Latest news with #Trump-induced
The Herald Scotland
3 days ago
- Politics
- The Herald Scotland
Can young Democrats really threaten Pelosi's old guard?
His message: "People are fed up with the old guard." More: Elon Musk's rise and fall: From Trump's chainsaw-wielding sidekick to a swift exit Pelosi's not sweating But the old guard is unimpressed. Pelosi told USA TODAY she doesn't view Chakrabarti's challenge as serious. "Not at all. Not even slightly," she said. Chakrabarti, a tech millionaire, is making gerontocracy - rule by the aged - a big part of his campaign. He says he's building an insurgent base through Zoom calls with voters and regular TV appearances. Amid a storm of Trump-induced crises, Chakrabarti says, "The Democratic party has an inability-to-change problem." While political scientists say it will be tough to beat seasoned pols like Pelosi, the bids expose a growing divide as Chakrabarti and others seek a more publicly assertive party. In Georgia, 33-year-old Everton Blair is running to unseat twelve-term incumbent Rep. David Scott, 79. And Jake Ravok, 37, who was eight when his former boss, California Rep. Brad Sherman, 70, was first elected to Congress in 1996, launched a primary challenge in April. It's been a bumpy uprising. Related: Too old or very wise: U.S. leaders are among the world's oldest. Is it a problem? On April 16, Democratic National Committee Vice Chair David Hogg, 25, announced his support for young progressives challenging "out of touch, ineffective" incumbents, earning a rebuke from Democratic brass. "This is probably the best opportunity for younger Democrats to run for Congress since the Watergate Babies overran the House in 1974," said David Niven, associate professor of politics at the University of Cincinnati. "For a lot of Democrats, new voices represent hope." "Traditional voices represent defeat," Niven said. A new generational tide Chakrabarti got his political start with Bernie Sanders in 2016 and was chief of staff to New York Rep. Alexandria Ocasio-Cortez, 35. He launched his uphill campaign against Pelosi in February, arguing Democrats "are not recognizing this political moment for what it is." Progressives were furious in March when Senate Minority Leader Chuck Schumer, 74, voted to advance a Trump-approved spending bill. Some progressives were appalled as Democrats joined Republicans in voting for a transgender sports ban and the Laken Riley Act, which requires officials to detain undocumented immigrants accused of certain crimes. Rakov said his campaign is driven by the generational divide. "I think not everything has to be a fight to the death, but there absolutely does need to be some fight in our leaders, and I think the voters are wanting to see that," he said. This old House There are currently 13 House members between 80 and 89, according to a January Pew Research Center survey, and 68 between 70 and 79. One Senator is older than 90, five are between 80 and 89, and 27 are between ages 70 and 79. Trump turns 79 on June 14. Joe Biden was 82 when he left office. Blair, who was chair of the Gwinnett County Board of Education in Georgia, said Democrats are missing opportunities to reach voters on Twitch, TikTok, gaming platforms and podcasts. "I think we just keep it real. People don't necessarily want to hear the wonky principles of your policy agenda," he said. "They kind of want to hear that you feel the pain that they feel, and that you have a plan for it." Running on a record Senior Democrats brushed off age concerns. Pelosi, a Bay Area powerhouse, is now serving her 20th term. She made history in 2007 as the first female House speaker - and frequently sparred with Trump during his first term. Sherman, who represents parts of Los Angeles County, typically gets at three to six primary challengers every year; some in their 30's like Rakov. "If I'm ever beat, it's going to be somebody with a long record of active involvement in the community organizations of my district," he said. "But it's not going to be by somebody who just shows up in the district and says, 'I worked for Sherman back in 2017,'" he said of Rakov. Rakov said he lived in Texas, New York and Connecticut before moving to California earlier this year. But the insurgents cling to hope, recalling Ocasio-Cortez's 2018 upset over Rep. Joseph Crowley, a top House Democrat. Ocasio-Cortez, then 28, ousted Crowley by more than 10 percentage points. "Know your community. It's important to have the right message. It's important to have the right values," Ocasio-Cortez told USA TODAY when asked how young Democrats can win. Age not an issue The old guard isn't worried. "No matter how old you are, you still got to run on your you want to dance, you got to pay the fiddler," said Connecticut Democrat Rep. John Larson, 76. Larson was in the spotlight after freezing on the House floor in February due to a "complex partial seizure" and suffering a brief pause at a press conference in April. He's been in Congress since 1999. Other elder Democracts include Maryland Rep. Steny Hoyer, 85, California Rep. Maxine Waters, 86 and Illinois Rep. Danny Davis, 83. Hogg announced in April that his group, Leaders We Deserve, would spend $20 million on young challengers in safe blue districts. But DNC chairman Ken Martin urged committee officers to stay neutral in primaries, giving Hogg an ultimatum: Resign from the committee or end his role in primary challenges. The DNC credentials committee later voted in favor of a May 12 resolution that recommended voiding Hogg's election as vice chair. Fighters vs folders Some have argued the biggest divide in the Democratic party isn't over age, but who's willing to pick a fight. "It's about fighters versus folders," said Texas Rep. Greg Casar, 35, chair of the Congressional Progressive Caucus. "You know, Lloyd been in Congress for 30 years. He is a fighter," Casar said of his fellow Lone Star Democrat. "Nobody accuses him of being a folder. Bernie got more energy than half the chamber combined." People "know we're not going to win every fight, but they need to see us taking every single fight on because Trump's rhetoric is hitting different," said Massachusetts Rep. Ayanna Pressley, who scored a major upset against a ten-term Democratic incumbent in 2018. "We have to move differently. We have to match their energy. I'm not 25 and I feel that way," Pressley, 51, said.
USA Today
4 days ago
- Politics
- USA Today
Can young Democrats threaten Nancy Pelosi and the old guard?
Can young Democrats threaten Nancy Pelosi and the old guard? Young Democrats launch primary challenges against senior incumbents in Congress, arguing that the party has an "inability to change" problem. Show Caption Hide Caption AOC sounds off after Schumer says he'll support Trump's funding bill Alexandria Ocasio-Cortez didn't hold back after Chuck Schumer said he would support the Republicans' stopgap funding bill to avoid a government shutdown. Fox - 32 Chicago Former Speaker Nancy Pelosi said she isn't fazed by a challenge from Saikat Chakrabarti. Chakrabarti is a former aide to Alexandra Ocasio-Cortez and to Bernie Sanders. "For a lot of Democrats, new voices represent hope," said David Niven, associate professor of politics at the University of Cincinnati. 'No matter how old you are, you still got to run on your record…if you want to dance, you got to pay the fiddler," said Connecticut Democrat Rep. John Larson, 76. WASHINGTON − Thirty-nine-year-old Saikat Chakrabarti is looking to pull off a political earthquake: Oust California Democrat Nancy Pelosi in next year's primaries. The 85-year-old former House Speaker has been in Congress since 1987, almost as long as Chakrabarti's been alive. He's part of a movement of young progressives looking to knock off their Democratic elders in blue state primaries next year, arguing the veterans aren't doing enough to take the fight to President Donald Trump. His message: "People are fed up with the old guard." More: Elon Musk's rise and fall: From Trump's chainsaw-wielding sidekick to a swift exit Pelosi's not sweating But the old guard is unimpressed. Pelosi told USA TODAY she doesn't view Chakrabarti's challenge as serious. 'Not at all. Not even slightly,' she said. Chakrabarti, a tech millionaire, is making gerontocracy − rule by the aged − a big part of his campaign. He says he's building an insurgent base through Zoom calls with voters and regular TV appearances. Amid a storm of Trump-induced crises, Chakrabarti says, "The Democratic party has an inability-to-change problem." While political scientists say it will be tough to beat seasoned pols like Pelosi, the bids expose a growing divide as Chakrabarti and others seek a more publicly assertive party. In Georgia, 33-year-old Everton Blair is running to unseat twelve-term incumbent Rep. David Scott, 79. And Jake Ravok, 37, who was eight when his former boss, California Rep. Brad Sherman, 70, was first elected to Congress in 1996, launched a primary challenge in April. It's been a bumpy uprising. Related: Too old or very wise: U.S. leaders are among the world's oldest. Is it a problem? On April 16, Democratic National Committee Vice Chair David Hogg, 25, announced his support for young progressives challenging "out of touch, ineffective" incumbents, earning a rebuke from Democratic brass. 'This is probably the best opportunity for younger Democrats to run for Congress since the Watergate Babies overran the House in 1974,' said David Niven, associate professor of politics at the University of Cincinnati. "For a lot of Democrats, new voices represent hope." "Traditional voices represent defeat,' Niven said. A new generational tide Chakrabarti got his political start with Bernie Sanders in 2016 and was chief of staff to New York Rep. Alexandria Ocasio-Cortez, 35. He launched his uphill campaign against Pelosi in February, arguing Democrats 'are not recognizing this political moment for what it is.' Progressives were furious in March when Senate Minority Leader Chuck Schumer, 74, voted to advance a Trump-approved spending bill. Some progressives were appalled as Democrats joined Republicans in voting for a transgender sports ban and the Laken Riley Act, which requires officials to detain undocumented immigrants accused of certain crimes. Rakov said his campaign is driven by the generational divide. 'I think not everything has to be a fight to the death, but there absolutely does need to be some fight in our leaders, and I think the voters are wanting to see that," he said. This old House There are currently 13 House members between 80 and 89, according to a January Pew Research Center survey, and 68 between 70 and 79. One Senator is older than 90, five are between 80 and 89, and 27 are between ages 70 and 79. Trump turns 79 on June 14. Joe Biden was 82 when he left office. Blair, who was chair of the Gwinnett County Board of Education in Georgia, said Democrats are missing opportunities to reach voters on Twitch, TikTok, gaming platforms and podcasts. 'I think we just keep it real. People don't necessarily want to hear the wonky principles of your policy agenda,' he said. 'They kind of want to hear that you feel the pain that they feel, and that you have a plan for it.' Running on a record Senior Democrats brushed off age concerns. Pelosi, a Bay Area powerhouse, is now serving her 20th term. She made history in 2007 as the first female House speaker − and frequently sparred with Trump during his first term. Sherman, who represents parts of Los Angeles County, typically gets at three to six primary challengers every year; some in their 30's like Rakov. 'If I'm ever beat, it's going to be somebody with a long record of active involvement in the community organizations of my district,' he said. 'But it's not going to be by somebody who just shows up in the district and says, 'I worked for Sherman back in 2017,'' he said of Rakov. Rakov said he lived in Texas, New York and Connecticut before moving to California earlier this year. But the insurgents cling to hope, recalling Ocasio-Cortez's 2018 upset over Rep. Joseph Crowley, a top House Democrat. Ocasio-Cortez, then 28, ousted Crowley by more than 10 percentage points. "Know your community. It's important to have the right message. It's important to have the right values," Ocasio-Cortez told USA TODAY when asked how young Democrats can win. Age not an issue The old guard isn't worried. 'No matter how old you are, you still got to run on your record…if you want to dance, you got to pay the fiddler," said Connecticut Democrat Rep. John Larson, 76. Larson was in the spotlight after freezing on the House floor in February due to a 'complex partial seizure' and suffering a brief pause at a press conference in April. He's been in Congress since 1999. Other elder Democracts include Maryland Rep. Steny Hoyer, 85, California Rep. Maxine Waters, 86 and Illinois Rep. Danny Davis, 83. Hogg announced in April that his group, Leaders We Deserve, would spend $20 million on young challengers in safe blue districts. But DNC chairman Ken Martin urged committee officers to stay neutral in primaries, giving Hogg an ultimatum: Resign from the committee or end his role in primary challenges. The DNC credentials committee later voted in favor of a May 12 resolution that recommended voiding Hogg's election as vice chair. Fighters vs folders Some have argued the biggest divide in the Democratic party isn't over age, but who's willing to pick a fight. 'It's about fighters versus folders,' said Texas Rep. Greg Casar, 35, chair of the Congressional Progressive Caucus. 'You know, Lloyd been in Congress for 30 years. He is a fighter," Casar said of his fellow Lone Star Democrat. "Nobody accuses him of being a folder. Bernie got more energy than half the chamber combined.' People 'know we're not going to win every fight, but they need to see us taking every single fight on because Trump's rhetoric is hitting different," said Massachusetts Rep. Ayanna Pressley, who scored a major upset against a ten-term Democratic incumbent in 2018. 'We have to move differently. We have to match their energy. I'm not 25 and I feel that way,' Pressley, 51, said.
Yahoo
24-05-2025
- Business
- Yahoo
We talked to 2 retail investors who dumped stocks in response to Trump uncertainty. They told us why they have no regrets.
While some retail investors are rushing to buy the dip, others are sitting it out. Angelo Sibilio and Matt White are increasing their cash allocations to de-risk their portfolios. Sibilio and White shared how they're feeling about the market volatility. While some retail investors are scrambling to buy the dip, "cash is king" has emerged as the mantra for some others in 2025's tumultuous market. That's the investing strategy Angelo Sibilio is adopting amid current market conditions. The 35-year-old quantitative analyst felt uneasy about President Donald Trump's tariff rhetoric after Inauguration Day and decided to derisk accordingly, moving half of his portfolio to Treasurys and cash on April 4 — two days after Trump announced his "Liberation Day" tariffs, which sent the S&P 500 tumbling about 12% in the span of a week. "I can't cash out my 401(k), so I went with a Treasury index," Sibilio said. "In my other accounts, I put half of my money into a money market fund." Since then, the market has recovered its losses. But Sibilio doesn't feel like he's missed out on much. "Not having to go through a couple of weeks where everything was going to hell gave me more peace of mind," Sibilio said. "I missed a little bit of upside, but that's not the end of the world for a long-term investment." Matt White, a 33-year-old epidemiologist, also doesn't like the market's Trump-induced volatility and has increased his allocation to cash. "I've never done this before, but I actually sold around $30,000 about 30 minutes before Trump started his Liberation Day speech," White told BI. "It was in my Roth IRA because I didn't want to create a taxable event, and I put it in the money market." In addition to tariff volatility, White feels that many parts of the market, especially in the tech sector, are still quite overvalued, so he's content to keep a higher allocation to cash than usual. "I still expect the market to drop," White said. "I think we're at a very irrational stage right now." Sibilio and White didn't feel like they panic sold. They're not scrambling to buy the dip either. They see the move to cash as a way to de-risk their portfolios in the face of elevated volatility from the trade war. For some who are uncomfortable with the uncertainty in the market, reducing risk by holding more cash might not be a bad idea, as it creates a buffer if large market pullbacks occur. With the Federal Reserve holding off on cutting rates, investors can receive over 4% on money market funds and 10-year Treasury bonds. Increased cash levels also give investors dry powder should they wish to take advantage of a sell-off. However, this defensive approach should really only be used by those with a shorter investing timeline. If you're planning not to touch your money for decades still, experts tend to warn investors against cashing out and say to stay invested instead. Getting out of the market during a drawdown can lead to missing out on the rebound and locking in losses. Markets can be volatile in the short term, and patience is key for successful investing, as the S&P 500 has typically returned 10% on an annualized basis over the last 50 years. The most important thing is to contribute to your portfolio on a regular basis through dollar-cost averaging, according to Ashley Weeks, wealth strategist at TD Wealth. Investors with different risk profiles might consider holding more cash — for example, if you're planning to make a big purchase such as a house in the next couple of years — but otherwise Weeks recommends his clients avoid withdrawing from their portfolios during times of volatility. White acknowledges this, but the volatility he's seeing feels unprecedented. Besides, he's only cashed out some of his Roth IRA and left his other tax-advantaged accounts alone. "It's always going to be better to have ownership in the market than carry cash, but I'm being more cognizant of the risk levels in the market," he said. White and Sibilio's de-risking points to something bigger than just tariff headlines — they're also feeling distrustful of the fast-changing narratives coming from Wall Street. Sibilio anticipates hedging his portfolio with a half-cash allocation indefinitely. Recent trade negotiations, while certainly a positive signal, aren't enough to convince him that it's a safe time to fully buy back in. "I'm not necessarily looking for a certain price level to buy back in. I'm looking, first of all, for more certainty in the policy, and also business and consumer sentiment," Sibilio said. "The big investment banks now say they're no longer projecting a recession, but they're reversing a position they took just a few weeks ago. You're not going to come in and out of a recession because of just one decision," he continued, referencing the recent trade deal with China. Indeed, upon the announcement of a US-China trade deal, Goldman Sachs lowered its 12-month recession forecast from 45% to 35%. Similarly, JPMorgan lowered its recession risk from 60% to below 50% last week. White sees an increased cash position as a way to minimize the impact of potential downturns caused by the trade war. "Right now, this is a very high-risk environment, and it's not a bet I want to be a part of, so I'm going to have some cash on the side," White said. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
24-05-2025
- Business
- Business Insider
We talked to 2 retail investors who dumped stocks in response to Trump uncertainty. They told us why they have no regrets.
While some retail investors are scrambling to buy the dip, "cash is king" has emerged as the mantra for some others in 2025's tumultuous market. That's the investing strategy Angelo Sibilio is adopting amid current market conditions. The 35-year-old quantitative analyst felt uneasy about President Donald Trump's tariff rhetoric after Inauguration Day and decided to derisk accordingly, moving half of his portfolio to Treasurys and cash on April 4 — two days after Trump announced his "Liberation Day" tariffs, which sent the S&P 500 tumbling about 12% in the span of a week. "I can't cash out my 401(k), so I went with a Treasury index," Sibilio said. "In my other accounts, I put half of my money into a money market fund." Since then, the market has recovered its losses. But Sibilio doesn't feel like he's missed out on much. "Not having to go through a couple of weeks where everything was going to hell gave me more peace of mind," Sibilio said. "I missed a little bit of upside, but that's not the end of the world for a long-term investment." Matt White, a 33-year-old epidemiologist, also doesn't like the market's Trump-induced volatility and has increased his allocation to cash. "I've never done this before, but I actually sold around $30,000 about 30 minutes before Trump started his Liberation Day speech," White told BI. "It was in my Roth IRA because I didn't want to create a taxable event, and I put it in the money market." In addition to tariff volatility, White feels that many parts of the market, especially in the tech sector, are still quite overvalued, so he's content to keep a higher allocation to cash than usual. "I still expect the market to drop," White said. "I think we're at a very irrational stage right now." Panic selling or a strategic move? Sibilio and White didn't feel like they panic sold. They're not scrambling to buy the dip either. They see the move to cash as a way to de-risk their portfolios in the face of elevated volatility from the trade war. For some who are uncomfortable with the uncertainty in the market, reducing risk by holding more cash might not be a bad idea, as it creates a buffer if large market pullbacks occur. With the Federal Reserve holding off on cutting rates, investors can receive over 4% on money market funds and 10-year Treasury bonds. Increased cash levels also give investors dry powder should they wish to take advantage of a sell-off. However, this defensive approach should really only be used by those with a shorter investing timeline. If you're planning not to touch your money for decades still, experts tend to warn investors against cashing out and say to stay invested instead. Getting out of the market during a drawdown can lead to missing out on the rebound and locking in losses. Markets can be volatile in the short term, and patience is key for successful investing, as the S&P 500 has typically returned 10% on an annualized basis over the last 50 years. The most important thing is to contribute to your portfolio on a regular basis through dollar-cost averaging, according to Ashley Weeks, wealth strategist at TD Wealth. Investors with different risk profiles might consider holding more cash — for example, if you're planning to make a big purchase such as a house in the next couple of years — but otherwise Weeks recommends his clients avoid withdrawing from their portfolios during times of volatility. White acknowledges this, but the volatility he's seeing feels unprecedented. Besides, he's only cashed out some of his Roth IRA and left his other tax-advantaged accounts alone. "It's always going to be better to have ownership in the market than carry cash, but I'm being more cognizant of the risk levels in the market," he said. Wall Street vs Main Street White and Sibilio's de-risking points to something bigger than just tariff headlines — they're also feeling distrustful of the fast-changing narratives coming from Wall Street. Sibilio anticipates hedging his portfolio with a half-cash allocation indefinitely. Recent trade negotiations, while certainly a positive signal, aren't enough to convince him that it's a safe time to fully buy back in. "I'm not necessarily looking for a certain price level to buy back in. I'm looking, first of all, for more certainty in the policy, and also business and consumer sentiment," Sibilio said. "The big investment banks now say they're no longer projecting a recession, but they're reversing a position they took just a few weeks ago. You're not going to come in and out of a recession because of just one decision," he continued, referencing the recent trade deal with China. Indeed, upon the announcement of a US-China trade deal, Goldman Sachs lowered its 12-month recession forecast from 45% to 35%. Similarly, JPMorgan lowered its recession risk from 60% to below 50% last week. White sees an increased cash position as a way to minimize the impact of potential downturns caused by the trade war. "Right now, this is a very high-risk environment, and it's not a bet I want to be a part of, so I'm going to have some cash on the side," White said.
Winnipeg Free Press
21-05-2025
- Automotive
- Winnipeg Free Press
Canadian automotive executives call for greater ambition amid Trump threats
TORONTO – Canadian auto industry leaders say the country has to use the Trump-induced industrial crisis to build bigger at home. Flavio Volpe, head of the Automotive Parts Manufacturers' Association, used a Canadian Club event in Toronto to call for an exploration into the potential of a new Canadian-born automaker. Volpe says Canada has all the ingredients needed to build a domestic champion that could help boost the industry and show what the country is capable of, just as countries like Vietnam, Turkey and Mexico are already doing. He says there are certainly challenges, but given the shake-up going on from Trump's tariffs, it's important to be ambitious in exploring alternatives. Martinrea International executive chairman Robert Wildeboer said at the event that the rupture in the trade relationship with the U.S. is a wake-up call, and a tremendous opportunity. He says that Canada's domestic industry is challenged in part because critical skills like die making are in short supply, but that by working with North American partners, the industry could be producing millions more vehicles to supply local markets. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published May 21, 2025. Companies in this story: (TSX:MRE)
