The financial markets are again showing huge losses, led this time by Apple’s surprise earnings warning. Apple’s stock dropped by as much as 10 percent on Thursday, and currently the DOW is down nearly 600 points.
President Donald Trump‘s trade war with China is causing massive problems for companies that do business in that country, and now the White House is finally admitting there’s a problem.
“Trump’s trade war with China will cause ‘a heck of a lot of’ companies to join Apple Inc. in announcing lower than expected earnings, the chairman of the White House Council of Economic Advisers said,” Bloomberg News has just reported.
Here’s the video:
With the Dow down 500+ points…A major warning about corporate earnings from @WhiteHouseCEA who just told me “a heck of a lot of U.S. companies that have sales in China are going to be watching their earnings being downgraded…until we get a deal with China.” WATCH: pic.twitter.com/JiClOpaHso
— Poppy Harlow (@PoppyHarlowCNN) January 3, 2019
The chairman of the White House Council of Economic Advisers, Kevin Hassett, told CNN Thursday, “The Chinese economy is slowing in a way that I haven’t seen in a decade.”
Almost a year ago Trump bragged that trade wars are “easy to win,” which is false – there are no winners in a trade war.
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
The markets have proven him wrong.
Enjoy this piece?
… then let us make a small request. The New Civil Rights Movement depends on readers like you to meet our ongoing expenses and continue producing quality progressive journalism. Three Silicon Valley giants consume 70 percent of all online advertising dollars, so we need your help to continue doing what we do.
NCRM is independent. You won’t find mainstream media bias here. From unflinching coverage of religious extremism, to spotlighting efforts to roll back our rights, NCRM continues to speak truth to power. America needs independent voices like NCRM to be sure no one is forgotten.
Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure NCRM remains independent long into the future. Support progressive journalism with a one-time contribution to NCRM, or click here to become a subscriber. Thank you. Click here to donate by check.
This Business Group Just Hosted Trump – and Hid Its Member List After Outrage Erupted Over His Racist Speech
The National Federation of Independent Business calls itself “the voice of small business” but it’s anything but. The NFIB is a secretive lobbying organization – the only business group that worked to oppose and repeal ObamaCare – and for years has opposed many forms of government regulation.
President Donald Trump addressed the NFIB Tuesday afternoon to celebrate its 75th anniversary. Its members loudly applauded and cheered the president’s 51-minute racist and anti-immigrant speech during which he went off script – and off the rails – attacking every one of his favorite targets: Hillary Clinton, the “fake news” media, Robert Mueller’s Russia investigation, and even the undocumented immigrants whose children he is snatching and housing in internment camps.
During that part of his address, Trump called the young children – who have traveled thousands of miles in brutal heat and inhuman conditions to flee from countries labeled the murder capitals of the world – liars, and suggested they were crisis actors.
.@POTUS: “I’m going to go, very shortly, for authorization that when countries abuse us by sending their people up — not their best [people] — we’re not going to give any more aid to those countries. Why the hell should we? Why should we?” https://t.co/4NzISpVeUJ pic.twitter.com/8FeROsYOa9
— CBS News (@CBSNews) June 19, 2018
As Trump’s offensive speech went on and on, many on social media started trying to learn about the National Federation of Independent Business, and started tweeting about the secretive lobbying group.
Their website states “NFIB is nonprofit, nonpartisan, and member-driven.” But….under Policy Victories they list, “Judge Neil Gorsuch confirmed to be an Associate Justice of the Supreme Court of the United States.” I don’t know how both things can be true.
— KJ (@SullivansStrega) June 19, 2018
The NFIB is a conservative lobbying group funded by the Koch brothers. https://t.co/wP4xhXJJZo
— Matt Murphy (@MattMurph24) June 19, 2018
I’m used to Trump saying this kind of stuff. The fact that a room full of small businessmen convened by an established DC trade association cheered him for it was chilling. https://t.co/USvazLb5mq
— Matthew Miller (@matthewamiller) June 19, 2018
THREAD: Learn a little bit more about the @NFIB, the group applauding and laughing through Trump’s racist speech today. It’s a far-right lobby group, disguised as a “business group.” They spent $4.4M lobbying in 2017 alone — all (R) issues. Largest recipient of money? >>>
— Resisting in San Diego (@housesandme) June 19, 2018
And then some started asking for the group’s list of members:
Is there any way to get a list of the businesses from each state that participated in this conference? I’d like to know which ones in my state support this president and this abhorrent policy of separating families so I can arrange a boycott.@NFIB https://t.co/1KxNnJ8XqU
— N B Beamer #Demforce (@shareitarie10) June 19, 2018
And others began calling for a boycott:
— Carol Peters (@cvptexas) June 19, 2018
You’re applause of that sociopath made me sick to my stomach, and you’re cowardice in hiding your members makes it worse. If you want to stand for hatred and bigotry, have the decency to do it on your feet instead of on your knees.
— Chipper Crochet (@ChipperCrochet) June 19, 2018
Done with NFIB. YOUR audience laughed as TRUMP lied & mocked immigrant CHILDREN. Your reaction shows me who you REALLY R. YOU ARE NOT THE VOICE of my small business. YOU R THE VOICE OF HATRED, GREED & TORTURE. #BOYCOTTNFIB https://t.co/dJ9mTXBqaS
— Beth🌊 (@justabadazz) June 19, 2018
And then some tweeted out their member list:
— Teri Ahlm (@ahlmt) June 19, 2018
— susanelizabeth (@Imfrommichigan) June 19, 2018
So they quickly took it down:
The #NFIB took down its membership directory from its website after numerous Americans searched for lists of the member businesses that cheered Trump’s immigrant children incarceration policy. Here’s a NFIB leader you can reach out to to find out what who these people are. 👇🏿 https://t.co/qpsiP5EKfp
— BLACKSTEM (@BLACKSTEMUSA) June 19, 2018
What are you hiding @NFIB ? Why did you take your member list down? Don’t want to face the response to your racist members? The ones who cheered and applauded trump today with his divisive remarks?https://t.co/w9yxv39tUf
— muse⭐ (@msue1000) June 19, 2018
This is what the NFIB Member Directory page looks like now:
Manafort’s Tie and Belt Have Been Taken Away – CNN Panel Says He’s ‘Likely on Suicide Watch’
Former Trump campaign boss Paul Manafort is in jail tonight, and speculation has been that the 69-year-old is not doing well given he’s accustomed to a life of luxury.
His tie, wallet and belt have been handed back to his family.
Is it so bad that Manafort may try to kill himself rather than be forced to cooperate or die in jail? John Dean, former White House Counsel for Richard Nixon, said so on CNN Friday night.
“I suspect the prosecutors are hopeful that will happen. This will be a real shock for him tonight if he goes out into Montgomery County, to one of the county jails, or Alexandria—those are all awful places. I know because the number of the Watergate people were placed in them. The reason they don’t go to the D.C. jail, that is the true hell hole,” Dean said.
During a low period Manafort had previously suggested to his daughter that he might kill himself, Dean noted.
“They also know this man once told his daughter he was suicidal. He threatened to take his life. I assume they’re on watch for that as well,” he said.
White House correspondent April Ryan said that the fact they took his belt was a sign.
“When you go to prison or jail and they take your tie or belt, they are concerned about suicide,” she said.
- 'NO SHAME'2 days ago
‘You Singlehandedly Blocked the Emmett Till Antilynching Act’: Rand Paul Scorched Over His MLK ‘Commemoration’
- WTH?2 days ago
Lara Trump Thinks Microsoft Office Assistant ‘Clippy’ Is a Real Person Spying on Everything She Writes
- COMMENTARY1 day ago
Legal Experts Blast ‘Jerk Gorsuch’ for Refusing to Wear a Mask – Forcing Sotomayor to Stay in Chambers
- 'WHAT'S THE NEXT LINE?'2 days ago
‘Performative Drivel’: Marco Rubio Mocked and Schooled After Taking MLK Quote Out of Context
- RIGHT WING EXTREMISM1 day ago
Former Top FBI Official: ‘Concerning’ Ginni Thomas Signed Letter Saying Jan. 6 Participants ‘Have Done Nothing Wrong’
- 'STANDING ALONE'1 day ago
Top Democratic Donor Groups Pulling Endorsements – and Funding – From Sinema and Manchin Over Filibuster
- CRIME1 day ago
‘Very Ominous Development’: Legal Experts Explain Matt Gaetz Ex-Girlfriend’s Deal Could Mean a Lot of Trouble
- PARTNERING WITH HATE AND ANTI-IMMIGRANT GROUPS2 days ago
‘Unprecedented’: Trump Tried to ‘Exert Extreme Partisan Influence Over the Census Bureau’ Docs Reveal