Wow, only 5-4 on the constitutional holding. Trump came within one vote of successfully revising the Fourteenth Amendment almost out of nowhere. Victory for birthright citizenship -- for sure. But almost a defeat. Raising the question of why we are playing this game.
Trumpism, from its inception in birtherism, has always been in its essence an attack on fundamental ideas of American citizenship; That's why he attended the oral arguments for this case. This is a major defeat for his whole project.
"In other words, the toll from USAID cuts by 2030 seems to be *at best* around two-thirds of a million people; that’s about as many people as were killed during the Civil War. At worst, Musk is tied to the deaths of millions."
https://t.co/Vdmf3OkGC8
I invite you to imagine what various commentators and industry actors would have said if president kamala harris had export controlled grok indefinitely and for no disclosed reason.
@ballsokab@Coach_Yac@49er_edits 2011 49ers defense was all-time. shame we didn’t win it that year, think that would have led to them being recognized as such
There are so many fantastic examples of American entrepreneurs being a force for good in the world. Mark Cuban's "Cost-Plus Drugs" company is saving people millions of dollars on prescription medications. A serious person like Cuban could have been brought in as a special consultant to help modernize the Federal government, and work with the GAO to find legitimate cost overruns, fraud, etc. Doing things the right way, working with agencies to reduce waste and increase efficiency. All of these things would be directly compatible with the Republican belief in small government, and cutting spending.
Instead, we got the "move fast, break things" Silicon Valley approach of Elon Musk, who ended up cutting aid to the poorest people on earth, while he's become a trillionaire in the process. And Republicans are proud of this! On what planet does this make sense? You're PROUD that poor people will die from preventable diseases?
Thoughts on the Fed
Warsh put his big boy pants on and delivered an appropriate message by a new Chair who steps into a half decade worth of inflation overshoot
I suspect he also has the blessing from the admin as they have come to realize one of their biggest electoral weaknesses is inflation and affordability
I am not at all convinced that he and the committee will follow through on the last mile if the choice remains the same as it's been, which is crash the markets to get from 3 -> 2
I do expect a hike or two, but we also have midterms coming which complicates matters
Overall market reactions are reasonable, not expecting a big equity drawdown, more of a minor reset, rates bear flattened, even a twist makes sense to me as right tail on the long end is truncated, precious down again (been front-running this hawkish shift along with STIR)
My best guess is Fed remains hawkish with more bark than bite in the next 6 months, but don't count out a nibble
Liberals say that the algae in the reflecting pool is symbolic of the rot at the heart of our democracy. They're wrong—it's symbolic of the rot at the heart of our republic.
"The UFC event captures something about this moment in our history.
After all, it’s vulgar, it’s violent, it’s commercial, it’s grandiose, it’s tacky, and it dishonors a place once thought worthy of care and respect. In other words, it’s Donald Trump."
https://t.co/4JB8V0GX4L
the most sophisticated election fraud operation in American history was carried about by Donald Trump in 2020 when he coordinated across multiple states to submit fraudulent Electoral College votes to Congress in an attempt to overturn or stall the certification of results