Month: June 2020

Trump Once Again Crashes the Stock Market with his Trade Threats

Donald Trump never learns from his mistakes. Once again onerous trade sanctions imposed by this administration has the DOW dropping like a rock (700 points as of this writing). What was the excuse this time?:

European olives, chocolate, gin and beer made with malt are among the latest products that could be hit with steep tariffs as part of a US-European dispute over government subsidies to aircraft makers.

The US Trade Representative announced a list of 30 total products that could be subjected to new tariffs, noting the United States imports about $3.1 billion of these goods annually from Europe.

The United States already levied 15% to 25% tariffs on $7.5 billion worth of other European goods as part of this dispute. The new items could be hit with tariffs of as much as 100%, according to the notice.

The DOW is now lower than it was in January of 2018, 2 1/2+ years ago. That’s when Trump decided he would start a trade and go “America first.”

President Donald Trump slapped steep tariffs on imports of solar panels and washing machines, kicking off his second year in office by showing he is ready to start implementing his long-promised “America First” trade policy.

This was reported by the Wall St Journal the just before the big drop in the DOW: 1/22/2018. The stock market fell 3,000 points before turning around after March 2018.

Then again after September 21, 2018 the stock market took another descent, dropping another 4,000+ before bottoming out in December of 2018. And here was the headline on September 17th:

President Trump, emboldened by America’s economic strength and China’s economic slowdown, escalated his trade war with Beijing on Monday, saying the United States would impose tariffs on $200 billion worth of goods and was prepared to tax all imports.

Mr. Trump, in a statement released late Monday, showed no sign of backing down from the type of full-blown trade war between the world’s two largest economies that has rattled financial markets, saying he was prepared to “immediately” place tariffs on another $267 billion worth of imports “if China takes retaliatory action against our farmers or other industries.”

So here we have 3 separate occasions when Trump’s trade antics plunged the stock market. And his stupidity will probably cost him re-election.

British Government hid Evidence Trump was a Russian Asset

Boris Johnson, then foreign secretary (left), jokes with Donald Trump as Theresa May walks past during a Nato working dinner in May 2017. Photograph: Matt Dunham/AP

Much like in the U.S. there has been a concerted effort to downplay or ignore evidence that Trump worked for the Russians:

Boris Johnson and Theresa May ignored claims the Kremlin had a “likely hold” over Donald Trump and may have covertly funded Brexit, the former spy Christopher Steele alleges in secret evidence given to MPs who drew up the Russia report.

In testimony to MPs, the MI6 veteran accused the government led by May and in which Johnson was foreign secretary for two years of turning a blind eye to allegations about Trump because they were afraid of offending the US president.

Steele first presented a dossier about Trump to senior UK intelligence figures in late 2016, who he says took it seriously at first. But, he writes, “on reaching top political decision-makers, a blanket appeared to be thrown over it”.

“No inquiries were made or actions taken thereafter on the substance of the intelligence in the dossier by HMG [Her Majesty’s government],” Steele says in the critical document.

Before you dismiss Steele because of the smears directed against him:

Former British spy Christopher Steele, whose controversial dossier roiled American politics, scored a major victory Thursday when an appellate court upheld the dismissal of a defamation lawsuit against him by two powerful Kremlin-linked Russian oligarchs.

If there is any slandering it’s by the Trump criminal syndicate:

The firm run by an ex-British spy and the author of the controversial dossier that was used to obtain surveillance warrants against a former Trump campaign official accused President Trump of making “false claims” about them while also standing behind the reporting in the spy’s much-panned dossier.

And if Steele’s allegations are untrue why hasn’t Trump sued the former MI6 officer.

Trump’s Tulsa Rally is a Gigantic Flop

Trump claimed 1 million had requested to attend his race rally in Tulsa Saturday. This is gonna leave a mark. The ‘magic’ is gone.

How Pathetic.
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Trump Implies Lincoln’s Greatness “Questionable” for Ending Slavery

This is beyond shocking. There are no words. Trump literally argues that Abraham Lincoln’s greatness is “questionable” because he ending slavery:

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Top U.S. Military Commander Throws Trump under the Bus

Gen. Milley (in uniform) regrets this recent sick photo-op

It almost seems the entire military establishment has turned on Trump. That is a good sign:

Joint Chiefs of Staff Chairman Gen. Mark Milley says he regrets his participation in President Trump’s photo opportunity outside St. John’s Church last week.

“I should not have been there,” Milley said during a recorded message aired at the graduation of the National Defense University on Thursday morning. “My presence in that moment and in that environment created a perception of the military involved in domestic politics.”

“As a commissioned, uniformed officer, it was a mistake that I have learned from,” he said. “And I sincerely hope we all can learn from it.”

TheHill.com

Milley is openly defying King Trump:

America’s highest ranking soldier, General Mark Milley, who chairs the Joint Chiefs of Staff, raised his voice when President Donald Trump demanded the regular military be deployed against George Floyd protesters, according to the New Yorker. The verbal tussle happened in the Oval Office just days before Trump’s ill-advised bible photo op, which Milley attended. A senior military official told the New Yorker that the president and Milley “got into a shouting match” with Milley insisting the military could not be dispatched against American civilians. “I’m not doing that,” he reportedly told Trump. “That’s for law enforcement.” The New Yorker source then described Milley as brash and pushy, adding, “We have a bully in the White House, and a bully needs a bully.”

TheDailyBeast.com

This follows recent denunciations of Trump by prominent retired generals. Including his former Secretary of Defense.