanaugh’s impeachment — to the top of her Twitter page, the social media equivalent of running a banner headline about a position on a high-priority issue.

Harris’ Tweet was still there by Monday night, without qualification, despite a fierce bipartisan backlash against the Times’ initial reporting of the uncorroborated sexual misconduct allegation, and the Gray Lady’s clumsy efforts to correct its original reporting about it.

The controversy began Saturday when the Times ran a “news analysis” piece by Robin Pogrebin and Kate Kelly, adapted from their forthcoming book, “The Education of Brett Kavanaugh.”

The wide-ranging story included a seemingly new allegation — that a Kavanaugh classmate at Yale, nonprofit CEO Max Stier, “saw Kavanaugh with his pants down at a drunken dorm party, where friends pushed his penis into the hand of a female student.”

Late Sunday, the Times updated the Kavanaugh story with an “editor’s note” acknowledging that the alleged victim of the incident had declined to be interviewed and several friends had said she did not recall the alleged misconduct.

The Times only added that note after The Federalist’s Mollie Hemmingway, who had an advance copy of the book, flagged the glaring omission in the Times reporting.

Pogrebin and Kelly on Monday night blamed their editors for cutting the critical pieces of exculpatory information from the story. They said they had included the details about the victim declining to be interviewed for the story and her friends saying she didn’t recall the incident, along with the woman’s name. Pogrebin said their editors decided against using the woman’s name and in “the haste” of trying to close the editorial process edited out all of the information about the woman, instead of just her name. The pair did not say why they didn’t object.

Pogrebin and Kelly are hardly new to the editing process. Pogrebin has been a Times reporter since 1995, and her mother, Letty Cottin Pogrebin, is a founding editor of Ms. magazine, a liberal feminist publication created in the early 1970s. Kelly has been covering business and finance for 20 years, including a decade at the Wall Street Journal.

“We certainly never intended to mislead in any way. We wanted to give as full a story as possible,” Pogrebin told MSNBC’s Lawrence O’Donnell Monday evening.

But that wasn’t the only hole in the story. The piece also omitted relevant information about Stier’s work during the Monica Lewinsky sex scandal as a member of Bill Clinton’s defense team at the law firm Williams & Connolly.

And it included a strangely constructed attribution that wouldn’t pass most major newsrooms’ standards when reporting on a sexual assault allegation against a major public figure. In the piece, the reporters wrote: “We corroborated the story with two officials who have communicated with Mr. Stier.” But they did not indicate what type of “officials,” government or otherwise, those sources are.

Several liberal commentators across a variety of media, from MSNBC’s “Morning Joe” to National Public Radio and at least one host on “The View,” spent Monday blasting the Times’ report as a particularly egregious example of journalistic malfeasance.

Despite the widespread criticism of the piece, Harris and other 2020 Democrats who spent the weekend calling for Kavanaugh’s impeachment based on the new report, aren’t dialing back their demands or even acknowledging the Times’ correction of the very story that sparked those demands.

In fact, billionaire environmentalist Tom Steyer jumped into the fray to call for Kavanaugh’s impeachment on Monday after the Times issued the correction.

“The @GOP is so hell bent on guaranteeing a conservative court, they are willing to overlook serious allegations on sexual misconduct and perjury,” he tweeted Monday. “The system is broken.”

RealClearPolitics reached out to spokespersons for Harris, Sens. Elizabeth Warren, former Housing and Urban Development Secretary Julian Castro and South Bend, Ind., Mayor Pete Buttigieg, all of whom called for Kavanaugh’s impeachment over the weekend after the Times’ story broke. None of the campaigns responded.

In fact, Harris continued to attack Kavanaugh’s confirmation on Twitter Monday morning, the day after the Times issued its correction.

The Times also did not respond to an RCP inquiry on how it planned to restore its credibility, whether any reporter or editor would be fired over the failings and where the breakdown in journalistic standards occurred that allowed the seemingly new but uncorroborated allegation to be published.

Since the Times’ corrected the piece, President Trump has lambasted the paper, firing off multiple tweets calling the new efforts to force Kavanaugh off the court “lies and fake news,” and encouraging lawsuits against the paper.

At a campaign rally in New Mexico Monday night, he assailed the paper once again, calling for the resignation of “everybody at the New York Times involved in the Kavanaugh smear story.”

The president was in the rare position of following a bipartisan outpouring of outrage over the story, as well as the correction, which for some journalists raised more questions about the process that led to the material’s publication than it answered.

Early Monday, MSNBC’s anti-Trump host Joe Scarborough said it was a “stunning decision to leave that central [lack of corroboration] fact out of an article filled with damning accusations.”

Liberal Yale law professor Scott Shapiro called it an “outrageous omission” and appeared to promote a boycott of the paper over the issue.

“Would love to see my fellow liberals who routinely threaten to unsubscribe to the NYT to make the same threat now,” he tweeted.

NPR media correspondent David Folkenflik asserted that having the alleged victim corroborate the story was a central and necessary part of any reporting on the incident.

“One can argue that the failure to remember, given her intoxication, is not dispositive,” he tweeted. “One can’t argue, however, that that fact didn’t need to be in the Kavanaugh story from the outset.”

“The View’s” self-described moderate, Abby Huntsman, denounced the Times’ report as “sloppy and lazy” and congratulated the paper for helping Trump get re-elected.

Conservative media critics cited the Times’ reporting as proof that the media is working hand-in-glove with Democrats to relentlessly and falsely attack Republicans.

“Omitting these facts from the @nytimes story is one of the worst cases of journalistic malpractice I can recall,” tweeted National Review’s John McCormack.

The controversy also played into the hands of some of Kavanaugh’s staunchest supporters. Carrie Severino, the chief counsel and policy director for the Judicial Crisis Network, a conservative group that reportedly spent $10 million backing the Supreme Court nominee last year, called the Times’ reporting of uncorroborated accusations a part of several “shameful attempts to reignite baseless smears about Kavanaugh.”

Sen. Chuck Grassley, who ran Kavanaugh’s tumultuous Judiciary Committee confirmation process last year, on Twitter pointed out that no one from the Times’ had reached out to his office for the story and his office had not received an allegation against Kavanaugh “like the one referenced over the weekend.”

The Iowa Republican later Monday disputed the references to the alleged incident as a “new allegation.” Instead, during a speech on the Senate floor he said the report amounts to “barely a third-hand rumor” and the type of reckless, uncorroborated reporting that is having a corrosive impact on the country’s democratic process.

“These writers – can you believe this? – these writers didn’t even speak to the man whom they claim originally recounted this rumor. What’s left are only layers and layers of decades-old hearsay. No more corroboration, no more verification, not even anything from the accuser himself.”

Referencing the New York Times’ slogan, “All the News That’s Fit to Print,” Grassley said journalism has hit a new, Trump-era low.

“When did this stuff I described become something fit to print by the supposed American paper of record?” he asked. “The sad consequences of this article are a misinformed public, a greater divide in our own discourse, and a deeper lack of faith in our news media.”

Susan Crabtree is RealClearPolitics’ White House/national political correspondent.

https://www.realclearpolitics.com/articles/2019/09/17/2020_dems_assail_kavanaugh_despite_nyt_story_correction__141272.html

 

Story 3: U.S. Federal Government Record Spending Exceeds $4 Trillion and Rising — Videos

$4,155,323,000,000: Federal Spending Sets Record Through August

By Terence P. Jeffrey | September 13, 2019 | 12:48 PM EDT

(Getty Images/Win McNamee)

(CNSNews.com) – The federal government spent a record $4,155,323,000,000 in the first eleven months of fiscal 2019 (October through August), according to the Monthly Treasury Statement released Thursday.

While spending a record $4,155,323,000,000, the government ran a deficit of $1,067,156,000,000.

The most the federal government had ever spent in the first eleven months of a fiscal year before this one was in fiscal 2018 when the Treasury spent $3,951,247,170,000 (in constant August 2019 dollars, adjusted using the Bureau of Labor Statistics inflation calculator).

Total federal tax revenues in the first eleven months of fiscal 2019 equaled $3,088,167,000,00. That was more than the $3,037,420,180,000 (in constant August 2019 dollars) that the Treasury collected in total taxes in the first eleven months of fiscal 2018, but less than the $3,099,536,720,000 in total taxes (in constant August 2019 dollars) that the Treasury collected in the first eleven months of fiscal 2017.

The Treasury also collected less in individual income taxes in the first eleven months of this year ($1,534,886,000,000) than it did in the first eleven months of fiscal 2018 ($1,548,213,460,000 in constant August 2019 dollars).

According to Table 3 in the Monthly Treasury Statement, the Department of Health and Human Services spent the most of any federal agency in the first eleven months of fiscal 2019 ($1,138,456,000,000), the Social Security Administration spent the second most ($1,013,175,000,000), and the Department of Defense-Military Programs spent the third most ($601,137,000,000).

The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.

https://www.cnsnews.com/news/article/terence-p-jeffrey/4155323000000-federal-spending-sets-record-through-august

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The Pronk Pops Show 1309. August 20, 2019, Story 1: 23 Texas Towns Hit With Ransomware Attack — Videos — Story 2: President Trump Does Not Support Universal Background Checks But Does Support Meaningful Intelligent Background Checks  — Videos — Story 3: President Trump Looking At Payroll Tax Cuts — Videos — Story 4: Big Lie Media, Radical Extremist Democrat Socialists (REDS), and Trump Haters Hope The United States Economy Goes Into A Recession to Defeat Trump — Betrayal of The American People — Videos

Posted on August 22, 2019. Filed under: 2020 President Candidates, 2020 Republican Candidates, Addiction, Addiction, American History, Applications, Assault, Banking System, Blogroll, Breaking News, Budgetary Policy, Cartoons, Communications, Computers, Congress, Constitutional Law, Corruption, Countries, Crime, Cruise Missiles, Culture, Cyber Warfare, Deep State, Defense Spending, Donald J. Trump, Donald J. Trump, Donald J. Trump, Donald Trump, Drugs, Economics, Education, Elections, Employment, Energy, European History, Federal Bureau of Investigation (FBI) and Department of Justice (DOJ), Federal Government, First Amendment, Fiscal Policy, Foreign Policy, Free Trade, Freedom of Speech, Government, Government Spending, Hardware, Health, Health Care, History, Homicide, House of Representatives, Human, Human Behavior, Illegal Drugs, Illegal Immigration, Immigration, Impeachment, Independence, Killing, Labor Economics, Law, Legal Drugs, Legal Immigration, Life, Liquid Natural Gas (LNG), Lying, Media, Medicare, Mental Illness, Mike Pompeo, Military Spending, Monetary Policy, National Interest, Natural Gas, News, Nuclear, Nuclear, Nuclear Weapons, People, Philosophy, Photos, Politics, Polls, President Trump, Progressives, Public Corruption, Raymond Thomas Pronk, Religion, Rule of Law, Scandals, Science, Senate, Servers, Sexual Harrasment, Social Security, Software, Surveillance/Spying, Tax Policy, Trade Policy, Unemployment, United States Constitution, United States of America, Videos, Violence, Wall Street Journal, War, Wealth, Weapons, Weapons of Mass Destruction, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

 

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Story 1: 23 Texas Towns Hit With Ransomware Attack — Videos

Ransomware As Fast As Possible

Officials Working To Help 23 Local Texas Governments After Ransomware Attack

Ransomware attack hits government computers in over 20 Texas towns

Texas government agencies hit by ransomware attack

Ransomware attack hits 23 Texas towns

Twenty-two Texas Towns Hit By Ransomware

Ransomware attack hits 23 Texas towns

23 local Texas governments hit with ransomware attack

How Ransomware Locks Your PC & Holds Your Data Hostage

How one ransomware attack cost £45m to fix – BBC News

What is ransomware and how can I protect myself?

Th

RANSOMWARE

Wana Decrypt0r (Wanacry Ransomware) – Computerphile

 

Texas is hit with ransomware attack as at least 20 local governments come under ‘coordinated’ cyber assault

  • Texas state government reports coordinated ransomware attacks in 20 cities
  • State Department of Information Resources is leading the response
  • Ransomware cripples computer infrastructure with demand for payment 

Texas has been hit with a wave of ransomware attacks targeting at least 20 local government entities.

The Texas Department of Information Resources (DIR) said late Friday that it is leading the response to a ‘coordinated ransomware attack’ that is crippling critical government infrastructure across the state.

Ransomware disables computer networks and holds them hostage in demand for payment.

Workers are seen inside the Texas Division of Emergency Management, State Operations Center in Austin in a file photo
‘Currently, DIR, the Texas Military Department, and the Texas A&M University System’s Cyberresponse and Security Operations Center teams are deploying resources to the most critically impacted jurisdictions,’ the department said in a statement.

WHAT IS RANSOMWARE?

Cybercriminals use ‘blockers’ to stop their victim accessing their device.

This may include a mesage telling them this is due to ‘illegal content’  such as porn being identified on their device.

Anyone who has accessed porn online is probably less likely to take the matter up with law enforcement.

Hackers then ask for money to be paid, often in the form of Bitcoins or other untraceable cryptocurrencies, for the block to be removed.

In May 2017, a massive ransomware virus attack called WannaCry spread to the computer systems of hundreds of private companies and public organisations across the globe.

The department urged local jurisdictions who have been impacted to contact their local TDEM Disaster District Coordinator.

‘DIR is fully committed to respond swiftly to this event and provide the necessary resources to bring these entities back online,’ the agency said.

It was not immediately clear which cities had been impacted by the attacks and what entity is suspected of perpetrating them.

A spokesman for DIR did not immediately respond to a request for comment from DailyMail.com on Saturday.

The attack came within hours of a massive failure of U.S. Customs and Border Protection computers that caused huge travel delays across the country – although the federal agency has insisted that the outage was not ‘malicious’ in nature. 

‘The affected systems are coming back online and travelers are being processed. CBP will continue to monitor the incident. There is no indication the disruption was malicious in nature at this time,’ CBP said in a statement at 6.30pm ET on Friday.

22 Texas Towns Hit With Ransomware Attack In ‘New Front’ Of Cyberassault

Texas state Capitol building in Austin. This week, state officials confirmed that 22 municipalities have been infiltrated and ransom demanded.

Bill Clark/CQ-Roll Call/Getty Images

Updated at 10:00 a.m. Wednesday ET

Texas is the latest state to be hit with a cyberattack, with state officials confirming this week that computer systems in 22 municipalities have been infiltrated by hackers demanding a ransom. A mayor of one of those cities said the attackers are asking for $2.5 million to unlock the files.

The Federal Bureau of Investigation and state cybersecurity experts are examining the ongoing breach, which began Friday morning and has affected mostly smaller local governments. Officials have not disclosed which specific places are affected.

Investigators have also not yet identified who or what is behind the attack that took the systems offline, but the Texas Department of Information Resources says the evidence so far points to “one single threat actor.”

Elliott Sprehe, a spokesman for the department, said he was “not aware” of any of the cities having paid the undisclosed ransom sought by hackers. He said the areas impacted are predominantly rural. The department initially put the number of cities attacked at 23.

Two cities so far have come forward to say their computer systems were affected. Officials in Borger in the Texas Panhandle, said the attack has affected city business and financial operations. Birth and death certificates are not available online, and the city can’t accept utility payments from any of its 13,25o residents. “Responders have not yet established a time-frame for when full, normal operations will be restored,” city officials said.

Keene, Texas, a city of some 6,100 people outside Fort Worth, was also hit, officials announced. The city’s government is also unable to process utility payments.

Keene Mayor Gary Heinrich told NPR that the hackers broke into the information technology software used by the city and managed by an outsourced company, which he said also supports many of the other municipalities targeted.

“Well, just about everything we do at City Hall is impacted, Heinrich said.

Heinrich said the hackers want a collective ransom of $2.5 million.

“They got into our software provider, the guys who run our IT systems,” Heinrich said. “A lot of folks in Texas use providers to do that, because we don’t have a staff big enough to have IT in house.”

State officials would not comment on the nature of the attack or confirm the ransom amount. But Heinrich said there is no way his city will be coughing up anything for the hackers.

“Stupid people,” he said of the cyber-attackers. “You know, just no sense in this at all.”

Experts say that while government agencies have increasingly been hit by cyberattacks, simultaneously targeting nearly two dozen cities represents a new kind of digital assault.

“What’s unique about this attack and something we hadn’t seen before is how coordinated attack this attack is,” said threat intelligence analyst Allan Liska. “It does present a new front in the ransomware attack,” he said. “It absolutely is the largest coordinated attack we’ve seen.”

Liska’s research firm, Recorded Future, has found that ransomware attacks aimed at state and local government have been on the rise, finding at least 169 examples of hackers breaking into government computer systems since 2013. There have been more than 60 already this year, he said.

In recent months, the data networks of Baltimore, the Georgia courts system and a county in Utah have all been hit by ransomware.

The hacker bait tends to come in the form of a seemingly benign email with links or attachments that, once opened, can infect a system. There are other popular ways of tapping into government networks, Liska said, like through remote desktop systems, which can be vulnerable to hackers.

While the attackers tend to be anonymous and their locations undisclosed, Liska said his research has found that few are based in the U.S. Many, he said, are breaching local government computer systems from operations based in parts of Eastern Europe or Russia.

And sometimes local governments see no other option to restoring their crippled networks than paying a ransom demanded by hackers. In Lake City, Fla., a town of about 12,000 residents, officials paid $460,000 in the form of bitcoin, the preferred payment method among cybercriminals.

“They turned off the servers. They literally went room through room through city hall, unplugging people’s networks cables and turning off all the computers,” Mike Lee, a sergeant with the Lake City Police Department, told NPR in July.

The ransom was paid by insurance, but taxpayers were still on the hook for a $10,000 deductible.

The Recorded Future study found that about 17% of local agencies hit with ransomware viruses paid up, a practice federal law enforcement officials discourage, saying it incentivizes cybercriminals to keep engaging in the activity.

Liska said in cities he has worked with that have been preyed upon by hackers, there are instances in which ponying up for the return of data is the only viable option.

“Sometimes the reality of the situation may call for it,” he said. “If the backups aren’t working or if the bad guys have encrypted your backups, then unfortunately that’s what you’re left with.”

Individuals, businesses and institutions such as hospitals have been targeted by ransomware attacks for years. With the recent attacks on state and city government, local officials are rushing to secure their computer systems, holding new training and backing up their servers, Liska said. But in smaller, cash-strapped localities, there could be challenges to building a security defense.

Tad McGalliard studies local government cybersecurity at the Washington-based city manager group ICMA. He has been pushing for municipalities to find more funding to fight back against hackers.

“Somebody out there on the bad guy front is seeing an opportunity in local governments and we got to make a better job of making sure our employees are as well-trained and as well-equipped as possible,” McGalliard said.

McGalliard said the Texas case should be a wake-up call to cities in remote parts of the country.

“We might have thought this was a big city problem, or at least an affluent city or county problem, but I think what’s clear now is just about any local government is vulnerable,” he said.

In Texas, state authorities have not yet disclosed where exactly the attacks were based or how many computers have been swept up in the breach, meaning it is not yet known what services or data might have been compromised.

“Hitting 23 towns at once was bad, but we don’t know how much damage was done,” Liska said. “One computer in each town versus 100 computers in each town is a big difference.”

https://www.npr.org/2019/08/20/752695554/23-texas-towns-hit-with-ransomware-attack-in-new-front-of-cyberassault

Story 2: President Trump Does Not Support Universal Background Checks But Does Support Meaningful Intelligent Background Checks  — Videos

White House pushes back on background check claims

Lou Dobbs Tonight 8/20/19 | Breaking Fox News August 20, 2019

Story 3: President Trump Looking At Payroll Tax Cuts — Videos

Bank of America CEO Moynihan on the Economy, Recession Risks and Trade

What are the warning signs of a recession?

Are we heading for a global recession? – BBC Newsnight

The Point: Trump admits China war could bring economic recession

President Trump Wants To Cut Payroll Taxes

President Trump Says He’s Considering Payroll Tax Cut To Boost Economy | NBC Nightly News

President Trump may be considering options to prevent recession

Trump touts economy but payroll tax discussion reveals recession fears

Trump attacks Fed chair, pushes back on recession fears

Donald Trump says he will risk a ‘RECESSION for two months’ as a price for his China trade war saying only ‘dumb people’ don’t get what he us doing – and he admits he IS considering emergency tax cuts

  • Donald Trump spent morning retweeting aides and media allies to back his claim that recession warnings are a plot to unseat him in 2020
  • He retweeted a supporter who described him as having ‘super human energy,’ and a series of claims that the media is trying to crash the economy
  • ‘Somebody had to take China on,’ he argued. ‘China’s been grifting off this country for 25 years’ 
  • Told a reporter asking about a recession: ‘I am doing this whether it’s good or bad for your statement about, “Oh, will we fall into a recession for two months?” ‘
  • Trump declared, ‘The fact is, somebody had to take China on. My life would be a lot easier, if I didn’t take China on. But I like doing it, because I have to do it’
  • Also tweeted Mike Pence claiming Michigan’s economy is strong on day electorally-critical state was hit by U.S. Steel layoffs 
  • Admitted during an Oval Office meeting with Romania’s president that he’s considering a payroll tax cut and railed against the Federal Reserve and China
  • Dow closed 173.35 points down at 25,962.44 after rallying on Monday, in the latest market fluctuation. 

President Donald Trump says he’s willing to risk a ‘recession for two months’ to bring China to heel, declaring Tuesday that only ‘dumb people’ don’t understand his trade war and tariffs policies.

An angry Trump warned reporters that if he hadn’t challenged China, theft of intellectual property would hurt companies like Apple even more in the long term than his tariffs.

‘Somebody had to take China on,’ he argued. ‘China’s been grifting off this country for 25 years, but longer than that. And it’s about time, whether it’s good for our country, or bad for our country short term. Long term, it’s imperative that somebody does this because our country cannot continue to pay China $500 billion because stupid people are running it.’

He argued, ‘Whether its good or bad short term is irrelevant. We have to solve the problem with China.’

‘Whether it’s good or bad, the short term is irrelevant. We have to solve the problem with China because they’re taking out $500 billion a year plus. And that doesn’t include intellectual property theft and other things. And also, national security, so I am doing this whether it’s good or bad for your statement about, “Oh, will we fall into a recession for two months?” ‘ he told a journalist asking him about the possibility of a downturn.

Trump declared, ‘The fact is, somebody had to take China on. My life would be a lot easier, if I didn’t take China on. But I like doing it, because I have to do it. And we’re getting great help. China’s had the worst year they’ve had in 27 years, and a lot of people saying the worst year they’ve had in 54 years, OK?

President Donald Trump says he's willing to risk a 'recession for two months' to bring China to heel, declaring Tuesday that only 'dumb people' don't understand his trade war and tariffs policies

President Donald Trump says he’s willing to risk a ‘recession for two months’ to bring China to heel, declaring Tuesday that only ‘dumb people’ don’t understand his trade war and tariffs policies

Trump will risk recession as trade war with China ‘had to be done’

Fuming, the president insisted to journalists: ‘We’re winning big. I took it on.

‘And I’m happy to do it. Because it had to be done. And the smart people say, thank you very much. And the dumb people have no idea. And then you have the political people, and they go with the wind. But they all know.’

He defended his tariffs on China, arguing, ‘My trade deals aren’t causing a problem. This is something that had to be done.’ 

Trump also confirmed that he’s looking at a payroll tax cut, acknowledging that it’s ‘something we think about and a lot of people would like’ him to pursue to stimulate the economy.

Sitting next to Romanian President Klaus Iohannis, the president denied that the U.S. economy is in distress.

‘I think the word recession is a word that’s inappropriate,’ he asserted. ‘Certain people and the media are trying to build up, because they’d love to see a recession.’

He urged the Federal Reserve to cut rates again and said at a ‘minimum they should be doing nothing,’ as he lashed out against the financial institution.

Trump slams Fed, says US economy is ‘far from a recession’

Trump said it should not be decreasing the amount of money in circulation, a monetary policy known as quantitative tightening.

‘The fed is psychologically very important,’ he said in the Oval Office meeting, where he took half-an-hour of questions from gathered journalists.

The president offered up the EU and Germany as examples, saying, ‘You have to be proactive, and so we really need a fed cut rate because if you look what’s going on with the European Union, as an example, they’re cutting.

‘If you take a look at Germany, what they’re doing and what they’re doing, and what they’re paying, they’re actually doing something inverse, nobody’s ever seen it before, we have to at least keep up to an extent,’ he said. ‘So we’re looking for a rate cut.’

Trump’s remarks aired on television as Wall Street was winding down for the day.

It closed 173.35 points down at 25,962.44 after rallying on Monday, in the latest market fluctuation.

Trump accused Democrats Tuesday of running a strategy to drive the nation into recession, as he amplified claims from his allies that the economy is stronger under his leadership.

In a morning tweet storm which came as White House officials discussed how to stimulate the economy at the same time as Trump is denying a recession is looming, he retweeted Mike Pence, his campaign manager and three favored media allies – Geraldo Riviera and Jesse Watters of Fox News and Maria Bartiromo of Fox Business network.

One credited Trump with ‘super human energy,’ and pushed his own claim that Democrats are trying to drive the country into recession to beat him in 2020.

And GOP chairwoman Ronna McDaniel argued in tweets that manufacturing optimism is up and unemployment is down.

Trump seconded his campaign manager, Brad Parscale, who proclaimed in a message, ‘The liberal media is so deranged by President [Donald Trump] that they’re now cheering for the economy to tank – sorry to disappoint Democrats, but the economy has never been stronger!’

And the tweetstorm pointedly included praise for the economy in Michigan from vice president Mike Pence, who was traveling there Tuesday, on the day that U.S. Steel was revealed to be laying off hundreds and shuttering blast furnaces.

 

 

 

Tweet storm of praise: Trump turned to Twitter for backers of his claim that warnings of a recession are being driven by a desire to remove him from office

Tweet storm of praise: Trump turned to Twitter for backers of his claim that warnings of a recession are being driven by a desire to remove him from office

U.S. Steel –  a company whose renaissance has been a key part of the Trump narrative – said it would lay off 200 workers. It will also idle two blast furnaces for at least six months at Great Lakes and Gary Works plants, citing lower steel prices and softening demand.

The layoffs were characterized as temporary in filings,but the company admitted they could last longer than six months, in another indicator that the U.S. economy is slowing down.

Michigan is critical to Trump’s re-election prospects after the shock victory there played a key part in putting him in the White House.

In more bad news for Trump, a top lender, JP Morgan Chase assessed that Trump’s tariffs on China will cost American consumers $1,000 a household.

Despite Trump’s bravado on social media and previous bullish public comments, his  White House spokesman Hogan Gidley confirmed talks were under way on some form of stimulus.

He denied only a specific report that the measure bring considered a payroll tax cut and told Fox News: ‘It’s not being considered at this time but he’s looking at all options out there to try and give people back so much of the hard earned money they’ve made.’

A Washington Post report had cited sources at the White House said the administration was considering a temporary cut to the 6.2 percent tax to prevent a downturn.

The suggestion was modeled after a two percent slash Obama made in his first term, which expired in 2013 as job growth ticked up again.

On Monday night, a White House official told DailyMail.com that a payroll tax isn’t under discussion currently, although the person left the door open to future tax cuts to stimulate the economy.

‘As Larry Kudlow said yesterday, more tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time,’ the official said.

Kudlow had on Fox News Sunday said the president’s Oct. 2018 promise to pursue tax cuts for the middle class was still alive.

He denied that the nation was on the verge of a recession, however, after fill-in host Dana Perino asked about emergency action to counteract a recession.

‘Well, first of all I don’t see a recession at all. Second of all, the Trump pro-growth program, which I believe has been succeeding lower tax rates, bid rollback of regulations, energy opening, trade reform, we’re going to stay with that,’ he said. ‘We believe that’s the heart of the free enterprise. We want an incentive-oriented supply-side economy, providing opportunities for everybody across the board.’

He said, ‘That’s about as good as it gets and I notice, at the end of the week, a lot of the Wall Street firms have been marking up their economic growth forecasts. I think we’re in pretty good shape and I want to just say you know, we should not be afraid of optimism.’

Under questioning about a call that Trump had last Wednesday with JP Morgan’s Jamie Dimon and the CEOs of two other leading lenders, he suggested the conversation was about the president’s tariffs on China.

The lender said Tuesday that the next round of tariffs, which were delayed until Dec. 15, are likely to bring the cost per household this year up to $1,000.

Trump and his aides have now spent days denying publicly that a recession is on the horizon and the U.S. needs to take action. The president said Sunday that he’s ‘prepared’ to counteract one, though, if a financial downturn takes the country by surprise.

Trump insisted that American consumers are ‘not paying for the tariffs’ that he has on $250 billion of Chinese goods, so far, and said he’s reconsidering a plan to put tariffs on laptops and cells phones in December, to protect American consumers and companies.

He accused his political opponents of trying to bring down the United States’ economy to hurt his reelection chances on Monday, as his administration tried to put out a wildfire of claims that a recession might be on the way.

Trump said Monday that economy is doing well despite ‘very selfish’ political angling of Democrats on a mission to oust him from the White House.

‘Our Economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed, but the Democrats are trying to “will” the Economy to be bad for purposes of the 2020 Election. Very Selfish! Our dollar is so strong that it is sadly hurting other parts of the world,’ he tweeted.

On the spot: Donald Trump and his aides have now spent days denying that a recession is looming

On the spot: Donald Trump and his aides have now spent days denying that a recession is looming

Trump said that economy is doing well despite 'very selfish' political angling of Democrats, who are on a mission to oust him from the White House

Trump said that economy is doing well despite ‘very selfish’ political angling of Democrats, who are on a mission to oust him from the White House

He added, ‘The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well. If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!’

Last week, the president accused the media of ‘doing everything they can to crash the economy because they think that will be bad for me and my re-election.’

He blamed a wide array of third parties, including Joe Biden and the Hong Kong protesters, accusing them of scuttling a trade deal with Beijing that would help both countries’ economies.

Three-quarters of economists predict a U.S. recession by 2021 in survey – but number who say it will be after the presidential election rises

A number of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021.

In total, 74% economists surveyed by the National Association for Business Economics, in a report being released Monday, said they believe a slowing economy will tip into recession by 2021.

However there is some good news in the survey for the president, with the number who see a recession in 2020 down from 42% to 38%, while the number predicting a 2021 recession is at 34%.  That’s up from 25% in a survey taken in February.

Only 2% of those polled expect a recession to begin this year, down from 10% in February. A slightly higher number than before – 14% – say it will be later than 2021.

Trump, however, has dismissed concerns about a recession, offering an optimistic outlook for the economy after last week’s steep drop in the financial markets and saying on Sunday, ‘I don’t think we’re having a recession.’ A strong economy is key to the Republican president’s 2020 reelection prospects.

The economists have previously expressed concern that Trump’s tariffs and higher budget deficits could eventually dampen the economy.

Response: What business economists surveyed by the National Association for Business Economics are saying about a downturn

Response: What business economists surveyed by the National Association for Business Economics are saying about a downturn

The Trump administration has imposed tariffs on goods from many key U.S. trading partners, from China and Europe to Mexico and Canada.

Officials maintain that the tariffs, which are taxes on imports, will help the administration gain more favorable terms of trade. But U.S. trading partners have simply retaliated with tariffs of their own.

Trade between the U.S. and China, the two biggest global economies, has plunged. Trump decided last Wednesday to postpone until Dec. 15 tariffs on about 60% of an additional $300 billion of Chinese imports, granting a reprieve from a planned move that would have extended duties to nearly everything the U.S. buys from China.

The financial markets last week signaled the possibility of a U.S. recession, adding to concerns over the ongoing trade tensions and word from Britain and Germany that their economies are shrinking.

The economists surveyed by the NABE were skeptical about prospects for success of the latest round of U.S.-China trade negotiations. Only 5% predicted that a comprehensive trade deal would result, 64% suggested a superficial agreement was possible and nearly 25% expected nothing to be agreed upon by the two countries.

The 226 respondents, who work mainly for corporations and trade associations, were surveyed between July 14 and Aug. 1.

That was before the White House announced 10% tariffs on the additional $300 billion of Chinese imports, the Chinese currency dipped below the seven-yuan-to-$1 level for the first time in 11 years and the Trump administration formally labeled China a currency manipulator.

As a whole, the business economists’ recent responses have represented a rebuke of the Trump administration’s overall approach to the economy.

Still, for now, most economic signs appear solid. Employers are adding jobs at a steady pace, the unemployment rate remains near a 50-year low and consumers are optimistic. U.S. retail sales figures out last Thursday showed that they jumped in July by the most in four months.

The survey showed a steep decline in the percentage of economists who found the $1.5 trillion in tax cuts over the next decade ‘too stimulative’ and likely to produce higher budget deficits that should be reduced, to 51% currently from 71% in August 2018.

https://www.dailymail.co.uk/news/article-7376495/Trump-says-hes-looking-payroll-tax-cut-pushes-recession-claims.html

 

Story 4: Big Lie Media. Radical Extremist Democrat Socialists (REDS), and Trump Haters Hope The United States Economy Goes Into A Recession to Defeat Trump — Betrayal of The American People — Videos

Are Trump’s media critics rooting for recession?

Bill Maher roots for recession to get Trump out of office

Bill Maher says recession is ‘worth it’ if Trump loses in 2020

Lou Dobbs Tonight 8/20/19 | Breaking Fox News August 20, 2019

Is the world heading for a recession? | FT

Trump Warns of Economic Downturn if He Loses Next Year

Trump’s Victory Shattered The Democrats, They’ve Been Struggling Ever Since

White House dismisses fears of a recession l ABC News

 

Recession is at the top of Trump haters’ wish list

I’m not saying they are just hoping for a recession. It’s obvious the haters would like that.

But are they trying to cause a recession?

Comedian and Trump ultra-hater Bill Maher has already spoken for his side. “We have survived many recessions. We can’t survive another Donald Trump term,” Maher is quoted as saying.

You know what: Trying to cause a recession would actually be the most rational thing the president’s opponents have tried. The trouble is, this strategy doesn’t seem to be working. Not yet, at least.

I’ll get to that in a bit.

But first let’s go over the more irrational solutions that the president’s opponents have considered or have actually acted upon.

Right after the election, the Trump haters floated these doozies: Get the Electoral College voters to go against the wishes of their states and keep Trump from the presidency. When that didn’t work, they tried — at least according to a wishful press — to get members of Trump’s own cabinet to decline him unfit for office.

Strike two.

And, of course, there was whatever was going on inside the FBI and other intelligence agencies that were spying on the Trump campaign and pulling dirty tricks before and after his election.

That didn’t work either and we will find out more about what was going on when a report concerning all this comes from Michael Horowitz, the inspector general of the Justice Department, sometime in the very near future.

So that brings us back to the possibility — and for the haters, the last hope — that there will be a recession and that it will affect the next presidential election, which is a little more than a year away.

As I said, this isn’t an irrational tactic to take against Trump.

Elections are mostly won or lost on how the economy is doing. And right now, while there is lots of talk about a 2020 recession that will hurt Trump, that’s really all it is — talk. And it’s mostly talk in the media and among Democrats.

But this chatter is causing Trump to bring up the issue of a recession regularly to defend himself — which publicizes the possibility of an economic downturn even more.

You have probably heard that consumers control about 80% of the US economy. Recessions happen for a lot of reasons — a mistake by the Federal Reserve, economic problems overseas, careless lending by banks, a stock market crash, trade wars and war wars.

Some of those things, and others, can lead to a recession. But most of the things I just mentioned have been going on at times over the past 10 years and still there hasn’t been a recession since the Great One of 2007 to 2009.

But the quickest way to cause a recession is to kill the confidence of consumers. Without the consumer being willing to spend, the economy will crap out.

That’s where all the talk of a recession comes in. If the Trump haters in and outside the media can convince consumers that the next recession is right around the corner, the next recession just might be right around the corner.

And with any luck, the recession will happen just in time to be on voters’ minds when they decide whether to keep President Trump in office or kick him to the cul-de-sac.

What the haters really need is for Americans to forget all the irrational stuff they’ve already failed at and just focus on the economy. “It’s the economy, stupid,” is a Bill Clinton campaign motto that would need to be revised.

But here’s the problem. While helping cause a recession might be the rational thing for the haters to do politically, it comes with many drawbacks.

The biggest is that voters might figure out what the haters are doing and be pissed.

A recession will bring job losses. Will the American public blame the president, or can Trump cast the blame on his opponents?

And if this tactic is perceived as just another dirty trick, it might take the Democrats a very long time to regain the public’s support.

Trump certainly isn’t getting the kind of economy he wanted and even predicted. But growth is still around 2% a year, about where it was during most of the Obama administration.

Unemployment for everyone is down. And people are still spending, as recent retail sales figure show.

And the stock market is doing just fine, despite the president’s panic every time if falls a few percentage points.

But US debt levels have skyrocketed as Trump tried to boost the economy through a tax cut. And a tricky thing is happening in the bond markets — yields of shorter maturity government securities are higher than long-maturity yields.

This yield “inversion,” the experts say, is an omen of a coming recession. And the haters hope they are right.

Maybe, maybe not.

The chaos in the world could be making the US bond market flaky as foreign investors try to get assets out of their own country and into ours. And that, or some other market quirk, could be causing the inversion.

This is all quite intriguing and will make a great movie one of these days. But right now, it’s just a drama that will end — thankfully — in November 2020.

https://nypost.com/2019/08/19/recession-is-at-the-top-of-trump-haters-wish-list/

 

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The Pronk Pops Show 1278, June 20, 2019, Part 1– Story 1: President Trump: “Iran made a very big mistake” — Option A: Strong Message and Done , Option B: One Missile Attack and Done, Option C: Total War With Iran and World Recession Due To Spike in Oil and Gas Prices — Videos — Story 2: Federal Reserve Board Votes To Keep Federal Funds Target Range of 2.25% to 2.5% Waiting For July 2019 Jobs Report and Second Quarter Real GDP Growth Rate Number — Videos — Story 3: Creepy, Sleepy, Dopey Joey Biden in Praise of Civility of Democrat Segregationist Senators — Radical Extremist Democrats (REDS) Attack Biden — Videos — Part 2– Story 4: President Trump Pushes All The Right Buttons in 2020 Stump Speech in Orlando, Florida — Boom Boom Boom — Send Them Home — MAGA MAGA MAGA — Lock Them Up — Four More Years — Keep America Great — Win Win Win — Videos

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Pronk Pops Show 1278 June 20, 2019 

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Story 1: President Trump: “Iran made a very big mistake” — Option A: Strong Message and Done, Option B: One Missile Attack and Done, Option C: Total War With Iran and World Recession Due To Spike in Oil and Gas Prices — Videos —

Tucker: Washington is war-hungry

Pentagon releases footage of US drone being shot down by Iran

LIVE: President Trump first comments after Iran shoots down US Drone | June 20th 2019

US is bringing the Iranian economy to its knees: Nile Gardiner

Oil prices rise after Iran shoots down US drone

40% Chance of 2020 U.S.-Iran Military Conflict: Eurasia CEO

Iran shoots down US drone as tensions escalate

Video shows Iran shooting down US drone

Iran says it shot down US drone ‘violating Iranian air space’ amid growing tensions

Iran Shot Down U.S. Drone to Disrupt Trade in Persian Gulf, Senior U.S. Military Official Says

President Trump makes first comments after Iran shoots down U.S. Drone | ABC News Special Report

Iran says it’s ‘ready for war’

Iran shoots down US military spy drone | DW News

Iran says it will breach nuclear deal ‘in days’ as its uranium stockpile limit nears

Is The U.S. Going To War With Iran? | AJ+

Iran’s foreign minister accuses US, Mideast of provoking conflict

Iran’s Zarif thrashes Trump, “US driven by pathological obsession” (Munich Security Conference 2019)

Can air strikes take out Iran’s nuclear facilities?

Did Trump Just Blink or Bluff in Standoff With Iran?

Anthony Halpin

Bloomberg

Was it all a bluff? After news leaked that President Donald Trump approved and then called off U.S. airstrikes on Iran last night, it emerged he’d warned Tehran about an imminent attack while insisting he was against a war.

Today, as airlines began re-routing flights away from the Strait of Hormuz, Iran’s Foreign Ministry called in the Swiss ambassador, who also represents U.S. interests, for talks.

Was the outreach why Trump abandoned the strikes? Or was this the latest example of the whipsaw approach from a president who’s twice attacked Syria but also backed away from using force after lashing out at Iran and North Korea?

The leak of Trump’s about-face also speaks volumes about the battle for influence in the White House. Hardliners clearly thought they’d convinced him to back a tough response to Iran’s downing of a U.S. Navy drone. Yet Trump was elected on a pledge to pull out of Middle East wars.

The president, who governs with the cliffhanger style of his Apprentice TV show, thrives on keeping supporters hooked on dramatic twists.

But as his 2020 re-election campaign gains steam, the stakes now include the prospect of armed conflict and instability in a region that supplies a third of the world’s oil.

Global Headlines

Biden’s burden | Democratic front-runner Joe Biden is encountering the same pitfalls as other seasoned politicians who’ve found their experience and record can be a liability. The former Delaware senator’s struggles to defend his remarks this week about finding common ground with two segregationists is an early sign of the trouble he could have explaining a complicated voting record and his nostalgia for a Washington collegiality that has steadily diminished since he was first elected in 1972.

Border control | Trump praised Mexico’s efforts to crack down on migrants crossing the border into the U.S. after the two countries entered an agreement aimed at stemming the flow of people entering Mexico from Central America. Mexico will take greater control of its southern border and ask foreigners to register their arrival.

Osaka drama | Before Trump, Group of 20 summits were dull if worthy affairs. This year’s gathering in Osaka, Japan next week promises to be anything but, as the U.S. president holds talks with China’s Xi Jinping after threatening to escalate their trade conflict. The best-case scenario would be a pause in new U.S. tariffs and a resumption of negotiations that broke down in May. The worst-case would be a new Cold War between the two largest economies.

Favorites flushed | European Union leaders cast aside the candidates who’ve dominated the race to head the next EU Commission and will start from scratch less than two weeks before a self-imposed deadline. The decision at a summit in Brussels extends gridlock that has left investors in the dark over a series of critical posts including the next president of the European Central Bank.

Bad air | As climate change tops political agendas from Washington to New Delhi, there’s no solution in sight for the bad air choking Europe’s poorest countries. While the EU has focused mostly on stability in the volatile Balkans, health problems and lost productivity from air pollution cost the continent more than 10 billion euros a year. Obsolete coal plants and cars spew smog and hundreds of thousands of people burn tires, wood and trash to stay warm.

What to Watch

Boris Johnson and Jeremy Hunt will go head-to-head in the contest to become the U.K.’s next prime minister as they seek votes from the Conservative Party’s 160,000 grassroots members over the next month. Ukraine’s Constitutional Court threw out a challenge to a decree by President Volodymyr Zelenskiy ordering early parliamentary elections. The ruling confirmed a vote will take place next month and a new government should be in place by the fall. Turkey reruns the election for mayor of Istanbul on Sunday, pitting former prime minister and ruling AK Party candidate Binali Yildirim against opposition challenger Ekrem Imamoglu, who was stripped of his narrow victory in the March 31 ballot.

And finally…The U.K. is poised to generate more energy from low-carbon sources than from fossil fuels for the first time since the Industrial Revolution. Wind, solar, hydro and nuclear plants provided 48% of the nation’s power in the first five months of this year. The U.K. has gone without burning coal, the dirtiest fossil fuel, for the equivalent of 80 days so far in 2019, including one stretch of 18 days in a row.

–With assistance from Kathleen Hunter and Daniel Ten Kate.

https://news.yahoo.com/did-trump-just-blink-bluff-100815556.html

Trump says Iran made ‘big mistake’ by taking down US drone

today

President Donald Trump speaks during a meeting with Canadian Prime Minister Justin Trudeau in the Oval Office of the White House, Thursday, June 20, 2019, in Washington. Trump declared Thursday that “Iran made a very big mistake” in shooting down a U.S. drone but suggested it was an accident rather than a strategic error. (AP Photo/Evan Vucci)

WASHINGTON (AP) — President Donald Trump declared Thursday that “Iran made a very big mistake” by shooting down a U.S. surveillance drone over the Strait of Hormuz but suggested it was a foolish error rather than an intentional escalation of the tensions that have led to rising fears of open military conflict.

Asked about a U.S. response, the president said pointedly, “You’ll soon find out.”

The downing of the huge, unmanned aircraft , which Iran portrayed as a deliberate defense of its territory rather than a mistake, was a stark reminder of the risk of military conflict between U.S. and Iranian forces as the Trump administration combines a “maximum pressure” campaign of economic sanctions against Iran with a buildup of American forces in the region.

The drone — which has a wingspan wider than a Boeing 737 — entered Iranian airspace “despite repeated radio warnings” and was shot down by Iran, acting under the U.N. Charter which allows self-defense action “if an armed attack occurs,” Iran’s U.N. Ambassador Majid Takht Ravanchi said in a letter to the U.N. secretary-general.

Donald Trump is playing down Iran's downing of an American drone, saying that it might have been a mistake executed by someone just being "loose and stupid." He said it was a "new wrinkle" in escalating tensions between the U.S. and Iran. (June 20)

Trump, who has said he wants to avoid war and negotiate with Iran over its nuclear ambitions, appeared to play down the significance of the shootdown.

He cast it as “a new wrinkle … a new fly in the ointment.” Yet he also said that “this country will not stand for it, that I can tell you.”

Shortly before Trump spoke, Air Force Lt. Gen. Joseph Guastella, commander of U.S. Central Command air forces in the region, took a more pointed view of the shootdown in an area where Trump has blamed Iran for attacking shipping vessels.

“This attack is an attempt to disrupt our ability to monitor the area following recent threats to international shipping and free flow of commerce,” he said.

The Trump administration has been putting increasing economic pressure on Iran for more than a year. It reinstated punishing sanctions following Trump’s decision to pull the U.S. out of an international agreement intended to limit Iran’s nuclear program in exchange for relief from earlier sanctions.

The other world powers who remain signed on to the nuclear deal have set a meeting to discuss the U.S. withdrawal and Iran’s announced plans to increase its uranium stockpile for June 28, a date far enough in the future to perhaps allow tensions to cool.

Citing Iranian threats, the U.S. recently sent an aircraft carrier to the Persian Gulf region and deployed additional troops alongside the tens of thousands already there. All this has raised fears that a miscalculation or further rise in tensions could push the U.S. and Iran into an open conflict 40 years after Tehran’s Islamic Revolution.

“We do not have any intention for war with any country, but we are fully ready for war,” Revolutionary Guard commander Gen. Hossein Salami said in a televised address.

The paramilitary Guard, which answers only to Supreme Leader Ayatollah Ali Khamenei, said it shot down the drone at 4:05 a.m. Thursday when it entered Iranian airspace near the Kouhmobarak district in southern Iran’s Hormozgan province. Kouhmobarak is about 1,200 kilometers (750 miles) southeast of Tehran.

The first U.S. reaction was Trump’s Thursday morning tweet of six forceful words: “Iran made a very big mistake.”

But later, while meeting with Canadian Prime Minister Justin Trudeau, Trump said, “I would imagine it was a general or somebody that made a mistake in shooting that drone down.

He said the American drone was unarmed and unmanned and “clearly over international waters.” It would have “made a big, big difference” if someone had been inside, he said.

“I find it hard to believe it was intentional, if you want to know the truth,” Trump said. “I think that it could have been somebody who was loose and stupid that did it.”

Taking issue with the U.S. version of where the attack occurred, Iranian Foreign Minister Mohammad Javad Zarif tweeted that his country had retrieved sections of the military drone “in OUR territorial waters where it was shot down.” He said, “We don’t seek war but will zealously defend our skies, land & waters.”

U.S. Gen. Guastella disputed that contention, telling reporters that the aircraft was 34 kilometers (21 miles) from the nearest Iranian territory and flying at high altitude when struck by a surface-to-air missile. The U.S. military has not commented on the mission of the remotely piloted aircraft that can fly higher than 10 miles in altitude and stay in the air for over 24 hours at a time.

One U.S. official said there was a second American aircraft in the area that was able to get video and imagery of the drone when it was shot down.

Congressional leaders came to the White House for an hour-long briefing in the Situation Room late Thursday with top national security officials including Secretary of State Mike Pompeo, CIA Director Gina Haspel, Joint Chiefs Chairman Gen. Joseph Dunford acting Defense Secretary Patrick Shanahan and Army Secretary Mark Esper, whom Trump has said he’ll nominate as Pentagon chief.

The Senate’s top Democrat called the downing of the American drone “deeply concerning” and accused the administration of not having an Iran strategy and keeping Congress and the rest of the nation in the dark.

“The president needs to explain to the American people why he’s driving us toward another endless conflict in the Middle East,” said Sen. Chuck Schumer of New York.

House Speaker Nancy Pelosi said she didn’t think Trump wanted war with Iran and the American people have “no appetite” for it either. She said the U.S. needs to be “strong and strategic” about protecting its interests but “cannot be reckless.”

Talking tougher, Republican Sen. Lindsey Graham of South Carolina called Iran a “murderous regime” and said, “If they’re itching for a fight they’re going to get one.”

“We’re a lot closer today than we were yesterday, and only God knows what tomorrow brings,” said Graham, a Trump ally who talked with the president by telephone.

The senator also focused on the issue of Iran’s nuclear ambitions, saying its leaders have refused to negotiate after Trump withdrew the U.S. from the international agreement to limit Iranian development of nuclear weapons.

Graham said it’s imperative that the U.S. clearly tell the Iranians that any attempt to increase uranium enrichment will be seen as a “hostile act against the United States and our allies in Israel and will not go unanswered.”

Another factor: This all comes as Trump is launching his re-election campaign. He ran for president promising to bring American troops home from the Middle East and Afghanistan and has repeatedly said he wants to keep America out of “endless wars.”

Ari Fleischer, who was press secretary for President George W. Bush, cautioned against thinking about politics when weighing any response to Iran.

“I suspect a successful limited counter-strike, such as taking out the missile battery that fired at the drone or the sinking of an unmanned Iranian vessel, would be seen as a well-calibrated show of resolve and discipline,” Fleischer said in an interview. He added that “if we do nothing, Iran may strike again thinking it has impunity.”

https://apnews.com/84ad15edb7324472bb867852059a0a7a

Iran shoots down US surveillance drone, heightening tensions

29 minutes ago

In this Oct. 24, 2018, photo released by the U.S. Air Force, members of the 7th Reconnaissance Squadron prepare to launch an RQ-4 Global Hawk at Naval Air Station Sigonella, Italy. Iran’s Revolutionary Guard shot down a U.S. RQ-4 Global Hawk on Thursday, June 20, 2019, amid heightened tensions between Tehran and Washington over its collapsing nuclear deal with world powers, American and Iranian officials said, though they disputed the circumstances of the incident. (Staff Sgt. Ramon A. Adelan/U.S. Air Force via AP)

TEHRAN, Iran (AP) — Iran’s Revolutionary Guard shot down a U.S. surveillance drone Thursday in the Strait of Hormuz, marking the first time the Islamic Republic directly attacked the American military amid tensions over Tehran’s unraveling nuclear deal with world powers.

The two countries disputed the circumstances leading up to an Iranian surface-to-air missile bringing down the U.S. Navy RQ-4A Global Hawk, an unmanned aircraft with a wingspan larger than a Boeing 737 jetliner and costing over $100 million.

Iran said the drone “violated” its territorial airspace, while the U.S. called the missile fire “an unprovoked attack” in international airspace over the narrow mouth of the Persian Gulf and President Donald Trump tweeted that “Iran made a very big mistake!”

Trump later appeared to play down the incident, telling reporters in the Oval Office that he had a feeling that “a general or somebody” being “loose and stupid” made a mistake in shooting down the drone.

AP Graphic

The incident immediately heightened the crisis already gripping the wider region, which is rooted in Trump withdrawing the U.S. a year ago from Iran’s 2015 nuclear deal and imposing crippling new sanctions on Tehran. Recently, Iran quadrupled its production of low-enriched uranium to be on pace to break one of the deal’s terms by next week while threatening to raise enrichment closer to weapons-grade levels on July 7 if Europe doesn’t offer it a new deal.

Citing unspecified Iranian threats, the U.S. has sent an aircraft carrier to the Middle East and deployed additional troops alongside the tens of thousands already there. All this has raised fears that a miscalculation or further rise in tensions could push the U.S. and Iran into an open conflict 40 years after Tehran’s Islamic Revolution.

“We do not have any intention for war with any country, but we are fully ready for war,” Revolutionary Guard commander Gen. Hossein Salami said in a televised address.

The paramilitary Guard, which answers only to Supreme Leader Ayatollah Ali Khamenei, said it shot down the drone at 4:05 a.m. Thursday when it entered Iranian airspace near the Kouhmobarak district in southern Iran’s Hormozgan province. Kouhmobarak is about 1,200 kilometers (750 miles) southeast of Tehran.

Iran’s Revolutionary Guard commander Gen. Hossein Salami. (Sepahnews via AP)

The drone took off from the southern Persian Gulf and collected data from Iranian territory, including the southern port of Chahbahar near Iran’s border with Pakistan, the Guard said in comments that appeared aimed at showing it could track the aircraft.

The U.S. military has not commented on the mission of the remotely piloted aircraft that can fly higher than 10 miles in altitude and stay in the air for over 24 hours at a time.

Iran used its air defense system known as Third of Khordad to shoot down the drone — a truck-based missile system that can fire up to 18 miles (30 kilometers) into the sky, the semi-official Fars news agency reported.

Iranian state TV later broadcast video it described as the moment the Guard launched the surface-to-air missile that struck the U.S. drone. Chants of “God is great!” could be heard as a fireball appeared in the darkened sky.

Typically, militaries worldwide call out to errant aircraft entering their airspace before firing. It’s unclear whether Iran gave any warning before opening fire. The U.S. military says Iran fired on and missed another drone last week near the Strait of Hormuz, the narrow mouth of the Persian Gulf through which 20% of all global oil moves.

The U.S. has been worried about international shipping through the strategic waterway since tankers were damaged in May and June in what Washington has blamed on limpet mines from Iran, although Tehran denied involvement.. On Wednesday in the United Arab Emirates, the U.S. Navy showed fragments of mines that it said bore “a striking resemblance” to those seen in Iran

The RQ-4 Global Hawk was at least 34 kilometers from Iranian territory when it was shot down by an Iranian surface-to-air missile, said Air Force Lt. Gen. Joseph Guastella, commander of the U.S. Central Command. He said it was an attempt to disrupt U.S. efforts to monitor the Persian Gulf region.

But Salami, speaking to a crowd in the western city of Sanandaj, described the American drone as “violating our national security border.”

“Borders are our red line,” the Revolutionary Guard general said. “Any enemy that violates the borders will be annihilated.”

Iran’s Foreign Ministry also said the drone entered Iranian airspace, and Foreign Minister Mohammad Javad Zarif tweeted it would take its case to the U.N. He later tweeted that Iran retrieved parts of the drone in its territorial waters.

Russian President Vladimir Putin urged caution, warning any war between Iran and the U.S. would be a “catastrophe for the region as a minimum.”

Israeli Prime Minister Benjamin Netanyahu urged support for U.S. efforts to halt what he called escalating Iranian provocations.

“In the last 24 hours, Iran has intensified its aggression against the United States and against all of us,” he said.

U.N. Secretary-General Antonio Guterres expressed concern and urged all parties to “avoid any action that could inflame the situation,” said U.N. spokesman Stephane Dujarric.

America stations some RQ-4 Global Hawks at the Al-Dhafra Air Base in the UAE, near the capital of Abu Dhabi. Associated Press journalists saw the drones on the base’s tarmac during a March 2016 visit by then-Vice President Joe Biden. The U.S. military occasionally publishes images from there of the drones, which have a distinctive hump-shaped front and an engine atop the fuselage.

Iran has claimed to have shot down U.S. drones before. In the most famous incident, in December 2011, Iran seized an RQ-170 Sentinel flown by the CIA to monitor Iranian nuclear sites after it entered Iranian airspace from neighboring Afghanistan. Iran later reverse-engineered the drone to create their own variants.

Elsewhere in the region Thursday, Saudi Arabia said Yemen’s Iranian-backed Houthi rebels fired a rocket at a desalination plant in al-Shuqaiq, a city in the kingdom’s Jizan province. The state-run Saudi Press Agency quoted military spokesman Col. Turki al-Maliki as saying it caused no damage or casualties.

The Yemeni rebel Al-Masirah satellite news channel earlier said the Houthis targeted a power plant in Jizan, near the kingdom’s border with Yemen, with a cruise missile.

A coalition led by Saudi Arabia, a key U.S. ally, has been battling the Houthis since March 2015 in Yemen, the Arab world’s poorest nation now pushed to the brink of famine by the conflict. In recent weeks, the Houthis have launched a new campaign sending missiles and bomb-laden drones into Saudi Arabia.

https://apnews.com/e4316eb989d5499c9828350de8524963

 

 

Story 2: Federal Reserve Board Votes To Keep Federal Funds Target Range of 2.25% to 2.5% Waiting For July 2019 Jobs Report and Second Quarter Real GDP Growth Rate Number — Videos

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Trump slams Fed over interest rate policy

Fed Chair Jerome Powell speaks to media following interest rate decision – 06/19/2019

Sen. Tillis Says Fed Made Mistake in December, Defers to Trump on Powell Demotion

The Federal Reserve didn’t cut rates, but does the rally need the Fed?

Steve Keen Says U.S. Heading for 2020 Recession

Cramer: Stocks would probably rise if Trump removed Powell as Fed chair

Fed Chair Jerome Powell speaks on monetary policy – 06/04/2019

Fed wary of economic clouds, but leaves interest rates unchanged for now

Goldman Sees Fed ‘Not Likely to Cut’ Rates in July, Kostin Says

The Federal Fund Rate in 4 Minutes

Macro 4.1- Money Market and FED Tools (Monetary Policy)

Discount Rate and Federal Funds Rate

What is the Yield Curve, and Why is it Flattening?

Why Investors Are Obsessed With the Inverted Yield Curve

Here’s what experts are saying about the inverted yield curve

Trump expected Powell to be a ‘cheap-money’ Fed chairman

S&P 500 closes at new record as Wall Street bets Fed will lower rates, Dow surges nearly 250 points

VIDEO02:12
The S&P 500 just closed at a record high — Here’s what four experts say to watch

Stocks rallied on Thursday, led by strong gains in tech and energy shares, as Wall Street cheered the possibility that the Federal Reserve will cut interest rates next month.

The S&P 500 surged 1% to 2,954.18, a record close. The broad index also hit an intraday record of 2,958.06. The Dow Jones Industrial Average closed 249.17 points higher at 26,753.17. The Nasdaq Composite gained 0.8% to end the day at 8,051.34.

The yield on the 10-year Treasury fell below 2% for the first time since November 2016. Investors cheered the decline in the benchmark for mortgage rates and corporate bonds.

The energy sector rose more than 2% to lead all 11 S&P 500 sectors higher as oil prices jumped. Tech gained 1.4% after shares of Oracle surged more than 8% on stronger-than-forecast earnings. General Electric’s 2.8% rise pushed the industrials sector up more than 1.6% on the day.

“Markets are based on numbers and perception. If the perception is rates are getting cut, that’s going to drive markets higher,” said Kathy Entwistle, senior vice president of wealth management at UBS. “UBS’ stance up until yesterday was we wouldn’t see any rate cuts this year. Now we see a much larger chance of a 50-basis-point cut.”

The Fed said Wednesday it stands ready to battle growing global and domestic economic risks as they took stock of intensifying trade tensions and growing concerns about inflation. Most Fed policymakers slashed their rate outlook for the rest of the calendar year by approximately half a percentage point in the previous session, while Chairman Jerome Powell said others agree the case for lower rates is building.

Policymakers also dropped “patient” from the Fed’s statement and acknowledged that inflation is “running below” its 2% objective.

Market participants viewed the overall tone from the U.S. central bank as more dovish than expected. Traders are now pricing in a 100% chance of a rate cutnext month, according to the CME FedWatch tool.

With Thursday’s gains, the market has now erased the steep losses recorded by the major indexes in May, which were sparked by trade fears. The S&P 500 and Dow both fell more than 6% while the Nasdaq lost 7.9% last month. The three indexes were up more than 7% for June.

China and the U.S. hiked tariffs on billions of dollars worth of their goods in May. Stocks turned around this month as traders bet the rising trade tensions, coupled with weaker economic data, would lead the Fed to ease its monetary policy stance.

The Fed’s message on Wednesday sent the 10-year Treasury yield to as low as 1.974% before ending the day around 2.02%. The yield stood at 2.8% in January.

“The FOMC reinforced the market’s conviction,” said Steve Blitz, chief U.S. economist at TS Lombard, in a note. “Barring a dramatic turnaround in the data, the next move is a cut – perhaps even a 50bp reduction.”

The dollar also took a hit against other major currencies. The dollar index dropped 0.5% to 96.65, led by a 0.6% slide in the euro. The yen and Canadian dollar also rose against the U.S. currency.

Energy shares got a boost from higher oil prices. The Energy Select Sector SPDR Fund (XLE) climbed 2.2% as shares of Exxon Mobil gained 1.7%. Oil prices surged 5.4% after a U.S. official said a drone was shot down over Iranian airspace.

Meanwhile, Slack shares surged more than 40% in their first day of trading. The stock closed above $38 after setting a reference price of $26.

https://www.cnbc.com/2019/06/20/stock-market-dow-futures-higher-after-fed-raises-rate-cut-hopes.html

Federal Open Market Committee

About the FOMC

Recent FOMC press conference

June 19, 2019

FOMC Transcripts and other historical materials

The term “monetary policy” refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy.

The Federal Reserve controls the three tools of monetary policy–open market operationsthe discount rate, and reserve requirements. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the federal funds rate. The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.

Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services.

Structure of the FOMC

The Federal Open Market Committee (FOMC) consists of twelve members–the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of Banks, one Bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee’s assessment of the economy and policy options.

The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.

For more detail on the FOMC and monetary policy, see section 2 of the brochure on the structure of the Federal Reserve Systemand chapter 2 of Purposes & Functions of the Federal Reserve System. FOMC Rules and Authorizations are also available online.

2019 Committee Members

Alternate Members

Federal Reserve Bank Rotation on the FOMC

Committee membership changes at the first regularly scheduled meeting of the year.

2020 2021 2022
Members New York
Cleveland
Philadelphia
Dallas
Minneapolis
New York
Chicago
Richmond
Atlanta
San Francisco
New York
Cleveland
Boston
St. Louis
Kansas City
Alternate
Members
New York
Chicago
Richmond
Atlanta
San Francisco
New York
Cleveland
Boston
St. Louis
Kansas City
New York
Chicago
Philadelphia
Dallas
Minneapolis

 †For the Federal Reserve Bank of New York, the First Vice President is the alternate for the President. Return to table

For additional information, please use the FOMC FOIA request form.

https://www.federalreserve.gov/monetarypolicy/fomc.htm

 

Fed holds rates steady, but opens the door for a rate cut in the future

The action sets up a possible confrontation between Fed Chairman Jerome Powell and President Donald Trump, who has been pressuring the Fed to cut rates. Just Tuesday, Trump said “let’s see what he does” at the Fed meeting when asked if he still wants to demote Powell.

At the post-statement news conference, Powell was asked about his future as chairman. “I think the law is clear that I have a four year term, and I fully intend to serve it,” he said.

The strong majority for this month’s decision contrasted with a sharp difference of opinion on what happens next.

The committee provided an important nod to those worried about slower growth: It dropped the word “patient” in  describing its approach to policy. The characterization was a key part of the Fed “pivot” earlier this year that signaled to the market a more dovish approach to rates.

“The Fed didn’t surprise investors with the decision to maintain rates, but the split vote tells us that a cut is on the way and it’s increasingly likely that will be in July, as bond markets have been hoping,” said Neil Birrell, chief investment officer at Premier Asset Management.

“This was probably the compromise decision — it wasn’t shocking and should offer some reassurance,” Steve Rick, chief economist at CUNA Mutual Group, said in a note. “The FOMC will still want to closely monitor the stress fractures from the bond market, middling housing and auto sales numbers, and an increasingly uncertain global economic landscape in the coming months.”

The statement also changed wording to concede that inflation is “running below” the Fed’s 2% objective. In their forecast for headline inflation this year, officials slashed the estimate to 1.5% from March’s 1.8%. Core inflation, which excludes volatile food and energy prices, is likely now to be 1.8% from March’s 2%, according to the quarterly summary of economic projections also released Wednesday.

‘In light of these uncertainties’

The committee changed language from its May statement to indicate that economic activity is “rising at a moderate rate,” a downgrade from “solid.”

In their baseline scenario, FOMC members said they still expect “sustained expansion of economic activity” and a move toward 2% inflation, but realize that “uncertainties about this outlook have increased.”

“In light of these uncertainties and muted inflation pressures, the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2 percent objective,” the statement said. The “act as appropriate to sustain the expansion” language mirrors a statement from Powell in early June.

Very reasonable to think Fed will cut rates twice this year: Strategist

The committee characterized the labor market as “strong” with “solid” jobs growth, despite May’s disappointing nonfarm payrolls growth of 75,000. The statement further said that household spending “appears to have picked up from earlier in the year.”

The changes came amid what appeared to be little consensus among the committee about where rates go next.

Divided Fed

According to the “dot plot” of individual members’ expectations, eight members favor one cut this year while the same number voted in favor of the status quo and one still wants a rate hike. Bullard and Minneapolis Fed President Neel Kashkari have led the public discussion about the potential for rate cuts, while other members have been less firm.

Into 2020, the Fed consensus was a bit stronger, with nine members wanting a cut to a funds rate around 2.1%. The direction changes, though, in 2021, with indications of an increase of about a quarter-point, culminating in an expected long-run value of 2.5%. The funds rate most recently was trading at 2.37%.

Traders in the thin and volatile funds market had been pricing in a 26% chance of a cut at this week’s meeting. Later in the year, though, the probability for a July easing rose to 82.5% and the chances of a second cut in December were most recently at 60.4%. The market expects a third cut to come around March of 2020.

While the statement language offered some significant changes, estimates in the summary of economic projections, other than inflation, moved little from March. GDP growth is still expected to be 2.1% for the year – it was 3.1% in the first quarter, and the Atlanta Fed is forecasting a 2% gain in the second quarter. The unemployment rate is now expected to hold at a 50-year low of 3.6%, against the March forecast of 3.7%.

https://www.cnbc.com/2019/06/19/fed-decision-fed-leaves-rates-unchanged.html

10-year Treasury yield drops below 2% for first time since November 2016

Federal funds rate

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Federal Funds Rate compared to U.S. Treasury interest rates

2 to 10 year treasury yield spread

Inflation (blue) compared to federal funds rate (red)

Quarterly gross domestic product compared to Federal Funds Rate.

Federal Funds Rate and Treasury interest rates from 2002-2019

In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis. Reserve balances are amounts held at the Federal Reserve to maintain depository institutions’ reserve requirements. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds rate is an important benchmark in financial markets.[1][2]

The interest rate that the borrowing bank pays to the lending bank to borrow the funds is negotiated between the two banks, and the weighted average of this rate across all such transactions is the federal funds effective rate.

The federal funds target rate is determined by a meeting of the members of the Federal Open Market Committee which normally occurs eight times a year about seven weeks apart. The committee may also hold additional meetings and implement target rate changes outside of its normal schedule.

The Federal Reserve uses open market operations to make the federal funds effective rate follow the federal funds target rate. The target rate is chosen in part to influence the money supply in the U.S. economy[3]

Contents

Mechanism

Financial institutions are obligated by law to maintain certain levels of reserves, either as reserves with the Fed or as vault cash. The level of these reserves is determined by the outstanding assets and liabilities of each depository institution, as well as by the Fed itself, but is typically 10%[4] of the total value of the bank’s demand accounts (depending on bank size). In the range of $9.3 million to $43.9 million, for transaction deposits (checking accountsNOWs, and other deposits that can be used to make payments) the reserve requirement in 2007–2008 was 3 percent of the end-of-the-day daily average amount held over a two-week period. Transaction deposits over $43.9 million held at the same depository institution carried a 10 percent reserve requirement.

For example, assume a particular U.S. depository institution, in the normal course of business, issues a loan. This dispenses money and decreases the ratio of bank reserves to money loaned. If its reserve ratio drops below the legally required minimum, it must add to its reserves to remain compliant with Federal Reserve regulations. The bank can borrow the requisite funds from another bank that has a surplus in its account with the Fed. The interest rate that the borrowing bank pays to the lending bank to borrow the funds is negotiated between the two banks, and the weighted average of this rate across all such transactions is the federal funds effective rate.

The federal funds target rate is set by the governors of the Federal Reserve, which they enforce by open market operations and adjustments in the interest rate on reserves.[5] The target rate is almost always what is meant by the media referring to the Federal Reserve “changing interest rates.” The actual federal funds rate generally lies within a range of that target rate, as the Federal Reserve cannot set an exact value through open market operations.

Another way banks can borrow funds to keep up their required reserves is by taking a loan from the Federal Reserve itself at the discount window. These loans are subject to audit by the Fed, and the discount rate is usually higher than the federal funds rate. Confusion between these two kinds of loans often leads to confusion between the federal funds rate and the discount rate. Another difference is that while the Fed cannot set an exact federal funds rate, it does set the specific discount rate.

The federal funds rate target is decided by the governors at Federal Open Market Committee (FOMC) meetings. The FOMC members will either increase, decrease, or leave the rate unchanged depending on the meeting’s agenda and the economic conditions of the U.S. It is possible to infer the market expectations of the FOMC decisions at future meetings from the Chicago Board of Trade (CBOT) Fed Funds futures contracts, and these probabilities are widely reported in the financial media.

Applications

Interbank borrowing is essentially a way for banks to quickly raise money. For example, a bank may want to finance a major industrial effort but may not have the time to wait for deposits or interest (on loan payments) to come in. In such cases the bank will quickly raise this amount from other banks at an interest rate equal to or higher than the Federal funds rate.

Raising the federal funds rate will dissuade banks from taking out such inter-bank loans, which in turn will make cash that much harder to procure. Conversely, dropping the interest rates will encourage banks to borrow money and therefore invest more freely.[6] This interest rate is used as a regulatory tool to control how freely the U.S. economy operates.

By setting a higher discount rate the Federal Bank discourages banks from requisitioning funds from the Federal Bank, yet positions itself as a lender of last resort.

Comparison with LIBOR

Though the London Interbank Offered Rate (LIBOR) and the federal funds rate are concerned with the same action, i.e. interbank loans, they are distinct from one another, as follows:

  • The target federal funds rate is a target interest rate that is set by the FOMC for implementing U.S. monetary policies.
  • The (effective) federal funds rate is achieved through open market operations at the Domestic Trading Desk at the Federal Reserve Bank of New York which deals primarily in domestic securities (U.S. Treasury and federal agencies’ securities).[7]
  • LIBOR is based on a questionnaire where a selection of banks guess the rates at which they could borrow money from other banks.
  • LIBOR may or may not be used to derive business terms. It is not fixed beforehand and is not meant to have macroeconomic ramifications.[8]

Predictions by the market

Considering the wide impact a change in the federal funds rate can have on the value of the dollar and the amount of lending going to new economic activity, the Federal Reserve is closely watched by the market. The prices of Option contracts on fed funds futures (traded on the Chicago Board of Trade) can be used to infer the market’s expectations of future Fed policy changes. Based on CME Group 30-Day Fed Fund futures prices, which have long been used to express the market’s views on the likelihood of changes in U.S. monetary policy, the CME Group FedWatch tool allows market participants to view the probability of an upcoming Fed Rate hike. One set of such implied probabilities is published by the Cleveland Fed.

Historical rates

As of 19 December 2018 the target range for the Federal Funds Rate is 2.25–2.50%.[9] This represents the ninth increase in the target rate since tightening began in December 2015.[10]

The last full cycle of rate increases occurred between June 2004 and June 2006 as rates steadily rose from 1.00% to 5.25%. The target rate remained at 5.25% for over a year, until the Federal Reserve began lowering rates in September 2007. The last cycle of easing monetary policy through the rate was conducted from September 2007 to December 2008 as the target rate fell from 5.25% to a range of 0.00–0.25%. Between December 2008 and December 2015 the target rate remained at 0.00–0.25%, the lowest rate in the Federal Reserve’s history, as a reaction to the Financial crisis of 2007–2008 and its aftermath. According to Jack A. Ablin, chief investment officer at Harris Private Bank, one reason for this unprecedented move of having a range, rather than a specific rate, was because a rate of 0% could have had problematic implications for money market funds, whose fees could then outpace yields.[11]

Federal funds rate history and recessions.png

Explanation of federal funds rate decisions

When the Federal Open Market Committee wishes to reduce interest rates they will increase the supply of money by buying government securities. When additional supply is added and everything else remains constant, the price of borrowed funds – the federal funds rate – falls. Conversely, when the Committee wishes to increase the federal funds rate, they will instruct the Desk Manager to sell government securities, thereby taking the money they earn on the proceeds of those sales out of circulation and reducing the money supply. When supply is taken away and everything else remains constant, the interest rate will normally rise.[12]

The Federal Reserve has responded to a potential slow-down by lowering the target federal funds rate during recessions and other periods of lower growth. In fact, the Committee’s lowering has recently predated recessions,[13] in order to stimulate the economy and cushion the fall. Reducing the federal funds rate makes money cheaper, allowing an influx of credit into the economy through all types of loans.

The charts linked below show the relation between S&P 500 and interest rates.

  • July 13, 1990 — Sept 4, 1992: 8.00%–3.00% (Includes 1990–1991 recession)[14][15]
  • Feb 1, 1995 — Nov 17, 1998: 6.00–4.75 [16][17][18]
  • May 16, 2000 — June 25, 2003: 6.50–1.00 (Includes 2001 recession)[19][20][21]
  • June 29, 2006 — (Oct. 29 2008): 5.25–1.00[22]
  • Dec 16, 2008 — 0.0–0.25[23]
  • Dec 16, 2015 — 0.25–0.50[24]
  • Dec 14, 2016 — 0.50–0.75[25]
  • Mar 15, 2017 — 0.75–1.00[26]
  • Jun 14, 2017 — 1.00–1.25[27]
  • Dec 13, 2017 — 1.25–1.50[28]
  • Mar 21, 2018 — 1.50–1.75[29]
  • Jun 13, 2018 — 1.75–2.00[30]
  • Sep 26, 2018 — 2.00–2.25[9]
  • Dec 19, 2018 — 2.25–2.50[31]

Bill Gross of PIMCO suggested that in the prior 15 years ending in 2007, in each instance where the fed funds rate was higher than the nominal GDP growth rate, assets such as stocks and housing fell.[32]

International effects

A low federal funds rate makes investments in developing countries such as China or Mexico more attractive. A high federal funds rate makes investments outside the United States less attractive. The long period of a very low federal funds rate from 2009 forward resulted in an increase in investment in developing countries. As the United States began to return to a higher rate in 2013 investments in the United States became more attractive and the rate of investment in developing countries began to fall. The rate also affects the value of currency, a higher rate increasing the value of the U.S. dollar and decreasing the value of currencies such as the Mexican peso.[33]

See also

References

  1. ^ “Fedpoints: Federal Funds”Federal Reserve Bank of New York. August 2007. Retrieved October 2, 2011.
  2. ^ “The Implementation of Monetary Policy”. The Federal Reserve System: Purposes & Functions(PDF). Washington, D.C.: Federal Reserve Board. August 24, 2011. p. 4. Retrieved October 2, 2011.
  3. ^ “Monetary Policy, Open Market Operations”. Federal Reserve Bank. January 30, 2008. Archived from the original on April 13, 2001. Retrieved January 30, 2008.
  4. ^ “Reserve Requirements”. Board of Governors of The Federal Reserve System. December 16, 2015.
  5. ^ Stefan Homburg (2017) A Study in Monetary Macroeconomics, Oxford University Press, ISBN978-0-19-880753-7.
  6. ^ “Fed funds rate”. Bankrate, Inc. March 2016.
  7. ^ Cheryl L. Edwards (November 1997). Gerard Sinzdak. “Open Market Operations in the 1990s”(PDF)Federal Reserve Bulletin (PDF).
  8. ^ “BBA LIBOR – Frequently asked questions”. British Bankers’ Association. March 21, 2006. Archived from the original on February 16, 2007.
  9. Jump up to:ab “Federal Reserve issues FOMC statement” (Press release). Board of Governors of the Federal Reserve System. December 19, 2018. Retrieved June 2, 2019.
  10. ^ Tankersley, Jim (March 21, 2018). “Fed Raises Interest Rates for Sixth Time Since Financial Crisis”The New York Times. Retrieved March 22, 2018.
  11. ^ “4:56 p.m. US-Closing Stocks”. Associated Press. December 16, 2008. Archived from the original on July 18, 2012.
  12. ^ David Waring (February 19, 2008). “An Explanation of How The Fed Moves Interest Rates”. InformedTrades.com. Archived from the original on May 5, 2015. Retrieved July 20, 2009.
  13. ^ “Historical Changes of the Target Federal Funds and Discount Rates, 1971 to present”. New York Federal Reserve Branch. February 19, 2010. Archived from the original on December 21, 2008.
  14. ^ “$SPX 1990-06-12 1992-10-04 (rate drop chart)”. StockCharts.com.
  15. ^ “$SPX 1992-08-04 1995-03-01 (rate rise chart)”. StockCharts.com.
  16. ^ “$SPX 1995-01-01 1997-01-01 (rate drop chart)”. StockCharts.com.
  17. ^ “$SPX 1996-12-01 1998-10-17 (rate drop chart)”. StockCharts.com.
  18. ^ “$SPX 1998-09-17 2000-06-16 (rate rise chart)”. StockCharts.com.
  19. ^ “$SPX 2000-04-16 2002-01-01 (rate drop chart)”. StockCharts.com.
  20. ^ “$SPX 2002-01-01 2003-07-25 (rate drop chart)”. StockCharts.com.
  21. ^ “$SPX 2003-06-25 2006-06-29 (rate rise chart)”. StockCharts.com.
  22. ^ “$SPX 2006-06-29 2008-06-01 (rate drop chart)”. StockCharts.com.
  23. ^ “Press Release”. Board of Governors of The Federal Reserve System. December 16, 2008.
  24. ^ “Open Market Operations”. Board of Governors of The Federal Reserve System. December 16, 2015.
  25. ^ “Decisions Regarding Monetary Policy Implementation”. Board of Governors of The Federal Reserve System. Archived from the original on December 15, 2016.
  26. ^ Cox, Jeff (March 15, 2017). “Fed raises rates at March meeting”CNBC. Retrieved March 15, 2017.
  27. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. June 14, 2017.
  28. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. December 13, 2017.
  29. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. March 21, 2018.
  30. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. June 13, 2018.
  31. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. December 19, 2018.
  32. ^ Shaw, Richard (January 7, 2007). “The Bond Yield Curve as an Economic Crystal Ball”. Retrieved April 3, 2011.
  33. ^ Peter S. Goodman, Keith Bradsher and Neil Gough (March 16, 2017). “The Fed Acts. Workers in Mexico and Merchants in Malaysia Suffer”The New York Times. Retrieved March 18,2017Rising interest rates in the United States are driving money out of many developing countries, straining governments and pinching consumers around the globe.

External links

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

The Impact of an Inverted Yield Curve

The term yield curve refers to the relationship between the short- and long-term interest rates of fixed-income securities issued by the U.S. Treasury. An inverted yield curve occurs when short-term interest rates exceed long-term rates.

From an economic perspective, an inverted yield curve is a noteworthy event. Below, we explain this rare phenomenon, discuss its impact on consumers and investors, and tell you how to adjust your portfolio to account for it.

Interest Rates and Yield Curves

Typically, short-term interest rates are lower than long-term rates, so the yield curve slopes upwards, reflecting higher yields for longer-term investments. This is referred to as a normal yield curve. When the spread between short-term and long-term interest rates narrows, the yield curve begins to flatten. A flat yield curve is often seen during the transition from a normal yield curve to an inverted one.

Normal Yield Curve

Figure 1 – A normal yield curve

What Does an Inverted Yield Curve Suggest?

Historically, an inverted yield curve has been viewed as an indicator of a pending economic recession. When short-term interest rates exceed long-term rates, market sentiment suggests that the long-term outlook is poor and that the yields offered by long-term fixed income will continue to fall.

More recently, this viewpoint has been called into question, as foreign purchases of securities issued by the U.S. Treasury have created a high and sustained level of demand for products backed by U.S. government debt. When investors are aggressively seeking debt instruments, the debtor can offer lower interest rates. When this occurs, many argue that it is the laws of supply and demand, rather than impending economic doom and gloom, that enable lenders to attract buyers without having to pay higher interest rates.

Inverted Yield Curve

Figure 2 – An inverted yield curve: note the inverse relationship between yield and maturity

Inverted yield curves have been relatively rare, due in large part to longer-than-average periods between recessions since the early 1990s. For example, the economic expansions that began in March 1991, November 2001 and June 2009 were three of the four longest economic expansions since World War II. During these long periods, the question often arises as to whether an inverted yield curve can happen again.

Economic cycles, regardless of their length, have historically transitioned from growth to recession and back again. Inverted yield curves are an essential element of these cycles, preceding every recession since 1956. Considering the consistency of this pattern, an inverted yield will likely form again if the current expansion fades to recession.

Upward sloping yield curves are a natural extension of the higher risks associated with long maturities. In a growing economy, investors also demand higher yields at the long end of the curve to compensate for the opportunity cost of investing in bonds versus other asset classes, and to maintain an acceptable spread over inflation rates.

As the economic cycle begins to slow, perhaps due to interest rate hikes by the Federal Reserve Bank, the upward slope of the yield curve tends to flatten as short-term rates increase and longer yields stay stable or decline slightly. In this environment, investors see long-term yields as an acceptable substitute for the potential of lower returns in equities and other asset classes, which tend to increase bond prices and reduce yields.

Inverted Yield Curve Impact on Consumers

In addition to its impact on investors, an inverted yield curve also has an impact on consumers. For example, homebuyers financing their properties with adjustable-rate mortgages (ARMs) have interest-rate schedules that are periodically updated based on short-term interest rates. When short-term rates are higher than long-term rates, payments on ARMs tend to rise. When this occurs, fixed-rate loans may be more attractive than adjustable-rate loans.

Lines of credit are affected in a similar manner. In both cases, consumers must dedicate a larger portion of their incomes toward servicing existing debt. This reduces expendable income and has a negative effect on the economy as a whole.

The Formation of an Inverted Yield Curve

As concerns of an impending recession increase, investors tend to buy long Treasury bonds based on the premise that they offer a safe harbor from falling equities markets, provide preservation of capital and have potential for appreciation in value as interest rates decline. As a result of the rotation to long maturities, yields can fall below short-term rates, forming an inverted yield curve. Since 1956, equities have peaked six times after the start of an inversion, and the economy has fallen into recession within seven to 24 months.

As of 2017, the most recent inverted yield curve first appeared in August 2006, as the Fed raised short-term interest rates in response to overheating equity, real estate and mortgage markets. The inversion of the yield curve preceded the peak of the Standard & Poor’s 500 in October 2007 by 14 months and the official start of the recession in December 2007 by 16 months. However, a growing number of 2018 economic outlooks from investment firms are suggesting that an inverted yield curve could be on the horizon, citing the narrowing spread between short- and long-dated Treasuries.

If history is any precedent, the current business cycle will progress, and slowing in the economy may eventually become evident. If concerns of the next recession rise to the point where investors see the purchase of long-dated Treasuries as the best option for their portfolios, there is a high likelihood that the next inverted yield curve will take shape.

Inverted Yield Curve Impact on Fixed-Income Investors

A yield curve inversion has the greatest impact on fixed-income investors. In normal circumstances, long-term investments have higher yields; because investors are risking their money for longer periods of time, they are rewarded with higher payouts. An inverted curve eliminates the risk premium for long-term investments, allowing investors to get better returns with short-term investments.

When the spread between U.S. Treasuries (a risk-free investment) and higher-risk corporate alternatives is at historical lows, it is often an easy decision to invest in lower-risk vehicles. In such cases, purchasing a Treasury-backed security provides a yield similar to the yield on junk bondscorporate bondsreal estate investment trusts (REITs) and other debt instruments, but without the risk inherent in these vehicles. Money market funds and certificates of deposit (CDs) may also be attractive – particularly when a one-year CD is paying yields comparable to those on a 10-year Treasury bond.

Inverted Yield Curve Impact on Equity Investors

When the yield curve becomes inverted, profit margins fall for companies that borrow cash at short-term rates and lend at long-term rates, such as community banks. Likewise, hedge funds are often forced to take on increased risk in order to achieve their desired level of returns.

In fact, a bad bet on Russian interest rates is largely credited for the demise of Long-Term Capital Management, a well-known hedge fund run by bond trader John Meriwether.

Despite their consequences for some parties, yield-curve inversions tend to have less impact on consumer staples and healthcare companies, which are not interest-rate dependent. This relationship becomes clear when an inverted yield curve precedes a recession. When this occurs, investors tend to turn to defensive stocks, such as those in the food, oil and tobacco industries, which are often less affected by downturns in the economy.

The Bottom Line

While experts question whether or not an inverted yield curve remains a strong indicator of pending economic recession, keep in mind that history is littered with portfolios that were devastated when investors blindly followed predictions about how “it’s different this time.” Most recently, shortsighted equity investors spouting this mantra participated in the “tech wreck,” snapping up shares in tech companies at inflated prices even though these firms had no hope of ever making a profit.

If you want to be a smart investor, ignore the noise. Instead of spending time and effort trying to figure out what the future will bring, construct your portfolio based on long-term thinking and long-term convictions – not short-term market movements.

For your short-term income needs, do the obvious: choose the investment with the highest yield, but keep in mind that inversions are an anomaly and they don’t last forever. When the inversion ends, adjust your portfolio accordingly.

Story 3: Creepy, Sleepy, Dopey, Joey Biden in Praise of Civility of Democrat Segregationist Senators Eastland (Mississippi) and Talmadge (Georgia) Who Got Things Done — Radical Extremist Democrats (REDS) Attack Biden — Lying Lunatic Leftist Losers and Big Lie Media Playing Identity Politics and Divide and Conquer — Videos —

Biden’s ties to segregationist senator spark campaign tension

Biden’s ties to segregationist senator spark campaign tension

SUSAN WALSH / AP

Joe Biden was a freshman senator, the youngest member of the august body, when he reached out to an older colleague for help on one of his early legislative proposals: The courts were ordering racially segregated school districts to bus children to create more integrated classrooms, a practice Biden opposed and wanted to change.

“I want you to know that I very much appreciate your help during this week’s Committee meeting in attemptingto bring my antibusing legislation to a vote,” Biden wrote on June 30, 1977.

The recipient of Biden’s entreaty was Sen. James Eastland, at the time a well-known segregationist who had called blacks “an inferior race” and once vowed to prevent blacks and whites from eating together in Washington. The exchange, revealed in a series of letters, offers a new glimpse into an old relationship that erupted this week as a major controversy for Biden’s presidential campaign.Biden on Wednesday night described his relationship with Eastland as one he “had to put up with.” He said of his relationships with Eastland and another staunch segregationist and southern Democrat, Sen. Herman Talmadge of Georgia, that “the fact of the matter is that we were able to do it because we were able to win — we were able to beat them on everything they stood for.”

But the letters show a different type of relationship, one in which they were aligned on a legislative issue. Biden said at the time that he did not think that busing was the best way to integrate schools in Delaware and that systemic racism should be dealt with by investing in schools and improving housing policies.

The letters were provided Thursday to the Washington Post by the University of Mississippi, which houses Eastland’s archived papers. They were reported in April by CNN.

Biden’s campaign late Thursday issued a statement saying that “the insinuation that Joe Biden shared the same views as Eastland on segregation is a lie.”

“Plain and simple. Joe Biden has dedicated his career to fighting for civil rights,” the statement said.

The controversy over Biden’s comments this week have continued to reverberate at a crucial time in the campaign, with matters of race dominating the political discussion ahead of several prominent gatherings, including the first presidential debate next week and a multicandidate event before black voters in South Carolina on Friday. It has emerged as a complex political problem for Biden, who has been trying to campaign as a civil rights champion while explaining past views that are out of step with today’s Democratic base.

Biden’s Wednesday remarks sparked one of the sharpest intra-Democrat exchanges of the campaign, when Sen. Cory Booker of New Jersey, one of his black 2020 rivals, criticized both Biden’s work with segregationists and the language that he used in describing it.

On Wednesday, Biden called Booker. Biden’s campaign also distributed talking points to supporters, emphasizing that Eastland and Talmadge “were people who he fundamentally disagreed with on the issue of civil rights.”

Late Thursday, the former vice president met with a small group that included black members of Congress, one of the participants said.

Divisions also emerged in Biden’s campaign over how he should handle such situations. Aides alternately argued that he simply misspoke in telling the anecdote, that he shouldn’t be telling it at all or that his remarks demonstrate his ability to work with those with whom he disagrees and the words were being purposefully twisted for political gain.

The letters show that Biden’s courtship of Eastland started in 1972, before he had taken office, and that he wrote to the older senator listing his top six committee assignment requests, with Foreign Relations and Judiciary at the top. A few weeks later, Biden thanked Eastland, writing that he was “flattered and grateful” for his help. He also referred to the December 1972 car crash that killed his wife and daughter and injured his two sons.

“Despite my preoccupation with family matters at this time, I intend to place the highest priority on attending to my committee responsibilities,” Biden wrote.

Biden supporters have repeatedly pointed to his efforts on civil rights issues to cast him as a champion of equality. Not only did he share an eight-year partnership with the first black president, he also worked alongside black leaders throughout his career on extending the Voting Rights Act, amending the Fair Housing Act and creating the holiday honoring the Rev. Martin Luther King Jr.et in the debate over the merits of busing as a solution to greater integration, Biden’s avowed stance against it put him at odds with some civil rights leaders.

 

 

It was in that context that he courted the support of Eastland — at the time the chairman of the Senate Judiciary Committee — as well as other senators.

In one letter, on March 2, 1977, Biden outlined legislation he was filing to restrict busing practices.

“My bill strikes at the heart of the injustice of court ordered busing,” he wrote to Eastland. “It prohibits the federal courts from disrupting our educational system in the name of the constitution where there is no evidence that the governmental officials intended to discriminate.”

“I believe there is growing sentiment in the Congress to curb unnecessary busing,” he added. The Senate two years earlier had passed a Biden amendment that prohibited the federal Department of Health, Education and Welfare from ordering busing to achieve school integration.

 

“That was the first time the U.S. Senate took a firm stand in opposition to busing,” Biden wrote. “The Supreme Court seems to have recognized that busing simply cannot be justified in cases where state and local officials intended no discrimination.”

In later letters to Eastland, Biden continued pushing his legislation.

“I want you to know that I very much appreciate your help during this week’s Committee meeting in attempting to bring my antibusing legislation to a vote,” Biden wrote on June 30, 1977.

The next year, he continued to push for antibusing legislation and again wrote to Eastland.

“Since your support was essential to having our bill reported out by the Judiciary Committee, I want to personally ask your continued support and alert you to our intentions,” Biden wrote on Aug 22, 1978. “Your participation in floor debate would be welcomed.”

After Biden’s remarks at the Wednesday night fund-raiser, advisers played down his comments about Eastland as a garbled rendition of a familiar Biden anecdote. In particular, they sought to excuse Biden for saying that Eastland didn’t refer to him as “boy” — an insult leveled at black men — but as “son.”

“He just misspoke,” said one Biden adviser. “The way Biden usually tells the story, he says Eastland didn’t call him ‘senator,’ he called him ‘son,’ ” the adviser said. “Eastland called him ‘boy’ and ‘son’ also. This was Eastland’s way of diminishing young senators.”

In the campaign statement Thursday, Biden’s national press secretary, Jamal Brown, said Biden’s “strong support for equal housing, equal education and equal job opportunities were clear to all Delawareans in the 1970s.”

Biden sought to ensure that black students received “the resources necessary to deliver the quality education they deserved,” he said.

Brown added that throughout his public life, Biden “fought the institutional problems that created de facto segregated school systems and neighborhoods in the first place: redlining, school lines drawn to keep races and classes separate and housing patterns and discrimination.”

Almost the entire Democratic field is set to attend a fish fry Friday night hosted by House Majority Whip James Clyburn, a leading black figure in the state and one who has remained supportive of Biden.

It would be the first public appearance Biden is making with the same Democratic presidential hopefuls who have heaped criticism on him for the comment.

In demanding an apology, Booker said Wednesday that Biden’s “relationships with proud segregationists are not the model for how we make America a safer and more inclusive place for black people, and for everyone.”

Asked about Booker’s remarks by reporters, Biden declined to offer an apology and instead demanded one from Booker. The two men later spoke privately.

“Cory shared directly what he said publicly — including helping Vice President Biden understand why the word ‘boy’ is painful to so many,” said Sabrina Singh, a Booker campaign spokeswoman. “Cory believes that Vice President Biden should take responsibility for what he said and apologize to those who were hurt.”

Biden’s campaign would not elaborate on the call, but it is clear the topic could linger over the coming days.

Biden has scheduled a sit-down interview with MSNBC, his campaign has been sending out talking points to surrogates, and some black supporters are eager to hear the former vice president offer a fuller explanation.

“I think he’s got to address it head on and show people what his line of thinking was,” said Antjuan Seawright, a Democratic strategist in South Carolina who is close with Biden’s team. “I don’t think they need to get off course with their strategy. I just think they have to address it as it comes up and move on.”

Other Biden supporters, however, think he’s taking just the right approach and standing by his long-held beliefs.

I encouraged campaign staff that I know to say: ‘Don’t back off on this. This is precisely why you’re the right guy in the right place at the right time.’ And I was glad to see that he didn’t,” said Dave O’Brien, a longtime Biden supporter in Cedar Rapids, Iowa.

“You know that some of the other issues, he’s got to evolve with the times, which he has,” O’Brien added. “But there are points where you need to make a stand, so I was very glad to see him not back off on this issue.”

https://www.inquirer.com/politics/nation/joe-biden-james-eastland-segregation-democratic-primary-20190621.htmlPosted: June 20, 2019 – 10:59 PM

Biden not apologizing for remarks on segregationist senators

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Democratic presidential candidate, former Vice President Joe Biden, speaks at the Poor People’s Moral Action Congress presidential forum in Washington, Monday, June 17, 2019. (AP Photo/Susan Walsh)

Joe Biden refused calls to apologize Wednesday for saying that the Senate “got things done” with “civility” even when the body included segregationists with whom he disagreed.

His rivals for the Democratic presidential nomination, including the two major black candidates in the contest, roundly criticized Biden’s comments. But Biden didn’t back down and was particularly defiant in the face of criticism from New Jersey Sen. Cory Booker, who said the former vice president should apologize for his remarks.

Biden countered that it was Booker who should apologize because the senator “should know better” than to question his commitment to civil rights.

“There’s not a racist bone in my body,” Biden said. “I’ve been involved in civil rights my whole career.”

Speaking on CNN, Booker responded: “I was raised to speak truth to power and that I shall never apologize for doing that. And Vice President Biden shouldn’t need this lesson.”

The firestorm is quickly becoming one of the most intense disputes of the Democratic presidential primary, underscoring the hazards for Biden as he tries to turn his decades of Washington experience into an advantage. Instead, he’s infuriating Democrats who say he’s out of step with the diverse party of the 21st century and potentially undermining his argument that he’s the most electable candidate in the race.

The controversy began at a New York fundraiser Tuesday when Biden pointed to long-dead segregationist senators James Eastland of Mississippi and Herman Talmadge of Georgia to argue that Washington functioned more smoothly a generation ago than under today’s “broken” hyperpartisanship.

“We didn’t agree on much of anything,” Biden said of the two men, who were prominent senators when Biden was elected in 1972. Biden described Talmadge as “one of the meanest guys I ever knew” and said Eastland called him “son,” though not “boy,” a reference to the racist way many whites addressed black men at the time.

Yet even in that Senate, Biden said, “At least there was some civility. We got things done.”

A pile on from Biden’s rivals quickly ensued. Booker said he was disappointed by Biden’s remarks.

“I have to tell Vice President Biden, as someone I respect, that he is wrong for using his relationships with Eastland and Talmadge as examples of how to bring our country together,” said Booker, who is African American.

New York City Mayor Bill de Blasio, a fellow Democratic presidential candidate and a white man who is married to a black woman, tweeted: “It’s 2019 & @JoeBiden is longing for the good old days of ‘civility’ typified by James Eastland. Eastland thought my multiracial family should be illegal.”

California Sen. Kamala Harris, a black presidential candidate, said Biden was “coddling” segregationists in a way that “suggests to me that he doesn’t understand … the dark history of our country” — a characterization Biden’s campaign rejects.

Former Texas Rep. Beto O’Rourke, another 2020 candidate, said, “For the vice president to somehow say that what we’re seeing in this country today is a function of partisanship or a lack of bipartisanship completely ignores the legacy of slavery and the active suppression of African Americans and communities of color right now.”

The tumult comes at a crucial point in the campaign. Biden is still recovering from controversy he sparked earlier this month when he angered many Democrats by saying he didn’t support federal taxpayer money supporting abortion. He later reversed his position.

He’s among the more than 20 candidates who will descend on South Carolina this weekend to make their case to black voters at a series of Democratic events.

Meanwhile, most Democratic White House hopefuls will again gather in Miami next week for the first presidential debate of the primary season. Biden will almost certainly come under fire there for his comments this week.

He sought to defuse the tension on Wednesday by saying he was trying to argue that leaders sometimes have to work with people they disagree with to achieve goals, such as renewing the Voting Rights Act.

“The point I’m making is you don’t have to agree. You don’t have to like the people in terms of their views,” he said Wednesday. “But you just simply make the case and you beat them without changing the system.”

He has received support from some black leaders. Cedric Richmond, Biden’s campaign co-chairman and former Congressional Black Caucus chairman, said Biden’s opponents deliberately ignored the full context of his argument for a more functional government.

“Maybe there’s a better way to say it, but we have to work with people, and that’s a fact,” Richmond said, noting he dealt recently with President Donald Trump to pass a long-sought criminal justice overhaul. “I question (Trump’s) racial sensitivity, a whole bunch of things about his character … but we worked together.”

Likewise, Richmond said, Biden mentioned Jim Crow-era senators to emphasize the depths of disagreements elected officials sometimes navigate. “If he gets elected president, we don’t have 60 votes in the Senate” to overcome filibusters, Richmond noted. “He could be less genuine and say, ‘We’re just going to do all these things.’ But we already have a president like that. (Biden) knows we have to build consensus.”

Biden also drew a qualified defense from Republican Sen. Tim Scott of South Carolina, the only black senator from his party. Scott said that Biden “should have used a different group of senators” to make his point but that his remarks “have nothing to do with his position on race” issues. Scott said the reaction reflects an intense environment for Democrats in which the desire to defeat Trump means “anything the front-runner says that is off by a little bit” will be magnified.

https://apnews.com/5b57473cfcda44e4b35c8a40759a26fc

The gloves come off in the Democratic primary

This was the week that the battle for the nomination got real.

The tenor of the Democratic presidential primary has verged on courteous from the start: To the extent that Democrats went after Joe Biden, it was usually not by name. And Bernie Sanders and Elizabeth Warren kept their rivalry decidedly civil.

This week, with the first debates of the election season days away, the gentility came to an end.

Biden’s remarks at a New York fundraiser that “at least there was some civility” when he worked with segregationists in the Senate unleashed a torrent of criticism from his rivals and the left. And a story in POLITICO about centrists coming around to Warren as an “anybody but Bernie” alternative set off Sanders and his allies.

“We knew the primary wouldn’t be all puppies and rainbows forever,” said Ben LaBolt, a former adviser to Barack Obama. “And as the debates approach you can see a new dynamic emerging.”

The reaction from Biden’s rivals to his comments was fierce.

New York Mayor Bill de Blasio, whose wife is African American, noted that one of the segregationists Biden invoked, James Eastland of Mississippi, would have outlawed his marriage. Sen. Cory Booker, who is black, took offense that Biden seemed to make light of Eastland calling him “son” but not “boy.”

“You don’t joke about calling black men ‘boys’,” Booker said.

Booker called on Biden to apologize but Biden took a different path. Outside a fundraiser Wednesday night, a defiant Biden said he had nothing to be sorry for and that it’s Booker who should apologize for questioning someone without “a racist bone in my body.”

“He knows better,” Biden said.

The crossfire marked some of the most direct and intense exchanges so far of the 2020 primary campaign. And it signals that with less than a week until the first televised debate, the field is done tiptoeing around.

“Running for president is no tea party. It’s a battle. And it is customary for candidates to begin to engage at this stage. The polite preliminaries are over,” said Democratic strategist and former Obama hand David Axelrod. “And since there is generally broad agreement on issues, if not solutions, the disputes necessarily turn on other things.”

In a separate episode, Sanders dispatched a tweet that was viewed as a sideswipe of Warren.

“The cat is out of the bag. The corporate wing of the Democratic Party is publicly ‘anybody but Bernie,’” Sanders wrote on Twitter, sharing a POLITICO storyheadlined: “Warren emerges as potential compromise nominee.”

Sanders faced his own backlash over the remark.

“If we had a multi-party parliament, it’d be pretty normal for Sanders and Warren to campaign against each other for leadership in a Social Democratic Party. That said, I still find this move pretty dissapointing [sic] and unnecessary. Draw contrasts if you want, but not like this,” tweeted Waleed Shadid, communications director of the progressive group Justice Democrats.

Shadid later noted that Sanders on CNN said his remark was targeted at the moderate think tank Third Way, and not Warren.

Still, the escalating tensions come as Warren is gaining on Sanders in polls. She leapfrogged him in recent surveys in Nevada and California. And a Monmouth University poll released Wednesday showed Warren and Sanders virtually tied for second, with Warren, at 15 percent, gaining five points in one month. Biden still led the field at 32 percent.

“Biden’s numbers have held up higher than expected and a number of challengers are going after his gaffes more aggressively than before,” LaBolt said. “Warren has begun eating into Bernie’s numbers and he is trying to fend her off.”

Still, one Democratic veteran of the 2016 campaign, ex-Sanders adviser Mark Longabaugh, said the current tangles are nothing like what he experienced in that campaign. There’s plenty of time for it to get there, but it hasn’t happened yet.

“I don’t know if the gloves are off. I think the gloves may be getting a little loose — pulling out the fingertips to take the gloves off.” Longabaugh said. “Having been through the 2015-16 experience, I gotta tell ya, that was much more combative than anything you’ve seen in this race — not anything close.”

Not far from anyone’s mind are the first debates in Miami on Wednesday and Thursday next week.

“While this type of engagement is expected,” LaBolt said, “candidates should be careful not to cross any lines that could significantly damage potential nominees for the general.”

https://www.politico.com/story/2019/06/20/2020-election-democratic-primary-1373202

 

 

Part 2– Story 4: President Trump Pushes All The Right Buttons in 2020 Stump Speech in Orlando, Florida –Send Them Home — Lock Them Up — Four More Years — Videos

TRUMP 2020: President Trump Re-Election Campaign Rally – FULL SPEECH

What To Take Away From President Trump’s Re-Election Rally In Florida

FOX and Friends *6/19/19 | URGENT!TRUMP BREAKING News June 19, 2019

Orlando Fl Trump Rally CROWD FOOTAGE June 18th 2019

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President Trump’s 2020 campaign kicks off with a rally in Orlando, Florida

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WATCH: Vice President Mike Pence Speaks at President Trump’s Reelection Rally

WATCH: Donald Trump Jr. Delivers EXPLOSIVE Speech at Reelection Rally

LIVE 🔴 President Trump Rally in Orlando, Florida – June 18, 2019 – TRUMP 2020 RE-ELECTION RALLY

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FULL RALLY: President Trump Holds MASSIVE Rally in Orlando, FL

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The Ingraham Angle 6/18/19 | Laura Ingraham Fox News June 18, 2019

Sean Hannity 6/18/19 | Fox News Today June 18 2019

Tucker Carlson Tonight 6/18/19 | Fox News Today June 18 2019

With Florida rally, Trump aims for a 2020 campaign ‘reset’

Trump to launch 2020 re-election bid in Florida

Orlando preps for huge crowds for Trump rally

Crowds grow for Trump rally in Orlando

People are lining up for President Trump’s event on Tuesday

THE PRESIDENT IS BACK: President Trump Returns From MASSIVE Orlando Rally

The Memo: Can Trump run as an outsider?

President Trump is running for reelection as an outsider candidate. But it’s a knotty challenge for someone who holds the world’s most powerful office.

Trump’s speech in Orlando, Fla., on Tuesday, which officially launched his 2020 bid, was rife with rhetoric portraying himself — and by extension his supporters — as victims of nefarious elites.

The president said that he and his allies were besieged by a “permanent political class” and “an unholy alliance of lobbyists and donors and special interests.”

“Our patriotic movement has been under assault from the very first day,” Trump insisted at one point. Moments before, he told the crowd, “the swamp is fighting back so viciously and violently.”

It’s the kind of language that makes Democrats roll their eyes. Trump, they note, is a billionaire property developer, born into wealth, who won the presidency on his first attempt — yet he portrays himself as the tribune of “the forgotten men and women of our country” whom he invoked in his January 2017 inaugural address.

But Trump’s unconventionality might, in itself, help him retain some kind of outsider cachet in a way that is unusual for an incumbent president.

“For any other president, yes, it is a challenge,” said Alex Conant, a Republican strategist who worked for Sen. Marco Rubio (R-Fla.) in the 2016 presidential primaries.

“But Trump is unlike any other president. Trump has been at war with the establishment since the moment he set foot in the White House,” he said.

It is certainly true that Trump was viewed with suspicion by the Republican Party from the time he began his presidential run — and that his language and attitudes are viewed with distaste by much of the Beltway political class.

But dislike for Trump’s personal antics is hardly confined to D.C. elites.

A Pew Research Center poll in March showed pluralities of the public believing that he was not “trustworthy,” “even-tempered” or “well-informed.”

For all Trump’s supposed concern with less affluent Americans, 56 percent of the respondents in the Pew poll said they did not believe he cared about “people like me,” whereas just 40 percent said he did care.

The GOP has largely made peace with him, with former rivals including Sens. Lindsey Graham (S.C.) and Rand Paul (Ky.) becoming enthusiastic supporters, congressional dissenters such as former Rep. Mark Sanford(R-S.C.) having been defeated in primaries and Trump now in firm control of the party apparatus.

Skeptics also point to both policies and personnel — from the steep cut in the corporate tax rate in 2017 to the 16-month run of the ethically challenged Scott Pruitt as head of the Environmental Protection Agency — as evidence that the swamp has remained undrained under Trump.

But Trump allies are insistent that the president’s feel for the cultural mores of blue-collar America remains a potent and underrated political weapon.

“He is certainly an outsider to the political establishment. They still don’t get him and he is not coming around to their way of thinking,” said Barry Bennett, who worked as a senior adviser to Trump’s 2016 campaign. “He may live inside the gates but he does not live inside the establishment. … I don’t know anyone who believes he has become some kind of Georgetown socialite.”

Michael Caputo, a longtime Trump friend, insisted, “I have never ever met anyone, any Trump supporter, who believes anything else besides the fact that he’s an outsider.”

There is clearly a political dividend to be gained if Trump can hold onto his outsider image.

In the recent past, voters in presidential elections have often chosen the candidate seen as less steeped in the ways of Washington.

Former President Obama won election twice as a change agent, initially winning the White House as the first black president and then securing a second term over GOP nominee Mitt Romney, the personification of a genteel Republican establishment.

Former President George W. Bush had only a tenuous claim to outsider status, given he was the son of a president — yet his campaign was able to paint then-Sen. John Kerry (D-Mass.) as a creature of Washington in the 2004 presidential election.

Before that, former President Clinton used his down-home Arkansas image as a weapon against an incumbent president, Bush’s father, George H.W Bush, and then won a second term over another GOP establishment favorite, then-Sen. Bob Dole (Kan.).

Independent observers acknowledge that Trump’s style, divisive though it is, could help him be seen as much more of a disruptor even than these recent predecessors.

“It’s almost impossible for an incumbent to run as an outsider, but Trump has held onto that credential,” said Tobe Berkovitz, a Boston University professor who specializes in political communications. “He is parlaying that into how he sees himself — running against the Democrats, the media, the elites.”

Republicans, meanwhile, argue that Trump’s outsider image could be especially useful if Democrats pick former Vice President Joe Biden as their nominee.

Biden, in their telling, is much easier to brand as a creature of Washington given his decades in the Senate. There will be a different challenge if Democrats instead choose one of Biden’s rivals who is a fresher face on the national political scene, such as Sen. Elizabeth Warren (D-Mass.) or Sen Kamala Harris (D-Calif.); or more radical, such as Sen. Bernie Sanders(I-Vt.).

Trump, billionaire Manhattanite though he may be, has long used the idea that he is sneered at by a snobbish elite to his own advantage.

On Tuesday, he told his supporters that Democrats “want to destroy you.”

It was a stark and visceral remark even by Trump’s standards.

But, after his 2016 victory, even his critics can’t be so sure it won’t work.

https://thehill.com/homenews/the-memo/449436-the-memo-can-trump-run-as-an-outsider

A Second Term for What?

Trump can’t win by relitigating 2016 and playing only to his base.

President Donald Trump looks on during a rally at the Amway Center in Orlando, Florida to officially launch his 2020 campaign on June 18.PHOTO: MANDEL NGAN/AGENCE FRANCE-PRESSE/GETTY IMAGES

President Trump announced his campaign for a second term at a rally in Orlando on Tuesday evening that recounted his first-term record and 2016 victory before thousands of rapturous supporters. The only thing missing was an agenda for 2020.

The most striking fact of his speech was how backward looking it was. Every incumbent needs to remind voters of his record, Mr. Trump more than most because the media are so hostile.

Donald Trump Launches Campaign

The President is also right that his opponents have refused to recognize the legitimacy of his election. House Democrats may still try to impeach him for not obstructing an investigation into what wasn’t a conspiracy with Russia. His sense of “grievance,” to quote the media meme about his speech, on that point is entirely justified.

Yet Mr. Trump is asking for four more years, and his preoccupation with vindicating 2016 won’t resonate much beyond his core supporters. Most voters have moved on from 2016, which is why a majority opposes impeachment in every poll. They don’t much care about Mr. Trump’s greatest hits about Hillary Clinton, who alas for the President will not be on the ballot in 2020. They want to know why they should take a risk on Mr. Trump and his volatile character for another term.

This is all the more important given the way his first term has evolved on policy. One paradox is that his main policy successes have come from pursuing a conventional conservative agenda. The failures have been on the issues like trade and immigration that are the most identified with Trumpian disruption.

The economy’s renewed growth spurt came from tax reform, deregulation, liberating energy production and ending the anti-business harassment of the Obama years. His remaking of the judiciary and rebuilding of the military unite Republicans of all stripes. Criminal justice reform was the result of years of spade work on the right and left.

Mr. Trump deserves credit for pursuing all of this despite often ferocious opposition that might have intimidated a different GOP President. That’s true in particular of his withdrawal from the Iran nuclear deal and the Paris climate accord, where U.S. Democratic and media opinion is aligned with Europe’s elites.

On immigration, however, the President missed a chance to strike a deal trading more border security (including his wall) for legalizing Dreamers. He must now confront the asylum crisis at the border with no help from Democrats. On trade, Mr. Trump has disrupted global rules but has put nothing new and stable in their place. Asking voters to believe he’ll do better on these issues in a second term isn’t likely to turn many swing voters his way.

The other paradox of the Trump Presidency is his low approval rating despite a stronger economy. The polls show his approval rating on the economy is above 50% but his overall approval is 44.3% in the Real Clear Politics average. The difference is best explained by Mr. Trump’s polarizing behavior, which has alienated in particular college-educated voters and Republican women. In the latest Wall Street Journal-NBC poll, Mr. Trump is underwater with white college-educated women by a remarkable 20 percentage points.

Mr. Trump may figure he can persuade some of those skeptics by making the Democratic nominee even more unpopular than he is. If the Democrats oblige by nominating Bernie Sanders or Elizabeth Warren, that might be possible. But that is making a bet on the other party’s mistake, and a re-election campaign is typically a referendum on the incumbent.

Which is all the more reason to offer voters something more for a second term. He could put Democrats on the spot for high housing prices and homelessness by talking about restrictive zoning for elites and high property taxes. He could offer to reform higher education by making schools responsible for some of the debt of students who can’t repay loans, or invigorate vocational education to help young people who can’t go to college.

He could package health-care proposals to expand choice, reduce prices and make insurance portable; his administration has already proposed some of them. He could advance his theme of “draining the swamp” by offering ideas to reform the civil service. We’d include entitlement reform, but then Mr. Trump has shown no interest and we don’t believe in political miracles.

This is far from an exhaustive list, and Mr. Trump won’t win as a policy wonk in any case. But Mr. Trump also won’t win by relitigating the 2016 election or playing only to his political base. He needs more than he offered voters on Tuesday night.

Opinion: Countering Trump With Reliability, Not Bold Agenda

Opinion: Countering Trump With Reliability, Not Bold Agenda
A Fox News poll has found that Democrats prefer a “steady” candidate to a “big agenda” candidate. But going up against the scale of Donald Trump will be tough, so how do frontrunners Joe Biden, Bernie Sanders and Elizabeth Warren compare? Image: Getty

‘This election is about you. Your family, your future & the fate of YOUR country’: Trump lays it on the line at 20,000-strong Orlando rally as he kicks off 2020 re-election campaign with his entire family and obligatory digs at ‘Crooked Hillary’

  • The president spent the first half-hour of a Tuesday night rally hammering his old foe Hillary Clinton 
  • Trump said his team wondered if it should hold the rally in a venue which can hold 20,000 people
  • ‘Not only did we fill it up, but we had 120,000 requests… Congratulations!’ the president said to cheers
  • The president’s daughter-in-law, Lara Trump, invited the criticism when she wound up an arena of supporters
  • Husband Eric, who spoke after her, had a crowd of more than 20,000 screaming, ‘CNN Sucks!’ 
  • ‘He loves this country and we, as a family, love this country. We’re going to fight like hell,’ Eric said 
  •  Donald Trump Jr. mocked Joe Biden before the rowdy crowd that waited in the heat and rain for hours
  • ‘He gets up on the stump. It’s so stupid,’ he said, claiming the ex-VP has four-person crowds 

President Trump spent a Tuesday night rally he’d advertised as a 2020 kickoff hammering his old foe Hillary Clinton for acid washing her emails and failing to deliver on her pledge to beat him, while Democrats vying for the party’s nomination now escaped his wrath.

Noting that he’s under constant media scrutiny, Trump said that he’d be sent to the slammer if he ordered aides to destroy potential evidence.

‘But, can you imagine if I got a subpoena, think of this, if I got a subpoena for emails, if I deleted one email like a love note to Melania, it’s the electric chair for Trump,’ he claimed in a campaign speech in Orlando.

Trump said subpoenas he’s receiving are not about Democratic claims that his campaign may have colluded with Russia.

‘The Democrats don’t care about Russia, they only care about their own political power. They went after my family, my business, my finances, my employees, almost everyone that I’ve ever known or worked with,’ he argued. ‘But they are really going after you. That’s what it’s all about. It’s not about us, it’s about you. They tried to erase your vote, erase your legacy of the greatest campaign and the greatest election probably in the history of our country.’

U.S. President Donald Trump and first lady Melania Trump arrive on stage to formally kick off his re-election bid with a campaign rally in Orlando. He kicked off first official 2020 rally by claiming 120,000 people submitted requests to attend

U.S. President Donald Trump and first lady Melania Trump arrive on stage to formally kick off his re-election bid with a campaign rally in Orlando. He kicked off first official 2020 rally by claiming 120,000 people submitted requests to attend
First lady Melania Trump speaks as Trump looks on. Trump's first official campaign rally of 2020 opened much the way his 2016 candidacy ended - with his audience chanting 'Lock her Up!' in a slam on former Democratic opponent Hillary Clinton

First lady Melania Trump speaks as Trump looks on. Trump’s first official campaign rally of 2020 opened much the way his 2016 candidacy ended – with his audience chanting ‘Lock her Up!’ in a slam on former Democratic opponent Hillary Clinton

Trump's campaign turned the area outside the arena that can seat 20,000 people into a festival-like atmosphere with music and food trucks to help supporters pass the time

Trump’s campaign turned the area outside the arena that can seat 20,000 people into a festival-like atmosphere with music and food trucks to help supporters pass the time

Michael Boulos, Tiffany Trump, Lara Trump, Eric Trump, Jared Kushner, Ivanka Trump, Kimberly Guilfoyle, and Donald Trump Jr. arrive at a rally for US President Donald Trump

FLOTUS Melania introduces her husband at Trump 2020 rally

The president said, ‘They wanted to deny you the future you demanded and the future that America deserved and that now America is getting. Our radical Democrat opponents are driven by hatred, prejudice and rage. They want to destroy you, and they want to destroy our country as we know it. Not acceptable, it’s not going to happen. Not gonna happen.’

Trump claimed that Democrats as a party would use the ‘power of the law to punish their opponents’ if they’re handed the reigns to the country.

‘Imagine if we had a Democrat president and a Democrat Congress in 2020. They would shut down your free speech, use the power of the law to punish their opponents – which they’re trying to do now anyway – they’ll always be trying to shield themselves,’ he claimed. ‘They will strip Americans of their Constitutional rights while flooding the country with illegal immigrants in the hopes it will expand their political base and they’ll get votes someplace down the future. That’s what it’s about.’

Broad attacks on the Democratic Party and ‘radical socialism’ were the most stringent assaults that Trump would levy all night.

He said, ‘More than 120 Democrats in Congress have also signed up to support “Crazy Bernie Sanders” socialist government takeover of health care.

‘He seems not to be doing too well lately,’ the president said as an aside. ‘They want to end Medicare as we know it and terminate the private health insurance of 180 million Americans who love their health insurance. America will never be a socialist country.’

It was his only mention at the rally of one of his most formidable opponents. Former Democratic President Joe Biden was also a footnote in the speech, earning two mentions, as a part of the ‘Obama-Biden’ duo that Trump said ruined American foreign policy and drove down the nation’s economy.

‘Remember the statement from the previous administration? Would need a magic wand to bring back manufacturing? Well, tell “Sleepy Joe” that we found the magic wand. That’s a sleepy guy,’ the president added.

Trump outlined his vision tweeting: ‘Don’t ever forget – this election is about YOU. It is about YOUR family, YOUR future, & the fate of YOUR COUNTRY. We begin our campaign with the best record, the best results, the best agenda, & the only positive VISION for our Country’s future! #Trump2020’

The Trumps said their family has been under attack since the family patriarch declared his candidacy for president in 2015. Jared Kushner, left, Ivanka Trump arrive for the official launch of the Trump 2020 campaign

The Trumps said their family has been under attack since the family patriarch declared his candidacy for president in 2015. Jared Kushner, left, Ivanka Trump arrive for the official launch of the Trump 2020 campaign

Donald Trump Jr. channeled his attacks to his father’s current opponents, mocking leading Democratic candidate Joe Biden before the rowdy crowd that waited in the heat and rain for hours, and days in some cases, to see the sitting president. Kimberly Guilfoyle, left, and Donald Trump Jr. pictured

Donald Trump Jr. channeled his attacks to his father’s current opponents, mocking leading Democratic candidate Joe Biden before the rowdy crowd that waited in the heat and rain for hours, and days in some cases, to see the sitting president. Kimberly Guilfoyle, left, and Donald Trump Jr. pictured

Senior adviser Jared Kushner, Ivanka Trump and Kimberly Guilfoyle, watch as President Donald Trump speaks at his re-election kickoff rally at the Amway Center

Senior adviser Jared Kushner, Ivanka Trump and Kimberly Guilfoyle, watch as President Donald Trump speaks at his re-election kickoff rally at the Amway Center

Trump rails against Democrats, Mueller and ‘fake news’ at 2020 rally
Trump’s first official campaign rally of 2020 opened much the way his 2016 candidacy ended – with his audience chanting ‘Lock her Up!’ in a slam on former Democratic opponent Clinton.

The president’s daughter-in-law, Lara Trump, invited the criticism first. She wound up an arena of supporters with a claim that the media was saying Clinton was going to be the 45th President of the United States days before the election. ‘They have always been wrong,’ she declared.

Attacks on the media as ‘fake news’ and ‘dishonest’ from Lara and her husband Eric, who spoke after her, had a crowd of more than 20,000 screaming ‘CNN Sucks!’ minutes later.

The Trumps said their family has been under attack from one group or another since the family patriarch declared his candidacy for president in 2015.

‘He loves this country and we, as a family, love this country. And guys we are going to fight like hell – our family is going to fight like hell for this country. We will never ever stop fighting, and we will never ever, ever stop winning,’ the president’s son said. ‘And guys, we love you very much. We’re all going to be spending a lot of time in Florida. We’re going to be spending a lot of time in Florida. So we’re going to see you.’

Donald Trump Jr. channeled his attacks to his father’s current opponents, mocking Biden before the rowdy crowd that waited in the heat and rain for hours, and days in some cases, to see the sitting president.

‘I don’t know about you, but I look around this room and when Joe Biden’s putting about seven people in an audience, I’m saying, “I think they may be a little wrong with the polling.” But what they hell do I know?’ he said.

National polls show Biden beating Trump in a general election. A Quinnipiac University survey that came out Tuesday found that the former vice president would beat Trump by nine points, 50 – 41, the newly-released poll showed.

Vermont Sen. Bernie Sanders would win by a similar margin, 48 – 42, while other top Democrats would perform in the poll’s margin of error.

Trump campaign manager Brad Parscale told DailyMail.com inside the rally that Quinnipiac is ‘c**p’ in response to the latest poll showing bad news in a critical swing state for the controversial president.

Trump had already warned the public that this official launch of 2020 campaign would be 'wild,' after supporters camped out in tents for more than 30 hours to save their places at the front of a massive line that would ensure them floor seats

US First Lady Melania Trump greets US Vice President Mike Pence. Trump set the tone for the monster rally in a morning tweet that bashed the media and compared the scene outside the Amway Center to a rock tour

US First Lady Melania Trump greets US Vice President Mike Pence. Trump set the tone for the monster rally in a morning tweet that bashed the media and compared the scene outside the Amway Center to a rock tour

Lara Trump takes to the stage before her father-in-law United States President Donald Trump arrives on stage to announce his candidacy for a second presidential term at the Amway Center

Lara Trump takes to the stage before her father-in-law United States President Donald Trump arrives on stage to announce his candidacy for a second presidential term at the Amway Center

Donald Trump Jr. throws hats to supporters at the rally. He mocked Joe Biden before the rowdy crowd that waited for hours

Donald Trump Jr. throws hats to supporters at the rally. He mocked Joe Biden before the rowdy crowd that waited for hours

Trump attacks Democrats at his Orlando rally
Don Jr. brushed off the threat from Biden, 76, as he campaigned for his father, 73, on Tuesday in Orlando. He called Biden and his competitors a ‘clown show’ and gave the Democrat a new nickname. ‘Sloppy Joe,’ he called him, as he hit Biden for flip-flopping.

‘He gets up on the stump. It’s so stupid,’ he said. ‘To his group of about four people in the audience, “Government has failed you.” Usually, as he’s groping someone. It ain’t pretty, but there’s something off with that guy.’

The president’s son said he agrees that government is broken and it’s a problem. ‘The problem is Joe, you’ve been in government for almost 50 years. If government failed you, maybe you’re the problem Joe Biden,’ he said. ‘It’s not rocket science.’

Trump warned the public that the campaign rally would be ‘wild,’ and Don Jr. helped him deliver on the pledge.

He mocked Biden’s pledge to cure cancer, asking, ‘Why the hell didn’t you do that over the last 50 years, Joe?’

Don Jr. blamed the media for giving Biden a pass. ‘Why did not one of them say, “Well, Joe, how exactly are you going to do that?” And why didn’t you do that in the last eight years as vice president and the prior 40 years in government and the Senate?’

His father later claimed that he’d cure cancer in remarks that followed. ‘We will push onward with new medical frontiers. We will come up with the cures to many, many problems, to many, many diseases, including cancer and others and we’re getting closer all the time,’ he said.

Attacks on Clinton and media were a common theme throughout the night, with Trump pausing and waiting for his supporters to cheer, ‘CNN SUCKS!’ and ‘Lock her Up!’ as he talked about the former secretary of state’s acid-washed emails and her loss to him in the last election.

‘It was all an illegal attempt to overturn the results of our election, spy on our campaign, which is what they did,’ he complained.

Trump meets fans after stepping off Air Force One upon arrival at Miami International Airport in Miami

Trump meets fans after stepping off Air Force One upon arrival at Miami International Airport in Miami

Vice President Mike Pence, escorted in by Karen Pence, speaks before Trump takes the stage on Tuesday evening

A man holds up a sign as the crowd waits for US President Donald Trump to arrive at a rally at the Amway Center in Orlando, Florida to officially launch his 2020 campaign

A man holds up a sign as the crowd waits for US President Donald Trump to arrive at a rally at the Amway Center in Orlando, Florida to officially launch his 2020 campaign

Melania's spokesperson Stephanie Grisham speaks with White House senior advisor Kellyanne Conway at the campaign rally

Melania’s spokesperson Stephanie Grisham speaks with White House senior advisor Kellyanne Conway at the campaign rally

President Trump said as he opened the event that he could feel the ‘magic’ in Orlando – a play on the name of the city’s professional basketball team.

He spoke to supporters in the same arena that the team plays in, which is a venue that can hold roughly 20,000 people.

‘You know, I said, “This is a very big arena for a Tuesday night.” I said, “You know, if we have about three or four empty seats, the fake news will say – headlines: he didn’t fill up the arena.” So I said maybe we shouldn’t take the chance, maybe we shouldn’t go to Orlando, maybe we should go someplace else,’ Trump said in his opening remarks. ‘I said, “No, I think we’ll go to Orlando.” And, not only did we fill it up, but we had 120,000 requests. That means you folks have come out very, very good.’

Supporters camped out in tents for more than 30 hours to save their places at the front of a massive line that would ensure them floor seats at Tuesday evening’s show.

Saundra Kiczenski, a Michigan native who works in retail, waited from 7am on Monday. She said she’d been to rallies in support of the president in 15 states. She spent Monday night on the pavement in a sleeping bag.

‘I took the hotel pillow and slept on the ground,’ she told DailyMail.com on Tuesday afternoon as she waited to get in.

The Republican incumbent set the tone for the monster rally in Florida he’d be appearing at in the evening in a morning tweet that bashed the media and compared the scene outside the Amway Center to a rock tour.

‘The Fake News doesn’t report it, but Republican enthusiasm is at an all time high. Look what is going on in Orlando, Florida, right now! People have never seen anything like it (unless you play a guitar). Going to be wild – See you later!’ he tweeted on Tuesday morning.

A cover band with aging rockers who call themselves ‘The Guzzlers’ revved up the crowd under a beating sun at a ‘festival’ the campaign held in an outdoor parking lot, where vendors sold a captive and cramped group sodas, snow cones and Trump umbrellas.

Sweltering heat that topped 87 degrees soon turned to pouring rain, giving the umbrellas a dual purpose for supporters like Richard Snowden who chose to remain.

A resident of Las Vegas, Nevada, Snowden said he’d be ‘remiss’ to have skipped the kickoff. He told DailyMail.com from the comfort of a party-style tent his group had pitched that he’d attended 54 rallies since Trump announced his candidacy for office in 2015.

But even Snowden called himself a pragmatist and said of the president’s reelection odds, ‘I don’t think it’s going to be a cakewalk.’

‘The incumbency will help. He won’t catch them flat-footed this time,’ he observed, as he waited for the rally to begin. ‘And he won’t have the dislike of Hillary working in his favor,’ he said in remarks that proved to prescient.

The Republican incumbent set the tone for the monster rally in Florida he'd be appearing at in the evening in a morning tweet that bashed the media and compared the scene outside the Amway Center to a rock tour

 

The US President and First Lady Melania Trump are pictured stepping off Air Force One upon arrival at Orlando International Airport in Orlando, Florida Tuesday

The US President and First Lady Melania Trump are pictured stepping off Air Force One upon arrival at Orlando International Airport in Orlando, Florida Tuesday

Special advisor to the US president Jared Kushner and White House Press Secretary Sarah Huckabee Sanders wait for the arrival of US President Donald Trump and First Lady Melania Trump at Orlando International Airport

Michael Boulos and Tiffany Trump wait for the arrival of US President Donald Trump and First Lady Melania Trump at Orlando International Airport in Orlando

Special advisor to the US president Jared Kushner and White House Press Secretary Sarah Huckabee Sanders, left, and Michael Boulos and Tiffany Trump, right, wait for the arrival of US President Donald Trump and First Lady Melania Trump at Orlando International Airport on Tuesday

Donald Trump is putting an advisory on his Orlando rally, saying the official launch of 2020 campaign will be 'wild,' after supporters camped out in tents to save their places in line like they were waiting in line for a free concert with Rihanna

Donald Trump is putting an advisory on his Orlando rally, saying the official launch of 2020 campaign will be ‘wild,’ after supporters camped out in tents to save their places in line like they were waiting in line for a free concert with Rihanna

Supporters of President Donald Trump wait in line hours before the arena doors open for a campaign rally Tuesday

Supporters of President Donald Trump wait in line hours before the arena doors open for a campaign rally Tuesday

Patriotic colors: Trump supporters came in red white and blue for the campaign kick-off

Patriotic colors: Trump supporters came in red white and blue for the campaign kick-off

Determined: The early start was an attempt by the fanatical Trump backers to be at the front of the crowd for the campaign kick-off

Determined: The early start was an attempt by the fanatical Trump backers to be at the front of the crowd for the campaign kick-off

https://www.dailymail.co.uk/news/article-7156179/Trumps-2020-kickoff-features-media-bashing-attacks-Joe-Biden-old-foe-Hillary-Clinton.html

 

Trump, in 2020 campaign mode, calls Democrats ‘radical’

today

President Donald Trump jabbed at the press and poked the political establishment he ran against in 2016 as he kicked off his reelection campaign with a grievance-filled rally focused more on settling scores than laying out his agenda for a possible second term.

Addressing a crowd of thousands at Orlando’s Amway Center on Tuesday night, Trump complained he was “under assault from the very first day” of his presidency by a “fake news media” and an “illegal witch hunt” that had tried to keep him and his supporters down.

He painted a disturbing picture of what life would look like if he loses in 2020, accusing his critics of “un-American conduct” and saying Democrats “want to destroy you and they want to destroy our country as we know it.”

“A vote for any Democrat in 2020 is a vote for the rise of radical socialism and the destruction of the American dream,” he said. Trump made only passing mention of any of the Democrats running to replace him even as he tossed out “radical” and “unhinged” to describe the rival party.

Trump has long railed against the special counsel’s investigation into Russian meddling in the 2016 election and the ongoing probes by House Democrats in the aftermath of Robert Mueller’s report .

President Donald Trump officially kicked off his re-election campaign Tuesday with a grievance-filled Florida rally. "We're going to keep it better than ever before," he declared. (June 18)

The apocalyptic language and finger-pointing made clear that Trump’s 2020 campaign will probably look a whole lot like his run three years ago. Even after two-and-a-half years in the Oval Office, Trump remains focused on energizing his base and offering himself as a political outsider running against Washington.

Republican Party Chairwoman Ronna McDaniel tweeted Wednesday morning that Trump had raised $24.8 million in less than 24 hours for his reelection.

In his speech, Trump spent considerably more time focused on former Democratic rival Hillary Clinton than on his current 2020 challengers, even though she is not on the ballot.

Thousands of Trump supporters began gathering outside the arena on Monday.

“Trump has been the best president we’ve ever had,” said Ron Freitas, a retired Merchant Marine and registered Democrat from Orlando.

Hundreds of anti-Trump protesters clapped and took photos when a 20-foot (6-meter) blimp of a snarling Trump baby in a diaper was inflated. Some members of the far-right hate group Proud Boys were also spotted marching outside the rally.

Trump aides scheduled the kickoff near the four-year anniversary of the day when the former reality television star and New York tabloid fixture launched his longshot campaign for president with a famous escalator ride in front of a crowd that included paid actors.

Trump spoke fondly of his 2016 race, calling it “a defining moment in American history.” He said that in the years since, he had upended Washington, staring down “a corrupt and broken political establishment” and restoring a government “of, for and by the people.”

He never has really stopped running. He filed for reelection on Jan. 20, 2017, the day of his inauguration, and held his first 2020 rally in February, 2017, in nearby Melbourne. He has continued holding his signature “Make America Great Again” rallies in the months since.

Trump asked the crowd whether he should stick with “Make America Great Again” or upgrade his slogan. His new one — “Keep America Great” — was greeted with boisterous cheers.

Trump is hoping to replicate the dynamics that allowed him to take charge of the Republican Party and then the presidency as an insurgent intent on disrupting the status quo. In 2016, he successfully appealed to disaffected voters who felt left behind by economic dislocation and demographic shifts. He has no intention of abandoning that mantle, even if he is the face of the institutions he looks to disrupt.

The president underscored that on the eve of the rally in must-win Florida, returning to the hardline immigration themes of his first campaign by tweeting that next week, Immigration and Customs Enforcement “will begin the process of removing the millions of illegal aliens who have illicitly found their way into the United States.”

That promise, which came with no details and sparked Democratic condemnation, seemed to offer a peek into a campaign that will largely be fought along the same lines as his first bid, with very few new policy proposals for a second term.

Early Democratic front-runner Joe Biden said Trump’s politics are “all about dividing us” in ways that are “dangerous — truly, truly dangerous.”

Another leading Democratic contender, Vermont Sen. Bernie Sanders, said Trump had delivered “an hour-and-a-half speech of lies, distortions and total, absolute nonsense.”

But those involved in the president’s reelection effort believe his version of populism, combined with his mantra to “Drain the Swamp,” still resonates, despite his administration’s ties with lobbyists and corporations and the Trump family’s apparent efforts to profit off the presidency.Critics have pointed out his constant promotion for his golf courses, both at home and abroad, and note that this daughter, White House senior aide Ivanka Trump, made $4 million last year from her stake in the president’s Washington hotel, which has become a favored destination for foreign nationals looking to curry favor with the administration.

Advisers believe that, in an age of extreme polarization, many Trump backers view their support for the president as part of their identity, one not easily shaken. They point to his seemingly unmovable support with his base supporters as evidence that he is still viewed the same way he was as a candidate: a political rebel.

Trump tried to make the case that he had made good on his 2016 promises, including cracking down on illegal immigration and boosting jobs.

Near the rally’s end, Trump ran through a list of promises for a second term, pledging a new immigration system, new trade deals, a health care overhaul and a cure for cancer and “many diseases,” including eradicating AIDS in America.

https://apnews.com/947182a691e6498ca4488e9fc8f9e4b5

President Trump spent a Tuesday night rally he’d advertised as a 2020 kickoff hammering his old foe Hillary Clinton for acid washing her emails and failing to deliver on her pledge to beat him, while Democrats vying for the party’s nomination now escaped his wrath.

Noting that he’s under constant media scrutiny, Trump said that he’d be sent to the slammer if he ordered aides to destroy potential evidence.

‘But, can you imagine if I got a subpoena, think of this, if I got a subpoena for emails, if I deleted one email like a love note to Melania, it’s the electric chair for Trump,’ he claimed in a campaign speech in Orlando.

Trump said subpoenas he’s receiving are not about Democratic claims that his campaign may have colluded with Russia.

 

A sunshine state of mind! Melania and Donald Trump gaze lovingly at one another as they leave the White House hand-in-hand and head to Florida for the president’s 2020 rally

  • Trump, 73, and Melania, 49, departed the White House together on Tuesday to fly to Florida
  • The President will be officially launching his 2020 campaign with a rally at the Amway Center
  • The first lady wore a summery $2,290 white eyelet Andrew Gin dress with a pair of red and white polka-dot heels
  • She grinned at her husband as they walked hand-in-hand to Marine One
  • Melania is not expected to speak at the event, which will include an estimated 20,000 people

Donald and Melania Trump had a rare romantic public moment on Tuesday as the two left the White House for Orlando, Florida.

The President and first lady walked hand-in-hand across the South Lawn of the White House before boarding Marine One on their way to Trump’s 2020 campaign kickoff rally.

Cameras caught the couple sharing a warm smile as they held onto each other, Trump, 73, dressed in a navy suit and red tie and his 49-year-old wife took advantage of the June heat in a $2,290 summery white eyelet dress from Andrew Gin, and red polka-dot heels.

All smiles: Donald and Melania Trump held hands and beamed at one another as they walked across the White House lawn to begin their trip to Orlando, Florida, on Tuesday

All smiles: Donald and Melania Trump held hands and beamed at one another as they walked across the White House lawn to begin their trip to Orlando, Florida, on Tuesday

Ready to get away! The 49-year-old first lady couldn't wipe the smile off her face as she and the president strolled across the South Lawn

Ready to get away! The 49-year-old first lady couldn’t wipe the smile off her face as she and the president strolled across the South Lawn

On their way: They appeared to be in good spirits as they set out for Orlando, Florida+19

On their way: They appeared to be in good spirits as they set out for Orlando, Florida

Hands on: At one point, Trump clasped one of Melania's hands in both of his own+19

Hands on: At one point, Trump clasped one of Melania’s hands in both of his own

The couple isn’t typically much for PDA but shared an intimate smile as they walked passed photographers.

They held each other’s hands, with Trump stopping at one point in order to clasp Melania’s left hand in both of his own.

Melania beat the heat, which is hovering in the mid-to-high 80s in Washington, D.C. today, in a breezy but figure-flaunting white sleeveless dress, which featured a seasonally appropriate eyelet patter with floral cutouts on the top.

She accessorized with a pair of dark sunglasses and red and white pointy-toe pumps. while wearing her brown hair blown out around her shoulders.

The couple, who married in 2005, celebrated their 14th wedding anniversary in January, just one year less than he was married to his first wife Ivana.

The couple grinned as they boarded Marine One and then switched planes for Air Force One at Andrews Air Force Base in Maryland.

Hot out here: Melania wore a summery white eyelet dress for the occasion, as temperatures soared into the high 80s+19

Hot out here: Melania wore a summery white eyelet dress for the occasion, as temperatures soared into the high 80s

Protection: She shielded her eyes behind a pair of sunglasses+19

Protection: She shielded her eyes behind a pair of sunglasses

High heels: On her feet were a pair of red polka dot pointy-toe pumps+19

High heels: On her feet were a pair of red polka dot pointy-toe pumps

Ready to go: The well-coiffed first lady had her hair and nails done+19

Ready to go: The well-coiffed first lady had her hair and nails done

They’re flying down not to Mar-a-Lago but Orlando, where Trump is kicking off his 2020 presidential campaign at the Amway Center in front of an estimated 20,000 people.

Trump’s campaign is transforming the area outside the arena to have a festival-like atmosphere, with music and food trucks to help supporters pass the time.

The most coveted positions are not seats at all, but standing positions near the front of the stage. Backers of the president in that area are likely to get a handshake, a selfie or Trump’s autograph at the event that formally marks the beginning of his campaign for a second term.

All of Trump’s children and his wife Melania will be with him at the event, sources told DailyMail.com, as will the Mike Pence, the president’s running mate and the nation’s vice president.

The first lady does not plan to make formal remarks on Tuesday night, her office said, but given the president’s tendency to call on people to speak, she could end up addressing the crowd.

Donald Trump, Jr., on the other hand is expected to give remarks before the rally.

Beat the heat: Melania kept breezy in the lightweight dress+19

It will likely also serve her well in the Florida heat+19

Beat the heat: Melania kept breezy in the lightweight dress, which will likely also serve her well in the Florida heat

Staying behind: The first lady does not plan to make formal remarks on Tuesday night, her office said+19

Staying behind: The first lady does not plan to make formal remarks on Tuesday night, her office said

Change of plan? The couple's 13-year-old son Barron is also expected to be at the rally, but was not seen traveling with them+19

Change of plan? The couple’s 13-year-old son Barron is also expected to be at the rally, but was not seen traveling with them

Family affair: Trump's adult children — Ivanka, Don Jr., Eric, and Tiffany — are also expected to be there+19

Family affair: Trump’s adult children — Ivanka, Don Jr., Eric, and Tiffany — are also expected to be there

Melania continued to smile at her husband as they switched planes at Joint Base Andrews+19

Melania continued to smile at her husband as they switched planes at Joint Base Andrews

See ya! Trump waved goodbye as they boarded the plane together+19

See ya! Trump waved goodbye as they boarded the plane together

The president’s eldest son is a frequent presence at campaign events — with and without his father — and often serves as a warm-up act for the president’s supporters. He’s also campaigned and raised money for other Republican candidates since his father entered politics.

His girlfriend Kimberly Guilfoyle, a former Fox News personality, is also scheduled to be at the rally. She serves as a senior adviser to the president’s reelection campaign.

Senior advisers and family members to the president Jared Kushner and Ivanka Trump are also expected to be at the rally.

It’s unclear if Lara Trump, wife of Eric Trump, will be in Orlando. She serves as a senior adviser to the president’s campaign, but is also pregnant with the couple’s second child. She made a state trip to the UK in early June.

It will be 13-year-old Barron Trump’s first appearance at a campaign rally since his father took office.

Trump’s youngest daughter Tiffany, who has been less involved than her older siblings in her father’s campaigns and administration, will also be there.

Orlando Trump supporters stakeout spots ahead of rally

Waiting for him: The rally will mark the official launch of 2020 campaign+19

Waiting for him: The rally will mark the official launch of 2020 campaign

Patience: Supporters waited in line hours before the arena doors opened on Tuesday+19

Patience: Supporters waited in line hours before the arena doors opened on Tuesday

Patriotic colors: Trump supporters came in red white and blue for the campaign kick-off

Wild: The Republican incumbent set the tone in a morning tweet that bashed the media and compared the scene outside the Amway Center to a rock tour

President Trump release his 2020 campaign ad for re-election

The Republican incumbent set the tone for the monster rally in Florida he’d be appearing at this evening in a morning tweet that bashed the media and compared the scene outside the Amway Center to a rock tour.

‘The Fake News doesn’t report it, but Republican enthusiasm is at an all time high. Look what is going on in Orlando, Florida, right now! People have never seen anything like it (unless you play a guitar). Going to be wild – See you later!’ he said.

Trump had apparently dropped a claim that ‘thousands’ turned up on Monday, with about 250 people camping overnight. But the numbers grew steadily as temperatures soared in Orlando Tuesday, reaching 87 degrees before an hour-long downpour that soaked a waiting crowd.

A new Quinnipiac poll showed Trump losing Florida to Democratic nemesis Joe Biden. The former vice president would beat Trump by nine points, 50 – 41 per cent, the newly-released survey showed.

Vermont Sen. Bernie Sanders would win by a similar margin, 48 – 42, while other top Democrats would perform in the poll’s margin of error

https://www.dailymail.co.uk/femail/article-7155853/Melania-Trump-smiles-warmly-husband-depart-Orlando-campaign-kickoff-rally.html

 

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The Pronk Pops Show 1274, June 13, 2019, Story 1: Two Tankers Transitioning The Strait of Hormus  in Gulf of Oman Shelled, Torpedoed and On Fire — Videos — Story 2: Totally Fiscally Irresponsible Democrat and Republican Parties: U.S. Federal Government Spending Totally Out-of-Control Should Exceed $4,000 Billion With $1,000 Billion Deficits For Fiscal Year 2019 and Forever! — National Debt Approaching 100% of Gross Domestic Product By 2020 — Spending Addiction Disorder (SAD) — Entitlement, Welfare and Tax Reform Absolutely Must Happen To Avoid Massive Increases in Interest Rates — Videos — Story 3: United States Government To Purchase 478 New Joint Strike Fighter F-35s Lightning II for the Air Force, Navy and Marines and Allied Militaries From and Lockheed Martin for About $34 Billion — Videos — Story 4: What Will Cause The Next Recession In United States — Videos

Posted on June 14, 2019. Filed under: 2020 President Candidates, 2020 Republican Candidates, Addiction, Addiction, American History, Applications, Banking System, Blogroll, Breaking News, Bribery, Bribes, Budgetary Policy, Cartoons, China, Coal, Communications, Computers, Congress, Corruption, Countries, Crime, Currencies, Defense Spending, Donald J. Trump, Donald J. Trump, Donald Trump, Drugs, Economics, Education, Elections, Empires, Employment, Energy, Environment, European History, European Union, Federal Government, First Amendment, Fiscal Policy, Food, Free Trade, Freedom of Speech, Government, Government Dependency, Government Spending, Hate Speech, History, House of Representatives, Human, Human Behavior, Illegal Immigration, Immigration, Independence, Investments, Islamic Republic of Iran, Killing, Labor Economics, Language, Law, Legal Immigration, Life, Lying, Media, Medicare, Mental Illness, Middle East, Military Spending, Monetary Policy, National Interest, National Security Agency, Natural Gas, Natural Gas, Oil, Oil, People, Philosophy, Photos, Politics, Polls, Progressives, Public Corruption, Public Relations, Raymond Thomas Pronk, Resources, Rule of Law, Scandals, Security, Senate, Social Security, Software, Space, Spying, Success, Tax Policy, Taxation, Taxes, Trade Policy, U.S. Dollar, U.S. Negotiations with Islamic Republic of Iran, Unemployment, United States Constitution, United States of America, Vessels, Videos, Violence, War, Wealth, Weapons, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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Story 1: Two Tankers Transitioning The Strait of Hormus  in Gulf of Oman Shelled, Torpedoed and On Fire — Videos —

Why isn’t the oil market reacting to the oil tanker attacks?

Iran responsible for attack on two tankers: Pompeo

US has video of Iran removing unexploded mine from oil tanker: Report

Iran rejects US accusation of involvement in tanker attacks

U.S. officials: Iran likely behind new tanker attacks

BREAKING – 2 Oil Tankers in Gulf of Oman (straight of Hormuz) on fire

Crew have been rescued after abandoning two oil tankers hit by explosions in the Gulf of Oman

US Navy Heads for Oil Tanker Incident in Gulf of Oman

 

Two Oil Tankers Attacked Near Straight of Hormuz

Tanker Attacks In Gulf of Oman Fuel Security, Oil Supply Fears

 

Oil tanker attacks echo Persian Gulf’s 1980s ‘Tanker War’

 Mysterious attacks on oil tankers near the strategic Strait of Hormuz this week show how one of the world’s crucial chokepoints for global energy supplies can be easily targeted, 30 years after the U.S. Navy and Iran were entangled in a similarly shadowy conflict called the “Tanker War.”

While the current tensions are nowhere near the damage done then, it underscores how dangerous the situation is and how explosive it can become.

The so-called “Tanker War” involved American naval ships escorting reflagged Kuwaiti oil tankers through the Persian Gulf and the strait after Iranian mines damaged vessels in the region. It culminated in a one-day naval battle between Washington and Tehran, and also saw America accidentally shoot down an Iranian passenger jet, killing 290 people.

U.S. estimates suggest Iran attacked over 160 ships in the late 1980s confrontation.

“We need to remember that some 30% of the world’s crude oil passes through the straits,” said Paolo d’Amico, the chairman of the oil tanker association INTERTANKO. “If the waters are becoming unsafe, the supply to the entire Western world could be at risk.”

So far, six oil tankers have been damaged in suspected limpet mine attacks, explosives that can be magnetically stuck to the side of a ship. The first attack happened May 12 off the coast of the Emirati port city of Fujairah and targeted four tankers. Thursday’s apparent attack damaged two other tankers.

The U.S. has blamed Iran for both incidents, offering a video on Friday it said showed Iranian Revolutionary Guard forces spirit away one mine stuck to a tanker that didn’t explode in Thursday’s assault. For its part, Iran denies being involved and calls the allegations part of America’s “Iranophobic campaign” against it.

Meanwhile, the owner of the tanker Kokuka Courageous said its sailors saw “flying objects” before the attack, suggesting it wasn’t damaged by mines and contradicting the U.S. military.

Confusion pervaded the start of the “Tanker War” as well.

That conflict grew out of the bloody eight-year war between Iraq and Iran in the 1980s, which began when Iraqi dictator Saddam Hussein invaded Iran. The war killed 1 million people. The U.S. supported Saddam by providing intelligence, weaponry and other aid.

Iraq first targeted Iran’s shipping and by 1984 attacked Kharg Island, a crucial oil-tanker-loading terminal for Iran. Its air force also attacked ships in the Persian Gulf. After the Kharg attack, Iran began a concerted campaign to attack shipping in the region.

Iraq ultimately would attack over 280 vessels to Iran’s 168, according to the U.S. Naval Institute.

The Iran’s mining campaign began in earnest in 1987. At night, the Revolutionary Guard would drop mines from vessels disguised as traditional dhows, which ferry cargo around the waters of the Persian Gulf.

As attacks targeted Kuwaiti oil tankers, the U.S. ultimately stepped in to protect them. The Soviet Union also volunteered.

https://www.newsday.com/news/world/oil-tanker-attacks-echo-persian-gulf-s-1980s-tanker-war-1.32361954

 

MISCHIEVOUS PLOT’

Iran accuses the US of LYING about the ‘suspicious’ attack on American-linked oil tanker and denies ordering ‘torpedo’ assault

US Secretary of State Mike Pompeo blamed Iran for the “blatant” attacks on two tankers which burst into flames in the Gulf of Oman on Thursday.

 A huge fire rages on board the Front Altair after it was reportedly hit by a torpedo in the Gulf of Oman

A huge fire rages on board the Front Altair after it was reportedly hit by a torpedo in the Gulf of Oman

 The tanker was one of two ships attacked today sparking an evacuation of all crew members

The tanker was one of two ships attacked today sparking an evacuation of all crew members

 The Pentagon released this image which is says shows Iranian involvement in the oil tanker attacks

The Pentagon released this image which is says shows Iranian involvement in the oil tanker attacks

But Iran has hit back at the “unfounded and reckless” claims and accused the US of “warmongering” as part of a “disinformation campaign”.

“The US and its regional allies must stop warmongering and put an end to mischievous plots and false flag operations in the region,” Iran’s mission to the United Nations said.

“Warning, once again, about all of the US coercion, intimidation and malign behaviour, Iran expresses concern over suspicious incidents for the oil tankers that occurred today.”

It came after Pompeo pointed the finger at Iran and the Pentagon released images and footage as “proof” of Iranian involvement.


What we know so far:

  • Two oil tankers were seriously damaged in the suspected torpedo attack
  • The US believes Iran is definitely to blame for the shocking attacks
  • Tehran has accused America of ‘Iranophobia’ and says it is innocent
  • Almost 50 sailors had to be rescued from the stricken tankers in the Gulf
  • Oil prices surged by 3.5 per cent after today’s suspected terror attack
  • Iran’s foreign minister has branded the explosions as “suspicious”
  • The US Navy’s 5th Fleet is now investigating the suspected torpedo attack

Pompeo said the attacks were part of a “campaign” of “escalating tension” by Iran which posed a threat to international peace and security.

Iran blasted his “inflammatory remarks” and said they amounted to “another Iranophobic campaign”.

“Iran categorically rejects the U.S. unfounded claim with regard to 13 June oil tanker incidents and condemns it in the strongest possible terms,” the Iranian mission said in a statement.

The hardline Islamic nation added that the US poses the “most significant threat” to the peace and security of the Persian Gulf region.

“The US economic war and terrorism against the Iranian people as well as the massive military presence in the region have been and continue to be the main sources of insecurity and instability in the wider Persian Gulf region and the most significant threat to its peace and security,” the statement said.

Iran’s foreign minister later dismissed the US accusations as “sabotage diplomacy”.

 The Panama-flagged Kokuka Courageous is believed to have been targeted by a magnetic mine

The Panama-flagged Kokuka Courageous is believed to have been targeted by a magnetic mine

 An aerial picture showing the huge blaze raging on the oil tanker after the attack this morning

An aerial picture showing the huge blaze raging on the oil tanker after the attack this morningCredit: AP:Associated Press

 US Secretary of State Mike Pompeo blamed Iran for the blatant attacks

US Secretary of State Mike Pompeo blamed Iran for the blatant attacksCredit: Getty Images – Getty

US Secretary of State Mike Pompeo blames Iran for attacks on oil tankers in the Gulf of Oman in blast at the Islamic state

Both the Front Altair and the Panama-flagged Kokuka Courageous burst into flames and were forced to evacuate in the troubled region on Thursday.

Reports suggested the Japanese-owned Kokuka Courageous may have been targeted by a magnetic mine causing a series of massive explosions on board.

The Pentagon released a video that it said showed Iran’s Revolutionary Guard removing an unexploded limpet mine from the tanker.

This suggests the Islamic Republic may have sought to remove evidence of its involvement from the scene.

SMOKING GUN?

The black-and-white footage, as well as still photographs released by the US military’s Central Command, appeared to show the limpet mine on the Kokuka Courageous.

But the owner has since said the tanker crew saw “flying objects” before the attack, suggesting the ship was not damaged by mines, according to AP.

Pompeo said the US will defend its forces and interests in the region but gave no specifics about any plans and he took no questions.

Hours later it was revealed the US Navy is sending the guided missile destroyer USS Mason to the scene of the attacks.

The USS Bainbridge rescued 21 of the 44 stricken sailors involved in the incident near the Strait of Hormuz.

BRITAIN BLASTS ‘DEEPLY UNWISE’ ATTACKS

Britain is working on the basis that Iran is responsible for the attacks and warned Iran that these actions were “deeply unwise”.

Foreign Secretary Jeremy Hunt said: “This is deeply worrying and comes at a time of already huge tension.

“I have been in contact with Pompeo and, while we will be making our own assessment soberly and carefully, our starting point is obviously to believe our U.S. allies.

“We are taking this extremely seriously and my message to Iran is that if they have been involved it is a deeply unwise escalation which poses a real danger to the prospects of peace and stability in the region.”

Norwegian shipping firm Frontline, which owns the Altair, has denied Iranian reports that the tanker had sunk.

The ship was built in 2016 and is flagged to the Marshall Islands – a US associated state in the Pacific Ocean.

Chartered by Taiwan’s state oil refiner CPC Corp, the huge vessel set sail from the UAE port of Ruwais on Tuesday and was due to arrive in Kaohsiung on June 30.

Speaking to Reuters, the CEO of CPC’s petrochemical division Wu I-Fang said the tanker was “suspected of being hit by a torpedo.”

He said it was carrying 75,000 tonnes of naphtha, a petrochemical feedstock, which trade sources estimate to be worth more than $30 million.

Gulf of Oman attack- 23 oil tanker crew members filmed safe in Jask after suspected attack

Paolo d’Amico, chairman of the tanker association, Intertanko, said concern was rising for other crews braving the powder keg shipping lanes.

He said: “If the waters are becoming unsafe, the oil supply to the entire Western world could be at risk.”

It comes as tensions in the Persian Gulf between the United States and Iran are threatening to reach boiling point.

A Saudi-led coalition has described the attack as a “major escalation”.

In recent weeks, Washington has sent a number of battleships to the region in response to what it says are Iranian threats against American interests and its allies in the region.

The Kokuka Courageous – which is owned by Japanese firm Kokuka Sangyohad – set sail from Al Jubail in Saudi Arabia on June 10 and was due to reach Singapore by June 22.

Oil prices rose by 3.5 per cent following news of the explosions, according to reports.

Iran’s foreign minister Mohammad Javad Zarif branded the explosions as “suspicious” calling them “reported attacks on Japan-related oil tankers.”

He said the incident had happened as Iran’s Supreme Leader Ayatollah Khamenei was meeting with Japanese Prime Minister Shinzo Abe, a close American ally.

The US Navy’s 5th Fleet said it is aware of a “reported attack” in the area and is investigating.

A statement said: “US naval forces in the region received two separate distress calls at 6.12 am local time and a second one at 7.00 am.

“US Navy ships are in the area and are rendering assistance.”

 The incident reportedly happened in the Gulf of Oman this morning

12
The incident reportedly happened in the Gulf of Oman this morning

Speaking about the attacks, White House spokesperson Sarah Sanders said: “The President has been briefed on the attack on ships in the Gulf of Oman.

“The US Government is providing assistance and will continue to assess the situation.”

The United Kingdom Maritime Trade Operations, which is run by the British Navy, urged “extreme caution” and said it was investigating the incident.

“We are deeply concerned by reports of explosions and fires on vessels in the Gulf of Oman. We are in contact with local authorities and partners in the region.”

Authorities do not believe that any British nationals were on the two ships.

A UK Foreign Office spokesperson said: “We are deeply concerned by reports of explosions and fires on vessels in the Gulf of Oman. We are in contact with local authorities and partners in the region.”

This comes after the US claimed Iran used explosives to blow huge holes in four ships – including two Saudi oil tankers – anchored in the Persian Gulf last month.

The ships reportedly had ruptures measuring up to ten foot across  in their hulls as a result of the May 12 sabotage attacks.

Recent US and Iran tensions

  • May 5: USS Abraham Lincoln carrier strike group and a bomber task force is deployed in Middle East in response to ‘a number of troubling and escalatory indications and warnings’ by Iran.
  • May 8: Iran vows to enrich its uranium stockpile if world powers fail to negotiate new terms for its nuclear deal. The US responds by imposing sanctions on Iran’s metals industry.
  • May 10: The US says it will move a Patriot missile battery into the Middle East to counter threats from Iran.
  • May 24: President Trump says the US will bolster its military presence in the Middle East with an additional 1,500 troops.
  • May 12: The UAE says four commercial ships off its eastern coast “were subjected to sabotage operations,” just hours after Iranian and Lebanese media outlets air false reports of explosions at a nearby Emirati port.

 Huge plumes of thick black smoke billow from the massive tanker in the Gulf of Oman following a suspected torpedo attack

Huge plumes of thick black smoke billow from the massive tanker in the Gulf of Oman following a suspected torpedo attackCredit: AP:Associated Press

 One of the tankers on fire in the Gulf of Oman following the suspected torpedo attack

One of the tankers on fire in the Gulf of Oman following the suspected torpedo attackCredit: AFP or licensors

 The Front Altair, from the US-linked Marshall Islands, was one of the ships reportedly attacked today near Iran

The Front Altair, from the US-linked Marshall Islands, was one of the ships reportedly attacked today near IranCredit: Shipspotting.com

Two tankers: all you need to know

  • Front Altair was built in 2016 and is flagged to the Marshall Islands
  • It is owned by Norwegian company Frontline and is operated by Dubai-based International Tanker Management
  • The ship was carrying 75,000 tonnes of naphtha, a petrochemical product, worth $30m when it was attacked
  • It was carrying 23 crew members who were all rescued
  • The vessel can carry up to 62,849 tonnes of cargo
  • It weighs a staggering 109,894 tonnes
  • Kokuka Courageous was built in 2010 and is flagged to Panama
  • It is owned by Japanese firm Kokuka Sangyo and is operated by BSM Ship Management
  • The ship was carrying 25,000 tonnes of methanol when it was attacked
  • 21 sailors on board were rescued. One suffered minor injuries

They were targeted near the port of Fujairah in the United Arab Emirates – with one of the tankers due to be loaded with Saudi crude oil bound for the US.

A Washington-based official told the Associated Press that an American military team’s initial assessment indicated Iran or its allies used explosives to blow holes in the ships.

A huge US naval presence has built up in the Gulf over recent weeks amid a fevered standoff between Washington and Tehran.

US intelligence revealed Iran was on the verge of carrying out offensive action to disrupt and attack American and partner interests in the region.

It led to the deployment of US aircraft carriers, Patriot missiles and B52 bombers over recent days.

The general-secretary of the Gulf Cooperation Council described the sabotage as a “serious escalation” in an overnight statement.

Iran’s foreign ministry spokesman called the incidents near the coast of Fujairah on May 12 “worrisome and dreadful” and asked for an investigation into the matter.

US and Iran – a troubled history

  • Before the 1979 Iranian revolution, Iran was one of America’s biggest allies in the Middle East and was led by the US-backed Mohammad Reza Shah Pahlavi.
  • However, since the seismic revolt, Iran has been led by murderous Islamic fundamentalists and tensions with Washington have remained ever since.
  • On November 4, 1979, the Iranian regime took 52 US diplomats hostage in response to President Carter’s administration allowing Iran’s deposed former leader into America.
  • The hostage crisis lasted for 444 days and also included a failed rescue mission which cost the lives of eight US soldiers.
  • In April 1980, the US ended diplomatic relations with Iran – a break which lasted for more than 30 years.
  • In April 1983, Washington blamed the Iranian-funded terror group Hezbollah for carrying out a bombing attack on the American embassy in Beirut, Lebanon.
  • The assault, carried out amid a brutal civil war in Lebanon, killed 17 Americans.
  • In November of that year, two truck bombs in Beruit killed 241 US peace keepers. The US again blamed Hezbollah for the incident.
  • The Clinton White House, in 1995, placed a total embargo on Iran meaning US companies could not trade with the country.
  • And in 2002, George W Bush included the Islamic Republic in his famous “Axis of evil” speech along with North Korea and Iraq.

 The latest explosions in the region come after four ships were attacked with explosives last month in the Persian Gulf

The latest explosions in the region come after four ships were attacked with explosives last month in the Persian GulfCredit: Reuters
 The United States deployed an additional warship to the Gulf
The United States deployed an additional warship to the GulfCredit: AFP

What is the Iran nuclear deal?

The deal is an agreement between the Islamic Republic and a group of world powers aimed at scrapping the Middle Eastern country’s nuclear weapons programme.

It saw Iran agree to eliminate its stockpile of medium-enriched uranium by 98 per cent.

According to the deal, Iran would receive relief from the US, the European Union and the United Nations Security Council on all nuclear-related economic sanctions.

The agreement was reached on July 14, 2015, and was signed by world powers in Vienna, Austria.

However,  on May 8, 2018, President Trump announced the US would withdraw from the agreement – which he has repeatedly called “insane” and ridiculous”.

America’s withdrawal from the deal mean crippling economic sanctions will once again be placed on Iran – further heightening tensions between the two countries.

https://www.thesun.co.uk/news/9292305/iran-oil-tanker-attack-gulf-of-oman/

 

Tankers ablaze in suspected attacks near Gulf oil chokepoint

A picture obtained by AFP from Iranian News Agency ISNA on June 13, 2019 reportedly shows fire and smoke billowing from the Norwegian-owned Front Altair tanker, one of two vessels hit by suspected attacks in the waters of the Gulf of Oman

A picture obtained by AFP from Iranian News Agency ISNA on June 13, 2019 reportedly shows fire and smoke billowing from the Norwegian-owned Front Altair tanker, one of two vessels hit by suspected attacks in the waters of the Gulf of Oman

Suspected attacks left two tankers ablaze in the waters of the Gulf of Oman on Thursday, sparking fears of a broader conflict and sending world oil prices soaring.

The mysterious incident came amid spiralling tensions between Iran and the US, which pointed the finger at the Islamic republic last month over similar attacks in the strategic sea lane.

The UN Security Council is to hold a closed-door meeting later on Thursday at the request of the United States to discuss the suspected attacks.

The Norwegian Maritime Authority said three explosions were reported on board the Norwegian-owned tanker Front Altair after it was “attacked” along with the Japanese-owned Kokuka Courageous.

Iran said its navy rescued 44 crew members after the two vessels, which were carrying highly inflammable material, caught fire.

Footage aired on television showed thick, black plumes of smoke and flames billowing from one of the tankers as it lay out to sea.

Iranian Foreign Minister Mohammad Javad Zarif said the timing of the “reported attacks” was “suspicious”, coming as Japan’s prime minister held talks in Iran.

Suspected attacks involving tankers in Gulf

Suspected attacks involving tankers in Gulf

The US Fifth Fleet, based in the Gulf kingdom of Bahrain, said its warships had received separate distress calls from each vessel.

The White House said US President Donald Trump was briefed on the suspected attacks and the government was assessing the situation.

UN chief Antonio Guterres condemned the “security incidents” and warned the world cannot afford a major confrontation in the Gulf, while the European Union called for “maximum restraint”.

State media in Iran said the incidents happened one hour apart in the early morning.

The Front Altair, a 111,000-tonne vessel carrying ethanol from Qatar to Taiwan, caught fire first off Bandar-e-Jask in southern Iran, the official IRNA news agency said.

“As the ship caught fire, 23 of the crew jumped into the water and were saved by a passing ship and handed over to the Iranian rescue unit,” it said.

Robert Hvide Macleo, chief executive for the ship’s owner Frontline, wrote in a text message to AFP: “I can confirm that the vessel has NOT sunk” and the crew were “all safe”.

– ‘Security incident’ –

Iranian Foreign Minister Mohammad Javad Zarif said the "reported attacks" on two tankers in the Gulf were "suspicious" as it happened while the Japanese prime minister was having talks in Tehran

The Kokuka Courageous was headed to Singapore from Saudi Arabia with a cargo of methanol, IRNA said.

Singapore-based BSM Ship Management said it had “launched a full-scale emergency response following a security incident” involving the Kokuka.

“The 21 crew of the vessel abandoned ship after the incident on board which resulted in damage to the ship’s hull starboard side,” it said of the vessel owned by Japanese company Kokuka Sangyo Ltd.

“One crew man from the Kokuka Courageous was slightly injured… and is receiving first aid.”

In Tokyo, Japan’s Economy, Trade and Industry Minister Hiroshige Seko said: “A tanker carrying Japan-related goods was attacked. There were no injuries among the crew members. They got off the tanker. There were no Japanese members.”

Front Altair was reportedly still burning late Thursday, but the fire aboard the Kokuka Courageous was under control extinguished, said an Iranian official involved in the rescue operation.

The incident came as Japanese Prime Minister Shinzo Abe was on an unprecedented visit to Iran, seeking to defuse tensions between Tokyo’s ally Washington and the Islamic republic.

– Oil price spike –

World oil prices surged following reports of the suspected attacks, exacerbating tensions in the crude-rich Middle East, analysts said.

“Tension across the Middle East is high — and the attacks on two tankers has further exacerbated the situation, even though there does not appear to have been any damage to the cargos,” said John Hall, chairman of British-based consultancy Alfa Energy.

London’s Brent North Sea oil jumped more than four percent in morning deals before trimming gains.

The strategic Strait of Hormuz

In afternoon trading, Brent for August delivery stood at $61.99 per barrel, up $2.02, or nearly 3.4 percent from Wednesday.

New York’s West Texas Intermediate was up $1.60 or around 3.1 percent at $52.74 per barrel.

The Gulf of Oman lies at the other end of the strategic Strait of Hormuz from the Gulf, part of a vital chokepoint through which at least 15 million barrels of crude oil and hundreds of millions of dollars of non-oil imports pass.

On May 12, four oil tankers — two Saudi, one Norwegian and one Emirati — were damaged in still unexplained attacks off the port of Fujairah in the United Arab Emirates.

US national security adviser John Bolton said Iranian naval mines were almost certainly behind those attacks without providing any evidence.

The UAE said initial findings of a five-nation investigation delivered to the UN pointed to the likelihood a state was involved.

King Salman of Saudi Arabia warned this month that “terrorist” attacks in the Gulf could imperil global oil supplies, as he sought to galvanise support against arch-rival Iran.

The kingdom, the world’s top oil exporter, ratcheted up tensions with Iran after the attacks off Fujairah, which were followed by a drone strike on a key Saudi oil pipeline claimed by Yemen’s Iran-aligned Huthi rebels.

“We are in a dangerous moment in the region with this emerging pattern of attacks,” said Elizabeth Dickinson, senior analyst with International Crisis Group.

“Any miscalculation or misunderstanding risks a spiral toward more direct confrontation,” she told AFP.

https://www.dailymail.co.uk/wires/afp/article-7136677/Two-oil-tankers-evacuated-new-incident-Gulf-Oman.html

Iran Has Little to Gain From Oman Tanker Attacks

Julian Lee,
Bloomberg

Two oil tankers have been damaged in a suspected attack in the waters between the United Arab Emirates and Iran as they were leaving the Persian Gulf. This is the second incident in four weeks, and raises the question of who gains what from them.

Fingers will certainly be pointed at Iran as the mastermind behind these events. But the potential benefits to the Persian Gulf nation are outweighed by the risks. And even if Tehran isn’t responsible, it will still suffer the consequences.

The first tanker to report a problem was the Front Altair. It was reported to be carrying 75,000 tons of naphtha, loaded in Abu Dhabi, to Japan, although it was signaling a destination of Kaosiung in Taiwan when it was damaged. The second vessel was the Japanese-owned Kokuka Courageous, which was sailing from Saudi Arabia to Singapore with a cargo of methanol.

A person who’s heard local radio transmissions between ships in the region told Bloomberg that a torpedo attack is suspected to have caused an explosion and fire on the Front Altair. The managers of the Kokuka Courageous said in a statement that “the 21 crew of the vessel abandoned ship after the incident on board which resulted in damage to the ship’s hull starboard side.”

Who gains from these attacks?

The obvious answer is Iran. If Tehran is attacking tankers leaving the Persian Gulf – either directly, or through proxies – it sends a message that transit through the world’s most important choke point for global oil flows is not safe without its consent. If Iran is pushed to the brink economically by sanctions, it will not go quietly. Other nations in the region will bear the cost of disruptions to their own oil exports, while America and its allies will have to cope with higher crude prices and disruptions to supplies.

Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers. Nevertheless, we are still far from the level of tension that existed during the so-called Tanker War of the 1980s, when 451 vessels (259 of them oil or refined petroleum product tankers) suffered some sort of attack in the region, according to a report from the U.S. Naval Institute. The incidents took place during the Iran-Iraq war, and the culprits were forces from both countries.

Then, the U.S. navy resorted to escorting vessels through the Persian Gulf. That would be an expensive operation to repeat and would tie up a large part of the U.S. and allied fleets in the region. It would also raise the cost of the U.S. drive against Iran, which began with President Donald Trump’s decision to pull out of the Iran nuclear deal in May 2018.

Brent crude was up by as much as 4.45% on Thursday, shortly after news of the attacks broke, although it has since lost some of those gains. The nation’s oil exports have been seriously curtailed by U.S. sanctions, and higher prices are its only route to increasing revenues. But the benefits are likely to be relatively small, given the dwindling volumes and steep discounts that the country probably has to offer to shift its oil.

There is another group that will benefit from the incident – the people who want to see the U.S. step up its campaign against Iran and move from an economic war to a military one. There are plenty of those, both in the U.S. and among its allies in the Persian Gulf and wider Middle East regions.

The timing of the attacks also raises questions.

They come as Japanese Prime Minister Shinzo Abe is visiting Tehran, with the blessing of President Trump. On Wednesday Abe urged Tehran to avoid conflict at all costs and pledged to do his utmost to ease tensions. The tankers damaged on Thursday were carrying cargoes related to Japan,  Hiroshige Seko, minister of Economy, Trade and Industry, said on the ministry’s Twitter feed.

A day earlier, Iran freed a U.S. resident imprisoned on espionage charges.

This would seem very clumsy timing from a country seeing the first tangible signs of any easing of the crippling sanctions imposed by the Americans. But it is absolutely understandable if you’re someone whose ultimate goal is to derail any easing of tensions between the two nations, and to effect regime change in Tehran. Whoever is behind the attacks is no friend of Iran.

–With assistance from Elaine He.

Oil rallies after apparent attack on tankers near Strait of Hormuz, but finish off session high

Oil futures rallied Thursday, as an attack on two oil tankers near the Strait of Hormuz raised fears of a potential disruption to the global flow of oil, but failed to recoup the previous days losses by the close.

“Supply concern flare-ups are not infrequent occurrences in crude markets,” said Ryan Giannotto, director of research at GraniteShares.

“The nature of these events is that the outcomes are quite binary: either a major supply disruption event transpires or it does not,” he said. “This lack of a middle ground in outcomes stokes fear in commodities markets, but the added risk premium tends to abate rapidly.”

West Texas Intermediate crude for July delivery CLN19, -0.33%  rose $1.14, or 2.2%, to end at $52.28 a barrel after tapping an intraday high of $53.45. The gains contrasted with a 4% drop that took the U.S. benchmark down to $51.14 Wednesday, the lowest front-month contract finish since Jan. 14, according to Dow Jones Market Data.

https://www.marketwatch.com/story/oil-prices-rebound-from-five-month-lows-on-reports-of-gulf-of-oman-tanker-fire-2019-06-13

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Federal Spending Tops $3 Trillion Through May for First Time; Deficit Hits $738 Billion

By Terence P. Jeffrey | June 12, 2019 | 2:25 PM EDT

(Getty Images/Win McNamee)

(CNSNews.com) – For the first time in the history of the United States, the federal government has spent more than $3 trillion in the first eight months of the fiscal year, according to the Monthly Treasury Statement released today.

The record $3,013,541,000,000 that the federal government spent in October through May of fiscal 2019 was $181,157,920,000 more than the previous record of $2,832,383,080,000 (in constant May 2019 dollars) that the federal government spent in October through May of fiscal 2009.

Total federal tax revenues in the first eight months of fiscal 2019 hit $2,274,902,000,000, which fell $5,612,990,000 short of the record $2,280,514,990,000 (in constant May 2019 dollars) that the Treasury collected in total tax revenues in the first eight months of fiscal 2016.

Even with the second highest tax revenues ever collected in the first eight months of the fiscal year, the federal government still ran a deficit for those eight months of $738,639,000,000.

Table 3 of the Monthly Treasury Statement, which summarizes federal receipts and outlays for the current fiscal year to date, indicated the Department of Health and Human Services cost the most money, accounting for $834,346,000,000 in federal spending in the first eight months of the fiscal year. The Social Security Administration cost the second most, accounting for $730,000,000,000 in federal spending during the period.

The Department of Defense was third, accounting for $439,289,000,000 in federal spending.

The combined $1,564,346,000,000 the federal government spent on HHS and the Social Security Administration during the first eight months of the fiscal year equaled 51.9 percent of the record total of $3,013,541,000,000 in federal spending during the period.

The combined $1,564,346,000,000 spent on HHS and Social Security was 3.56 times as much as the $439,289,000,000 spent on the Defense Department.

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Pentagon, Lockheed Martin Reach ‘Handshake’ Deal For Hundreds Of F-35s

If the deal goes through, the company will produce a whopping 478 F-35s. That’s the largest procurement in the Pentagon’s history.

The Defense Department and Lockheed Martin have reached a “handshake” agreement on a $34 billion contract to make hundreds of new F-35 fighter jets.

According to a press release from Lockheed Martin, if the deal goes through, the company will produce a whopping 478 F-35s. That’s the largest procurement in the Pentagon’s history.

As a Pentagon spokesperson told The Washington Post, buying the jets in large quantities should allow the Defense Department to lower the average unit cost per plane significantly.

The F-35 program has been repeatedly criticized for its hefty price tag. After all, the estimated lifetime cost of the program is more than $1 trillion.

https://www.newsy.com/stories/dod-lockheed-martin-reach-tentative-deal-for-f-35-jets/

 

Pentagon and Lockheed Martin reach tentative $34 billion deal for hundreds of F-35 fighter jets

One Pentagon official described it as the largest procurement in the history of the Defense Department.


A Lockheed Martin F-35 aircraft in Berlin. REUTERS/Axel Schmidt (Axel Schmidt/Reuters)

June 11 at 5:22 PM

The Pentagon and Lockheed Martin have reached a tentative agreement to procure 470 new F-35 fighter jets for the Air Force, Navy and Marines and allied militaries, the Defense Department announced Tuesday. A finalized contract award is expected in August, officials said.

If the massive order for the F-35 Joint Strike Fighters is finalized, it will be the largest procurement in the history of the Defense Department. Its value is estimated at $34 billion.

The $34 billion agreement “marks the largest procurement in the history of the Department and provides a best value for our warfighter and taxpayer, incentivizes industry to continuously improve their performance and achieves the lowest F-35 unit prices per aircraft to date,” Vice Adm. Mathias Winter, F-35 program executive, said in an email to reporters.

Buying the jets in bulk should allow the Pentagon to decrease the average unit cost of the plane by about 15 percent, a Pentagon spokeswoman said. And it should bring the cost of the most common F-35 variant below $80 million one year ahead of schedule.

Lockheed Martin program general manager Greg Ulmer touted the company’s cost savings in the most recent contract, which he chalked up to “smart acquisition strategies and a relentless focus on cost reduction.”

“Beating our long-stated goal and delivering an F-35A below $80 million … is a testament to our joint government and industry team ― and we look forward to working with the Joint Program Office to finalize the agreement,” Ulmer wrote in an email.

Both Lockheed and the Defense Department are trying to address decades of criticism from congressional hawks and doves alike, who have characterized the F-35 program as too costly.

Almost since its inception, the F-35 has been a lighting rod for criticism around wasteful defense spending. And it has been a financial bedrock for Lockheed, propelling the Bethesda-based manufacturer to a dominant position atop the defense contracting hierarchy.

Proponents argue that the plane’s stealthiness, advanced sensors, targeting capabilities and extended flying range would make it an important asset in a war against a so-called “near-peer” competitor such as Russia or China.

But it is also the single most expensive military program in U.S. history by a wide margin, leading some to worry it will starve the Pentagon of resources it needs for other missions. The late senator John McCain called the F-35 a “poster child for acquisition malpractice” a “scandal” and a “tragedy” at different points during his tenure as Senate Armed Services Committee chairman.

President Trump also took an interest in the plane early in his presidency when he criticized its “tremendous cost and cost overruns,” and asked the Pentagon to consider buying one of Boeing’s F-18 jets instead. In early 2017, the Pentagon awarded Lockheed a contract that shaved roughly $728 million in costs ― an amount roughly equivalent to cost reductions already in place during the Obama administration.

Even Patrick Shanahan, a former Boeing executive who is the acting defense secretary, has criticized the plane.

“The F-35, unequivocally, I can say, has a lot of opportunity for more performance,” Shanahan said in response to questions about whether he is biased toward his former employer.

Teal Group aerospace analyst Richard Aboulafia said the contract announced Tuesday draws attention to the sheer size of the program. The agreement means Lockheed Martin will benefit from years of taxpayer-funded military contracts, and will be able to confidently plan for the future.

“With contracts you recognize the sheer enormity of the [F-35] program,” Aboulafia said. “We could still see four or five more of these [multiyear production] contracts.”

https://www.washingtonpost.com/business/2019/06/11/pentagon-lockheed-martin-reach-tentative-billion-deal-hundreds-f-fighter-jets/?noredirect=on&utm_term=.ae8a8f28df8e

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The Pronk Pops Show 1241, April 18, 2019, Story 1: Replacing All Federal Taxes With A Single Broad Based Consumption Tax of 20% With A $1000 Per Month or $12,000 Per Year Tax Rebate For Every Adult American Citizen Age 18 and Above Making Tax Progressive — Fair Tax Less — Videos

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Pronk Pops Show 1236 April 9, 201

Pronk Pops Show 1235 April 8, 2019

Pronk Pops Show 1234 April 5, 2019

Pronk Pops Show 1233 April 4, 2019

Pronk Pops Show 1232 April 1, 2019 Part 2

Pronk Pops Show 1232 March 29, 2019 Part 1

Pronk Pops Show 1231 March 28, 2019

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Pronk Pops Show 1192 January 8, 2019

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Story 1: Replacing All Federal Taxes With A Single Broad Based Progressive Consumption Tax of 20% With A $1000 Per Month or $12,000 Per Year Tax Prebate For Every Adult American Citizen Age 18 and Above — Fair Tax Less — Videos

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FairTax

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The FairTax is a proposal to reform the federal tax code of the United States. It would replace all federal income taxes (including the alternative minimum taxcorporate income taxes, and capital gains taxes), payroll taxes(including Social Security and Medicare taxes), gift taxes, and estate taxes with a single broad national consumption tax on retail sales. The Fair Tax Act (H.R. 25/S. 18) would apply a tax, once, at the point of purchase on all new goods and services for personal consumption. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or “prebate”, of tax on purchases up to the poverty level.[1][2] First introduced into the United States Congress in 1999, a number of congressional committees have heard testimony on the bill; however, it has not moved from committee and has yet to have any effect on the tax system. In recent years, a tax reform movement has formed behind the FairTax proposal.[3] Attention increased after talk radio personality Neal Boortz and Georgia Congressman John Linder published The FairTax Book in 2005 and additional visibility was gained in the 2008 presidential campaign.

As defined in the proposed legislation, the tax rate is 23% for the first year. This percentage is based on the total amount paid including the tax ($23 out of every $100 spent in total). This would be equivalent to a 30% traditional U.S. sales tax ($23 on top of every $77 spent—$100 total).[4] The rate would automatically adjust annually based on federal receipts in the previous fiscal year.[5] With the rebate taken into consideration, the FairTax would be progressive on consumption,[2] but would also be regressive on income at higher income levels (as consumption falls as a percentage of income).[6][7] Opponents argue this would accordingly decrease the tax burdenon high-income earners and increase it on the middle class.[4][8] Supporters contend that the plan would effectively tax wealth, increase purchasing power[9][10] and decrease tax burdens by broadening the tax base.

The plan’s supporters state that a consumption tax would increase savings and investment, ease tax compliance and increase economic growth, increase incentives for international business to locate in the US and increase US competitiveness in international trade.[11][12][13] The plan is intended to increase cost transparency for funding the federal government. Supporters believe it would increase civil liberties, benefit the environment and effectively tax illegal activity and undocumented immigrants.[11][14] Opponents contend that a consumption tax of this size would be extremely difficult to collect, and would lead to pervasive tax evasion.[4][6] They also argue that the proposed sales tax rate would raise less revenue than the current tax system, leading to an increased budget deficit.[4][15] Other concerns include the proposed repeal of the Sixteenth Amendment, removal of tax deduction incentives, transition effects on after-tax savings, incentives on credit use and the loss of tax advantages to state and local bonds.