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After her “largely debunked” comment, Tai went on to note that the “inflationary dynamics” linked to supply chain challenges were primarily related to Covid and also from Russia’s invasion of Ukraine.
Biden announced on Tuesday increased tariffs on $18 billion in Chinese imports, focusing on steel, aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products.
A senior administration official tells CNN that the White House believes the new tariffs introduced this week won’t raise prices because they apply to product groups that are symbolic, but represent only a small amount of US imports.
But the Biden administration is also leaving in place Trump’s sweeping tariff program affecting some $300 billion in Chinese imports, which JP Morgan economists in 2019 estimated would cost American households $1,000 each year.
In April 2022, near the height of inflation, a senior aide raised the question at an event hosted by the Bretton Woods Committee of why some tariffs remained in place that could hurt consumers.
David Kelly, chief global strategist at JPMorgan Asset Management, warned that not only do tariffs raise prices, they mess with supply chains and invite retaliation.
I will probably never agree on much with Duncan, but on this I completely agree. Trump is an aberration that must be extinguished from the collective psyche of this country and the world. And I sincerely hope that happens sooner than later. Far too many who apparently can’t think for themselves, clothe in and bask in their hatred, their fear, and their ignorance like it’s a badge of honor.
It’s time to stop listening to them and stop giving such insanity a platform.
Politics can be a cynical, nasty game, but it's important that everyone believes that the game's rules matter. For a football (soccer) analogy, Nixon was hoping to get away with an intentional handball or studs-up tackle, while Trump is Suarez biting people, or maybe a pitch invasion by angry ultras. None of them are within the rules and should not be tolerated, but some are not even identifiable as football and are way harder to manage than the others.
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This November, I am voting for a decent person I disagree with on policy over a criminal defendant without a moral compass,” Duncan, a CNN contributor, wrote in an opinion piece published in the Atlanta Journal-Constitution.
While Duncan admitted Biden’s age is a concern for many and his “progressive policies aren’t to conservatives’ liking,” he wrote he was left with no alternative as he argued a second Trump term would hinder the Republican Party from moving forward.
“The GOP will never rebuild until we move on from the Trump era, leaving conservative (but not angry) Republicans like me no choice but to pull the lever for Biden,” Duncan wrote.
Chris Sununu, calling it “disappointing to watch an increasing number of Republicans fall in line behind former president Donald Trump.” “This mentality is dead wrong,” he added.
Duncan also slammed Bill Barr, once an attorney general for the former president who has since emerged as one of Trump’s most prominent critics, for recently saying he would vote for the presumptive Republican nominee over Biden in November.
Barr’s declaration that the Justice Department uncovered no evidence of widespread voter fraud that could change the outcome of the 2020 election infuriated his boss and set off a chain of events that ended with Jan. 6,” Duncan wrote.
“If the delinquency rate of consumer loans starts rising, that is often a leading indicator for, ‘things are about to get worse,’” he said at a moderated panel hosted by the Society for Advancing Business Editing and Writing.
Economists say a strong economy, a solid job market and growth in household income has helped support consumers and makes a mass retrenchment in spending this year unlikely.
Lower-income Americans have been hit harder than their higher-income counterparts, turning to eating at home, searching for deals and dialing back their spending to ease the pain of persistent inflation and high rates.
“The lower-income consumer in the US is stretched, is strategizing a lot to make their budgets get to the end of the month,” said PepsiCo Chief Executive Ramon Laguarta in the company’s earnings call on Tuesday.
In a letter disclosed Wednesday, Devin Nunes, CEO of Truth Social owner Trump Media (DJT), alerted the GOP Chairmen of the House Ways and Means, Judiciary, Financial Services and Oversight Committees to the “urgent matter” of “potential manipulation” of the company’s share price.
A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever having to bail out a major bank, reports my colleague Hanna Ziady.
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Prosecutors have immunity. It’s next to impossible to win a lawsuit against one. We give immunity to too many people which prevents accountability and bad behavior.
Normally yes, however the State bar is penalizing the prosecutor for misconduct in this case. Immunity has been removed for similar in the past, almost surely will happen for this case as well.
An investigation by the Texas State Bar found this January that Ramirez had committed professional misconduct and fined him $1,250, as well as placing his license under probated suspension for one year, beginning Monday.
It’s not over yet until the sheriff actually seizes assets and has the door locks changed.
Every hour between now and the 25th ratchets up the defendant’s willingness to do something desperate. Foreign money, selling any national secrets he managed to hide from the feds, promises of cabinet picks, it’s all on the table and our safety is what’s for sale.
We had a similar ramp up of anticipation for the Carroll case’s 93 million judgement too. His lawyers were in court bald faced lying to the judge about not having a bond and needing time/reduced bond amounts right up until the last moment. Then they filed the bond in the last hour.
Can he do it again? I don’t know. None of us truly do. He’s a lying con man, so nothing he says matters. Four days is a long time in politics and finance.
My biggest concern on the political/media side of things is that he does have the bond already. All of this thrashing is performative to get the media whipped into a frenzy of anticipation and then he drops the bond at the last moment. This makes him look stronger and the media who frothed over his imminent demise look blundering. Don’t walk into that trap.
The moment the sheriff locks up his properties I’ll celebrate like crazy. Until it’s really done, anything can happen and I wish the the DA, the courts, the political leadership, and media agencies stay sharp while the clock ticks down. Don’t get hit at the finish line.
Not that similar. Not similar in circumstances and, certainly, not similar in the amount which is nearly 5x as much. Getting a $93m bond is much easier than getting a $467m bond.
And all his whining and crying in the media makes him look anything but strong.
Look, I don’t blame you for being cautious in your optimism, but, even if comes up with the bond somehow, he’s losing the appeal for sure and the people of the state of New York will get their payout. And that’s all the more reason for nobody to put up the money unless they get all his assets in return.
Trump always uses other people’s money for his own gain. He will suffer nothing, not until his ass is behind bars and hopefully becomes someone’s bitch.
Just a reminder that Vice was founded by Gavin McInnes, who also founded the Proud Boys and explicitly mentioned wanting to use Vice as a hipster-to-chud pipeline.
Sure! This is a very illuminating article about the zeitgeist in the early 00s, including an interview with McInnes with the quote where he notoriously said “I love being white.”
cnn.com
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