This is the second day in a row that I feel compelled to respond to one of his bleats. This is becoming unhealthy.
Trump’s latest post continues to reflect his profound ignorance of monetary policy, trade, and the law. First, the strong August jobs report, combined with inflation that remains well above the Fed’s target, strengthens the case against cutting interest rates and may ultimately require rates to move higher. Elevated Treasury yields (30-year Treasury bonds are trading near their highest levels in almost two decades) provide an additional indication that markets remain concerned about inflation, fiscal conditions, and the future path of rates. Cutting prematurely risks adding further inflationary pressure.
Second, Trump is again treating bilateral trade deficits as evidence of economic weakness and somehow proposing to use trade restrictions as leverage against the Federal Reserve. The connection makes little economic sense. Trade deficits are not, by themselves, evidence that a country is losing economically, and restricting imports could itself raise prices and make the Fed even less inclined to cut rates.
Third, the Supreme Court has already held that IEEPA does not authorize the president to impose sweeping tariffs of the kind Trump previously attempted to impose.
Taken together, the argument in his post is economically and legally incoherent. But then I have come to expect little else from him.
These are not vanity projects. That’s being too nice. These are insanity projects. It’s insane that he’s building these gaudy monstrosities and it’s insane that this country’s GOP leaders don’t have the spine to stop him from defacing our nation’s capital. Stop the insanity!
Can I share something with you. As US Ambassador to Canada I met with many senior officers of the US Military and several told me if they were ever stuck in a foxhole under fire and they couldn’t have an American at their side they would undoubtedly want a Canadian at their side defending them. They said to my face there isn’t a better trained combat officer. They said this after serving with them in Afghanistan. Thank you Canada 🇨🇦
My neighbor Danny passed away after suffering a medical emergency on Friday at his cabin.
He’s the best next door neighbor I’ve ever had and we grew to have a tight friendship that went beyond snow shoveling and middle-aged men banter. My best friend in Bloomington.
A longtime Twins season ticket holder, he converted to a Blue Jays fan last October.
But most importantly he shared with me that his faith in the Lord was rekindled last spring so we began attending a men’s Bible study together and shared deep conversations during the rides home.
When he dropped me off in his driveway I’d say, I’ll text you when I get home in three steps so you don’t worry.
He is an organ donor so I was able to say a final “thank you” and “goodbye for now” and “now you can meet my mom that I told you so much about.”
His favorite saying every time I thanked him for his constant neighborly gestures, he’d reply, “Love thy neighbor.”
Amen.
Please continue pray for his wife.
❤️⚾️🙏🏼
The President of the United States is at war with you. He’s trying to disenfranchise you, he’s trying to take away your vote, he’s trying to steal the midterms. You need to accept this horrible truth, and you need to fight back/retaliate against him. So for starters, when voting this year:
1. Use drop boxes.
2. Vote early in person.
3. If voting by mail, put your ballot in the mail at least 2 wks before Election Day.
4. Share these instructions with everyone you know. He’s at war with us. We must be at war with him. And defeat him.
Personally, I love hearing Steve Bannon say it. I love hearing Mike Johnson say it. I especially love hearing Stephen Miller say it.
I love it when ANY of the sociopathic Trump acolytes and ideologs allege that if they lose the midterms, every one of them will be investigated and face accountability.
THAT is EXACTLY what the majority of America NEEDS to hear.
It certainly motivates the shit out of me.
My 9 year old was fine on Thursday - laughing, running, joking.
Then he wasn't.
He got sick on Friday - just another virus we thought.
Saturday he woke up talking complete gibberish to us - "get to the ER" we thought.
11 hours in the ER, and he was getting worse:
- Delirium
- Hallucinations
- Then seizures
Sunday - 30 electrodes strapped to his skull. Neuro surgery was consulted.
We came very close to intubating him and having a drain put into his skull.
Thankfully it didn't come to that.
Graham got viral encephalitis - an infection from a common virus that went to his brain and put pressure on his neurons.
He's turned a major corner, and its now day 12 of being in the hospital away from his brothers, friends and dog, Koda.
He is better, and will continue to get better, but slowly.
Thank you to everyone who has reached out to help and offer prayers.
Thank you for understanding my absence and quiet from your lives.
Here is a page I put up so anyone can follow along as he recovers: https://t.co/pdn4ciSAG7
Hug your kids, and of course, Light that fire!
Mike
If I were president and I wanted to tank the dollar and get rich off it, here is exactly what I would do.
I would hire a Treasury Secretary who already made $3.5 billion crashing another country's currency. I would put my guy in charge of the agency that approves bank charters. I would install a crypto czar with $200M in crypto holdings and give him an ethics waiver so nobody could challenge it.
Then I would sign an executive order banning the government from ever creating a digital dollar so there was no competition.
Then I would have my family launch their own private digital dollar. My family takes 75% of net profits. I would grow it to $4.6 billion in circulation and route a $2 billion Abu Dhabi sovereign fund deal through it to prove it works.
Then I would get Congress to pass a law requiring every stablecoin in the country to hold short-term Treasury bills. Now every dollar of my digital currency is a forced buyer of government debt. Brookings projects $2.3 trillion in captive demand by 2030.
Then I would have my OCC guy grant my family's company a federal bank charter. Now I can issue my digital dollar with federal authority.
Then I would have my Treasury Secretary weaken the actual dollar. Bond buybacks that suppress yields but tank the currency. Build a $950 billion war chest for more. Let the debt hit $40 trillion. Dollar index drops to 99. Gold goes to highest point ever.
Then I would kill the Corporate Transparency Act and delete the FinCEN beneficial ownership database. That was the one law that required every shell company in America to report who actually owns it. Without it, nobody can trace who is buying my stablecoin, who is routing money through it, or where the profits land.
Then I would let the loop run. Weaker dollar drives demand for "stable" digital alternatives. The law I passed forces those alternatives to buy T-bills. That funds the government's debt. My family takes profit on every transaction. Foreign central banks walking away from Treasuries get replaced by legally mandated stablecoin reserves my family controls.
Then I would use sanctions to start cutting countries off from the dollar system entirely. And when those countries need a new way to transact in dollars, the only federally chartered private digital dollar in existence is mine. They can buy it through shell companies nobody can trace because I deleted the ownership database.
I just built a toll booth on the global financial system. I take a cut every time someone uses the dollar. And I made it so nobody can see who is paying.
And every single step I just described has already happened.
So what does that mean for you and I?
The reason the United States can borrow at low rates and keep your mortgage and your car payment and your import prices stable is because foreign central banks hold trillions in dollar reserves. That system has always been public. The benefit went to everyone. Lower borrowing costs, cheaper goods , and the single biggest economic advantage any country has ever had.
What I just described is the privatization of that function. The entity buying the debt is no longer a central bank acting in the public interest. It is a private company taking 75% of net profits for one family. The reserve function used to generate a public benefit. Now it generates a private fee.
Your purchasing power shrinks every time the dollar weakens. Your 401k buys less in real terms. Everything you import costs more. And every time the dollar drops, demand for the private digital alternative goes up. The one the president's family owns. The one that by law must buy government debt.
You absorb the cost of a weakening dollar. His family collects the profit. That is the trade.
The enforcement mechanism to stop a sitting president from doing this? There isn't one. Former White House ethics lawyer Richard Painter says it would be a violation for literally any other federal employee, but not the president.
Nobody voted for this. No one was asked. There was no debate. There is no enforcement mechanism. There is no one investigating it. The Senate tried and it was blocked.
This is the largest conflict of interest in American history happening in broad daylight while everyone argues about something else.
So what do you do? Share this. Make it impossible to ignore. Send it to your representative, your senator, every journalist you follow. We make them answer for it.
Because the only thing protecting this scheme right now is the fact that not enough people understand it yet.
I am a dual citizen, both Canadian and American, having been born to Canadian parents who emigrated from Montréal to Buffalo shortly before I was born there in 1961. I love both countries, even if I am not insensible of the failings of each.
That said, this Administration’s unprovoked and serial attacks on Canada are indefensible, utterly contrary to the long-term interests of both countries, and contemptible in every sense of the word.
So far, I have spoken diplomatically, using euphemisms.
What is worse, and far beneath my well-deserved contempt, is the indifference and apathy of most Americans, whose President has not only run roughshod over his own Constitution and his country's historic alliances, but also attacked my other country, my beloved Canada, whose (conflicting) values and culture, however imperfect, are things in life that I cherish. There is no price for that, really.
Indifferent Americans might not mind that their fat buffoon in office is plundering and ruining the world for his own gain and childish vanity, but I do. I do very much, as a matter of fact.
I just want to give a huge shout-out to all the Americans who are as appalled as Canadians are by Trump’s attacks on Canada. 🇨🇦🇺🇸
We know Trump doesn’t represent all of you.
Thank you for standing with your neighbours, now we’re counting on you at the midterms: show up, vote, and hold his movement accountable. ❤️
🇨🇦 military -Korean War, Gulf War, Afganistan, Iraq/Syria.
IIWW - played often underestimated major role. Battle of the Atlantic, Air training for allies, European campaigns in Italy and NW Europe, D-Day, Netherlands. produced ships, aircraft, military vehicles, weapons and food.