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‘Drill Baby Drill' and Other Economic Delusions

‘Drill Baby Drill' and Other Economic Delusions

Bloomberg15-04-2025

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I'm Jonathan Levin and this is Bloomberg Opinion Today, a luxurious collection of Bloomberg Opinion's opinions. Sign up here.
A few months back, the buzz was that Donald Trump's second presidency would generate boom-like conditions across the US economy. Booming consumption! Booming energy production! Booming financial markets!
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Donald Trump Authorizes Officials to Take 'Action Necessary to Liberate' LA
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Donald Trump Authorizes Officials to Take 'Action Necessary to Liberate' LA

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump says he has authorized officials to resolve "lawless riots" in Los Angeles amid the outbreak of violence between protesters and law enforcement Sunday. In a post on Truth Social, Trump says Homeland Security Kristi Noem, Secretary of Defense Pete Hegseth, and Attorney General Pam Bondi have all been directed "to take all such action necessary to liberate Los Angeles from the Migrant Invasion, and put an end to these Migrant riots." "A once great American City, Los Angeles, has been invaded and occupied by Illegal Aliens and Criminals," Trump said in the post. "Now violent, insurrectionist mobs are swarming and attacking our Federal Agents to try and stop our deportation operations — But these lawless riots only strengthen our resolve." He ended it by saying "Order will be restored, the Illegals will be expelled, and Los Angeles will be set free. Thank you for your attention to this matter!" The message comes amid a third day of demonstrations surrounding the enforcement operations of U.S. Immigrations and Custom Enforcement (ICE) in the city. Multiple videos on social media showed protesters clashing with law enforcement, in various locations including Paramount, California, where people were seen throwing rocks, and being hit by rubber bullets during an hours-long confrontation. Early Sunday, Los Angeles Police Department (LAPD) said there were three demonstrations that were peaceful. But by 3 p.m. PT, LAPD said there were arrests being made following a dispersal order and an unlawful assembly being declared at one site. The City of Los Angeles remains on tactical alert, according to the LAPD. This is a breaking news story and will be updated as more information becomes available.

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