Law of Markets

Dedicated to the economics and politics of the free market

Law of Markets

PDT v BHO

Sanctimony in action. Unbelievably shallow.

PDT’s reply.

Yet the media, most of the academic world, large slices of the American voting population would go back to the most incompetent presidency in history. Eight years of decline and not a single accomplishment I can think of during all of the years he was in office. Now he even wants to claim the recovery is due to him. And in a sense it is, since DJT could only have become president because Obama had preceded him.

Getting the unbalanced just right

On the one hand:

Longtime Trump Org CFO granted immunity...
'Narrow in scope'...
Manhattan D.A. Eyes Criminal Charges...
'We don't know quarter of what's in pocket of Mueller'...
RUDY TAKES SHOT AT PRESIDENT FOR 'FLIPPING' COMMENTS...
LEAK: Aides expect to go rogue on pardon...
DRAMA: George Conway tweets again...
Mueller Muzzles Manafort...
BUCHANAN: We are headed for hellish year...
DAN RATHER: STAY TUNED...
Kavanaugh argued the president can be impeached for lies, cover-ups and refusing to testify...
Dems' midterm strategy: Stop talking about Trump... 

But then on the other:

STOCKS RECORD HIGH...

Trumped up charges

Before I add my own comment, you are advised (urged) to look at this post at Reddit: Connecting some dots. You are guaranteed not to read it in the papers.

Now to Manafort and Cohen, which is, in essence: “Look Michael, see what we did to Paul. Well we can do the same to you.” And they can. And they will, if he does not cooperate 100%. So what is the issue? This is how Manafort fits in:

The trial of Manafort, who chaired Donald Trump’s campaign in mid-2016 when Trump was selected as the Republican presidential nominee, never dealt with possible collusion between the campaign team and Russia or efforts to obstruct justice that Special Counsel Robert Mueller is investigating.

But they got their man. So how does Cohen fit in: Cohen testifies Trump told him to commit crime by paying off women. This, by the way, is not illegal:

U.S. President Donald Trump’s former personal lawyer Michael Cohen testified on Tuesday that Trump had directed him to commit a crime by arranging payments ahead of the 2016 presidential election to silence two women who claimed to have had affairs with Trump.

This is what’s illegal:

“Today he (Cohen) stood up and testified under oath that Donald Trump directed him to commit a crime by making payments to two women for the principal purpose of influencing an election,” Davis said in a statement.

And only if that was the reason is it even technically illegal, and only because the payment was not declared as an election expense. If he merely wished to avoid having to deal with his wife over the question of adultery, say, then it is not illegal for him to have paid these women to keep things to themselves.

We are dealing with some of the sleaziest people you will ever see and I don’t in this case mean Stormy Daniels. Meanwhile it is very likely that Cohen will say whatever he is told to say:

Cohen, 51, made the statements as he pleaded guilty to eight criminal charges in federal court in Manhattan, including tax evasion, bank fraud and campaign finance violations.

If they can get him out, they will get him out. All of it right before your righteous eyes.

MEANWHILE: Unless you have been paying close attention, you won’t even know who this is: JUDGE GIVES NO JAIL TIME TO IMRAN AWAN, ATTORNEY CLAIMS HE WAS BUILDING ‘WOMEN’S SHELTER’. The major points in the story:

  • Former IT aide Imran Awan received no jail time Tuesday after a federal judge said he had “suffered enough.”
  • His lawyer said his “destitute” client was building a charity hospital, but reports show that the land was also used for a real estate development and was allegedly stolen from farmers.
  • Former Democratic chiefs of staff wrote letters of support for Imran, despite IT-violation findings by the House inspector general and Capitol Police.

Here is an anodyne version of why he was up on charges:

Imran and his family were banned from the House computer network in February 2017 after the House’s top law enforcement officer wrote that Imran is “an ongoing and serious risk to the House of Representatives, possibly threatening the integrity of our information systems,” and that a server containing evidence had gone “missing.” The inspector general said server logs showed “unauthorized access” and procurement records were falsified.

The best bit in the story is that Imran actually thanked the prosecutors! He also no doubt has more material than Julian Assange that if he leaked it out could put half the Democrat caucus away for a very long time.

And I like this from some comment somewhere:

Mueller’s novel and idiotic theory is that Trump’s blackmail payoff was an illegal campaign contribution to himself.

I wonder if that really is the scope of it.

A positive story about both coal AND Donald Trump

The world may really be about to change. From Donald Trump saves coal from renewables surge from The Weekly Standard and published in The Australian.

No country has a greater abundance of hydrocarbon energy than the US. The corollary is that no country was as big a loser from participating in the Paris Agreement and its intention to progressively decarbonise the world’s hydrocarbon superpower. On July 10, the Energy Information Administration forecast that next year the US would produce 12 million barrels of oil a day and overtake Saudi Arabia to be the world’s No 1 producer. When it comes to the politics of energy, the interests of the US and European green ideology are irreconcilable.

Trump understands this. “Our country is blessed with extraordinary energy abundance, which we didn’t know of even five years ago and certainly 10 years ago,” the President said last year. Those remarks were not only a paean to America’s energy resources, they were a full-dress rejection of the policies of his predecessor and of the Democrats’ goal of Europeanising US energy policy.

“We have nearly 100 years’ worth of natural gas and more than 250 years’ worth of clean, beautiful coal,” he said. “We are a top producer of petroleum and the No 1 producer of natural gas. We have so much more than we ever thought possible. We are really in the driving seat. And you know what? We don’t want to let other countries take away our sovereignty and tell us what to do and how to do it. That’s not going to happen. With these incredible resources, my administration will seek not only American energy independence that we’ve been looking for so long, but American energy dominance.

“And we’re going to be an exporter — exporter. We will be dominant. We will export American energy all over the world … These energy exports will create countless jobs for our people, and provide true energy security to our friends, partners and allies all across the globe.”

For the first time since 1992, when George HW Bush went to the Rio Earth Summit, a US president was outlining a global energy strategy diametrically opposed to the tenets underlying the UN climate process. Trump was establishing a rival pole based on energy realism and energy abundance.

On just this alone, PDT can lift the American economy into a prolonged period of rising growth and higher incomes. It’s amazing that no one else has the strength and courage to do the same anywhere else.

The right and the left on the ending of the Korean War

There are two views on North Korea that you can find if you look. The easiest to find is the left-media take that nothing happened, and it’s all a well-worn charade. But then there is this, which I will come to first before looking at the other. This is the positive view, taken from Ace of Spades.

The big news this morning is not only has the summit between President Trump and North Korean leader Kim Jong-Un taken place but as we were sleeping the two signed an historic agreement whereby the North has agreed to scrap its nuclear weapons program as part of an overall denuclearization of the entire Korean peninsula.

If you were merely to look at this only through the lens of how the Democrat-Left-Media complex judges success, via optics and feelings alone, then this is the biggest thing since Live Aid. But in reality, this truly has the potential to be one of the biggest foreign policy milestones since the fall of the Berlin Wall.

Make no mistake; North Korea has been a belligerent, inscrutable and unpredictable enemy that has overtly and covertly stirred up trouble for nearly 70 years and so an extreme degree of caution and wariness is advised in any dealings with them; the foibles and follies of the past three administrations in particular bear this out as their policies have ranged from farcical to disastrous in terms of American interests and global security. I believe that PDT and his new team of Pompeo and Bolton know this going in.

Beyond all the platitudes and proclamations, when you get down to the granular level, the make or break in all of this relies on verification. North Korea is going to have to open up and submit to an inspection process that is antithetical to its nature as the world’s most closed, secretive nation. Can it do this? Will it do this? I suppose the fact that Kim’s willingness to meet face to face with an American president for the first time, and outside of his own country is something of a tell. He is the X factor in all of this. There may be things going on in Pyongyang as well as in his mind that tell him a rapprochement with the US, and more importantly, a concomitant distancing to whatever extent that is possible with China is in his and his nation’s best interests.

That is how you have to see it. Since memories of the rockets that were being launched not all that long ago have receded and will never be brought to mind by the media, the fact that we are now looking at a possibility of genuine peace is extraordinary. But here is the other side, brought to you via Bloomberg.

Donald Trump’s historic summit with North Korean leader Kim Jong Un was unquestionably a success — for Kim.

By credibly threatening the U.S. with nuclear war, he won a one-on-one meeting with the American president — a longtime strategic goal of his family’s regime. And that’s not all.

Trump tossed in a suspension of military exercises with South Korea, while China suggested revisiting economic sanctions that the White House credits for the summit. Meanwhile, the president showered Kim with praise, calling the dictator who leads one of the planet’s most oppressive and brutal regimes “smart” and “very talented,” declaring the meeting “a great honour” and saying he trusts Kim.

Less clear is what the U.S. got in return. American officials said before the meeting they would insist that Kim agree to the “complete, verifiable and irreversible dismantlement” of his nuclear weapons arsenal. The phrase appears nowhere in Trump and Kim’s statement.

Also missing: basics such as a timetable for Kim to give up his weapons, verification procedures or even a mutual definition of denuclearization. . . .

So far, Trump hasn’t shown he’ll avoid the same trap he’s accused his predecessors of falling into: giving North Korea too much without getting anything in return. While the president repeatedly described the document he and Kim signed as “comprehensive,” at 426 words it is anything but — and there is no indication of when or how Kim will follow through on any of his promises.

Fair enough, but the mingy dogs of the left will never say a good word about something done that benefits even their worthless hides, if it is done by someone whose approval they refuse to grant. But we shall see. These are all issues, but with Trump, Bolton and Pompeo on the watch, there is genuine reasons to hope for the best.

UNDERSTANDING THE ATMOSPHERICS: From a comment at Powerline:

Not a formally educated engineer or scientist, but I understand how things work (passed with flying colors the IC2/3 petty officer test without ever going to “A” school. I just looked at the gear and figured out how it worked.)

The one thing I understood very, very quickly (playing around with ham radio as a pre-teen) was signal to noise ratio. Anyone that understands that concept knows what Trump is doing. Lawyers rarely learn this skill. Their avocation (skill set) is to dissect every comma and period for meaning. To skilled/gifted science/engineering types finding the signal and ignoring the noise is easy peasy with Trump.

In other words take him seriously, but not literally — but that is like garlic to a vampire for a lawyer — most lawyers rank way down the scale from vampires

This is also why I know for a fact that man is not controlling the temperature of the atmosphere by using a quick study of signal to noise ratios of temp data over the long term. If you understand that concept and look at the data (even the climate hysterics data) you see for sure that man has nothing to do with climate — except maybe to move to one that suites you.

Which side are you on?

Trump blasts Canada’s Trudeau for ‘false statements’…
Rough talks sour G7 mood; Confrontations…
Trump refuses to back declaration calling for tariff reductions…
Holds rare solo news conference, defends bashing press…

Comes with this:


TRUMP APPROVAL TOPS OBAMA AND REAGAN AT SAME TIME IN PRESIDENCY…

I actually cannot understand why anyone with sense would have preferred Hillary to PDT but by now, if you are not completely persuaded that Trump is our last chance for the West to hold itself together, then your political judgement is good for nothing. Like this in particular:

“The EU understands that the only way with Trump is strength,” said one European official. “If you give in now, he will come back tomorrow for more.”

Hope things continue with his meeting with Kim (the other Kim) on Tuesday.

500 days gone with 2500 more to come

Go on. Play it!

With this from Media blackout: Trump’s 60-point accomplishment list of ‘American Greatness’.

In his first 500 days in office President Donald J. Trump has achieved results domestically and internationally for the American people.

  • Since taking office, President Trump has strengthened American leadership, security, prosperity, and accountability.
  • After 500 days, the results are clear: the American economy is stronger, American workers are experiencing more opportunities, confidence is soaring, and business is booming.
  • President Trump has re-asserted American leadership on the world stage, secured vital investments in our military, and stood up against threats to our national security.
  • President Trump has put the American people first and made government more accountable.

AMERICA’S ECONOMY IS STRONGER: The American economy is stronger today and American workers are better off thanks to President Trump’s pro-growth agenda.

  • Nearly 3 million jobs have been created since President Trump took office.
  • 304,000 manufacturing jobs have been created since President Trump took office, and manufacturing employment stands at its highest level since December 2008.
  • 337,000 construction jobs have been created since President Trump took office, and construction employment stands at its highest level since June 2008.
  • Under President Trump, the unemployment rate has dropped to 3.8, the lowest rate since April 2000, and job openings have reached 6.6 million, the highest level recorded.
  • 67 percent of Americans believe now is a good time to find a quality job, according to Gallup.
  • Only under President Trump have more than 50 percent of Americans believed it is a good time to find a quality job since Gallup began asking the question 17 years ago.
  • President Trump prioritized job training and workforce development to empower workers to seize more opportunities, signing an Executive Order to expand apprenticeship opportunities.
  • President Trump has restored confidence in the American economy, with confidence among both consumers and businesses reaching historic highs.
  • Consumer confidence in current conditions has reached a 17-year high, according to the Conference Board.
  • Optimism among manufacturers has hit record highs under President Trump, according to the National Association of Manufacturers.
  • Small business optimism has sustained record-high levels under President Trump according to the National Federation of Independent Business.
  • President Trump signed the historic Tax Cuts and Jobs Act into law, cutting taxes for American families and making American business more competitive.
  • American families received $3.2 trillion in gross tax cuts and saw the child tax credit double.
  • The top corporate tax rate was lowered from 35 percent to 21 percent so American businesses could be more competitive.
  • President Trump has rolled back unnecessary job-killing regulations beyond expectations.
  • In 2017, President Trump far exceeded his promise to eliminate regulations at a two-to-one ratio, issuing 22 deregulatory actions for every new regulatory action.
  • The Administration rolled back rules and regulations harming farmers and energy producers, such as the Waters of the United States Rule and the Clean Power Plan.
  • Regional and community banks and credit unions got relief after President Trump signed legislation reducing harmful requirements imposed by the Dodd-Frank Act.
  • Since taking office, President Trump has advanced free, fair, and reciprocal trade deals that protect American workers, ending decades of destructive trade policies.
  • Days after taking office, the President withdrew the United States from the Trans-Pacific Partnership negotiations and agreement.
  • President Trump’s Administration is working to defend American intellectual property from China’s unfair practices through a range of actions.
  • The President improved the KORUS trade agreement with the Republic of Korea, which will allow more U.S. automobile exports to South Korea with lower tariffs and increase U.S. pharmaceutical access to South Korea.
  • American agriculture has gained access to new markets under President Trump.

AMERICA IS WINNING ON THE WORLD STAGE: President Trump has re-asserted American leadership on the world stage and is achieving results for the American people.

  • President Trump followed through on his promise to move the U.S. Embassy in Israel to Jerusalem.
  • President Trump ordered an end to United States participation in the horrible Iran deal and immediately began the process of re-imposing sanctions that had been lifted or waived.
  • The President has taken action to confront aggression by Iran and its proxies.
  • The Department of the Treasury has issued a range of sanctions targeting Iranian activities and entities, including the Islamic Revolutionary Guard Corps-Qods Force.
  • Under President Trump, the United States has led an unprecedented global campaign to achieve the peaceful denuclearization of the Korean peninsula.
  • President Trump’s leadership has contributed to the return of 17 Americans held overseas.
  • In May 2018 alone, Venezuela released one American and North Korea released three Americans who came home to the United States.
  • The President has secured historic increases in defense funding in order to rebuild our Nation’s military with the resources they need, after years of harmful sequester.
  • President Trump signed legislation to provide $700 billion in defense spending for fiscal year (FY) 2018 and $716 billion for FY 2019.
  • The United States has worked with international allies to decimate ISIS.
  • President Trump ordered strikes against Syria in response to the regime’s use of chemical weapons in April 2017 and April 2018.
  • The Trump Administration has imposed a range of sanctions on the Maduro dictatorship in Venezuela, including sanctions targeting Maduro and other senior government officials.

AMERICA’S COMMUNITIES ARE SAFER AND MORE SECURE: President Trump has worked to secure our borders, enforce our immigration laws, and protect the safety and security of American communities.

  • Despite limited resources and obstruction from Congress, President Trump has worked to take control of our border and enforce our immigration laws.
  • President Trump has called on Congress to provide the resources needed to secure our borders and close loopholes that prevent immigration laws from being fully enforced.
  • President Trump authorized the deployment of the National Guard to help secure our borders.
  • President Trump’s Administration has carried out immigration enforcement efforts based on the rule of law.
  • From the start of President Trump’s Administration to the end of FY 2017, U.S. Immigration and Customs Enforcement (ICE) Enforcement and Removal Operations (ERO) made 110,568 arrests of illegal aliens.
  • Arrests made in this timeframe represented a 42 percent increase from the same timeframe in FY 2016.
  • Of the 110,568 arrests made, 92 percent had a criminal conviction, pending criminal charge, were an ICE fugitive, or had a reinstated final order of removal.
  • President Trump has made clear that his Administration will continue to combat the threat of MS-13 in order to protect communities from the horrendous violence the gang has spread.
  • In 2017, the Department of Justice worked with partners in Central America to file criminal charges against more than 4,000 members of MS-13.
  • The Trump Administration has cracked down on the import and distribution of illegal drugs in order to stop them from reaching our communities and causing even more devastation.
  • As of April 2018, U.S. Border Patrol has seized 284 pounds of fentanyl in FY 2018, already surpassing the total of 181 pounds seized in FY 2017.
  • The President has launched a nationwide effort to fight the opioid crisis, which has devastated communities across America.
  • The President’s Opioid Initiative seeks to reduce drug demand, cut off the flow of illicit drugs, and save lives by expanding treatment opportunities.
  • President Trump signed an omnibus spending bill which provides nearly $4 billion to address the opioid epidemic.
  • The bill included $1 billion for grants focused on the hardest hit States and Tribes and provided funding for a public-private research partnership on pain and addiction.

AMERICA’S GOVERNMENT IS MORE ACCOUNTABLE: Since taking office, President Trump has worked to ensure government is more accountable to the American people.

  • President Trump has confirmed the most circuit court judges of any President in their first year, and secured Justice Neil Gorsuch’s confirmation to the United States Supreme Court.
  • President Trump has signed legislation to bring more accountability to the Department of Veterans Affairs and provide our veterans with more choice in the care they receive.
  • President Trump signed the Department of Veterans Affairs Accountability and Whistleblower Protection Act of 2017, improving processes for addressing misconduct.
  • President Trump signed the VA Choice and Quality Employment Act into law, authorizing $2.1 billion in additional funds for the Veterans Choice Program.
  • President Trump successfully eliminated the penalty for Obamacare’s burdensome individual mandate.
  • The President’s Administration is seeking to provide more affordable health coverage and broader access to affordable alternatives to Obamacare plans.
  • President Trump has released a blueprint to lower drug prices for Americans.
  • President Trump has ensured that the religious liberties and conscience of Americans are protected and respected by the Federal government.
  • President Trump signed an Executive Order to protect the free speech and religious liberties of groups such as the Little Sisters of the Poor.
  • The Department of Justice issued guidance to all executive agencies on protecting religious liberty in federal programs.

Out of touch is the least of it

From my far-left Californian ex-mate who represents every aspect of the insanity projected by anyone with TDS. Which brings me to this, which is not at all sympathetic, but at least gets discussed: Trump turns North Korea into an attack on the Democrats claiming they are ‘rooting against us in our negotiations’. The sub-headings:

  • The president attacked Democrats in an early morning Twitter rant 
  • His attack was filled with his other grievances against Dems, saying they defend the violent El Salvadorian gang MS 13 and that they want to raise taxes
  • Democrats criticized Trump for cancelling the Singapore summit with North Korea with Nancy Pelosi saying President Kim Jong-Un was the ‘big winner’
  • ‘Dems have lost touch!’ Trump charged 
  • ‘Fox & Friends’ mentioned the Dem criticism on their Friday morning broadcast 

The actual tweet from the President:

Which part of any of this is untrue?

The North Koreans reply

The reply from the North Koreans.

N.K. NEWS

N. Korea says open to talks with U.S. anytime

2018/05/25 08:18

SEOUL, May 25 (Yonhap) — A top North Korean official said Friday his country is still willing to talk with the U.S., responding to President Donald Trump’s abrupt decision to pull out of his planned summit with the North’s leader.

Vice Foreign Minister Kim Kye-gwan issued a statement carried by the North’s state-run Korean Central News Agency (KCNA). It came hours after Trump announced the surprise decision to withdraw from his summit with Kim Jong-un set for June 12.

“We express our willingness to sit down face-to-face with the U.S. and resolve issues anytime and in any format,” he said in the statement.

Kim said the U.S.’ decision to cancel the upcoming talks demonstrates how serious the animosity between the North and the U.S. remains, which he said underlines the urgent need of a summit between the leaders of the two countries.

He said that the North Korean leader has made all-out efforts to prepare for the summit with the U.S., saying his meeting with Trump will serve as a good start.

“Despite all of this, the U.S.’ unilateral decision to scrap the talks causes us to reconsider whether all of the efforts and the path we have taken is really the right one or not,” he said.

Kim said that the North remains open to talks with the U.S.

“Our commitment to doing our best for the sake of peace and stability for the world and the Korean Peninsula remains unchanged, and we are open-minded in giving time and opportunity to the U.S.,” he said.

In a publicly disclosed letter to the North Korean leader, Trump said Thursday night (Seoul time) that the cancellation was due to the “tremendous anger and open hostility displayed in your most recent statement.”

Trump apparently pointed to the remarks by Choe Son-hui earlier Thursday in which the North’s vice foreign minister lambasted U.S. Vice President Mike Pence for bringing up a Libya-style approach in ridding the North of its nuclear program and threatened to walk away from the summit with the U.S.

“I want to conclude that President Trump’s stance on the North-U.S. summit does not meet the world’s desire for peace and stability both in the world and on the Korean Peninsula,” Kim said.

“The tremendous anger and open hostility that President Trump mentioned is just a backlash in response to a unilateral denuclearization being pushed ahead of the planned North-U.S summit,” he added.

kokobj@yna.co.kr

(END)

We still don’t know how this will end, but the fact remains that leaving any issue of importance in the hands of the left is such stupidity that only people on the left are that stupid. And there are apparently quite a lot of them, not one of whom has any useful suggestion on how to stop North Korea from possessing nuclear weapons.

I should also add this for additional detail: Kim’s boom or bust: North Korea responds to Trump’s call for ‘action’ with video they claim shows the demolition of a nuclear test site after urging U.S. to rethink summit cancellation, offering to meet ‘any time, any way’.