Even if we avert a shutdown this week, things will be worse next month for the following three reasons…
Of course none of this is even remotely true. But that won’t matter to his brainwashed supporters.
All eyes on (geo)politics. And Canada. Of course.
Well, it’s “Executive Time” for Donald Trump and you know what that means, right?
Buckle up, this could be a bumpy ride.
“…including 70% of respondents who approve of Donald Trump’s job performance, according to a CNN poll released this week.”
“I recognize that it is unusual for a former Cabinet official to sue the agency she once led. It may be even more unusual to challenge as unconstitutional, unjust and unlawful the elimination of a program originally established by the plaintiff — me — in this litigation.”
“The truth is that letting the Dreamers work legally helps the U.S. economy; pushing them out or into the shadows is bad for everyone except racists. To understand why, you need to realize that America, like other advanced economies, is facing a double-barreled demographic challenge thanks to declining fertility.”
The bottom line is that between another powerful hurricane approaching the U.S. mainland, U.S. markets catching up with their global counterparts in terms of pricing in North Korea after the long weekend, the DACA decision which portends more bickering in Washington, and the looming debt ceiling debate (with the specter of a technical default showing up in today’s decidedly poor 4-week bill auction), it was death by a thousand cuts.
It’s safe to say that the market is pricing in some kind of political risk around the administration’s highly contentious decision to end DACA. This was of course predictable (both the rescinding of the program and the political firestorm it will invariably engender), but this looks like a bridge too far for U.S. equities that…
But as we put it on Monday, Trump is a man who has made a habit out of doing his best Plaxico Burress impression.
Whatever the case, the assumption here is that this will get done come hell or high water (with the latter having already arrived in Texas and the former well on its way between North Korea and Irma).
Let’s just step back from the moral depravity for a second and think about this from a purely strategic perspective.
Yes, there’s a kinda, sorta deadline for this decision thanks to 10 states that have threatened to sue the government if it doesn’t stop protecting people brought into the country illegally as children. But obviously Trump isn’t obliged to heed that threat. He could take that risk in the interest of not igniting another racially-charged, political firestorm just weeks after he threw gasoline on the firestorm his bungled response to Charlottesville created by pardoning Joe Arpaio.
“In some of the cases they’re having DACA and they’re gang members and they’re drug dealers too. But you have some absolutely incredible kids, I would say mostly.”