BURIED IN THE WEEDS....
… Trump announced a “trade deal” with the EU, and the pattern continues with lots of goals, targets, and promises with few specifics - except that American consumers will ultimately pay more for imported products. I read tons of articles and commentary from solid sources in Europe and US, so I begin this Bulletin with a breakdown of the various takes. … NYT: “The EU and the US agreed on Sunday to a broad-brush trade deal that sets a 15% tariff on most EU goods, including cars and pharmaceuticals, averting what could have become a painful trade war with a bloc that is the US’ single biggest source of imports. Trump said that the EU had agreed to purchase $750 billion of American energy, which Ursula von der Leyen, the president of the EU’s executive branch, told reporters would be spread out over 3 years.” … “Not all higher tariffs were eliminated. A senior US official said the 50% tariff the Trump admin had imposed on steel and aluminum globally was not part of the deal. Like many preliminary agreements Trump has announced, this one had few details. For some of the ‘deals’ that Trump reached, other govts have seemed to lack clarity on what exactly they agreed to, and it remains unclear which tariff rates will apply to which products as of Aug. 1.” … Patrick Anderson, CEO of Anderson Economic Group, said the deal for autos could lead to “a cost penalty of thousands of dollars per vehicle for numerous models assembled in the US that use foreign parts. How can the admin square a 15% tariff on cars from Europe and Japan, while manufacturers in the US, Canada and Mexico are laboring under 25% tariffs?” … Fox Business Analyst Charles Gasparino had Trump fans upset with his take on Fox & Friends: “The stuff they are buying from us they probably would have bought anyway. They’re cutting back on natural gas from Russia. They’re building out their military because of Russian expansionism. So they were going to do that anyway. And when you say we get 15%, true. But that means US consumers are paying 15% more too so it's kind of like a tax increase on US consumers.” … Irritated Fox host Brian Kilmeade: “What about the 50% tariff on EU steel and aluminum. How is that going to affect all of us? Gasparino: If we need to buy steel from them. It's going to cost us more. Again, put this in context. Every penny we get from them is being passed to the US consumer. Kilmeade: Not necessarily. Gasparino: Yes necessarily. Companies don't report to president. They report to shareholders and they have a fiduciary responsibility for profit margins and at some point and that point is coming. You can see it. There are price increases on certain goods. Let’s be real clear here. Tariffs cost, they’re a tax. That tax often gets passed on to consumers.” … Gasparino: “You do have to ask yourself why the rush to get a deal like this done? They didn’t agree to that much for us. Why did they go from DEFCON 1 to this? One reason is that there is a federal appeals court that is ruling on Trump’s use of the emergency power to impose tariffs and that court could rule against him. If it rules against him, the whole tariff scheme is up in the air.” … Former Trump economic advisor Stephen Moore: ”We’re a little queasy about the Trump argument that tariffs don’t filter down like sand in an hourglass to consumer prices. Sure, some of the cost will be borne by the importers. But businesses with thin profit margins can’t eat the whole extra cost of taxes imposed on them.” … Denmark MP Rasmus Jarlov: “There is nothing to celebrate. Moving from average tariffs of less than 2% on trade between the US and Europe to 15% under today’s deal will inevitably lead to inflation. Almost everything will become more expensive in both Europe and the US, and we will all be worse off. The economic illiteracy in the White House is doing serious damage to the West.” … Trump held a press conference today with UK PM Keir Starmer and said the only reason he hasn’t made 200 trade deals yet is because he doesn’t have time to talk to every country: “You have 200 countries—more. People don't know that. You have a lot of countries. I don't want to sit down with 200 people. So we’re going to be setting a tariff for the rest of the world. You can’t make 200 separate deals.” … Q - You said you were going to set a tariff for the world. What percent will that be? Trump: “I would say it will in the 15-20% range.” … Trump then unveiled to the world his idiotic energy policy: “Wind is a disaster. You can take 1,000 times more than energy out of a hole in the ground this big. It’s called oil and gas. This big that nobody would even see. You can take 1,000 times more power because the wind is intermittent, it doesn't work. We won’t allow it.” … Starmer interjected to make it clear the UK wanted to operate in the 21st century: “We believe in a mix. Oil and gas will be with us for a very long time. And that will be part of the mix but also wind, solar, increasingly nuclear as we go forward.” … Clyde Russell, Reuters Asia Commodities and Energy Analyst: “Putting together the value of EU imports of US crude oil, LNG and metallurgical coal gives a 2024 total of around $64 billion. This is about 26% of the $250 billion the EU is supposed to spend on US energy a year under the framework agreement. The scale of the delusion probably exceeds what Trump and China agreed in their trade deal in 2019, where China was supposed to buy $200 billion of additional US energy by the end of 2021.” (Which never happened). … Russell: “It's clear that the commitment to buy $250 billion in US energy is completely unrealistic and unachievable. This is a delusional level of imports that the EU has virtually no chance of meeting, and one that US producers would also struggle to supply.” … Analysts speculate that von der Leyen agreed to the deal knowing that it could never work in practice and that the EU will not be obliged to meet the $250 billion target. In the meantime, Brussels will prolong the talks, try and avoid penalties, and wait for the midterm elections next year when the Republics, and Trump, could lose their majority in Congress. …. Russell: “Run down the clock, talk nice, and hope the next US president is easier to deal with.” … Janis Kluge, German Institute for Intl and Security Affairs: “By the way, you can forget about the $750 billion and the $600 billion. That's just window-dressing for Trump and will not change anything in practice. This type of trickery (pioneered by the Saudis and Japan) works.” … Francois Valentin, conservative analyst on European politics: “A few random thoughts on the deal: After a ‘happy globalization’ phase, the EU risks entering ‘happy vassalisation’ phase. The US went from being a ‘benign’ liege lord to a much more aggressive one. And yet for the political embarrassment it remains to be seen if this all too bad economically for Europe. 15% is bad but I suspect a large part will be paid by US consumers due to inelasticity. Alternative global producers are also tariffed anyways.” … Valentin: “Trump loves his ‘old’ US industries. What is he excited for? For EU consumers to buy pickups and SUVs. Really not the industries of the 21st century. I highly doubt there's a massive market for these oversized and costly monstertrucks. Speaking of which, the industries of the 21st century have a lot of carve outs, like semiconductors, chips. The devil is in the details. This is only a political agreement, the multi-billion stuff on energy and weapons I'm curious to see in practice because the EU can't impose member-states to buy US energy or guns.” … Aslak Berg, Center for European Reform: “US domestic manufacturing has little capacity to replace EU exports. And if they did, they face disadvantages: US auto producers have to pay 25% for parts from Mexico and Canada, and face higher steel and aluminum prices due to 50% tariffs. They'll be at a disadvantage. As for the commitments on investment, energy and weapons purchases they'll have little effect (and the EU has little power to direct these things in any case). As for weapons and energy purchases, these are in line with current policies of rearmament and a shift away from Russian gas.” … Berg: “The amounts are substantial, but we shouldn't go in the mercantilist trap and say that purchasing things we need from the US is a defeat. Ultimately, the real test of this deal is whether it sticks or if Trump will come back to the trough with new demands, e.g. on tech regulation or other issues. The details aren't clear either, as we know from the Japan and UK 'deals' so we might see issues there as well things are ironed out.” TRUMP: UNFIT TO LEAD & INCOMPETENT! … Trump was asked about his previous announcement that he’s going to sanction Russia with secondary tariffs in 50 days: “I'm disappointed in President Putin. I'm going to reduce that 50 days I gave him to a lesser number because I think I already know the answer what's going to happen. I'm not so interested in talking anymore. He talks, we have such respectful and nice conversations and people die the following night with a missile going into a town. I’m going to make a new deadline of 10 or 12 days from today. We don’t see any progress being made.” … So he’s saying pretty much two weeks. … Former Russian president and Putin crony Dmitry Medvedev: “Trump's playing the ultimatum game with Russia: 50 days or 10. He should remember 2 things: 1. Russia isn't Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country.” … Sen. Chris Murphy (D-CT): “The more we learn about the US-Japan ‘trade deal’, the more we learn there is no deal. Trump rushed out an ‘announcement’ after a 70 minute conversation with Japan's trade negotiator and the press dutifully reported a deal. There was no text and there is a widening disagreement on what the terms are. The most significant claim Trump made in the ‘announcement’ was a $550 billion Japanese investment fund in the US where the US would split profits with Japan 90/10. Trump called it a ‘signing bonus’. ‘They gave us $550B up front, 100%’, he said.” … “Trump's 70 minute negotiation was with a desperate lame duck Japanese govt that just lost control of the parliament. It's not even clear PM Ishiba will be around to write the text of the agreement that doesn't exist. It could be that parts of the deal Trump announced eventually become formalized. But his big win for the US - a $550 billion Japanese ‘signing bonus’ to America - looks like fiction. Trump just made it up. But he got big headlines and Japan's denial got no headlines.” … Financial Times: “Trump’s admin has denied permission for Taiwan’s President Lai Ching-te to stop in NY en route to Central America, after China raised objections with Washington about the visit. Lai planned to transit the US in August en route to Paraguay, Guatemala and Belize, which recognise Taiwan as a country. But the US told Lai he could not visit NY on the way.” … “Lai’s office issued a statement saying he had no plans to travel overseas in the near future because Taiwan was recovering from a recent typhoon and Taipei was in talks with the US about tariffs. The people familiar with the matter said his decision not to travel came after he had been told he would not be allowed to visit NY. The WH’s decision will deepen concerns among Taiwan’s supporters in Washington that Trump is taking a softer stance on China as he pushes to hold a summit with President Xi.” … Sen. Andy Kim (D-NJ): “Denying President Lai a transit is a deeply concerning break with bipartisan precedent and sends a reckless signal to Beijing that our partnership with Taiwan is on the negotiating table. American leadership is now seen as deeply unreliable, with Trump’s fits and starts with Ukraine, NATO allies, and other key partners. I urge President Trump to reverse course and do what presidents of both parties have done and allow a transit, and ask my colleagues in Congress to join me in that call.” … WaPo: “Trump is increasingly frustrated with his admin’s handling of the furor around the Jeffrey Epstein files, concerned the saga’s unabated domination of the news is overshadowing his agenda. His exasperation follows weeks of missteps and no clear strategy among top officials who underestimated the outrage, especially from the president’s base, and hoped the country would forget about the unreleased Epstein files and move on, according to nearly a dozen people close to the situation.” … One source close to Trump: “This is a pretty substantial distraction. While many are trying to keep the unity, in many ways, the DOJ and the FBI are breaking at the seams. Many are wondering how sustainable this is going to be for all the parties involved — be it the FBI director or AG.” … Another source also explained why Trump hasn’t fired anyone over it: “He does not want to create a bigger spectacle by firing anyone.” … Former Reagan and Bush DOJ official Stephen Saltzburg: “They completely miscalculated the fever pitch to which they built this up. Now, they seem to be in full-bore panic mode, trying to change the subject and flailing in an effort to make sense of what makes no sense.” TRUMP HIRED THE SWAMP! JOE ROGAN IS BRAIN DEAD...WHO LISTENS? JUST RANTS & MANURE! … Joe Rogan: “The Epstein files are a line in the sand. We thought Trump was gonna come in and drain the swamp, we're gonna figure everything out. And now they're trying to gaslight you on that. Then Kash Patel is like, ‘we have a film, we're gonna release it.’ And then the film has a fucking minute missing from it. Do you think we're babies? What is this?” THE REST OF THE WORLD DOESN'T BELIEVE TRUMP'S DELUSIONS & LIES! DONNIE - THERE'S TOO MUCH EVIDENCE ABOUT YOU! THERE IS EVIDENCE THAT THE RIFT BETWEEN TRUMP & EPSTEIN WAS ABOUT A REAL ESTATE DEAL & RUSSIAN OLIGARCHS...SEE MICHAEL WOLFF! TRUMP'S LYING AGAIN! … Trump was asked what caused the rift between him and Epstein, and he gave a new version of the cover story: “For years I wouldn't talk to Jeffrey Epstein because he did something that was inappropriate. He hired help and I said don't ever do that again. He stole people that worked for me. So I warned him. But he did it again, so I threw him out. Persona non grata.” … Trump’s spokesman claimed previously that Trump ditched Epstein because he supposedly hit on a young girl at Mar-a-Lago and Trump didn’t like that. I guess there’s a new version now. … Trump: “I never went to the island. Bill Clinton went there supposedly 28 times. I never had the privilege of going to the island. I turned it down.” … Interesting choice of words. WHY WOULD TRUMP TURN DOWN GOING TO EPSTEIN'S ISLAND IF HE DIDN'T KNOW WHAT WAS GOING ON? … Even as he rages behind the scenes about it, Trump claimed today that the Epstein story is actually helping him: “My poll numbers are up 4.5 points since this ridiculous Epstein stuff.” … Just remember my old adage - every single time Trump uses a number it is a lie. 100% of the time. … JD Vance was asked today what reasons could justify the govt shielding the Epstein client list from the public: “We’re not shielding anything. Trump has been incredibly transparent about that stuff and some of the stuff takes time. He wants full transparency.” … Trump filed a motion today in his lawsuit against WSJ over their publication of his birthday card to Epstein. He argued that he should be permitted to take an immediate deposition of Rupert Murdoch on an expedited basis before other discovery takes place, citing that he is 94 years old and “has suffered from multiple mental health issues.” … House Oversight Ranking Member Robert Garcia (D-CA) was asked on MSNBC if he was going to subpoena Steve Bannon to get the tapes of the 15 hours of interviews he did of Epstein for a documentary that was never released: “Absolutely.” … Rep. Greg Steube (R-FL) was asked if the House Intel Committee will subpoena the CIA to find out whether Epstein was working for a foreign govt: “We can request that as a member of the Intel committee. The Chairman has to make it happen. I support getting all of the info. We represent the American people and I’m on the Intel committee. I would assume the FBI is working with the CIA on this, but that is certainly something we can request.” When something happens suddenly like Trump’s ‘trade deal’ with the EU, I really try to grind to put the facts together since you can never accept anything the Trump admin says at face value. Thankfully I have some really great international sources I read and follow regularly, and increasingly their news about our country is a lot more accurate than what we get here. I’m confident that daily readers of this Bulletin are armed with sufficient facts to win any argument with a MAGA moron. If you missed yesterday’s Bulletin, you can find it here. … Ghislaine Maxwell’s lawyer David Markus issued a statement about her pending petition to the Supreme Court: “No one is above the law—not even the Southern District of NY. Our govt made a deal, and it must honor it. The US cannot promise immunity with one hand in FL and prosecute with the other in NY. President Trump built his legacy in part on the power of a deal—and surely he would agree that when the US gives its word, it must stand by it. We are appealing not only to the Supreme Court but to the President himself to recognize how profoundly unjust it is to scapegoat Maxwell for Epstein’s crimes, especially when the govt promised she would not be prosecuted.” … Maxwell’s appeal argues that she should be covered under the plea agreement Epstein entered into with the Southern District of FL where he received immunity as part of the deal. The appellate court in NY ruled that she was not covered by that deal and even if she was it would not be binding on the fed court in NY. Now her attorney is appealing directly to Trump to take that into account - either for a pardon, commutation, or just to get DOJ not to oppose her appeal. … Elon Musk continues to taunt Trump on X over Epstein: … CNN’s Aaron Blake on Trump and Fox’s Epstein distraction attempt: “The Tulsi Gabbard and Trump allegations about Obama and others manipulating Russia intel are all over the place on Fox News. But one place it didn't come up this weekend: When Lara Trump interviewed Marco Rubio - the guy whose Senate report bolstered that Russia intel.” … WSJ-LAS VEGAS: “Workers in Las Vegas have a problem, and it is one that ‘no tax on tips’ can’t fix: The tourism sector is struggling. Visits are down this year, reflecting uncertainty in the US economy, the sting of inflation and fewer Canadian travelers. On the Strip and in the downtown casino district, bartenders, showgirls and blackjack dealers say their tip income has shriveled since last year, in some cases by more than half.” … Tattoo artist Charlie Mungo said he used to make $3,000-$6,000 a month doing Vegas-themed tattoos, but now his income is down to $1,500 a month. He said Canadians used to be about 30% of his customers but never sees them anymore: “No tax on tips, that’s a rad thing. But it doesn’t really do us much good if there isn’t any people to get tips from. We’re all starting to freak out.” … “Visits to Vegas in the first 5 months of the year were down 6.5% compared with the same period last year. Foot traffic on the Strip is also lower. Hotel occupancy fell by 14.6% in June compared with June 2024 and revenue per available hotel room fell by 19.2%.” … Patrick De Haan with Gas Buddy: “The national average price of gasoline rose 9 cents a gallon over the last week to $3.10 a gallon.” So not $1.95 like Trump says apparently. … NYT: “Two of Israel’s best-known human rights groups said Monday that Israel was committing genocide against Palestinians in Gaza, adding fuel to a passionately fought international debate over whether the death and destruction there have crossed a moral red line. The two groups were B’Tselem and Physicians for Human Rights - Israel. Their announcement was the first time major Israeli rights groups have publicly concluded that the Gaza war is a genocide, an assessment previously reached by some organizations like Amnesty International.” … “In a report titled ‘Our Genocide,’ B’Tselem cited the killing of tens of thousands of Palestinians in Gaza; the razing of huge areas of Palestinian cities; the forced displacement of nearly all of Gaza’s two million people; the restriction of food and other vital supplies. It called their country’s campaign a “coordinated action to intentionally destroy Palestinian society in the Gaza Strip. In other words: Israel is committing genocide against Palestinians in the Gaza Strip.” … The Telegraph: “Rob Feiner, a captain in Israel’s 933rd Nahal Brigade, is refusing to report for another stint of reserve duty and a potential deployment to Gaza, in disgust at the ongoing war that has killed more than 59,000 Palestinians, according to the Hamas-run health ministry. Sentenced to 25 days in jail by Israel for refusing to serve, Feiner is believed to be part of a growing wave of young Israeli reservists who feel they can no longer participate in their country’s war in Gaza. Feiner’s opinion on the futility of the conflict appears to be shared by a rising number of serving and retired senior officers who are turning against Netanyahu’s war.” … Feiner: “When the bombing of Gaza started again, it became clear to me that our government wants to make this war as long as they can – they don’t want to end it. I knew then I can’t go back to serving in this war.” … “Gen Assaf Orion, the former head of strategic planning at the IDF, said while there were clear strategic goals in the Israel campaigns against Iran and Hezbollah in Lebanon, there was no longer any clear military imperative for the continuation of military operations in Gaza: “In Gaza, I suspect that the strategic train of ends, ways and means was kidnapped by ulterior motives. I think the main reason for a prolonged war in Gaza is political expediency.” … "Eran Etzion, former deputy head of Israel’s national security council: “By now it has long been clear to most Israelis that the main reason the Gaza campaign lingers on is because of Netanyahu’s political, personal and judicial interests, and he needs the war to go on in order to sustain and even enhance his grip on power. That’s the main reason. It has nothing to do with Hamas and everything to do with Netanyahu.” … Former NC Gov Roy Cooper officially announced for Senate: “It wasn’t always this hard because being in the middle class meant something. You could afford a home, your job paid enough to cover the basics. The biggest corps and richest Americans have grabbed unimaginable wealth at your expense - it’s time for that to change. I never wanted to go to Washington, but these are not ordinary times and I’ve had enough. I’ve decided I want to serve as your US Senator. I love NC and I want you to be with us. I can’t wait to see you out there.” … Cooper has never lost an election in NC since he first ran in 1987. He is an incredible fundraiser. Cooper has won statewide office every presidential election year since 2000 - even when the Democratic nominee for president at the top of the ticket lost the state 5 out 6 times. This is a home run for Democrats. ***GEORGIA: A RACE TO WATCH & SUPPORT! GEORGIA RESIDENTS ARE ENTITLED TO BETTER GOVERNANCE THAT THEY HAVE HAD IN THE PAST...REPUBLICANS HAVE FAILED GEORGIA WITH WEALTHY WALL STREETERS...AND PROMOTING BRAIN DANAGED HERSCHEL WALKER A TEXAS RESIDENT WITH LOTS OF BAGGAGE & AN EMBARRASSING IMPAIRMENT THAT IN THEIR HASTE REPUBLICANS IGNORED....NOW A FOOTBALL COACH? GEORGIA: YOU DESERVE THE BEST CANDIDATES TO SUPPORT YOUR INTERESTS.... … AJC reporter Greg Bluestein on Rep. Mike Collins’ announcement he is running for Senate against Jon Ossoff: “His long-expected entrance came just days after Gov. Brian Kemp dramatically intervened in the race, privately telling Collins and two other contenders he would be endorsing his longtime friend, former football coach Derek Dooley. Now the race appears headed for a 3-way GOP brawl between unlikely rivals: Collins, a no-holds-barred MAGA loyalist; Rep. Buddy Carter, a longtime coastal lawmaker with deep pockets; and Dooley, a political newcomer expected to soon enter the fray.” … In his campaign launch video, Collins misspelled GA as ‘Georiga’. He also called Ossoff a “trust fund baby”. While Collins was criticizing Ossoff for inheriting wealth, he failed to mention that his trucking business was started by his grandfather many decades ago, which Collins then inherited from his father. … Rep. Nancy Mace (R-SC) was back on Fox teasing a run for governor of SC, which she has posted about every single day for months on social media: “I believe I may be forced to run for governor because I cannot watch my beautiful red state of South Carolina go woke. It gone woke over the last couple of years.” … I’m not sure Republican Gov. of SC Henry McMaster has ever been called woke before. Leave it to Nancy to be the first. … Mace also talked about MAGA’s favorite porn videos in 2025: “One of my favorite things to watch on YouTube these days are the court hearings where illegals are in court and ICE shows up to drag them out of court and deport them. I can think of nothing more American.” … AP: “A chief architect of Project 2025, Paul Dans, is launching a Republican primary challenge to Sen. Lindsey Graham in SC, joining a crowded field that will test the loyalties of President Trump and his MAGA movement in next year’s midterm election. Dans told AP the Trump admin’s federal workforce reductions and cuts to federal programs are what he had hoped for in drafting Project 2025. But he said there’s ‘more work to do,’ particularly in the Senate.” … Dans: “What we’ve done with Project 2025 is really change the game in terms of closing the door on the progressive era. If you look at where the chokepoint is, it’s the US Senate. That’s the headwaters of the swamp. It’s time to show Lindsey Graham the door.” … Reuters: “Under a broiling AL sky a frustrated Robby Robertson, a construction site superintendent, surveys an 84,000 square foot, mostly built recreation center close to the Gulf coast port city of Mobile. The site is eerily quiet. Last month, the $20 million project was on track for on-time completion by Nov 1. Now Robertson says he is looking at a 3-week delay after about half of his workers - scared by an ICE raid on a job site in FL - have stayed away.” … Robertson said his company is facing potentially $84,000 in extra costs for the delays, under a "liquidated damages" clause of $4,000 for every day the project runs beyond its November 1 deadline: "I am a Trump supporter, but I just don't think the raids is the answer.” … Jim Tobin, CEO of the National Association of Home Builders: "The threats and the reporting of raids have caused workers to not show up at job sites, just whole crews for fear of a raid." … Of the roughly 11 million people in the US illegally, about 1.4 million work in construction - more than any other industry. … AL contractor Tim Harrison: "The contractor world is full of Republicans. I'm not anti-ICE. We're supportive of what the president is trying to do. But the reality of it is our industry has to have the Hispanic immigrant-based workers in it." … Right-wing podcaster Charlie Kirk made his guest host debut on Fox & Friends and was asked by another host about his mantra for years that young people should not go to college: "You can get the same wisdom and the same teaching free and accessible online, listening to podcasts, listening to long YouTube form videos. If you listen to Joe Rogan's podcast, you're going to actually learn a lot more about Roman history, a lot more about Western civilization, than if you were stuck in some sort of sociology class at UMass.” … Kirk did not need to go to college because he had an old rich sugar daddy who liked him (for some reason) and helped him start his business with a bunch of cash. Must be nice. Lots of the rest of us poor folk had to work our way through college. Joe Rogan didn’t have his podcast back then, so I guess we didn’t have that option as an alternative though. |


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