Politics 'He's losing his s—': Trump's advisers are increasingly worried about his mental state following days of erratic behavior
Sonam Sheth,Business Insider 1 hour 54 minutes ago
President Donald Trump's aides and confidants are increasingly worried about his mental state after days of erratic behavior and wild outbursts. "No one knows what to expect from him anymore," one former White House official, who spoke on the condition of anonymity to discuss internal conversations about the president, told Insider. "His mood changes from one minute to the next based on some headline or tweet, and the next thing you know his entire schedule gets tossed out the window because he's losing his s---."
Trump has spent the past several days fixated on his false claim that Alabama was going to be hit by Hurricane Dorian. He has also taken time to lob attacks at his perceived enemies, like the actress Debra Messing, former FBI Director James Comey, and the "LameStream media."
"He's deteriorating in plain sight," one Republican strategist who is in frequent contact with the White House told Insider on Friday. But one person who was close to Trump's legal team during the Russia investigation told Insider his public statements were "nothing compared to what he's like behind closed doors."
"He's like a bull seeing red," this person added. "There's just no getting through to him, and you can kiss your plans for the day goodbye because you're basically stuck looking after a 4-year-old now."
Trump was born with a silver spoon in his mouth and then given 2 million by his family to start a business. He promptly went into 6 corporate bankruptcies.
Trump has filed Chapter 11 bankruptcy for his companies six times. Three of the casino bankruptcies came during the recession of the early 1990s and the Gulf War, both of which contributed to hard times in Atlantic City, New Jersey's gambling facilities. He also entered a Manhattan hotel and two casino holding companies into bankruptcy. Chapter 11 bankruptcy allows companies to restructure or wipe away much of their debt to other companies, creditors, and shareholders while remaining in business but under the supervision of a bankruptcy court. Chapter 11 is often called "reorganization" because it allows the business to emerge from the process more efficient and on good terms with its creditors.
Here is the six Trump corporate bankruptcies. The details are a matter of public record and have been widely published by the news mediah.
People Can’t Believe How Easily Kim Jong Un ‘Played’ Donald Trump “Kim has ridden Trump like a pony.”
By Lee Moran
President Donald Trump is accused of being “played” by North Korean dictator Kim Jong Un as the Hermit Kingdom advances its weapons arsenal. Trump has repeatedly downplayed North Korea’s missile test launches in recent weeks. But The New York Times reported Monday that U.S. intelligence officials now think Trump’s stance has actually allowed Kim to “test missiles with greater range and maneuverability that could overwhelm American defenses in the region.”
I get the impression that some of you believe Trump never lies and all his business ventures were legal and profitable.
Judge finalizes $25 million Trump University settlement for students of 'sham university' Josh Hafner, USA TODAY Published 11:08 a.m. ET April 10, 2018 | Updated 12:30 p.m. ET April 10, 2018 A federal judge finalized the $25 million settlement between President Trump and students of his now shuttered Trump University on Monday, with New York's attorney general claiming “victims of Donald Trump’s fraudulent university will finally receive the relief they deserve.”
A U.S. judge officially approved a $25 million settlement to resolve a class action lawsuit that claimed fraud against Donald Trump and real estate seminars at the now-defunct Trump University. USA TODAY "This settlement marked a stunning reversal by President Trump, who for years refused to compensate the victims of his sham university," Schneiderman said in a statement.
Originally posted by vindicktive vinny
1k a year is really a small amount, its like $2.something a day.
people use toilet rolls that cost more than that per day.
The tariffs already enacted will eliminate 94,303 full-time equivalent jobs, according to an analysis by the Tax Foundation. If the Trump administration goes forward with its announced tariffs on automobiles and a wider range of Chinese imports, then it would lead to 292,648 fewer jobs, concludes the Tax Foundation. Retaliation from China, Canada and Europe would eliminate another 72,864 jobs. (And for those who think these tariffs are a good negotiating tactic note that the Chinese government has canceled trade talks with the U.S.) Overall, the Tax Foundation estimates the impact of enacted and announced tariffs from the Trump administration would cause employment in the United States to decline by 459,816.
With far less fanfare than the tax cuts President Donald Trump signed into law in 2017, a series of tax hikes goes into effect today on thousands of everyday items imported from China.
A new tariff of 15% will be added to the cost of more than 40% of all consumer products imported from China on Sept. 1. That amounts to about $109 billion worth of annual imports, according to research firm Panjiva. On Dec.15, the 15% tariff will be assessed on another $155 billion worth of consumer goods from China. At that point, there will be new Trump tariffs on virtually everything imported from China.
Trump has already imposed 25% tariffs on about $250 billion worth of Chinese imports, but those are mostly component products consumers never see. Those tariffs have led to some price increases, with some importers also taking a hit through lower profits. In some cases, Chinese suppliers have lowered their own prices to offset the tariff. Importers have also begun seeking new suppliers outside China, to avoid the tax.
A $1,000 annual tax on the typical US household JPMorgan Chase estimates the tariffs already in place and scheduled to go into effect will cost the typical American household more than $1,000 per year.
Trump participated in an effort to pay off Stormy Daniels, the adult-film actress who claimed to have had an extramarital affair with him years earlier. Authorities laid out a timeline of emails, text messages and phone calls – some involving Trump himself – that "concerned the need to prevent" Daniels from going public with her story.
Stormy Daniels' newest claims about the United States President Donald Trump. In her upcoming book Full Disclosure, Daniels has described the penis of Trump as "smaller than average" but "not freakishly small". Daniels compares it to Toadstool saying it's like "mushroom character in Mario Kart" (Kinopio).
Brazil winds up benefitting from Trumps idiocy while our farmers lose their competitive edge due to China's retaliatory tariff on farm goods like soybeans. US farmers lost a big market due to idiot Trump.
President Donald Trump’s trade war with China, until now mainly an abstraction for American consumers, is about to hit home.
Beginning Sunday, the U.S. government will begin collecting 15% tariffs on $112 billion in Chinese imports — items ranging from smartwatches and TVs to shoes, diapers, sporting goods and meat and dairy products. For the first time since Trump launched his trade war, American households face price increases because many U.S. companies say they’ll be forced to pass on to customers the higher prices they’ll pay on Chinese imports.
American consumers have so far been spared the worst of it: The Trump administration had left most everyday household items off its tariff list (valued at $250 billion in Chinese products so far) and instead targeted industrial goods.
US Debt to China, How Much It Is, Reasons Why, and What If China Sells Why China Is America's Biggest Banker
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By Kimberly Amadeo
Updated August 01, 2019 The U.S. debt to China is $1.11 trillion as of May 2019. That's 27% of the $4.1 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is owned by either the American people or by the U.S. government itself.
China has the greatest amount of U.S. debt held by a foreign country. Japan comes second at $1.10 trillion. It's followed the United Kingdom at $332 billion, Brazil at $306 and Ireland at $271 billion.
Long-term, China wants the yuan to replace the U.S. dollar as the world's global currency. China is also responding to accusations of manipulation. Most countries want their currency values to fall so they can win the global currency wars. Countries with lower currency values export more since their products cost less when sold in foreign countries.
Before February 2014, China had been strengthening the yuan to dollar conversion in response to U.S. pressure. But it reversed course when the dollar rose 25% in 2014 and 2015, creating an asset bubble. Since the yuan's exchange rate was fixed to the dollar, the increase dragged the yuan's value up with it. China had to manually lower the yuan's value to remain competitive with other emerging markets that had free-floating currencies.
How China Became One of America's Biggest Bankers China is more than happy to own almost a fifth of the U.S. debt owned by foreigners. Owning U.S. Treasury notes helps China's economy grow. It keeps the yuan weak relative to the dollar. As a result, Chinese exports are less expensive than U.S. products. China's highest priority is creating enough jobs for its 1.4 billion people.
The United States allowed China to become one of its biggest bankers because Americans enjoy low consumer prices. Selling debt to China pays for federal spending that spurs U.S. economic growth. It also keeps U.S. interest rates low. But China's ownership of the U.S. debt is shifting the economic balance of power in its favor.
Why China Owns So Much U.S. Debt China makes sure the yuan is always low relative to the U.S. dollar. Why? Part of its economic strategy is to keep its export prices competitive. It does this by holding the yuan at a fixed rate compared to a "currency basket" of which the majority is the dollar. When the dollar falls in value, the Chinese government uses dollars it has on hand to buy Treasuries. It receives these dollars from Chinese companies that receive them as payments for their exports. China's Treasury purchases increase demand for the dollar and thus its value.
China's position as America's largest banker gives it some political leverage. Now and then, China threatens to sell part of its debt holdings. It knows that if it does, U.S. interest rates would rise, slowing U.S economic growth. China often calls for a new global currency to replace the dollar, which is used in most international transactions. China does this whenever the United States allows the value of the dollar to drop. That makes the debt China holds less valuable.
What Happens If China Called in Its Debt Holdings China would not call in its debt all at once. If it did, the demand for the dollar would plummet. This dollar collapse would disrupt international markets even more than the 2008 financial crisis. China's economy would suffer along with everyone else's.
It's more likely that China would slowly begin selling off its Treasury holdings. Even when it just warns that it plans to do so, dollar demand starts to drop. That hurts China's competitiveness. As it raises its export prices, U.S. consumers would buy American products instead. China could only start this process if it further expands its exports to other Asian countries and increases domestic demand.
China's Debt-Holder Strategy Is Working China's low-cost competitive strategy worked. Its economy grew 10% annually for the three decades before the recession. As of 2018, it's growing at almost 7%, a more sustainable rate. China has become the largest economy in the world, outpacing the United States and the European Union. China also became the world's biggest exporter in 2010. China needs this growth to raise its low standard of living. Despite its threats, China will continue to be one of the world's largest holders of U.S. debt.