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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The Pronk Pops Show Podcasts

Pronk Pops Show 1278 June 20, 2019 

Pronk Pops Show 1277 June 19, 2019

Pronk Pops Show 1276 June 18, 2019

Pronk Pops Show 1275 June 17, 2019

Pronk Pops Show 1274 June 13, 2019

Pronk Pops Show 1273 June 12, 2019

Pronk Pops Show 1272 June 11, 2019

Pronk Pops Show 1271 June 10, 2019

Pronk Pops Show 1270 June 6, 2019

Pronk Pops Show 1269 June 5, 2019

Pronk Pops Show 1268 June 3, 2019

Pronk Pops Show 1267 May 30, 2019

Pronk Pops Show 1266 May 29, 2019

Pronk Pops Show 1265 May 28, 2019

Pronk Pops Show 1264 May 24, 2019

Pronk Pops Show 1263 May 23, 2019

Pronk Pops Show 1262 May 22, 2019

Pronk Pops Show 1261 May 21, 2019

Pronk Pops Show 1260 May 20, 2019

Pronk Pops Show 1259 May 16, 2019

Pronk Pops Show 1258 May 15, 2019

Pronk Pops Show 1257 May 14, 2019

Pronk Pops Show 1256 May 13, 2019

Pronk Pops Show 1255 May 10, 2019

Pronk Pops Show 1254 May 9, 2019

Pronk Pops Show 1253 May 8, 2019

Pronk Pops Show 1252 May 7, 2019

Pronk Pops Show 1251 May 6, 2019

Pronk Pops Show 1250 May 3, 2019

Pronk Pops Show 1249 May 2, 2019

Pronk Pops Show 1248 May 1, 2019

Pronk Pops Show 1247 April 30, 2019

Pronk Pops Show 1246 April 29, 2019

Pronk Pops Show 1245 April 26, 2019

Pronk Pops Show 1244 April 25, 2019

Pronk Pops Show 1243 April 24, 2019

Pronk Pops Show 1242 April 23, 2019

Pronk Pops Show 1241 April 18, 2019

Pronk Pops Show 1240 April 16, 2019

Pronk Pops Show 1239 April 15, 2019

Pronk Pops Show 1238 April 11, 2019

Pronk Pops Show 1237 April 10, 2019

Pronk Pops Show 1236 April 9, 2019

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

Pronk Pops Show 1230 March 27, 2019

Pronk Pops Show 1229 March 26, 2019

Pronk Pops Show 1228 March 25, 2019

Pronk Pops Show 1227 March 21, 2019

Pronk Pops Show 1226 March 20, 2019

Pronk Pops Show 1225 March 19, 2019

Pronk Pops Show 1224 March 18, 2019

Pronk Pops Show 1223 March 8, 2019

Pronk Pops Show 1222 March 7, 2019

Pronk Pops Show 1221 March 6, 2019

Pronk Pops Show 1220 March 5, 2019

Pronk Pops Show 1219 March 4, 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

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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

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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 1168, November 2, 2018, Story 1: Jobs Report — U.S. Economy Added 250,000 Jobs — Real Wages Up 3.1% and Capital Spending Growth — Civilian Labor Participation Rate Up .2% Going in Right Direction — Getting Better– All The Time — Videos — Story 2: Federal Reserve Will Be Increasing Fed Funds Target Rate by .25% In December 2018 — No Real Surprise — Videos — Story 3: President Trump’s Job Approval Rising — Hits 51% — Top Three Concerns of American People — The Economy, Illegal Immigration and Obamacare — Videos

Posted on November 4, 2018. Filed under: Addiction, American History, Banking System, Barack H. Obama, Bill Clinton, Blogroll, Books, Breaking News, Budgetary Policy, Business, College, Congress, Corruption, Countries, Deep State, Defense Spending, Donald J. Trump, Donald J. Trump, Donald J. Trump, Donald Trump, Eating, Economics, Education, Elections, Empires, Employment, Federal Government, First Amendment, Fiscal Policy, Foreign Policy, Former President Barack Obama, Free Trade, Freedom of Speech, Government, Government Dependency, Government Spending, Health, Health Care, Health Care Insurance, History, House of Representatives, Housing, Human, Human Behavior, Illegal Immigration, Immigration, Independence, Insurance, Investments, Labor Economics, Language, Law, Legal Immigration, Life, Lying, Media, Medicare, Monetary Policy, National Interest, Networking, News, Obama, Obesity, Overweight, People, Philosophy, Photos, Politics, Polls, President Trump, Progressives, Public Corruption, Public Relations, Radio, Raymond Thomas Pronk, Regulation, Rule of Law, Scandals, Security, Senate, Social Security, Spying, Success, Supplemental Nutrition Assistance Program (SNAP_, Surveillance and Spying On American People, Tax Policy, Taxation, Taxes, Terrorism, Trade Policy, Trump Surveillance/Spying, Unemployment, United States Constitution, United States of America, Videos, Violence, War, Wealth, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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Story 1: November 2018 Jobs Report — U.S. Economy Added 250,000 Jobs With 3.7% U-3 Unemployment Rate  — Real Wages Up 3.1% and Capital Spending Growth — Civilian Labor Participation Rate Up .2% Going in Right Direction Up! — Getting Better– All The Time — Videos 

The Beatles – Getting Better

Getting Better
It’s getting better all the time
I used to get mad at my school (No, I can’t complain)
The teachers who taught me weren’t cool (No, I can’t complain)
You’re holding me down
Turning me round
Filling me up with your rules
I’ve got to admit it’s getting better (Better)
A little better all the time (It can’t get no worse)
I have to admit it’s getting better (Better)
It’s getting better
Since you’ve been mine
Me used to be angry young man
Me hiding me head in the sand
You gave me the word, I finally heard
I’m doing the best that I can
I’ve got to admit it’s getting better (Better)
A little better all the time (It can’t get no worse)
I have to admit it’s getting better (Better)
It’s getting better
Since you’ve been mine
Getting so much better all the time!
It’s getting better all the time
Better, better, better
It’s getting better all the time
Better, better, better
I used to be cruel to my woman
I beat her and kept her apart from the things that she loved
Man, I was mean but I’m changing my scene
And I’m doing the best that I can (ooh)
I admit it’s getting better (Better)
A little better all the time (It can’t get no worse)
Yes, I admit it’s getting better (Better)
It’s getting better
Since you’ve been mine
Getting so much better all the time!
It’s getting better all the time
Better, better, better
It’s getting better all the time
Better, better, better
Getting so much better all the time!
Songwriters: John Lennon / Paul McCartney
Getting Better lyrics © Sony/ATV Music Publishing LLC

Trump celebrates strong jobs report at rally

Job growth powers ahead

Economy adds 250K jobs in October

Santelli Exchange: Lazear on the jobs report

Jim Cramer on October jobs report: We have to move fast

CEA’s Hassett on China Trade, Jobs Report, Debt and Deficit

What does October’s banner jobs report tell us about where the economy is headed?

A Deep Dive Into the U.S. October Jobs Report

How Wall Street Views the October Jobs Report

What the markets want from the jobs report

What Is 3%? Jim Cramer on the Jobs Report

Alan Greenspan: Tightest labor market I’ve ever seen

Greenspan: We are in uncharted territory

Alan Greenspan: We have to deal with entitlements

Greenspan: The financial community doesn’t care about bookkeeping, they’re going to confront inflation

Defining the Unemployment Rate

Is Unemployment Undercounted?

Labor Force Participation

Cyclical Unemployment

Frictional Unemployment

Structural Unemployment

Monetary Policy and the Federal Reserve

Monetary Policy: The Best Case Scenario

Milton Friedman: Inflation vs Unemployment

Milton Friedman – Stimulus and Inflation

Milton Friedman – Money and Inflation (Q&A)

Responsibility to the Poor

Milton Friedman: There’s No Such Thing as a Free Lunch

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

156,562,000: Record Employment for 12th Time Under Trump

By Susan Jones | November 2, 2018 | 8:41 AM EDT

A sign of the times in an Illinois shop window. (Photo by Tim Boyle/Getty Images)

(CNSNews.com) – The economy is the second most important issue for registered voters as the midterm election nears, a new Gallup Poll says. And there was very good economic news on Friday, as the Labor Department’s Bureau of Labor Statistics rolled out the October employment report — the final one before next week’s midterm election.

The number of employed Americans has never been higher. The 156,562,000 Americans employed in October is the twefth record set under President Donald Trump.

In October, the number of employed men age 20 and up — 80,405,000 — set the 12th record since Trump took office; and likewise, for the 12th time, the number of employed women age 20 and up set a record, reaching 70,909,000 in October.

The unemployment rate held at 3.7 percent, the same as September, which is the lowest it’s been in decades — since the end of 1969. And the Hispanic unemployment rate, 4.4 percent, has never been lower.

The unemployment rate for African-Americans, 6.2 percent, remained near the all-time low of 5.9 percent set in May.

On top of those numbers, the economy added a whopping 250,000 jobs last month. After revisions, job gains have averaged 218,000 over the past 3 months.

(“Wow!” Trump tweeted on Friday morning. “The U.S. added 250,000 Jobs in October – and this was despite the hurricanes. Unemployment at 3.7%. Wages UP! These are incredible numbers. Keep it going, Vote Republican!”)

The number of Americans not in the labor force dipped to 95.8 million, down from last month’s record high; and the labor force participation rate increased two-tenths of a point to 62.9 percent, a move in the right direction.

Among the major worker groups, the unemployment rates for adult men (3.5 percent), adult women (3.4 percent), teenagers (11.9 percent), Whites (3.3 percent), Blacks (6.2 percent), and Asians (3.2 percent) showed little or no change in October.

In October, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $27.30. Over the year, average hourly earnings have increased by 83 cents, or 3.1 percent.

In October, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 258,514,000. Of those, 162,637,000 participated in the labor force by either holding a job or actively seeking one.

The 162,637,000 who participated in the labor force equaled 62.9 percent of the 258,514,000 civilian noninstitutionalized population, the same as August.

The higher the participation rate, the better, but economists expect this percentage to remain stagnant and decline in the years ahead as an increasing number of baby boomers retire.

President Trump highlghted the booming economy at his rally in Missouri yesterday, telling voters that next week’s election “will decide whether we build on an extraordinary prosperity,” or whether Democrats “will wipe it all away.”

“The unemployment rate just fell to the lowest level in over 50 years,” the president said. “More Americans are working now than any time in history. Think of that…So today, right now, we have more Americans working than at any time, any time in the history of our country. That’s pretty good,” he said. “That’s pretty good!”

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Alternate Unemployment Charts

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.

 

Public Commentary on Unemployment

Unemployment Data Series   subcription required(Subscription required.)  View  Download Excel CSV File   Last Updated: November 2nd, 2018

The ShadowStats Alternate Unemployment Rate for October 2018 is 21.2%.

Republishing our charts:  Permission, Restrictions and Instructions (includes important requirements for successful hot-linking)

http://www.shadowstats.com/alternate_data/unemployment-charts

Labor Force Statistics from the Current Population Survey

Civilian Labor Force Level

162,637,000

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

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154063(1) 153653 153908 153769 154303 154313 154469 154641 154570 154876 154639 154655
2009 154210(1) 154538 154133 154509 154747 154716 154502 154307 153827 153784 153878 153111
2010 153484(1) 153694 153954 154622 154091 153616 153691 154086 153975 153635 154125 153650
2011 153263(1) 153214 153376 153543 153479 153346 153288 153760 154131 153961 154128 153995
2012 154381(1) 154671 154749 154545 154866 155083 154948 154763 155160 155554 155338 155628
2013 155763(1) 155312 155005 155394 155536 155749 155599 155605 155687 154673 155265 155182
2014 155357(1) 155526 156108 155404 155564 155742 156011 156124 156019 156383 156455 156301
2015 157063(1) 156734 156754 157051 157449 157071 157035 157132 156700 157138 157435 158043
2016 158387(1) 158811 159253 158919 158512 158976 159207 159514 159734 159700 159544 159736
2017 159718(1) 159997 160235 160181 159729 160214 160467 160598 161082 160371 160533 160597
2018 161115(1) 161921 161763 161527 161539 162140 162245 161776 161926 162637
1 : Data affected by changes in population controls.

Labor Force Participation Rate

62.9%




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

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.1 64.2 64.2 64.1 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.8 63.8 63.7 63.7 63.8 63.7 63.5 63.6 63.8 63.6 63.7
2013 63.7 63.4 63.3 63.4 63.4 63.4 63.3 63.3 63.2 62.8 63.0 62.9
2014 62.9 62.9 63.1 62.8 62.8 62.8 62.9 62.9 62.8 62.9 62.9 62.8
2015 62.9 62.7 62.7 62.8 62.9 62.7 62.6 62.6 62.3 62.5 62.5 62.7
2016 62.8 62.9 63.0 62.8 62.6 62.7 62.8 62.8 62.9 62.8 62.7 62.7
2017 62.9 62.9 63.0 62.9 62.7 62.8 62.9 62.9 63.0 62.7 62.7 62.7
2018 62.7 63.0 62.9 62.8 62.7 62.9 62.9 62.7 62.7 62.9

Unemployment Level

6,075,000

 

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

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7685 7497 7822 7637 8395 8575 8937 9438 9494 10074 10538 11286
2009 12058 12898 13426 13853 14499 14707 14601 14814 15009 15352 15219 15098
2010 15046 15113 15202 15325 14849 14474 14512 14648 14579 14516 15081 14348
2011 14013 13820 13737 13957 13855 13962 13763 13818 13948 13594 13302 13093
2012 12797 12813 12713 12646 12660 12692 12656 12471 12115 12124 12005 12298
2013 12471 11950 11689 11760 11654 11751 11335 11279 11270 11136 10787 10404
2014 10235 10365 10435 9724 9740 9474 9610 9602 9266 8972 9064 8704
2015 8951 8634 8578 8546 8662 8265 8206 7996 7891 7884 7948 7907
2016 7811 7806 8024 7942 7465 7812 7723 7827 7919 7761 7419 7502
2017 7642 7486 7171 7021 6837 6964 6956 7127 6759 6524 6616 6576
2018 6684 6706 6585 6346 6065 6564 6280 6234 5964 6075

Not in Labor Force

95,877,000

 

Series Id:           LNS15000000
Seasonally Adjusted
Series title:        (Seas) Not in Labor Force
Labor force status:  Not in labor force
Type of data:        Number in thousands
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 69142 69120 69338 69267 69853 69876 70398 70401 70645 70782 70579 70488
2001 70088 70409 70381 70956 71414 71592 71526 72136 71676 71817 71876 72010
2002 72623 72010 72343 72281 72260 72600 72827 72856 72554 73026 73508 73675
2003 73960 74015 74295 74066 74268 73958 74767 75062 75249 75324 75280 75780
2004 75319 75648 75606 75907 75903 75735 75730 76113 76526 76399 76259 76581
2005 76808 76677 76846 76514 76409 76673 76721 76642 76739 76958 77138 77394
2006 77339 77122 77161 77318 77359 77317 77535 77451 77757 77634 77499 77376
2007 77506 77851 77982 78818 78810 78671 78904 79461 79047 79532 79105 79238
2008 78554 79156 79087 79429 79102 79314 79395 79466 79790 79736 80189 80380
2009 80529 80374 80953 80762 80705 80938 81367 81780 82495 82766 82865 83813
2010 83349 83304 83206 82707 83409 84075 84199 84014 84347 84895 84590 85240
2011 85441 85637 85623 85603 85834 86144 86383 86111 85940 86308 86312 86589
2012 87888 87765 87855 88239 88100 88073 88405 88803 88613 88429 88836 88722
2013 88900 89516 89990 89780 89827 89803 90156 90355 90481 91708 91302 91563
2014 91557 91559 91150 92036 92058 92072 92012 92105 92428 92274 92390 92726
2015 92660 93165 93326 93214 93006 93592 93841 93963 94625 94403 94312 93893
2016 94010 93766 93515 94049 94662 94421 94413 94340 94357 94621 94996 95006
2017 94364 94248 94179 94407 95038 94743 94684 94759 94480 95395 95416 95512
2018 95665 95012 95335 95745 95915 95502 95598 96290 96364 95877

U-3 Unemployment Rate

3.7%

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

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.8 9.8 9.9 9.9 9.6 9.4 9.4 9.5 9.5 9.4 9.8 9.3
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.3 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.7 7.9
2013 8.0 7.7 7.5 7.6 7.5 7.5 7.3 7.2 7.2 7.2 6.9 6.7
2014 6.6 6.7 6.7 6.3 6.3 6.1 6.2 6.2 5.9 5.7 5.8 5.6
2015 5.7 5.5 5.5 5.4 5.5 5.3 5.2 5.1 5.0 5.0 5.0 5.0
2016 4.9 4.9 5.0 5.0 4.7 4.9 4.9 4.9 5.0 4.9 4.6 4.7
2017 4.8 4.7 4.5 4.4 4.3 4.3 4.3 4.4 4.2 4.1 4.1 4.1
2018 4.1 4.1 4.1 3.9 3.8 4.0 3.9 3.9 3.7 3.7

 U-6 Unemployment Rate

7.4 %

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

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.1 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.2 16.0 15.9 16.1 15.8 16.1 15.9 16.1 16.4 15.8 15.5 15.2
2012 15.2 15.0 14.5 14.6 14.7 14.8 14.8 14.6 14.8 14.4 14.4 14.4
2013 14.6 14.4 13.8 14.0 13.8 14.2 13.8 13.6 13.5 13.6 13.1 13.1
2014 12.7 12.7 12.7 12.3 12.1 12.0 12.1 11.9 11.7 11.5 11.4 11.2
2015 11.3 11.0 10.9 10.9 10.8 10.4 10.3 10.2 10.0 9.8 9.9 9.9
2016 9.9 9.7 9.8 9.8 9.8 9.5 9.7 9.6 9.7 9.6 9.3 9.1
2017 9.4 9.2 8.8 8.6 8.4 8.5 8.5 8.6 8.3 8.0 8.0 8.1
2018 8.2 8.2 8.0 7.8 7.6 7.8 7.5 7.4 7.5 7.4

Employment Situation Summary

Transmission of material in this news release is embargoed until            USDL-18-1739
8:30 a.m. (EDT) Friday, November 2, 2018

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

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


                        THE EMPLOYMENT SITUATION -- OCTOBER 2018


Total nonfarm payroll employment rose by 250,000 in October, and the unemployment rate
was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job
gains occurred in health care, in manufacturing, in construction, and in transportation
and warehousing.

   __________________________________________________________________________________
  |                                                                                  |
  |                               Hurricane Michael                                  |
  |                                                                                  |
  | Hurricane Michael made landfall in the Florida Panhandle on October 10, 2018,    |
  | during the reference periods for both the establishment and household surveys.   |
  | Hurricane Michael had no discernible effect on the national employment and       |
  | unemployment estimates for October, and response rates for the two surveys were  |
  | within normal ranges. For information on how severe weather can affect employment|
  | and hours data, see Question 8 in the Frequently Asked Questions section of this |
  | news release.                                                                    |
  |                                                                                  |
  | BLS will release the state estimates of employment and unemployment on           |
  | November 16, 2018, at 10:00 a.m. (EST).                                          |
  |__________________________________________________________________________________|


Household Survey Data

The unemployment rate remained at 3.7 percent in October, and the number of unemployed
persons was little changed at 6.1 million. Over the year, the unemployment rate and
the number of unemployed persons declined by 0.4 percentage point and 449,000,
respectively. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (3.5 percent),
adult women (3.4 percent), teenagers (11.9 percent), Whites (3.3 percent), Blacks
(6.2 percent), Asians (3.2 percent), and Hispanics (4.4 percent) showed little or no
change in October. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially
unchanged at 1.4 million in October and accounted for 22.5 percent of the unemployed.
(See table A-12.)

The labor force participation rate increased by 0.2 percentage point to 62.9 percent in
October but has shown little change over the year. The employment-population ratio
edged up by 0.2 percentage point to 60.6 percent in October and has increased by 0.4
percentage point over the year. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers) was essentially unchanged at 4.6 million in October.
These individuals, who would have preferred full-time employment, were working part
time because their hours had been reduced or they were unable to find full-time jobs.
(See table A-8.)

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

Among the marginally attached, there were 506,000 discouraged workers in October, about
unchanged from a year earlier. (Data are not seasonally adjusted.) Discouraged workers
are persons not currently looking for work because they believe no jobs are available
for them. The remaining 984,000 persons marginally attached to the labor force in
October had not searched for work for reasons such as school attendance or family
responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 250,000 in October, following an average
monthly gain of 211,000 over the prior 12 months. In October, job growth occurred in
health care, in manufacturing, in construction, and in transportation and warehousing.
(See table B-1.)

Health care added 36,000 jobs in October. Within the industry, employment growth
occurred in hospitals (+13,000) and in nursing and residential care facilities
(+8,000). Employment in ambulatory health care services continued to trend up
(+14,000). Over the past 12 months, health care employment grew by 323,000.

In October, employment in manufacturing increased by 32,000. Most of the increase
occurred in durable goods manufacturing, with a gain in transportation equipment
(+10,000). Manufacturing has added 296,000 jobs over the year, largely in durable
goods industries.

Construction employment rose by 30,000 in October, with nearly half of the gain
occurring among residential specialty trade contractors (+14,000). Over the year,
construction has added 330,000 jobs.

Transportation and warehousing added 25,000 jobs in October. Within the industry,
employment growth occurred in couriers and messengers (+8,000) and in warehousing
and storage (+8,000). Over the year, employment in transportation and warehousing
has increased by 184,000.

Employment in leisure and hospitality edged up in October (+42,000). Employment was
unchanged in September, likely reflecting the impact of Hurricane Florence. The
average gain for the 2 months combined (+21,000) was the same as the average monthly
gain in the industry for the 12-month period prior to September.

In October, employment in professional and business services continued to trend up
(+35,000). Over the year, the industry has added 516,000 jobs.

Employment in mining also continued to trend up over the month (+5,000). The industry
has added 65,000 jobs over the year, with most of the gain in support activities for
mining.

Employment in other major industries--including wholesale trade, retail trade,
information, financial activities, and government--showed little change over the
month.

The average workweek for all employees on private nonfarm payrolls increased by 0.1
hour to 34.5 hours in October. In manufacturing, the workweek edged down by 0.1 hour
to 40.8 hours, and overtime was unchanged at 3.5 hours. The average workweek for
production and nonsupervisory employees on private nonfarm payrolls, at 33.7 hours,
was unchanged over the month. (See tables B-2 and B-7.)

In October, average hourly earnings for all employees on private nonfarm payrolls
rose by 5 cents to $27.30. Over the year, average hourly earnings have increased by
83 cents, or 3.1 percent. Average hourly earnings of private-sector production and
nonsupervisory employees increased by 7 cents to $22.89 in October. (See tables B-3
and B-8.)

The change in total nonfarm payroll employment for September was revised down from
+134,000 to +118,000, and the change for August was revised up from +270,000 to
+286,000. The downward revision in September offset the upward revision in August.
(Monthly revisions result from additional reports received from businesses and
government agencies since the last published estimates and from the recalculation
of seasonal factors.) After revisions, job gains have averaged 218,000 over the
past 3 months.

_____________
The Employment Situation for November is scheduled to be released on Friday,
December 7, 2018, at 8:30 a.m. (EST).



The PDF version of the news release

News release charts

Supplemental Files Table of Contents

Table of Contents

Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted
[Numbers in thousands]
Category Oct.
2017
Aug.
2018
Sept.
2018
Oct.
2018
Change from:
Sept.
2018-
Oct.
2018

Employment status

Civilian noninstitutional population

255,766 258,066 258,290 258,514 224

Civilian labor force

160,371 161,776 161,926 162,637 711

Participation rate

62.7 62.7 62.7 62.9 0.2

Employed

153,846 155,542 155,962 156,562 600

Employment-population ratio

60.2 60.3 60.4 60.6 0.2

Unemployed

6,524 6,234 5,964 6,075 111

Unemployment rate

4.1 3.9 3.7 3.7 0.0

Not in labor force

95,395 96,290 96,364 95,877 -487

Unemployment rates

Total, 16 years and over

4.1 3.9 3.7 3.7 0.0

Adult men (20 years and over)

3.8 3.5 3.4 3.5 0.1

Adult women (20 years and over)

3.6 3.6 3.3 3.4 0.1

Teenagers (16 to 19 years)

13.7 12.8 12.8 11.9 -0.9

White

3.5 3.4 3.3 3.3 0.0

Black or African American

7.3 6.3 6.0 6.2 0.2

Asian

3.0 3.0 3.5 3.2 -0.3

Hispanic or Latino ethnicity

4.8 4.7 4.5 4.4 -0.1

Total, 25 years and over

3.3 3.2 3.0 3.1 0.1

Less than a high school diploma

6.1 5.7 5.5 6.0 0.5

High school graduates, no college

4.3 3.9 3.7 4.0 0.3

Some college or associate degree

3.6 3.5 3.2 3.0 -0.2

Bachelor’s degree and higher

2.0 2.1 2.0 2.0 0.0

Reason for unemployment

Job losers and persons who completed temporary jobs

3,214 2,875 2,796 2,850 54

Job leavers

731 862 730 726 -4

Reentrants

2,001 1,846 1,877 1,906 29

New entrants

626 584 586 606 20

Duration of unemployment

Less than 5 weeks

2,128 2,208 2,065 2,057 -8

5 to 14 weeks

1,943 1,720 1,720 1,821 101

15 to 26 weeks

856 923 861 856 -5

27 weeks and over

1,645 1,332 1,384 1,373 -11

Employed persons at work part time

Part time for economic reasons

4,880 4,379 4,642 4,621 -21

Slack work or business conditions

2,960 2,551 2,782 2,816 34

Could only find part-time work

1,615 1,365 1,447 1,436 -11

Part time for noneconomic reasons

20,897 21,781 21,464 21,512 48

Persons not in the labor force (not seasonally adjusted)

Marginally attached to the labor force

1,535 1,443 1,577 1,491

Discouraged workers

524 434 383 506

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

 

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Oct.
2017
Aug.
2018
Sept.
2018(P)
Oct.
2018(P)

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

Total nonfarm

271 286 118 250

Total private

277 267 121 246

Goods-producing

38 49 42 67

Mining and logging

1 7 4 5

Construction

17 31 20 30

Manufacturing

20 11 18 32

Durable goods(1)

10 11 14 21

Motor vehicles and parts

-1.6 2.7 1.0 6.8

Nondurable goods

10 0 4 11

Private service-providing

239 218 79 179

Wholesale trade

7.5 20.6 3.3 9.1

Retail trade

6.5 9.1 -32.4 2.4

Transportation and warehousing

13.7 23.1 20.8 24.8

Utilities

0.0 0.9 0.1 1.2

Information

0 -4 -4 7

Financial activities

9 9 15 7

Professional and business services(1)

60 54 46 35

Temporary help services

19.8 10.8 7.6 3.3

Education and health services(1)

15 67 26 44

Health care and social assistance

35.7 52.5 34.9 46.7

Leisure and hospitality

110 30 0 42

Other services

17 8 4 7

Government

-6 19 -3 4

(3-month average change, in thousands)

Total nonfarm

169 220 190 218

Total private

167 199 175 211

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

Total nonfarm women employees

49.5 49.7 49.7 49.7

Total private women employees

48.1 48.3 48.3 48.3

Total private production and nonsupervisory employees

82.4 82.4 82.4 82.4

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.4 34.5 34.4 34.5

Average hourly earnings

$26.47 $27.17 $27.25 $27.30

Average weekly earnings

$910.57 $937.37 $937.40 $941.85

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

107.8 110.0 109.7 110.3

Over-the-month percent change

0.5 0.3 -0.3 0.5

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

136.5 142.8 143.0 143.9

Over-the-month percent change

0.4 0.6 0.1 0.6

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

Total private (258 industries)

63.2 64.5 60.7 65.7

Manufacturing (76 industries)

63.8 56.6 65.1 62.5

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

NOTE: Data have been revised to reflect March 2017 benchmark levels and updated seasonal adjustment factors.

The Beatles – Hey Jude

Hey Jude
Hey Jude, don’t make it bad
Take a sad song and make it better
Remember to let her into your heart
Then you can start to make it better
Hey Jude, don’t be afraid
You were made to go out and get her
The minute you let her under your skin
Then you begin to make it better
And anytime you feel the pain, hey Jude, refrain
Don’t carry the world upon your shoulders
For well you know that it’s a fool who plays it cool
By making his world a little colder
Nah nah nah nah nah nah nah nah nah
Hey Jude, don’t let me down
You have found her, now go and get her
Remember to let her into your heart
Then you can start to make it better
So let it out and let it in, hey Jude, begin
You’re waiting for someone to perform with
And don’t you know that it’s just you, hey Jude, you’ll do
The movement you need is on your shoulder
Nah nah nah nah nah nah nah nah nah yeah
Hey Jude, don’t make it bad
Take a sad song and make it better
Remember to let her under your skin
Then you’ll begin to make it
Better better better better better better, oh
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Nah nah nah nah nah nah, nah nah nah, hey Jude
Songwriters: John Lennon / Paul McCartney
Hey Jude lyrics © Sony/ATV Music Publishing LLC

 

Getting Better

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“Getting Better”
Getting Better - The Beatles (sheet music).jpg

Original UK sheet music for the song
Song by the Beatles
from the album Sgt. Pepper’s Lonely Hearts Club Band
Released 26 May 1967[1]
Recorded 9 March 1967
Genre
Length 2:47
Label ParlophoneCapitolEMI
Songwriter(s) Lennon–McCartney
Producer(s) George Martin

Getting Better” is a song written mainly by Paul McCartney, with lyrical contributions from John Lennon (credited to Lennon–McCartney).[3] It was recorded by the Beatles for the 1967 album Sgt. Pepper’s Lonely Hearts Club Band.

Composition

The song, which has been said to be musically reminiscent of the hit single “Penny Lane,”[4] moves forward by way of regular chords, produced by Lennon’s guitar, McCartney’s electric piano,[verification needed] and George Martin, who struck the strings of a pianet with a mallet. These heavily accented and repetitive lines cause the song to sound as if it is based on a drone. Lead guitarist George Harrison adds an Indian tanpura part to the final verse, which further accentuates this impact.

McCartney’s bassline, in counterpoint to this droning, was described by music critic Ian MacDonald as “dreamy” and “well thought out as a part of the production by McCartney”.[5] It was recorded after the main track was completed, as were many of the bass lines on Sgt Pepper’s Lonely Hearts Club Band.[6] Starting out in the verse with a pedal on the root note (G) that leaps two octaves, McCartney moves to a marching quarter-note (walking) bass line for the first (and only the first) chorus. In stark contrast, all subsequent choruses are played using a fluid, swing feel, full of anticipated notes that propel the song forward despite the quarter-note droning of the guitar and keyboard.

The song’s title and music suggest optimism, but some of the song’s lyrics have a more negative tone. In this sense, it reflects the contrasting personas of the two songwriters. In response to McCartney’s line, “It’s getting better all the time”, Lennon replies, “Can’t get no worse!”[7] In a December 1983 interview, McCartney praised this contribution as an example of things he “couldn’t ever have done [him]self”.[8]

Referring to the lyric “I used to be cruel to my woman/I beat her and kept her apart from the things that she loved/Man I was mean but I’m changing my scene/And I’m doing the best that I can”, Lennon admitted that he had done things in relationships in the past that he was not proud of.[9]

In a 1980 interview in Playboy with John Lennon and Yoko Ono, Lennon, when asked about the song, said that the song’s lyrics came personally from his own experience abusing women in relationships in the past. He states: “It is a diary form of writing. All that ‘I used to be cruel to my woman / I beat her and kept her apart from the things that she loved’ was me. I used to be cruel to my woman, and physically—any woman. I was a hitter. I couldn’t express myself and I hit. I fought men and I hit women. That is why I am always on about peace, you see. It is the most violent people who go for love and peace. Everything’s the opposite. But I sincerely believe in love and peace. I am a violent man who has learned not to be violent and regrets his violence. I will have to be a lot older before I can face in public how I treated women as a youngster.”

According to the author Hunter Davies and music critic Ian MacDonald, the initial idea for the song’s title came from a phrase often spoken by Jimmie Nicol, the group’s stand-in drummer for the Australian leg of a 1964 tour.[3][5]

Lennon on the roof

One of the recording sessions for “Getting Better” is infamous for an incident involving Lennon. During the 21 March 1967 session in which producer George Martin added a piano solo to “Lovely Rita“, Lennon complained that he did not feel well and could not focus.[10][11]He had accidentally taken LSD when he meant to take an upper.[12] Unaware of the mistake, Martin took him up to the roof of Abbey Road Studios for some fresh air, and returned to Studio Two where McCartney and Harrison were waiting. They knew why Lennon was not well, and upon hearing where Lennon was, rushed to the roof to retrieve him and prevent a possible accident.[11][13][14]

Personnel

Personnel per Ian MacDonald[4]

Live performances

Paul McCartney performed the song live for the first time by any Beatle on his 2002 Driving World Tour. He later reprised the song on his 2003 Back in the World Tour.[citation needed]

Cover versions

Notes

  1. Jump up^ Everett 1999, p. 123. “In the United Kingdom Sgt. Pepper’s Lonely Hearts Club Band…was rush-released six days ahead of its official date, June 1.”
  2. Jump up^ Unterberger 2009.
  3. Jump up to:a b Miles 1997, pp. 312–313.
  4. Jump up to:a b MacDonald 2005, p. 241.
  5. Jump up to:a b MacDonald 2005, p. 200.
  6. Jump up^ MacDonald 2005.
  7. Jump up^ Miles 1997, p. 314.
  8. Jump up^ “December 1983 interview”. Retrieved July 13, 2016.
  9. Jump up^http://www.recmusicbeatles.com/public/files/bbs/jl_yo.playboy/lennon4.html
  10. Jump up^ Spitz 2005, pp. 670–671.
  11. Jump up to:a b Lewisohn 1988, p. 104.
  12. Jump up^ Miles 1997, p. 382.
  13. Jump up^ The Beatles 2000, p. 242.
  14. Jump up^ Emerick & Massey 2006, p. 172–173.
  15. Jump up^ http://www.beatlesebooks.com/getting-better

References

External links

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

 

Story 2: Federal Reserve Will Be Increasing Fed Funds Target Rate by .25% In December 2018 — No Real Surprise — Videos

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Story 3: President Trump’s Job Approval Rising — Hits 51% — Top Three Concerns of American People — The Economy, Illegal Immigration and Obamacare — Videos

Daily Presidential Tracking Poll

The Rasmussen Reports daily Presidential Tracking Poll for Friday shows that 51% of Likely U.S. Voters approve of President Trump’s job performance. Forty-seven percent (47%) disapprove.

The latest figures include 37% who Strongly Approve of the president is performing and 40% who Strongly Disapprove. This gives him a Presidential Approval Index rating of -3. (See trends)

Regular updates are posted Monday through Friday at 9:30 a.m. Eastern (sign up for free daily email update).

Now that Gallup has quit the field, Rasmussen Reports is the only nationally recognized public opinion firm that still tracks President Trump’s job approval ratings on a daily basis. If your organization is interested in a weekly or longer sponsorship of Rasmussen Reports’ Daily Presidential Tracking Poll,  please send e-mail to beth@rasmussenreports.com  .

With early voting in full swing and Election Day approaching, we asked voters if they’re more likely or less likely to tell people how they are voting. Trump voters held back in 2016, and that unmeasured margin fooled most pollsters, not Rasmussen Reports  Find out at 10:30 if that silent vote is still out there.

 

Seventy-seven percent (77%) of Republicans say they always vote in midterm elections, as do 71% of Democrats and 63% of voters not affiliated with either major political party. The real story on Tuesday will be which side turns out even more than usual.

Look for Rasmussen Reports’ final Generic Congressional Ballot on Monday morning. Democrats now hold a three-point lead on the survey which has a +/- 2 margin of error.

President Trump is sending troops to the southern border to stop thousands of Central Americans now in Mexico from entering the United States illegally. Voters tend to agree with the president’s decision, but as is frequently the case on issues related to illegal immigration, there’s a sharp difference of opinion between Democrats and Republicans.

Illegal immigration is the most important voting issue in the upcoming elections for 22% of Republicans, 15% of unaffiliated voters and eight percent (8%) of Democrats.

 

20-Jan-1711-Apr-1729-Jun-1719-Sep-1711-Dec-1706-Mar-1824-May-1815-Aug-1802-Nov-180%10%20%30%40%50%60%70%80%www.RasmussenReports.comTotal Approve (Trump)Total Approve (Obama)

Sixty-one percent (61%) of Americans favor the death penalty, and among these adults, 68% think it needs to be carried out in a more timely fashion rather than delayed for all possible legal appeals.

Following last weekend’s massacre at a synagogue in Pittsburgh, Americans continue to worry that media overcoverage of horrific events like this inspires copycats.

Democrats (51%) are much more likely than Republicans (13%) and those not affiliated with either major party (25%) to blame the availability of guns for mass shootings more than the person who pulls the trigger.

-320-Jan-1711-Apr-1729-Jun-1719-Sep-1711-Dec-1706-Mar-1824-May-1815-Aug-1802-Nov-1810%20%30%40%50%60%www.RasmussenReports.comStrongly DisapproveStrongly Approve

Some readers wonder how we come up with our job approval ratings for the president since they often don’t show as dramatic a change as some other pollsters do. It depends on how you ask the question and whom you ask.

To get a sense of longer-term job approval trends for the president, Rasmussen Reports compiles our tracking data on a full month-by-month basis.

Rasmussen Reports has been a pioneer in the use of automated telephone polling techniques, but many other firms still utilize their own operator-assisted technology (see methodology).

Daily tracking results are collected via telephone surveys of 500 likely voters per night and reported on a three-day rolling average basis. To reach those who have abandoned traditional landline telephones, Rasmussen Reports uses an online survey tool to interview randomly selected participants from a demographically diverse panel. The margin of sampling error for the full sample of 1,500 Likely Voters is +/- 2.5 percentage points with a 95% level of confidence. Results are also compiled on a full-week basis and crosstabs for full-week results are available for Platinum Members.

Rasmussen Reports is a media company specializing in the collection, publication and distribution of public opinion information.

We conduct public opinion polls on a variety of topics to inform our audience on events in the news and other topics of interest. To ensure editorial control and independence, we pay for the polls ourselves and generate revenue through the sale of subscriptions, sponsorships, and advertising. Nightly polling on politics, business and lifestyle topics provides the content to update the Rasmussen Reports web site many times each day. If it’s in the news, it’s in our polls. Additionally, the data drives a daily update newsletter and various media outlets across the country.

Some information, including the Rasmussen Reports daily Presidential Tracking Poll and commentariesare available for free to the general public. Subscriptions are available for $4.95 a month or 34.95 a year that provide subscribers with exclusive access to more than 20 stories per week on upcoming elections, consumer confidence, and issues that affect us all. For those who are really into the numbers, Platinum Members can review demographic crosstabs and a full history of our data.

http://www.rasmussenreports.com/public_content/politics/political_updates/prez_track_nov02

Trump, Economy Top Voter Concerns

Thursday, October 25, 2018

President Trump and the economy are the major concerns for voters going into the midterm congressional elections.

The latest Rasmussen Reports national telephone and online survey finds that 30% of Likely U.S. Voters view Trump as the most important issue to their vote in the upcoming elections. The economy is most important for 22%, followed by 15% who rank illegal immigration that way and 14% who say the same of Obamacare. (To see survey question wording, click here.)

Rasmussen Reports invites you to be a part of our first-ever Citizen-Sourced National Midterm Election Polling Project. Learn more about how you can contribute.

(Want a free daily email update? If it’s in the news, it’s in our polls). Rasmussen Reports updates are also available on Twitter or Facebook.

The survey of 1,000 Likely Voters was conducted on October 23-24, 2018 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.

http://www.rasmussenreports.com/public_content/politics/general_politics/october_2018/trump_economy_top_voter_concerns

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The Pronk Pops Show 1118, August 1, 2018, Story 1: President Trump Congratulates Rush Limbaugh For Thirty Years Of Outstanding Talk Show — Videos — Story 2: Trump Rally in Florida — Promises Made Promises Kept — Taxes and Regulations Cut — Videos — Story 3: Federal Reserve Keeps Federal Funds Target Rate Unchanged a 1.75-2.0 Percent — Videos — Story 4: Trump Tweets To Attorney General Sessions on Closing Down Special Counsel Mueller Investigation or Rigged Witch Hunt! — Videos

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Election season was clearly on the president's mind at his Monday rally, which featured a friendly crowd clad in Make America Great Again hats and t-shirtSee the source image

See the source image

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Story 1: President Trump Congratulates Rush Limbaugh For Thirty Years Of Outstanding Talk Show — Videos

audio 8/1/18 PRESIDENT TRUMP SURPRISES RUSH LIMBAUGH w/ PERSONAL PHONE CALL on 30th ANNIVERSARY

Rush Limbaugh talks Trump’s relationship with the news media

Rush Limbaugh ANALYSIS after Donald Trump WIN for President

Rush Limbaugh Interviews Donald Trump April 15,2011

Published on Apr 15, 2011

Donald Trump Teases a President Bid During a 1988 Oprah Show | The Oprah Winfrey Show | OWN

RUSH: So I have this note on the call screener computer: “On the hotline…” We don’t have a hotline. “On the hotline, you’re receiving a phone call in recognition of your anniversary broadcast. You’ll want to take this immediately.” Okay. So we’re going to the phones and we have a special guest. Who is it?

THE PRESIDENT: So, Rush, I just wanted to congratulate you on 30 years.

RUSH: (laughing)

THE PRESIDENT: This is your favorite president, and I think you are fantastic.

RUSH: (laughing)

THE PRESIDENT: I heard about it, and today’s the big day, 30 years. I wanted to call personally and congratulate you.

RUSH: I am floored. I… (laughing) I thought there was nothing anybody could do to surprise me today. I’ve been preparing for anything. Mr. President —

THE PRESIDENT: You’re a very special man, Rush, and you have people that love you. I’m one of them. But you’re a very, very special guy. What you do for this country, people have no idea how important your voice is. So I just wanted to personally make this one and I said, “I’ll even dial the number myself if I have to.”

RUSH: (laughing)

THE PRESIDENT: But I just want to congratulate you. Thirty years in that tough business is incredible — and you’re stronger now than ever before.

RUSH: Well, I — I thank you so much. It’s such a thrill to hear from you.

THE PRESIDENT: Well, it’s a thrill to be on.

RUSH: I told you, any time you want to appear here, you are more than welcome. I don’t want to hound you by asking you because everybody’s doing that, trying to get you. But, man, this is great. I’m so flattered. While I have you, can I say something back at you here?

THE PRESIDENT: Yes, go ahead, Rush. Go ahead.

RUSH: Are you aware…? I have to think you are when you go to your rallies.

THE PRESIDENT: Right.

RUSH: Are you aware of what you mean to everybody who voted for you and I think a bunch of who didn’t who want to the next time around? People have invested their hopes and their futures in this country being made great again and saved in you. Are you…? When you’re alone — which you may not ever be. But when you’re alone in the White House, do you think about that? Do you ponder what you’ve come to mean to people?

THE PRESIDENT: Well, I love these people. And, you know, you probably saw last night I was in Florida and we had 9,000 seats in the auditorium.

RUSH: Oh, yeah.

THE PRESIDENT: That was packed, and we had thousands outside and in these rooms all over the place. I guess they had at least 15,000, 18,000 people that couldn’t get in last night — which I hate. So we’re actually starting to put up big screens. I must tell you, it’s such an honor to me to see this. This love! I don’t know if you were able to see it last night, any of them. I mean, there’s such tremendous love. I’m going to Ohio on Saturday, and tomorrow I’m going to Pennsylvania, and it’s the same thing.

It’s like the enthusiasm — and part of it is that they’ve really been mistreated for so many years by the politicians. The country’s been mistreated. The trade deals were so bad. The taxes were so high. The tax cuts are so good; they’ve been so appreciated by so many people. The cut in regulations maybe is just as important as the tax cuts because businesses are hiring like they haven’t, like they’ve never hired before. And, you know, we have a more interesting stat: We have more people working in the United States today than at any time in our history. And it’s been so many different things are happening. So there’s a tremendous amount of love in the room, and I am aware of it; there’s no question about it.

RUSH: Mr. President, it was just a little over year and a half ago where your predecessor said that what is happening now couldn’t happen again, that those days were gone, that those jobs that were lost were not coming back. And he would tell audiences this. And look at what you’ve done with the entirety — seemingly the entirety — of Washington’s political class opposed to you. In a year and a half, you have reversed the direction the country was going. We have 4.1% economic growth. When you promised that, they accused you of misleading people because it couldn’t happen.

THE PRESIDENT: Well, that’s right, Rush. You have a lot of bad people in Washington. You knew that a long time ago. Frankly, before I knew it. I had no idea how evil some of them are, but you have a lot of great people too. And outside of Washington you have the greatest people in the world. And you’re right. You know, I’ve been saying 4%, but it should be much higher than that. You know, if you do good trade deals — which I will. You see what’s going on with China. You look at what’s going on.

I will tell you, NAFTA? They want to make a deal very badly. And, you know, we’re putting ’em back in shape. They’re horrible deals, the worst deals ever made by any country. You do that; you start lifting your GDP numbers way up also. Nobody ever ever talks about that. We’re doing 4.1% with bad trade deals. We have horrible trade deals. And our farmers, we’re gonna open up markets for them. You know, but they’re great patriots. They’re… I watch them all the time where they’re saying, “We trust our president.”

And, you know, they may take a short-term hit. But you look at farm and farming, it’s been going down for 15 years. Soybeans, five years before the election, was cut in half! The price was cut in half. I wasn’t there. So it’s going to… A lot of things are happening that are very exciting. And, you know, you look at the job numbers. You look at African-American, best ever. Hispanic, Asian, women, best ever! And it’s been a lot of fun for me, but I see the happiness and the faces.

Like last night in Florida with that, you know, really massive crowd, you see the happiness and the love — and nobody left. It’s like you. Nobody turns off your show. It’s like you can’t. Nobody leaves. You know, I’ll speak for an hour and 10 minutes, hour and 20 minutes. There wasn’t a person that left that room. It was just… It was an absolute love fest, and it’s going on all over the country, and a lot of it’s the same message. Most of it, I think — probably all of it — is the same message that you give out so well every day, better than anybody.

RUSH: Well, but your key… You know, I do understand it. I understand the bond that those people attending your rallies have with you and you with them. I’ve seen it. I know why it exists. And you are consistent. Things you said during the campaign are things you still say today. You haven’t given anybody reason to doubt you. You haven’t betrayed anybody or made them think that you’re going to. An example: Here you are suggesting that you’d be willing to maybe — you’d talk about — shutting down the government if that’s what it took to get this wall built.

THE PRESIDENT: Yeah.

RUSH: Now the traditional Republican says, “Oh, no! No! Don’t say that!” There you are saying, “Oh, yeah. I’ll be glad to do it if that’s what it takes.”

THE PRESIDENT: Yeah, I actually think it would be positive.

RUSH: People don’t understand your voters rally to you for that.

THE PRESIDENT: We had Obamacare repealed and replaced, and a man — I won’t mention his name. But a man at 2 o’clock in the morning went thumbs down, and he campaigned for years on repeal and replace. We had the chance. Nobody even spoke to him about it, because it was something that was unthinkable what he did, and because of that… But still, I have just about ended Obamacare. We have great health care. We have a lot of great things happening right now. New programs are coming out.

We got rid of the individual mandate. But that was very disappointing to me that night — and he did it because of me, probably. But that was very disappointing. That was a horrible thing he did to our country. And, frankly, it cost $1 trillion because we would have saved $1 trillion, on top of which we would have had good health care. But we’re doing it a different way. We have to go a different route. But he cost us a trillion dollars. And the other thing is the wall. We’ve started it. It’s like pulling teeth, though, getting these guys to get it done is. You have no idea how tough I’ve been.

I say, “Hey, if you have a shutdown, you have a shutdown.”

Now, the shutdown could also take place after the election. I happen to think it’s a great political thing, because people want border security. It’s not just the wall, Rush, as you know. It’s border security. It’s getting rid of catch-and-release, where you catch somebody, he can be a criminal of the highest order, and you have to release him! You catch him, you take his name, and you release him. And then you have the visa lottery. It’s a lottery system where you pick people out of a lottery. Well, the countries aren’t giving us their best people. They’re giving us people that they don’t want. So we’re taking people out of a lottery that the country doesn’t want. We’re getting some beauties.

RUSH: (laughing)

THE PRESIDENT: And then you have, you know, so many other things.

RUSH: (laughing)

THE PRESIDENT: We have to change the laws. We have the worst laws! How about chain migration? One person comes in and you end up with 32 people. The person that ran down 18 people on the West Side Highway, he’s allowed to have — and I think eight died. He has 22 members of his family in the United States because of chain migration. So we have to change this stuff, Rush. And we’ll get it done, but we have to change it, Rush. If we don’t change it, it will just go down, down, down. And it will get done. One way or the other, it’s getting done. But I’d be willing to do it. And you could do it before the election or after the election.

RUSH: Well, speaking of before, as a campaign issue, I saw a couple consultants say… I don’t need to mention their names. They’re Washington, D.C., professionals.

THE PRESIDENT: Right.

RUSH: They said that you need to drop this immigration stuff, Mr. President. You’re cruising for defeat if you base the midterms on this.

THE PRESIDENT: I know. I’ve heard that. (chuckles)

RUSH: You need to pivot back onto the economy, start telling people what a great economy we have, ’cause that’s the only way the Republicans can have a chance of holding the House in the midterms. What do you think about that advice?

THE PRESIDENT: Well, I’ve heard them. Probably different people than you, but I’ve heard a lot of people saying, “Oh, don’t do it before the election, we’ll upset the applecart,” and because we are doing so well economically we should do well — and, you know, the polls are okay. It’s very interesting. My polls are great, but the question is, “Is it transferable?” Now, it certainly was in Florida because you saw Ron DeSantis, who’s gotten a tremendous — you know, many, many, many points. The governor of Georgia where he was down by five and he won by 40 after I endorsed him. (chuckling) That was pretty good. That was almost like your endorsement.

RUSH: (laughing)

THE PRESIDENT: But, you know, we’ve had tremendous —

RUSH: (laughing)

THE PRESIDENT: If you take a look at Congressman Donovan from Staten Island where he was down by 10 and he wins by 24. So we’ve had a lot of impact. And that’s why I’m going around. But I have to say that I have heard this theory. I happen to think it’s a good thing politically. I’m not doing it for politics. I’m doing it because it’s the right thing to do. So I’m not looking at politics. But I happen to think that border security would be a good thing before the election, but there are many people within our party that are good people that are like you that agree with you on everything you say. But they’d rather do it after. They don’t agree on doing it before, and I accept their opinion, but I happen to think it would be a good thing to do before. I actually think we’d get more and there’d be more pressure on the other side, because we’re doing it because the Democrats are not giving us the votes.

RUSH: I think immigration is the largest reason you got elected, your consistency on that.

THE PRESIDENT: Well…

RUSH: I mean, it reverberates all across the country. There are people that the media, the inside-the-Beltway denizens are never gonna understand about this issue that you do. You’ve just articulated it, and you have articulated the thinking of what I think is a vast majority of people in this country. It’d be silly for you to abandon this issue now, going into the midterms.

THE PRESIDENT: Well, if you do it before, there’s a lot more pressure to get a great solution. But it’s riskier. If you do it afterwards, there’s less pressure; there’s less risk. I’m just not sure you’d make as good a deal. I will say a lot of people — good people — you know, would ask me in the nicest of ways, “Could we do it after the election?” So —

RUSH: I’ll bet. (laughing)

THE PRESIDENT: Yeah, and they’ve been good to me. I’ve had a lot of good support within the Republican Party, and you saw the poll numbers in the Republican Party. They like me so I have to keep them a little bit happy. But whether it’s before or after? But I actually think it’s a great campaign issue. I think it would be great before. But I don’t want to disappoint a lot of very good people that are working with me — and, Rush, I have to tell you, I’ve got some really good support within the Republican Party, too.

RUSH: Well, you do, and you have your staff. Are you basically…? Are you still following your gut, your instinct, or are you relying more and more on the circle of advisers you trust?

THE PRESIDENT: Well, I think it’s largely instinct. I have some great people. I really do. You know, you heard me tell the story last night maybe where, you know, I’ve been in Washington 17 times. In my whole life, I never stayed here. Now, all of a sudden, I’m riding down Pennsylvania Avenue and I’m president. So I don’t know a lot of people. Now I think I know everybody in Washington. I never stayed a night in Washington, I don’t believe. And, you know, I’ve probably been here 17, 18 times.

I’m from New York. But very rarely. And, all of a sudden, I’m president. And like Mike Pompeo. What a change that was. Mike is doing an incredible job. What a terrific guy — and I know you like him and he likes you. But we have some great people, and I’ve made some changes. But we’re really close to getting a fantastic — really just a fantastic group of people. We have some really great ones, and I think that’s reflective on the success that we’re having as an administration.

RUSH: Well, I thank you again for calling me today. This is the pinnacle, the greatest thing that could happen today. The last thing I expected was to hear from anybody ’cause I’ve given orders not to do anything unusual, and here you are. You’ve made the day for me. I can’t thank you enough, and God bless you.

THE PRESIDENT: Well, thank you. You know, people don’t realize what a great achievement 30 years is in that cutthroat business that you happen to be in. You know, you might not find that ’cause you’re so good at what you do. But that is a cutthroat business, and for you to do this for 30 years is truly an amazing accomplishment, and there’s no voice like it. Even your friend Hannity agrees with that.

RUSH: (laughing)

THE PRESIDENT: He said, “There’s nobody like this man.”

RUSH: (laughing)

THE PRESIDENT: So I said, “Oh, gee, I guess. I thought you two would be competitors.” He said, “Nope. He’s the dean.”

RUSH: No way!

THE PRESIDENT: He calls you “the dean.”

RUSH: No way. He was a guest host. He guest hosted for me when we first started. Absolutely.

THE PRESIDENT: No, he’s great. He’s a tremendous fan of yours. They all are. Everybody is. So I just want to congratulate you. Thirty years of… Just do it for another 30 years. After that, you can take it easy, okay?

RUSH: I will do that. Just that. I will stay around as long as you do.

THE PRESIDENT: Okay. You have a deal.

RUSH: Thank you, Mr. President.

THE PRESIDENT: And thank you very much, Rush. So important what you do. Thank you.

RUSH: Thank you, sir, again, very much.

THE PRESIDENT: Take care of yourself. Good-bye.

RUSH: President Trump. We went a little long there, but that’s okay.

https://www.rushlimbaugh.com/daily/2018/08/01/president-trump-calls-the-show/

Story 2: Trump Rally in Florida — Promises Made Promises Kept — Taxes and Regulations Cut — Videos

Trump hosts ‘MAGA’ rally with Rep. DeSantis in Tampa, FL

LIVE: President Donald Trump MASSIVE Rally in Tampa, Florida – July 31, 2018

Will ‘Trump Effect’ translate to midterm elections?

Ingraham: How the GOP can win the midterms

Why Democrats are optimistic about midterms

What Democrats’ left turn means for midterm elections

Trump whips Florida campaign rally into a frenzy with calls for a voter ID system ‘because you need ID to buy groceries’, then touts his economic success … but does not mention Mueller’s ‘witch hunt’ or Manafort’s trial

  • Donald Trump sent crowds into a frenzy Tuesday night at a rally in Tampa, Florida
  • Trump is reviving his call for a national voter ID system as the country heads into the midterm election and he eyes his own reelection campaign
  • The president said ‘the time has come for voter ID’, which sent crowds cheering
  • He touted his many victories, such as ending the war on Christmas: ‘Everybody is happy to say Merry Christmas’ 
  • The president spent considerable time talking about his trade policies, including tit-for-tat tariffs with China that he said would eventually pay dividends for the U.S. 
  • His supporters showed up to the rally wearing Make America Great Again hats and t-shirts
  • Trump won Florida in the 2016 presidential election, a victory that he reminded the crowd of 
  • His daughter Ivanka and son Eric and his wife Lara also attended the rally to support their father 

President Donald Trump is reviving his call for a national voter ID system as the country heads into the midterm election and the president eyes his own reelection campaign.

‘The time has come for voter ID,’ Trump said Tuesday night at a rally in Tampa, Fla., which earned him a roar of approval and sustained applause from the crowd.

‘If you go out and you want to buy groceries, you need a picture on a card, you need I.D. You go out and you want to buy anything, you need I.D. And you need your picture. In this country the only time you don’t need it in many cases is when you want to vote,’ he said.

Most grocery stores don’t require identification unless the customer is buying something age restricted, like alcohol. 

Election season was clearly on the president’s mind at his rally, which featured a friendly crowd clad in Make America Great Again hats and t-shirt. They waved signs that featured Trump’s new campaign slogan ‘Keep America Great,’ ‘Trump, Pence,’ ‘Women for Trump,’ and ‘Blacks for Trump.’

He failed to address Robert Mueller’s ‘witch hunt’ or Paul Manafort’s trial, which begun today, during his speech.

In his remarks, Trump endorsed Republican candidates in Florida’s crucial and competitive Senate and gubernatorial races this fall. The Sunshine State will also be critical to the president’s reelection efforts in 2020.

Scroll down for video 

President Donald Trump speaks during a campaign rally at Florida State Fairgrounds Expo Hall, Tuesday, July 31, 2018, in Tampa, Florida

President Donald Trump speaks during a campaign rally at Florida State Fairgrounds Expo Hall, Tuesday, July 31, 2018, in Tampa, Florida

 Trump was greeted by a supportive crowd at the Florida rally. In his remarks, Trump endorsed Republican candidates in Florida's crucial and competitive Senate and gubernatorial races this fall

 Trump was greeted by a supportive crowd at the Florida rally. In his remarks, Trump endorsed Republican candidates in Florida’s crucial and competitive Senate and gubernatorial races this fall

Supporters cheer as Trump arrives for the rally at the Florida State Fairgrounds Expo Hall, Tuesday, July 31, 2018, in Tampa

Supporters cheer as Trump arrives for the rally at the Florida State Fairgrounds Expo Hall, Tuesday, July 31, 2018, in Tampa

Trump won Florida in the 2016 presidential election, a victory that he was happy to remind the crowd of.

But he also talked about his own time in office, reassuring the crowd he would occupy the Oval for seven years. He reminisced about inauguration and mentioned his family – Eric Trump and Ivanka Trump were with him – as was Eric’s wife Lara – but he also talked about the first lady and how ‘everybody loves Melania.’

He also gave shout outs to two former campaign officials who were with him: ex campaign manager Corey Lewandowski and his former deputy campaign manager David Bossie.

He even got in a dig at ‘Crooked Hillary,’ prompting the crowd to shout ‘lock her up’.

And he touted other victories such as ending the war on Christmas – making that claim on a muggy day in July in Florida.

Trump acknowledged it was early in the year to be talking about the holidays. ‘it’s awfully early to be thinking this, but I always think it,’ he said.

‘Remember the attack on Merry Christmas? They are not attacking it anymore. Everybody is happy to say Merry Christmas,’ he said. ‘You have these big department stores that say happy holidays. They say where’s the Merry Christmas. Now they are all putting up Merry Christmas again.’

He also teased the crowd, which had filled the Florida State Fairgrounds Expo Hall, and been hyped up since before his arrival. Supporters swarmed CNN reporter Jim Acosta and the media area to scream ‘fake news’ before the president began his remarks and they were on their feet for all of Trump’s speech, often cheering and shouting.

‘I said we might be a little bit wild, they say he’s not acting presidential and I would say it’s a lot easier to act presidential than to do what I do. Anybody can act presidential,’ he said as the crowd cheered him on.

‘Ladies and gentlemen of the state of Florida, thank you very much for being here. You are tremendous people and I will leave now because I am boring you to death, thank you,’ he joked as the crowd gave him sustained applause.

Trump’s call for a national voter ID system came he railed on Democrats for their stance on illegal immigration, an issue the president has lasered in on in the last few weeks, claiming it was a policy stance that got him elected in the first place.

His first called for voter ID in January after he disbanded his controversial commission investigating allegations of voter fraud.

Trump created the commission after claiming that at least 3 million people voted illegally in the 2016 presidential election — enough to make up for Hillary Clinton’s lead in the popular vote.

Election season was clearly on the president's mind at his Monday rally, which featured a friendly crowd clad in Make America Great Again hats and t-shirt

Election season was clearly on the president’s mind at his Monday rally, which featured a friendly crowd clad in Make America Great Again hats and t-shirt

Supporters waved signs that featured Trump's new campaign slogan 'Keep America Great,' 'Trump, Pence,' 'Women for Trump,' and 'Blacks for Trump'

Supporters waved signs that featured Trump’s new campaign slogan ‘Keep America Great,’ ‘Trump, Pence,’ ‘Women for Trump,’ and ‘Blacks for Trump’

A supporter of President Donald Trump heckles CNN Jim Acosta, left, during a Trump rally at the Florida State Fairgrounds in Tampa

A supporter of President Donald Trump heckles CNN Jim Acosta, left, during a Trump rally at the Florida State Fairgrounds in Tampa

Supporters cheer as US President Trump speaks during a campaign rally at Florida State Fairgrounds Expo Hall in Tampa

A man holds a sign that reads: 'CNN sucks' during the rally at the Florida State Fairgrounds Expo Hall in Tampa

However, states wouldn’t hand over their voter data over privacy concerns and there have been no reports or proof of voter fraud on a massive scale.

Voting rights groups have been challenging voter ID laws for years, arguing they disproportionately impact voters of color.

Thirty six states request or require voters to show ID at the polls, according to the National Conference of State Legislatures. In 2000, 14 states had such laws.

Trump claimed the system was needed to keep illegals from voting.

‘In some states, Democrats are trying to give illegal immigrants the right to vote,’ he charged.

‘The Democrats are not doing what we want them to do. They’re not voting our values and what we want to do in the country,’ he said.

‘If you want safety. If you want a country, vote Republican,’ he told the packed auditorium.

‘We need more votes,’ he said.

In his little more than an hour-long remarks at the Florida State Fairgrounds Expo Hall, the president offered a long defense of his record in the White House.

‘I ran for president with no experience and I won,’ he said.

‘I didn’t know anybody Washington but now I know everyone in Washington. I know the good ones. I know the bad ones,’ he added.

Support: Ivanka, brother Eric and his wife Lara were at the rally to support their father. Lara shared this photo of the trio to her Instagram 

Trump, accompanied by Ivanka Trump, third from right, and Eric Trump, right, the children of President Donald Trump, and Eric's wife, Lara Trump, second from right, steps off Marine One on the South Lawn of the White House in Washington after the Tampa rally

Ladies in red! (L-R) Ivanka Trump, Lara Trump and Eric Trump exit Marine One as they return from Tampa

Ivanka Trump arrives to the South Lawn at the White House in Washington, Tuesday after the Tampa rally

In a winding defense of his work, Trump proclaimed ‘we have the best economy in the history of our country now,’ attacked the press, praised U.S. steel, trashed the Democrats, and touted Republican gubernatorial and Senate candidates.

Trump is seen arriving back at the White House after the rally

His pro-America lines got the largest and loudest applause from the crowd while his attacks on the ‘fake news’ drew plenty of boos.

His speech was also peppered with red meat lines intended to rally his core supporters, such as when he said: ‘We will never give up, we will never give in, we will never, ever back down and we will never, ever surrender.’

He added: ‘Because we are Americans and our hearts bleed red, white and blue blue. We are one people. We are one family. And we are one glorious nation under god. And together we will make America wealthy again. We will make America strong again. We will make America safe again. We will make America great again.’

The president spent considerable time talking about his trade policies, including tit-for-tat tariffs with China that he said would eventually pay dividends for the United States.

The tariffs are causing unease among Republican lawmakers facing tough re-election battles in November, and Trump’s focus on them suggested he was concerned about their potential political impact.

China and other top U.S. trade partners zeroed in on American farmers with retaliatory tariffs after the administration imposed duties on Chinese goods as well as steel and aluminum from the European Union, Canada and Mexico.

‘China and others have targeted our farmers. Not good. Not nice. And you know what our farmers are saying? ‘It’s OK. We can take it,’ Trump said.

The Trump administration announced a $12 billion farm aid package last week, prompting some farmers and farm-state lawmakers, including Trump’s fellow Republicans, to criticize the move, saying they would rather trade with no tariffs than receive government help.

‘I want to thank our farmers,’ Trump said. ‘Our farmers are true patriots.’

Trump won Florida in the 2016 presidential election, a victory that he reminded the crowd of during the rally

Trump gives a thumbs up to the crowd during a campaign rally at the Florida State Fairgrounds Expo Hall

Trump gives a thumbs up to the crowd during a campaign rally at the Florida State Fairgrounds Expo Hall

Trump shakes hands with US Representative Ron DeSantis, Republican of Florida, and candidate for Florida Governor, during the rally

Trump shakes hands with US Representative Ron DeSantis, Republican of Florida, and candidate for Florida Governor, during the rally

Trump also defended the denuclearization deal he signed with North Korean leader Kim Jong Un in June in Singapore after reports surfaced that North Korea was proceeding with its missile program.

The Singapore summit was long on positive imagery but short on specific benchmarks for North Korea giving up its nuclear weapons.

Trump said the fact that North Korea was starting to return the remains of American dead from the 1950s Korean War and that there had been no nuclear or missile tests were offshoots of the summit.’I think it’s going to work out very well,’ he said. ‘No tests, no rockets flying. But we’ll see what happens.’

Trump also repeatedly encouraged the crowd to vote for Republican Ron DeSantis for governor. Trump had previously endorsed the candidate via Twitter, a move that boosted DeSantis’ standing in the polls and pushed him past his GOP primary rival Adam Putnam, who has been twice elected statewide and has held various Florida offices for 21 years.

He brought DeSantis on stage to speak.

Trump also touted Republican Rick Scott, who’s challenging Democratic Senator Bill Nelson in the fall.

‘We have to make sure Rick Scott wins and wins big,’ he said.

Scott was not at the rally but was at the president’s workplace development event at the Tampa Bay Technical High School earlier in the evening and was spotted getting off Air Force One with the president when he landed in Florida.

Corey Lewandowski, former campaign manager for Trump, poses for photographs outside a signing ceremony for the 'Strengthening Career and Technical Education for the 21st Century Act,' at Tampa Bay Technical High School, Tuesday, July 31, 2018, in Tampa

Trump supporters watch through glass doors as the president speaks during the rally

At the beginning of his remarks, protesters were pulled from the crowd, which the president used to get in a dig at the media: ‘One person and tomorrow it will be massive protests.’

At least three protestors were pulled from the crowd.

The Florida State Fairgrounds Expo Hall was filled to the rafters with the arena standing room only.

The president pointed out: ‘Outside we set up for the first time a big movie screen because we have thousands and thousands who couldn’t get in.’

He added: ‘It’s a great place to be. If you have to be outside, be outside in the great state of Florida.’

It was actually raining outside when he made those remarks.

He also touted a poll – without naming which poll – that he says calls him the most popular Republican president.

‘The most popular person in the history of the Republican Party is Trump – can you believe it?’ he exclaimed, as the crowd roared and waved signs at him.

‘Seven more years. Yeah seven more,’ he concluded to the delight of the crowd.

Abraham Lincoln, a Republican president, is consistently ranked by historians as the best leader in the country’s history. And polling wasn’t invented until the 1930s, when Franklin D. Roosevelt was president.

Trump address that too.

‘I would say I can be more presidential than any president in history except for possibly Abe Lincoln with the big hat,’ he said.

http://www.dailymail.co.uk/news/article-6013269/Trump-whips-crowd-frenzy-campaign-rally-Florida.html

 

Story 3: Federal Reserve Keeps Federal Funds Target Rate Unchanged a 1.75-2.0 Percent — Videos

See the source image

See the source image

See the source image

Fed Decision Sets Stage for Rate Hike in September, Economist Swonk Says

Fed’s interest rates decision: What is the market looking for?

What to expect from the Federal Reserve’s interest rate decision

How Interest Rates Are Set: The Fed’s New Tools Explained

The Federal Fund Rate in 4 Minutes

 

Fed holds interest rates, says economy is growing at a ‘strong’ pace

jerome powell
Federal Reserve Board Chairman Jerome Powell.
 Chip Somodevilla/Getty
  • The Federal Reserve announced Wednesday that it decided during a two-day policy meeting to keep its key interest rate unchanged.
  • Traders had widely expected this decision, anticipating that the Fed would raise the benchmark for borrowing costs two more times this year including next month.
  • The Fed said the economy was growing at a “strong” pace and reaffirmed its plans to raise interest rates gradually.

The Federal Reserve held its benchmark interest rate unchanged Wednesday and reaffirmed its plans to continue raising borrowing costs at a gradual pace.

The decision to hold rates had been widely expected and came after a two-day meeting of the Federal Open Market Committee, which dictates monetary policy.

“This statement is a placeholder ahead of the quarterly forecast meeting next month,” Ian Shepherdson, the chief economist at Pantheon Macroeconomics, said in a note.

Traders expect the Fed to raise borrowing costs twice more this year. They see a 92% probability that it will raise the fed funds rate to a range of 2% to 2.25% in September, according to Bloomberg.

“Economic activity has been rising at a strong rate,” the Fed’sstatement said, thanks to strong household spending and business investment. An advance estimate of second-quarter gross domestic product released Friday showed that the economy grew at an annualized rate of 4.1%, the fastest in nearly four years.

During his semiannual congressional testimony in mid-July, Fed Chairman Jerome Powell said that, with appropriate monetary policy, the job market would remain strong and inflation would stay around the 2% target for “several years.”

He said that it was difficult to predict the outcome of the ongoing trade disputes but that a prolonged trade war would hurt the economy.

“We see no reason, then, to change our view that the Fed will hike in both Sep and Dec this year, but we don’t expect any serious change in the language of the statement until December or March,” Shepherdson said.

With seven rate hikes in the bag since the financial crisis, the Fed is contemplating whether to remove language in its statement that continues to describe borrowing costs as low. Minutes of its meeting in June showed that some FOMC officials debated how communications may evolve if the economy continued to make progress and was able to withstand higher rates.

Read more: Here’s how the Fed raises interest rates and why it matters

Wednesday’s 1 statement showed the Fed still planned to continue raising interest rates gradually.

Here’s the Fed’s statement:

“Information received since the Federal Open Market Committee met in June indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Household spending and business fixed investment have grown strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Indicators of longer-term inflation expectations are little changed, on balance.

“Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term. Risks to the economic outlook appear roughly balanced.

“In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1-3/4 to 2 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.

“In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.

“Voting for the FOMC monetary policy action were: Jerome H. Powell, Chairman; John C. Williams, Vice Chairman; Thomas I. Barkin; Raphael W. Bostic; Lael Brainard; Esther L. George; Loretta J. Mester; and Randal K. Quarles.”

https://www.businessinsider.com/federal-reserve-fomc-statement-interest-rates-august-1-2018-8

Story 4: Trump Tweets To Attorney General Sessions on Closing Down Special Counsel Mueller Investigation or Rigged Witch Hunt! — Videos

Trump Calls On Sessions To End Russia Probe

Trump calls for AG Sessions to end the Russia investigation

Giuliani to Mueller: Put up or shut up

Napolitano: Is Giuliani putting Trump in jeopardy?

DiGenova: ‘Terror legal tactics’ used against Manafort

Tom Fitton on Strzok’s demands before joining Mueller team

Trump Walking Fine Line Asking Sessions to End Mueller Probe, Ex-Prosecutor Says

Napolitano on leaked audio tapes: Indication of a fraud

Mueller tries to squeeze Manafort as trial opens

Report: Robert Mueller may have a conflict of interest

Potential impact of Manafort trial on Russia probe

Why Mueller isn’t having success with Manafort

Trump calls on Sessions to stop Mueller’s Russia probe, raising specter of attempted obstruction

Chris MegerianNoah Biermanand Eliza Fawcett

President Trump called on Atty. Gen. Jeff Sessions to “stop this Rigged Witch Hunt right now,” opening the president to further complaints that he is trying to obstruct the investigation into Russia’s election interference and his campaign’s possible complicity.

Trump is already reportedly under investigation for potential obstruction of the Russia probe led by special counsel Robert S. Mueller III. His tweet early Wednesday was the president’s most explicit statement to date seemingly aimed at getting his attorney general,the nation’s top law enforcement officer, to end the probe.

The tweet, along with several others on Wednesday morning, reflected the president’s accelerated attacks on the investigation, which he claims is tainted by bias. They coincided with the second day of the trial of Paul Manafort, Trump’s former campaign chairman, on 18 charges of tax evasion, bank fraud and conspiracy.

“This is a terrible situation and Attorney General Jeff Sessions should stop this Rigged Witch Hunt right now, before it continues to stain our country any further. Bob Mueller is totally conflicted, and his 17 Angry Democrats that are doing his dirty work are a disgrace to USA!” Trump wrote.

Manafort’s trial continued in Alexandria, Va., with testimony from several more witnesses for the prosecution, including a political consultant who worked with him in Ukraine for the pro-Russia government at the time; an FBI agent who helped search his condo last year; and an employee from a high-end menswear store who said Manafort would pay for custom suits with wire transfers from overseas accounts.

Prosecutors have accused Manafort of using more than 30 such accounts in three foreign countries — Cyprus, the Seychelles, and St. Vincent and the Grenadines — to avoid paying U.S. taxes on $15 million of income.

The president suggested in a tweet that Manafort was being treated worse than Al Capone, the notorious Prohibition-era Chicago gangster who was also prosecuted for tax evasion. “Where is the Russian Collusion?” Trump added.

Trump’s tweets prompted Rep. Adam B. Schiff of Burbank, the top Democrat on the House Intelligence Committee, to accuse the president of obstruction “hiding in plain sight.”

“The President of the United States just called on his Attorney General to put an end to an investigation in which the President, his family and campaign may be implicated,” Schiff tweeted. “This is an attempt to obstruct justice hiding in plain sight. America must never accept it.”

The Justice Department says a president cannot face criminal charges while in office. But depending on what Mueller uncovers, including on obstruction, Congress could decide to pursue impeachment. President Clinton was impeached by the U.S. House for perjury and obstruction in 1998, a time when Congress likewise was under Republicans’ control, though the Senate voted for acquittal.

Follow the latest news of the Trump administration on Essential Washington »

Contrary to Trump’s tweet, Sessions doesn’t have power to stop the investigation because he recused himself from the Russia investigation more than a year ago. Deputy Atty. Gen. Rod J. Rosenstein became responsible for the probe, appointed Mueller and supervises his work.

“It’s a tweet that’s just blowing in the wind, because Sessions has already recused himself from the Russia investigation,” said John Yoo, a UC Berkeley law professor who served in President George W. Bush’s administration.

Even so, the episode once again forced the White House and Trump’s allies to defend a presidential tweet aimed at undermining the investigation.

Although the White House and the Justice Department previously have said that Trump’s tweets are official presidential statements, his lawyer Rudolph W. Giuliani responded to the latest one as he has before, by brushing off suggestions that Trump’s tweets could be used as evidence of obstruction.

“The president was expressing his opinion on his favored medium for asserting his 1st Amendment right of free speech,” Giuliani said in an interview. “He said ‘should,’ not ‘must,’ and no presidential order was issued or will be.”

Giuliani said he spoke with Trump to make sure that the president wasn’t actually issuing an order. “I talked to him about it to make sure he was on the same page as we are,” Giuliani said, and the president indicated he was not ordering Sessions to act.

Giuliani told CBS’ “Face the Nation” on Sunday that all of Trump’s tweets “don’t amount to anything.” He added, “Obstruction by tweet is not something I think works real well. Generally obstruction is secret, it’s clandestine, it’s corrupt.”

For months, Trump’s lawyers also have argued that it’s impossible for the president to obstruct justice because his constitutional authority extends over the Justice Department. That allows him to direct officials where to focus their resources or to fire them, as Trump did in removing James B. Comey as FBI director last year. That firing led to Mueller’s appointment as special counsel.

Wednesday’s tweet was a reminder of Trump’s unabated anger at Sessions for recusing himself from overseeing the Russia investigation. He did so on March 2, 2017, as members of both parties and legal experts contended that he should have.

At the time, Sessions pointed to Justice Department regulations to explain that, as one of Trump’s earliest and most active supporters, he shouldn’t participate in the investigation of the Trump campaign. He announced the decision after controversy over his own undisclosed contacts during the campaign and the post-election transition with the Russian ambassador at the time, Sergey Kislyak.

Two months ago, Trump tweeted that he should have chosen an attorney general who didn’t need to recuse himself. “I wish I did!” he wrote.

Joseph diGenova, a former U.S. attorney who was nearly hired to represent Trump, said the president has been “completely disgusted” with Sessions.

“He doesn’t like weak people,” DiGenova said in an interview with The Times. “And he thinks Jeff Sessions is extremely weak and not a competent leader.”

In his latest tweets, Trump also quoted criticism of the investigation from Alan Dershowitz, a Harvard Law School professor who frequently defends him on television. In an interview, Dershowitz also cast doubt on whether Trump’s tweets can be seen as an act of obstruction.

“You cannot obstruct justice by openly exercising your 1st Amendment rights and openly criticizing a prosecution, whether you’re right or wrong,” he said. “Obstruction of justice is generally committed behind the scenes, so I think both sides are a little overwrought here.”

Dershowitz also acknowledged that Trump was mistaken in suggesting that Sessions can end the investigation. “You can’t be both recused and making decisions about the investigation,” he said.

Stephen Vladeck, a University of Texas law professor, said Trump would need to take different steps to halt the probe. He could give the order to Rosenstein and fire him if he does not comply, Vladeck said, or Trump could try to replace Sessions with someone who does not have a conflict of interest, allowing that person to order Rosenstein to shutter Mueller’s investigation.

Manafort is the first person to face trial on charges stemming from the special counsel’s work. Prosecutors say he evaded taxes on income earned while working as a political consultant in Ukraine, and then relied on bank fraud to sustain his expensive lifestyle after the autocrat he worked for fled to Russia in 2014.

FBI Special Agent Matthew Mikuska described on Wednesday the early morning search of Manafort’s condo in July 2017. Mikuska said agents arrived at Manafort’s door at 6 a.m. and knocked three times. Hearing no answer, he said, they opened the door with a key, finding Manafort and his wife inside.

Agents seized numerous documents during the search, including a 2016 loan application from Manafort to the Banc of California, invoices for home renovation work, and wire transfers originating in Cyprus to Manafort’s companies.

Maximillian Katzman, 29, manager of a luxury menswear boutique in Manhattan, testified that Manafort was one of the store’s top five clients, and the only one who paid his bills through international wire transfers.

Katzman was the first of six witnesses who testified about Manafort’s luxury lifestyle funded through offshore accounts. Stephen Jacobsen said he was paid at least $3 million for home improvement projects on Manafort’s various homes, and Ronald Wall testified that Manafort was a “very good customer” at the House of Bijan clothing store.

The trial appeared to be running ahead of schedule. Prosecutors said they might be able to rest their case next week.

Bierman reported from Washington, and Megerian and Fawcett reported from Alexandria, Va.

noah.bierman@latimes.com | Twitter: @noahbierman


UPDATES:

4 p.m.: This article was updated with more testimony against Manafort.

2:45 p.m.: This article was updated with additional testimony from Manafort’s trial.

1:35 p.m.: This article was updated with additional context, developments from the Manafort trial and quotes from Yoo and diGenova.

This article was originally published at 10:20 a.m.

http://www.vagazette.com/la-na-pol-trump-mueller-20180801-story.html

 

Mueller’s Weaponized Justice System Should Scare All Americans

Image: Mueller's Weaponized Justice System Should Scare All Americans
Michael Cohen, former personal attorney for U.S. President Donald Trump, on July 27, 2018 in New York City. (Drew Angerer/Getty Images)

By Bernard Kerik
Tuesday, 31 July 2018 12:32 PMCurrent | Bio | Archive

He also attached an article, titled: “A Look at Manafort and Cohen, as Manafort Trial Starts.”

His focus and rightfully so, is on Manafort and Cohen’s distinctively different approaches on how they’re dealing with being selectively and politically targeted by Special Counsel Robert Mueller and the U.S. Justice Department.

Manafort appears determined to fight it out and defend himself from charges that would have never been brought had he not supported and worked for a short period of time on the president’s political campaign. Apparently he has the money to do so… at least for the time being, as the prosecutors have an endless amount of money to spend in their quest for victory and are accountable to no one, as to how they spend it, or why.

Former National Security Advisor Michael Flynn started out the same way, wrongfully assuming what most Americans once did, that if you haven’t done anything wrong, you have nothing to hide, and your cooperation is your best bet.

Unfortunately, he learned the hard way, that politically motivated prosecutors aren’t concerned with the truth, or give a damn about your service to our country, or how devastating their pursuit for a conviction can be — personally, financially, or professionally, annihilating you. For years, prosecutors have compelled guilty pleas of innocent people by pressuring their families, or extorting false witness testimony to obtain their convictions, it took this, the Manafort, Cohen and Flynn cases, for the public and press to pay any attention to it. In Flynn’s case, he pled guilty to making a false statement, but had he not, the government would have targeted his family, and bankrupted him, so he had no choice.

The Michael Cohen case is no different in the sense that he was politically targeted, but has revelations that are completely baffling.

I was outraged, as I’m sure was the president, that Cohen too, was targeted by the Special Counsel’s office, another victim, who would have never been in their crosshairs had he not worked for President Trump.

I was also stunned when the government raided his home, office, and hotel room, seizing his personal and professional records. This action was above and beyond the norm, but done for a purpose: to create a conflict between the president and his former counsel, and to insure that Cohen and president couldn’t communicate, and then to apply pressure on Cohen, like Flynn and Manafort, to flip on the president — in this case his own client.

Although I didn’t know Cohen personally, we had many mutual friends and just about every one of them described him as an extremely loyal and tough guy. In my eyes he turned out to be neither.

As someone that’s been through this nightmare and known many others that have, I can tell you that the personal pressures are enough to drive you into a manic depression, with thoughts of suicide. It kills or cripples you, or makes you stronger, and I personally feel bad for Cohen, because he is definitely not as tough as everyone thought.

What baffles me more, is his conduct before this all began, when he secretly taped private conversations between him and his client, Donald Trump. That raises serious questions about his motives, character, and credibility. There’s no logical answer as to why Cohen secretly taped his client, which creates the blatant perception that his motives were sleazy and ill intended.

Strangely, now he’s put himself in a position where the one and only person that could ever help him has realized his true character; and his chances of cooperating with the government have been diminished substantially due to his credibility, motives, and who knows what else. In the meantime, all the president’s critics have become his new best friends, milling about like hyenas in “The Lion King,” at least until they determine his usefulness. Then he’ll have no one.

All of this makes for great headlines and intrigue, but what bothers me more than anything, is that it doesn’t bother many members of Congress, or the ACLU, or the criminal justice reform advocates — like dozens, maybe hundreds of them.

Groups that rake in millions of tax dollars, calling for justice and pushing out messages on prosecutorial misconduct, over-criminalization, prosecutorial discretion, and selective targeting and prosecutions. There’s never been a greater public demonstration of all of this than these prosecutions, but because the intended target is Donald Trump, they’re eerily silent.

Last night Alan Dershowitz said that, “Special Counsel Robert Mueller is hoping that Paul Manafort will opt to testify against the president, rather than face a lengthy prison sentence.”

Doesn’t that bother the members of Congress sitting on the House and Senate Judiciary Committees? That our government weaponized its criminal justice system to specifically target the president and in the process, are destroying American citizens for selective and political reasons.

Perhaps because they’ve never been through it, or never known anyone that has. Perhaps they don’t give a damn as long as it suits their political needs and agenda?

Cohen, Flynn, and Manafort were targeted for political reasons, and that should scare the hell out of every American in our country, no matter what color you are, how you vote, or how wealthy you are, and something must be done to stop it.

It’s time for the U.S. Attorney General to stop this madness, and create internal policies to prevent it from happening in the future, and if for some reason, he cannot get the job done, that the president must find someone that can.

As New York City’s 40th Police Commissioner, Bernard Kerik was in command of the NYPD on September 11, 2001, and responsible for the city’s response, rescue, recovery, and the investigative efforts of the most substantial terror attack in world history. His 35-year career has been recognized in more than 100 awards for meritorious and heroic service, including a presidential commendation for heroism by President Ronald Reagan, two Distinguished Service Awards from the U.S. Department of Homeland Security, The Ellis Island Medal of Honor, and an appointment as Honorary Commander of the Most Excellent Order of the British Empire by Her Majesty Queen Elizabeth II. To read more of his reports — Click Here Now.

Read Newsmax: Mueller’s Weaponized Justice System Should Scare All Americans | Newsmax.com

https://www.newsmax.com/bernardkerik/mueller-cohen-flynn-manafort/2018/07/31/id/874714/#ixzz5MvhHHEWS

Mueller’s Weaponized Justice System–a post by Bernard Kerik

(Drew Angerer/Getty Images)

By Bernard Kerik


Tuesday, 31 July 2018 12:32 PMCurrent | Bio | Archive

Read Newsmax: Mueller’s Weaponized Justice System Should Scare All Americans | Newsmax.com

Last night I came across a   tweet   by former Arkansas Governor Mike Huckabee in which he said, “I wish we had Lt. Columbo right now, to walk into the special counsel’s office and say, ‘You know, there’s something about this that bothers me…’”

He also attached an article, titled: “A Look at Manafort and Cohen, as Manafort Trial Starts.”

His focus and rightfully so, is on Manafort and Cohen’s distinctively different approaches on how they’re dealing with being selectively and politically targeted by Special Counsel Robert Mueller and the U.S. Justice Department.

Manafort appears determined to fight it out and defend himself from charges that would have never been brought had he not supported and worked for a short period of time on the president’s political campaign. Apparently he has the money to do so… at least for the time being, as the prosecutors have an endless amount of money to spend in their quest for victory and are accountable to no one, as to how they spend it, or why.

Former National Security Advisor Michael Flynn started out the same way, wrongfully assuming what most Americans once did, that if you haven’t done anything wrong, you have nothing to hide, and your cooperation is your best bet.

Unfortunately, he learned the hard way, that politically motivated prosecutors aren’t concerned with the truth, or give a damn about your service to our country, or how devastating their pursuit for a conviction can be — personally, financially, or professionally, annihilating you. For years, prosecutors have compelled guilty pleas of innocent people by pressuring their families, or extorting false witness testimony to obtain their convictions, it took this, the Manafort, Cohen and Flynn cases, for the public and press to pay any attention to it. In Flynn’s case, he pled guilty to making a false statement, but had he not, the government would have targeted his family, and bankrupted him, so he had no choice.

The Michael Cohen case is no different in the sense that he was politically targeted, but has revelations that are completely baffling.

I was outraged, as I’m sure was the president, that Cohen too, was targeted by the Special Counsel’s office, another victim, who would have never been in their crosshairs had he not worked for President Trump.

I was also stunned when the government raided his home, office, and hotel room, seizing his personal and professional records. This action was above and beyond the norm, but done for a purpose: to create a conflict between the president and his former counsel, and to insure that Cohen and president couldn’t communicate, and then to apply pressure on Cohen, like Flynn and Manafort, to flip on the president — in this case his own client.

Although I didn’t know Cohen personally, we had many mutual friends and just about every one of them described him as an extremely loyal and tough guy. In my eyes he turned out to be neither.

As someone that’s been through this nightmare and known many others that have, I can tell you that the personal pressures are enough to drive you into a manic depression, with thoughts of suicide. It kills or cripples you, or makes you stronger, and I personally feel bad for Cohen, because he is definitely not as tough as everyone thought.

What baffles me more, is his conduct before this all began, when he secretly taped private conversations between him and his client, Donald Trump. That raises serious questions about his motives, character, and credibility. There’s no logical answer as to why Cohen secretly taped his client, which creates the blatant perception that his motives were sleazy and ill intended.

Strangely, now he’s put himself in a position where the one and only person that could ever help him has realized his true character; and his chances of cooperating with the government have been diminished substantially due to his credibility, motives, and who knows what else. In the meantime, all the president’s critics have become his new best friends, milling about like hyenas in “The Lion King,” at least until they determine his usefulness. Then he’ll have no one.

All of this makes for great headlines and intrigue, but what bothers me more than anything, is that it doesn’t bother many members of Congress, or the ACLU, or the criminal justice reform advocates — like dozens, maybe hundreds of them.

Groups that rake in millions of tax dollars, calling for justice and pushing out messages on prosecutorial misconduct, over-criminalization, prosecutorial discretion, and selective targeting and prosecutions. There’s never been a greater public demonstration of all of this than these prosecutions, but because the intended target is Donald Trump, they’re eerily silent.

Last night Alan Dershowitz said that, “Special Counsel Robert Mueller is hoping that Paul Manafort will opt to testify against the president, rather than face a lengthy prison sentence.”

Doesn’t that bother the members of Congress sitting on the House and Senate Judiciary Committees? That our government weaponized its criminal justice system to specifically target the president and in the process, are destroying American citizens for selective and political reasons.

Perhaps because they’ve never been through it, or never known anyone that has. Perhaps they don’t give a damn as long as it suits their political needs and agenda?

Cohen, Flynn, and Manafort were targeted for political reasons, and that should scare the hell out of every American in our country, no matter what color you are, how you vote, or how wealthy you are, and something must be done to stop it.

It’s time for the U.S. Attorney General to stop this madness, and create internal policies to prevent it from happening in the future, and if for some reason, he cannot get the job done, that the president must find someone that can.

As New York City’s 40th Police Commissioner, Bernard Kerik was in command of the NYPD on September 11, 2001, and responsible for the city’s response, rescue, recovery, and the investigative efforts of the most substantial terror attack in world history. His 35-year career has been recognized in more than 100 awards for meritorious and heroic service, including a presidential commendation for heroism by President Ronald Reagan, two Distinguished Service Awards from the U.S. Department of Homeland Security, The Ellis Island Medal of Honor, and an appointment as Honorary Commander of the Most Excellent Order of the British Empire by Her Majesty Queen Elizabeth II. To read more of his reports 

https://peterweisswritings.wordpress.com/2018/08/02/muellers-weaponized-justice-system-a-post-by-bernard-kerik/

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The Pronk Pops Show 873, April 13, 2017, Story 1: Made In America Terrorist Tested In Afghanistan — Mother of All Bombs — Who is Next? North Korea, Syria, Iran — Videos — Story 2: Trump To NATO Members: Pay You Bills (2% of GDP For Military Spending) — NATO Not Obsolete — Videos — Story 3: Russian Foreign Minister Sergei Lavrov To United States Secretary of State Rex Tillerson — Show Us The Evidence of Chemical Gas Attack in Syria — Assad –“100% Fabrication” — Not Enough Evidence — Videos — Story 4: Trump Will Not Name Communist China As Currency Manipulator –United States Is A Currency Manipulator — Video — Story 5: Trump Favors Fed Chair Yellen’s Unconventional Accommodating Easy Money Policy — Government Intervention in Money Markets — Financial Repression of American Savers — Videos — Story 6: Trump Supporters and Talk Radio Will Dump Trump Should He Continue Flip Flopping and Listening To Liberal Democrat/Moderate Advisers — Videos

Posted on April 13, 2017. Filed under: American History, Blogroll, Breaking News, Budgetary Policy, China, Communications, Countries, Donald Trump, Economics, Elections, Fiscal Policy, Government Spending, History, Human, Law, Life, Media, Monetary Policy, North Korea, Obama, Philosophy, Politics, Polls, President Trump, Radio, Raymond Thomas Pronk, Regulation, Rule of Law, Scandals, Syria, Tax Policy, Taxation, Taxes, Terror, Terrorism, United States of America, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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The Pronk Pops Show Podcasts

Pronk Pops Show 873: April 13, 2017

Pronk Pops Show 872: April 12, 2017

Pronk Pops Show 871: April 11, 2017

Pronk Pops Show 870: April 10, 2017

Pronk Pops Show 869: April 7, 2017

Pronk Pops Show 868: April 6, 2017

Pronk Pops Show 867: April 5, 2017

Pronk Pops Show 866: April 3, 2017

Pronk Pops Show 865: March 31, 2017

Pronk Pops Show 864: March 30, 2017

Pronk Pops Show 863: March 29, 2017

Pronk Pops Show 862: March 28, 2017

Pronk Pops Show 861: March 27, 2017

Pronk Pops Show 860: March 24, 2017

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Pronk Pops Show 858: March 22, 2017

Pronk Pops Show 857: March 21, 2017

Pronk Pops Show 856: March 20, 2017

Pronk Pops Show 855: March 10, 2017

Pronk Pops Show 854: March 9, 2017

Pronk Pops Show 853: March 8, 2017

Pronk Pops Show 852: March 6, 2017

Pronk Pops Show 851: March 3, 2017

Pronk Pops Show 850: March 2, 2017

Pronk Pops Show 849: March 1, 2017

Pronk Pops Show 848: February 28, 2017

Pronk Pops Show 847: February 27, 2017

Pronk Pops Show 846: February 24, 2017

Pronk Pops Show 845: February 23, 2017

Pronk Pops Show 844: February 22, 2017

Pronk Pops Show 843: February 21, 2017

Pronk Pops Show 842: February 20, 2017

Pronk Pops Show 841: February 17, 2017

Pronk Pops Show 840: February 16, 2017

Pronk Pops Show 839: February 15, 2017

Pronk Pops Show 838: February 14, 2017

Pronk Pops Show 837: February 13, 2017

Pronk Pops Show 836: February 10, 2017

Pronk Pops Show 835: February 9, 2017

Pronk Pops Show 834: February 8, 2017

Pronk Pops Show 833: February 7, 2017

Pronk Pops Show 832: February 6, 2017

Pronk Pops Show 831: February 3, 2017

Pronk Pops Show 830: February 2, 2017

Pronk Pops Show 829: February 1, 2017

Pronk Pops Show 828: January 31, 2017

Pronk Pops Show 827: January 30, 2017

Pronk Pops Show 826: January 27, 2017

Pronk Pops Show 825: January 26, 2017

Pronk Pops Show 824: January 25, 2017

Pronk Pops Show 823: January 24, 2017

Pronk Pops Show 822: January 23, 2017

Pronk Pops Show 821: January 20, 2017

Pronk Pops Show 820: January 19, 2017

Pronk Pops Show 819: January 18, 2017

Pronk Pops Show 818: January 17, 2017

Pronk Pops Show 817: January 13, 2017

Pronk Pops Show 816: January 12, 2017

Pronk Pops Show 815: January 11, 2017

Pronk Pops Show 814: January 10, 2017

Pronk Pops Show 813: January 9, 2017

Image result for mother of all bombs moab

Image result for nato countries and military spending

Image result for nato countries and military spending

 

 

Story 1: Made In America Terrorist Tested In Afghanistan — Mother of All Bombs — Who is Next? North Korea, Syria, Iran — Videos —

Image result for mother of all bombs moab

Image result for MOAB blast site in afganistan

OFFICIAL M.O.A.B FOOTAGE RELEASED (Afghans React to M.O.A.B Bomb) *Compilation 2017 HD*

OFFICIAL M.O.A.B FOOTAGE RELEASED (Afghans React to M.O.A.B Bomb) *Compilation 2017 HD*

Former UN Amb. Bolton on Afghanistan bombing: Magnitude roughly equivalent to small nuclear weapon

Lt. Col. Peters on Afghanistan bombing: A message to North Koreans

President Trump Statement on Dropping MOAB on ISIS 4/13/17

Breaking! U.S. Drops Largest Non-Nuclear Bomb on Afghanistan! “Mother of All Bombs”!

Trump Drops the ”Mother of All Bombs” in Afghanistan

WORLDS LARGEST Non-Nuclear Bomb GBU-43 B Massive Ordnance Air Blast

Published on Apr 13, 2017

Mother of all bombs GBU-43 B Massive Ordnance Air Blast.
U.S. on 04.11.2017 dropped the most powerful conventional bomb in its arsenal on Nangarhar, Afghanistan.
The bomb, known in military ranks as “MOAB,” or the “mother of all bombs,” was used Thursday for the first time in combat, though it was developed in the early 2000s.

Dr. Steve Pieczenik: Syria Strike Was A Message To China And North Korea

Can the U.S. handle the North Korea threat without China?

 

Children of Mother of All Bomb

Boeing Delivers Massive Ordnance Penetrator (MOP) 37,000 LB Bombs To The USAF – GBU-57

MOP Massive Ordnance Penetrator GBU-57A-B Penetrator bunker buster bomb Iran

Father of Mother of All Bombs — The Daisy Cutter

Image result for Daisy Cutter Bomb Explosion

Image result for Daisy Cutter Bomb Explosion

The Daisy Cutter in Vietnam

Desert Storm Daisy cutters 11 March 1991

The BLU 82 – [Daisy Cutter]

ISIS hammered as US drops biggest non-nuclear weapon ever: 21,000lb bomb is used in anger for the first time to obliterate jihadists’ caves in Afghanistan

  • U.S. dropped its largest non-nuclear weapon after targeting ISIS in Afghanistan
  • The GBU-43 bomb weighs 21,600 pounds, is 30 feet long, contains 11 tons of explosives and carries a mile-wide blast radius
  • It can create a blast crater more than 300 meters wide after being dropped from a Hercules MC-130 cargo plane
  • Trump pledged in 2015 that if he became president he would ‘bomb the s**t out of ‘ ISIS 
  • On Thursday he called the bombing ‘another successful job’ and said he had delegated strike authority to his military commanders
  • Pentagon denies that it was revenge for the death on Saturday of a Green Beret soldier in the same region of Pakistan 

The United States has dropped its largest non-nuclear weapon after it targeted ISIS a network of caves and tunnels in eastern Afghanistan.

U.S. forces used a GPS-guided GBU-43 bomb, which is 30 feet long and weighs a staggering 21,600 pounds.

It is known as the ‘Mother Of All Bombs’ – a play on ‘MOAB,’ an acronym that stands for ‘Massive Ordnance Air Burst.’

A crater left by the blast is believed to be more than 300 meters wide after it exploded six feet above the ground. Anyone at the blast site was vaporized.

President Donald Trump told reporters at the White House that he was ‘very, very proud’ and called the operation ‘really another successful job. We’re very, very proud of our military.’

The Pentagon is denying that the attack was a revenge strike despite the fact that it came in the same area of Afghanistan where a Green Beret soldier was killed on Saturday.

Staff Sgt. Mark De Alencar, of 7th Special Forces Group, was cut down by enemy small arms fire while his unit was conducting counter-ISIS operations.

The military used a GBU-43 (pictured), which weighs a staggering 21,600 pounds, and has earned the moniker 'Mother Of All Bombs

The military used a GBU-43 (pictured), which weighs a staggering 21,600 pounds, and has earned the moniker ‘Mother Of All Bombs

That MOAB's first practical test was carried out on March 11, 2003 at Eglin Air Force Base in Florida

That MOAB’s first practical test was carried out on March 11, 2003 at Eglin Air Force Base in Florida

President Donald Trump told reporters at the White House that he had authorized his military commanders to take actions like the one put into play on Thursday

President Donald Trump told reporters at the White House that he had authorized his military commanders to take actions like the one put into play on Thursday

Trump suggested he had not personally ordered the bomb strike but delegated authority to commanders in the field.

‘Everybody knows exactly what happened. So, what I do is I authorize my military … We have given them total authorization,’ he said.

The move marks the fulfilment of a 17-month-old campaign promise Trump delivered in Iowa, when he scoffed at ISIS terror forces and said he ‘would bomb the s**t out of them’ if he became president.

It also comes at a moment in the young Trump presidency when tensions are rising with Russia over its role in Syria, where ISIS has its headquarters.

Huge: The MOAB test fired in 2003 shortly before final preparations for it to be loaded onto an MC-130 attack aircraft

Huge: The MOAB test fired in 2003 shortly before final preparations for it to be loaded onto an MC-130 attack aircraft

Then-candidate Donald Trump told an Iowa audience in November 2015 that he would fight ISIS from the air as president: 'I would bomb the s**t out of them'

Then-candidate Donald Trump told an Iowa audience in November 2015 that he would fight ISIS from the air as president: ‘I would bomb the s**t out of them’

The explosion will also send a saber-rattling message to North Korea and Iran that rogue states’ nuclear-weapons ambitions could be met with brute force.

Trump said of North Korean dictator Kim Jong-Un: ‘I don’t know if this sends a message. It doesn’t make any difference if it does or not.’

‘North Korea’s a problem. The problem will be taken care of.’

The Department of Defense is denying that Thursday's attack was revenge for Saturday's death of Green Beret sergeant Mark De Alencar in the same region of Afghanistan

The Department of Defense is denying that Thursday’s attack was revenge for Saturday’s death of Green Beret sergeant Mark De Alencar in the same region of Afghanistan

White House press secretary Sean Spicer told reporters that MOAB is ‘a large, powerful and accurately delivered weapon’ whose use was intended to collapse underground spaces used by ISIS terrorists to move freely and attack U.S. and allied troops.

‘The United States takes the fight against ISIS seriously, and in order to defeat the group we must deny them operational space – which we did,’ Spicer said.

He referred reporters’ questions to the Pentagon and ignored a shouted question about whether Trump had been aware the bomb was dropped before or during the military operation.

Trump said during a November 2015 campaign rally in Fort Dodge, Iowa that ISIS was ‘making a tremendous amount of money’ because of ‘certain areas of oil that they took away’ after the Obama administration withdrew U.S. troops from Iraq and Afghanistan.

‘They have some in Syria, some in Iraq. I would bomb the s**t out of them,’ he said to wild cheers. ‘I would just bomb those suckers. That’s right. I’d blow up the pipes. … I’d blow up every single inch. There would be nothing left.’

Preparations: This was the scene as the only other MOAB to be exploded was readied for action in 2003 in Florida. The tail rotor is part of the guidance system for it to exploded over a specified target

Preparations: This was the scene as the only other MOAB to be exploded was readied for action in 2003 in Florida. The tail rotor is part of the guidance system for it to exploded over a specified target

Mushroom cloud: This was the aftermath of the test explosion seen outside Eglin Air Force Base in Fort Walton Beach, Florida

Mushroom cloud: This was the aftermath of the test explosion seen outside Eglin Air Force Base in Fort Walton Beach, Florida

 The MOAB was pushed out the back door of a giant cargo plane on Thursday, flying to its target with GPS guidance. A MOAB has only been exploded once before - in a 2003 test

 The MOAB was pushed out the back door of a giant cargo plane on Thursday, flying to its target with GPS guidance. A MOAB has only been exploded once before – in a 2003 test

A specialized MC-130 ‘Hercules’ cargo aircraft released the weapon at 7:00 p.m. local time.

It was too big to drop from a traditional bomb-bay door or release from an aircraft wing, so ‘we kicked it out the back door,’ a U.S. official told Fox News.

The weapon’s sheer power produces a blast that can be felt miles away, largely because of its construction.

Engineers used an unusually thin aluminum skin to encase MOAB’s payload, in order to avoid a thicker steel frame interfering with the impact on a target.

The U.S. fast-tracked the MOAB in 2003 for use in Operation Iraqi Freedom, but the Defense Department later decided that the enemy provided too little resistance to justify its deployment.

It was available to the Obama administration throughout the former president’s entire two terms, but he never deployed it in combat.

Its first practical test was carried out on March 11, 2003 at Eglin Air Force Base in Florida.

HOW ‘MOAB’ WORKS

Key stats:

  • Known as the ‘Mother Of All Bombs’
  • The U.S. military’s largest non-nuclear weapon
  • Each bomb costs around $16 million (£12.8 million)
  • Its explosion is equivalent to 11 tons of TNT and the blast radius is a mile wide
  • First tested by US forces in 2003
  • It is designed to destroy heavily reinforced targets or to shatter ground forces and armour across a large area
  • 30 feet (9 meters) long and 40 inches (1 meter) wide
  • Weighs 21,000lbs (9,500kg) – heavier than the Hiroshima nuclear bomb
  • Leaves no lasting radiation effect

How it’s deployed:

  • The bomb has ‘grid’ fins that fold into the body and then open up in flight to help control its descent
  • It can only be deployed out of the back of a large cargo plane due to its size
  • The bomb rides on a pallet, a parachute pulls the pallet and bomb out of the plane
  • The pallet then separates so that the bomb can fall to its target
  • It accelerates rapidly to its terminal velocity and is partially guided to its target via satellite
  • It explodes six feet (1.8 meters) above the ground
  • The idea behind this ‘airburst’ mechanism is to spread its destructive range

The weapon carries a blast wave that can be felt more than a mile away

The Pentagon confirmed Thursday that the explosive colossus was dropped in Afghanistan’s Nangarhar province, making it the first time America’s largest non-nuclear weapon has been used in a combat situation.

Pentagon spokesman Adam Stump said it was the first ever combat use of the bomb, which contains 11 tons of explosives.

Stump said the bomb was dropped on a cave complex believed to be used by ISIS fighters in the Achin district of Nangarhar province, very close to the border with Pakistan.

Gen. John Nicholson, commander of U.S. forces in Afghanistan, said in a statement about ISIS that ‘as ISIS-K’s losses have mounted, they are using IEDs, bunkers and tunnels to thicken their defense.’

‘This is the right munition to reduce these obstacles and maintain the momentum of our offensive against [ISIS-K].’

News reports suggest Nicholson made the decision to drop it from the sky.

He added that ‘[t]he strike was designed to minimize the risk to Afghan and U.S. Forces conducting clearing operations in the area while maximizing the destruction of ISIS-K fighters and facilities.’

The ISIS faction in Afghanistan is known as the Islamic State in Iraq and Syria-Khorasan province, or ISIS-K.

http://www.dailymail.co.uk/news/article-4409772/US-drops-biggest-non-nuclear-bomb-combat-time.html#ixzz4eAJVW5w0

 

Story 2: Trump To NATO Members: Pay You Bills (2% of GDP For Military Spending) — NATO Not Obsolete — Videos — 

Image result for nato countries and military spending

Image result for nato countries and military spending

Image result for nato countries and military spending

Image result for nato countries and military spending

Image result for nato countries and military spending

Image result for nato countries and military spending

Donald Trump “NATO is Largely Obsolete, It’s Got To Be Changed”

President Trump: I will work to enhance NATO

President Trump Holds a Joint Press Conference with Secretary General Stoltenberg

How Powerful Is NATO?

What is NATO?

Story 3: Russian Foreign Minister Sergei Lavrov To  United States Secretary of State Rex Tillerson — Show Us The Evidence of Chemical Gas Attack in Syria — Assad –“100% Fabrication” — Not Enough Evidence — Videos — 

Rex Tillerson holds joint news conference with Russian Foreign Minister after meeting Vladimir Putin…

Sec. Tillerson, Russian Minister Lavrov. News conference in Moscow. Syria. April 12. 2017

Russian President Vladimir Putin: US strike on Syria an act of war against Russia – LoneWolf

Gen. Jack Keane on Secretary Tillerson’s meeting with Putin

BREAKING NEWS 4/13/17: Assad Gives First Interview

Bashar al-Assad First Interview after chemical attack in syria: chemical attack was 100% fabrication

Ron Paul on Syria gas attack: ‘It doesn’t make sense. Zero chance Assad did this.’

What You Need to Know About Assad, Syria, Chemical Attacks and Potential Military Action

Evidence Suggests S-Y-R-I-A G-A-S ATTACK Is False Flag

Trump Orders Attack On Syria! Will Russia Respond? Is Trump Wrong?

TRUMP’S ATTACK ON SYRIA PART OF MUCH LARGER GLOBAL POLICY SHIFT

PUTIN SAYS SYRIA ATTACK IS A FALSE FLAG

BREAKING NEWS TRUMP 04/13/17: FOX NEWS SHOW THURSDAY

Story 4: Trump Will Not Name Communist China As Currency Manipulator –United States Is A Currency Manipulator — Video — 

A New Approach to Currency Manipulation?

How China’s devaluation impacts the U.S.

How Does China Manipulate Its Currency?

China’s Currency Manipulation

Donald Trump Economic Speech | Calls China as a Currency Manipulator | Monessen, PA | Mango News

Trump Tv | Japanese reporter asks Trump about China currency Manipulation | February 10 2017

Why Trump Should Stop Accusing China of Yuan Manipulation

Chinese Yuan Devaluation is an Act of War

C. Fred Bergsten on Currency Wars and US Economy

China’s Upward Currency Manipulation Might Have To End – FX Reserves Are Falling

It is a standard belief of many in the US, including the new President, Donald Trump, that China is a currency manipulator. This is true, China has indeed been manipulating the value of the yuan. However, contrary to popular belief it has, at least recently, been manipulating that value up against the American dollar, not down. This of course makes Chinese exports to America more expensive and reduces the trade deficit between the two countries. Not that simple facts tend to change many peoples’ beliefs about the economy of course.

However, this all might come to an end soon enough because China’s foreign currency reserves are falling as a result of their interventions. In fact, that those reserves are falling is the very evidence we need to show that they are intervening up, not down:

China’s foreign exchange reserves unexpectedly fell below the closely watched $3 trillion level in January for the first time in nearly six years, though tighter regulatory controls appeared to making some progress in slowing capital outflows. China has taken a raft of steps in recent months to make it harder to move money out of the country and to reassert a grip on its faltering currency, even as U.S. President Donald Trump steps up accusations that Beijing is keeping the yuan too cheap.

As we can see the general assumption in the financial markets, and the correct assumption too, is that China has been intervening to keep the value of the yuan up, not down. The major way it has been doing this being by limiting the amount that Chinese citizens can move out of the country:

Further erosion of the world’s largest stockpile may prompt policy makers again to tighten measures for controlling outflows and on companies transferring money to other countries. Authorities recently rolled out stricter requirements for citizens converting yuan into foreign currencies as the annual $50,000 foreign exchange quota for individuals reset Jan. 1.

For a capital outflow does indeed reduce the value of a currency:

China’s foreign exchange reserves fell below the $3 trillion mark for the first time in almost six years as capital continued to flow out of the world’s second-largest economy, data from the People’s Bank of China showed Tuesday.

The reserves fell by $12.31 billion from the previous month to $2.998 trillion, following a drop of $41.08 billion in December. Economists polled by The Wall Street Journal had expected a $1 billion decrease in January.

The reason a capital outflow does this should be obvious. Yuan work only in China. Thus, to take money out of China you must sell yuan and buy some other form of money. That sale reduces the value of the yuan (more of something for sale does usually mean a price fall) against those other currencies. And thus the truth of those accusations of currency manipulation. As we can see the Chinese government is placing restrictions on peoples’ ability to sell yuan. This is thus manipulation which keeps the value up, not such that pushes it down.

All of which leaves us with an interesting point. The general demand is that China stop manipulating the value of its currency. OK, so, let’s insist upon that. The value of the yuan will fall, Chinese exports to America will be cheaper and we might well then see an increase in the US trade deficit. Which isn’t really what the people complaining about manipulation want, is it? But it may well be what they’re about to get.

https://www.forbes.com/sites/timworstall/2017/02/07/chinas-upward-currency-manipulation-might-have-to-end-fx-reserves-are-falling/#49701dc0751c

Trump says he will not label China currency manipulator, reversing campaign promise

April 12

Trump called China a ‘currency manipulator.’ Does it deserve the label?

During his presidential campaign Trump talked tough on China, accusing them of undervaluing the yuan. The International Monetary Fund has said that Chinese currency is “no longer undervalued”. Does China still deserve to be called a “currency manipulator”?(Daron Taylor/The Washington Post)

President Trump on Wednesday said he would not label China a currency manipulator, contradicting one of the biggest economic promises he made on the campaign trail.

Trump told the Wall Street Journal that he had changed his mind because China is not currently manipulating its currency, adding that he hoped to enlist China’s help on containing the nuclear threat from North Korea.

Trump also indicated that he might be open to keeping Janet L. Yellen as Federal Reserve chair after her term expires. “I like her, I respect her. … It’s very early,” he said when asking about her reappointment.

Trump was highly critical of Yellen during the campaign. He accused her of keeping interest rates low to benefit the Obama administration and said she should be ashamed of herself. But Yellen has a reputation for being slow to raise interest rates, and Trump had also professed his preference for low interest rates in the past.

“I do like a low-interest rate policy, I must be honest with you,” he told the Journal, when asked about Yellen.

The president is also “very close” to naming a vice chair and filling another open seat that governs community banking on the Federal Reserve Board, Treasury Secretary Steven Mnuchin said during the interview.

In the interview, Trump also inveighed against the strong U.S. dollar, saying that the strength of the currency stemmed partially from people’s confidence in him, but that it was also hurting the economy.

“It’s very, very hard to compete when you have a strong dollar and other countries are devaluing their currency,” he said.

Eswar Prasad, a professor of international trade at Cornell University, said it was striking that a sitting president would comment so directly on the value of the dollar.

“It could also be taken as an implicit threat to other countries that if the dollar stays strong and if U.S. bilateral trade imbalances with its major trading partners stay high or continue to expand, that he will take some sort of action,” Prasad said.

The judgment on currency manipulation was scheduled to be released in a semiannual report from the Treasury Department that is due this week.

China defies international trade rules in some respects, economists say, but devaluing its currency is not currently one of them. While China suppressed the value of its currency for years to make its products cheaper abroad and boost its exports, for the past several years it has been intervening in currency markets to prop the yuan up, which actually benefits American exporters.

“Certainly for the past six months, which is the period notionally covered by the April 15 report, China has been intervening to raise the value of its currency, not to suppress it,” said Matthew Goodman, a former Treasury official who helped to label China a currency manipulator during the Clinton administration.

https://www.washingtonpost.com/graphics/politics/trump-promise-tracker/?promise=9

China was a favored target of Trump’s on the campaign trail. He often said the world’s second-largest economy was taking advantage of the U.S., and that he would respond on his first day in office by labeling China a currency manipulator. He has also said he would impose tariffs of up to 45 percent on China if the country does not negotiate better trade terms with the United States.

Labeling a country a currency manipulator triggers an investigation and can eventually lead to tariffs or other economically punitive measures.

But when Trump met with Chinese President Xi Jinping at Mar-a-Lago last week, the conversation was much more genial. The outcome of the talks was a 100-day plan to reevaluate the countries’ trading relationship, including trying to boost American exports to China.

President Trump met with China’s president on April 6, after months of criticizing China and promising big trade changes. From blasting China for currency manipulation to accusing them of “raping our economy,” here are some of his biggest blusters from the campaign trail. (Jenny Starrs/The Washington Post)

Has the United States mismanaged the ascent of China?

By April 15, the Treasury Department is required to present to Congress a report on the exchange rate policies of the country’s major trading partners, intended to identify manipulators that cheapen their currency to make their exports more attractive and gain market share in the United States, a designation that could eventually lead to retaliation.

It would be hard, these days, to find an economist who feels China fits the bill. Under a trade law passed in 2015, a country must meet three criteria: It would have to have a “material” trade surplus with the rest of the world, have a “significant” surplus with the United States, and intervene persistently in foreign exchange markets to push its currency in one direction.

While China’s surplus with the United States is pretty big — almost $350 billion — its global surplus is modest, at 2.4 percent of its gross domestic product last year. Most significant, it has been pushing its currency up, not down. Since the middle of 2014 it has sold over $1 trillion from its reserves to prop up the renminbi, under pressure from capital flight by Chinese companies and savers.

Even President Trump — who as a candidate promised to label China a currency manipulator on Day 1 and put a 45 percent tariff on imports of Chinese goods — seems to be backing away from broad, immediate retaliation.

 And yet the temptation remains. “When you talk about currency manipulation, when you talk about devaluations,” the Chinese “are world champions,” Mr. Trump told The Financial Times, ahead of the state visit of the Chinese leader, Xi Jinping, to the United States last week.

For all Mr. Trump’s random impulsiveness and bluster — and despite his lack of a coherent strategy to engage with what is likely soon to become the world’s biggest economy — he is not entirely alone with his views.

Many learned economists and policy experts ruefully acknowledge that the president’s intuition is broadly right: While labeling China a currency manipulator now would look ridiculous, the United States should have done it a long time ago.

“With the benefit of hindsight, China should have been named,” said Brad Setser, an expert on international economics and finance who worked in the Obama administration and is now at the Council on Foreign Relations.

A Changing Trade Picture

After suppressing its currency through 2014, China has turned to propping it up, and its trade surplus as a share of its economy has declined over the last decade.

There were reasonable arguments against putting China on the spot and starting a process that could eventually lead to American retaliation.

Yet by not pushing back against China’s currency manipulation, and allowing China to deploy an arsenal of trade tactics of dubious legality to increase exports to the United States, successive administrations — Republican and Democratic — arguably contributed to the economic dislocations that pummeled so many American workers over more than a decade. Those dislocations helped propel Mr. Trump to power.

From 2000 to 2014 China definitely suppressed the rise of the renminbi to maintain a competitive advantage for its exports, buying dollars hand over fist and adding $4 trillion to its foreign reserves over the period. Until 2005, the Chinese government kept the renminbi pegged to the dollar, following it down as the greenback slid against other major currencies starting in 2003.

American multinationals were flocking into China, taking advantage of its entry into the World Trade Organization in December 2001, which guaranteed access to the American and other world markets for its exports. By 2007, China’s broad trade surplus hit 10 percent of its gross domestic product — an unheard-of imbalance for an economy this large. And its surplus with the United States amounted to a full third of the American deficit with the world.

Though the requirement that the Treasury identify currency manipulators “gaining unfair competitive advantage in international trade” dates back to the Omnibus Trade and Competitiveness Act of 1988, China was never called out.

There were good reasons. Or at least they seemed so at the time. For one, China hands in the administration of George W. Bush argued that putting China on the spot would make negotiations more difficult, because even Chinese leaders who understood the need to allow their currency to rise could not be seen to bow to American pressure.

Labeling China a manipulator could have severely hindered progress in other areas of a complex bilateral economic relationship. And the United States had bigger fish to fry.

“There were other dimensions of China’s economic policies that were seen as more important to U.S. economic and business interests,” Eswar Prasad, who headed the China desk at the International Monetary Fund and is now a professor at Cornell, told me. These included “greater market access, better intellectual property rights protection, easier access to investment opportunities, etc.”

At the end of the day, economists argued at the time, Chinese exchange rate policies didn’t cost the United States much. After all, in 2007 the United States was operating at full employment. The trade deficit was because of Americans’ dismal savings rate and supercharged consumption, not a cheap renminbi. After all, if Americans wanted to consume more than they created, they had to get it somewhere.

Photo

Shi Guangsheng, seated, then the Chinese trade minister, signing documents admitting China to the World Trade Organization at a ceremony in Qatar in 2001. CreditRabih Moghrabi/Agence France-Presse

And the United States had a stake in China’s rise. A crucial strategic goal of American foreign policy since Mao’s death had been how to peacefully incorporate China into the existing order of free-market economies, bound by international law into the fabric of the postwar multilateral institutions.

And the strategy even worked — a little bit. China did allow its currency to rise a little from 2005 to 2008. And when the financial crisis hit, it took the foot off the export pedal and deployed a giant fiscal stimulus, which bolstered internal demand.

Yet though these arguments may all be true, they omitted an important consideration: The overhaul of the world economy imposed by China’s global rise also created losers.

In a set of influential papers that have come to inform the thinking about the United States’ relations with China, David Autor, Daron Acemoglu and Brendan Price from the Massachusetts Institute of Technology; Gordon Hanson from the University of California, San Diego; and David Dorn from the University of Zurich concluded that lots of American workers, in many communities, suffered a blow from which they never recovered.

Rising Chinese imports from 1999 to 2011 cost up to 2.4 million American jobs, one paper estimated. Another found that sagging wages in local labor markets exposed to Chinese competition reduced earnings by $213 per adult per year.

Economic theory posited that a developed country like the United States would adjust to import competition by moving workers into more advanced industries that competed successfully in global markets. In the real world of American workers exposed to the rush of imports after China erupted onto world markets, the adjustment didn’t happen.

If mediocre job prospects and low wages didn’t stop American families from consuming, it was because the American financial system was flush with Chinese cash and willing to lend, financing their homes and refinancing them to buy the furniture. But that equilibrium didn’t end well either, did it?

What it left was a lot of betrayed anger floating around among many Americans on the wrong end of these dynamics. “By not following the law, the administration sent a political signal that the U.S. wouldn’t stand up to Chinese cheating,” said Edward Alden, a senior fellow at the Council on Foreign Relations. “As we can see now, that hurt in terms of maintaining political support for open trade.”

If there was a winner from this dynamic, it was Mr. Trump.

Will Mr. Trump really go after China? In addition to an expected executive order to retaliate against the dumping of Chinese steel, he has promised more. He could tinker with the definitions of “material” and “significant” trade surpluses to justify a manipulation charge.

And yet a charge of manipulation would add irony upon irony. “It would be incredibly ironic not to have named China a manipulator when it was manipulating, and name it when it is not,” Mr. Setser told me. And Mr. Trump would be retaliating against the economic dynamic that handed him the presidency.

China is No Longer Manipulating its Currency

C. Fred Bergsten (PIIE)

November 18, 2016 9:45 AM

US President-elect Donald Trump has vowed to instruct his Secretary of the Treasury to label China a currency manipulator on his first day in office, just as Republican presidential candidate Mitt Romney did in 2012. He would then presumably seek to negotiate with the Chinese to reduce their large trade surplus, which equals roughly half the total US trade deficit of about $500 billion, under the threat of limiting imports unilaterally if they failed to cooperate (and risking retaliation against US exports). A declining US trade deficit, if it could be achieved, would increase US economic growth. But China has not manipulated its currency, the renminbi, for the past two years, and even an erroneous designation would not enable the new president to take any retaliatory trade actions.

China was the champion currency manipulator of all time from 2003 through 2014. During this “decade of manipulation,” China bought more than $300 billion annually to resist upward movement of its currency by artificially keeping the exchange rate of the dollar strong and the renminbi’s exchange rate weak. China’s competitive position was thus strengthened by as much as 30 to 40 percent at the peak of the intervention. Currency manipulation explained most of China’s large trade surpluses, which reached a staggering 10 percent of its entire GDP in 2007.

China was not the only manipulator. A number of other Asian economies, including Taiwan and Hong Kong, also intervened regularly to keep from losing their competitive position to China (and thus to the United States as well). A few others, including Japan and Korea, intervened occasionally as well.

Naming a country a manipulator, however, has no significant operational consequences (which is one of the reasons it has not been done in recent years). The relevant US law, dating from 1988, requires only that the Secretary of the Treasury launch a negotiation with the indicted countries in an effort to rectify the situation. Trump and his advisors have suggested they would use a designation to impose new import restrictions against China, up to the level of the renminbi undervaluation that resulted, but they would have to invoke other US statutes to justify such action. (Regardless of manipulation, the administration might authorize the Commerce Department to apply countervailing duties against imports that were subsidized by undervalued exchange rates in China and elsewhere; this would probably run afoul of US obligations in the World Trade Organization, however, and might also be challenged domestically unless Congress explicitly authorized such treatment.)

I was among the first to call attention to the manipulation by the Chinese and others and to advocate strong action to counter it, but it must be recognized that the situation has changed dramatically over the past two years. China has experienced large outflows of private capital that have driven its exchange rate down and indeed sparked market fears of disorderly renminbi devaluations. To their credit, the Chinese have intervened heavily on the opposite side of the market: Instead of buying dollars to keep the renminbi weak, they have sold large amounts of dollars to prevent it from sliding further. Their recent intervention has promoted US competitiveness rather than undermined it. Manipulation (including by other countries) has passed largely into remission.

It would thus be factually incorrect, as well as ineffectual, for the new Trump administration to label China a currency manipulator (and the Chinese might well refuse to negotiate under such circumstances). Indeed, the White House would be running counter to the thrust of the new US currency law (although it could still label a country as a “manipulator,” even if it did not meet the terms of that law). The Trade Facilitation and Trade Enforcement Act of 2015 spells out three criteria for identifying a country for currency misbehavior:

  • a large bilateral trade surplus with the United States, which China has;
  • a material global current account surplus, which the Treasury Department interprets as meaning more than 3 percent of a country’s GDP, a bit more than China is now running; and
  • “persistent one-sided intervention” in the currency markets, to keep its exchange rate from rising, which China is clearly not conducting.

These tests would have caught China for eight consecutive years, from 2003 through 2010, but Treasury currently has placed China only on a “monitoring list” along with five others that meet at least two of the criteria or have met them in the recent past. There is always a possibility that China (and others) could resume the competitive nonappreciation of the earlier period if market pressure again pushed the renminbi upward, especially if China’s economic reforms faltered and its growth rate sank below the new target of 7 percent. So we cannot be confident that the problem has been definitively resolved.

Indeed, it would be desirable for the Trump administration to add a new tool to the US policy arsenal, to ensure the problem will not resurface, by announcing that the United States will counter any future manipulation by others with offsetting intervention of its own. If China buys $1 billion in an effort to keep the dollar artificially strong, the United States could buy $1 billion worth of renminbi to neutralize any impact of the Chinese action on the exchange rate between the two currencies. The Chinese currency and bond markets are now large enough to permit any foreseeable level of US intervention that might be needed. But simply the announcement of a policy of such “countervailing currency intervention” would almost surely deter future manipulation efforts, requiring very little if any actual activity. It should thus prolong the current remission of manipulation indefinitely. The Senate passed a bill authorizing “remedial currency intervention” in 2011, but the policy could be adopted under current law.

Trump’s economic team may decide to address a number of Chinese policies that support its exports and impede its imports, in an effort to reduce the Chinese surplus and the US deficit, as its predecessors have done for many years. There are several US statutes that provide a basis for doing so. Currency manipulation is not one of these, however, especially at the present time. The new administration should look for alternative paths to any immediate action while shoring up the country’s defenses against possible recrudescence of currency aggression in the future.

C. Fred Bergsten is senior fellow and director emeritus of the Peterson Institute for International Economics. He was the founding director of the Institute from 1981 through 2012. He was previously assistant secretary of the Treasury for International Affairs and is coauthor, with Joseph E. Gagnon, of the forthcoming Institute book Currency Conflict and Trade Policy: A New Strategy for the United States.

https://piie.com/blogs/trade-investment-policy-watch/china-no-longer-manipulating-its-currency

Story 5: Trump Favors Fed Chair Yellen’s Unconventional Accommodating Easy Money Policy — Government Intervention in Money Markets — Financial Repression of American Savers — Videos

Trump Says Dollar ‘getting too strong’

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Trump’s base turns on him

Steve Bannon’s downgrade is just one of many complaints. ‘We expect him to keep his word, and right now he’s not keeping his word,’ says one campaign supporter.

04/13/17 02:21 PM EDT

Donald Trump is pictured. | Getty
The swiftness and abruptness of Trump’s shift from bomb-throwing populist outsider to a more mainstream brand of Republican has taken the president’s stalwarts by surprise. | Getty
 Donald Trump’s true believers are losing the faith.

As Trump struggles to keep his campaign promises and flirts with political moderation, his most steadfast supporters — from veteran advisers to anti-immigration activists to the volunteers who dropped their jobs to help elect him — are increasingly dismayed by the direction of his presidency.

Their complaints range from Trump’s embrace of an interventionist foreign policy to his less hawkish tone on China to, most recently, his marginalization of his nationalist chief strategist, Steve Bannon. But the crux of their disillusionment, interviews with nearly two dozen Trump loyalists reveal, is a belief that Trump the candidate bears little resemblance to Trump the president. He’s failing, in their view, to deliver on his promise of a transformative “America First” agenda driven by hard-edged populism.

“Donald Trump dropped an emotional anchor. He captured how Americans feel,” said Tania Vojvodic, a fervent Trump supporter who founded one of his first campaign volunteer networks. “We expect him to keep his word, and right now he’s not keeping his word.”

Earlier this week, Vojvodic launched a Facebook group called, “The concerned support base of President Trump,” which quickly drew several dozen sign-ups. She also changed the banner on her Facebook page to a picture of Bannon accompanied by the declaration: “Mr. President: I stand with Steve Bannon.”

“I’m not so infatuated with Trump that I can’t see the facts,” she said. “People’s belief, their trust in him, it’s declining.”

The swiftness and abruptness of Trump’s shift from bomb-throwing populist outsider to a more mainstream brand of Republican has taken the president’s stalwarts by surprise.

http://www.politico.com/story/2017/04/trump-base-supporters-turn-on-him-237200

“It was like, here’s the chance to do something different. And that’s why people’s hopes are dashed,” said Lee Stranahan, who, as a former writer at Breitbart News, once worked with Bannon. “There was always the question of, ‘Did he really believe this stuff?’ Apparently, the answer is, ‘Not as much as you’d like.’”

The White House did not respond to a request for comment.

The deflation of Trump’s base threatens to further weaken a president who’s already seen his public support drop to historic lows. Frustration among the president’s allies has intensified in recent days, with many expressing worry that Bannon, the intellectual pillar of the nationalist movement that catapulted Trump to the presidency, is being pushed out.

As Bannon’s influence wanes, on the rise is a small group of Wall Street-connected advisers whose politically moderate and globalist views are anathema to the populist cause.

The palace intrigue intensified this week after Trump refused to say he still had confidence in Bannon and downplayed the former Breitbart chairman’s role in his campaign victory. And it’s feeding suspicions that the president is changing his priorities.

Rep. Steve King (R-Iowa), one of the president’s most vocal backers on Capitol Hill, said he’s been disheartened by the chief strategist’s isolation.

“A lot of us look at Steve Bannon as the voice of conservatism in the White House,” said King, who has known Bannon for years.

The displeasure over Bannon’s reduced status has trickled down to Trump’s grass-roots army of volunteers. Among those unsettled is Shane Bouvet, a 24-year-old campaign volunteer and blue-collar single father from Illinois who became something of a hero in the Trump movement. On the eve of the inauguration, Trump, who had read about how Bouvet trekked across the country by car so he could watch the swearing-in, gave him a check for $10,000.

Bouvet later said the gift saved the life of his father, who was battling cancer and needed the money to cover medical costs.

That day, Bouvet also was introduced to Bannon. The two spoke briefly, and Bouvet came to identify with the adviser who, like him, represented a “forgotten America” that Trump had appealed to with his blue-collar pitch. He said in an interview that he still supports the president, but is troubled by reports that Bannon is on the outs and that senior adviser Jared Kushner, a New York City real estate scion, is accumulating influence.

“I see a lot of people upset about his role,” Bouvet said of Bannon.

“I love our president,” he added. “I would tell him, follow his heart instead of whispers in his ears.”

On his South Florida-based radio show, Trump backer John Cardillo has begun to hear from listeners who are disillusioned with the rising influence of moderate staffers like Kushner and Gary Cohn, the Goldman Sachs executive-turned-Trump economic adviser.

For Cardillo, too, it’s been a letdown. During the 2016 Republican primary, he was attracted to Trump because of his insurgent streak. As a former New York City police officer, Cardillo identified with the candidate’s blue-collar style. He fell hard and got aboard the Trump train early, backing the insurgent candidate over home-state favorite Marco Rubio.

Trump voters “felt like they were voting for an anti-establishment candidate — and they’re terrified, they’re losing faith,” Cardillo said. “They’re saying, ‘Why does he have these people around him?’”

The gripes go beyond Bannon’s apparent downgrade. Many of Trump’s most stalwart supporters, including radio show hosts Michael Savage and Laura Ingraham, called last week’s bombing of Syria a betrayal of Trump’s pledge to be an “America First” commander in chief who would avoid unnecessary conflicts overseas.

Concerns about Trump’s foreign policy approach intensified on Wednesday when he backed away from his oft-repeated campaign line that NATO is “obsolete.” Instead, during an appearance with NATO Secretary General Jens Stoltenberg, Trump called the organization a “great alliance.”

Howie Carr, an influential Boston radio show host and a vocal Trump backer, said he’s been mostly satisfied with the president’s tenure so far. But he said he and his listeners weren’t on board with the Syria bombing and warned against a U.S.-led push to overthrow Syrian President Bashar Assad.

“People are concerned because it’s such a morass over there,” Carr said. “I don’t think any of my listeners have any great stomach for overthrowing Assad, as odious as he is.”

Other Trump boosters worry that he’s ditching his economic agenda. They wonder why he backed off his vow to label
China a currency manipulator, and are chagrined by his reversal on his position to eliminate the Export-Import Bank.

On Thursday, White House press secretary Sean Spicer took issue with the premise that Trump’s switch on labeling China a currency manipulator amounted to abandoning a campaign promise.

“The president’s tough talk … on a variety of subjects was to get results for the American people. That’s what he has pledged to do, to get more jobs here, to grow more manufacturing, to keep our country safe,” Spicer told reporters. “At the end of the day, this is always about developing a better situation for the American people, and I think he’s done that.”

Still others are concerned about Trump’s lack of progress on reforming the tax code.

Larry Kudlow, a veteran economist who advised Trump’s campaign, expressed dismay that the president hadn’t yet released a tax plan. He said he was beginning to wonder whether the president is about to walk back his pledge to cut taxes.

“What is their product?” Kudlow asked. “It doesn’t make any sense to me. I’m not giving up hope. But it’s looking very shaky to me.”

Conservative economist Stephen Moore, who also advised the Trump campaign, said he’s reached out to the White House about the lack of a tax package.

“They’re all over the map,” he said. “I don’t know if they’re listening or not.”

Then there’s immigration, the issue that catapulted Trump to front-runner status. Activists are increasingly alarmed that the president has yet to follow through on his pledge to rescind protections for undocumented parents and children put in place under former President Barack Obama.

Brenda Sparks, an “angel mom” whose son was killed by an illegal immigrant, appeared onstage with Trump at an August campaign event in Phoenix. She said he promised her that he would overturn the program known Deferred Action for Childhood Arrivals, or DACA, in short order.

While Sparks said she didn’t think it would be done immediately, “I had expected it before now.”

“I still support Trump, but I’m going to hold his feet to the fire,” she said. “He has not lived up to that promise.”

Michelle Dallacroce, an anti-immigration activist, is more pointed. Immigration is “why we voted for Donald Trump,” she said. “This could be the most elaborate reality show. I’m wondering, was this all an illusion for us, using our movement so he could get in there?”

Trump is hardly the first president to get crosswise with his supporters. After running on a promise to infuse Washington with change, Barack Obama faced sharp accusations from backers that he was moving too slowly to change the culture of the capitol. Governing, Obama learned, is a lot different than campaigning.

Not all of the president’s backers are disappointed. They point to his successful nomination of Supreme Court Justice Neil Gorsuch and his rollback of environmental regulations as early wins.

“There’s always going to be things that aren’t perfect, but it’s exciting,” said Ed Martin, a conservative leader in Missouri.

But as Trump evolves, some of his loyalists are beginning to compare him to another Republican who lost the support of the party’s base: Arnold Schwarzenegger. After being elected California governor in 2003, the former movie star took on entrenched Democratic interests, lost badly, then tacked sharply to the left.

http://www.politico.com/story/2017/04/trump-base-supporters-turn-on-him-237200

This week, some Trump die-hards passed around a column by conservative commentator Kurt Schlichter headlined: “Trump Can’t Let His Real or His Fake Friends Turn Him into Schwarzenegger Part 2.”

Schlichter, in an interview, said conservatives are fundamentally distrustful of Republican politicians who had often misled them. He urged the president to take some immediate actions, however small, to put his supporters at ease.

“You’ve got to understand the base. It’s like dating a girl whose father cheated on her mother. She’s always going to be suspicious,” he said. “He’s got to constantly provide wins because he’s got an emotionally damaged base that’s been abused.”

Within Trump’s inner circle, a moderate voice captures the president’s ear

April 13 at 7:58 PM
As power struggles and ideological battles engulfed the White House, an unlikely player is exercising new influence on the direction of President Trump’s administration.Gary Cohn, a former Goldman Sachs president, is capitalizing on his new position as director of Trump’s National Economic Council to push a centrist vision and court bipartisan support on some of Trump’s top agenda items such as tax reform and a $1 trillion infrastructure plan.The growing strength of Cohn and like-minded moderates was on display this week as Trump reversed himself on several high-profile issues — including a less confrontational approach to China, an endorsement of government subsidies for exports and the current leadership of the Federal Reserve. The president’s new positions move him much closer to the views of Cohn and others on Wall Street, not to mention mainstream Republicans and Democrats.It was the clearest sign yet that an alliance of moderates in the White House — including Cohn; senior adviser Jared Kushner, the president’s son-in-law; and another influential Goldman Sachs alumna, Dina Powell — is racking up successes in a battle over ideology and control with hardcore conservatives led by chief strategist Stephen K. Bannon, who held sway at the start of the administration.In a White House short on experienced personnel, Cohn has found an edge by hiring two dozen policy experts, most with government experience. His team produced detailed proposals on overhauling the tax code, rebuilding infrastructure, cutting back financial regulations and restructuring international trade deals. He is widely considered a future candidate to be chief of staff.

“Cohn might be a newbie to policy and Washington, but you have to give him credit for one thing,” said Gene Sperling, who held Cohn’s job during the Obama administration. “While others seemed engaged in ideological and ‘House of Cards’-like staff warfare, he quietly and quickly focused on the first rule of governing: He hired some competent, professional staff at the NEC, and it has paid off for him.”

Cohn now finds himself in the awkward — and politically risky — position of being praised by Democrats but shunned by conservative allies of Trump who see the former Goldman Sachs executive as anathema to the values that got Trump elected.

“From a pure political perspective, I do not know if the White House appreciates how Gary Cohn is a liability with the Republican and conservative base, as well as the Republican Congress,” said Sam Nunberg, a strategist on Trump’s 2016 campaign. “The Trump White House will always be held in suspicion when you have someone who’s consolidated full economic power in the White House who is also a liberal, New York Democrat.”

Cohn has been getting flak in the conservative media as he has risen in profile. Rush Limbaugh last week called him “a very ideological liberal Democrat” and a “trader at Goldman Sachs.” He expressed concern that Cohn and his allies in the White House “are starting to have sway” at Bannon’s expense.

Cohn, who declined to comment for this article, has given thousands of dollars to candidates from both parties, including President Barack Obama and former candidate Hillary Clinton.

White House aides say Cohn has done well because Trump sees him, more than anything else, as a dealmaker. Cohn represents a bloc of White House officials who are working harder than before to court Democratic support for key parts of Trump’s agenda, having seen the Republican Party splinter during the health-care debate.

“I’m not a Democrat, and I’m not a Republican,” Cohn often says in meetings with business executives, according to two people familiar with his exchanges. “I just want to get things done.”

People who have met with Cohn in his new role said they weren’t aware of what his ideology was. He just seemed driven to forge agreements.

That philosophy has led Cohn to show enthusiasm for ideas such as a new tax on carbon — a Democrat-friendly idea which would raise revenue to ease tax reform, a top presidential priority, while also helping to curb carbon emissions. The idea is ridiculed by many conservatives on Capitol Hill, and the White House rapidly distanced itself last week after word leaked that senior officials were studying the concept.

“I think the National Economic Council has done a terrible job,” said Larry Kudlow, who was one of Trump’s top economic advisers during the campaign. “It’s the NEC’s job to put a plan together and show the president options and make decisions. So far, I would say they are way behind the eight ball.”

But even as the legislative agenda struggles to gain momentum, Cohn and his allies are having a clear impact on the president’s thinking. In the past week, Trump reversed his earlier statements and said he supported the Export-Import Bank, would not declare China a “currency manipulator” and said flattering things about Federal Reserve Board Chair Janet L. Yellen.

Conservatives took aim at the Ex-Im Bank and the Fed throughout much of Obama’s term, while Trump, as part of his tough trade rhetoric, promised to go after China’s currency practices on Day One of his administration.

Cohn’s stature among the top advisers is notable because he is one of the few who played no role in the campaign. Cohn, who grew up in a middle-class family and struggled in a number of schools because of dyslexia, graduated from American University and took a job with U.S. Steel in Ohio. During a trip to New York, he coaxed a well-dressed senior Wall Street executive into sharing a cab with him to the airport, acting as if he knew financial markets (he knew virtually nothing), according to an interview he gave author Malcolm Gladwell. Cohn schmoozed his way into his first Wall Street job and then climbed the ranks, eventually becoming Goldman’s president and chief operating officer.

While friends say he loves his new job, they say Cohn also holds the traditions of Washington in low regard.

At a recent dinner with friends in New York, he called Washington a “s—show,” according to a person familiar with the exchange.

Cohn has not tried to shirk his past at Goldman Sachs or hide his lavish lifestyle. He recently had drinks at the Four Seasons with Goldman Sachs chief executive Lloyd Blankfein, and shortly after the failure of the House GOP health-care legislation, he went on vacation in the Bahamas.

If he is able to deflect the growing criticism from hardcore conservatives, White House officials say Cohn will have a strong future as a Trump adviser given his experience and the deep bench of experts he has established.

This includes DJ Gribbin, an infrastructure expert, and Shahira Knight, a former congressional aide on tax policy who joined the White House from Fidelity Investments.

Other top members of the team include Kenneth Juster, who is slated to play a top White House role in international negotiations; Jeremy Katz, a former White House official in the George W. Bush administration; and Ray Starling, who works on agriculture issues and was formerly the general counsel for the North Carolina Department of Agriculture and Consumer Services.

While Cohn has met with lawmakers from both parties and executives from numerous companies in his role, he rarely telegraphs what the White House plans to do.

One exception came last week, when — during a gathering of chief executives — he went into great detail about how the U.S. air-traffic-control system needed to be reworked.

He quickly moved through a technical discussion on why the United States should scrap its land-based radar system and adopt a global-positioning system, suggesting he had already devoted time to the topic. He said their approach would save 25 percent of the jet fuel consumed each year.

“We are going to cut flight times down fairly dramatically,” he told the executives. “We are going to cut the experience down. We are going to cut tarmac time down.”

His penchant for dealmaking has even attracted the admiration of Office of Management and Budget Director Mick Mulvaney, a tough fiscal conservative and longtime critic of government spending. Cohn, working to fulfill Trump’s pledge to spend billions to rebuild infrastructure, has toyed with an idea that would pair $200 billion in taxpayer money with $800 billion in additional funds, mostly from private investors.

“You’ve got to give these Goldman Sachs guys credit,” Mulvaney said this week on CNBC about Cohn’s plan. “They know how to lever up.”

https://www.washingtonpost.com/business/economy/within-trumps-inner-circle-a-moderate-voice-captures-the-presidents-ear/2017/04/13/7a7f87b0-1fa7-11e7-be2a-3a1fb24d4671_story.html?utm_term=.0024e13db393

Steve Bannon

From Wikipedia, the free encyclopedia
  (Redirected from Steve bannon)
Steve Bannon
Steve Bannon by Gage Skidmore.jpg

Bannon at the 2017 CPAC
White House Chief Strategist
Assumed office
January 20, 2017
President Donald Trump
Preceded by Position established
Senior Counselor to the President
Assumed office
January 20, 2017
Serving with Kellyanne Conway
(Counselor to the President)
President Donald Trump
Preceded by John Podesta (2015)
Personal details
Born Stephen Kevin Bannon
November 27, 1953 (age 63)
Norfolk, Virginia, U.S.
Political party Republican
Spouse(s) Cathleen Houff Jordan
(divorced)
Mary Piccard (1995–1997)
Diane Clohesy (divorced 2009)
Children 3
Education Virginia Tech (BA)
Georgetown University (MA)
Harvard University (MBA)
Military service
Allegiance  United States
Service/branch  United States Navy
Years of service 1976–1983
Rank Lieutenant (O-3)[1][a]

Stephen Kevin “Steve” Bannon (born November 27, 1953) is an American political aide, and former media executive and film producer, who is currently the White House Chief Strategist in the Trump administration.[2] In this capacity, he attended the Principals Committee of the U.S. National Security Council from January 28, 2017[3] to April 5, 2017.[4][5]

On August 17, 2016, in the later months of the campaign, Bannon joined the Donald Trump’s 2016 presidential bid, taking the position of chief executive officer.[6][7] Prior to taking a leave of absence in August 2016, he had been executive chair of Breitbart News, a far-right[i] news, opinion, and commentary website[17][18] which he described in 2016 as “the platform for the alt-right“.[I]

Bannon was previously a US Navy officer, a Goldman Sachs banker, a radio host, a research director, a film producer and then a media executive. He was an officer in the United States Navy for seven years in the late 1970s and early 1980s, serving on the destroyer USS Paul F. Foster as well as at the Pentagon. After his military service, he worked at Goldman Sachs as an investment banker in the Mergers and Acquisitions Department. When he left the company, Bannon held the position of vice president. In 1993, he was made acting director of the Earth-science research project Biosphere 2. In the 1990s, he became an executive producer in the Hollywood film and media industry and has produced 18 films since 1991.

Early life, family and education

Stephen Kevin Bannon was born on November 27, 1953, in Norfolk, Virginia, to Doris (née Herr) and Martin Bannon, a telephone lineman, later in middle management.[26][27] His working class, Irish Catholic family was pro-Kennedy, pro-union Democrat.[28][29] After serving as president of the student government association,[30] he graduated from Virginia Tech in 1976 with a bachelor’s degree in urban planning and holds a master’s degree in national security studies from Georgetown University School of Foreign Service. In 1985,[33] Bannon received a Master of Business Administration degree with honors[34] from Harvard Business School.[35]

Service as naval officer

Bannon was an officer in the United States Navy for seven years in the late 1970s and early 1980s, serving on the destroyer USS Paul F. Foster as a surface warfare officer in the Pacific Fleet and, afterwards stateside as a special assistant to the Chief of Naval Operations at the Pentagon.[36] Bannon’s job at the Pentagon were among other things handling messages between senior officers and writing reports about the state of the Navy fleet worldwide.[37]

Upon his departure he was ranked as a lieutenant (O-3).[1][a]

Business career

Investment banking

After his military service, Bannon worked at Goldman Sachs as an investment banker in the Mergers and Acquisitions Department.[39] When he left the company he held the position of vice president.[40][b]

In 1990, Bannon and several colleagues from Goldman Sachs launched Bannon & Co., a boutique investment bank specializing in media. In one of Bannon & Co.’s transactions, the firm represented Westinghouse Electric which wanted to sell Castle Rock Entertainment.[34] Bannon negotiated a sale of Castle Rock to CNN, which was owned by Ted Turner at the time.[42]Instead of a full adviser’s fee, Bannon & Co. accepted a financial stake in five television shows, including Seinfeld, which was in its third season. Bannon still receives cash residuals each time Seinfeld is aired.[42] Société Générale purchased Bannon & Co. in 1998.[34]

Earth science

In 1993, while still managing Bannon & Co., Bannon was made acting director of the Earth-science research project Biosphere 2 in Oracle, Arizona. Under Bannon, the closed-system experiment project shifted emphasis from researching human space exploration and colonization toward the scientific study of earth’s environment, pollution and climate change. He left the project in 1995.[43][44]

Entertainment and media

Bannon in 2010

In the 1990s, Bannon ventured into the entertainment and media industry. He became an executive producer in the Hollywood film and media industry. Bannon produced 18 films,[27] from the 1991 Sean Penn drama The Indian Runner to Julie Taymor‘s 1999 film Titus. Bannon became a partner with entertainment industry executive Jeff Kwatinetz at The Firm, Inc., a film and television management company.[34]

In 2004, Bannon made a documentary about Ronald Reagan titled In the Face of Evil. Through the making and screening of this film, Bannon was introduced to Reagan’s War author Peter Schweizer and publisher Andrew Breitbart, who would later describe him as the Leni Riefenstahl of the Tea Party movement.[34] He was involved in the financing and production of a number of films, including Fire from the Heartland: The Awakening of the Conservative Woman, The Undefeated, and Occupy Unmasked.

Bannon persuaded Goldman Sachs to invest, in 2006, in a company known as Internet Gaming Entertainment.[45] Following a lawsuit, the company rebranded as Affinity Media and Bannon took over as CEO. From 2007 through 2011, Bannon was the chair and CEO of Affinity Media.[46][47]

In 2007, Bannon wrote an eight-page treatment for a new documentary called Destroying the Great Satan: The Rise of Islamic Facism (sic) in America. The outline describes Council on American-Islamic Relations and the Islamic Society of North America as “cultural jihadists” and describes the Washington Post, the New York Times, NPR, “Universities and the Left”, the “American Jewish Community“, the ACLU, the CIA, the FBI, the State Department, and the White House as “enablers” of a covert mission to establish an Islamic Republic in the United States.[48] In 2011, Bannon spoke at the “Liberty Restoration Foundation” in Orlando, Florida about the Economic Crisis of 2008, the Troubled Assets Relief Program and their impact in the origins of the Tea Party movement, while also discussing his films Generation Zero and The Undefeated.[49]

Bannon was executive chair and co-founder of the Government Accountability Institute, a tax-exempt 501(c)(3) organization, where he helped orchestrate the publication of Breitbart News senior editor-at-large[50] Peter Schweizer’s book Clinton Cash,[34][51] from its founding in 2012 until he left in August 2016.[52] For the years 2012 through 2015, he received between $81,000 and $100,000 each year; the organization reported that he worked an average of 30 hours per week for the organization.[52] He has also worked as vice president of Cambridge Analytica‘s board, a data-analytics firm owned largely by the Mercer family;[53] said family are also co-owners of Breitbart News.[54]

In 2015, Bannon was ranked No. 19 on Mediaite‘s list of the “25 Most Influential in Political News Media 2015”.[55]

Bannon also hosted a radio show (Breitbart News Daily) on the SiriusXM Patriot satellite radio channel.[56]

Breitbart News

Main article: Breitbart News

Bannon was a founding member of the board of Breitbart News,[57] an online far-right news, opinion and commentary website which, according to Philip Elliott and Zeke J. Miller of Time, has “pushed racist, sexist, xenophobic and anti-Semitic material into the vein of the alternative right“.[17]

In March 2012, after founder Andrew Breitbart‘s death, Bannon became executive chair of Breitbart News LLC, the parent company of Breitbart News.[58][59][60] Under his leadership, Breitbart took a more alt-right and nationalistic approach toward its agenda.[61] Bannon declared the website “the platform for the alt-right” in 2016.[19] Bannon identifies as a conservative.[62][63][64] Speaking about his role at Breitbart, Bannon said: “We think of ourselves as virulently anti-establishment, particularly ‘anti-‘ the permanent political class.”[65]

In 2016, Ronald Radosh claimed in The Daily Beast that Bannon had told him earlier, in a book party on November 12, 2013, that he was a Leninist, in that “Lenin wanted to destroy the state, and that’s my goal too. I want to bring everything crashing down, and destroy all of today’s establishment”.[66] While Snopes considers this claim unproven,[67] other media such as Time magazine and The Guardian have reported or discussed it.[68][69]

In a 2014 speech to a Vatican conference, Bannon made a passing reference to Julius Evola, a twentieth-century, Nazi-linked Italian writer who influenced Mussolini‘s Italian Fascism and promoted the Traditionalist School, described by a New York Times writer as “a worldview popular in far-right and alternative religious circles that believes progress and equality are poisonous illusions.”[70] In referring to the associated views of Vladimir Putin, who is influenced by Evola follower Aleksandr Dugin, Bannon stated “We, the Judeo-Christian West, really have to look at what he’s talking about as far as Traditionalism goes — particularly the sense of where it supports the underpinnings of nationalism.”[70] He has likewise quoted French anti-Enlightenment writer Charles Maurras approvingly to a French diplomat.[71][72]

Starting in 2015, Bannon has frequently referenced controversial, allegedly racist 1973 French novel The Camp of the Saints, which depicts immigration destroying Western civilization.[73]

Political career

Donald Trump campaign

On August 17, 2016, Bannon was appointed chief executive of Donald Trump‘s presidential campaign; he left Breitbart, as well as the Government Accountability Institute[52] and Cambridge Analytica,[74] to take the job, and shortly after the chairman of the Trump campaign, Paul Manafort, was dismissed.[59][62][75][76][58]

Protests against Bannon’s appointment

Following Trump’s election, on November 13 Bannon was appointed chief strategist and senior counselor to President-elect Donald Trump.[77]This appointment drew opposition from the Anti-Defamation League (ADL), the Council on American–Islamic Relations, the Southern Poverty Law Center, Democrat Senate Minority Leader Harry Reid, and some Republican strategists, because of statements in Breitbart News that were alleged to be racist or antisemitic.[6][7][78][79][80]

Ben Shapiro,[80][81][82] David Horowitz,[83] Pamela Geller,[84] Bernard Marcus of the Republican Jewish Coalition,[85] Morton Klein[86] and the Zionist Organization of America,[85] and Rabbi Shmuley Boteach[87] defended Bannon against the allegations of antisemitism. Alan Dershowitz first defended Bannon and said there was no evidence he was antisemitic,[88][89] but in a later piece stated that Bannon and Breitbart had made bigoted statements against Muslims, women, and others.[90] The ADL said “we are not aware of any anti-Semitic statements from Bannon”, while adding “under his stewardship, Breitbart has emerged as the leading source for the extreme views of a vocal minority who peddle bigotry and promote hate.”[91] Shapiro, who previously worked as an editor-at-large at Breitbart, said that he has no evidence of Bannon being racist or an antisemite, but that he was “happy to pander to those people and make common cause with them in order to transform conservatism into European far-right nationalist populism”,[92] an assertion supported by other sources and by gestures like his alluding to Front National politician Marion Maréchal-Le Pen as “the new rising star”.[93]

On November 15, 2016, U.S. Representative David Cicilline of Rhode Island released a letter to Trump signed by 169 Democratic House Representatives urging him to rescind his appointment of Bannon. The letter stated that appointing Bannon “sends a disturbing message about what kind of president Donald Trump wants to be”,[94][95][96] because his “ties to the White Nationalist movement have been well documented”; it went on to present several examples of Breitbart News’ alleged xenophobia.[97] Bannon denied being a white nationalist and claimed, rather, that he is an “economic nationalist.”[98]

On November 18, during his first interview not conducted by Breitbart Media since the 2016 presidential election, Bannon remarked on some criticisms made about him stating that “Darkness is good: Dick Cheney. Darth Vader. Satan. That’s power. It only helps us when they get it wrong. When they’re blind to who we are and what we’re doing.”[99][100] The quote was published widely in the media.[99][101][102][103]

Trump responded to the ongoing controversy over Bannon’s appointment in an interview with The New York Times by saying “I’ve known Steve Bannon a long time. If I thought he was a racist, or alt-right, or any of the things that we can, you know, the terms we can use, I wouldn’t even think about hiring him.”[104]

Trump administration

Bannon and other advisors watching Trump sign an executive order.

White House Chief Strategist Steve Bannon shake hands with WH Chief of Staff Reince Priebus at 2017 CPAC

Several days after Donald Trump’s inauguration, Bannon told an American newspaper, “The media should be embarrassed and humiliated and keep its mouth shut and just listen for a while. I want you to quote this: the media here is the opposition party. They don’t understand this country. They still do not understand why Donald Trump is the president of the United States.”[105]

Bannon, along with Stephen Miller, was involved in the creation of Executive Order 13769, which resulted in restricted U.S. travel and immigration by individuals from seven countries, suspension of the United States Refugee Admissions Program (USRAP) for 120 days, and indefinite suspension of the entry of Syrians to the United States.[106][107]

At the end of January 2017, in a departure from the previous format of the National Security Council (NSC), the holder of Bannon’s position, along with that of the Chief of Staff, were designated by presidential memorandum as regular attendees to the NSC’s Principals Committee, a Cabinet-level senior interagency forum for considering national security issues.[3][108][109] The enacted arrangement was criticised by several members of previous administrations and was called “stone cold crazy” by Susan E. Rice, Barack Obama’s last national security adviser.[110] In response, White House spokesman Sean Spicer pointed to Bannon’s seven years experience as a Navy officer in justifying his presence on the Committee.

File:Bannon Says Corporatist Global Media Opposed to Economic Nationalist Agenda.webmhd.webm

‘Bannon Says Corporatist Global Media Opposed to Economic Nationalist Agenda’ video from Voice of America, recorded at the Conservative Political Action Conference 2017

In February 2017, Bannon appeared on the cover of Time, on which he was labeled “the Great Manipulator”.[111] The headline used for the associated article was “Is Steve Bannon the Second Most Powerful Man in the World?”, alluding to Bannon’s perceived influence in the White House.[112] In an interview with The Hollywood Reporter in the aftermath of the 2016 election, Bannon analogized his influence to that of “Thomas Cromwell in the court of the Tudors“.[113][114][115]

Bannon was removed from his NSC role in early April 2017 in a reorganization by National Security Advisor H. R. McMaster, who Bannon had helped select.[4] Some White House officials said Bannon’s main purpose of serving on the committee was as a check against former National Security Advisor Michael T. Flynn, who had resigned in February 2017 for misleading the vice president about a conversation with the Russian operatives.[116][5] Hence, with Flynn gone, Bannon was no longer needed.[4] Bannon reportedly opposed his removal from the council and threatened to quit if president Trump went forward with it, although Republican megadonor Rebekah Mercer urged him to stay.[53] The White House said Bannon had not attempted to leave, and Bannon said any indication that he threatened resignation was “total nonsense”.[117] Bannon had only attended one NSC meeting.[118]

Personal life

Bannon has been married and divorced three times. He has three adult daughters.

His first marriage was to Cathleen Suzanne Houff.[119] Bannon and Houff had a daughter, Maureen, in 1988 and subsequently divorced.