Category : Office of the President

(Telegraph) Ambrose Evans-Pritchard-Revealed: Trump’s plan to force Ukraine to restore Putin’s gas empire

Donald Trump is holding a gun to the head of Volodymyr Zelensky, demanding huge reparations payments and laying claim to half of Ukraine’s oil, gas, and hydrocarbon resources as well as almost all its metals and much of its infrastructure.

The latest version of his “minerals deal”, obtained by The Telegraph, is unprecedented in the history of modern diplomacy and state relations.

“It is an expropriation document,” said Alan Riley, an expert on energy law at the Atlantic Council. “There are no guarantees, no defence clauses, the US puts up nothing.

“The Americans can walk away, the Ukrainians can’t. I’ve never seen anything like it before.”

Read it all.

Posted in America/U.S.A., Ethics / Moral Theology, Foreign Relations, Military / Armed Forces, Office of the President, President Donald Trump, Russia, Ukraine

(Economist) The unpredictability of Trump’s tariffs will increase the pain

Donald Trump has already raised the average tariff on America’s imports by about twice as much as he did in his entire first presidency. Just as damaging, though, has been the uncertainty about what comes next.

After April 2nd—“Liberation Day”, Mr Trump calls it—there will be another round of levies. The president promises 25% tariffs on all imported cars and country-by-country “reciprocal” tariffs based on how much his administration objects to a counterparty’s trade and tax policies. Will these plans change? Who knows? Mr Trump’s use of emergency powers means that he can do as he pleases.

This freedom may suit him. It does not, however, suit America’s businesses, which have no idea how bad the trade war will get; nor its consumers, who fear future inflation. The liberation America needs is from the paralysing uncertainty brought about by Mr Trump’s chaotic approach.

Since the president came to office, hefty tariffs on Canada and Mexico have twice been announced only to be mostly postponed. A long-threatened 10% levy on China has doubled in size.

Read it all.

Posted in * Economics, Politics, Corporations/Corporate Life, Economy, Foreign Relations, President Donald Trump

(WSJ) Corporate America’s Euphoria Over Trump’s ‘Golden Age’ Is Giving Way to Distress

Rapturous applause and a sea of phones in the air greeted President Trump as he walked on stage and declared, “The golden age of America has officially begun.”

He was barely a month into office when the Saudi-backed investor conference in Miami captured the optimism. “The Nasdaq is up nearly 10% in just a few months,” Trump said, ticking through a list of economic indicators. “The Dow Jones Industrial Average is up 2,200 points.” On the same day, Feb. 19, the S&P 500 hit an all-time high.

But as Trump unleashed an on-one-day, off-the-next tariff fight with America’s largest trading partners, those gains unraveled. In just a few weeks, the S&P lost $4 trillion in value driven by his whipsaw trade policy, receding optimism about an artificial-intelligence boom and souring consumer sentiment caused by threats of higher prices and weaker growth. A measure of consumer sentiment fell in March for the fourth straight month to the lowest level since January 2021, the Conference Board, a business-research group, said Tuesday.

Markets in the past week have recovered some losses, but Trump is preparing his next shock: an April 2 “liberation day” suite of reciprocal tariffs he said will be applied on any trading partner that charges tariffs or imposes other trade barriers on U.S. products.

Read it all.

Posted in * Economics, Politics, Corporations/Corporate Life, Economy, Politics in General, President Donald Trump, Psychology

(FT) Moody’s warns on deteriorating outlook for US public finances

Credit rating group Moody’s has warned on the US fiscal outlook, saying President Donald Trump’s trade tariffs could hamper the country’s ability to cope with a growing debt pile and higher interest rates.

The rating agency said on Tuesday that America’s “fiscal strength is on course for a continued multiyear decline”, having already “deteriorated further” since it assigned a negative outlook to America’s top-notch triple A credit rating in November 2023.

While Moody’s highlighted the “extraordinary” economic resilience of the US and the role of the dollar and the Treasury market as backbones of the global financial system, its analysts also warned on Tuesday that the policies of the second Trump administration — including sweeping tariffs and plans for tax cuts — could do more harm than good for government revenues.

“The potential negative credit impact of sustained high tariffs, unfunded tax cuts and significant tail risks to the economy have diminished prospects that these formidable strengths will continue to offset widening fiscal deficits and declining debt affordability,” Moody’s said.

Read it all.

Posted in * Economics, Politics, America/U.S.A., Budget, Economy, President Donald Trump, The U.S. Government

China’s Government Is Short of Money as Its Leaders Face Trump

Buried in China’s latest government budget were some numbers that add up to an alarming trend. Tax revenue is dropping.

The decline means that China’s national government has less money to address the country’s serious economic challenges, including a housing market crash and the near bankruptcy of hundreds of local governments.

Weak tax revenue also puts China’s leaders in a box as they square off with President Trump, who has imposed 20 percent tariffs on goods from China and threatened more to come. Beijing has less spare cash to help the export industries that are driving economic growth but could be hurt by tariffs.

The drop in tax collections leaves China’s leaders in an unfamiliar position. Until the last several years, China enjoyed robust revenue, which it used to invest in infrastructure, a rapid military buildup and extensive industrial subsidies. Even as economic growth has slowed gradually over the past 12 years, taking a dent out of consumer spending, tax revenue held fairly steady until recently.

Read it all.

Posted in * Economics, Politics, America/U.S.A., China, Economy, Foreign Relations, President Donald Trump, Taxes

(Bloomberg) Trump Talks of Dividing Ukraine ‘Assets’ Before Putin Call

President Trump said the US and Russia are already talking about dividing “assets” as part of a push to end the fighting in Ukraine, the latest sign that he may be preparing to sacrifice Kyiv’s interests when he speaks with Vladimir Putin on Tuesday.

One objective of the call is expected to be getting the Russian president to agree to a 30-day ceasefire that Trump proposed this month and Ukraine has agreed to. Putin has been noncommittal so far, saying he accepted the idea in principle but wants certain conditions to be met.

“Tomorrow morning I will be speaking to President Putin concerning the War in Ukraine,” Trump said Monday evening in a social media post. “Many elements of a Final Agreement have been agreed to, but much remains.” Those remarks, along with Trump’s comments to reporters Sunday night that the two sides were already talking about how to divide assets, suggest that many decisions have already been made — with or without Ukraine.

Read it all.

Posted in America/U.S.A., Foreign Relations, Military / Armed Forces, Politics in General, President Donald Trump, Russia, Ukraine

(Economist) Will Trump’s tariffs turbocharge foreign investment in America?

Some firms may even intend to quietly pare back their investment plans. In 2017 Foxconn, a Taiwanese maker of electronics, vowed to spend $10bn on a plant in Wisconsin that would employ 13,000 people. Mr Trump visited the proposed site, proclaiming it the “eighth wonder of the world”. Yet after much watering down of plans, the company said last year that it had spent just $1bn on the project, and created only 1,000 jobs.

Faced with American tariffs, some foreign companies could instead direct their attention elsewhere. That has been the case with Chinese firms, which bore the brunt of the duties imposed during Mr Trump’s first term. The flow of greenfield FDI from China to America slid from $8.2bn in 2016 to $6.5bn last year. According to Morgan Stanley, listed Chinese firms generated around a quarter of their foreign sales in America in 2024, down from roughly a half in 2016. Instead, they have turned to the fast-growing economies of the global south.

If Mr Trump’s objective is to encourage foreign businesses to build in America, there are more effective policies at his disposal than tariffs. On the campaign trail the president also promised to slash red tape. Tortuous planning processes have long held back American manufacturing. For foreign firms, fixing those would be far more motivating. 

Read it all.

Posted in America/U.S.A., Corporations/Corporate Life, Economy, Ethics / Moral Theology, Foreign Relations, President Donald Trump, Taxes

(Economist) How Trump provoked a stockmarket sell-off

The sell-off shows no sign of stopping. America’s S&P 500 index dropped by another 3% on March 10th, leaving the world’s most watched stockmarket down by almost 9% since its peak last month. The NASDAQ, dominated by tech firms, has fallen by 13%. It is not quite the bold new era of American growth that President Donald Trump had in mind.

His unpredictable trade policies got things going. Tariffs of 25% on imports from Canada and Mexico—which were instituted on March 4th, before being suspended for a month on March 6th—top investors’ list of concerns. But after years of impressive growth, the future of the American economy is a growing source of anxiety, too, with worries provoked by a steady drip of discouraging data. Such news is beginning to undermine belief in American exceptionalism: after all, investors have seen much better returns in China and Europe this year. And as is often the case when markets fall, each development has revealed fresh things to lose sleep over.

Read it all.

Posted in * Economics, Politics, Economy, President Donald Trump, Stock Market

(Economist) Donald Trump’s economic delusions are already hurting America

In his speech to Congress on March 4th President Donald Trump painted a fantastical picture. The American Dream, he declared, was surging bigger and better than ever before. His tariffs would preserve jobs, make America richer still, and protect its very soul. Unfortunately, in the real world things look different. Investors, consumers and companies show the first signs of souring on the Trumpian vision. With his aggressive and erratic protectionism, Mr Trump is playing with fire.

By imposing 25% tariffs on goods from Canada and Mexico, also on March 4th, Mr Trump is setting light to one of the world’s most integrated supply chains. Although he belatedly delayed duties on cars by one month, plenty of other industries will suffer. He has also raised tariffs on China and has threatened the European Union, Japan and South Korea. Some of these duties may also be deferred; others may never materialise. Yet in economics as in foreign relations, it is becoming clear that policy is being set on the president’s whim. That will cause lasting damage at home and abroad.

When Mr Trump won the election in November, investors and bosses cheered him on. The S&500 rose by nearly 4% in the week after the vote in anticipation of the new president lighting a bonfire of red tape and bringing about generous tax cuts. His protectionist and anti-immigration rhetoric, investors hoped, would come to nothing. A stockmarket correction or a return of inflation would surely curb his worst instincts.

Alas, those hopes are going up in smoke….

Read it all.

Posted in * Economics, Politics, America/U.S.A., Economy, Politics in General, President Donald Trump

(Telegraph) Ambrose Evans-Pritchard–Revealed: Trump’s confidential plan to put Ukraine in a stranglehold

Donald Trump’s demand for a $500bn (£400bn) “payback” from Ukraine goes far beyond US control over the country’s critical minerals. It covers everything from ports and infrastructure to oil and gas, and the larger resource base of the country.

The terms of the contract that landed at Volodymyr Zelensky’s office a week ago amount to the US economic colonisation of Ukraine, in legal perpetuity. It implies a burden of reparations that cannot possibly be achieved. The document has caused consternation and panic in Kyiv.

The Telegraph has obtained a draft of the pre-decisional contract, marked “Privileged & Confidential’ and dated Feb 7 2025. It states that the US and Ukraine should form a joint investment fund to ensure that “hostile parties to the conflict do not benefit from the reconstruction of Ukraine”.

Read it all.

Posted in America/U.S.A., Foreign Relations, Military / Armed Forces, President Donald Trump, Russia, Ukraine

(National Archives) George Washington’s Birthday

Washington’s Birthday was celebrated on February 22nd until well into the 20th Century. However, in 1968 Congress passed the Monday Holiday Law to “provide uniform annual observances of certain legal public holidays on Mondays.” By creating more 3-day weekends, Congress hoped to “bring substantial benefits to both the spiritual and economic life of the Nation.”

One of the provisions of this act changed the observance of Washington’s Birthday from February 22nd to the third Monday in February. Ironically, this guaranteed that the holiday would never be celebrated on Washington’s actual birthday, as the third Monday in February cannot fall any later than February 21.

Contrary to popular belief, neither Congress nor the President has ever stipulated that the name of the holiday observed as Washington’s Birthday be changed to “President’s Day.”

Read it all.

Posted in America/U.S.A., History, Office of the President

(WSJ) Trump’s Next Fight With Mexico: Designating Drug Cartels as Terrorists

Cartels are deeply entwined with the Mexican economy. Many of the tomatoes, bell peppers and cucumbers consumed in the U.S. are grown in the Mexican state of Sinaloa, where many farmers pay the cartel for water for their fields. Businesses such as mining companies and avocado growers are widely believed to pay extortion money to cartels.

“For better or for worse, this will likely force Mexican businesses and the Mexican government to confront pervasive cartel influence,” said Andrew Kaufman, an international lawyer who is counseling Mexican and multinational firms on the expected FTO designations.

Trump’s executive order took note of the cartels’ vast reach. The order gives the secretary of state—in consultation with other cabinet members—14 days to determine which Mexican cartels should be designated as FTOs. Then, key members of Congress have seven days to comment before the designation takes legal effect.

The order accuses the Mexican cartels of infiltrating governments and destabilizing countries across the Americas.

Read it all.

Posted in America/U.S.A., Drugs/Drug Addiction, Foreign Relations, Mexico, President Donald Trump

(Economist Leader) Around the world, an anti-red-tape revolution is taking hold

In his own inimitable style, President Donald Trump has identified something he dislikes and approached it with a wrecking-ball. Deprived of American funding by an executive order, aid programmes around the world are on the brink of collapse. But for the intervention of a judge at the 11th hour on January 28th, large parts of America’s federal government might have suffered a similar fate.

However, when it comes to another kind of cutting—of rules, rather than spending—Mr Trump is part of a global trend. From Buenos Aires and Delhi to Brussels and London, politicians have pledged to slash the red tape that entangles the economy. Javier Milei has wielded a chainsaw against Argentine regulations. Narendra Modi’s advisers are quietly confronting India’s triplicate-loving babus. Rachel Reeves, Britain’s chancellor, plans to overhaul planning rules and expand London’s Heathrow Airport. Even Vietnam’s Communists have a plan to shrink the bureaucracy.

Done right, the anti-red-tape revolution could usher in greater freedom, faster economic growth, lower prices and new technology. For years excessive rules have choked housebuilding, investment and innovation. But Mr Trump risks giving deregulation a bad name. His impulse to start by demolishing essential functions of government before reinstating the ones he likes is a formula for human misery and economic harm. The question is how to make reform bold enough to count, but coherent enough to succeed.

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Posted in Anthropology, Ethics / Moral Theology, House of Representatives, Law & Legal Issues, Office of the President, Politics in General, President Donald Trump, Senate, State Government

(Economist) Will Donald Trump unleash Wall Street? Bankers have plenty of reason to be hopeful

According to Jamie Dimon, chief executive of JPMorgan Chase and king of Wall Street, bankers were elated upon Donald Trump’s election victory. Many chafed under Joe Biden’s presidency, as mergers and bank fees faced additional scrutiny, and new capital-market rules came thick and fast. Now, with the inauguration of Mr Trump imminent, American financiers will discover just how much cause they have for celebration.

The industry will certainly experience an abrupt change in how it is overseen. America’s regulatory agencies will take a permissive approach in banking and beyond, with new priorities when enforcing securities laws. Crypto is about to go truly mainstream. And looser rules could enable the consolidation of America’s banking system, home to a vast number of small and mid-sized lenders. The only danger, from Wall Street’s perspective, is that the Trump team’s MAGA instincts and chaotic approach prevent a deregulatory boom.

Read it all.

Posted in Office of the President, President Donald Trump, Stock Market

Abraham Lincoln’s 1863 Thanksgiving Proclamation

Washington, D.C.
October 3, 1863

By the President of the United States of America.

A Proclamation

The year that is drawing towards its close, has been filled with the blessings of fruitful fields and healthful skies. To these bounties, which are so constantly enjoyed that we are prone to forget the source from which they come, others have been added, which are of so extraordinary a nature, that they cannot fail to penetrate and soften even the heart which is habitually insensible to the ever watchful providence of Almighty God. In the midst of a civil war of unequalled magnitude and severity, which has sometimes seemed to foreign States to invite and to provoke their aggression, peace has been preserved with all nations, order has been maintained, the laws have been respected and obeyed, and harmony has prevailed everywhere except in the theatre of military conflict; while that theatre has been greatly contracted by the advancing armies and navies of the Union. Needful diversions of wealth and of strength from the fields of peaceful industry to the national defence, have not arrested the plough, the shuttle, or the ship; the axe had enlarged the borders of our settlements, and the mines, as well of iron and coal as of the precious metals, have yielded even more abundantly than heretofore. Population has steadily increased, notwithstanding the waste that has been made in the camp, the siege and the battle-field; and the country, rejoicing in the consciousness of augmented strength and vigor, is permitted to expect continuance of years with large increase of freedom.
No human counsel hath devised nor hath any mortal hand worked out these great things. They are the gracious gifts of the Most High God, who, while dealing with us in anger for our sins, hath nevertheless remembered mercy. It has seemed to me fit and proper that they should be solemnly, reverently and gratefully acknowledged as with one heart and voice by the whole American People. I do therefore invite my fellow citizens in every part of the United States, and also those who are at sea and those who are sojourning in foreign lands, to set apart and observe the last Thursday of November next, as a day of Thanksgiving and Praise to our beneficent Father who dwelleth in the Heavens. And I recommend to them that while offering up the ascriptions justly due to Him for such singular deliverances and blessings, they do also, with humble penitence for our national perverseness and disobedience, commend to his tender care all those who have become widows, orphans, mourners or sufferers in the lamentable civil strife in which we are unavoidably engaged, and fervently implore the interposition of the Almighty Hand to heal the wounds of the nation and to restore it as soon as may be consistent with the Divine purposes to the full enjoyment of peace, harmony, tranquillity and Union.

In testimony whereof, I have hereunto set my hand and caused the Seal of the United States to be affixed.

Done at the City of Washington, this Third day of October, in the year of our Lord one thousand eight hundred and sixty-three, and of the Independence of the United States the Eighty-eighth.

By the President: Abraham Lincoln

William H. Seward,
Secretary of State

Posted in America/U.S.A., History, Office of the President

The 1789 Thanksgiving Proclamation

[New York, 3 October 1789]

By the President of the United States of America. a Proclamation.

Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor — and whereas both Houses of Congress have by their joint Committee requested me “to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.”

Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be — That we may then all unite in rendering unto him our sincere and humble thanks — for his kind care and protection of the People of this Country previous to their becoming a Nation — for the signal and manifold mercies, and the favorable interpositions of his Providence which we experienced in the course and conclusion of the late war — for the great degree of tranquillity, union, and plenty, which we have since enjoyed — for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted — for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.

And also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions — to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually — to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed — to protect and guide all Sovereigns and Nations (especially such as have shewn kindness onto us) and to bless them with good government, peace, and concord — To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and us — and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.

Given under my hand at the City of New-York the third day of October in the year of our Lord 1789.

Go: Washington

Posted in America/U.S.A., History, Office of the President

(WSJ) Scott Bessent Sees a Coming ‘Global Economic Reordering.’ He Wants to Be Part of It.

Scott Bessent spent the past 40 years studying economic history. Now, as Donald Trump’s choice to lead the Treasury Department, he has the chance to make his mark on it.

As a hedge-fund manager, first at George Soros’s firm and later at his own, Bessent specialized in macroinvesting, or analyzing geopolitical situations and economic data to wager on big-picture market moves. He generated billions of dollars in profits betting on and against currencies, interest rates, stocks and other asset classes around the world.

He was motivated to step out from behind his desk and get involved with Trump’s campaign in part because of a view that time is running out for the U.S. economy to grow its way out of excessive budget deficits and indebtedness.

Read it all.

Posted in * Economics, Politics, Economy, President Donald Trump

(WSJ) How one French Trader and Prediction Markets Beat the Pollsters in 2024

The 2024 election was a resounding victory not only for Donald J. Trump but also for prediction markets like the crypto-based Polymarket, which allow users to trade contracts that pay out based on the outcome of future events.

By the morning of the election, Polymarket showed $1.8 billion in trading volume on who would win the presidency (Trump at 62%) and an additional half billion on who would win the popular vote (Harris at 73%). The biggest bet on a Trump victory was placed by an enigmatic “whale” known only as Théo.

Trump’s victory was even more decisive than the prediction markets foresaw. Even on Polymarket, few shared Théo’s conviction that Trump would win the popular vote. But the prediction markets were still a lot closer than most opinion polls and political pundits, nearly all of which clustered around a neck-and-neck result.

The Wall Street Journal reported on Election Day that “Prediction Markets Point to Likely Trump Victory,” giving the former president a chance of success between 57% and 62%. But most polls showed the election as headed for a tie. Renowned election forecaster Nate Silver wrote on election morning: “We ran 80,000 simulations tonight. Harris won in 40,012,” thereby giving the sitting vice president a 50.015% chance of winning the election.

Nope.

Read it all.

Posted in America/U.S.A., Economy, France, Office of the President, Politics in General

(Defense One) What Trump’s win means for the federal workforce

Donald Trump is projected to return to the White House next January, according to the Associated Press, and is poised to spur the most dramatic reimagining of the staffing of government in more than a century.

That’s because Trump has vowed to revive Schedule F, a controversial abortive effort at the end of his first term to strip the civil service protections of potentially tens of thousands of career federal workers in “policy-related” positions, effectively making them at-will employees. Trump and many of his former staffers have frequently bemoaned that “rogue bureaucrats” inhibited his policymaking power during his first stint in the White House.

Though President Biden quickly rescinded Schedule F when he took office in 2021—before any positions could be converted out of the federal government’s competitive service—that hasn’t stopped Trump and his allies from working on the initiative in absentia. Both the Heritage Foundation and America First Policy Institute, which have organized dueling unofficial transition projects have endorsed reviving Schedule F, going so far as to creating lists of upwards of 50,000 current career civil servants to strip of their removal protections and threaten with termination.

Read it all.

Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Office of the President, President Donald Trump, The U.S. Government

(Vatican News) Archbishop Broglio: US Bishops pray for unity and all elected leaders

On the day after Americans went to the polls in presidential elections, Archbishop Timothy Broglio has expressed the US Bishops’ prayers for President-elect Donald Trump and all members elected to represent the American people at the national, state, or local levels.

In an interview with Vatican News, the President of the United States Conference of Catholic Bishops (USCCB) said the Catholic Church is “not aligned with any political party,” adding that the US Bishops’ look forward to working with elected representatives to promote the common good.

“As Christians and as Americans,” he said, “we have a duty to treat each other with charity, respect, and civility, even if we may disagree on how to carry out matters of public policy.”

Archbishop Broglio also noted that the US Bishops will seek to uphold the rights of all people, including the unborn…

Read it all.

Posted in America/U.S.A., Office of the President, Politics in General, Religion & Culture

(NYT) Early Results Show more than 90 percent of counties shifted to the Trump column

Mr. Trump appeared to improve his performance on election night among many types of counties, including ones that had supported him in past elections as well as ones that have historically leaned Democratic.

Read it all.

Posted in America/U.S.A., Office of the President, Politics in General

(NYT) Donald Trump Returns to Power, Ushering in New Era of Uncertainty

Donald J. Trump rode a promise to smash the American status quo to win the presidency for a second time, surviving a criminal conviction, indictments, an assassin’s bullet, accusations of authoritarianism and an unprecedented switch of his opponent to complete a remarkable return to power.

Mr. Trump’s victory caps the astonishing political comeback of a man who was charged with plotting to overturn the last election but who tapped into frustrations and fears about the economy and illegal immigration to defeat Vice President Kamala Harris.

His defiant plans to upend the country’s political system held appeal to tens of millions of voters who feared that the American dream was drifting further from reach and who turned to Mr. Trump as a battering ram against the ruling establishment and the expert class of elites.

In a deeply divided nation, voters embraced Mr. Trump’s pledge to seal the southern border by almost any means, to revive the economy with 19th-century-style tariffs that would restore American manufacturing and to lead a retreat from international entanglements and global conflict.

Read it all.

Posted in America/U.S.A., Office of the President, Politics in General

(CNBC) The East and Gulf coast ports strike could be a no-win situation for the Biden administration

President Joe Biden and his administration are sticking to their position of not invoking the Taft-Hartley Act to force International Longshoremen’s Association dock workers back on the job at East and Gulf coast ports where a strike is hitting day two on Wednesday, a political decision that reflects the power of unions one month out from an election but risks losing some progress on what is the No. 1 issue for many voters: the economy.

Rhetoric from Cabinet secretaries, including Transportation Secretary Pete Buttigieg and acting Labor Secretary Julie Su, has become sharper in recent days, pointing the finger at the ports ownership and ocean carriers. But right now, there is no sign of any progress bringing the ILA and port owners back to the table for a new round of negotiations, according to CNBC sources. And there remains a big risk on the other side of the political decision-making: wage increases that are a win for workers but ultimately ripple through the economy in the form of higher prices, both domestically and around the world.

Much of the focus about the economic impact of the ports strike to date has been focused on the direct hit to the economy from the massive trade shutdown, and the ways in which supply chain congestion and delays can result in higher prices being passed along to consumers, which will become a bigger factor the longer a strike persists. But maritime and business experts are also warning about the risk of persistent wage inflation making its way into supply chain prices that the Federal Reserve has recently been successful in taming.

Read it all.

Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, President Joe Biden

An interesting historical note on the horrible event of this past weekend

While there were unsuccessful assassination attempts, incidents or plots targeting George H.W. Bush, Bill Clinton, George W. Bush and Barack Obama during or after their terms, Mr. Trump was the first current or former president wounded in an act of violence since Ronald Reagan was shot in 1981 by a would-be assassin trying to impress a Hollywood actress (NYT).

Posted in Office of the President, President Donald Trump, Violence

George Washington’s First Inaugural Address

By the article establishing the executive department it is made the duty of the President “to recommend to your consideration such measures as he shall judge necessary and expedient.” The circumstances under which I now meet you will acquit me from entering into that subject further than to refer to the great constitutional charter under which you are assembled, and which, in defining your powers, designates the objects to which your attention is to be given. It will be more consistent with those circumstances, and far more congenial with the feelings which actuate me, to substitute, in place of a recommendation of particular measures, the tribute that is due to the talents, the rectitude, and the patriotism which adorn the characters selected to devise and adopt them. In these honorable qualifications I behold the surest pledges that as on one side no local prejudices or attachments, no separate views nor party animosities, will misdirect the comprehensive and equal eye which ought to watch over this great assemblage of communities and interests, so, on another, that the foundation of our national policy will be laid in the pure and immutable principles of private morality, and the preeminence of free government be exemplified by all the attributes which can win the affections of its citizens and command the respect of the world. I dwell on this prospect with every satisfaction which an ardent love for my country can inspire, since there is no truth more thoroughly established than that there exists in the economy and course of nature an indissoluble union between virtue and happiness; between duty and advantage; between the genuine maxims of an honest and magnanimous policy and the solid rewards of public prosperity and felicity; since we ought to be no less persuaded that the propitious smiles of Heaven can never be expected on a nation that disregards the eternal rules of order and right which Heaven itself has ordained; and since the preservation of the sacred fire of liberty and the destiny of the republican model of government are justly considered, perhaps, as deeply, as finally, staked on the experiment entrusted to the hands of the American people.

Read it all.

Posted in America/U.S.A., History, Office of the President

(Reuters) VP Harris top choice to replace Biden in election race if he steps aside, sources say

 Vice President Kamala Harris is the top alternative to replace U.S. President Joe Biden if he decides not to continue his reelection campaign, according to seven senior sources at the Biden campaign, the White House and the Democratic National Committee with knowledge of current discussions on the topic.

Biden’s fumbling, sometimes-incoherent and widely-panned first-debate performance against Republican rival Donald Trump last week set off a wave of panic within the Democratic party over concerns that he may not be fit enough to serve a second term, and prompted calls for top aides to resign.

Read it all.

Posted in America/U.S.A., Office of the President, Politics in General

A Day after an Unusual Presidential Debate to put it mildly

Posted in America/U.S.A., Office of the President, Politics in General

Remembering D-Day–General Dwight D. Eisenhower’s Speech

Soldiers, Sailors and Airmen of the Allied Expeditionary Forces:

You are about to embark upon the Great Crusade, toward which we have striven these many months. The eyes of the world are upon you. The hopes and prayers of liberty-loving people everywhere march with you. In company with our brave Allies and brothers-in-arms on other Fronts you will bring about the destruction of the German war machine, the elimination of Nazi tyranny over oppressed peoples of Europe, and security for ourselves in a free world.

Your task will not be an easy one. Your enemy is well trained, well equipped and battle-hardened. He will fight savagely.

Read it all (audio link also available).

Posted in America/U.S.A., France, History, Military / Armed Forces, Office of the President

Remembering D-Day–Franklin Delano Roosevelt’s D-Day Prayer on June 6, 1944

“My Fellow Americans:

“Last night, when I spoke with you about the fall of Rome, I knew at that moment that troops of the United States and our Allies were crossing the Channel in another and greater operation. It has come to pass with success thus far.

“And so, in this poignant hour, I ask you to join with me in prayer:

“Almighty God: Our sons, pride of our nation, this day have set upon a mighty endeavor, a struggle to preserve our Republic, our religion, and our civilization, and to set free a suffering humanity.

“Lead them straight and true; give strength to their arms, stoutness to their hearts, steadfastness in their faith.
“They will be sore tried, by night and by day, without rest — until the victory is won. The darkness will be rent by noise and flame. Men’s souls will be shaken with the violences of war.

“For these men are lately drawn from the ways of peace. They fight not for the lust of conquest. They fight to end conquest. They fight to liberate. They fight to let justice arise, and tolerance and goodwill among all Thy people. They yearn but for the end of battle, for their return to the haven of home.

“Some will never return. Embrace these, Father, and receive them, Thy heroic servants, into Thy kingdom.

“And for us at home — fathers, mothers, children, wives, sisters, and brothers of brave men overseas, whose thoughts and prayers are ever with them — help us, Almighty God, to rededicate ourselves in renewed faith in Thee in this hour of great sacrifice.

“Many people have urged that I call the nation into a single day of special prayer. But because the road is long and the desire is great, I ask that our people devote themselves in a continuance of prayer. As we rise to each new day, and again when each day is spent, let words of prayer be on our lips, invoking Thy help to our efforts.

“Give us strength, too — strength in our daily tasks, to redouble the contributions we make in the physical and the material support of our armed forces.

“And let our hearts be stout, to wait out the long travail, to bear sorrows that may come, to impart our courage unto our sons wheresoever they may be.

“And, O Lord, give us faith. Give us faith in Thee; faith in our sons; faith in each other; faith in our united crusade. Let not the keenness of our spirit ever be dulled. Let not the impacts of temporary events, of temporal matters of but fleeting moment — let not these deter us in our unconquerable purpose.

“With Thy blessing, we shall prevail over the unholy forces of our enemy. Help us to conquer the apostles of greed and racial arrogances. Lead us to the saving of our country, and with our sister nations into a world unity that will spell a sure peace — a peace invulnerable to the schemings of unworthy men. And a peace that will let all of men live in freedom, reaping the just rewards of their honest toil.

“Thy will be done, Almighty God.

“Amen.”

You can listen to the actual audio if you want here and today of all days is the day to do that. Also, there is more on background and another audio link there.–KSH.

Posted in America/U.S.A., Death / Burial / Funerals, France, History, Military / Armed Forces, Office of the President, Spirituality/Prayer

(Bloomberg) Fears of Violence, Disruption Ahead of Presidential Election

The November presidential election has filled many Americans with dread, and the prospect of violence, foreign interference and misinformation surrounding the contest is a big reason why.

The latest Bloomberg News/Morning Consult poll found that half of battleground-state voters are worried about violent clashes once the results are in. The shares of Republicans and Democrats who harbor worries about violence are roughly equal, and independents are even more concerned about the election devolving into harmful chaos.

Read it all.
Posted in America/U.S.A., Office of the President, Politics in General