"Imagine being so ignorant that you bring global markets to a
full stop with an ill-advised set of tariffs. Then, imagine being so
thin-skinned that you announce you have prevailed during negotiations. No dude,
you didn’t win and China didn’t blink, but no amount of evidence will ever
convince you or the cult members." WaPo Comment
"Trump never did have a real plan, like always, shoot first. This corrupt administration has only one objective: enrichment of the Trump family. They’re doing a pretty good job of that".- WaPo Comment
That's what happens when he surrounds himself with kiss a ss yes people. I predict...if we last that long...that he will eventually be put in the category of the worst presidents we ever had. Self -enrichment is ALL he cares about. The rest is just to make sure it happens. It's still gonna take a while for a lot of the magats to uncork their heads out of their a - - and realize how badly they were played. If they ever do."- WaPo Comment
"What is happening in our country is being facilitated by millions of Trump supporters who may or may not realize the damage that they are doing. How to reach these people? It seems they all must personally suffer through something that brings awareness of the danger to all of us before they join the resistance to authoritarianism, which is just one step away from dictatorship. Maga, is that what you want for your children and grandchildren?" - NY Times Comment
Question #1: Why has Dotard Trump suddenly agreed to drop tariffs on Chinese goods by 125%? Answer: Because White House Chief of Staff Susie Wiles and Treasury Secretary Scott Bessent informed the orange moron that if he didn't "his voters" would suffer. E.g.
White House eased China tariffs after warnings of harm to ‘Trump’s people’ - The Washington Post
Of course, those with even a grain of financial-economic insight knew this all along. We knew in the end China had all the cards, the Trumpers did not.
Question #2: Why did the GOP House slimeballs choose to pass mammoth Medicaid cuts in the middle of the night?
Answer: Because they want to carve out at least $715b to subsidize tax cuts for the rich. Back to this later.
Re: Ans. #1, Douglas Irwin, an economist at Dartmouth College who specializes in economic history, quoted in the Washington Post, insisted that Dotard's constant reversals on tariffs reflected attempts to simultaneously transform U.S. trade while mitigating the negative consequences of such a transformation.
As an aside and to remind readers of the chaos: Donnie Dumpster Fire significantly changed tariffs on goods from China, Canada and Mexico at least a half-dozen times each. He has also reversed himself at least three times on auto tariffs, on steel and aluminum, and on agriculture and energy. Other sectors are left waiting to see how their production lines might be upended. Trump has also announced, but not implemented, tariffs on semiconductors, pharmaceuticals and a range of other critical imports.
But never mind the recent lowering of Chinese tariffs by 125%, the key bugbear – which will not save his MAGA working class cult- is the soon to come Medicaid cuts..
Anyway, Irwin asserted:
“The reason why the tariffs go up and come back down is businesses or markets are pressuring him to back off. The volatility is just reflecting the difficulty of achieving the objectives in a very short span of time.”
Nope, the volatility reflects that this “stable non-genius” bit off more than he could chew from the get go, and didn’t realize it until the bond markets bought his fat ass to heel. See e.g.
Opinion | The bond market just sent a big warning for Trump - The Washington Post
Excerpt:
“Investors started dumping U.S. government bonds. They sold and sold and sold. This is not normal. Typically, U.S. government bonds are a safe haven. Whenever stocks tank or there’s turmoil around the world, investors rush to buy plain vanilla bonds from the U.S. Treasury. It’s the equivalent of chicken soup for unhealthy markets. But suddenly, those bonds turned bitter. Ultimately, Trump caved to the bond markets. He didn’t want to follow the fate of British Prime Minister Liz Truss, who resigned in humiliation in 2022 after a similar bond market fiasco in reaction to her policies.
This unsleeping, unfeeling, unsentimental voting bloc forced Trump to change course on his tariff tornado. Other forces sagged into exhaustion in the face of Trump’s obsession, but the votes of the bond markets kept piling up, second by second, hour by hour, day by day. Forget about memes, sick burns and capital letters on Truth Social. "
Let's not forget the other side of the coin is uncertainty. No business can survive for long when policies governing the economy change every few days, and neither can consumers. Wherefore the uncertainty? It ain't rocket science, as they say. Since Dotard’s inauguration Jan. 20th he's announced new or revised tariff policies more than 50 times, according to a tally by The Washington Post. Trump himself has issued more than a dozen tariff-related, Stephen Miller- authored executive orders alone. That's about one per week.
More than a half-dozen of Bonespur’s tariff announcements, such as duties on dairy imports and Colombian trade, didn’t last more than a week before they were altered. Some didn’t last a day, this is why John Bolton - in a WSJ piece 2 weeks ago- referred to Trump's DNA being imbued with "chaos".
Here's another load of codswallop from White House spokesman Kush Desai , who babbled in a statement to The Post:
“The only special interest guiding President Trump’s decision-making is the best interest of the American people,”
Horse manure! The only special interest guiding Dotard’s decision -making is his own ego, and an inflated sense of his own economic abilities based on grifting, transactional foolishness and detachment from financial reality. (In failing to grasp China owns most of our debt in Treasurys. To wit, China’s $3.2 trillion in foreign currency reserves helped bolster its determination to resist what Chinese leader Xi Jinping had labeled “bullying” on the part of the U.S. Xi was spot on correct.
What about his MAGA working class voters he's belatedly trying to spare from more economic horrors? They still will not be spared hardship for their folly in voting this fungal felon back into power. Even after easing economic hostilities with China, Trump has still raised the average U.S. tariff rate from 2.5 percent to 18 percent — the highest level since the Smoot-Hawley tariff rate of the 1930s that most economists think exacerbated the Great Depression. Make no mistake this will bite the MAGAs in the butt when holidays and the new school year arrives.
And hey, let's not forget the coming pile up at the ports (like at Long Beach, CA) of container ships with tons of goods which will likely rot before being offloaded. That's because would be U.S. merchants, businesses already rejected collecting the inventory given they were going by the 145% tariffs Dotard originally imposed.
As Michael Strain, an economist at the American Enterprise Institute, a center-right think tank, said of Trump’s tariff policies:
"It’s been completely insane. When I step back from the euphoria over easing tariffs with China, what I see is the tariff rate is five times as high as when Trump took office. And we seem to have gotten nothing out of it at all.”
Then there is the new GOP tax cut bill for the rich passed in the middle of the night which will cut Medicaid access for millions of working class folk. See e.g.
by Alex Lawson | May 14, 2025 - 4:38am | permalink
The Mike Johnson -led GOOPs - eager to do Trump's bidding- have unveiled a plan to cut $715 billion from Medicaid over the next decade. But why pass it in the middle of the night? Probably because these rats and roaches want two key provisions hidden: (1) Prospective recipients will now have to work - as well as report their work - to get their care, and (2) They have now included a mandate that every beneficiary cough up a $35 co-pay per visit. As Bernie Sanders said last night, these factors will likely leave 13 million without health care - a good proportion of them working class folk.
To get support from the party’s centrist Reeps (like Mike Lawler in NY), the bill avoided slashing individual benefits — instead putting an emphasis on requiring recipients to work. It’s also popular idea in polls among the low information set: About 6 in 10 adults support work requirements, even as they strongly oppose cuts to Medicaid more broadly. These clueless low IQ minions are unaware that most Medicaid recipients already work, alas. But we know the GOP and Trump like to exploit the ignorance of the dummies.
At the core of the House bill are requirements — in this case, “community engagement requirements” — that able-bodied Medicaid recipients without dependents engage in at least 80 hours a month of work, education or service. Under the proposed rules, states would also be allowed to ask recipients to document their eligibility every six months instead of annually and to remove people’s benefits if they do not comply.
The reality is that such draconian requirements like these will move people off programs - not by requiring work but by requiring more reporting of work. Similar state-level policies (like in Arkansas) have already reduced the number of Medicaid recipients — but only by increasing the administrative burden on recipients, not by increasing the share who are employed.
So it's no wonder that when this malarkey was first trotted out MAGA Master Steve Bannon warned of dire consequences in triggering a backlash in Trump country.
Bannon is correct, and - assuming the Reptiles don't rig the midterms next year in favor of their favorite felon - most of us expect the Democrats to at least take back the House. Oh, and begin 3rd impeachment proceedings against this wannabe Hitler Jr.
See Also:
by Thom Hartmann | May 15, 2025 - 5:03am | permalink
Here we are again, my friend, watching the age-old story play out before our eyes. The Republicans are preparing to hand out trillions in tax cuts to their billionaire benefactors, and how do they plan to pay for this latest giveaway to the oligarchy? By ripping healthcare away from 13.7 million Americans, including millions of our most vulnerable seniors who depend on Medicaid for their very survival.
But this isn’t just about healthcare policy. This is about the fundamental question that’s defined America since the New Deal: Are we a society that believes in the common good, or are we returning to the brutal Social Darwinism of the Gilded Age?
Let’s remember how we got here. For most of our post-war history, America operated on a simple principle that both parties understood: we take care of each other. This wasn’t socialism or communism; it was basic human decency codified into law.
And:
Jeffrey Sachs's Big Remark On Donald Trump Breaks The Internet | US News | World News
And:
by Les Leopold | April 29, 2025 - 5:05am | permalink
I recently wrote about a somewhat mysterious group of financial traders known as the bond vigilantes. Their actions caused Donald Trump to abort many of his Liberation Day tariffs, but that does not make them the good-guy defenders of democracy. In fact, they are quite the opposite.
Many understood that point, thankfully, but others wondered about the government bond market, how it worked, and why the value of something fully backed by the faith of the U.S. government might be mutable in value.
Readers had questions and the answers will help us understand why Trump flinched when the bond vigilantes drove up the interest rates on government bonds. As we shall see, what seems like a small change in interest rates has a very big impact on the value of outstanding bonds, causing the loss of trillions of dollars in a flash.
And:
by Thom Hartmann | April 26, 2025 - 5:03am | permalink
The Trump administration just gutted Meals on Wheels. Seriously. Meals on Wheels!
Donald Trump didn’t just “disrupt” America; he detonated it. Like a political Chernobyl, he poisoned the very soil of our democratic republic, leaving behind a toxic cloud of cruelty, corruption, and chaos that will radiate through generations if we don’t contain it now.
He didn’t merely bring darkness; he cultivated it. He made it fashionable. He turned cruelty into currency and made ignorance a political virtue.
This man, a grotesque cocktail of malignant narcissism and petty vengeance, ripped the mask off American decency and showed the world our ugliest face. He caged children. Caged. Children. He laughed off their cries while his ghoulish acolytes used “Where are the children?” as a punchline for their next QAnon rally.
And:
by Thom Hartmann | April 30, 2025 - 5:06am | permalink
Wake up, America! While we’ve been distracted by the daily chaos of the Trump administration, something far more sinister has taken root in our country. It’s called Structural Eugenics (and a hat-tip to Qasim Rashid for putting this on my radar), and if you’re not furious about it yet, you damn well should be.
This isn’t some fringe conspiracy theory: it’s a coordinated assault on our most vulnerable citizens happening in broad daylight with deadly consequences.
Let’s be brutally honest here: the MAGA movement isn’t just pushing bad policy, they’re implementing a modern form of eugenics through selective attention and neglect.
Consider what the Trump administration is obsessively tracking: They’re monitoring autistic children, trying to build databases of women’s menstrual cycles, creating blacklists of anyone who criticizes Trump or questions Israeli policies, surveilling transgender Americans, and targeting anyone who dares mention diversity or inclusion.
And:
by Thom Hartmann | May 14, 2025 - 5:10am | permalink
Trump is an illegitimate president, but he’s not the first. The last Republican who was elected president without fraud or naked treason was Dwight D. Eisenhower. And it’s damn well past time that Democrats started telling the story.
But let’s start with Trump, and then go to Nixon, Reagan, and Bush.
Greg Palast recently did the math, and it’s now irrefutable: the only reason Trump is in the White House is because over 4 million Americans were either denied their right to vote or their votes were discarded.
The US Elections Assistance Commission data tells the damning story: a staggering 4.7 million voters were wrongfully purged from voter rolls before the election. By August 2024, self-proclaimed “vigilante” vote fraud hunters had challenged the eligibility of 317,886 voters across multiple states. When Election Day arrived, the Georgia NAACP estimated challenges had exceeded 200,000 in Georgia alone.