The Third Way Is the Right Way for Democrats
What's most remarkable about the economic policies of Donald Trump's second term is the absence of effective opposition. The president's ambitions are radical and enormously consequential — nothing less than to wreck the global trading system, expand executive power far beyond prevailing norms and explode public borrowing. Four months in, this agenda is well advanced.
Where's the resistance? The courts are testing Trump's expansive claims to executive power, including its application to trade policy, but Congress might as well not exist. Until recently the party that commands majorities in both chambers advocated limited government, liberal trade and at least the pretense of fiscal discipline. In thrall to their new champion, Republicans have reversed themselves on every point.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Washington Post
13 minutes ago
- Washington Post
Russian strike kills 5, including 1 year old, hours after Trump calls Putin
KYIV, Ukraine — At least five people, including a one-year-old child, were killed in a Russian drone strike on the northern Ukrainian city of Pryluky overnight, regional governor Viacheslav Chaus said Thursday. The attack came just hours after Donald Trump spoke with Russian President Vladimir Putin . According to Trump, Putin 'very strongly' said that Russia will retaliate for Ukraine's weekend drone attacks on Russian military airfields . Six more people were wounded in the attack and have been hospitalized, Chaus said. According to him, six Shahed-type drones struck residential areas of Pryluky early Thursday morning, causing severe damage to residential buildings. Hours later, seventeen people were wounded in a Russian drone strike on the eastern Ukrainian city of Kharkiv early Thursday, including children, a pregnant woman, and a 93-year-old woman, regional head Oleh Syniehubov wrote on Telegram. At around 1:05 a.m., Shahed-type drones struck two apartment buildings in the city's Slobidskyi district, causing fires and destroying several private vehicles. 'By launching attacks while people sleep in their homes, the enemy once again confirms its tactic of insidious terror,' Syniehubov wrote on Telegram.
Business Insider
19 minutes ago
- Business Insider
Jefferies Bangs the Drum on Nvidia Stock
Nvidia (NASDAQ:NVDA) shares are back in rally mode. Since hitting a low in early April, following market turmoil sparked by Trump's sweeping tariff plans, the stock has soared 50%. The momentum was fueled by a strong Q1 report that confirmed Nvidia's ability to deliver, even with the China chip ban in effect. Confident Investing Starts Here: Wall Street is taking notice. Jefferies' Blayne Curtis, one of the top 1% of analysts on the Street, just added Nvidia to his elite list of Franchise Picks, signaling renewed conviction in the chipmaker's long-term upside. What's behind its inclusion? The 5-star analyst explained: 'We view NVDA as the dominant supplier of AI accelerators within the data center, an industry that is expanding rapidly due to the development and adoption of AI. The ramp of the co's next-generation Blackwell GPU platform is now fully underway, so GM should improve from the low-70% to mid-70% range throughout the year.' Moreover, sovereign AI is seeing a significant boost, with recent commitments from Saudi Arabia and the UAE to develop their AI infrastructure in partnership with Nvidia. What Curtis thinks the market seems to be overlooking is that Nvidia's revenue guide – roughly in line with Street expectations for next quarter – is actually a 'major positive.' The company managed to absorb around $8 billion in revenue headwinds from the H20 export restrictions to China, which was notably higher than the $5 to $6 billion the Street had anticipated. Looking ahead to the second half of the year, Curtis sees a 'favorable setup' as Blackwell Ultra ramps up and the company continues to see solid momentum in networking (NVLink and Spectrum-X). Curtis also expects a more seamless transition to Nvidia's next-generation Rubin platform, thanks to its architectural similarity to Blackwell. Potential catalysts to look forward to include stronger-than-expected demand for Blackwell, mainly fueled by rising CSP (cloud service provider) spending; further sovereign AI investments; the unveiling of a data center product tailored for China; and increased capital expenditures from hyperscalers. Bottom line, Curtis is backing Nvidia with conviction, assigning a Buy rating and a $185 price target – implying a 31% upside from current levels. (To watch Curtis's track record, click here) That's a pretty common take on Wall Street; based on a mix of 35 Buys, 4 Holds and 1 Sell, NVDA stock claims a Strong Buy consensus rating. Going by the $173.57 average price target, a year from now, shares will deliver returns of ~22%. (See ) To find good ideas for AI stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Bloomberg
23 minutes ago
- Bloomberg
Germany's Merz to Meet Trump in Washington
German Chancellor Friedrich Merz will travel to Washington for his inaugural meeting with US President Donald Trump on Thursday. With just weeks until Trump has threatened to implement sweeping 50% tariffs on all European goods, the timing of Merz's trip is critical. Bloomberg's Michael Nienaber reports. (Source: Bloomberg)
