Two stories dominated the political headlines this week: Texas Democrats fleeing the state to halt the Republican-dominated legislature's efforts to redraw their U.S. House district lines to hand Republicans five more safe seats, and Donald Trump letting incredibly high tariffs begin against over 90 countries worldwide.

We'll get to them in a moment, but what's more interesting is the dog that didn't bark today. Russia was supposed to have a "10-day deadline" to end its invasion of Ukraine, and steep tariffs were supposed to be slapped on them if Vladimir Putin hadn't manage to do so by today. However, nary a headline is talking about the tariffs that were supposed to appear, because once again Putin played Trump like a violin.

Read Complete Article »

The world's economy changed today. The United States slapped new tariffs on dozens of countries early this morning, following through on Donald Trump's repeated threats to do so. What this is all going to do to world trade and the American economy is really anyone's guess at this point, but it's definitely going to have some sort of effect. American economic policy has returned to a high-tariff scenario not seen in over 90 years, which adds to the uncertainty about what happens next. Since there is no modern data for where we find ourselves now, nobody really knows what is going to happen. But there are a few things that we can intelligently guess about, the first of which is that prices are going to rise for American consumers on all kinds of goods, some of which will be mild price hikes and some of which will be huge:

Read Complete Article »

The entire financial world is holding its breath right now, waiting to see whether they can continue their trust in official U.S. government economic figures or not. Will things like the official unemployment rate and inflation rate become just another casualty in Donald Trump's war on the truth and his war on science, or will the professionals who produce these numbers (as opposed to the agency's leader) continue to do a good and honest job -- even with the threat of being fired now hanging over their heads? That is an unanswered question, but we will begin to see fairly quickly which direction the Bureau of Labor Statistics is going to head.

Read Complete Article »

Today's job numbers are bad. There's no getting around it. So Donald Trump reacted to this bad news by immediately firing the messenger. Which is really bad. "Banana republic" bad, in fact. We should all expect Trump to name the next head of the Bureau of Labor Statistics who will then dutifully report next month that "in August, America added eight million new jobs, thanks to our Dear Leader's brilliance." Because that is obviously what Trump wants to hear, instead of any proof that the fantasy world he inhabits in his head is rosier than the actual reality in which the rest of us live.

Read Complete Article »

The next few weeks could be fairly pivotal for the U.S. economy, with new monthly economic numbers being released telling us where we are now, while perhaps new tariff numbers will be imposed by the end of the week which may tell us where we are headed with the rest of the world. All of these outcomes hinge mostly on how Donald Trump's big trade war with the rest of the planet continues to play out.

Read Complete Article »

We have to begin today with an absurdity. It's been that kind of week....

This week, Donald Trump proved once again -- beyond the shadow of a doubt -- that his understanding of basic mathematics would be considered sub-par in any random fifth-grade math class in this country. Most 10-year-olds could spot Trump's glaring error, to put that another way.

Read Complete Article »

Lo and behold, Democrats have finally found a good political narrative, heading into their big summer break. For once, they have woven a few disparate political issues into one poignant, easy-to-understand storyline. And for once, they are (so far, at least) all singing in unison from the same songbook.

Read Complete Article »

Why is Russia so special to Donald Trump? Why does Trump always give Vladimir Putin a free pass? Those are questions that have long been asked (for various reasons), ever since Trump entered politics. But no matter what the actual answer is (many have speculated, but nobody truly knows, other than Trump himself), the fact that Trump treats Vladimir Putin's Russia with kid gloves is an incontrovertible fact.

The most recent glaring example of this is how Russia has (up to this point) been declared exempt from Trump's global trade war. Trump has been all over the map with his tariff threats, but one part of it has remained consistent: a 10 percent tariff on all countries, no matter what. This initially included every country Team Trump could find on a map -- including one solely populated by penguins -- but not Russia.

Read Complete Article »

Once again, this week was consumed by an out-of-control political fire that is engulfing Donald Trump, his attorney general, the F.B.I., and all of Trump's fellow Republicans in Congress. They built a political Ponzi scheme out of the Epstein files, and it has now completely collapsed around them.

Read Complete Article »

I should start out by clarifying that headline. When I say "Trump Is Getting Weaker," I am not referring to the news today that Donald Trump is suffering from problems with the veins in his legs and the bruising on his hands. I speak not of physical weakness, but instead of political weakness. And I'm going to mostly set aside the continuing internecine battle among Republicans over the Jeffrey Epstein files as well, since although the issue has been making headlines for weeks now, there is something much more interesting going on in the background. While Trump flails around desperately trying to somehow pin all the blame over the Epstein files cover-up on Democrats (which isn't convincing anyone), the widening schism within his own party has happened independently from some much larger trends. Democrats are gleefully trolling Trump and the Republicans over the Epstein files fiasco, but no matter what the upshot of it all turns out to be, the fact will remain that Trump is getting a whole lot weaker on pretty much every other issue under the sun. Sooner or later, Democrats should start making some political hay out of this weakness (assumably, after the Epstein files tempest blows over).

Read Complete Article »