Tag Archives: Trump

Dow Drops 925 Intraday on Trump’s Tariffs and Yuan Devaluation

photo montage / Lynxotic

Bonds Hit Record Low Yields in Wild Wall Street Action

The carrot is gone and the sticks are out. After Trump’s now infamous tweet late last week that set markets in the US tumbling, now, the other shoe is dropping as China’s retaliation plans are revealed.

After Trump announced an additional 10% tariff on $300 billion of China goods entering the US, to be levied starting September 1st, China has already implemented a response.

First, the People’s Bank of China, which is the equivalent of the US Fed, allowed the yuan to fall below the peg of 7 to the dollar that has stood as a psychological barrier and is considered an important level to maintain.

Lowering the currency exchange rate has the effect of countering the tariff by increasing the number of yuan generated by dollar denominated exports.

Naturally there are more complex peripheral and ancillary effects that will be debated by economists until the end of time.

The People’s Bank, for what it’s worth, claimed that the drop was “driven and determined” by market forces.

The yuan is now at its lowest point relative to the dollar since 2008.

A second form of retaliation that China appears likely to implement is the reduction of or an outright halt on purchase of US agricultural products.

An increase in the quantities of US agricultural products was one of the concessions negotiated during the recent talks with China during the G-20 summit.

Trump tweeted his displeasure at the lack of follow-through on this promise:

And seemed to imply that this lack of cooperation was possibly the trigger behind his sudden decision to announce the 10% increase in tariffs.

With the US States that comprise the bulk of the large farmers that would be most affected by this issue being the same States that helped Trump win a narrow victory in the Electoral College in 2016, this is a “counterpunch” that will likely not sit well with the current resident of the White House.

These small steps, partly perhaps only threats, partly already in effect, are but a tiny slice of possible retaliation by the Middle Kingdom.

Tariff-Man Joins Circular Firing Squad

Tariff-Man is learning, apparently very slowly, some of the many reasons that Trade Wars are famous for not having any winning countries, but rather, are just a “circular firing squad” which produces only losers.

A common boast throughout the Trump Administrations tenure has been that the stock market is at or near all time highs and that he himself is the sole reason it is. With his trade policies being widely blamed for dramatic market losses that boast may have to be taken out of his toolkit, at least for the foreseeable future.

If today’s responses from China, followed by the stock market reaction, are any indication of where we are headed, it looks to be a bumpy Fall with September and October being statistically dangerous months for the financial markets, in general .


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Update: Europe Markets Down, China Responds, Tariff-Man Threats Reverberate

Photo Montage / Lynxotic

Additional 10% Tariffs on $300 Billion will Commence September 1st…

Germany’s DAX down 2.5% while the Hang Seng Index loses 2.35% after Trump’s Tweets and Threats. China says they will respond in kind: “If the U.S. is going to implement the additional tariffs, China will have to take necessary countermeasures,” Hua Chunying, China’s Foreign Ministry spokeswoman said at a briefing in Beijing on Friday: “China won’t accept any maximum pressure, threat, or blackmailing, and won’t compromise at all on major principle matters…”

The DJIA was up more than 300 points on Thursday, when the announcement was made, then it ultimately ended the session down 280. The new tariffs are on the 300 billion in goods that have been, until this point, coming into the country without a toll. There are also 250 billion in Chinese goods that already have a 25% levy attached.

Recent trade negotiations in Shanghai concluded on Wednesday with little or no progress. Talks are scheduled to resume in September.

Speaking on July 30th, before reporters Trump speculated that China may be thinking of delaying a resolution until after the election in 2020, saying:

“They would just love if I got defeated so they could deal with somebody like Elizabeth Warren or Sleepy Joe Biden…. They’ll pray that Trump loses. And then they’ll make a deal with a stiff, somebody that doesn’t know what they’re doing like Obama and Biden, like all the presidents before.”

Donald J. Trump

Calling the tariff a “small additional levy” Trump also said in a series of tweets that China’s promise to buy large amounts of agricultural products from the US, was not kept.

While speaking to reporters this afternoon at the White House, he also threatened to lift the percentage to 25% and beyond, “But we are not looking to do that, necessarily”.

Products that will be included in this new batch of tariffed goods will be consumer electronics such as iPhones, toys and shoes, among other items.

There was some surprise noted, as the meetings and discussions in Shanghai appeared to end on a somewhat positive note, initially. Now, with this announcement, there is a sense of the talks having fallen short of any progress at all.

Fallout of the Trade War to Begin Hitting Home

Trump continues to claim that China will pay these levies, although studies have shown that the consumer in the US will ultimately pay through higher costs on all tariffed goods. The higher prices will also harm sellers in the US due to a reduced volume of sales.

While there is sill also a lot of “carrot” talk, how the negotiations can also take a turn for the better at any time, coming from both sides, it does not appear that there is much substance to be gleaned from these pronouncements.

Since the percentage of some of the products that will be affected, such as toys, include as high as 85% currently coming from China, these tariffs can have a substantial effect on the marketplace.

Also, possibly unintended beneficiaries to the trade war are neighboring countries such as Vietnam and Cambodia, that are already showing signs of increased activity due to the shifting of origin of manufacturing to those countries in order to avoid the levies.

Tariff-man is staying true to his self-given moniker and in September, as the next wave hits, it is yet to be seen what the economic effects will be, either in China or here in the US.


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Trump Topples Rally with Tariffs: Dow Drops Nearly 600 Intraday

10% on $300 Billion will Commence September 1st…

The DJIA was up more than 300 points when the announcement was made, then it ultimately ended the session down 280. The new tariffs are on the 300 billion in goods that have been, until this point, coming into the country without a toll. There are also 250 billion in Chinese goods that already have a 25% levy attached.

Recent trade negotiations in Shanghai concluded on Wednesday with little or no progress. Talks are scheduled to resume in September.

Speaking on July 30th, before reporters Trump speculated that China may be thinking of delaying a resolution until after the election in 2020, saying:

“They would just love if I got defeated so they could deal with somebody like Elizabeth Warren or Sleepy Joe Biden…. They’ll pray that Trump loses. And then they’ll make a deal with a stiff, somebody that doesn’t know what they’re doing like Obama and Biden, like all the presidents before.”

Donald J. Trump

Calling the tariff a “small additional levy” Trump also said in a series of tweets that China’s promise to buy large amounts of agricultural products from the US, was not kept.

While speaking to reporters this afternoon at the White House, he also threatened to lift the percentage to 25% and beyond, “But we are not looking to do that, necessarily”.

Products that will be included in this new batch of tariffed goods will be consumer electronics such as iPhones, toys and shoes, among other items.

There was some surprise noted, as the meetings and discussions in Shanghai appeared to end on a somewhat positive note, initially. Now, with this announcement, there is a sense of the talks having fallen short of any progress at all.

Fallout of the Trade War to Begin Hitting Home

Trump continues to claim that China will pay these levies, although studies have shown that the consumer in the US will ultimately pay through higher costs on all tariffed goods. The higher prices will also harm sellers in the US due to a reduced volume of sales.

While there is sill also a lot of “carrot” talk, how the negotiations can also take a turn for the better at any time, coming from both sides, it does not appear that there is much substance to be gleaned from these pronouncements.

Since the percentage of some of the products that will be affected, such as toys, include as high as 85% currently coming from China, these tariffs can have a substantial effect on the marketplace.

Also, possibly unintended beneficiaries to the trade war are neighboring countries such as Vietnam and Cambodia, that are already showing signs of increased activity due to the shifting of origin of manufacturing to those countries in order to avoid the levies.

Tariff-man is staying true to his self-given moniker and in September, as the next wave hits, it is yet to be seen what the economic effects will be, either in China or here in the US.


Find books on Big TechSustainable EnergyEconomics and many other topics at our sister site: Cherrybooks on Bookshop.org

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Can Evil Succeed in the USA? Trump’s Attacks are Hitler-esque, and it Took a World War to Stop Him

Thankfully, weekend headlines were replete with stories denouncing Trump’s most recent barrage of racist tweets, these singling out Rep. Elijah Cummings and Baltimore, and the district that he represents.

@TheRealAdolfHitler: What if Hitler was on twitter? would he tweet about “rat infested” Jewish areas of Berlin?…

Even CNN, until recently not known for hard line resistance, pointed out and criticized the Nazi-like tone and technique in the tweets – how they echo the Nazi era anti-Semitic propaganda, that labeled Jews as “parasites” and used photos of rats to imply filth and disease. Infestation was also a concept used, the implication that Jews, like rats, carried disease and decay.

Or would Joseph Goebbles have his own account?

Read More: The Dow Drops more than 6% as “Trump Bump” Vanishes into Thin Air

The most alarming, discouraging element of this ongoing debasement of our political discourse is the possibility that this disgusting circus could be extended initially through 2020, and even into another four years and beyond.

It can’t happen here” is a well known phrase and the title of an influential novel from 1935 by Sinclair Lewis. In many ways, as others have pointed out, Trump echos the main character and could even conceivably have used his story as a blueprint for his career in politics.

The phrase, “it can’t happen here”, seems to be contradicted on a daily basis since November 9, 2016, and the degree to which the horrors of the past can be repeated, or at least echoed continues, with seemingly no end in sight.

The “enemy of the people”, as Trump has labeled the media (at least all that dare to speak out against him), seem to be the only hope, ultimately, of effecting a change for the better, which can only come once Trump is no longer in power.

The attacks on Cummings were racist propaganda, of that, there is no doubt. There is also a clear motive for the attacks, since the target is the chairman of the House Oversight Committee, which is charged with overseeing the Executive Branch, including the office of the President.

After years of endless lies, Trump appears to be upping his game, ahead of the coming election. With a clear pattern of weekend twitter propaganda, such as the “go back” tweets, which for most represented a new low, and yet are clearly outdone by this weeks sequel.

Many articles and famous figures have responded, from the Baltimore Sun’s scathing inditement, to CNN’s Victor Blackwell and his live on-air, heart-felt reaction, and even Stephen Curry’s comment on his segment:

Read More: 12 New Books to Read in case you are Still Undecided this Election Year

Reactions show Courage and Conviction

As the years of this presidency have progressed, and the lies and vicious attacks have escalated, the press has also adapted and evolved.

For almost a year after the 2017 inauguration, the press generally avoided using the word “lie” in reports of Trump’s “untruths”. There was an attempt to maintain respect for the office and to somehow show deference to a man that, ultimately, has proven himself to be beneath that courtesy. As the lies continued to pile up and the press was directly attacked on many occasions, boldness and honesty begin to seep into the reporting.

“…all of us, starting with the media, must speak out now, and not stop until he is gone.”

Now, the words “racist” and “bigot” are necessary and accurate in any description of the man, or his actions and ideas. The tweets of the last few weeks have set a new lower standard, even for Trump, in how blatantly his bigotry and racism can be displayed.

The congressman himself had several strong responses to the attacks that should be seen:

Ultimately, unless we want to see a future that mirrors the almost 12 years, between the time that Hitler became chancellor of Germany until his death, and experience a fate that is potentially even worse: all of us, starting with the media, must speak out now, and not stop until he is gone.

In the past, comparisons with Hitler were a kind of “red-line” that was seldom crossed, as the horrific historical legacy of the Nazis was thought to be too extreme, even to contemplate, in a modern day figure.

“Afghanistan would be wiped off the face of the Earth – – it would literally be over in 10 days” -because- “I just don’t want to kill ten million people”

Now, we are talking about a man who only last week boasted that, if he wanted, “Afghanistan would be wiped off the face of the Earth – – it would literally be over in 10 days” because “I just don’t want to kill ten million people”. Implying that he could change his mind about not killing 10 million in Afghanistan, or anywhere else, at any time.

This past weekend may, one-day, be seen as the beginning of a march toward 2020 and another Trump term, with consequent escalation of all the ugly policies and actions.

It could be just the beginning, with all this power-drunk behavior, from a man that has indicated that he believes his supporters might “demand” that he serve more than 8 years. And “joked” that he feels he should be “president for life”, after repealing the 22nd amendment.

Combine these disturbing ideas and extrapolate, even just slightly forward, and step by step, we are talking about a future that is virtually impossible to imagine in its potential for hate, death and destruction.

We are entering a time when the transition to calling “a lie” a lie, a “racist” a racist and soon a “fascist” a fascist, will either work to eventually re-establish the goal of democracy and equality and truth as our real American greatness, or Trump will indeed be a new, far worse, version of Hitler, Goebbles and the Third Reich all rolled into one.

Hyperbole? Hysteria? This is a time when a single man or woman can influence the future of this country and the world. Will it be this man? This racist, bigoted, hateful, corrupt “rat” of a man?

Or will it be you, as one of millions who will stop him? As history indicates, the real choice is to begin the movement to stop him now, or look forward to horrors from which the world itself may not survive.


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Trump’s Racist Tweets are Part of a Simple, Hackneyed Plan for Campaign

At a staged speech in front of the White House on Monday under the auspices of a pre-planned “Made In America” event, Mr. Trump started off, as he often does, from the teleprompter, then, veered off into continuation of the weekend’s twitter tirade. The traditional, annual, event which is coordinated with “Made in America Day” and “Made in America Week” is a standard “pro-America” pep rally meant to give the President the opportunity to tout his patriotic agenda.

After a few remarks from the usual scripted pro-American manufacturing playbook, and his usual boasts about how the stock market and job market success are due, exclusively, to his having been elected, he launched into a defense of his racist tweets that have been dominating the news cycle over the weekend. 

Read More: Dark Towers tells Deutsche Bank Story of Trump, post Bankruptcy yet Swimming in Loans

Reporters present pushed Mr. Trump to respond to the trending topic, rather than continue with the purported theme of the day, praise for American made jobs, products and manufacturers. In response to one reporter’s query:

“Does it concern you that many people saw that tweet as racist and that white nationalist groups are finding common cause with you on that point?”

He replied:

“It doesn’t concern me because many people agree with me. And all I’m saying, they want to leave, they can leave.”

Everything New is Old Again

This exchange led to additional back and forth on the theme “Love It Or Leave It”, a hackneyed slogan from the sixties, and, with 50 year anniversaries of the Apollo Moon landing and Woodstock this summer, it seems oddly fitting that a Republican President, echoing Nixon, should be trying to re-ignite that tired refrain.

Even as reporters continued to try and question the motives and meanings of his, clearly racist, tweets aimed at the congresswomen, Trump continued to beat the “love it or leave it” drum:

Read More: Owes or Owed: Either Way Trump’s Dealings with Bank of China are Questionable

“If you’re not happy in the U.S., if you’re complaining all the time, very simply, you can leave. You can leave right now. Come back if you want, don’t come back, it’s OK too. But if you’re not happy, you can leave,” Sadly this all seems like a scripted melodrama straight out of the Nixon campaign.

Meanwhile the specter of alleged communist sympathy, taking us all back to the “HUAC” witch hunts of the 50s, of all things, was hurled at the target of Trump’s weekend tweets, by none other than that schizophrenic  sycophant, Lindsey Graham:

I see [Lindsey Graham’s] biggest issue w/ Trump’s racism is that it doesn’t go far enough – Graham wants to bring back 1950s McCarthyism, too.

GOP is doing this because they have no plan for our future.

We’re the ones fighting for healthcare, edu, good jobs, & they got nothing.

– ALEXANDRIA OCASIO-CORTEZ – IN A TWEET

Tired, Old Ploy, Once Again Trotted Out to Muddy the Waters

This entire episode, starting with the offensive tweets, is obviously a ploy to draw battle lines – again harkening back to the Nixon campaign and his “Silent Majority” refrain, complaining that protesters against the Vietnam war were a small minority, and that he spoke for the majority in his (soon to be proven criminal and corrupt)  positions and policies. 

Sadly, unless the strategy is undone by a more enlightened electorate, we could be headed for a similar fate: Nixon won in a landslide in 1972 only to resign before almost certain impeachment in 1974 after a “long national nightmare”.

Hopefully the parallels with ‘69 – ‘72 will end in November 2020. 


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ICE Raids and a Xenophobe Named Trump: Sunday, July 14th in the USA

Trump’s Goons Set Loose on Cities Across the Nation: Some ICE raids Currently Underway

As promised, ICE raids are in progress across the country, as announced by the Trump administration and widely reported. 

There have been over 2000 immigrants targeted for arrest in a host of major cities: New York, Chicago, Miami, Atlanta, Baltimore, Los Angeles, Houston, San Francisco and New Orleans. It appears, possibly as a tactic, that smaller rural communities are also seeing action.

Mayors in some cities have spoken out strongely against the actions, such as New York’s Mayor de Blasio as seen in the above tweet. The Mayor’s Office of Immigrant Affairs added a video to remind those affected of their options under the law. 

The video reminds those targets and any other immigrants that they have the right to refuse to open their doors and do not have to respond, according to the law in New York City, for example. 

According to witnesses in areas already targeted in New York, people appear to be avoiding going out in public and streets are quieter than usual. 

In what was likely not a coincidence, on Saturday, Trump chose to hurl xenophobic insults at Democrat Congresswomen, implying that they are not American and should “go back and help fix” the “places from which they came” :

The tweets, clearly meant for the progressive wing of the Democratic Congress, were not only racist and xenophobic but also, as is sadly, no surprise, wrong. Alexandria Ocasio-Cortez was born in New York City, Rashida Tlaib was born in Detroit and Massachusetts Congresswoman, Ayanna S. Pressley was born in Cincinnati. Only Ilhan Omar of Minnesota, was born outside the country, in Somalia.

“You are angry because you can’t conceive of an America that includes us. You rely on a frightened America for your plunder.

You won’t accept a nation that sees healthcare as a right or education as a #1 priority, especially where we’re the ones fighting for it. Yet here we are.”

– Alexandria Ocasio-Cortez, in Tweet responding to trump’s tirade

The LA Times reported, in an interview with Melissa Taveras of the Florida Immigrant Commission, based in Miami, that the onset of possible raids was like waiting for a hurricane:

Read More:

“The overall environment is very much like a hurricane: When is it going to come, is it going to hit us, is it going to move north?”

Melissa Taveras , Quoted in the L.A. Times

“The overall environment is very much like a hurricane: When is it going to come, is it going to hit us, is it going to move north?” she said. “We have people in Homestead, Little Havana, Little Haiti — where we know there are concentrations of immigrants — distributing ‘know your rights’ pamphlets. That seems to be effective because we’re already hearing reports of people not opening their doors.”

Her organization was advising families to be sure to have a relative or attorney’s contact information memorized in order to contact them, if detained, and that they need to be sure to give them details of where they are taken, along with full name and birthday, in order to help try and get them released, if arrested. 


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Trump Toys with Tariffs Again: to the Tune of $4B Aimed at Eurozone

Using Aircraft Subsidies as Pretense to Hit Autos, Cheese, Whisky and More…

Coming on the heels of a “surprise” temporary reduction in trade tensions with China, the list of affected goods in the tariff threat also includes 89 items, such as, olives, ham, coffee, wine, some seafood and metals.

Although the prospect of a new major front in the global trade war is one to be wary of, Trump is beginning to show his hand: in using threats and then trying to milk the negotiating phase, for a potential stock market boost which is then attributed to reductions in tension. Perfect example at hand is the one that boosted the markets yesterday after the meetings with President Xi Jinping around the G20 Summit in Osaka, Japan.

Never mind that, as we reported on May 23rd, it was obvious that he (and Xi) would use the date-certain G20 to claim a temporary “victory” and try and boost stature (and the Markets) with a removal (that could also be temporary) of the additional $350 billion, previously scheduled to be levied.

Read more:

May 23th, 2019: In a possible set up for both to appear to “rescue” their respective countries from this toddler-made crisis, a potential meeting at the G20 Japan summit, set to begin on June 28th, has been mentioned by the Trump administration.

Next Phase? European Front to Trade War

In May, 2018, Donald “Trade wars are good” Trump’s 25% tariffs on European steel and 10% on aluminum took effect. The European response was to impose steel import limits.

Behind it all, purportedly, are the aircraft subsidies given to Boeing and Airbus, respectively. Each of the two massive aircraft manufacturers received subsidies in the USD billions, according to the WTO.

In Trump’s about-face at the G20, he stated that the China negotiations are “right back on track”, although this, along with the original escalation that was an obvious ploy, can change at any time again, in a Queens heartbeat. Details of any progress on the agreement for Beijing to initiate economic reforms demanded by the US administration are currently unknown.

While Trump’s obsession with the stock market may serve him now, with many US indices at or near all time highs, if and when a dip occurs, especially coming in the ramp up into the 2020 elections, his tune will have to change in a hurry.

If the market does take a dive, look for him to find a scapegoat, or god forbid, start a war, not just a trade war, in order to distract from the suddenly unfavorable reflection on him. Crowing about stock market levels has traditionally not been a Presidential habit, for good reason, as, factually, bear markets always follow bull markets, sooner or later. Right now, it’s just a question of when. Trade wars will be an obvious explanation for any significant downturn, and that will undoubtedly be like the chickens coming home to roost, at long last.


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Tired of Spin, Hype and Lies? Read the full text of Mueller’s Statement

***If you want to know what he actually said, and you are interested in the future of the country, please read the full text here:

“Two years ago, the Acting Attorney General asked me to serve as Special Counsel, and he created the Special Counsel’s Office. The appointment order directed the office to investigate Russian interference in the 2016 presidential election. This included investigating any links or coordination between the Russian government and individuals associated with the Trump campaign.


I have not spoken publicly during our investigation. I am speaking today because our investigation is complete. The Attorney General has made the report on our investigation largely public. And we are formally closing the Special Counsel’s Office. As well, I am resigning from the Department of Justice and returning to private life.


I’ll make a few remarks about the results of our work. But beyond these few remarks, it is important that the office’s written work speak for itself.


Let me begin where the appointment order begins: and that is interference in the 2016 presidential election.


As alleged by the grand jury in an indictment, Russian intelligence officers who were part of the Russian military launched a concerted attack on our political system.

The indictment alleges that they used sophisticated cyber techniques to hack into computers and networks used by the Clinton campaign.

They stole private information, and then released that information through fake online identities and through the organization WikiLeaks. The releases were designed and timed to interfere with our election and to damage a presidential candidate.

And at the same time, as the grand jury alleged in a separate indictment, a private Russian entity engaged in a social media operation where Russian citizens posed as Americans in order to interfere in the election. These indictments contain allegations.

And we are not commenting on the guilt or innocence of any specific defendant. Every defendant is presumed innocent unless and until proven guilty in court.

The indictments allege, and the other activities in our report describe, efforts to interfere in our political system. They needed to be investigated and understood.

That is among the reasons why the Department of Justice established our office. That is also a reason we investigated efforts to obstruct the investigation.

The matters we investigated were of paramount importance. It was critical for us to obtain full and accurate information from every person we questioned.

When a subject of an investigation obstructs that investigation or lies to investigators, it strikes at the core of the government’s effort to find the truth and hold wrongdoers accountable.


Let me say a word about the report.

The report has two parts addressing the two main issues we were asked to investigate. The first volume of the report details numerous efforts emanating from Russia to influence the election.

This volume includes a discussion of the Trump campaign’s response to this activity, as well as our conclusion that there was insufficient evidence to charge a broader conspiracy.

And in the second volume, the report describes the results and analysis of our obstruction of justice investigation involving the President.


The order appointing me Special Counsel authorized us to investigate actions that could obstruct the investigation. We conducted that investigation and we kept the office of the Acting Attorney General apprised of the progress of our work.

As set forth in our report, after that investigation, if we had confidence that the President clearly did not commit a crime, we would have said that.

We did not, however, make a determination as to whether the President did commit a crime.

The introduction to volume two of our report explains that decision. It explains that under long-standing Department policy, a President cannot be charged with a federal crime while he is in office. That is unconstitutional.

Even if the charge is kept under seal and hidden from public view, that too is prohibited. The Special Counsel’s Office is part of the Department of Justice and, by regulation, it was bound by that Department policy.

Charging the President with a crime was therefore not an option we could consider.

The Department’s written opinion explaining the policy against charging a President makes several important points that further informed our handling of the obstruction investigation. Those points are summarized in our report.

And I will describe two of them:


First, the opinion explicitly permits the investigation of a sitting President because it is important to preserve evidence while memories are fresh and documents are available. Among other things, that evidence could be used if there were co-conspirators who could now be charged.

And second, the opinion says that the Constitution requires a process other than the criminal justice system to formally accuse a sitting President of wrongdoing.

And beyond Department policy, we were guided by principles of fairness. It would be unfair to potentially accuse somebody of a crime when there can be no court resolution of an actual charge.

So that was the Justice Department policy and those were the principles under which we operated. From them we concluded that we would not reach a determination – one way or the other – about whether the President committed a crime.


That is the office’s final position and we will not comment on any other conclusions or hypotheticals about the President.
We conducted an independent criminal investigation and reported the results to the Attorney General – as required by Department regulations. The Attorney General then concluded that it was appropriate to provide our report to Congress and the American people.

At one point in time I requested that certain portions of the report be released. The Attorney General preferred to make the entire report public all at once. We appreciate that the Attorney General made the report largely public. I do not question the Attorney General’s good faith in that decision.

I hope and expect this to be the only time that I will speak about this matter. I am making that decision myself – no one has told me whether I can or should testify or speak further about this matter. There has been discussion about an appearance before Congress.

Any testimony from this office would not go beyond our report. It contains our findings and analysis, and the reasons for the decisions we made. We chose those words carefully, and the work speaks for itself.

The report is my testimony. I would not provide information beyond that which is already public in any appearance before Congress. In addition, access to our underlying work product is being decided in a process that does not involve our office.


So beyond what I have said here today and what is contained in our written work, I do not believe it is appropriate for me to speak further about the investigation or to comment on the actions of the Justice Department or Congress.

It is for that reason that I will not take questions here today.

Before I step away, I want to thank the attorneys, the FBI agents, the analysts, and the professional staff who helped us conduct this investigation in a fair and independent manner.


These individuals, who spent nearly two years with the Special Counsel’s Office, were of the highest integrity.

I will close by reiterating the central allegation of our indictments – that there were multiple, systematic efforts to interfere in our election.

That allegation deserves the attention of every American. Thank you”

– Special Counsel Robert Mueller

Read More: Five New Books about how We can Change the Direction of the USA in November and Beyond


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Trade-War Toddler Triggers Market Meltdown

Dow Drops 700 as China Retaliation Begins

Similar to the business acumen and negotiating prowess he exhibited while losing more than any other U.S. citizen during his “glory days” as a real-estate mogul, Trump is going for broke in the China trade war. Trump lost over a billion dollars between 1985 and 1994, even while writing a book on how to be a genius negotiator.

The latest phase in the Trump trade war started with a typical tweet-storm last Sunday. On the following Tuesday (May 7th) China responded, in Dirty Harry fashion, saying “Don’t even think about it” and “We will not back down”.

China slaps back with $60 Billion in Tariffs on U.S. products to begin on June 1

The list of products is set to contain 5-25% tariffs on approximately five thousand items that will likely include textiles, chemicals, agricultural products and metals. In a hint that this is only the beginning China added that they “will never surrender”, apparently, just for good measure.

In characteristic fashion, Trump tweeted various random comments interlaced with threats and simplistic advice on how U.S. consumers can avoid being affected by the tariffs, claiming that his war is “very good for USA!”.

All from a President that “Doesn’t Know What a Tariff Is

As reported in Esquire there’s a distinct possibility that Trump is out to lunch on trade theory (see billion dollars lost in his personal business deals above for a hint).

We will be taking in Tens of Billions of Dollars in Tariffs from China. Buyers of product can make it themselves in the USA (ideal), or buy it from non-Tariffed countries.

Trump in recent tweet

While this may sound peachy, his own advisor was forced to clarify:

“Yes, I don’t disagree with that,” said Larry Kudlow, the head of the president’s National Economic Council, when Chris Wallace, host of “Fox News Sunday,” asked him, “It’s U.S. businesses and U.S. consumers who pay, correct?” Kudlow added, “Both sides will pay”

Lawrence Kudlow, head of the president’s National Economic Council, from a Fox News interview

Possible brinksmanship on display as Trump and Xi Jinping plan potential meet at Japan Summit

In a possible set up for both to appear to “rescue” their respective countries from this toddler-made crisis, a potential meeting at the G20 Japan summit, set to begin on June 28th, has been mentioned by the Trump administration.

A deal could be announced during the summit, or even before. However, it is unlikely that this will be much more than jawboning, at least initially, and meant to save face and calm markets while the war, and the Tariffs continue. In the meantime, watch for a possible European entrance into the fray to be next.


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China Responds to Trump Threats: “We Will Not Back Down”

Photo / Monique Ly

Dow swoons again on news; down 400 points in early trading

The South China Morning Post reported today that Chinese State Media has responded to the threats in Trump’s tweets from Sunday to raise Tariffs, as well as adding new tariffs on additional goods.

“Things that are unfavourable to us, no matter how you ask, we will not take any step back. Do not even think about it.”

‘Peoples Daily” via wechat

Read More: Owes or Owed: Either Way Trump’s Dealings with Bank of China are Questionable

After first blocking media mentions or screen shots of Trump’s twitter threats early Monday, Beijing responded with defiance and even attempted a bit of theatrics, “Do Not Even Think About It” was the “Dirty Harry-esque” headline in the Hong Kong news outlet’s article cited above.

In spite of the heated rhetoric and brinkmanship from both sides, the Chinese Government still plans to send an envoy to the talks, although no time frame was specified.

From the U.S. perspective, according to the Trump administration, the talks are progressing “too slowly” and a mechanism for holding China accountable to reduce intellectual property violations and open up its economy is as yet undefined.

The harsh stances on either side to date, however, do not rule out the possibility that both can claim “victory” after looking tough at home, after ultimately announcing some kind of agreement to end the tensions and the tariffs. While this may even be the likely outcome, the potential for higher tariff percentages and new levies on other goods (on both sides) are a serious possible reality going forward.

Read more: ’Blowout’ by Rachel Maddow: Corrupted Democracy, Rogue State Russia and the Richest, Most Destructive Industry on Earth

Quoting the ‘Peoples Daily’ from its WeChat public account: “Things that are unfavourable to us, no matter how you ask, we will not take any step back. Do not even think about it.”


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Dow Futures Drop over 500 points after Trump Threatens on China Trade

“Tariff-Man” talks tuff when traders expect cream puffs

Photo / Adobe Stock – Lynxotic

Nasdaq futures down over 2%

Futures began to tumble when Trump announced he would raise tariffs on $200 Billion in Chinese goods and soon add a levy on $325 billion more. In the largest drop in Futures since January, traders appear to be reacting to the expectation of a positive resolution to the trade tensions, only to be surprised by the escalation by Trump.

Read More: The Dow Drops more than 6% as “Trump Bump” Vanishes into Thin Air

Brinksmanship? Or will both sides make good on threats?

As reported by the Wall Street Journal, China may be pulling out of the talks, which only raises the stakes. It’s entirely possible that both sides are talking tough in an attempt to gain an advantage and claim victory, if and when the talks resume. A sudden positive, “unexpected” reversal on both sides would likely spur a knee jerk market rally, for example, so volatility in the markets appears to be likely for the week ahead.

Needless to say, a trade war escalation would be a serious event for both sides. Although China may feel the negative effects of such an all out Tariff avalanche first, the potential downside for the U.S.A. is not clear and would be by no means insignificant.

Photo / South China Morning Post

With both sides broadcasting extreme positions, on the other hand, the talks may well halt, which would “require” Trump to make good on his threats (in order to save face). Stay Tuned.

Read More: Five New Books about how We can Change the Direction of the USA in November and Beyond


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Barr Does Passive-Aggressive Attack on Mueller in Senate

Showdown on discrepancies may follow…

https://lynxotic.com/wp-content/uploads/2019/05/Barr_Blows_Fuse.mov

“I don’t consider “Bob”, at this stage, a career prosecutor”

– Attorney General William Barr

Attorney General calls published letter “Snitty” and refuses to acknowledge Mueller’s Reputation. When asked if he made a memorandum of his conversation he sheepishly replied “huh?” Before admitting after further questioning that “someone” had taken notes of the call.

“why should you have them?”

– Attorney General William Barr, when asked if congress could be allowed to have a copy of the notes from the call

Read More: Five New Books about how We can Change the Direction of the USA in November and Beyond


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Fireworks! Cohen Dumps Docs On Trump.

Former Trump “Fixer” Michael Cohen testifies before Oversight Committee

photo D. Leeds / CBS

Michael Cohen (President Donald Trump’s former personal lawyer) sat before a House Of Representatives committee on Wednesday. Cohen has also been referred to as Trump’s “fixer”. Today he served as an informer, and allowed us access behind the Trump scenes. 

photo D. Leeds / CBS

Read More: Owes or Owed: Either Way Trump’s Dealings with Bank of China are Questionable

In an opening statement, Cohen minced no words, he characterized his former high profile client as “…a racist. He is a conman. He is a cheat.’ He also proclaimed “Donald Trump is a man who ran for office to make his brand great, not to make our country great.”

“…a Racist. He is a Conman. He is a Cheat.’

Cohen arrived willing to talk, and was poised. He provided detailed documents, and even provided checks signed by President Trump. One of the most stunning documents was a manipulated record of President Trump’s assets. According to Cohen, this document was used to rank higher on a Forbes magazine net worth list. This same document was also used as a bid to buy the Buffalo NFL team the Bills. The document was orchestrated using inflated property value, by the square foot. On aside, he also explained how he coordinated rigging online polls for Trump.

photo D. Leeds / CBS

Mr. Cohen also explained how they secured a $130,000 hush money pay-off to Stephanie Clifford aka Stormy Daniels. Clifford signed a Non Disclosure Deal to keep an affair with President Trump private. Cohen also explained how the “Catch & Kill” technique works.  Former lawyer, Cohen explained how he used the “Catch & Kill” maneuver to secure an exclusive “life story rights agreement” with Karen McDougal and then shelving the story. Cohen also explained how Trump hid his reimbursed payments. Cohen also took the opportunity to apologize to First Lady Melania Trump earlier in the hearing. Later, Cohen even recollected an incident where President Trump put Cohen on the phone to lie to The First Lady. 

The hearing was the first comprised of a Democrat led House, with Rep. Elijah Cummings presiding. Cummings also stated “The days of this committee protecting the president at all costs are over. They’re over,”

“The days of this committee protecting the president at all costs are over. They’re over,”

Rep. Elijah Cummings

Read more: Dark Towers tells Deutsche Bank Story of Trump, post Bankruptcy yet Swimming in Loans

https://lynxotic.com/wp-content/uploads/2019/02/Sader-Business-Cards.mov

Republican congress members were hostile, and aggressive. Ranking member Jim Jordan attacked Cohen’s credibility.

Cohen pleaded guilty last November for lying to congress, in their first meeting. His lies were allegedly done on behalf of the President, and to protect the Trump Organization. 


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Aid Vs. Aide : National Emergencies in the Age of Trump

Is Trump’s “Emergency” really an outlier?

President Trump declared the emergency on Friday to reroute billions of dollars to fund the creation of his long promised border wall. This, after Congress passed a bill that allocated $1.375 billion for its construction. With this emergency, Trump plans to allocate $8 billion to the wall, as well as $3.6 billion in military construction funds, and taking an additional $2.5 billion from the Department of Defense. 

Presidents who claim National Emergencies rely on various moves and powers provided by Congress. Congress has long been the core source of emergency authority for the executive branch. Congress can pass laws to give the president wiggle room during military, economic, health, and labor issues. 

In 1976, The National Emergencies Act was passed. It basically ended all previous national emergencies, and formally bestowed emergency powers to the president. 

The White House has contended that the maneuver is a commonplace one and needed to skirt gridlock . According to the Brennan Center for Justice, presidents have declared national emergencies 60 times, including Trump.

The common National Emergency consists of these elements:

  • prohibiting unlawful trade and exporting
  • regulating/blocking/isolating bad actors
  • Emergency aid 

Read More: Trump attacks Planet: Cuts Fuel Efficiency Standards, hoping to Rescue Putin and MBS

Sixteen states have filed a lawsuit in a Northern California federal court against President Trump’s declaration of a national emergency, in it, contending that the executive power to fund a border wall unconstitutional.

These 16 states argue that the Emergency Act is unconstitutional because it’s separating money and power from the states. In a recent widely covered speech, Trump acknowledged this legal hurdle with his sing-song break down:

https://www.youtube.com/watch?v=p4mBk-K93JE

Read More: Five New Books about how We can Change the Direction of the USA in November and Beyond

This scenario is unique due to a National Emergency being linked to a  rallying cry, and campaign promise. 

Is it unconstitutional? 

All roads lead to the Supreme Court—where the party line suits Trump.


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