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The man who has never accepted responsibility, apologized, or admitted a mistake in his entire life isn’t about to start now.
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U.S. stock market loses $5 trillion in value in three weeks
https://www.cnbc.com/2025/03/14/us-stock-market-loses-5-trillion-in-value-in-three-weeks.html
#u.s. stock market#stock market#wall street#wall streeet journal#failure#failboat#epic fail#failtopia#fail#class war#ausgov#politas#auspol#tasgov#taspol#australia#fuck neoliberals#neoliberal capitalism#anthony albanese#albanese government
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Washington Post’s Criticism of Trump’s Tariffs
A Washington Post editorial voices criticism of Trump’s policy and comments about tariffs. “The market never lies. It is often mistaken, as it was during the post-election honeymoon, when investors seemed to assume Donald Trump didn’t really mean it about tariffs. But it always tells you exactly what it thinks.” “Right now, it is thinking that the stiff tariffs Trump has imposed will cost…
#Canada#Federal Reserve Bank of Atlanta#Mexico#President Trump#tariffs#U.S. economy#U.S. stock market
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How the Rise in Dollar Index Can Affect the Stock Markets in the U.S. and Worldwide
The Dollar Index (DXY) is a key measure of the value of the U.S. dollar relative to a basket of six major foreign currencies: the Euro (EUR), Japanese Yen (JPY), British Pound (GBP), Canadian Dollar (CAD), Swedish Krona (SEK), and Swiss Franc (CHF). Investors and policymakers closely monitor the Dollar Index as an indicator of the strength or weakness of the U.S. dollar in the global economy. A…
#Commodity Prices#Corporate Earnings#Currency Fluctuations#Currency Strength#Dollar Appreciation#Dollar Index#economic impact#Emerging Markets#Federal Reserve#Financial Analysis#Financial Markets#Global Economics#Global Stock Markets#Global Trade#Interest Rates#International Stocks#Investment Strategy#Risk Management#Stock market volatility#stock markets#stock trading#U.S. Dollar#U.S. Stock Market
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Get insights into China's economic future! This article explores the lessons from 1953, a pivotal year for the U.S. stock market, and analyzes how they relate to China's manufacturing shift, technological advancements, and the impact of global economic forces.
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What a front cover...
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LETTERS FROM AN AMERICAN
March 6, 2025
Heather Cox Richardson
Mar 07, 2025
This morning, Ted Hesson and Kristina Cooke of Reuters reported that the Trump administration is preparing to deport the 240,000 Ukrainians who fled Russia’s attacks on Ukraine and have temporary legal status in the United States. Foreign affairs journalist Olga Nesterova reminded Americans that “these people had to be completely financially independent, pay tax, pay all fees (around $2K) and have an affidavit from an American person to even come here.”
“This has nothing to do with strategic necessity or geopolitics,” Russia specialist Tom Nichols posted. “This is just cruelty to show [Russian president Vladimir] Putin he has a new American ally.”
The Trump administration’s turn away from traditional European alliances and toward Russia will have profound effects on U.S. standing in the world. Edward Wong and Mark Mazzetti reported in the New York Times today that senior officials in the State Department are making plans to close a dozen consulates, mostly in Western Europe, including consulates in Florence, Italy; Strasbourg, France; Hamburg, Germany; and Ponta Delgada, Portugal, as well as a consulate in Brazil and another in Turkey.
In late February, Nahal Toosi reported in Politico that President Donald Trump wants to “radically shrink” the State Department and to change its mission from diplomacy and soft power initiatives that advance democracy and human rights to focusing on transactional agreements with other governments and promoting foreign investment in the U.S.
Elon Musk and the “Department of Government Efficiency” have taken on the process of cutting the State Department budget by as much as 20%, and cutting at least some of the department’s 80,000 employees. As part of that project, DOGE’s Edward Coristine, known publicly as “Big Balls,” is embedded at the State Department.
As the U.S. retreats from its engagement with the world, China has been working to forge greater ties. China now has more global diplomatic posts than the U.S. and plays a stronger role in international organizations. Already in 2025, about 700 employees, including 450 career diplomats, have resigned from the State Department, a number that normally would reflect a year’s resignations.
Shutting embassies will hamper not just the process of fostering goodwill, but also U.S. intelligence, as embassies house officers who monitor terrorism, infectious disease, trade, commerce, militaries, and government, including those from the intelligence community. U.S. intelligence has always been formidable, but the administration appears to be weakening it.
As predicted, Trump’s turn of the U.S. toward Russia also means that allies are concerned he or members of his administration will share classified intelligence with Russia, thus exposing the identities of their operatives. They are considering new protocols for sharing information with the United States. The Five Eyes alliance between Australia, Canada, New Zealand, the United Kingdom and the U.S. has been formidable since World War II and has been key to countering first the Soviet Union and then Russia. Allied governments are now considering withholding information about sources or analyses from the U.S.
Their concern is likely heightened by the return to Trump’s personal possession of the boxes of documents containing classified information the FBI recovered in August 2022 from Mar-a-Lago. Trump took those boxes back from the Department of Justice and flew them back to Mar-a-Lago on February 28.
A CBS News/YouGov poll from February 26–28 showed that only 4% of the American people sided with Russia in its ongoing war with Ukraine.
The unpopularity of the new administration's policies is starting to show. National Republican Congressional Committee chair Richard Hudson (R-NC) told House Republicans on Tuesday to stop holding town halls after several such events have turned raucous as attendees complained about the course of the Trump administration. Trump has blamed paid “troublemakers” for the agitation, and claimed the disruptions are part of the Democrats’ “game.” “[B]ut just like our big LANDSLIDE ELECTION,” he posted on social media, “it’s not going to work for them!”
More Americans voted for someone other than Trump than voted for him.
Even aside from the angry protests, DOGE is running into trouble. In his speech before a joint session of Congress on Tuesday, Trump referred to DOGE and said it “is headed by Elon Musk, who is in the gallery tonight.” In a filing in a lawsuit against DOGE and Musk, the White House declared that Musk is neither in charge of DOGE nor an employee of it. When pressed, the White House claimed on February 26 that the acting administrator of DOGE is staffer Amy Gleason. Immediately after Trump’s statement, the plaintiffs in that case asked permission to add Trump’s statement to their lawsuit.
Musk has claimed to have found billions of dollars of waste or fraud in the government, and Trump and the White House have touted those statements. But their claims to have found massive savings have been full of errors, and most of their claims have been disproved. DOGE has already had to retract five of its seven biggest claims. As for “savings,” the government spent about $710 billion in the first month of Trump’s term, compared with about $630 billion during the same timeframe last year.
Instead of showing great savings, DOGE’s claims reveal just how poorly Musk and his team understand the work of the federal government. After forcing employees out of their positions, they have had to hire back individuals who are, in fact, crucial to the nation, including the people guarding the U.S. nuclear stockpile. In his Tuesday speech, Trump claimed that the DOGE team had found “$8 million for making mice transgender,” and added: “This is real.”
Except it’s not. The mice in question were not “transgender”; they were “transgenic,” which means they are genetically altered for use in scientific experiments to learn more about human health. For comparison, S.V. Date noted in HuffPost that in just his first month in office, Trump spent about $10.7 million in taxpayer money playing golf.
Josh Marshall of Talking Points Memo pointed out today that people reporting on the individual cuts to U.S. scientific and health-related grants are missing the larger picture: “DOGE and Donald Trump are trying to shut down advanced medical research, especially cancer research, in the United States…. They’re shutting down medicine/disease research in the federal government and the government-run and funded ecosystem of funding for most research throughout the United States. It’s not hyperbole. That’s happening.”
Republicans are starting to express some concern about Musk and DOGE. As soon as Trump took office, Musk and his DOGE team took over the Office of Personnel Management, and by February 14 they had begun a massive purge of federal workers. As protests of the cuts began, Trump urged Musk on February 22 to be “more aggressive” in cutting the government, prompting Musk to demand that all federal employees explain what they had accomplished in the past week under threat of firing. That request sparked a struggle in the executive branch as cabinet officers told the employees in their departments to ignore Musk. Then, on February 27, U.S. District Judge William Alsup found that the firings were likely illegal and temporarily halted them.
On Tuesday, Senate majority leader John Thune (R-SD) weighed in on the conflict when he told CNN that the power to hire and fire employees properly belongs to Cabinet secretaries.
Yesterday, Musk met with Republican— but no Democratic— members of Congress. Senators reportedly asked Musk—an unelected bureaucrat whose actions are likely illegal—to tell them more about what’s going on. According to Liz Goodwin, Marianna Sotomayor, and Theodoric Meyer of the Washington Post, Musk gave some of the senators his phone number and said he wanted to set up a direct line for them when they have questions, allowing them to get a near-instant response to their concerns.” Senator Lindsey Graham (R-SC) told reporters that Musk told the senators he would “create a system where members of Congress can call some central group” to get cuts they dislike reversed.
This whole exchange is bonkers. The Constitution gives Congress alone the power to make appropriations and pass the laws that decide how money is spent. Josh Marshall asks: “How on earth are we in this position where members of Congress, the ones who write the budget, appropriate and assign the money, now have to go hat in hand to beg for changes or even information from the guy who actually seems to be running the government?”
Later, Musk met with House Republicans and offered to set up a similar way for the members of the House Oversight DOGE Subcommittee to reach him. When representatives complained about the random cuts that were so upsetting constituents. Musk defended DOGE’s mistakes by saying that he “can’t bat a thousand all the time.”
This morning, U.S. District Judge John McConnell Jr. ruled in favor of a group of state attorneys general from 22 Democratic states and the District of Columbia, saying that Trump does not have the authority to freeze funding appropriated by Congress. McConnell wrote that the spending freeze "fundamentally undermines the distinct constitutional roles of each branch of our government." As Joyce White Vance explained in Civil Discourse, McConnell issued a preliminary injunction that will stay in place until the case, called New York v. Trump, works its way through the courts. The injunction applies only in the states that sued, though, leaving Republican-dominated states out in the cold.
Today, Trump convened his cabinet and, with Musk present, told the secretaries that they, and not Musk, are in charge of their departments. Dasha Burns and Kyle Cheney of Politico reported that Trump told the secretaries that Musk only has the power to make recommendations, not to make staffing or policy decisions.
Trump is also apparently feeling pressure over his tariffs of 25% on goods from Canada and Mexico and an additional 10% on imports from China that went into effect on Tuesday, which economists warned would create inflation and cut economic growth. Today, Trump first said he would exempt car and truck parts from the tariffs, then expanded exemptions to include goods covered by the U.S.-Mexico-Canada trade agreement (USMCA) Trump signed in his first term. Administration officials say other tariffs will go into effect at different times in the future.
The stock market has dropped dramatically over the past three days owing to both the tariffs and the uncertainty over their implementation. But Trump denied his abrupt change had anything to do with the stock market.
“I’m not even looking at the market,” Trump said, “because long term, the United States will be very strong with what’s happening.”
LETTERS FROM AN AMERICAN
HEATHER COX RICHARDSON
#Letters From an American#Heather Cox Richardson#the Stock Market#economic outlook#USMCA#trade#U.S.-Mexico-Canada trade agreement#tariffs#misinformation#war in ukraine#the lying administration#the lying cabinet
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Sort of. For a little while.
Not that's it's likely to matter because SCOTUS.
This was before the pause, but it's about Trump's goals, so I'm keeping it.
#trade war#Tariffs#bond markets#Donald Trump#China#Trade#US Foreign Policy#U.S. stocks#Stock Market#US Politics#US Economy#Adam Schiff#Insider Trading#Pete Buttigieg#News
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youtube
Wealthy investors have fled the US Stockmarket.
#us politics#donald trump#fuck trump#project 2025#fight project 2025#fuck republicans#fuck conservatives#republicans are domestic terrorists#survive out of spite#republicans are evil#us stock market#investment#us economy#american economy#u.s. economy#economics#Youtube
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The stock market has crashed, the tariff will make everything expensive, and Trump will sign to expand logging
The market and the tariff have already been spoken of, awful decisions; last time we had such high tariff was right before the great depression. I rest my case,
Also, to try and keep up with the demand for timber and other goods that come from nature, the administration will sign an executive order to expand logging across 280 million acres of national forests and public lands. Do you like nature? sorry, now we are going to destroy a lot of it because the imported ones are too expensive.
Elon wants both Amtrak and the U.S postal service to be private instead of government run.
And Al Green will be censured for disrupting President Trump's address to Congress.
Also, the administration said this morning that they were going to start dismantling the Department of Education, and immediately backpaddle.
#rant post#us politics#elon musk#elongated muskrat#trump administration#national forest#public space#public lands#amtrak#u.s.#u.s. politics#postal service#tariffs#stock market#stock trading#environment#environmetalists#environment issues#pollution#conservation#ecology#climate change#environmentalism
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Trump has now officially wiped out an entire YEAR of economic gains in four days.
But hey, egg prices right?
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China sees the U.S. trade deal as a huge win for Beijing
Chinese officials, influencers and state-run media on Monday were casting the initial trade agreement and 90-day tariff pause with the U.S. as a victory and a vindication of Beijing’s negotiating strategy. They are arguing that their defiant public posture worked and was a major reason they were able to strike a deal with U.S. officials in Switzerland with relatively few concessions. “China’s…
#Beijing#Breaking News: Economy#Breaking News: Politics#business news#China#Donald J. Trump#Donald Trump#Economy#Elections#Foreign policy#Politics#Scott Bessent#Stock markets#Tariff#U.S. Economy#United States
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Wall Street Journal’s Criticism of Trump’s Tariff Decisions and Analysis of His Values
Wall Street Journal’s two recent editorials have criticized President Trump’s tariff decisions and the Journal has offered commentary on Trump’s State of the Union address to the Congress and the opinion of a Journal columnist (William Galston) on how Trump sees the world. Editorial: “Trump Takes the Dumbest Tariff Plunge”[1] “President Trump likes to cite the stock market when it’s rising as a…
#Canada#China#Dow Jones Industrial Average#energy prices#Greenland#Keir Starmer#Kim Jong-un#Mexico#Neville Chamberlain#Panama#President Donald Trump#Richard Nixon#rules-based international order#truck prices#Trump voters#Trump&039;s foreign policy#Trump&039;s State of the Union Speech#U.S. agriculture#U.S. stock market#U.S. tariffs#Vladimir Putin#William Galston#Winston Churchill#Xi Jinping#Zalensky
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Trump’s tariff bombshell sparks a U.S. stock market crash! Trillions wiped out, recession fears soar, and global trade takes a hit. Dive into the chaos and what’s next for the economy.
#auto tariffs#Consumer costs#Dow Jones decline#Economic chaos#global trade#Market meltdown#Nasdaq plunge#Recession fears#Retail stocks#S&P 500 drop#Small business impact#Stagflation risk#Trade deficits#Trump tariffs#U.S. stock market crash
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The Resilience of the U.S. Stock Market Amid Political Uncertainty
The Current State of the U.S. Stock Market Amid Political Uncertainty The U.S. election has proven to be a thrilling contest, and the global atmosphere remains anything but serene. Interestingly, the stock market has maintained a surprisingly calm demeanor amidst this turbulence. This remarkable resilience suggests that many investors might be operating under the belief that national elections…
#economic conditions#election impact#Federal Reserve#fixed-income sector#government debt#interest rates#investment strategy#market trends#political uncertainty#U.S. stock market
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Japan's Nikkei treads water as central bank meetings, tariff deadline loom
https://img.etimg.com/thumb/msid-122992258,width-1200,height-630,imgsize-74100,overlay-etmarkets/articleshow.jpg Japan’s Nikkei share average ended flat on Wednesday as investors braced for a three-day period that will see policy decisions from the Federal Reserve and Bank of Japan, followed by U.S. President Donald Trump’s deadline for trade deals. The Nikkei finished the day little changed at…
#Bank of Japan interest rates#Federal Reserve policy decisions#Japan stock market#Japanese equities#Nikkei share average#stock market trends in Japan#Sumitomo Pharma#trade deals#U.S. tariffs update
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golfing nero : Dave : @FinancialReview
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LETTERS FROM AN AMERICAN
April 6, 2025 (Sunday)
Heather Cox Richardson
Apr 07, 2025
After President Donald Trump’s tariff announcements on April 2 wiped $5 trillion dollars from the stock market, the Republican Party is scrambling.
Farmers, who were a part of Trump’s base, are “struck and shocked” by the tariffs, the president of the South Dakota Farmers Union told Lauren Scott of CBC News, saying they will have a “devastating effect.” Rob Copeland, Lauren Hirsch, and Maureen Farrell of the New York Times report that Wall Street leaders who backed Trump are now criticizing him publicly, with one calling for someone to stop him. The size of yesterday’s peaceful protests around the country, less than 100 days into Trump’s term when he should be enjoying a honeymoon, demonstrated growing fury at the administration’s actions.
Yesterday, in the midst of the economic crisis and as millions of protesters gathered across the country, the White House announced that “[t]he President won his second round matchup of the Senior Club Championship today in Jupiter, FL, and advances to the Championship Round tomorrow.” This afternoon, President Donald J. Trump posted a video of himself hitting a golf ball off a tee, perhaps as a demonstration that he is unconcerned about the chaos in the markets.
When Trump administration officials Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and National Economic Council director Kevin Hassett appeared on this morning’s Sunday shows, their attempts to reassure Americans and deflect concerns also sounded out of touch.
Bessent, a billionaire, told Kristen Welker of NBC’s Meet the Press that the administration is creating a new, more secure economic system and that Americans “who have put away for years in their savings accounts, I think don’t look at the day-to-day fluctuations of what’s happening.” He went on to suggest that the losses were likely not that significant and would turn out fine in the long term.
Lutnick insisted that the tariffs are about national security and bringing back manufacturing, although the administration has frozen the Inflation Reduction Act funding for the manufacturing President Joe Biden brought to the U.S., overwhelmingly in Republican-dominated districts. Lutnick kept hitting on the MAGA talking point that other countries are ripping the U.S. off, and insisted that the tariffs are here to stay.
On This Week by ABC News, Hassett took the opposite position: that countries are already calling the White House to begin tariff negotiations. Host George Stephanopoulos asked Hassett about the video Trump posted on his social media account claiming that he was crashing the market on purpose, forcing him to say that crashing the economy was not part of Trump’s strategy. Hassett claimed that the tariffs will not cost consumers more and that Trump is “trying to deliver for American workers.”
The tariffs not only have forced administration officials into contradictory positions, but also have brought into the open the rift between old MAGA and billionaire Elon Musk.
Trump’s tariff policy reflects the ideas of his senior counselor on manufacturing and trade, Peter Navarro, a China hawk who invented an “expert” to support his statements in his own books. Musk, who opposes the tariffs, has taken shots at Navarro on his social media platform X. On Saturday, Musk directly contradicted Trump and MAGA when he told a gathering of right-wing Italians that he wants the U.S. and Europe to create a tariff-free zone as well as "more freedom of people to move between Europe and North America." On the Fox News Channel this morning, Navarro retorted that Musk “sells cars” and is just trying to protect his own interests.
Republicans also have to quell fires as the demands of the very different constituencies Trump brought into his coalition to win in 2024 are creating growing anger. A second child has now died of measles in West Texas, and as of this morning, Health and Human Services Secretary Robert F. Kennedy Jr., who has a history of opposing vaccines, had continued to call vaccines a personal decision. Although he is not a doctor, he pushed the idea that ingesting Vitamin A helps patients recover from measles. Since his suggestion, a hospital in Texas says it is now treating children whose bodies have toxic levels of Vitamin A.
During the confirmation process for his post, Kennedy seems to have promised Senator Bill Cassidy (R-LA), chair of the Committee on Health, Education, Labor, and Pensions and a medical doctor, that he would not alter vaccine systems, but since taking office he has made dramatic cuts. Today, Cassidy posted on X, “Everyone should be vaccinated!” and added: “Top health officials should say so unequivocally b/4 another child dies.”
Evidently feeling the pressure as the measles outbreak spreads, Kennedy this afternoon conceded on X that “[t]he most effective way to prevent the spread of measles is the MMR vaccine.”
Today, Dan Diamond and Hannah Natanson of the Washington Post reported that cuts to the Food and Drug Administration (FDA) have even Republican lawmakers and former Trump officials from his first term worried that the country is at risk of food-related disease outbreaks like the 2022 contamination of infant formula. On April 4, Heather Vogell of ProPublica reported that the Abbott Laboratories factory at the heart of the 2022 crisis continues to use the same unsanitary practices. Employees told her that workers still take shortcuts when cleaning and checking equipment for bacteria as supervisors try to increase production and retaliate against those who complain about problems.
The White House told Diamond and Natanson that cuts to the FDA and other health agencies will make them more “nimble and strategic.” Abbott Laboratories told Vogell that the workers’ assertions were “untrue or misleading” and said it “stands behind the quality and safety of all our products.”
Diamond and Natanson note that experts who worked under both Republican and Democratic presidents, as well as former Trump officials and Republican lawmakers are also concerned about cuts to the National Oceanic and Atmospheric Administration (NOAA), which monitors atmospheric and ocean systems and predicts weather, and to the Federal Emergency Management Agency (FEMA) that responds to disasters. Storms across the South have been wreaking havoc in the past days. Today alone saw deadly weather in Arkansas, Texas, Missouri, and Oklahoma; the governors of Tennessee and Kentucky have declared states of emergency.
Reporter James Fallows notes that the U.S. senators from the states hardest hit—Arkansas, Kentucky, Oklahoma, Mississippi, Missouri, Tennessee, and Texas—are all Republicans and are all backing Trump and Musk’s “Department of Government Efficiency,” which is behind the cuts to NOAA and FEMA.
Today, Michael Sainato of The Guardian reported that workers at the Social Security Administration say that cuts to staffing and services along with policy changes have created “complete, utter chaos” at the agency that is threatening to cause a “death spiral.” Acting commissioner of the Social Security Administration Leland Dudek told Sainato that “we are updating our policy to provide better customer service to the country’s most vulnerable populations.”
Late Thursday, Trump fired General Timothy D. Haugh, the director of the National Security Agency (NSA) and of the U.S. Cyber Command, as well as Haugh’s deputy at the NSA, Wendy Noble, and several staff members from the White House National Security Council. He apparently did so at the recommendation of right-wing conspiracy theorist Laura Loomer. The NSA collects information from overseas computer networks, while Cyber Command engages in both offensive and defensive operations on them.
While Democrats are out front, lawmakers across the political spectrum are concerned about the firings. Senator Angus King (I-ME), who sits on the Senate Intelligence Committee, told Julian E. Barnes of the New York Times: “Our country is under attack right now in cyberspace, and the president has just removed our top general from the field for no reason at the recommendation of someone who knows nothing about national security or even the job this general does.”
And then there is the crisis over the arrest and rendition of Kilmar Abrego Garcia to prison in El Salvador. Abrego Garcia was in the U.S. legally, is married to a U.S. citizen, and is the father of a U.S. citizen. In 2019 a court barred the government from deporting him to El Salvador. On March 31 an official from U.S. Immigration and Customs Enforcement (ICE) told the court under oath that Abrego Garcia had been arrested and deported to prison because of an “administrative error.” And yet the government also said it could not get him back because he is no longer in U.S. jurisdiction.
After a hearing on Friday, U.S. District Judge Paula Xinis ordered the government to bring Abrego Garcia back to the United States no later than 11:59 p.m. on April 7. The administration immediately filed an emergency motion to stop the order while it appeals her decision. Today, Xinis filed her opinion, which said that “there were no legal grounds whatsoever for his arrest, detention, or removal…. [H]is detention appears wholly lawless.” It is “a clear constitutional violation.” And yet administration officials “cling to the stunning proposition that they can forcibly remove any person—migrant and U.S. citizen alike—to prisons outside the United States, and then baldly assert they have no way to effectuate return because they are no longer the 'custodian,' and the Court thus lacks jurisdiction.”
Today, Cecilia Vega, Aliza Chasan, Camilo Montoya-Galvez, Andy Court, and Annabelle Hanflig of CBS News’s 60 Minutes reported that 75% of the Venezuelans the Trump administration sent to prison in El Salvador “have no apparent criminal convictions or even criminal charges.” Another 22% have records for nonviolent crimes like shoplifting or trespassing. A dozen or so are accused of murder, rape, assault, or kidnapping. When the reporters reached out to the Department of Homeland Security about these numbers, a spokesperson said that those without criminal records “are actually terrorists, human rights abusers, gangsters, and more; they just don't have a rap sheet in the U.S.”
This utter disregard for the constitutional right to due process is raising alarm among Americans who have noted that when Trump declared an emergency at the southern border on January 20, he ordered the secretary of defense and the secretary of homeland security to advise him whether they thought it necessary to invoke the 1807 Insurrection Act. That act allows a president during times of civil unrest to use the military against U.S. citizens.
U.S. stock futures plunged again tonight, with Dow Jones Industrial Average futures down 1,250 points, or 3.3%, S&P 500 futures down 3.7%, and Nasdaq futures down 4.6%. And yet Trump is doubling down on tariffs, posting that they are “a beautiful thing to behold…. Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!”
Republican leaders have not silenced the chatter about Trump serving a third term, despite its obvious unconstitutionality, at least in part because they know he is the only person who can turn out MAGA voters. But their calculations appear to be changing. Today, Attorney General Pam Bondi told Fox News Sunday that Trump is a “very smart man, and…I wish we could have him for 20 years as our president,” but that “I think he’s going to be finished, probably, after this term.”
LETTERS FROM AN AMERICAN
HEATHER COX RICHARDSON
#the economy#stock market#Letters From An American#Heather Cox Richardson#Republicans#MAGA#Dave#Financial times#U.S. Stock Futures#NOAA#FEMA
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