Monitoring Biden and other Contemporary Events

Frank Apisa wrote:

Not sure if AXOS is publicly traded, but anyone who buys any stock in it should seek professional mental health help. Trump will screw them royally. (Unless they have a goon squad of Chechnyan debt collectors!)

Good grief! Do you know that Google (albeit a pretty terrible search engine) exists?

AXOS Bank parent corp = Axos Financial, a publicly traded corporation.

Interesting tidbit:

Quote:

In March 2022, Newsweek and Forbes reported that Axos made a $100 million mortgage loan to Donald Trump's company. The loan followed an announcement by Trump's former accounting firm stating that the Trump organization's financial statements should "no longer be relied on."[9][10]

Approximately 71.5% of the company's loans are secured by properties in California. 11.8% are secured by properties in New York, and 5.1% are secured by properties in Florida.[4]

The following article behind a paywall explains why the bank loans to Trump.

Quote:

Trump needed $225 million. A little-known bank came to ...

Washington Post
2 hours ago — Gregory Garrabrants, a GOP donor and CEO of online Axos Bank, approved the loans after the former president's main lender had cut ties.

More good news today for Bidenomics, as the gross domestic product report for the second quarter showed annualized growth of 2.4%, higher than projected, and inflation rose at a slower pace of 2.6%, down from last quarter and well below projections. Economic analyst Steven Rattner noted that as of the second quarter, “the US economy is over 6% larger than it was before COVID (after adjusting for inflation). At this point in the recovery from the Great Recession, 2011, the economy was just 0.7% larger than it had been in 2007.”

Both consumer spending and business investment, which is up 7.7% in real annualized terms, drove this growth. Business spending makes up a much smaller share of gross domestic product, but it drives future jobs and growth, and much of this growth is in manufacturing facilities. In keeping with that trend, the nation’s largest solar panel manufacturer, First Solar, announced today that it will build a fifth factory in the U.S. as alternative energy technology takes off. This commitment brings to more than $2.8 billion the amount First Solar has invested in the U.S. to ramp up production.

While so-called Bidenomics is designed to rebuild the middle class, the administration is also trying to reestablish fair ground rules for corporate behavior. Yesterday, the Departments of Justice, Commerce, and Treasury invited American businesses to come forward voluntarily if they think they might have violated U.S. sanctions, export controls, or other national security laws by sharing sensitive technology or helping sanctioned individuals launder money. Coming forward “can provide significant mitigation of civil or criminal liability,” the note says.

It highlighted the anti–money laundering and sanctions whistleblower program in the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN.

While many of us were watching the federal courthouse in Washington, D.C., to see if an indictment was forthcoming against former president Trump for his attempt to overturn the results of the 2020 election, a different set of charges appeared tonight. Special counsel Jack Smith brought additional charges against Trump in connection with his retention of classified documents.

The new indictment alleges that Trump plotted to delete video from security cameras near the storage room where he had stored boxes containing classified documents, and did so after the Department of Justice subpoenaed that footage. That effort to delete the video involved a third co-conspirator, Carlos De Oliveira, who has been added to the case.

De Oliveira is a former valet at the Trump Organization’s Mar-a-Lago property who became property manager there in January 2022. Allegedly, he told another Trump employee that “the boss” wanted the server deleted and that the conversation should stay between the two of them.

In the Washington Post, legal columnist Ruth Marcus wrote, “The alleged conduct—yes, even after all these years of watching Trump flagrantly flout norms—is nothing short of jaw-dropping: Trump allegedly conspired with others to destroy evidence.” If the allegations hold up, “the former president is a common criminal—and an uncommonly stupid one.”

This superseding indictment reiterates the material from the original indictment, and as I reread it, it still blows my mind that Trump allegedly compromised national security documents from the Central Intelligence Agency, the Department of Defense, the National Security Agency, the National Geospatial Intelligence Agency (surveillance imagery), the National Reconnaissance Office (surveillance and maps), the Department of Energy (nuclear weapons), and the Department of State and Bureau of Intelligence and Research (diplomatic intelligence).

It sounds like he was a one-man wrecking ball, aimed at our national security.

The Justice Department has asked again for a protective order to protect the classified information at the heart of this case. In their request, they explained that, among other things, Trump wanted to be able to discuss that classified information with his lawyers outside a Sensitive Compartmented Information Facility, or SCIF, a room protected against electronic surveillance and data leakage.

Former deputy assistant director of the FBI’s counterintelligence division Peter Strzok noted that there is “[n]o better demonstration of Trump’s abject lack of understanding of—and disregard for—classified info and national security. He is *asking the Court* to waive the requirements for classified info that EVERY OTHER SINGLE CLEARANCE HOLDER IN THE UNITED STATES must follow.”

The Senate today passed the $886 billion annual defense bill by a strong bipartisan margin of 86 to 11 after refusing to load it up with all the partisan measures Republican extremists added to the House bill. Now negotiators from the House and the Senate will try to hash out a compromise measure, but the bills are so far apart it is not clear they will be able to create a bipartisan compromise. The National Defense Authorization Act (NDAA) has passed on a bipartisan basis for more than 60 years.

The extremists in the House Republican conference continue to revolt against House speaker Kevin McCarthy’s (R-CA) deal with the administration to raise the debt ceiling. They insist the future cuts to which McCarthy agreed are not steep enough, and demand more. This has sparked fighting among House Republicans; Emine Yücel of Talking Points Memo suggests that McCarthy’s new willingness to consider impeaching President Biden might be an attempt to cut a deal with the extremists.

As the Senate is controlled by Democrats, the fight among the House Republicans threatens a much larger fight between the chambers because Democratic senators will not accept the demands of the extremist Republican representatives.

The House left for its August recess today without passing 11 of the 12 appropriations bills necessary to fund the government after September, setting up the conditions for a government shutdown this fall if they cannot pass the bills and negotiate with the Senate in the short time frame they’ve left. Far-right Republicans don’t much care, apparently. Representative Bob Good (R-VA) told reporters this week, “We should not fear a government shutdown… Most of what we do up here is bad anyway.”

Representative Katherine Clark (D-MA), the second ranking Democrat in the House, disagreed. “The Republican conference is saying they are sending us home for six weeks without funding the government? That we have one bill…out of 12 completed because extremists are holding your conference hostage, and that’s not the full story: the extremists are holding the American people hostage. We will have twelve days…when we return to fund the government, to live up to the job the American people sent us here to do. This is a reckless march to a MAGA shutdown, and for what? In pursuit of a national abortion ban? Is that what we are doing here?

“The American people see through this. They know who is fighting for them, fighting for solutions…. Your time is coming. The American people are watching. They are going to demand accountability. We should be staying here, completing these appropriations bills, stripping out the toxic, divisive, bigoted riders that have been put on these bills and get[ting] back to work for freedom and for our economy and the American family.”

listen up, stupids:
the January 6 insurrectionists all went to prison because they believed Donald Trump's lies.
the fake electors are all going to because they believed Donald Trump's lies.
the pool boy, the butler and the IT nerd are all going to prison because they believed Donald Trump's lies.
Donald Trump doesn't give a **** about these people and their ruined lives.
Donald Trump doesn't give a **** about you.
maybe it's time to stop believing Donald Trump's lies

I had intended to write about Bacon’s Rebellion today, since on this date in 1676, Nathaniel Bacon published the Declaration of the People of Virginia, outlining the rebels’ demands —and, let’s be honest, also because I am giddy with relief at finishing the final stages of the new book and eager to be doing actual history again—but President Joe Biden gave a surprisingly interesting talk in Freeport, Maine, yesterday that hit my in-box today just as I was sitting down to write about Bacon. (I wasn’t at the event—I was in Boston recording the audiobook.)

When he first spoke at the State Department on February 4, 2021, Biden tied foreign policy and domestic policy together, saying: “There’s no longer a bright line between foreign and domestic policy. Every action we take in our conduct abroad, we must take with American working families in mind. Advancing a foreign policy for the middle class demands urgent focus on our domestic…economic renewal.”

“If we invest in ourselves and our people,” he said back in 2021, “if we fight to ensure that American businesses are positioned to compete and win on the global stage, if the rules of international trade aren’t stacked against us, if our workers and intellectual property are protected, then there’s no country on Earth…that can match us.

“Investing in our diplomacy isn’t something we do just because it’s the right thing to do for the world. We do it in order to live in peace, security, and prosperity. We do it because it’s in our own naked self-interest. When we strengthen our alliances, we amplify our power as well as our ability to disrupt threats before they can reach our shores.”

Yesterday, in a campaign reception at a private home in Freeport, he gave what amounted to a more personal version of that speech, updated after the events of his first two and a half years in office. As he spoke informally to a small audience, he seemed to hit what he sees as the major themes of his presidency so far. The talk included an interesting twist.

Biden talked again about the world being at an inflection point, defining it as an abrupt turn off an established path that means you can never get back on the original path again. The world is changing, he said, and not because of leaders, but because of fundamental changes like global warming and artificial intelligence. “We’re seeing changes… across the world in fundamental ways. And so, we better get going on what we’re going to do about it, both in foreign policy and domestic policy.”

“Name me a part of the world that you think is going to look like it did 10 years ago 10 years from now,” he said.

But Biden went on to make the case that such fundamental change “presents enormous opportunities.”

He began by outlining the economic successes of his administration: more than 13.2 million new jobs—including 810,000 jobs in manufacturing—inflation coming down, and so on. He attributed that success to his administration’s embrace of the country’s older vision of investing in workers and the middle class rather than concentrating wealth at the top of the economy in hopes that the wealthy would invest efficiently. The administration focused on infrastructure and manufacturing, using measures like the CHIPS and Science Act and the Inflation Reduction Act to jump-start private investment in new industries in the U.S.

Then he turned to foreign affairs. “Does anybody think that the post-war eras still exist, the rules of the road from the end of World War Two?” he asked. The Atlantic Charter of August 1941 that defined a post–World War II order based that world on territorial integrity, national self-determination, economic growth, and alliances to protect those values. It was the basis for most of the postwar international institutions that have protected a rules-based order ever since.

But the world has changed, Biden said. In recognition of the new era, in June 2021, Biden and then–U.K. prime minister Boris Johnson signed a “New Atlantic Charter” to update the original. The new charter renews the U.S. commitment to the old one, then resolves “to defend the principles, values, and institutions of democracy and open societies,” and to “strengthen the institutions, laws, and norms that sustain international co-operation to adapt them to meet the new challenges of the 21st century, and guard against those that would undermine them.”

Yesterday, Biden noted that his administration has shored up alliances around the world, just as he called for at the State Department back in February 2021 and in the New Atlantic Charter of June 2021. It helped to pull Europe together to support Ukraine against Russia’s 2022 invasion, and the North Atlantic Treaty Organization (NATO) “is stronger today than it’s ever been in its existence.”

The Indo-Pacific world is changing, with new alliances coming together to hold firm on the idea of a rules-based international order. Biden has supported “the Quad”—India, Japan, Australia, and the United States—to stop China from changing that order, and other countries are taking note, shifting toward support for that order themselves. Did “anybody ever think Japan would increase its military budget over its domestic budget and help a European war on the side of the West?” Biden asked. “That’s what it’s doing. It’s changing the dynamic significantly.”

“The world is changing in a big way,” Biden said. “And we want to promote democracies…. [T]here is so much going on that we can make the world…a lot safer and better and more secure.”

“So…if you think about what’s happening, there is a confluence, if we get this right, of both domestic economic policy and foreign policy. [It] can make [us] safer and more secure than we’ve been [for] a long, long time.”

For all that his talk was a heartfelt recap of his presidency, he emphasized that the key to those successes has been democratic institutions. Referring to President Bill Clinton’s secretary of state Madeleine Albright’s reference to the United States as “the essential nation,” he attributed the leadership of the United States in world affairs not to its military might or economic power, but rather to its ability to create and defend alliances and, crucially, institutions that aspire to a rules-based world that works for, rather than against, ordinary people.

“Who could possibly bring the world together?” Biden asked. “Not me. But the President of the United States of America. Who could do it unless the President of the United States does it? Who? What nation could do it?” His vision was not the triumphalism of recent presidents; it reached back to the 1940s, to the postwar institutions that helped to rebuild Europe and create lasting alliances, and expanded that vision for the twenty-first century.

He recognized that U.S. policies have caused damage in the past, and that the country must fix things it has broken. “We’re the ones who polluted the world,” he said, for example. “We made a lot of money,” and now the bill has come due.

And while the nation’s postwar vision was centered on majority-white countries, he emphasized that the modern world must include everyone. “[T]here’s a whole lot at stake, he said, “And I think we have an opportunity. And one of the ways we make life better for us is make life better for the rest of the world. That’s why I pushed so hard for the Build Back Better initiative to build the infrastructure in Africa…and in Latin America and South America.”

Biden noted that the strength of the U.S. is in its diversity. “I said when I got elected I was going to have an administration that looked like America.” He noted that there are a higher percentage of women in his Cabinet than ever before—more than the number of men—and that he had appointed more Black appellate court judges to the federal courts “than every other president in America combined.” He did this for a simple reason, he said: “Our strength is our diversity. It’s about time we begin to use it.”

“[T]he whole world is changing,” Biden said, “But if we grab hold,” he continued, “[t]here’s nothing beyond our capacity.”

If I were writing a history of the Biden administration 150 years from now, I would call out this informal talk as an articulation of a vision of American leadership, based not in economic expansion, military might, or personalities, or even in policies, but in the strength of the institutions of democracy, preserved through global alliances.

So I guess I got to write about history today, after all.

It was the word that the far right of the Republican party most wanted to hear. Kevin McCarthy, speaker of the House of Representatives, said this week his colleagues’ investigations of Joe Biden are rising to the level of an “impeachment” inquiry.

Republicans in Congress admit that they do not yet have any direct evidence of wrongdoing by the US president. But, critics say, there is a simple explanation why they would float the ultimate sanction: they need to put Biden’s character on trial because their case against his policies is falling apart.

Heading into next year’s presidential election, Republicans have been readying a three-pronged attack: crime soaring in cities, chaos raging at the southern border and prices spiralling out of control everywhere. But each of these narratives is being disrupted by facts on the ground: crime is falling in most parts of the country, there is relative calm at the border and inflation is at a two-year low.

“Republican talking points are having a really bad summer,” said Simon Rosenberg, a Democratic strategist. “The core attacks against Biden are evaporating. The economy is strong. Inflation’s down. The deficit’s down. The Washington Post called the border ‘eerily quiet’. We’ve seen murder rates have come down dramatically this year. He’s been competently managing foreign policy.”

Inflation has been a millstone around Biden’s neck. Last year the prices of gas, food and most other goods and services surged by 9%, a 40-year high that took a toll on households. Some economists blamed Biden for pumping more money into the economy than it could handle with a $1.9tn coronavirus relief package. The president pointed to other causes such as global supply chain issues, the pandemic, stimulus from the Federal Reserve and the Russian war in Ukraine.

But now inflation is down to 3%, lower than in any other major economy, while unemployment has been below 4% for the longest stretch in half a century. Consumer sentiment is at its highest point in two years, according to a survey by the University of Michigan, while both Federal Reserve staff and the non-partisan Congressional Budget Office now predict that America will avoid a recession.

Crime, meanwhile, has been seen as a vulnerability for Democrats since the days of Republican Richard Nixon’s “law and order” campaign. Violent offences rose sharply in major cities during the coronavirus pandemic, loomed large during last year’s midterm elections and prompted a backlash against progressives pushing to “defund the police”.

But a study of crime trends in 37 cities by the Council on Criminal Justice found that the number of murders in the first half of 2023 fell by 9.4% compared with the first half of 2022 (a decrease of 202 homicides in those cities). Gun assaults, robberies, burglaries and aggravated assaults were also down.

This wonderful story is from the UK – but it's probably something imported from the good ol' USA:

Nowhere else does that.