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Posts Tagged ‘Trump’

The Trump Presidency Turns Deadly

Posted by hkarner - 5. April 2020

Elizabeth Drew is a Washington-based journalist and the author, most recently, of Washington Journal: Reporting Watergate and Richard Nixon’s Downfall.

Harry Truman famously had a sign on his White House desk that read, “The buck stops here”: ultimate responsibility for the country’s welfare rests with the president. Now contrast that with how the current occupant of the Oval Office has handled the COVID-19 pandemic.

WASHINGTON, DC – For the first three years of his administration, US President Donald Trump focused on consolidating power. And yet, as the United States approached its greatest domestic peril in a century, he refused to use that power. Instead, as a deadly coronavirus was poised to invade the country, the president opted for denial and delay.

But toward the end of March, Trump’s science advisers presented him with evidence from a voluntary 15-day experiment indicating that where social distancing measures were taken seriously, the disease spread less rapidly than in places where such restrictions were not observed. At the time, the number of COVID-19 infections was over 100,000 and deaths exceeded 1,000. Science advisers’ models indicated that if people behaved perfectly, 100,000-240,000 US residents would die, and Trump’s political advisers told him that polls showed the public wanted to extend social distancing. For once, he took the sensible approach, extending the federal government’s recommendation of social distancing for another 30 days, until the end of April. Den Rest des Beitrags lesen »

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Was die Weltwirtschaft noch erwartet Corona-Krise – wir sind erst in Phase 2 Eine Meinungsmache

Posted by hkarner - 29. März 2020

von Daniel Stelter, Manager Magazin

Am Donnerstag zog die EZB im Kampf gegen eine drohende Rezession eine weitere milliardenschwere Finanzspritze auf. Die Reaktion der Finanzmärkte war eindeutig: Zu wenig, zu zaghaft, ungenügend. Auf den freien Fall folgte am Freitag zumindest in den USA ein erster Erholungsversuch, denn auch US-Notenbank Fed und die US-Regierung stemmen sich nun mit milliardenschweren Hilfsprogrammen gegen die Krise. Doch ist das Schlimmste damit bereits überstanden?

Anlass, um den Ereignissen der vergangenen Wochen auf den Grund zu gehen. Und das Ergebnis der Analyse fällt ernüchternd aus: Wir befinden uns erst in Phase 2 einer vierstufigen Krise. Auf die Corona-Epidemie und die daraus folgende aktuelle Finanzkrise folgt ein deflationärer Schock für die Realwirtschaft, und am Ende steht die Frage, ob unser Geld- und Wirtschaftssystem wirklich noch funktioniert.

Phase 1: die Epidemie, die keine Krise werden musste Den Rest des Beitrags lesen »

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Foreseeable Unforeseeables

Posted by hkarner - 29. März 2020

Resuming after 6 days in  intensive care:

Date: 29‑03‑2020

Source: Project Syndicate by Jeffrey Frankel 

Jeffrey Frankel, Professor of Capital Formation and Growth at Harvard University, previously served as a member of President Bill Clinton’s Council of Economic Advisers. He is a research associate at the US National Bureau of Economic Research, where he is a member of the Business Cycle Dating Committee, the official US arbiter of recession and recovery.  

Contrary to what US President Donald Trump would like to believe, a pandemic like COVID‑19 was predicted as recently as last year. After being caught off guard by yet another catastrophe, one wonders when political leaders, markets, and average citizens will start to take risk seriously.

CAMBRIDGE – Events like the COVID‑19 pandemic, the US housing‑market crash of 2007‑2009, and the terrorist attacks of September 11, 2001, are often called “black swans.” The term is meant to suggest that no one could have seen them coming. But, in fact, these episodes each involved known unknowns, rather than what former US Secretary of Defense Donald Rumsfeld famously called “unknown unknowns.” Den Rest des Beitrags lesen »

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„This Crisis Will Spill Over and Result in a Disaster“

Posted by hkarner - 29. Februar 2020

Date: 28‑02‑2020

Source: DER SPIEGEL Interview Conducted by Tim Bartz

Economist Nouriel Roubini correctly predicted the 2008 financial crisis. Now, he believes that stock markets will plunge by 30 to 40 percent because of the coronavirus. And that Trump will lose his re‑election bid.

Economist Roubini: „The markets are completely delusional.“ 

Nouriel Roubini is one of the most prominent and enigmatic economists in the world. He correctly predicted the bursting of the U.S. housing bubble in addition to the 2008 financial crisis along with the ramifications of austerity measures for debt‑laden Greece. Roubini is famous for his daring prognostications and now, he has another one: He believes that coronavirus will lead to a global economic disaster and that U.S. President Donald Trump will not be re‑elected as a result.

DER SPIEGEL: How severe is the coronavirus outbreak for China and for the global economy?

Roubini: This crisis is much more severe for China and the rest of the world than investors have expected for four reasons: First, it is not an epidemic limited to China, but a global pandemic. Second, it is far from being over. This has massive consequences, but politicians don’t realize it.

DER SPIEGEL: What do you mean?

Roubini: Just look at your continent. Europe is afraid of closing its borders, which is a huge mistake. In 2016, in response to the refugee crisis, Schengen was effectively suspended, but this is even worse. The Italian borders should be closed as soon as possible. The situation is much worse than 1 million refugees coming to Europe.

DER SPIEGEL: What are your other two reasons?

Roubini: Everyone believes it’s going to be a V‑shaped recession, but people don’t know what they are talking about. They prefer to believe in miracles. It’s simple math: If the Chinese economy were to shrink by 2 percent in the first quarter, it would require growth of 8 percent in the final three quarters to reach the 6 percent annual growth rate that everyone had expected before the virus broke out. If growth is only 6 percent from the second quarter onwards, which is a more realistic scenario, we would see the Chinese economy only growing by 2.5 to 4 percent for the entire year. This rate would essentially mean a recession for China and a shock to the world. Den Rest des Beitrags lesen »

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Der 3. November 2020 – der Tag der Entscheidung für den Westen

Posted by hkarner - 28. Februar 2020

Joschka Fischer was German Foreign Minister and Vice Chancellor from 1998-2005, a term marked by Germany’s strong support for NATO’s intervention in Kosovo in 1999, followed by its opposition to the war in Iraq. Fischer entered electoral politics after participating in the anti-establishment protests of the 1960s and 1970s, and played a key role in founding Germany’s Green Party, which he led for almost two decades.

BERLIN – Das Jahr ist noch jung- und dennoch ist bereits heute seine Bedeutung abzusehen. Es wird ein Jahr der Weichenstellung, zumindest aus westlicher Sicht. Denn am 3. November 2020 findet die wichtigste Entscheidung des Jahres statt, die, soviel lässt sich bereits heute sagen, wahrhaft historische Bedeutung haben wird. An diesem ersten Dienstag im November wählen die USA ihren Präsidenten. 

Amerikanische Präsidentschaftswahlen waren und sind immer wichtig, weil dabei über die Führung der mächtigsten Nation für die Dauer von vier Jahren entschieden wird. Diesmal lautet aber die konkrete Frage, ob der amtierende Amtsinhaber, Donald Trump, wiedergewählt wird oder nicht, er also vier weitere Jahre erhalten wird, um die von Amerika seit den vierziger Jahren erfolgreich geschaffene liberale Weltordnung und deren Allianzen zugunsten eines engstirnigen Nationalismus weiter zu zerstören und am Ende gar die Demokratie und die Gewaltenteilung in den USA selbst zu gefährden. Ob er also das Mandat für vier weitere Jahre der Systemveränderung erhalten wird oder nicht. Den Rest des Beitrags lesen »

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Trump: “screw Amazon” out of the JEDI contract – backfires

Posted by hkarner - 16. Februar 2020

Date: 15‑02‑2020

Source: The Wall Street Journal

Subject: Federal Judge Halts Pentagon Cloud Contract

Decision is a win for Amazon and a blow for Microsoft

WASHINGTON—In a win for Amazon.com Inc., a federal judge ordered the Pentagon on Thursday to halt work on the massive JEDI cloud‑computing contract awarded to rival Microsoft Corp.

Judge Patricia Campbell‑Smith of the U.S. Court of Federal Claims issued a preliminary injunction to block the Pentagon from proceeding in response to a lawsuit from Amazon contending improper influence from President Trump.

Mr. Trump, a Republican, has blamed Amazon founder Jeff Bezos for unfavorable coverage of his administration in the Washington Post, which Mr. Bezos bought in 2013. The Post says its editorial decisions are independent. Den Rest des Beitrags lesen »

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Trump’s Worst Enemy

Posted by hkarner - 15. Februar 2020

Date: 14‑02‑2020

Source: The Wall Street Journal By The Editorial Board

He needs to stop tweeting about cases and let Barr do his job.

After his Senate impeachment acquittal, we wrote that President Trump’s history is that he can’t stand prosperity. Well, that was fast. The President’s relentless popping off this week about the sentencing of supporter Roger Stone has hurt himself, his Justice Department, and the proper understanding of executive power. That’s a notable trifecta of self‑destructive behavior even by his standards.

Mr. Trump handed another sword to his opponents when he fulminated on Twitter about the initial recommendation of a seven‑to‑nine year prison sentence for Mr. Stone. He is right that such a sentence would be excessive. Mr. Stone was convicted of lying to Congress, which often receives minimal jail time. His conviction for witness tampering was more serious but involved a faux‑macho threat (“prepare to die”) that even the witness said he didn’t take literally.

*** Den Rest des Beitrags lesen »

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Trump Wants to Double Spending on AI, Quantum Computing

Posted by hkarner - 13. Februar 2020

Date: 12‑02‑2020

Source: The Wall Street Journal

White House budget calls for annual spending of $2 billion on AI and $860 million on quantum within two years

U.S. Chief Technology Officer Michael Kratsios says the country faces a ‘global power competition’ for AI, quantum computing and other critical technologies.

The White House on Monday proposed roughly doubling nondefense research‑and‑development spending on artificial intelligence and quantum information sciences, citing fierce global competition, while cutting overall funding for R&D.

The proposal is part of President Trump’s $4.8 trillion federal budget for the fiscal year ending in September 2021. A White House budget isn’t binding; it signals an administration’s areas of focus for congressional budget negotiations in the year ahead.

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Amazon Seeks to Question Trump Over Pentagon Contract

Posted by hkarner - 12. Februar 2020

Date: 11‑02‑2020

Source: The Wall Street Journal

E‑commerce and technology giant says president steered huge cloud‑computing contract away from Amazon

The Defense Department said there were no external influences in awarding the pact, which is valued at as much as $10 billion over the next decade.

WASHINGTON— Amazon.com Inc. asked a judge to allow it to depose President Trump in the company’s legal battle to overturn a Pentagon decision awarding a huge cloud‑computing contract to rival Microsoft Corp.

The Amazon motion, made public Monday, says that Mr. Trump’s bias against Amazon founder and CEO Jeff Bezos “is a matter of public record. Even before taking office, President Trump campaigned on a promise that Amazon would ‘have problems’ if he became President.”

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Trump unbound

Posted by hkarner - 10. Februar 2020

Date: 07‑02‑2020

Source: The Economist: Lexington

Donald Trump is acquitted by the Senate, adored by his supporters and wholly unrepentant

In announcing her decision to vote to acquit Donald Trump this week, Susan Collins said she believed the president had learned a “pretty big lesson” from his impeachment. When next tempted to extort a foreign leader to frame a political rival, the senator from Maine predicted, he would be “much more cautious”. Another view is that, having established Congress’s inability to restrain him, because of the tribalism of Republicans such as Ms Collins, Mr Trump may feel even more emboldened to disregard any rule or convention that stands in the way of his interests. His third state‑of‑the‑union address, delivered to a packed House chamber on the eve of his acquittal on February 4th, offered evidence for that.

Unlike Bill Clinton, who expressed contrition during his mid‑impeachment sotu speech, Mr Trump did not mention his Ukraine scheme or Senate trial it occasioned—which ended in his acquittal on partisan lines the next day: Mitt Romney was the only Republican who voted to convict. Yet he had already repudiated Ms Collins, telling journalists he had nothing to learn, because his approach to President Volodymyr Zelensky was “perfect”. And his sotu performance underlined that he truly believes this.

For most of American history, the annual presidential report to Congress was delivered by letter, because of Thomas Jefferson’s fear that a live address might seem too kingly. Yet an elected despot, with fawning courtiers and freedom to mingle personal and public interests at will, is what Mr Trump aspires to be. It is what he maintains, in his claim to unbridled executive power and attacks on institutions that would constrain him, it means to be president. On the eve of his party’s final capitulation to Trumpism, his last pre‑election sotu was an enactment of that unAmerican fantasy. Den Rest des Beitrags lesen »

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