The world’s best recovery and a silent revolution In an economics column headlined, “Falling inflation, rising growth give U.S. the world’s best recovery,” David Lynch (no, not that one) writes in the Washington Post: Here, despite lingering consumer angst over inflation, the surprisingly strong economy is outperforming all of its major trading partners. Since 2020, the United States has powered through a once-in-a-century pandemic, the highest inflation in 40 years and fallout from two foreign wars. Now, after posting faster annual growth last year than in 2022, the U.S. economy is quashing fears of a new recession while offering lessons for future crisis-fighting. “The U.S. has really come out of this into a place of strength and is moving forward like covid never happened,” said Claudia Sahm, a former Federal Reserve economist who now runs an eponymous consulting firm. “We earned this; it wasn’t just a fluke.” It was no accident: On Friday, President Biden hailed fresh government data showing that annual inflation over the second half of 2023 fell back to the Federal Reserve’s 2 percent target.
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Say it ain’t so! The Daily Beast with a scoop: Always read the footnotes. That’s where former federal judge Barbara Jones, the court-appointed special monitor in Donald Trump’s New York business fraud case, just planted a financial bombshell that legal experts say suggests Trump lied knowingly and repeatedly on his federal financial disclosures about a major loan that never existed—and may have evaded taxes on $48 million in income. The detail came in a letter Jones filed on Friday to update New York Judge Arthur F. Engoron, first reported by The Messenger, on her efforts to get a full and clear accounting of the Trump Organization’s assets. The letter claims, yet again, that Trump and his company have filed statements containing inconsistencies and errors, but have been “cooperative” in the review process. But Jones tucked a major revelation into footnote 6, writing that a massive chunk of debt Trump has claimed to owe one of his own companies for years apparently does not exist, and never did.
It’s not looking good for the little Palin wannabe Lauren Boebert introduced herself to the new district she moved to to have an easier re-election and it didn’t go very well: Representative Lauren Boebert did not receive the warm welcome she was hoping for after switching Colorado districts, with her rivals accusing her of being a “carpetbagger” during the first primary debate. Boebert, who currently represents the Centennial State’s 3rd district, announced in December that she would run for election in the 4th district in 2024, instead. The decision comes after she was reelected in 2022 by such a narrow margin that the election nearly went to a recount. Her public image has taken a massive battering in recent months, as well. The far-right congresswoman attempted to defend her decision during the debate Thursday night, saying she made the switch because she wanted a “fresh start” for her family. “I am here to earn your vote. This is not a coronation,” she said.
What do Democrats offer instead? Donald “91 Counts” Trump will appeal the judgment, of course. It’s what he does as surely as “grab them.” He’ll appeal the $83.3 million judgment a Manhattan jury on Friday awarded E. Jean Carroll in her defamation case (The Guardian): Carroll will receive $18.3m in compensatory damages and $65m in punitive retribution. The former president is paying Carroll compensatory damages of $18.3m – $11m to fund a reputational repair campaign. The $7.3m is for the emotional harm caused by Trump’s 2019 public statements. Carroll and her legal team were beaming as they left court in a black SUV. They did not answer questions immediately after court let out. Moments after the decision was announced, Trump decried it as “absolutely ridiculous” on Truth Social, and said he would be filing an appeal. Naturally. Carroll’s attorney, Roberta Kaplan, told CNN’s Anderson Cooper she’d never seen someone as contemptuous of the U.S. justice system as Trump.
Who’s a civilian? The Atlantic: The International Court of Justice in The Hague today made an initial ruling, four weeks after an application from South Africa that accused Israel of committing genocide against Palestinians. The court ordered Israel to ensure that its military does not commit acts of genocide against Palestinians, to immediately improve humanitarian aid to Palestinians, and to prevent and punish genocidal incitement against Palestinians. However, the court stopped short of ordering Israel to end its military operations against Hamas, a nod to Israel’s right to respond in self-defense after the deadly Hamas attacks on Israel on October 7. South Africa had hoped the court would order such a cessation, in effect ruling in favor of an immediate cease-fire in Gaza. The court did also call for the immediate release of Israeli hostages held by Hamas. Given the dreadful toll of civilian deaths in Gaza, reportedly now topping 25,000, Israel should answer questions about its conduct. Every member of the United Nations’ 1948 Genocide Convention has an obligation to raise concerns if they have evidence that a group of people is at risk of genocide.
The Wall St. Journal breaks from the MAGA GOP which may have some effect on donors and, therefore, Republican politicians: The Wall Street Journal‘s editorial board is warning Republicans that they may pay a political price for letting Donald Trump rip up a deal to beef up border security measures and provide more aid to Ukraine. On Wednesday, Punchbowl News reported that Senate Minority Leader Mitch McConnell (R-KY) had told his colleagues that they were in a “quandary” because Trump opposes the deal and the caucus doesn’t want to do anything to “undermine” the likely Republican presidential nominee. The Journal submitted that following Trump’s command “would be a self-inflicted wound.” “President Biden would claim, with cause, that Republicans want border chaos as an election issue rather than solving the problem,” argued its editors. “Voter anger may over time move from Mr. Biden to the GOP, and the public will have a point.
She’s a terrible lawyer and a terrible actress And she’s just as nuts as he is: Following a massive verdict where a New York federal jury ordered Donald Trump to pay over $83 million in damages to E. Jean Carroll for making defamatory statements about her, Trump’s attorney, Alina Habba, exited the courtroom, on the brink of tears, and lambasted the court and the process for holding Donald Trump accountable. Watch the moment below: Following her meltdown, CNN’s Jake Tapper put her speech into perspective by talking about her “effectiveness” as Trump’s attorney. Watch for yourself: This is the woman who said she’d rather be pretty than smart because she can fake being smart. Actually, she can’t. She proved that with her embarrassing performance in federal court. She’s better hope that Trump keeps her on for the rest of his life and actually pays his bills because no one else in their right mind would hire this ridiculous person.
And that’s all that matters to the cult Dahlia Litwick with a fascinating observation about the Trump trials and the effect they are having in the political culture: Tacopina’s mistake in representing Trump’s interests in that first defamation suit lay in trying to win the case in the eyes of the law, which meant keeping Trump far away from the jurors. Trump has corrected for that by retaining Habba, who understands that whether Trump wins or loses matters less than ensuring that he feels like a winner, whatever the verdict. And what is winning if not getting to do the thing you were instructed, under penalty of sanctions, not to do? Habba knows that the outcome of these trials (how much money he has to pay) doesn’t matter nearly as much as establishing that Trump is as immune to law, judges, gag orders, and threats of sanctions as he is immune to reality, fact, science, and election results. She is the stage mother who comes to all his ballet recitals and T-ball games and tells him he’s a star and that everyone else is doping. And if a little lawyering happens on the side, well, that’s a solid day’s work.
It’s always 1987 in Trump’s world A big new economic plan on the way: Former president Donald Trump is weighing options for a major new economic attack on China if reelected, considering plans that are widely viewed as likely to spark a global trade war. Publicly, the GOP front-runner has endorsed downgrading China’s trade status with the United States — a move that would lead tariffs between the world’s two largest economies to skyrocket. Revoking China’s status as a “most favored nation” for trade — which is applied to almost all countries the United States trades with — could lead to federal tariffs on Chinese imports of more than 40 percent, according to one analysis. Trump has floated imposing a 10 percent tariff on nearly all $3 trillion in annual imports from all countries, including China. Privately, Trump has discussed with advisers the possibility of imposing a flat 60 percent tariff on all Chinese imports, according to three people familiar with the matter who spoke on the condition of anonymity to relay private conversations. All these options would lead to enormous disruptions to the U.S.