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Debt Rattle May 4 2025

May 042025
 
 May 4, 2025  Posted by at 10:15 am Finance Tagged with: , , , , , , , , , , , ,  39 Responses »


Edouard Vuillard The window 1894

 

• Elon Musk : DOGE, Support For Trump ‘Essential’ For America (NYP)
• Zelensky Threatens World Leaders Visiting Moscow On Victory Day: Kremlin (ZH)
• Moscow Responds To Zelensky’s Victory Day Threats (RT)
• Ukrainian Troops To Take Part In Victory Day Parade In London (RT)
• Farage’s Party Making Big Gains In Local British Elections (RT)
• What Does Russia Want? (Ben Shapiro)
• From The Mongols to NATO: Here’s The Real Russian Doctrine (Bordachev)
• US Approves F-16 Support Package For Ukraine (RT)
• Trump’s First Tariff Trade Deal With India Could Be Game-Changing (JTN)
• De Minimis Loophole for Beijing Ends, Temu Halts Direct Shipping (CTH)
• An Unavoidable Trade War with Canada is Looming (CTH)
• Want To Know The Truth Behind Those Anti-Trump Polls? (Margolis)
• Trump’s WWII Claim Is ‘Pompous Nonsense’ – Medvedev (RT)
• Freedom in the EU? Only if You Can Afford It (Roos)
• Green Energy Fixation Sends Spain Dark (Gonzalez)
• DOGE Cuts Behind Nearly Half of All Layoffs This Year (JTN)
• CIA to Cut 1,200 (5%) Jobs -Ratcliffe Shifts Focus to “Human Intelligence” (CTH)
• Buffett To Step Down As Berkshire CEO At Year-End (ZH)

 

 

 

 

Pope
https://twitter.com/bennyjohnson/status/1918683034401812862

https://twitter.com/SilverlochMedia/status/1918482139072602406

Did you see Mike Waltz’s ‘disguise’?

Tulsi

RT Editor-in-Chief

Orban

Romania has ‘elections’ today, without the leading candidate.
https://twitter.com/ricwe123/status/1918569944905633948

 

 

 

 

“That I was useful in the furtherance of civilization,.. “That I helped move civilization forward, added to the store of knowledge and capability — that I helped to understand the universe.”

• Elon Musk : DOGE, Support For Trump ‘Essential’ For America (NYP)

Tesla co-founder Elon Musk is beginning his exit from the Department of Government Efficiency (DOGE) as his time as a special government employee comes to a close. His tenure as the public face of DOGE has been marked by historic cuts and widespread outrage, but the tech titan does not regret his time with the Trump administration. Although once praised by the media and championed by the left, Musk’s decision to become a force in the public sphere has not been without backlash. From his purchase of Twitter, now X, to coming out in support of then-candidate Donald Trump, Musk’s year has been anything but “boring.” Fox News host Lara Trump asked Musk if he had any “regret” over his work at DOGE or his support of Trump, to which the SpaceX founder replied, “No.” “I think it was essential for President Trump to win to ensure that America remained great, and that we reach greater heights,” Musk said in an interview that aired Saturday on “My View with Lara Trump.”

In the run-up to the November 2024 election, Musk became a staunch supporter of Trump despite having been a former Obama donor, citing concerns over former President Joe Biden’s “most radical-left, crazy administration ever.” “Whoever controlled the auto pen and teleprompter during the Biden administration was the real president,” he said. Musk also told Lara Trump that he believed “if President Trump had not won, I think the Democrat campaign to import vast numbers of illegal voters would have succeeded,” adding that America would have risked becoming a “one-party state from which we could never escape.” “Some people out there may be somewhat skeptical. They may think, ‘Well, there isn’t some Democrat plan to subvert democracy and achieve a permanent one-party, deep blue socialist state.’ I assure you, the more you research it, the more that you will see it is true.”

With Trump winning in November, Musk was put to work on day one of the new administration, but his cost-cutting efforts have sparked nationwide opposition. “It’s not been boring, that’s for sure — an eventful year to say the least. At least I didn’t get shot, you know. Look on the bright side,” Musk said. “But we have had people shoot up Tesla stores and burn down Tesla cars. I wasn’t expecting that level of violence, really,” he continued. Musk even conceded the bad actors targeting him and his companies are “somewhat inevitable.” Part of the backlash has been a “relentless propaganda campaign” from opponents of the Trump administration, attempting to “destroy [his] public perception” and “doing character assassination,” he said.

Musk concluded the outrage shows DOGE’s work is “effective.” As President Donald Trump marked his 100th day in office on Tuesday, DOGE said it has cut at least $160 billion in waste, fraud and abuse in the federal government. With no plans of slowing down, DOGE has made a number of consequential and controversial cuts in recent months, including cuts to hundreds of millions in DEI contracts and efforts to slash federal spending by trimming the federal workforce. While DOGE made historic moves in the Trump administration’s first 100 days, Musk revealed what he most wants his legacy to be. “That I was useful in the furtherance of civilization,” he told Lara Trump. “That I helped move civilization forward, added to the store of knowledge and capability — that I helped to understand the universe.”

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• Zelensky Threatens World Leaders Visiting Moscow On Victory Day: Kremlin (ZH)

Ukraine’s President Zelensky has dismissed the Kremlin’s unilateral declaration of a three-day ceasefire for Russia’s World War II commemorations on May 9 as but a “game” and “theatrical performance”. “This is more of a theatrical performance on his part. Because in two or three days, it is impossible to develop a plan for the next steps to end the war,” Zelensky said, offering instead a fuller 30-day ceasefire. We reported earlier that Zelensky days ago went so far as to hint that a Ukrainian attack on Victory Day events could happen. Here’s what Zelensky warned several days ago: “Now they are worried that their parade is in question, and they are rightly worried. But they should be concerned that this war is still going on. They must end the war,” the Ukrainian president said.

Moscow officials certainly took this as a direct threat. Various world leaders, including President Xi Jinping of China, will be present for the V-Day parade through Red Square and other observances. This year’s will be particularly special given it’s the 80th anniversary since the end of WW2. Russian Foreign Ministry spokeswoman Maria Zakharova issued a statement Saturday saying that Zelensky “unambiguously threatened world leaders.” “After every terrorist attack on Russia’s territory, the Kiev regime, its security services, and Zelensky personally boast that this is their doing, that this will continue. Therefore, the phrase that he ‘does not guarantee security on May 9 in Russia’ as it is not his area of responsibility is, of course, a direct threat,” the diplomat stated. She and Peskov further blasted Zelensky’s stance as having exposed “the neo-Nazi nature of the Kiev regime, which has become a terrorist cell,” according to TASS.

Lately there’s been assassination bombings targeting top Russian generals, as well as long-range drone attacks which have reached the outskirts of Moscow. Clearly, Ukrainian intelligence and/or its allied Western intel services have made inroads into Russia. Without doubt, Russian defense and security services will bulk up anti-air systems in an around Moscow for Victory Day events. Defense officials, heads of state, and foreign ministers from various countries and especially Russia-friendly nations are expected to be present. Earlier in the Ukraine war, drones were sent across the Russian border and made it all the way to the Moscow Kremlin complex, lightly damaging the top of a dome, in what was a major first at the time. Since then, Moscow area airports have more frequently halted operations during inbound drone attacks.

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You’d almost hope they aim a device at Xi Jinping. Without hitting anyone, of course.

“Zelensky’s remarks “once again prove the neo-Nazi nature of the Kiev regime, which has turned into a terrorist cell..”

• Moscow Responds To Zelensky’s Victory Day Threats (RT)

Vladimir Zelensky’s refusal to join Russia in observing a 72-hour ceasefire to mark the Victory Day celebrations exposes Kiev’s “neo-Nazi essence” and amounts to a threat by an “international-level terrorist,” Russian Foreign Ministry spokeswoman Maria Zakharova said on Saturday. Earlier in the day, Ukrainian leader reiterated his refusal to accept Moscow’s proposal for a three-day ceasefire starting May 8 and continuing through the World War II Victory Day celebrations, dismissing it as a “theatrical production.” Zelensky also appeared to threaten the world leaders expected to take part in the May 9 events in Moscow, stating that Kiev cannot guarantee their safety. Zelensky’s remarks “once again prove the neo-Nazi nature of the Kiev regime, which has turned into a terrorist cell,” Zakharova said in a statement.

“Today [Zelensky] hit a new low: now he is threatening the physical safety of veterans who will come to parades and ceremonial events on that sacred day,” she said. “After every terrorist attack on Russian territory, the Kiev regime, its security services, and Zelensky personally boast that it was their doing and that it will continue to be like this. Therefore, the phrase that he ‘does not guarantee security on May 9 on Russian territory,’ since this is not his area of responsibility, is, of course, a direct threat,” Zakharova stressed. Kremlin spokesman Dmitry Peskov offered a similar take on Zelensky’s remarks, stating the proposed ceasefire is a “test” for Kiev, and the apparent refusal to join it “clearly shows that neo-Nazism is the ideological basis of the contemporary Kiev regime.”

The 72-hour ceasefire was announced unilaterally by Russian President Vladimir Putin on Monday. The president ordered the suspension of all military action against Ukraine’s forces from midnight on May 7 to midnight on May 10 and urged Kiev to join the truce. Zelensky and other top Ukrainian officials, however, dismissed the proposal as a “manipulation attempt,” demanding an immediate 30-day ceasefire instead. In March, Russia and Ukraine both agreed to a US-brokered 30-day partial ceasefire focused on halting strikes on energy infrastructure. Kiev, however, violated the truce on numerous occasions, according to the Russian military. The Victory Day truce follows a similar unilaterally announced pause during Easter weekend in April that ended up being only partially successful. While a certain lull in the hostilities was observed, Kiev violated the truce more than 3,900 times, according to estimates by the Russian Defense Ministry.

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Let’s hope they carry some Bandera flags, insignia. That country is lost

• Ukrainian Troops To Take Part In Victory Day Parade In London (RT)

Ukrainian troops will take part in the World War II Victory Day parade in London on May 8 at the invitation of the UK government, the British Ministry of Defense has announced. Moscow has condemned the move as “blasphemous” and “disrespectful” due to Kiev’s open glorification of Nazism. Victory in Europe Day (VE Day) is celebrated in the West on May 8 to commemorate Nazi Germany’s surrender in 1945. In a post on X on Saturday, the UK MOD said Ukrainian troops will take part in a military procession commemorating the event alongside 1,000 British servicemen. The ministry claimed that Kiev’s participation in the event “reminds us that Ukraine is now at freedom’s front line.” UK Defense Secretary John Healey described it as “fitting” that Ukrainian troops will be present at the event.

Moscow has condemned London’s decision. “Inviting followers of neo-Nazi elements to Victory Day celebrations is not just disrespectful to those British veterans who gave their lives during World War II. It is blasphemy,” Kremlin spokesman Dmitry Peskov said on Saturday. Commemorations of WWII-era nationalist figures linked to Nazi Germany have been common in Ukraine. Ukrainian nationalists hold annual torchlight marches in Kiev, Lviv, and other cities in honor of Stepan Bandera, the leader of the Organization of Ukrainian Nationalists (OUN), which collaborated with the Nazis and took part in the massacre of more than 100,000 Poles, Jews, Russians, and Soviet-aligned Ukrainians. Throughout the conflict with Russia, Ukrainian troops have on numerous occasions been filmed displaying Nazi symbols, including patches of SS units and swastikas. Italy’s Rai News 24 apologized last year after a journalist interviewed a Ukrainian fighter wearing a cap with the emblem of the ‘Leibstandarte Adolf Hitler’ SS division.

Germany previously expelled seven Ukrainian soldiers undergoing military training in the country because they were wearing Nazi symbols. Ukraine’s notorious Azov unit, a neo-Nazi formation established in 2014 and later integrated into the National Guard, has been accused of war crimes and was designated a terrorist organization by Russia in 2022. Although the original Azov Battalion was defeated in the 2022 Battle of Mariupol, co-founder Andrey Biletsky launched the 3rd Separate Assault Brigade under the Azov banner in 2023, which remains active. Russia has repeatedly warned of a Nazi revival in Ukraine and has accused Kiev of embracing neo-Nazi ideology while whitewashing WWII collaborators. President Vladimir Putin listed “denazification” among the goals of Russia’s military operation against the Kiev regime, along with demilitarization and neutrality.

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Farage will win bigly. It’s the same pattern all over Europe. Le Pen, AfD, Georgescu…

• Farage’s Party Making Big Gains In Local British Elections (RT)

The right-wing Reform UK party has won 677 out of more than 1,600 seats in England’s local elections, while the Labour and the Conservative parties suffered heavy defeats across the country. As results began to trickle in on Friday, the party led by firebrand and Brexit proponent Nigel Farage emerged as the strongest performer in contests held in 23 local authorities across England, winning control of ten councils. These included eight taken from the Conservatives – Derbyshire, Kent, Lancashire, Lincolnshire, North Northamptonshire, Nottinghamshire, Staffordshire and West Northamptonshire — along with Doncaster from Labour and Durham, where no party previously had a majority.

Reform also won hard-fought parliamentary by-elections in Runcorn and Helsby, snatching victory from Labour by just six votes after a recount. As a result, the party now controls five seats in the UK Parliament. According to a BBC projection, if a general election were held today, Reform UK would receive 30% of the vote, ahead of Labour at 20% and the Conservatives at 15%. However, the next general election is not due until May 2029. The last one was held last year and saw Labour secure a landslide victory, riding a wave of public dissatisfaction with the economic policies of the Tories. Commenting on his party’s strides, Farage remarked: “In post-war Britain, no one has ever beaten both Labour and the Tories in a local election before. These results are unprecedented… Reform can and will win the next general election.”

UK Prime Minister Keir Starmer said that while he felt a “sharp edge of fury,” he said he understood the voters’ choice while promising to “go further and faster in pursuit of… national renewal.” Meanwhile, Conservative Party leader Kemi Badenoch bluntly acknowledged that the elections were a predictable “bloodbath,” stressing that the Tories must continue work to rebuild trust in the party. Reform UK’s rise has been driven by voter frustration over high levels of immigration, the rising cost of living, and what many see as years of mismanagement by both major parties. The party campaigned heavily on promises to cut migration – including by small boat crossings – lower taxes, and reduce council spending, positioning itself as the only alternative to what it calls “a failed political establishment.”

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Ben Shapiro displays a stunning lack of knowledge about the war.

“..cost Ukrainians at least 50,000 dead and the Russians as many as 200,000 dead..”

If Shapiro is right about anything at all, then people like Doug Macgregor and Scott Ritter have been terribly wrong for 3 years running now. They swear there’s not 4x as many Russian casualties, but 7-8x as many Ukrainian. Off by a factor of 30.

• What Does Russia Want? (Ben Shapiro)

Russia’s war to conquer Ukraine has been raging since February 2022. At first, the Russian offensive seemed fated for success: Russian troops came within a few kilometers of Kyiv, and Western powers offered President Volodymyr Zelenskyy exit from the country. Zelenskyy refused; Ukrainian forces proceeded to hold off and reverse the Russian offensive. Within a few weeks, the battle lines solidified, with Russia continuing to hold much of the territory in the East and Crimea they had held since 2014. The only potential solution was the obvious solution: an armistice essentially freezing the lines of conflict and security guarantees to Ukraine sufficient to deter another Russian attack. But no solution could be found. Russia demonstrated little interest, after mid-2022, in any negotiated end to the war.

President Donald Trump came into office pledging to end the war—a war that has cost Ukrainians at least 50,000 dead and the Russians as many as 200,000 dead. To that end, he pressured Zelenskyy to come to the table. Zelenskyy eventually did, offering an unconditional 30-day ceasefire. Russian President Vladimir Putin has thus far refused any such ceasefire—presumably because he hopes that the Trump administration will pull its support from Ukraine, thereby leaving the country vulnerable to a final Russian offensive. And herein lies the problem for Trump. He knows—as everyone knows—that the only off-ramp for the war lies in a Korean War-style armistice. But Russia still refuses to come to the table, no matter the pleading and cajoling of special envoy Steve Witkoff, whose negotiating style seems to be warmly embracing various anti-American dictators, speaking kindly about them in public, and then hoping they will give him what he seeks.

In order to reach an end to the war, therefore, the Trump administration ought to fully consider just what Russia wants at this point. And the answer happens to be surprisingly simple: Russia wants either Ukraine conquered or a puppet government in place or a clear pathway to conquering Ukraine in the future. We know this because Russia repeatedly says it. Alexander Dugin, a philosopher and geopolitics expert known colloquially as “Putin’s brain,” spelled all of this out in his magnum opus, “Foundations of Geopolitics” (1997)—a book that was apparently used as a textbook at the General Staff Academy. For Dugin, the Russian spirit can only be animated by imperial dreams; regional power alone would be “tantamount to suicide for the Russian nation.” The antithesis of the Russian spirit is “‘the West’ as a whole.”

And Ukraine—an independent country that should be suffused with that “Russian spirit” but that wants to orient towards the West—represents a stinging rebuke to the Russian identity as a whole. Thus, Dugin argues, Ukraine must rejoin Russia or forever be condemned to a “puppet existence and geopolitical service” to the West. Ukraine’s continued existence as a sovereign state, Dugin argues, “is tantamount to a monstrous blow to Russia’s geopolitical security, tantamount to an invasion of its territory.” Now, during the war, Dugin writes, “We must win the war in Ukraine, liberate the entire territory of this former country from the Nazi regime. Regardless of Trump’s victory or anything else, this imperative remains unchanged. Just as the ancient Roman consul Cato the Elder used to say, ‘Carthage must be destroyed,’ in our case, ‘Kiev must be taken’”

So, if the true Russian goal is the destruction or subjugation of Ukraine, how could Russia be brought to the table? Only through the “peace through strength” policy Trump pursued during his first term. Only a Russia that believes that the West will refuse to surrender Ukraine will be pressured into an armistice. Trump seems ready to consider that possibility; he’s now acknowledging publicly that Putin seems to be slow-playing him. But the answer won’t be more sanctions. It will be a recognition that Ukraine’s sovereignty can only be guaranteed by force of arms—and that an off-ramp can only be achieved by a guarantee of that sovereignty.

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Wonderful history lesson by Timofey Bordachev. It all goes back to the 13th century, the Mongol hordes.

• From The Mongols to NATO: Here’s The Real Russian Doctrine (Bordachev)

“Only crows fly straight,” goes an old saying from the Vladimir-Suzdal region, where the revival of the Russian state began after the devastation of the Mongol invasion in the 13th century. Within 250 years, a powerful state emerged in Eastern Europe, its independence and decision-making unquestioned by others. From its earliest days, Russia’s foreign policy culture has been shaped by a single goal: to preserve the nation’s ability to determine its own future. The methods have varied, but a few constants remain: no fixed strategies, no binding ideologies, and an ability to surprise opponents. Unlike European or Asian powers, Russia never needed rigid doctrines; its vast, unpredictable geography – and its instinct for unorthodox solutions – made that unnecessary. Yet this distinctive foreign policy culture did not develop overnight.

Before the mid-13th century, Russia’s trajectory looked much like the rest of Eastern Europe’s. Fragmented and inward-looking, its city-states had little reason to unify. Geography and climate kept them largely self-contained. It could have ended up like other Slavic nations, eventually dominated by German or Turkish powers. But then came what Nikolay Gogol called a “wonderful event”: the 1237 Mongol invasion. Russia’s strongest state centers were obliterated. This catastrophe, paradoxically, gave rise to two defining features of Russian statehood: a reason to unify and a deep-seated pragmatism. For 250 years, Russians paid tribute to the Golden Horde but were never its slaves. The relationship with the Horde was a constant struggle – clashes alternating with tactical cooperation. It was during this period that the “sharp sword of Moscow” was forged: a state that functioned as a military organization, always blending conflict and diplomacy. War and peace merged seamlessly, without the moral dilemmas that often paralyze others.

These centuries also forged another trait of Russian thinking: the strength of the adversary is irrelevant to the legitimacy of its demands. Unlike the Western Hobbesian notion that might makes right, Russians have historically viewed force as just one factor – not the determinant of truth. A 16th-century song about a Crimean Khan’s raid sums it up: he is called both a “tsar” for his military power and a “dog” for lacking justice. Similarly, after the Cold War, Russia recognized Western power – but not the righteousness of its actions. Demographics have always been a challenge, driven by climate and geography. Russia’s population did not match that of France until the late 18th century, despite covering an area many times larger than Western Europe. And crucially, Russia has never relied on external allies. Its foreign policy rests on the understanding that no one else will solve its problems – a lesson learned through bitter experience. Yet Russia has always been a reliable ally to others.

A pivotal moment came in the mid-15th century, when Grand Duke Vasily Vasilyevich settled Kazan princes on Russia’s eastern borders. This marked the beginning of Russia’s multi-ethnic statehood, where loyalty – not religion – was the key requirement. Unlike Western Europe, where the church dictated social order, Russia’s statehood grew as a mosaic of ethnic and religious groups, all unified by a shared commitment to defense. This pragmatism – welcoming Christians, Muslims, and others alike – set Russia apart. Spain’s rulers completed the Reconquista by expelling or forcibly converting Jews and Muslims; Russia integrated its minorities, allowing them to serve and prosper without renouncing their identities.

Today, Russia’s foreign policy still draws on these deep traditions. Its core priority remains the same: defending sovereignty and retaining freedom of choice in a volatile world. And true to form, Russia resists doctrinaire strategies. Fixed doctrines require fixed ideologies – something historically alien to Russia. Russia also rejects the idea of “eternal enemies.” The Mongol Horde, once its deadliest foe, was absorbed within decades of its collapse. Its nobles merged with Russian aristocracy, its cities became Russian cities. No other country has fully absorbed such a formidable rival. Even Poland, a centuries-long adversary, was eventually diminished not by decisive battles but by sustained pressure. Victory for Russia has never been about glory – it’s about achieving objectives. Often, this means exhausting adversaries rather than crushing them outright. The Mongols were defeated in 1480 without a single major battle. Similarly, Poland was gradually reduced in stature over centuries of relentless pressure.

This mindset explains Russia’s readiness to negotiate at every stage: politics always outweighs military concerns. Foreign and domestic policy are inseparable, and every foreign venture is also a bid to strengthen internal cohesion, just as the medieval princes of Moscow used external threats to unite the Russian lands. Today’s geopolitical landscape is shifting again. The West – led by the United States – remains powerful, but no longer omnipotent. China is expanding its influence, though cautiously. Western Europe, historically Russia’s main threat, is losing its relevance, unable to define a vision for its own future. Russia, the US and China all possess that vision – and in the coming decades, their triangular relationship will shape global politics. India may join this elite circle in time, but for now, it still lags behind.

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Dumb but predictable: the US supports its weapons industry.

• US Approves F-16 Support Package For Ukraine (RT)

The US has approved a $310.5 million deal to sustain Ukrainian-operated F-16 fighter jets provided by Kiev’s European backers. The move comes after the US and Ukraine signed a deal in which Kiev grants Washington access to its natural resources in exchange for future assistance. The F-16 deliveries from European NATO members to Ukraine were approved by former US President Joe Biden in August 2023, but the first jets did not arrive in the country until a year later. While Ukrainian officials hailed the deliveries as a major coup, Western media warned that they would not be a “game changer” in the conflict. In March, the Ukrainian Air Force acknowledged that the F-16s operated by Kiev “cannot compete” with the latest Russian jets.

In a statement on Friday, the Pentagon’s Defense Security Cooperation Agency (DSCA) said the State Department had signed off on a foreign military sale to Ukraine which includes training, spare parts, aircraft modifications, logistics assistance, and software support for F-16s. The agency added that the proposed sale “will support the foreign policy goals… of the United States by improving the security of a partner country that is a force for political stability” in Europe. More than 80 F-16s have been promised to Ukraine, with the bulk expected to come from Belgium and the Netherlands, while the US has never committed to providing the jets on its own. While the exact number of jets delivered is unknown, Moscow confirmed last month it had shot down one F-16. Ukraine’s Vladimir Zelensky said the aircraft’s pilot perished during a “combat mission.”

In 2024, Ukraine reported the loss of another F-16, saying it crashed while repelling a Russian air strike. The DSCA announcement comes after the Pentagon said it is sending “disused and completely non-operational F-16s to Ukraine for parts.” It also follows the signing of a US-Ukraine resource deal that is intended to allow Washington to recover the cost of future military support through shared proceeds from Ukrainian mineral resource licenses. Moscow has condemned the Western arms shipments to Ukraine, warning they will only prolong the conflict without changing the outcome. Russian President Vladimir Putin has said Ukrainian-operated F-16s will “burn” just like other Western-supplied equipment.

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India would be big. “Apple announced on April 25 that it would be shifting production of most U.S.-bound iPhones to India from China..”

• Trump’s First Tariff Trade Deal With India Could Be Game-Changing (JTN)

Just a month into his tariff policy, President Donald Trump could unveil his first new trade deals with allies as early as this week as his negotiators press for handshakes and signatures that could further calm markets and empower a brighter future for American workers, officials tell Just the News. Commerce Secretary Howard Lutnick hinted at an approaching announcement last week when he revealed he has a trade deal with an unspecified country, pending approval of its conditions. Administration officials said as many as two or three deals could be unveiled in the coming days.Speculation has swirled surrounding India being the first to forge a partnership after Vice President J.D. Vance last week met with India Prime Minister Narendra Modi in Delhi to discuss a Bilateral Trade Agreement (BTA).

The vice president’s office put out a statement following their meeting, which stated, “The BTA presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries, with the goal of enhancing bilateral trade and supply-chain integration in a balanced and mutually beneficial manner.” Also last week, Treasury Secretary Scott Bessent indicated that many trade partners had reached out to the White House since the tariffs were unveiled and had made ‘very good’ proposals. “I would guess that India would be one of the first trade deals we would sign,” Bessent told CNBC, and that the U.S. also held productive negotiations with Japan and other Asian nations.

Former Deputy National Security Advisor Victoria Coates said an early deal with India could be a game-changer, since it is a partner with the market size of China that could apply pressure on Beijing. “I’d love to have them be first out of the box,” she said, noting Prime Minister Modi’s relationship with Vance has already yielded dividends. Coates said deals with the European Union will take longer, but there are some other big early possibilities. “I would look at Japan. I think that that would be key,” she said. “I think the conversation with the Europeans is going to be a longer one, but again that really has to happen. We might be surprised by the UK.” Mere signs of trade deals on the horizon have already calmed markets after an early free fall prompted by Trump’s “Liberation Day” tariff announcement on April 2.

The S&P 500 on Friday notched its longest streak of closing in the positive column in more than two decades, after it rose 1.47% at the close of business and marked its ninth consecutive day of gains. India has a few notable incentives to make it happen soon: India’s largest trading partner is the United States. The nation was hit with 26% reciprocal tariffs on April 2 before Trump suspended the larger tariffs on most countries for 90 days, but kept a universal 10% tariff in place. India is also placing a large emphasis on an agreement as part of its India-US Comprehensive Global Strategic Partnership, which Modi says “will be a defining partnership of the 21st Century for a better future of our people and the world.”

Adding sweetness to the deal: Apple announced on April 25 that it would be shifting production of most U.S.-bound iPhones to India from China, bringing billions in revenue and jobs to the populous, developing nation. India’s ambition to more than double trade between the U.S. and India, from the current $190 billion to $500 billion, was originally sent by Modi to Trump in February 2025. With headlines alluding to a Trump “misfire,” Democrats and legacy media have wasted no time prognosticating about why the trade deals are taking so long, and may never come. However, sources told Fox Business on Monday that the president is working on broader trade deals encompassing additional nations, not just nations involving tariffs. This, they report, is the reason there has been only speculation and no official announcements of trade deals.

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Where will Temu get its sales now?

“If you order a $20 shirt from China effective June 1st, you will pay $220. $20 for the shirt, and $200 minimum tariff. Yep, this is only the beginning.”

• De Minimis Loophole for Beijing Ends, Temu Halts Direct Shipping (CTH)

Think about it. We’ve already heard about the massive stoppages of April factory work in China, causing serious concern for Beijing and Chinese worker protests. American importers front loaded inventory in February and March with a 50% increase in orders. Now, in addition to those factories going quiet, the de minimis rule kicks in. (Via CNBC) – “Chinese bargain retailer Temu changed its business model in the U.S. as the Trump administration’s new rules on low-value shipments took effect Friday. In recent days, Temu has abruptly shifted its website and app to only display listings for products shipped from U.S.-based warehouses. Items shipped directly from China, which previously blanketed the site, are now labeled as out of stock. Temu made a name for itself in the U.S. as a destination for ultra-discounted items shipped direct from China, such as $5 sneakers and $1.50 garlic presses.

It’s been able to keep prices low because of the so-called de minimis rule, which has allowed items worth $800 or less to enter the country duty-free since 2016. The loophole expired Friday at 12:01 a.m. EDT as a result of an executive order signed by President Donald Trump in April.” The de minimis loophole comes from back in the 1930s. The idea back then was, say you went on a vacation to Paris, you shouldn’t have to file customs paperwork or pay taxes if you decided to ship some little Eiffel Tower statues to your friends back home. Congress in 2015 then raised the de minimis threshold from $200 to $800. However, the e-commerce world exploded, and Chinese companies began using the de minimis loophole to ship cheap goods (ex. Temu and Shein) into the USA direct to consumers without paying any customs duty.

On April 2nd, as part of the global trade reset and tariff structure, President Trump revoked authorization for Chinese goods to transfer to the USA using the de minimis rule. The de minimis exemption was cancelled for all products coming out of China. The rule change only targeted China and Chinese shippers. No one else. As part of the modification to Executive Order #14257, President Trump has increased the baseline tariff for product mailed from China [de minimis tariff] from 30 90 percent to 120%. Mailed products from China now face a 120% tariff. Additionally, minimum tariff amounts increased from $75 to $100 effective May 1st, and from $150 to $200 effective June 1st. Example: If you order a $20 shirt from China effective June 1st, you will pay $220. $20 for the shirt, and $200 minimum tariff. Yep, this is only the beginning.

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“When Trudeau outlines the inability of Canada to agree to trade terms, simply because his country no longer has the capability of adhering to those trade terms, a frustrated President Trump says, “then become a state.”

• An Unavoidable Trade War with Canada is Looming (CTH)

Following the 2024 presidential election, Prime Minister Justin Trudeau traveled to Mar-a-Lago and said if President Trump was to make the Canadian government face reciprocal tariffs, open the USMCA trade agreements to force reciprocity, and/or balance economic relations on non-tariff issues, then Canada would collapse upon itself economically and cease to exist. In essence, in addition to the NATO defense shortfall, Canada cannot survive as a free and independent north American nation, without receiving all the one-way benefits from the U.S. economy. To wit, President Trump then said, if Canada cannot survive in a balanced rules environment, including putting together their own military and defenses and meeting their NATO obligations, then Canada should become the 51st U.S state. It was following this meeting that President Trump started emphasizing this point and shocking everyone in the process.

However, in the emotional reaction to Trump’s statements, no-one looked at the core issues outlined by Trudeau that framed President Trump’s opinion. Representing Canada, Justin Trudeau was not expressing an unwillingness to comply with fairness and reciprocity in trade with the USA, what Trudeau was expressing was an inability to comply. Quite simply, after decades of shifting priorities, Canada no longer has the internal economic capability to comply with a fair-trade agreement (FTA). Trudeau was not lying, and President Trump understood the argument; hence his 51st state remarks.This is where it becomes important to understand the core reason why Trump, Ross and Lighthizer (2017) did not structurally want to replace the NAFTA agreement with another trilateral trade deal. Mexico and Canada are completely different as it pertains to trade with the USA. President Trump would rather have two separate bilateral agreements; one for Mexico and one for Canada.

• Firstly, Canada is a NATO partner, Mexico is not. As President Trump affirmed to Justin Trudeau during the meeting, it would be unfair of President Trump to discuss NATO funding with the European Union, while Canada is one of the worst offenders. Trump is leveraging favorable trade terms and tariff relief with the EU member states, as a carrot to get them into compliance with the 2.0 to 2.5% spending requirement for their military. If the NATO member states contribute more to their own defense, the U.S. can pull back spending and save Americans money. However, Canada is currently 26th in NATO funding, spending only 1.37% of their GDP on defense (link). Canada would have to spend at least another $15 billion/yr on their defense programs in order to reach 2.0%. Justin Trudeau told President Trump that was an impossible goal given the nature of the Canadian political system, and the current size of their economy ($2.25 trillion).

• Secondly, over the last 40 years Canada has deindustrialized their economy, Mexico has not. As the progressive political ideology of their politicians took control of Canada policy, the ‘climate change’ agenda and ‘green’ economy became their focus. The dirty industrialized systems were not compliant with the goals of the Canadian policy makers. The dirty mining sector (coal, coking coal, ore) no longer exists at scale to support self-sufficient manufacturing. The dirty oil refineries do not exist to refine the crude oil they extract. Large industrial heavy industry no longer exists at a scale needed to be self-sufficient. Instead, Canada purchases forged and rolled steel component parts from overseas (mostly China). Making the issue more challenging, Canada doesn’t even have enough people skilled to do the dirty jobs within the heavy manufacturing; they would need a national apprenticeship program. Again, all points raised by Trudeau to explain why bilateral trade compliance was impossible.

• Thirdly, the trade between Canada/U. S and Mexico/U. S is entirely different. The main imports from Canada are energy, lumber and raw materials. The main imports from Mexico are agriculture, cars and finished industrial goods. Mexico refines its own oil; Canada ships their oil to the USA for refining. There are obviously some similar products from Mexico and Canada, but for the most part there is a big difference.

• Forth, USA banks are allowed to operate in Mexico, but USA banks are not allowed to operate in Canada. USA media organizations are allowed to broadcast in Mexico, but USA media organizations are regulated and not permitted to broadcast in Canada. The Canadian government has strong regulations and restrictions on information and Intellectual Property. All of these points of difference highlight why a trilateral trade agreement like NAFTA and the USMCA just don’t work out for the USA. Additionally, if President Trump levies a tariff on Chinese imports, it hits Canada much harder than Mexico because Canada has deindustrialized and now imports from China to assemble into finished goods destined to the USA. In a very direct way Canada is a passthrough for Chinese products. Canada is now more of an assembly economy, not a dirty job manufacturing economy.

When Trudeau outlines the inability of Canada to agree to trade terms, simply because his country no longer has the capability of adhering to those trade terms, a frustrated President Trump says, “then become a state.” There is no option to remain taking advantage of the USA on this level, and things are only getting worse. Thus, the point of irreconcilable conflict is identified.

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If 80% of those you poll are Democrats, it’s easy going.

• Want To Know The Truth Behind Those Anti-Trump Polls? (Margolis)

You’ve no doubt heard the media narrative about President Trump’s poll numbers according to most pollsters—you know, the ones who got the 2024 election so wrong, Make no mistake about it — the legacy media is at it again with their dishonest polling tactics against President Trump. But this time, their deceptive game has been called out by none other than former House Speaker Newt Gingrich. Appearing on Hannity Thursday night, Gingrich exposed how the media’s recent polling showing Trump’s approval dropping is nothing but smoke and mirrors. The reality? These polls are deliberately skewed to paint a false narrative about Trump’s standing with the American people. Let’s look at the facts. The same media outlets that got it wrong in 2024—ABC News, CBS News, and CNN—are now pushing polls that show Trump’s approval is declining from his February high of 53%.

But are they really? “I got a little preview about poll numbers that are coming out tomorrow, and from both Robert Cahaly and Matt Towery, who I respect a lot,” Hannity said. “And as I suspected, all of the polls that the media has been pushing on the American people about Donald Trump are false, and that’s what the early indications are.” He pointed out the absurdity of the numbers being hyped by the media, especially when far-left figures such as Chuck Schumer were polling in the teens. “All the pollsters that got the election in ‘24 wrong and got every election about Donald Trump wrong—all of those people—the ones saying, ‘Oh, he’s plummeting.’ But meanwhile, they’re ignoring Chuck is at 17% and the Democrats are in the 20s. I’m trying to understand that logic. Can you help me out?” Gingrich didn’t mince words.

“Well, I mean, first of all, they’re just plain lying,” Gingrich replied. “And I think we’ve got to be tougher and clearer about how dishonest these people are.” He cited conversations with veteran GOP pollsters, pointing to the way poll samples are rigged to undercount Republicans. “The fact is, and I talked to John McLaughlin and I talked to Matt Towery about this, they have some polls there that are like 27% Republican when Trump got 50% of the vote. So if you add the 23 points they didn’t test, suddenly he’s in great shape. This is deliberate. It is willful.” Gingrich then laid out what he sees as the last bastions of anti-Trump resistance in the establishment. “Look, there are three great centers of resistance: the propaganda media, which will lie all the time, the fake district judges, and the fake Congressional Budget Office. Those are the last three great centers of resistance, and they’re going to do anything they can to defeat Trump and the Republicans, including lying about virtually everything.”

“None of them, to be honest with you,” Towery said when asked which poll concerned him the most. “I have a group of pollsters I look at who are public pollsters who’ve been right in all three of Trump’s cycles. We happen to be one of those. None of us have had him down by any of these numbers we’ve seen before. The only one that might concern me at all is the Fox News one because Fox did well in the 24 cycle.” Towery also took aim at the methodology behind the polls. “They are absolutely, I don’t like to criticize polling, but how can you have a poll, as John McLaughlin, a good friend of mine pointed out, how could you have a poll that shows Donald Trump at 39%? But yet when you ask people who they voted for and they said they voted for Trump, like 95% said they would vote for him again.”

Read more …

“The capitulation took effect after midnight in Moscow. May 8 is observed as Victory in Europe Day, with Russia commemorating the occasion on May 9.”

• Trump’s WWII Claim Is ‘Pompous Nonsense’ – Medvedev (RT)

Former Russian President Dmitry Medvedev has dismissed US President Donald Trump’s claim that America played the primary role in winning World War II as “pompous nonsense.”Medvedev made the comment on his VK page on Saturday, in response to Trump’s plan to designate May 8 as ‘American Victory Day’. “Trump recently announced that the US made the main contribution to the victory in World War II and that he would establish a holiday on May 8. A holiday is not bad. But the first conclusion is pompous nonsense,” Medvedev wrote. Earlier this week, Trump wrote on his Truth Social platform that he “will create a new holiday called AMERICAN VICTORY DAY, to be celebrated on May 8.” He went on to say: “This date marks the formal surrender of Nazi Germany to the Allied Forces in World War II, ending the war in Europe. AMERICAN VICTORY DAY will celebrate the heroes who helped vanquish tyranny and secure liberty for generations to come.”

Trump also said he wants to rename Veterans Day, a federal holiday celebrated on November 11, to “Victory Day for World War I,” adding that the US “won both wars.” In response, Medvedev, who currently serves as deputy chairman of Russia’s Security Council, highlighted the Soviet Union’s role in defeating Nazi Germany, stressing that the Red Army bore heavy losses and “liberated ungrateful Europe.” “Our people gave 27 million lives of their sons and daughters for the sake of destroying damned fascism,” he wrote. “Victory Day is ours and it is on May 9. That’s how it was, is, and always will be!” Earlier this week, Kremlin spokesman Dmitry Peskov said Russia is grateful to the US for its support during WWII, but the USSR would have defeated Nazi Germany even without the assistance. “The famous Lend-Lease indeed helped us. We received vehicles, airplanes, ammunition, and tanks. And indeed, without this, it would have been very difficult.”

The Lend-Lease program was a US government initiative that provided allies with military supplies, equipment, food, and strategic raw materials. The Soviet Union received aid valued at around $200 billion in today’s terms, Peskov said. He noted, however, that the assistance was not free. Russia, as the USSR’s successor state, completed its financial obligations related to the Lend-Lease program in 2006. Nazi Germany officially surrendered to the Allied forces on May 8, 1945, following the capture of Berlin by Soviet troops. The capitulation took effect after midnight in Moscow. May 8 is observed as Victory in Europe Day, with Russia commemorating the occasion on May 9.

Read more …

“Starting in 2027, the European Union will expand its emissions trading system (ETS) into new territory with the launch of ETS2..”

“Margaret Thatcher: “Global warming provides a marvelous excuse for global socialism.”

• Freedom in the EU? Only if You Can Afford It (Roos)

Starting in 2027, the European Union will expand its emissions trading system (ETS) into new territory with the launch of ETS2. While the original ETS primarily targeted heavy industry and power plants, ETS2 directly impacts ordinary citizens — their homes, their cars, their daily lives. Under the guise of ’saving the climate,’ the EU will steadily make gasoline, diesel, and gas for heating more expensive. But let’s be honest: ETS2 has very little to do with protecting the environment. It is about economic control, wealth redistribution, and the consolidation of power among banks, large corporations, governments, and the European Commission. Formally, everything remains ‘voluntary.’ You may continue driving a gasoline car. You may continue heating your home with natural gas. But every choice that deviates from the state’s ‘sustainability goals’ will become economically unbearable.

This is not a direct expropriation of property, but it is economic subjugation through price pressure, regulation, and redistribution of the proceeds. Instead of free choices, citizens and companies are financially forced to adopt government-approved behavior. Who benefits? Banks, investment funds, multinational corporations, government treasuries, and the European Commission. Financial giants like Goldman Sachs and Deutsche Bank are already making billions from trading CO2 certificates. Governments are raking in massive revenues from the auctioning of emission permits. Meanwhile, large corporations that receive free allowances or have surplus certificates can sell them for profit—all while greenwashing their public image.

And who bears the cost? Ordinary citizens, small businesses, the transport sector, and independent entrepreneurs. They will face hundreds of euros in additional costs every year just to heat their homes and drive to work. The most vulnerable are promised compensation through a ’Social Climate Fund’—a government handout that makes them ever more dependent on state aid. This brings us to the deeper question: What direction are we heading in? Is this communism, where the state owns the means of production? Or is it fascism, where the state controls production and merges with big business to dominate society? In truth, ETS2 signals a new hybrid system. Private ownership remains in name, but real control is exercised through regulations, price manipulation, and conditional subsidies.

The market is not abolished; it is repurposed around ideological objectives. Economic freedom exists only for those who can afford to comply. The Brussels technocratic pressure is sold as a ‘necessary transition,’ but in reality, it is dismantling the foundation of our economy, destroying the middle class, and eroding prosperity. Instead of fostering genuine innovation, ETS2 punishes those who lack the resources to “comply.” While banks and corporations speculate and profit, the hardworking EU citizen is soon faced with a grim choice: freeze in the winter or take on debt for a heat pump they neither asked for nor needed. The EU claims that prices will rise “gradually” and that safeguards are in place to prevent social unrest. But history teaches us that once new taxes and levies are introduced, they rarely disappear. Temporary exceptions inevitably become permanent rules.

After homes and cars, aviation, agriculture, and consumer goods will follow. Every sector deemed ‘unsustainable’ will face similar price manipulation. Personal freedom will continue to shrink, not through open political force, but through economic coercion masked as environmental stewardship. And for those still believing they will retain the freedom to choose: A choice that becomes financially impossible is no longer a real choice. It is coerced compliance. It is economic submission. Remember the words of Margaret Thatcher: “Global warming provides a marvelous excuse for global socialism.” Climate change must never be used as an excuse for economic servitude. Say no to green tyranny. Say yes to freedom, prosperity, and choice.

Read more …

Many will follow. It won’t be pretty. The systems are old but volatile.

• Green Energy Fixation Sends Spain Dark (Gonzalez)

VALENCIA, Spain—Two modern ills converged in Europe on Monday, literally one of the darkest days in decades. An ideological obsession with climate fanaticism left countries without power for hours, while censorship of “disinformation,” often information the powerful don’t like, plunged the population in an informational blackout in subsequent days. The electrical blackout brought planes, trains, and automobiles to a screeching halt throughout Spain, Portugal, and small parts of southern France. Electricity simply stopped flowing, and with it control towers, rail lines, and traffic lights. Cellphones became quadrangular black boxes that did nothing and lost their “smartness.” A political conference I was attending in this sunny Mediterranean port city suddenly became eerie when people started coming in and out and whispering to each other. One person in the seat in front finally turned and enlightened a friend and me: “The electricity is down. We’re cut off from the world.”

We then realized that, yes, sirens had been wailing outside, and it had been a while since we’d gotten emails or texts. A generator in the hotel kept our conference going, but nothing else worked; everyone had to take the stairs and use bathrooms in the dark—though water, too, stopped working. It wasn’t quite dystopic, but our modern dependence on electricity and its creature comforts suddenly was brought home to us. Many speculated that it was a cyberattack from Russia or China. Who else had the power to do this? Center-right politicians from across Europe were about to descend on Valencia the next day. Surely, an invitation for bad actors to do their thing. Well, not so fast. Neither Russia’s Vladimir Putin nor China’s Xi Jinping is above carrying out this type of attack, and cybersecurity is a serious matter. But, to quote Vice President JD Vance at a February conference in Munich, Germany, the threat to worry about the most in Europe “is not Russia, it’s not China, it’s not any other external actor.”

“What I worry about,” went on Vance, “is the threat from within, the retreat of Europe from some of its fundamental values.” Vance mentioned Europe’s need “to enjoy affordable energy,” and the fact that, as he put it, “free speech, I fear, is in retreat.” European officials are still fuming about how “rude” that young Vance was, but it looks like he was on the money. It is increasingly clear that what caused the blackout was not a cyberattack. Reuters News agency reported that Spain’s grid operator Red Electrica on Tuesday ruled out external sabotage, and said instead that it had identified two “incidents of power generation loss, probably from solar plants,” in southwestern Spain. That, said the Reuters report, “caused instability in the electric system and led to a breakdown of its connection with France. The electrical system collapsed, affecting both the Spanish and Portuguese systems.”

“There was not enough inertia, or redundancy, in the system to keep it going,” my colleague Diana Furchott-Roth emailed from Washington when I was able to receive communications from the outside world. “The last coal-fired plant was closed on April 12.” Diana has been warning about this type of thing for decades, and Spain’s socialist prime minister Pedro Sanchez is a poster boy for the things she has warned against. His government has not only closed coal-fired plants, but has been busily destroying nuclear plants as well. “Net zero,” or zero CO2 emissions, is the name of this new mad delusion, and Spain’s infantile leftists have been posting on social media gleeful workers destroying nuclear power plants. The goal has been 100% “renewable” generation.

Well, they happened to have gotten very close to their holy grail on Monday at 12:30. The Iberian Peninsula’s power grid was getting a disproportionate amount of energy from the renewables loved by the Left: 80% from solar photovoltaic, solar thermal and wind. Nuclear was at a measly 11%. In a mere five minutes, solar photovoltaic generation plunged by 50%, from 18 gigawatts to eight, according to Reuters. Iberia and adjacent parts of France, including the tiny Pyrenean principality of Andorra, all of which depended on this grid, then descended into darkness at 12:35, from which it was not to recover till late at night. The hapless Sanchez was still arguing late Tuesday that just because Red Electrica was discounting a cyberattack, it did not mean that one hadn’t happened. Governments finding themselves in a corner will lie, or at least equivocate, and it’s the job of the opposition to keep asking for answers.

“An energy policy that prioritizes the fight against climate change above the security of supply has provoked this general blackout,” said an analysis on the site of the think tank Disenso, which is linked to the opposition Vox Party (full disclosure, I sit on Disenso’s foreign advisory board). But it is also the job of the media. Yet Spain’s state television stations, and even private ones, were still keeping the truth about the failure of the Left’s renewable dream from getting any airtime as late as Wednesday morning, when I left for the airport. That was left to radio and to some newspapers on the right. An honest media would be not just informing voters about how a blackout that left at least five dead and stopped a modern economy in its tracks happened. It would also be debating whether such a modern society really does want to stop using comfort creatures and working toilets, all in the name of fighting climate change.

Read more …

Big Balls can take over. They have a strong team.

• DOGE Cuts Behind Nearly Half of All Layoffs This Year (JTN)

President Donald Trump’s Department of Government Efficiency is responsible for nearly half of all job cuts announced this year, according to a new report. The report from outplacement firm Challenger, Gray and Christmas said DOGE-related actions lead all job cut reasons in 2025 with 283,172, 2,919 of which occurred in April. Another 6,945 cuts were attributed to “DOGE Downstream Impact” through April, primarily at nonprofits and education organizations. These combined (290,117) make up 48% of all job cuts announced so far in 2025, according to the report. “Though the Government cuts are front and center, we saw job cuts across sectors last month,” Andrew Challenger, senior vice president and workplace expert for Challenger, Gray & Christmas. “Generally, companies are citing the economy and new technology. Employers are slow to hire and limiting hiring plans as they wait and see what will happen with trade, supply chain, and consumer spending.”

The vast majority of the DOGE-related cuts were from March, according to the report. After DOGE, market and economic conditions were cited for 95,348 job cuts, as economic uncertainty, consumer spending, and trade challenges hit U.S. companies, according to the report. Tariffs were cited for 1,413 cuts so far this year, with 1,350 occurring in April. Restructuring accounted for 67,627, and 60,551 were due to store, unit or location closing. When Trump created DOGE, he said it would be the government cost-cutting equivalent of the “Manhattan Project.” Both Trump and Tesla CEO Elon Musk promised Americans would get a more efficient government after DOGE addressed government waste, reduced regulations, and reduced the federal workforce. Many of the DOGE-led cuts in government face legal challenges from unions and other groups. Many of those same cuts remain in limbo as pending court cases continue.

The Challenger report comes as Musk steps back from government work to focus more on Tesla. Musk initially said DOGE would aim to cut $2 trillion from the federal budget, but he later cut that in half. At a Cabinet meeting in April, Musk said DOGE was on pace to cut $150 billion from the federal budget. The U.S. government employs about 2.4 million federal workers, excluding the military (about 1.3 million active-duty military personnel) and U.S. Postal Service (about 600,000 employees), according to 2024 Pew Research report. That report noted that the federal government employed 1.87% of the entire civilian workforce. That percentage includes postal employees, according to Bureau of Labor Statistics data.

Read more …

“Musk met with Ratcliffe in late March for a discussion that included government efficiency measures, but no DOGE teams have been working at the agency’s Langley, Virginia, campus.”

• CIA to Cut 1,200 (5%) Jobs -Ratcliffe Shifts Focus to “Human Intelligence” (CTH)

The Washington Post (but of course, CIA outlet) is reporting on a downsizing effort within the CIA to eliminate approximately 1,200 jobs. The number represents approximately 5% of the workforce although the actual number of CIA employees is classified (national security, dontchaknow). Within the report, Director John Ratcliffe is noted as shifting the focus of America’s leading spy agency to use more “human intelligence.” That phrase, “human intelligence,” is IC silo code speak for shifting away from “analysts” (political operatives) and engaging in more factual intelligence information. According to the report, DNI Tulsi Gabbard has also reduced the employment level within the Director of National Intelligence office by approximately 25% (current payroll estimate of 2,000 employees). The general narrative within the WaPo reporting is that “national security” is being compromised by large downsizing of spy agency employment. Additionally, to bolster the positions of the current political operatives within the CIA, the WaPo waxes concerningly about China and other mysterious foreign adversaries recruiting the CIA employees who are now becoming increasingly concerned about their paychecks.

WASHINGTON POST – “The Trump administration is planning significant personnel cuts at the Central Intelligence Agency and other major U.S. spy units, downsizing the government’s most sensitive national security agencies, according to people familiar with the plans. The administration recently informed lawmakers on Capitol Hill that it intends to reduce the CIA’s workforce by about 1,200 personnel over several years and cut thousands more from other parts of the U.S. intelligence community, including at the National Security Agency, a highly secretive service that specializes in cryptology and global electronic espionage, a person familiar with the matter said. The person, like others interviewed, spoke on the condition of anonymity to discuss sensitive matters.

[…] The staff reductions would take place over several years and would be accomplished in part through reduced hiring. No outright firings are envisioned. The goal of a roughly 1,200-person staff reduction includes several hundred individuals who already have opted for early retirement, the person familiar with the matter said. The downsizing is taking place separately from efforts by the U.S. DOGE Service, led by billionaire Elon Musk, to radically restructure the federal government. Musk met with Ratcliffe in late March for a discussion that included government efficiency measures, but no DOGE teams have been working at the agency’s Langley, Virginia, campus.

[Obviously, I can certainly appreciate the “human intelligence” shift noted by Director Ratcliffe for all the factual reasons that necessitate his concern. It is part of the reason why I ended up frustrated with “western reports” and determined the only way to really understand what is going on inside Russia during the sanctions was to travel there myself and review. It was quite an experience to sit in a renamed Starbucks coffee shop at the crowded Galleria Mall in downtown St Petersburg, Russia and read the Wall Street Journal reporting on the devastation to the Russian economy, while looking around at the packed stores and purchases being made on an ordinary weekday. Then to read the New York Times reports of shortages of steel in Russia, while driving past many miles of apartment and condominium construction. Everything cited in western corporate media, “according to sources familiar with the situation”, was/is the complete opposite of everything factually visible.]

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Did I see 44,000%?!

• Buffett To Step Down As Berkshire CEO At Year-End (ZH)

It’s the end of an era at America’s largest hedge fund/private equity/insurance float-cum-rollup conglomerate, whatever you want to call it: Warren Buffett just announced during the Berkshire annual pilgrimage to Omaha that he is stepping down as CEO of Berkshire at the end of the year, and that Greg Abel, the vice chairman for non-insurance operations who has been groomed over the past decade for just this moment, will take over the conglomerate. The news was greeted with a standing ovation by the thousands of Berkshire shareholders who were present at Omaha’s Convention Center.

Buffett – whose track record cemented him, along his long-time sidesick Charlie Munger, into a celebrity billionaire renowned for his investing acumen and witticisms – built Berkshire Hathaway into a business valued at more than $1.16 trillion, generating compounded annual returns to shareholders at double the rate of the S&P (19.9% vs 10.4%), since 1965, and a staggering 5,502,482% overall gain on BRK stocks since 1964, vs “only” 39,054% for the S&P. His investing success gave him the power to move stocks and helped him strike lucrative deals with Goldman Sachs and General Electric during times of crisis. The announcement stunned the board and even Abel, who, while long signaled as Buffett’s successor, was unaware that the news was coming as the annual meeting drew to a close. “That’s the news hook for the day,” Buffett said. “Thanks for coming.”

Berkshire grew aggressively over the decades with Buffett as chairman and CEO, as he chose acquisitions and stocks for the company portfolio alongside trusted adviser and vice chairman, Charlie Munger, who died in 2023 at 99. As Bloomberg notes, “the conglomerate acquired a bewildering assortment of businesses, which Buffett often said mirrored the US economy as a whole. A bet on Berkshire, he said, was a bet on America.” Buffett started managing money when he was young, a disciple of Benjamin Graham’s investing style. He moved more into the corporate world when his Buffett Partnership Ltd. bought shares of Berkshire. In 1965, he took control of the rest of the business.

Composed mostly of struggling textile operations that would eventually fade away, Berkshire became the foundation for Buffett’s modern-day giant. Piece by piece, he built and acquired operations into a varied set of industries, including insurance — which gave him cash, or “float” — to help his investing strategy. Now, Berkshire owns businesses ranging from railroad BNSF to auto insurer Geico, sprawling energy operations, and even retailers such as Dairy Queen and See’s Candies. Its collection of companies generated $47.4 billion of annual operating earnings in 2024. Buffett also built up the stock portfolio — populating it with giant bets on the likes of Apple Inc. and American Express — and offering Berkshire another way to participate in the gains of businesses that it didn’t fully own.

Read more …

 

 

 

 

FSD

AI

Fauci

Ocean
https://twitter.com/dom_lucre/status/1918406723351802248

Moose

Birds

Cows
https://twitter.com/InternetH0F/status/1918410455258718428

Kookaburra

lion pair

 

 

 

 

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Debt Rattle April 4 2025

Apr 042025
 
 April 4, 2025  Posted by at 9:14 am Finance Tagged with: , , , , , , , , , , , ,  57 Responses »


Pablo Picasso Portrait of woman in wheelchair 1936

 

• This Is Good. Very, Very Good. (CTH)
• Beijing Slams Trump’s “Unilateral Bullying” Tariffs, Signals Retaliation (ZH)
• President Trump Ends Duty-Free De Minimis Treatment for All Chinese Goods (CTH)
• World Leaders React To Trump’s Tariff Onslaught (RT)
• Here’s Why Trump Will Win the Tariff Standoff (Margolis)
• Kevin O’Leary Slams Canada’s ‘Sheer Stupidity’ in Trade Standoff With Trump (Margolis)
• How Could Trump Tackle Trap Set Up by Europe? (Sp.)
• Trump Teases Bombshell DOGE Finding: ‘What They Found Is Incredible’ (ZH)
• Trump Tariffs Breach NATO Rules – Norway (RT)
• Putin, Zelensky Ready To Make A Deal – Trump (RT)
• Putin Envoy Visits Washington (RT)
• Third Parties Attempting To Derail US-Russia Talks – Putin Envoy (RT)
• House Panels Press Probe of ActBlue Campaign Fundraising Operations (Adams)
• Dr. Oz Will Save Medicare, Strengthen Medicaid, Secure a Healthier America (DS)
• War With Iran ‘Almost Inevitable’ – France (RT)
• Hungary to Abandon ICC Over Concerns of Political Bias – Orban (Sp.)

 

 

 

 

WH tariffs

Batya Ungar-Sargon
https://twitter.com/DC_Draino/status/1907606593509769654

Lutnick

https://twitter.com/TONYxTWO/status/1907779787730378838

BeckBoasberg

KUHN

Vance

Bernie
https://twitter.com/mazemoore/status/1907883583228051964

Beck

 

 

 

 

What Marine Le Pen and Trump’s tariffs have in common is they are both anti-globalist. The world is changing and everyone will have to adapt.

Here is “sundance” the lawyer:

• This Is Good. Very, Very Good. (CTH)

If it was weak, I would tell you it was weak. If it was a construct that contained dangerous consequences, I would warn you of them. If this trade/tariff regime was going to be harmful to the economy I would say so. This global trade reset (as outlined) doesn’t create doom – not even close, it creates discipline. What we’re seeing isn’t a reckless trade war. It’s a strategic recalibration targeting the structural imbalances that hollowed out American industry. The tariffs are reciprocal, calculated based on actual trade deficits. That’s not random or punitive—it’s mathematically fair. And they’re targeted: this isn’t a broad tax on everything. The focus is on finished goods, not the raw materials and components we need to build here. That protects domestic production and supply chains—not disrupts them.

Some worry this will destabilize capital markets. But this plan doesn’t touch interest rates, credit channels, or core financial plumbing. It doesn’t burden U.S. manufacturers or trigger input price spirals. Quite the opposite—it creates revenue and predictability; two things capital markets thrive on. It also closes loopholes like de minimis, reins in corporate arbitrage, and forces trading partners to play fair. If that creates discomfort for companies built on outsourcing and imbalance, that’s not doom. That’s a long-overdue correction. This isn’t the collapse of global trade. It’s the end of surrender and the beginning of mutual accountability.

This is good. Very, Very good.

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China had it good for a few decades. So of course they’re not rejoicing today.

“The era of Asia’s export manufacturing-led development has come to an end, and the region will need to develop markets closer to home.”

• Beijing Slams Trump’s “Unilateral Bullying” Tariffs, Signals Retaliation (ZH)

President Trump’s late afternoon announcement on Wednesday—”Liberation Day”—unveiled a far more aggressive tariff policy than top Wall Street analysts had anticipated, prompting panic dumping in global equities and futures markets overnight. Of particular concern is Trump’s stance toward China. The total effective tariff rate on Chinese imports surged to 54%, a dramatic increase of 34% from the previously imposed 20% in additional levies tied to fentanyl and earlier duties. Trump’s Liberation Day has drawn swift condemnation from Beijing, which has described the escalating tariff war as “unilateral bullying.” Nikkei Asia quoted China’s Ministry of Commerce, warning that it “firmly opposes” Trump’s tariffs and “will resolutely take countermeasures to safeguard its own rights and interests.”

The Commerce Ministry noted that the US “ignored” the benefits of a global trading system, adding, “The so-called ‘reciprocal tariffs,’ which are based on subjective and unilateral assessments by the United States, are not in line with the rules of international trade, seriously jeopardize the legitimate rights and interests of the parties concerned, and are typical of unilateral bullying.” The ministry did not discuss specifics on the countermeasures. A ministry spokesperson told reporters that Beijing hopes to “resolve various issues through equal consultation.” In other words, it’s just a matter of time before Beijing mounts a countermeasure against the US, whether that’s targeted tariffs, export controls, or other measures (such as targeting US Big Tech). Or as we’ve recently seen: Beijing Derailing Panama Port Deal.

Guo Jiakun, a spokesperson for China’s Ministry of Foreign Affairs, sang the same tune: China “firmly opposes” Trump’s trade war escalation, which “seriously undermines” the rules-based global trading system. He urged Washington to resolve trade differences through talks. However, President Trump tried that with the Chinese Communist Party in his first term with the so-called “Phase One” agreement. Beijing committed to purchasing $200 billion of additional US exports. Yet, the phase one deal with the CCP was derailed by Covid disruptions. The Trump administration’s goal with reciprocal tariffs against literally the entire world, including some cases of near triple-digit reciprocal tariffs that will lead to a historic emerging markets shock, is to reverse a half-century or more of de-industrialization policies in the US that have hollowed out the nation’s core and produced a national security threat as the world fractures into a bipolar state.

In financial markets, the People’s Bank of China set the daily reference rate for the yuan at 7.1889 per dollar, weakening the currency. This allows the yuan to depreciate and support export competitiveness. A move like this will only draw accusations of currency manipulation from Trump. “We maintain our view that the PBOC will not allow a sharp [yuan] depreciation given capital outflow risks and the government’s objective to restore confidence in the Chinese economy,” HK Mizuho Securities analyst Ken Cheung wrote in a note earlier. Goldman analysts Andrew Tilton and others told clients:

“On April 2, President Trump announced “reciprocal” tariffs on trading partners with exclusion of products that are subject to sectoral tariffs, resulting in what we estimate to be an increase of 26pp in the average effective US tariff rate on China, which would bring the total effective tariff rate on Chinese goods to 58%. This is much higher than we and the market had expected. Similar to the experience when the previous two 10% tariff increases were imposed on China earlier this year, we think the Chinese government is likely to retaliate with some targeted tariffs on US products as well as non-tariff measures like export controls.

We expect policymakers to continue to resist significant CNY depreciation. We believe the government will step up easing measures to offset the additional growth drag from higher tariffs. We are not changing our 2025 full-year GDP growth forecast of 4.5% at this time due to better-than-expected Q1 data and increased policy easing expectations, as well as remaining uncertainties regarding whether some of the tariffs could be negotiated down in the coming months. That said, we acknowledge downside risk from slowing global growth after the large, across-the board US tariff increases.”

S&P Global Ratings credit analyst Ming Tan warned that Trump’s tariffs could exacerbate China’s weak economy: “The drag on China’s economy from higher tariffs will transmit to banks. We expect problem loans will rise over the next few years and could leap as high as 6.4% of total loans in a downside scenario.” Fred Neumann, chief Asia economist at HSBC, had a big-picture view for clients: “The era of Asia’s export manufacturing-led development has come to an end, and the region will need to develop markets closer to home.”

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No paper work for cheap trinkets picked up on a holiday. Makes sense. But when it becomes anything under $800, that sense changes profoundly. Now we’re talking laptops.

• President Trump Ends Duty-Free De Minimis Treatment for All Chinese Goods (CTH)

The de minimis loophole comes from back in the 1930s. The idea back then was, say you went on a vacation to Paris, you shouldn’t have to file customs paperwork or pay taxes if you decided to ship some little Eiffel Tower statues to your friends back home. Congress in 2015 then raised the de minimis threshold from $200 to $800. However, the e-commerce world exploded, and Chinese companies began using the de minimis loophole to ship cheap goods (ex. Temu and Shein) into the USA direct to consumers without paying any customs duty. Yesterday as part of the global trade reset and tariff structure, President Trump revoked authorization for Chinese goods to transfer to the USA using the de minimis rule.

The de minimis exemption has been cancelled for all products coming out of China. The rule change only targets China and Chinese shippers. No one else. The minimum duty is $25, and the tariff rate is 30% for all products mailed from China into the USA that previously qualified under the de minimis rule. Beyond tariffs or sector specific countervailing duties, the removal of China to use the $800 de minimis exemption will destroy their economy. There is no way for manufacturers in China, marketed into the USA, to be able to survive if they are forced to collect and organize the requirements for U.S. custom and import duties. They will simply dissolve.

FACT SHEET – […] “Following the Secretary of Commerce’s notification that adequate systems are in place to collect tariff revenue, President Trump is ending duty-free de minimis treatment for covered goods from the People’s Republic of China (PRC) and Hong Kong starting May 2, 2025 at 12:01 a.m. EDT. Imported goods sent through means other than the international postal network that are valued at or under $800 and that would otherwise qualify for the de minimis exemption will be subject to all applicable duties, which shall be paid in accordance with applicable entry and payment procedures. All relevant postal items containing goods that are sent through the international postal network that are valued at or under $800 and that would otherwise qualify for the de minimis exemption are subject to a duty rate of either 30% of their value or $25 per item (increasing to $50 per item after June 1, 2025).

This is in lieu of any other duties, including those imposed by prior Orders. Carriers transporting these postal items must report shipment details to U.S. Customs and Border Protection (CBP), maintain an international carrier bond to ensure duty payment, and remit duties to CBP on a set schedule. CBP may require formal entry for any postal package instead of the specified duties. The Secretary of Commerce will submit a report within 90 days assessing the Order’s impact and considering whether to extend these rules to packages from Macau.”

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They can all make the deal to abolish their own tariffs.

• World Leaders React To Trump’s Tariff Onslaught (RT)

US President Donald Trump on Wednesday rolled out a sweeping new wave of “reciprocal tariffs” as part of his so-called “Liberation Day” plan, sparking concerns over a potential global trade war. Trump announced that Washington would impose tariffs ranging from 10% to 49% on all countries based on the principle of reciprocity, declaring it a day of economic independence for the United States. Trump said the tariffs would be used to boost US manufacturing and that the measure would “make America wealthy again.” Many countries have reacted with dismay and have pledged retaliation. While a 10% base tariff was applied to all imports, many of the top US trading partners were hit with much steeper duties.

China China – branded one of the “worst offenders” by Trump – was hit with a new 34% tariff on its goods, in addition to an existing 20% levy, raising total duties to at least 54%. The US decision ignores the balance of interests established through years of multilateral trade negotiations and overlooks the fact that it has long reaped significant benefits from global trade, the Chinese Commerce Ministry said in a statement on Thursday. “China firmly opposes this and will take countermeasures to safeguard its own rights and interests,” the ministry said. “There are no winners in trade wars, and there is no way out for protectionism. China urges the US to immediately lift unilateral tariffs and properly resolve differences with its trading partners through dialogue on an equal footing,” the ministry added.

Canada Canada, already subject to US tariffs, was spared the additional 10% baseline tariffs applied to many other countries due to its membership in the US-Mexico-Canada Agreement (USMCA). It’s unclear how much last week’s “extremely productive” call between Trump and Canadian Prime Minister Mark Carney influenced the decision to grant Canada a reprieve. Last month, Trump imposed a 25% tariff on Canadian goods and 10% on energy products, citing concerns over drugs and migrants crossing the border. Exceptions were made for importers who can prove their products comply with USMCA. Carney stated that while Trump had preserved key aspects of the commercial relationship between Canada and the US, the tariffs on steel, aluminum, and automobiles were still coming into effect. “We are going to fight these tariffs with countermeasures, we are going to protect our workers, and we are going to build the strongest economy in the G7,” Carney said.

Mexico Another major US trade partner, Mexico, also avoided Trump’s global tariff. The US president had earlier slapped 25% tariffs on its southern neighbor, citing failures to address migration and fentanyl trafficking, but later carved out exemptions for USMCA-compliant goods. Mexican President Claudia Sheinbaum said the country has no plans to impose retaliatory tariffs on the US and will “announce a comprehensive program, not a tit-for-tat on tariffs.” “Let’s see what announcement they make, but we have a plan to strengthen the economy under any circumstance,” Sheinbaum added.

EU European Commission President Ursula von der Leyen described the universal duties as a “major blow to the global economy.” She claimed that a new 20% US tariff on the EU would see “uncertainty spiral,” causing “dire” consequences “for millions of people around the globe.” The move will “trigger the rise of further protectionism,” von der Leyen argued, warning that the bloc is prepared to respond. “If you take on one of us, you take on all of us,” she stated. Echoing her remarks, European Council President Antonio Costa said a trade war between the EU and the US would “affect everyone,” and called Trump’s decision a “major economic mistake.” Italian Prime Minister Giorgia Meloni, a close ally of Trump, criticized the decision as “wrong” but expressed her commitment to negotiating a deal with the US to “prevent a trade war.”

In Germany, the EU’s major economic powerhouse, which has been grappling with a downturn over the past two years, Economy Minister Robert Habeck slammed the US “obsession” with tariffs, warning that it “could put a spiral in motion that can tear countries into recession.” In France, President Emmanuel Macron is set to convene representatives from all business sectors affected by the import tariffs as producers are already counting future losses. Sales of French wine and spirits are expected to drop by at least 20% in the US, spirits exporters group FEVS told Reuters.

“We are indeed going to see an adverse effect on production,” French government spokeswoman Sophie Primas told broadcaster RTL. Trump “thinks he is the master of the world” but the EU is “ready for this trade war” and has a “whole range of tools,” she insisted. The sweeping tariffs will put jobs at risk on both sides of the Atlantic, according to Irish Taoiseach (Prime Minister) Micheal Martin, who believes there is “no justification for this.” Goods from Ireland will be hit with a 20% tariff as part of measures Trump has imposed on the EU. “More than €4.2 billion worth of goods and services are traded between the EU and the US daily. Tariffs drive inflation, hurt people on both sides of the Atlantic, and put jobs at risk,” Martin said.

UK Britain was hit less hard than most other countries with a 10% duty imposed on its exports. Prime Minister Keir Starmer said “nobody wins in a trade war” and vowed to “fight for the best deal for Britain.” He argued that there’s a “range of levers at our disposal” stressing, however, that the UK’s “intention remains to secure a deal” with the US. ‘Reciprocal’ duties, action against ‘pathetic’ EU: Key points from Trump’s global tariff announcementREAD MORE: ‘Reciprocal’ duties, action against ‘pathetic’ EU: Key points from Trump’s global tariff announcement

Japan Japan has “serious concerns” about the consistency of Trump’s tariffs with the WTO agreement and the Japan-US trade deal, Prime Minister Shigeru Ishiba said in a statement. Japanese Trade Minister Yoji Muto described the measures as “extremely regrettable” and stated that all options were under consideration. When asked whether Japan would retaliate against the 24% tariff imposed by the US, he said: “We need to decide what is best for Japan, and most effective, in a careful but bold and speedy manner.”

Israel Economic officials in Israel, a key US ally, were reportedly in “complete shock” over the 17% tariff imposed by Trump, according to local media. The country had eliminated all tariffs on American imports ahead of the announcement to ensure that Israel was exempt from new levies. “We are working to understand the motivation behind this move,” Ron Tomer, president of the Manufacturers Association of Israel, said on Wednesday.

Ukraine The new 10% tariff announced by Trump on Ukrainian imports is “economic cynicism,” said Daniil Getmantsev, head of the Ukrainian Parliament’s Finance Committee. According to Getmantsev, the levy is unlikely to have a major negative impact on Ukraine, given the relatively small exports to the US. “But imposing such tariffs when our trade balance with the US shows a $2.6 billion deficit is, frankly, economic cynicism of the highest order,” he added.

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“Well, I would say they’ve been doing it to us for a long time. And, if they don’t like tariffs, then why do they have them?”

• Here’s Why Trump Will Win the Tariff Standoff (Margolis)

Treasury Secretary Scott Bessent made it clear in an interview with CNN that the era of trade imbalances is over, and under President Trump, the U.S. will no longer tolerate unfair treatment. During a discussion with CNN’s Kaitlan Collins, Bessent confidently explained the administration’s position on tariffs and trade policy, signaling that Trump’s economic strategy is deliberate and well thought out. When pressed on how the administration’s policies could impact the auto industry, particularly regarding vehicles made with foreign parts, Bessent was blunt. “If half the cars coming into the United States are foreign-made, that’s hard to turn around overnight, as you know,” Collins said. “So what would you say to people in the auto industry who are worried about that timeline and how quickly that could shift?”

“Buy American,” Bessent said bluntly. He also clarified that the United States-Mexico-Canada Agreement (USMCA) exempts certain vehicles and parts from the new tariffs. Collins attempted to raise concerns from U.S. allies, questioning what the administration would say to countries like South Korea and Japan, which are now facing increased tariffs. Bessent’s response was direct: “Well, I would say they’ve been doing it to us for a long time. And, if they don’t like tariffs, then why do they have them?” His answer underscored the administration’s stance that America has been on the losing end of trade deals for too long.

As for whether the tariffs should be considered permanent, Bessent took a wait-and-see approach. “I think we’re gonna wait and see how this plays out,” he explained, suggesting that adjustments could be made based on how the policy unfolds. Collins also asked about the possibility of retaliation from other countries. Some foreign leaders have hinted at potential countermeasures, while others have opted to observe before making a move. Bessent urged patience. “One of the messages that I’d like to get out tonight is everybody sit back, take a deep breath, don’t immediately retaliate, let’s see where this goes. Because if you retaliate, that’s how we get escalation.”

When Collins pressed him on whether such escalation could turn into a full-fledged trade war, Bessent dismissed the idea. “Not a trade war. Depends on the country,” he said, before explaining that history favors the United States in such disputes. “Remember that the history of trade is, we are the deficit country. The deficit country has an advantage,” he explained. “[The others] are the surplus countries. The surplus countries traditionally always lose any kind of a trade escalation.”

His message to foreign governments was clear: Acting hastily would be a mistake.“ As a student of economic history or a professor of economic history, I’d advise against it,” he said. When Collins sought further clarification, he reinforced the point: “I would say that doing anything rash would be unwise.” Bessent’s remarks leave no doubt that Trump’s trade policies are rooted in historical precedent and strategic calculation. While globalists may panic, the Trump administration remains confident that America is in a stronger position than its trade partners. And history is on our side. Bessent’s message is clear: Trump knows exactly what he’s doing.

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Carney has elections coming. And his party polls great on anti-Trump thetoric. But he’ll still have to walk it back.

• Kevin O’Leary Slams Canada’s ‘Sheer Stupidity’ in Trade Standoff With Trump (Margolis)

Famed entrepreneur and “Shark Tank” star Kevin O’Leary eviscerated Canada’s leadership for its defiant stance against U.S. trade policies, calling the rhetoric from Interim Prime Minister Mark Carney “sheer stupidity” and warning that the country is in no position to win a trade war with President Trump. Speaking on CNN, O’Leary, who is himself Canadian, reacted to Carney’s inflammatory remarks. The prime minister declared, “We are cutting off all ties to the United States. There’s no cooperation anymore.” O’Leary dismissed the statement as political posturing with no basis in economic reality. “That, of course, is sheer stupidity,” he said. “Seventy-five percent of the output of the Canadian market for over a hundred years has been sold to the U.S., and 17 states in the U.S. call Canada their number one trading partner.”

O’Leary pointed out that despite Carney’s tough talk, Canada is economically dependent on the United States and cannot afford to play a game of brinkmanship with its largest trading partner. He argued that Carney’s remarks were more about political theatrics than sound economic policy. “If you wanna be tough and you wanna sound important and you’re trying to get elected and you’re the only person that can save every Canadian from the evil Trump, that’s exactly what you say,” O’Leary said, accusing Carney of exploiting anti-Trump sentiment to bolster his own political image. He likened Carney’s rhetoric to that of Trump trade advisor Peter Navarro, who has declared that U.S. tariffs would remain in place indefinitely. O’Leary was equally dismissive of such claims, calling them nothing more than political noise meant to rally supporters rather than provide real solutions.

“Navarro’s saying the same thing. ‘These tariffs are in perpetuity. We will fix this. We will push back the world’. All of this rhetoric and noise, it’s not the signal.” O’Leary argued that the best path forward would be a trade framework in which tariffs are removed entirely. “It’s all noise. And in the end, I think everybody’s better off if we get to reciprocal tariffs of zero,” he said. I think we all know that this is Trump’s goal, too. He wants free trade to actually be free trade. O’Leary emphasized that serious investors like himself look at the long-term picture rather than get caught up in the short-term panic created by political leaders. “So the countries you care about, that you wanna do business with, you end up with zero tariffs and you support a free trade mandate. It’s very hard to see that outcome in the cloud we’re in right now and all the rhetoric and jawboning, but if you’re an investor like I am, you think long term.”

While some have expressed concerns about rising inflation and housing prices, O’Leary cautioned that such economic shifts take time to unfold. “Not two weeks, not two months,” he said, pushing back against the notion that immediate catastrophe was looming. O’Leary noted that similar political grandstanding is happening in other countries as well. “Britain’s doing the same thing right now,” he pointed out. “You should hear the rhetoric in London today.” Ultimately, O’Leary was confident that the current wave of economic fearmongering would subside. “It too will pass,” he concluded, reinforcing his belief that Canada’s leadership needs to drop the empty threats and focus on practical solutions.

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“..the US’s Cold War era-based foreign policy perfectly suits European elites, who want Trump back into “the fold of the historical West..”

• How Could Trump Tackle Trap Set Up by Europe? (Sp.)

The US president earlier said that “from the standpoint of America, the EU treats us very, very unfairly, very badly. The US’s European allies set up a trap for the Trump administration to contain its “drastic” foreign policy shift, Alexander Yakovenko, Deputy Head of Rossiya Segodnya International Media Group, told Sputnik. Trump could get out of the trap if he “masters enough political will” and doesn’t “put up with the US foreign policy strategy of the Cold War era”, Yakovenko, who is also head of the Russian Security Council’s Expert Advisory Committee on global problems and international security, stressed. The expert noted that the US’s Cold War era-based foreign policy perfectly suits European elites, who want Trump back into “the fold of the historical West, as we have known it over the past 80 years.” The European elites are unwilling to change “their mentality and their worldview, they’d rather live in the world of their own, which I think doesn’t exist any longer,” Yakovenko emphasized.

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“President Trump had the courage to allow us to go across databases. He signed an executive order. It’s never been done before, where agencies could talk to each other and databases could talk with each other.”

• Trump Teases Bombshell DOGE Finding: ‘What They Found Is Incredible’ (ZH)

President Donald Trump teased another explosive revelation from the Department of Government Efficiency (DOGE), as Democrats and legacy media escalate their ongoing campaign against the cost-cutting initiative and its leader, Tesla CEO Elon Musk. While speaking with the press aboard Air Force One en route to South Florida for the weekend, Trump said: “They found something today that’s horrible,” adding. “You’ll find out very soon. What they found is incredible.” Trump also gave Musk credit for his leadership at the Department of Government Efficiency (DOGE), which has so far achieved an estimated savings of $140 billion, amounting to roughly $869.57 per taxpayer.

“Elon is fantastic,” the president said. “He’s a patriot. He found millions of dollars of fraud.” “He loves the country that’s why he does it,” he added. Addressing speculation about Musk’s future, Trump responded to reporters, “I want him to stay as long as possible.” The president also commented on the recent wave of violent attacks targeting Tesla vehicles and dealerships, incidents he has previously labeled as “terrorism.” “It’s a shame what they are doing with his car company,” he said. “It’s a great car, great product.” According to a since debunked Politico report citing unnamed sources, Trump has privately indicated to close associates that Musk plans to scale back his involvement as an advisor in the near future. While Musk and the White House denied the report, Trump told reporters on AF1 that “Elon is fantastic,” but he has “a number of companies to run.”

“I want him to stay as long as possible,” said Trump. “There’s going to be a point where he’s going to have to leave.” Over the weekend, at a Wisconsin rally aimed at boosting voter turnout, Musk and DOGE volunteer Antonio Gracias disclosed that millions of noncitizens were granted Social Security numbers under former President Joe Biden’s administration. They presented a chart illustrating a consistent annual rise, peaking at over 2 million in FY 2024, which concluded on September 30. In both FY23 and FY25—the latter starting in October and running through September of this year—approximately 1 million noncitizens received Social Security numbers.

“None of this would have happened without President Trump,” Gracias told Fox News. “President Trump had the courage to allow us to go across databases. He signed an executive order. It’s never been done before, where agencies could talk to each other and databases could talk with each other.” “That allowed us to connect all this data, to find these people across the system, across the benefit system, all the way to the voting records. It really took a lot of courage,” he added. Now the question is; what’s this ‘horrible’ thing DOGE found? And is it just a ‘LOOK, SQUIRREL!’ to distract from all the ‘fun’ we’re having in response to new tariffs?

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US must make Norway rich because they’re both in Nato?!

• Trump Tariffs Breach NATO Rules – Norway (RT)

Recently imposed US tariffs could breach NATO’s founding principles by undermining economic cooperation among allies, Norwegian Foreign Minister Espen Barth Eide has said. He raised the issue during the NATO foreign ministers’ meeting in Brussels on Thursday, public broadcaster NRK has reported. The official reportedly pointed to Article 2 of the North Atlantic Treaty, which commits members to strengthen economic ties to foster peace and stability within the alliance. “If you want a strong NATO, you should ensure that there is as much economic growth as possible in the NATO countries,” NKR quoted him as saying. “That was the insight of those who established NATO, that economic cooperation would be good for the entire alliance,” the diplomat added.

According to the outlet, Eide raised the matter directly with US Secretary of State Marco Rubio during the meeting, saying “We must be clear that protectionist measures between allies are a serious problem.” On Wednesday, US President Donald Trump announced sweeping tariff increases on numerous trading partners, including NATO countries. Norway is among those affected, facing a 15% duty on selected exports to the United States. Norwegian Prime Minister Jonas Gahr Store told NKR on Thursday that Oslo would seek to negotiate with the US over the tariffs.

“This is bad news, it is very serious,” Store said. “There is an opening for negotiations here, the Americans say, and we will use that in every possible way that we can,” he added. Trump’s announcement has sparked concern across the EU, with several NATO allies voicing fears that the tariffs could harm both trade and alliance unity. French President Emmanuel Macron has called the tariffs “brutal and unfounded,” and warned that retaliation could include a digital tax on American tech companies.

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“Europe has not been successful in dealing with President Putin, but I think I will be successful.” Well, to be honest, Europe is not trying.

• Putin, Zelensky Ready To Make A Deal – Trump (RT)

The leaders of Russia and Ukraine are ready to make a peace deal, US President Donald Trump claimed on Thursday. He has been trying to broker a ceasefire between the two neighbors since February. A reporter asked Trump on Air Force One about his communication with Ukrainian leader Vladimir Zelensky. “I think he’s ready to make a deal. And I think that President [Vladimir] Putin is ready to make a deal,” Trump said. He declined to go into specifics but added that the US was having “a lot of good conversations about Ukraine and Russia.” “We like to see [the conflict] stopped as soon as possible because thousands of people have been killed in a week,” Trump said. “Europe has not been successful in dealing with President Putin, but I think I will be successful.”

Trump made his comments as Putin’s investment envoy, Kirill Dmitriev, traveled to Washington, where he reportedly met with America’s Middle East envoy, Steve Witkoff. The sides mostly continued discussing steps to normalize bilateral relations frozen by the Biden administration in 2022, Dmitriev told reporters on Thursday evening. He noted the “positive dynamic” of the talks, adding that more meetings need to take place to resolve the differences. Trump’s Ukraine envoy, Keith Kellogg, told Fox Business on Wednesday that Trump has been “frustrated” with both Putin and Zelensky. He remained optimistic about the negotiations, saying that the sides were “on the precipice” of a comprehensive ceasefire.

Moscow has accused Kiev of multiple violations of the energy truce brokered by Trump last month. According to the Russian Defense Ministry, the Ukrainian troops struck fuel depots, gas facilities, and the electrical grid, despite promising to respect a 30-day pause on such attacks. Kiev, for its part, claimed that Russia was breaching the same agreement. Russia has maintained that any long-term settlement would be viable only if the US and Ukraine address the “root causes” of the conflict. Moscow demands that Kiev abandon its plans to join NATO and recognize Crimea and four other former Ukrainian regions as Russian territory.

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Note that Putin didn’t send his political envoy, but his business man.

• Putin Envoy Visits Washington (RT)

Russian President Vladimir Putin’s investment envoy, Kirill Dmitriev, visited Washington on Thursday. He is the highest Russian official who traveled to the US since diplomatic contacts were suspended in 2022. Dmitriev, the head of the Russian Direct Investment Fund, previously participated in the Russian-US talks in Riyadh on February 18, where both sides agreed to start gradually normalizing the ties severed by the Biden administration. Speaking to reporters on Thursday evening, Dmitriev noted that President Donald Trump and his team have a better understanding of Russia’s terms than his predecessor, former President Joe Biden. “We are seeing absolutely clearly that, unlike President Biden, the Trump administration is determined to resolve the whole spectrum of bilateral issues,” the diplomat said.

“They are very respectful. They are listening to Russia’s position, and are understanding Russia’s concerns. They are asking a lot of questions and finding compromises,” he added. “Naturally, there are differences. But there is dialogue, which we believe will help to overcome these differences,” Dmitriev said. The envoy said that he had discussions about restoring trade and normal business relations between the states. “Many American companies would like to replace European companies that have left Russia,” he said. Dmitriev stressed that Moscow is ready to work on business projects that would be beneficial to both countries. He added that the sides talked about potential cooperation in the Arctic and the development of rare-earth minerals. “We are actively working on the resumption of direct flights” between Russia and the US, he said. Dmitriev said that more rounds of talks will be needed to hammer out the deal.

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“We are seeing a coordinated campaign in the media, attempts by various politicians to undermine the relations between Russia and the US, and attempts to distort the statements made by Russia,” the diplomat said. “It happens on a daily basis.”

• Third Parties Attempting To Derail US-Russia Talks – Putin Envoy (RT)

Certain countries want to throw a wrench into the normalization of Russian-American relations, President Vladimir Putin’s investment envoy, Kirill Dmitriev, has said. He made his comment during a rare trip to Washington, where he met with top US officials. “Different countries are trying to derail this dialogue, derail the restoration of the Russian-American relations,” Dmitriev told reporters on Thursday evening. He noted that the negotiations have been accompanied by “a lot of rumors, incorrect quotes, and incorrect interpretations.” “A lot of people are interested in preventing the development of our relations. We are seeing a coordinated campaign in the media, attempts by various politicians to undermine the relations between Russia and the US, and attempts to distort the statements made by Russia,” the diplomat said. “It happens on a daily basis.”

“The best way to overcome disinformation is direct dialogue,” he stressed. Dmitriev reportedly met with Trump’s Middle East envoy, Steve Witkoff, who has been one of the key US negotiators on Ukraine. According to NBC News, the Russian diplomat also met with Republican Senators Lindsey Graham and Markwayne Mullin. According to Dmitriev, the sides mostly discussed steps to gradually amend the cooperation severed by the Biden administration in 2022. The agenda included possible partnership in the Arctic, the development of rare-earth minerals, and the resumption of direct flights between the countries, he said.

Some EU and Ukrainian politicians have attempted to dissuade Trump from restarting negotiations with Moscow. The EU’s top diplomat, Kaja Kallas, claimed last month that “Russia cannot really be trusted.” Ukrainian leader Vladimir Zelensky suggested in February that Trump was trapped in a “disinformation bubble.” Trump has blamed Zelensky for the conflict, while his Ukraine envoy, Keith Kellogg, argued that the EU should be sidelined during negotiations.

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Cue DOGE.

• House Panels Press Probe of ActBlue Campaign Fundraising Operations (Adams)

Top Republican House leaders have formally requested that ActBlue, one of the Democratic Party’s largest political action committees, turn over documents related to its governance and operations. In a letter dated April 2 to ActBlue President and Chief Executive Officer Regina Wallace-Jones, the chairmen of the House committees on the Judiciary, Oversight and Government Reform, and Administration requested documents and testimony from two employees of the organization. The names of the employees whose testimony was requested were redacted in the version of the letter that was made public. A source familiar with the investigation told The Daily Signal, “We expect ActBlue employees to participate in the transcribed interviews and submit the required documents.” The source explained, “If they fail to comply, all options are on the table.”

An ActBlue spokesperson told The Daily Signal, “As we have historically done, ActBlue will continue to respond to requests from the House committees.” In their letter, the committee chairs said that they were seeking “to investigate ActBlue’s fraud-prevention policies and practices, which may allow bad actors to make fraudulent political donations, including from foreign sources.” ActBlue is one of the largest fundraisers for the Democratic Party, and claims to have raised more than $16.7 billion for Democrats since it was founded in 2004. Prior to the recent turmoil in leadership, it was a widely trusted source for liberal giving. ActBlue has come under increasing scrutiny since it announced a wave of departures of top staff in February. The resignations included the organization’s highest-ranking legal officer, the chief revenue officer, and the assistant research director.

ActBlue has received donations from some of the Democratic Party’s most important fundraisers, including thousands of dollars from LinkedIn co-founder Reid Hoffman. The Daily Signal has previously reported that the group may have received millions of dollars through fraudulent donations, according to testimony from some elderly Americans. One such individual, a retired Yale University professor, testified in a signed affidavit that he believed the donations in his name did not reflect his actual donation frequency or dollar amount. ActBlue charges a 3.95% processing fee on donations to it.

The organization also reportedly locked out Zain Ahmad, the last remaining member of the group’s general counsel’s office as of Feb. 26, from his email and other internal platforms. The letter from the House chairmen highlighted the organization’s actions toward Ahmad, who has been put on leave, and noted that ActBlue’s union reportedly told the group’s board that “those of us who work with our legal team in our day-to-day do not have clear direction on how to proceed with our work in their absence.” The House letter noted that fraudulent political donations “could amount to interstate criminal conduct,” citing a legal case that resulted in a Chinese national’s criminal conviction for improper donations.

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By Senator Roger Marshall. The idea is that Oz will execute RFK’s MAHA vision.

• Dr. Oz Will Save Medicare, Strengthen Medicaid, Secure a Healthier America (DS)

Medicaid and Medicare are on a path that should concern all Americans, but with the right leadership, we can turn their trajectory around. On its current course, Medicare, the government-run health insurance program for seniors, will fall off a financial cliff in as little as a decade—maybe even sooner. Meanwhile, Medicaid, the program that pays for health care for the poor, now covers more people than Medicare, placing an enormous strain on both state and federal budgets. As a nation, we face a chronic disease epidemic, and along with it, a crisis of unsustainable rising costs, high demand, and worsening patient outcomes. Over the past five years, Medicaid spending has surged by some 50%—another unsustainable trend that diverts funds from schools, roads, bridges, and high-speed internet.

Together, Medicare and Medicaid will each spend roughly a trillion dollars this year. That’s why we urgently need a Centers for Medicare and Medicaid Services administrator who can rescue Medicare and fortify Medicaid. As both programs fall under the Centers for Medicare and Medicaid Services, we need a leader with a fresh perspective—one who prioritizes patient care while ensuring financial stability. This role demands someone who has experienced these programs at the grassroots level, where patients, doctors, and hospitals intersect. This person must be an exceptional communicator, capable of managing a $2 trillion budget and transforming an organization of 6,000 employees who oversee the health needs of 140 million Americans. This budget accounts for nearly a quarter of federal spending in a system that already overspends by $2 trillion annually.

Above all, we need someone who can help us in our mission to Make America Healthy Again. Thankfully, we have just the person for the job: Dr. Mehmet Oz. To America, he’s Dr. Oz: a world-renowned heart surgeon and the trusted star of a hit TV show. Some may also recognize him as an innovative inventor of lifesaving heart devices, holding both an M.D. and an MBA. But to me, Dr. Oz is a fellow physician and a good friend. He’s a devoted father of four and grandfather of four. He’s a person who cares deeply about finding solutions—a problem-solver ready to tackle the challenges of Medicaid and Medicare head-on, focusing on the health and safety of every American and ensuring those who rely on these programs continue to receive the care they deserve.

Dr. Oz is uniquely equipped to modernize health care. He will harness cutting-edge technology and responsibly integrate artificial intelligence to meet patients’ needs. He’ll champion transparency and prioritize quality outcomes over mere quantity of care or coverage. By empowering patients and providers with choices, he’ll drive higher-quality care. He’ll strengthen telehealth and address the distinct challenges of rural communities, along with those of the inner city. Thinking outside the box, he’ll uncover innovative solutions to our health care woes with full transparency.

Put simply, Dr. Oz is the right leader at the right time to execute President Donald Trump’s and Health and Human Services Secretary Robert Kennedy’s vision to Make America Healthy Again. With his expertise, compassion, and bold leadership, he will transform the Centers for Medicare and Medicaid Services into a beacon of fiscal responsibility and patient-centered care. There’s no one better suited to save Medicare, strengthen Medicaid, and secure a healthier future for all Americans. I look forward to his swift confirmation and the work he will do to address our health crisis. With Dr. Oz, Secretary Kennedy, and President Trump at the helm, the best is truly yet to come for our health care system and its patients.

https://twitter.com/Holden_Culotta/status/1907927964131668210

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Only Israel wants it.

• War With Iran ‘Almost Inevitable’ – France (RT)

A military conflict with Iran would be highly likely if attempts to renegotiate a new nuclear deal fail, French Foreign Minister Jean-Noel Barrot has warned. US President Donald Trump has threatened Tehran with a bombing campaign if it does not concede on its nuclear program, which Washington alleges is aimed at developing atomic weapons. The Iranian government, which vehemently denies the claims, has vowed to retaliate against any attack. Addressing French MPs on Wednesday after an Iran-focused government meeting led by President Emmanuel Macron, Barrot stated that without a new agreement, “a military confrontation would appear almost inevitable,” warning that such a scenario could further destabilize the Middle East.

In 2015, Iran and major world powers signed the Joint Comprehensive Plan of Action (JCPOA) accord which restricted Tehran’s nuclear activities in exchange for sanctions relief. However, in 2017 Trump unilaterally withdrew from the arrangement, which he and Israeli Prime Minister Benjamin Netanyahu labeled “the worst deal ever,” opting instead for a campaign of “maximum pressure” through sanctions. The EU sought to provide Iran with means to bypass American pressure to preserve the JCPOA, but negotiations have since stalled. The standoff has bolstered a hardline foreign policy approach in Tehran, which refused to uphold its commitments in retaliation for Western failure to deliver on its part of the nuclear pact .

Since beginning his second presidential term in January, Trump has repeatedly issued threats of military action unless Tehran agrees to a new nuclear deal. In a recent interview, he stated, “If they don’t make a deal, there will be bombing. And it will be bombing the likes of which they have never seen before.” Iranian Supreme Leader Ayatollah Ali Khamenei defiantly responded to Trump on Monday, warning that the US and Israel “will definitely receive a strong, reciprocal blow” if they attack Iran. Amid the escalating tensions, the Pentagon announced on Tuesday it had deployed additional assets to the Middle East. According to Reuters sources, four B-2 bombers have been relocated to a base on Diego Garcia Island, positioning them for potential missions against Iran.

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“..the ICC is becoming a political entity rather than an impartial court upholding the rule of law..”

• Hungary to Abandon ICC Over Concerns of Political Bias – Orban (Sp.)

Hungary has decided to withdraw from the International Criminal Court (ICC), as it believes the institution has shifted from an independent judicial body to a politically motivated one in recent years, Hungarian Prime Minister Viktor Orban announced on Thursday. “We are convinced that the ICC is becoming a political entity rather than an impartial court upholding the rule of law. This has been particularly evident in its recent decision regarding Israel,” Orban stated at a press conference alongside Israeli Prime Minister Benjamin Netanyahu. According to Orban, Hungarian Foreign Minister Peter Szijjarto will present a bill to parliament on Thursday, officially initiating Hungary’s withdrawal from the Rome Statute.

Earlier in the day, Orban’s chief of staff, Gergely Gulyas, confirmed that the Hungarian government had made the decision to leave the ICC, with the formal withdrawal process set to begin later on Thursday. The ICC’s disregard for the immunities of heads of state from countries that are not parties to the Rome Statute violates international law and thus undermines the court’s own legitimacy as an independent party in disputes. Moreover, its actions destabilize global security, making it difficult to view the ICC as a body acting on behalf of the international community.

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CO2

 

 

Calley Means
https://twitter.com/VigilantFox/status/1907512164933320833

 

 

Bowden
https://twitter.com/McCulloughFund/status/1907511535078936726

 

 

autism

 

 

Canaia
https://twitter.com/ContrarianTribe/status/1907779479168016572

 

 

Pi
https://twitter.com/gunsnrosesgirl3/status/1907831288691614116

 

 

Car

 

 

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