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Yahoo
20 hours ago
- Business
- Yahoo
Investor Who Predicted 2008 Crash Sounds Alarm On 1 Particular Donald Trump Policy
Hedge-fund billionaire Ray Dalio — who correctly predicted the financial crash that roiled the world in 2008 — has warned in his new book that America's current $36 trillion debt is the country's biggest problem. And Dalio slammed Donald Trump's administration for slashing federal spending and gutting the government because 'many people who will be hurt by them will fight back and valuable support systems will be weakened or eliminated,' according to quotes of 'How Countries Go Broke: The Big Cycle' that The Guardian published Tuesday. Dalio, the founder of global hedge fund Bridgewater Associates, also suggested Trump's 'Make America Great Again' policies are 'remarkably like the policies that those of the hard-right countries in the 1930s used.' 'It would be fair to argue that his attempts to maximize the power of the presidency by bypassing the other branches of government are analogous to the ways that Andrew Jackson (of the right) and Franklin D Roosevelt (of the left) did, though he is even more aggressive than they were,' he added. 'We will see how far he will take it.' Dalio last month warned how 'something worse than a recession' could soon happen, attributing it to a raft of issues including Trump's tariffs on products imported from other countries. 'We have a breaking down of the monetary order,' Dalio cautioned on NBC's 'Meet The Press.' 'Such times are very much like the 1930s,' he added. 'I've studied history, and this repeats over and over again.' Harvard's Laurence Tribe Delivers Unflinching Message To Foreign Students In Trump Crosshairs Fox News' Brit Hume Scoffs At Trump's Latest Rant: 'Don't Know What' He's Talking About Wall Street Journal Shatters Core Trump Fantasy In Editorial Urging GOP 'Revolt' Rage Against The Machine's Tom Morello Unleashes Anti-Trump Fury With Flip Of His Guitar
Yahoo
21-05-2025
- Politics
- Yahoo
JD Vance Claims He's ‘Not Entitled' To 2028 Presidential Bid
Vice President JD Vance, on Monday, revealed his mindset about a potential 2028 presidential run while dismissing rumors about a feud between him and Secretary of State Marco Rubio, as President Donald Trump recently floated both men as potential successors. Earlier this month, Trump said he was confident the MAGA movement could continue without him at the top, and mentioned the two top administration officials as possible future leaders. 'You look at Marco, you look at JD Vance, who's fantastic,' the president told NBC's 'Meet The Press.' 'You look at — I could name 10, 15, 20 people right now just sitting here.' In an interview with NBC News in Rome during his trip to attend Pope Leo XIV's inaugural Mass, Vance explained his mindset as it pertains to the upcoming presidential election, without specifically referencing Trump's remarks. 'My attitude is, if I do end up running in 2028, I'm not entitled to it,' he said. 'But I really think that Marco and I can get a lot done together over the next few years. That's how I think about our friendship and our relationship. And I would be shocked if he thought about it any differently.' Vance said he and Rubio, who also joined the Italy trip, talk on the phone as many as five times a day 'on a light day,' noting that he has a lot of trust in his fellow Cabinet member and tunes out this type of chatter about their relationship. 'I don't give a shit about this stuff,' he said. 'I don't even think that much about it.' While Vance could be considered Trump's heir apparent given his role, Rubio, who currently holds a total of three jobs in the administration and was also floated as a potential vice presidential candidate last year, has a big enough platform to potentially challenge the Ohio Republican down the line, sources told NBC. Rubio also competed against Trump in the brutal 2016 GOP presidential primary but grew close to the president in the years since. Awkward Clip Of JD Vance Meeting Pope Leo Sets Social Media Ablaze JD Vance Uses Biden's Cancer Diagnosis To Criticize His Job As President Pope Leo XIV And JD Vance Meet Ahead Of Trump's Expected Call With Putin
Yahoo
21-05-2025
- Politics
- Yahoo
Trump's attacks on your access to news are all part of Project 2025
Ignorance is Donald Trump's best friend, which would explain why he is not a fan of a free press that strives to provide fair and balanced reporting of the facts. Fair and balanced media just doesn't work for what this particular president and his team of government wrecking balls seem to have in mind, because it doesn't provide the steady, rage-inducing diet of misinformation required by his base. Or maybe I should say, required to keep his base in line and on script. Just for one example, Trump claimed last month that the price of eggs had come down 'like 93%, 94% since we took office.' That's not just misinformation, that's a lie. The truth is that the price of eggs hit a record high in March. If the only information American voters had access to was provided by a fair and balanced media, I suspect Donald Trump might never have been elected. But instead, we are deluged daily with a firehose of misinformation and disinformation mixed in with actual truthful information that is misleadingly presented as "choice." This mainline infusion of lies and more lies has gained traction in MAGA circles as 'alternative facts,' thanks in large part to Kellyanne Conway, former counsel to President Trump, who used the phrase in a Meet The Press interview in January of 2017. Between that, and Trump's fondness for referring to news he doesn't like as 'fake news,' too many folks these days seem to believe there is no such thing as actual truth, just what you choose to believe. If we continue down the road that says the truth is optional, then Trump is just the beginning of our woes, not the end. I'm not saying I know precisely how to do it, but I do know that we've got to figure this out. Maybe it starts with understanding that Trump's attacks on media are part of a coordinated plan, laid out in, what else, Project 2025. More from Freep Opinion: Project 2025 is bad. Its successor, Project Esther, plans for the Rapture. According to a rather lengthy but highly informative piece written last year about what Project 2025 could mean for the media, the Brookings Institute reminded its readers of the following: 'Congress enacted the 1967 Public Broadcasting Act because they believed an educated and informed citizenry was in the public, local, and national interest.' Now compare that to Project 2025's views of public media: 'To stop public funding (of public broadcasting) is good policy and good politics. The reason is simple: President Lyndon Johnson may have pledged in 1967 that public broadcasting would become 'a vital public resource to enrich our homes, educate our families and to provide assistance to our classrooms,' but public broadcasting immediately became a liberal forum for public affairs and journalism.' In 1974, not even a decade after the passage of the Public Broadcasting Act, President Richard Nixon was forced to resign from office in disgrace after two young Washington Post reporters discovered that the president was trying to steal an election. But it wasn't just their steady stream of increasingly damaging scoops that resulted in Nixon's impeachment, followed by his resignation; it was the fact that the vast majority of Americans who followed these stories did not think to dismiss them as "fake news," and no one had ever heard of "alternative facts." The nation was largely incensed by what Nixon had tried to do, and the subsequent televised Watergate hearings became the primary relied-upon source of information for tens of thousands of Americans about the details of the coverup that nearly wrecked their country. Those were the days. More from Freep Opinion: How much of Project 2025 has been implemented? Enough to break us beyond repair. Today, Trump refers to the media as the "enemy of the people," and is now seeking to defund the Public Broadcasting System, among others. Trump's budget, released earlier this month, eliminates funding for the Corporation for Public Broadcasting, which funds PBS and National Public Radio. This is part of a broader plan, laid out by Project 2025, to at least severely cripple, if not dismantle, any and all media outlets deemed not friendly enough to the Trump administration. To quote the document itself: 'The 47th President can just tell the Congress — through the budget he proposes and through personal contact — that he will not sign an appropriations spending bill that contains a penny for the CPB. The President may have to use the bully pulpit, as NPR and PBS have teams of lobbyists who have convinced enough Members of Congress to save their bacon every time their taxpayer subsidies have been at risk since the Nixon era. ... Stripping public funding would, of course, mean that NPR, PBS, Pacifica Radio, and the other leftist broadcasters would be shorn of the presumption that they act in the public interest and receive the privileges that often accompany so acting. They should no longer, for example, be qualified as noncommercial education stations (NCE stations), which they clearly no longer are.' Without noncommerical status, PBS and NPR stations would have to pay for their licenses, and pay taxes, all while losing federal funds. But, naturally, Trump swore throughout his campaign that he didn't know anything about Project 2025, despite the fact that several key authors of that plan served in his administration. In March of this year, acting in lockstep with the blueprint he says he never heard of, Trump banned the Associated Press from White House grounds because they refused to start calling the Gulf of Mexico the Gulf of America. The AP took the Trump administration to court and won a decision to once again be allowed to be a member of the White House press pool. But Trump, being Trump, has defied that court order, and still won't allow AP reporters on White House grounds. Trump has also filed lawsuits against the New York Times; the Des Moines Register (a member of the USA Today Network, of which the Detroit Free Press is part), dismissed in February; ABC, settled last year for $15 million; Simon and Schuster; CBS; and a $475 million defamation lawsuit against CNN that was dismissed in 2023. It's true that Trump hasn't quite yet figured out how to completely shut down all media outlets he doesn't like, which is quite a few media outlets, and it's worth noting that plenty of publications do continue to publish the news, even if not all Americans care to consume it. Many college newspapers, however, have been experiencing incidents of students desperately requesting that possibly offensive articles be removed or retracted out of fear of what might happen to them for criticizing the Trump administration. The headline of a recent AP story, 'College journalists wrestle with transparency as students fear deportation for speaking out' pretty much spells it out: 'Many young editors are beginning to reconsider long-standing journalistic practices around transparency to protect the people who appear in their reports. It's happening amid a climate of fear on campuses that is causing certain students to be reluctant to speak out publicly. "These dramatic shifts in student media escalated after Rümeysa Öztürk, a Tufts University student from Turkey, was threatened with deportation and detained in March over what her lawyers say is apparent retaliation for an op-ed piece she co-wrote in the student newspaper.' Remember that Trump is the same guy who is now gleefully deporting legal immigrants without due process, and has expressed a burning desire to similarly export born-in-the USA Americans who he deems as unworthy. And if that sweep manages to "accidentally" sweep up some non-guilty folk, then, oh well. Collateral damage and all that. It was Martin Luther King Jr. who realized early the power of televised news coverage to make the case for civil and human rights to be granted to Black people in America. During the civil rights movement, it was television that turned the tide in our favor when white people across America saw for the first time images of how ugly this country could be, with fire hoses and vicious dogs being turned on peaceful protesters. Not to mention the horrifying photo published on the cover of Jet magazine of a brutally disfigured Emmett Till in an open coffin, because his mother, Mamie Till, wanted America to see what white racism had done to her son. Because what if none of those incidents had ever been recorded or televised? Where would we be now? Or perhaps a more pertinent question might be, how different the reaction might have been to the disfigured image of Emmett Till in modern-day America? Today, social media and other "alternative" news outlets like Fox News have contributed to a total re-write of history for thousands of Americans who rely on them for "truth"; saying that the Jan. 6 insurrection was really just a tourist jaunt and that those arrested for being patriotic tourists were victimized political prisoners. Until Trump set them free. In such a climate, anyone who wanted to believe Emmett Till's murder was fabricated could easily find a "news" source to support whatever alternative facts they preferred to believe. As summer approaches, a remarkable number of anti-Trump protests have been organized around the country, including ridiculously large crowds in heavily Republican red states like Idaho and Utah. Trump has already tried to lie about the actual size of these crowds, which have been in the tens of thousands, but news coverage and cell phone cameras have made the truth plain to see. Many of us take this ability to tell the truth in the face of repression for granted. Don't. Free Press contributing columnist Keith A. Owens is a local writer and co-founder of Detroit Stories Quarterly and the We Are Speaking Substack newsletter and podcast. Submit a letter to the editor at and we may publish it online and in print. Like what you're reading? Please consider supporting local journalism and getting unlimited digital access with a Detroit Free Press subscription. We depend on readers like you. This article originally appeared on Detroit Free Press: Trump attacks on information access are part of Project 2025 | Opinion
Bloomberg
20-05-2025
- Entertainment
- Bloomberg
Ex-NBC Host Chuck Todd Plans Online Show With Startup Noosphere
Chuck Todd, the former moderator of NBC's weekly news program Meet the Press, is launching a new app-based show with media startup Noosphere. Called Sunday Night With Chuck Todd, the politics-themed program starts June 1 and will feature one-on-one interviews filmed at popular restaurants and bars in Washington.
Yahoo
19-05-2025
- Business
- Yahoo
Not Even the Moody's Downgrade Can Make Republicans Take the National Debt Seriously
In a world where federal policymakers were treating America's national debt with the seriousness it deserves, Friday might have been a crucial turning point in Washington. First, the House Budget Committee voted down President Donald Trump's tax proposal when four Republican members of the committee broke ranks over concerns about how the bill is projected to increase the budget deficit and the debt. "This bill falls profoundly short," said Rep. Chip Roy (R–Texas), one of those four GOP members, during the committee's debate on the bill. "It does not do what we say it does with respect to deficits." Hours later, Moody's Ratings seemingly agreed with those objections when the credit rating agency downgraded the federal government's debt—a signal to investors that buying Treasury bonds is a riskier bet than it used to be. In a statement, Moody's said that the downgrade reflected the fact that Congress and the president "have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs," and noted that "current fiscal proposals under consideration" would not do anything to reduce spending and deficits. Indeed, the tax bill under consideration in the House will add at least $3.3 trillion to the debt over the next 10 years, according to an estimate by the Committee for a Responsible Federal Budget. That figure rises to more than $5 trillion if various temporary measures in the bill become permanent. Those figures should give any member of Congress pause, even if the federal government wasn't already on pace to add $22 trillion to the debt in the next decade and even if Moody's (and other credit rating agencies) weren't already sounding the alarm. "Moody's downgrade must be a wake-up call for Congress," Romina Boccia, director of budget and entitlement policy at the Cato Institute, told Reason. "Issued mere hours after Congress floated adding $5 trillion in new deficits—thereby threatening to accelerate the already unsustainable $20 trillion debt increase by 25 percent between now and 2034—shows how unserious lawmakers have become about solving the federal budget crisis. This kind of fiscal recklessness, on top of already unsustainable entitlement and interest spending increases, signals to markets that the U.S. political system may no longer be capable of self-correcting." Alas, by Sunday night, it was obvious that we don't live in a world where federal policymakers are taking this seriously. In response to Friday's events, the Trump administration urged Republicans to stick their heads deeper in the sand. Asked about the credit rating downgrade during a Sunday appearance on Meet The Press, Treasury Secretary Scott Bessent said, "Who cares?" He also called the downgrade a "lagging indicator" that reflected poor decisions by the Biden administration. It's true that the Biden administration made poor fiscal decisions. In that regard, it has a lot in common with the first Trump administration—which added nearly $8 trillion to the national debt in just four years—and the Obama and Bush administrations before it. As Moody's pointed out in its statement about the rating change, the federal government's worsening fiscal condition is the result of multiple presidential administrations and congresses. Still, that's not a very good reason for making a bad situation worse, which is what the tax bill is likely to do. Blaming Biden for the obvious, negative fiscal consequences of a bill that Trump and his Republican allies are trying to pass makes no sense at all. That bill is now closer to passing. Late Sunday night, the House Budget Committee held a second vote on the bill, and the four Republican holdouts from Friday voted "present" rather than "no"—enough to allow the bill to progress out of committee. Republicans are, in fairness, in a difficult spot here. They have a minuscule majority in the House, and failing to extend the 2017 Trump tax cuts would mean effectively raising taxes on nearly all Americans. It appears that the easiest solution is to do what has been done so many other times this century: accept higher borrowing as a trade-off for politically expedient policymaking, and keep ignoring the warning signs. "For those looking for a signpost to tell us when to stop adding to our national debt, they should look no further than Moody's downgrade," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation, which advocates for reducing the deficit, in response to the Moody's announcement on Friday. "It's unacceptable for a great country like America to harm its own credit rating. We have plenty of options on the table to fix this, and it can be done quickly, with leadership." He's right. This weekend was a test for the current crop of Republican leaders in Congress and the White House. Once again, they seem to have failed. The post Not Even the Moody's Downgrade Can Make Republicans Take the National Debt Seriously appeared first on
