You couldn't make this up
Putin is supporting Iran with intelligence in the war
Yet Trump is considering unsanctioning more Russian oil according to Bessent
A clueless US Administration, in way over its head
Happy 100th Birthday to Alan Greenspan!
This could be a ketchup alert day at the White House. Terrible jobs numbers at a time when surveys show people are worried about losing their jobs. And gasoline prices continue to jump. Double-dose of bad news for those obsessed and fearful of the midterms.
Really, everyone following Trump's Iran war should read this. Bet you weren't thinking about this at all...
www.bloomberg.com/opinion/arti...
“Whoso pulleth out this sword of this stone and anvil...
On @bloombergtv.bsky.social, #Fed Governor Stephen Miran kind of sums up where the Open Market Committee is now, four days into Trump's Iran War: "I think (Fed policy makers) are more generally where they were last week. And it's just too early to change your mind."
This is cartoonish. Arrogant and silly. Who is he trying to impress? (Rhetorical Q, don't answer)
*SPAIN SAYS TRUMP MUST RESPECT INTERNATIONAL LAW OVER TRADE
Bwaa-ha-ha-ha-ha
Trump's Iran war is complicating monetary policy, @minneapolisfed.bsky.social President Neel Kashkari tells me. www.minneapolisfed.org/speeches/202...
Operation Epic Oil Spike continues:
Operation Epic Market Slide continues:
List of countries the State Department is telling Americans to leave
GTFO:
If we have to live in this insane world right now, here's some good news:
www.self.com/story/crying...
Although ISM Manufacturing remained positive (52.4, down from 52.6) in February, prices paid has to give @federalreserve.gov officials pause. 70.5 percent, an 11.5 pp jump from January's reading of 59% and its highest reading since June 2022. Tariffs get the blame, companies say.
What does Joe Biden have to do with this badly done Pentagon briefing? Other than propaganda?
Someone has studied Colin Powell's TV performances. But he is no Colin Powell.
It's been suggested to me that a lot of lives could be saved if he just bombed the servers on which the Epstein files are stored.
The dog is wagged again
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Major props to Anthropic for refusing to accede to the Defense Department's desire to be able to use AI against the American people.
www.anthropic.com/news/stateme...
I've been watching or reporting on State of the Union speeches since 1985. This one is by any and every measure the worst. A litany of lies interrupted by insults wrapped up in a campaign speech topped by obituaries.
The good news is people will remember the tone; nobody will remember what he said.
What if...we only noted the things he says that are true?
What does America remember about last year's Trump State of the Union speech? Those who bothered to watch remember...it was long. What will people remember about this year? Likely nothing more than it was long.
He'll do something to change the narrative by the weekend.
Got to root for Anthropic to hold the line here
www.bloomberg.com/news/article...
So it is reported that Trump will call for new...tax cuts...to make people feel better about the economy. Because what's another trillion or ten added to the national debt?
OBTW, your by-now regular reminder that winter storms do not have names.
Finally, there's Section 338 of the 1930 Smoot-Hawley Act. No investigations needed; tariff up to 50%. But in 96 years it has never been used. Court challenges could invalidate it or tie up implementation. 5/5
Section 201 is easier to apply in that the ITC has to show injury to domestic industry, and there are all sorts of barriers to trade out there. But this applies tariffs to sectors, not countries. 4/5
Trump can use other tariff authorities. 232 is threats to national security. Tariffs on China qualify. But maybe not useful for many other countries (except for steel). He's using 301, discrimination against US businesses, but USTR has to show actual harm. Again, somewhat limited. 3/5
The Court of International Trade is the likely venue for sorting out refunds. If anyone gets them, it will be wholesalers or large retailers who have tariff receipts from Customs. Consumers won't get anything back. 2/5
