#Trump&039;s National Debt?

[vtm-world]

America's Marxist Revolution: In Cartoons!

America’s Marxist Revolution: In Cartoons!

America’s Marxist Revolution!  In Cartoons

Gary Varvel · Apr. 24, 2020

A.F. Branco · Apr. 24, 2020

Lisa Benson · Apr. 25, 2020

[filosofablogger]

This Speaks Volumes ...

This Speaks Volumes …

Last night I came across this editorial from the Editorial Board at the Orlando Sentinel.  It speaks for itself …

Our Orlando Sentinel endorsement for president in 2020: Not Donald Trump | Editorial

By ORLANDO SENTINEL EDITORIAL BOARD

| ORLANDO SENTINEL |

JUN 18, 2019 | 5:30 AM

Donald Trump is in Orlando to announce the kickoff of his re-election campaign.

We’re here to announce our endorsement…

[snapzubusiness]

Page 1 of President Donald Trump's proposed budget boldly promises to tame America's runaway national debt, which recently surpassed $22 trillion and continues to grow. "My 2020 Budget builds on the tremendous progress we have made and provides a clear roadmap for the Congress to bring federal spending and debt under control," Trump writes in a message to Congress that serves as the introduction to the budget plan. "We must protect future generations from Washington's habitual deficit spending." via Snapzu : Business & Economy

[chrissterry]

In one news conference, Trump created several new minefields | Euronews

In one news conference, Trump created several new minefields | Euronews

WASHINGTON — Just how many problems did President Trump create for himself — and others — in Friday’s 50-minute disjointed and flat-out bizarre statement and news conference, when he announced his national emergency to build his border wall? Let us count the ways:

1. He arguably undermined the legal basis for declaring a national emergency: “I could do the wall over a longer period of…

[kj1966-blog]

THE GOP TAX BILL: CNN on why the proposed tax cuts and its consequences, Lawrence O’Donnell on Donald Trump’s rapidly growing unpopularity Donald Trump claims that the proposed Tax Bill will result in a "giant tax cut" for the middle class, "We want to give you ...

[wowmagazine2016]

"It's The Economy, Stup -- . . . oh."

“It’s The Economy, Stup — . . . oh.”

The proggies are trying hard to hide the fact that Obama’s economy was pathetic and that Trumps’ economy is already setting records that win elections.

Always nice to see Ron, isn’t it?  That clip is from 1980, when Ronald Reagan ran on a promise to cure President Carter’s “economic malaise.”  I put that clip up to make the point that our economy is always at the heart of our elections and at no…

[trueconservativepundit]

11 Quotes From Trump’s Speech To Congress That Show That The U.S. Economy Is In A State Of Collapse

11 Quotes From Trump’s Speech To Congress That Show That The U.S. Economy Is In A State Of Collapse

After Tuesday night, nobody should have any more doubt that the U.S. economy has been in the process of collapsing. Donald Trump’s speech to a joint session of Congress is being hailed as his best speech ever. Even CNN’s Van Jones praised Trump, which shocked many observers. Jones said that when Trump honored the widow of slain Navy Seal Ryan Owens that it “was one of the most extraordinary…

[jimivaey]

Trump tweets wildly misleading comparison of the national debt in his first month to Obama’s On Saturday morning, President Donald Trump took to Twitter to point out a fact he thought the media was underreporting: the decrease in the national debt in his first month.

[newssplashy]

Politics: Former presidents, congressional leaders, and the military commend John McCain's storied life and service

Former presidents, world leaders, and Congress mourned Sen. John McCain's passing and offered their condolences for his family.

Sen. John McCain died on Saturday, one day after his family announced he would be discontinuing his brain cancer treatment.

Former presidents, world leaders, and Congress mourned his passing and offered their condolences for his family.

Sen. John McCain died on Saturday, one day after his family announced he would be discontinuing his brain cancer treatment.

McCain, a six-term US senator, earned both praise and criticism during his long tenure. But despite political differences, he earned the respect from his colleagues for his storied military service and plain-spoken views.

Former presidents, world leaders, and Congress mourned his passing and offered their condolences for his family.

Here's what they had to say:

Former President Barack Obama and first lady Michelle Obama

"John McCain and I were members of different generations, came from completely different backgrounds, and competed at the highest level of politics. But we shared, for all our differences, a fidelity to something higher – the ideals for which generations of Americans and immigrants alike have fought, marched, and sacrificed.

We saw our political battles, even, as a privilege, something noble, an opportunity to serve as stewards of those high ideals at home, and to advance them around the world. We saw this country as a place where anything is possible – and citizenship as our patriotic obligation to ensure it forever remains that way.

Few of us have been tested the way John once was, or required to show the kind of courage that he did. But all of us can aspire to the courage to put the greater good above our own. At John’s best, he showed us what that means. And for that, we are all in his debt. Michelle and I send our most heartfelt condolences to Cindy and their family."

Former President George W. Bush

"Some lives are so vivid, it is difficult to imagine them ended. Some voices are so vibrant, it is hard to think of them stilled. John McCain was a man of deep conviction and a patriot of the highest order.

He was a public servant in the finest traditions of our country. And to me, he was a friend whom I'll deeply miss.

Laura and I send our heartfelt sympathies to Cindy and the entire McCain family, and our thanks to God for the life of John McCain."

Former President Bill Clinton and former secretary of state and first lady Hillary Clinton

"Senator John McCain believed that every citizen has a responsibility to make something of the freedoms given by our Constitution, and from his heroic service in the Navy to his 35 years in Congress, he lived by his creed every day.

He was a skilled, tough politician, as well as a trusted colleague alongside whom Hillary was honored to serve in the Senate. He frequently put partisanship aside to do what he thought was best for the country, and was never afraid to break the mold if it was the right thing to do.

I will always be especially grateful for his leadership in our successful efforts to normalize relations with Vietnam. Our thoughts and prayers are with his wife, Cindy, his mother, Roberta, his children, and his entire family."

Former President Jimmy Carter

"John McCain was a man of honor, a true patriot in the best sense of the word.

Americans will be forever grateful for his heroic military service and for his steadfast integrity as a member of the United States Senate.

Rosalynn and I extend our sincere condolences to Senator McCain's family and to the people of Arizona whom he represented so forthrightly for so many years."

President Donald Trump

"My deepest sympathies and respect go out to the family of Senator John McCain. Our hearts and prayers are with you!," Trump said on Twitter.

United States Naval Academy

"The Naval Academy is mourning the loss of one of our most distinguished graduates, Sen. John McCain (USNA '58)," the United States Naval Academy, McCain's alma mater, said on Twitter. "His life of service to our country is a legacy that will continue to be revered."

Sen. Lindsey Graham

"America and Freedom have lost one of her greatest champions," Sen. Lindsey Graham of South Carolina, one of McCain's closest friends, said on Twitter. "And I've lost one of my dearest friends and mentor."

"I will need some time to absorb this, but I want Cindy —and the entire McCain family — to know they are in my prayers," Graham added.

Sen. Chuck Schumer of New York

"As you go through life, you meet few truly great people. John McCain was one of them.

His dedication to his country and the military were unsurpassed, and maybe most of all, he was a truth teller - never afraid to speak truth to power in an era where that has become all too rare. The Senate, the United States, and the world are lesser places without John McCain.

Nothing will overcome the loss of Senator McCain, but so that generations remember him I will be introducing a resolution to rename the Russell building after him."

Senate Majority Leader Mitch McConnell

"Today is a deeply sad day for the Senate and for our nation. Elaine and I join all Americans in mourning the passing of our dear friend and colleague Senator John McCain.

In an era filled with cynicism about national unity and public service, John McCain's life shone as a bright example. He showed us that boundless patriotism and self-sacrifice are not outdated concepts or clichés, but the building blocks of an extraordinary American life.

Generations of McCains have served in our great Navy. John followed their example with distinction. And from his cell in Hanoi to the halls of the Senate, he never stopped fighting with courage and determination – first for his country, then for the people of Arizona, and always for the ideals he believed in most.

It is fitting that this war hero and history-changing legislator should leave us as Chairman of the Senate Armed Services Committee. John was a constant advocate for his fellow veterans and those currently serving in uniform, standing up for the benefits and care they so earned by defending our freedom. His dedication to them is just one reason among so many why he earned the utmost respect of his colleagues on both sides of the aisle.

It's an understatement to say the Senate will not be the same without our friend John. I will treasure the many memories we've shared together through the years.

The nation mourns the loss of a great American patriot, a statesman who put his country first and enriched this institution through many years of service. The Senate is keeping Cindy, the McCain family, all John's friends and staff, and the people of Arizona in our prayers at this tremendously difficult time."

Sen. Ted Cruz of Texas

"Senator John McCain was a patriot, and an extraordinary American war hero.

Born into a storied Navy family, he spent his entire life in service to his country, including 22 years in the Navy, five and a half of which were spent under the boots of North Vietnamese communists in a Hanoi prison.

First elected to Congress during the Reagan Revolution, he championed the strong national defense that he knew would help ensure the survival of freedom and liberty across the globe. He did things his way, and conducted two campaigns for President of the United States with honor and integrity.

Today, the State of Arizona, and our entire nation, have lost a great public servant. He was larger than life. Although he and I sometimes disagreed, I was deeply privileged to serve with him and proud to call him a friend.

Heidi and I send our heartfelt thoughts and prayers to Cindy, and to the entire McCain family, as they grieve the loss of a loving husband, father, and grandfather. May he rest in peace."

Sen. Marco Rubio of Florida

"John McCain's sacrifices to his country are immeasurable. With his passing today, America has lost more than a leader and more than a senator. We have lost a true American hero.

As a colleague in the Senate and a friend, I drew personal inspiration from his leadership, intellect and moral courage. He set the standard for what we should expect from our soldiers and from our public servants of all levels.

In this time of grief, I hope John's family finds comfort in knowing that this extraordinary man touched countless lives, and his memory will continue to set the standard of leadership and moral resolve for future generations."

source http://www.newssplashy.com/2018/08/politics-former-presidents.html

[vtm-world]

Trump's National Debt? #2

Trump’s National Debt? #2

Trump’s National Debt? #2

President Trump is being hammered for increasing the national debt and for his crass verbiage.

I have no concerns about Trump’s penchant for crudely insulting his enemies. His enemies are gross leftists, radical liberals (what’s the difference?) and “Rino” republicans; who are traitors to American conservatism. In fact Trump’s enemies are just as rude, crude and asinine…

[filosofablogger]

Some Have A Conscience

Some Have A Conscience

There is a letter being sent this week to Congress, signed by over 400 people, asking Congress not to cut taxes on the wealthy, as is called for by the tax reform bills currently being debated in both the House and the Senate. So, what makes this letter newsworthy?  The 400 signers of the letter are some of the wealthiest people in the nation, and they are asking Congress not to cut their taxes.

[its-veso]

USD: Trading Trump's Address To Congress - Views From 10 Major Banks

Credit Agricole: Trump may struggle to revive the ‘Trump trade’

US President will address Congress late on Tuesday and according to some reports he is expected to outline the progress made so far and urge lawmakers to follow up with legislation to maintain forward momentum. The list of topics is expected to be broad, including public safety, healthcare, tax reform and deregulation. Investors are likely to focus in particular on any details of the ‘phenomenal’ tax package signaled earlier by the President, particularly as the Treasury Secretary and members of Congress have recently cautioned not to expect legislation to be implemented before next year. Given that Republicans control both houses, the optics of the President’s appearance in front of lawmakers are likely to be constructive but the lack of significant policy detail in the speech will likely prevent a sustained revival of the long-USD ‘Trump trade’.

BTMU: Scope for disappointment on tax reform; USD/JPY to drift lower.

In a speech yesterday, President Trump stated that his first budget will focus on public safety and national security. He is seeking to increase defence spending by USD54 billion which would be offset by savings elsewhere. He added that he will make a big statement on infrastructure spending when he addresses Congress today, and that he is going to be moving very quickly on regulatory reform. However, there appears some scope for disappointment on tax reform at least in terms of timing as President Trump stated that his tax plan will only be released once they have released their proposal on Obamacare and have a clearer indication of the costs involved. USD/JPY is likely to continue to drift lower in the near-term if President Trump fails to provide fresh impetus for reflation trades today.

TD: Fade A USD bounce if no details on Border Adjustment Tax 'BAT'

The market remains sensitive to the news flow ahead of the unofficial SOTU. Ultimately, we believe that market participants looking for details will likely be disappointed, especially with market expectations of a Mar rate hike bouncing to nearly 50% in recent days. Recent news headlines have shown an emphasis on budget proposals with anti-terrorism and infrastructure the key features. This comes with a little focus on the fiscal agenda, which we view is an exercise in managing expectations. We think that the lack of consensus on how to handle Obamacare and implement broader tax reform has left the administration trying to lower bar for the speech. For the FX market, the drivers will be whether the speech keeps the equity rally going or there is an endorsement of BAT. A positive tone that encourages cooperation could benefit risk assets and the USD but would prefer to fade a USD bounce without discussions on BAT.

Barclays: Policy announcement might not come

Trump will deliver his long-awaited speech to a joint session of Congress on Tuesday (9 PM EST). Although market attention will be keenly focused on the speech, it is unlikely that new details regarding fiscal stimulus, tax reform or trade policy will be provided. The administration intends to push forward fiscal reforms before August, according to Treasury Secretary Mnuchin, but details on tax policy are likely to come after March, when Congress finishes working on repealing and replacing the Affordable Care Act.

BNPP: Risk-reward attractive for long USD ahead of this week's 3 major events.

There are three key events in the US this week: US President Trump will address a joint session of Congress (28 February), January Core PCE data (1 March) and Fed Chair Yellen’s speech (3 March). Trump is expected to reveal his fiscal plans, the market expects core PCE to rise further to just 0.2pp below the Fed’s 2% target, and Yellen’s speech will be her last before the blackout period ahead of the 15 March FOMC meeting. Pricing for a 25bp March rate hike stands at around 35% and in total there are only two hikes priced for 2017. In our view – following continued rhetoric from several FOMC voters that a March hike should not be taken off the table – the risk heading into the three events are skewed towards the market needing to increase pricing for Fed tightening and the USD strengthening in sympathy.

BofA Merrill: Risk of lack of sufficient details.

It feels like it has been a very long time coming, but markets will finally hear from President Trump at next week’s address to Congress. Anticipation is running high, and investors will be looking for clarity on the new administrations agenda. As we argued earlier this week, if fiscal progress is delivered, rates and the USD should move higher. The risk is that we do not get the level of detail on policies markets are waiting for.

Goldman Sachs: Political picture looking a little less rosy.

With President Trump set to address Congress tonight, the difficulty congressional Republicans have had on Obamacare does not bode well for quick progress on tax reform or infrastructure funding. This reinforces our view that a fiscal boost worth about 1% of GDP (largely via tax cuts) is primarily a 2018 story. In the meantime, Mr. Trump’s administrative actions on trade and immigration present downside risks to growth.

NAB: Difficult to see how Trump can offer real specifics?

All up, it is difficult to see how Trump can offer real specifics on how his programs will be financed – if that is what markets want to avoid a further clear-out of positions. By definition, what we’ve learnt so far suggests the details today will be sketchy – long on vision and passion, but short on specifics. That does not mean yields and the USD won’t get another small nudge up immediately, but price-action in recent weeks suggests markets want more and positioning, especially in bond markets, is weighing. Disappointment could set in fairly soon after. Then again perhaps we might have to wait until soon-to-be-seen headlines on the looming debt ceiling deadline of 15 March appear? Any move lower in yields will impact the USD and if the resulting market turbulence is sufficient, perhaps the Fed too, scotching any ideas of a March 15 hike.

UniCredit:��Market response depend on the question of border-adjustment taxes.

Today’s highlight is President Trump’s speech to Congress with everyone hoping for him to go beyond rhetoric and disclose some details of the new administration’s planned tax reform. As Andreas Rees highlighted in the Sunday Wrap, it is highly speculative to come up with a clear picture for markets ahead of any detailed announcement and the market response may heavily depend on the question of border-adjustment taxes, which in our view would have negative consequences not just for the main US trading partners but for the US itself. In the end, it would not be surprising to see US yields moving slightly higher across the curve due to a revival of the reflation trade story.

Lloyds: Too early to expect much.

Markets will be looking for more detail on both trade policy and his tax and spending plans. But, it may be too early to expect much, as reports suggest the administration have yet to fully agree on specifics. For now, agreement seems limited to some specific spending measures – an increase in defence expenditure but a reduction in environmental protection. A more comprehensive package, including tax changes, may only come later in the year. Even after that, the administration will need to get the agreement of Congress. Last week, the new Treasury Secretary Mnuchin said he hoped to reach agreement on tax changes before August, but warned it could take longer. All this suggests that the President may not have much to report, although he will likely be his usual combative self. 

Copyright © 2017 eFXplus™

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews http://feedproxy.google.com/~r/Efxnews/~3/E0Xyuon8Px8/usd-trading-trumps-address-congress-views-10-major-banks

[vtm-world]

Trump's National Debt?

Trump’s National Debt?

Trump’s National Debt?

See the real reason that America’s National Debt has increased under Trumps first term!

V.Thomas Mawhinney, 2/21/20

Where America goes to get the right story

Yes, the national debt is rising fast under Trump but here’s a hint: It’s not HIS fault

Posted on November 27, 2019 in Budget, Budget Deficit, Congress, Executive Branch, President Donald Trump

By…

[newssplashy]

Former presidents, world leaders, and Congress mourned Sen. John McCain's passing and offered their condolences for his family.

Sen. John McCain died on Saturday, one day after his family announced he would be discontinuing his brain cancer treatment.

Former presidents, world leaders, and Congress mourned his passing and offered their condolences for his family.

Sen. John McCain died on Saturday, one day after his family announced he would be discontinuing his brain cancer treatment.

McCain, a six-term US senator, earned both praise and criticism during his long tenure. But despite political differences, he earned the respect from his colleagues for his storied military service and plain-spoken views.

Former presidents, world leaders, and Congress mourned his passing and offered their condolences for his family.

Here's what they had to say:

Former President Barack Obama and first lady Michelle Obama

"John McCain and I were members of different generations, came from completely different backgrounds, and competed at the highest level of politics. But we shared, for all our differences, a fidelity to something higher – the ideals for which generations of Americans and immigrants alike have fought, marched, and sacrificed.

We saw our political battles, even, as a privilege, something noble, an opportunity to serve as stewards of those high ideals at home, and to advance them around the world. We saw this country as a place where anything is possible – and citizenship as our patriotic obligation to ensure it forever remains that way.

Few of us have been tested the way John once was, or required to show the kind of courage that he did. But all of us can aspire to the courage to put the greater good above our own. At John’s best, he showed us what that means. And for that, we are all in his debt. Michelle and I send our most heartfelt condolences to Cindy and their family."

Former President George W. Bush

"Some lives are so vivid, it is difficult to imagine them ended. Some voices are so vibrant, it is hard to think of them stilled. John McCain was a man of deep conviction and a patriot of the highest order.

He was a public servant in the finest traditions of our country. And to me, he was a friend whom I'll deeply miss.

Laura and I send our heartfelt sympathies to Cindy and the entire McCain family, and our thanks to God for the life of John McCain."

Former President Bill Clinton and former secretary of state and first lady Hillary Clinton

"Senator John McCain believed that every citizen has a responsibility to make something of the freedoms given by our Constitution, and from his heroic service in the Navy to his 35 years in Congress, he lived by his creed every day.

He was a skilled, tough politician, as well as a trusted colleague alongside whom Hillary was honored to serve in the Senate. He frequently put partisanship aside to do what he thought was best for the country, and was never afraid to break the mold if it was the right thing to do.

I will always be especially grateful for his leadership in our successful efforts to normalize relations with Vietnam. Our thoughts and prayers are with his wife, Cindy, his mother, Roberta, his children, and his entire family."

Former President Jimmy Carter

"John McCain was a man of honor, a true patriot in the best sense of the word.

Americans will be forever grateful for his heroic military service and for his steadfast integrity as a member of the United States Senate.

Rosalynn and I extend our sincere condolences to Senator McCain's family and to the people of Arizona whom he represented so forthrightly for so many years."

President Donald Trump

"My deepest sympathies and respect go out to the family of Senator John McCain. Our hearts and prayers are with you!," Trump said on Twitter.

United States Naval Academy

"The Naval Academy is mourning the loss of one of our most distinguished graduates, Sen. John McCain (USNA '58)," the United States Naval Academy, McCain's alma mater, said on Twitter. "His life of service to our country is a legacy that will continue to be revered."

Sen. Lindsey Graham

"America and Freedom have lost one of her greatest champions," Sen. Lindsey Graham of South Carolina, one of McCain's closest friends, said on Twitter. "And I've lost one of my dearest friends and mentor."

"I will need some time to absorb this, but I want Cindy —and the entire McCain family — to know they are in my prayers," Graham added.

Sen. Chuck Schumer of New York

"As you go through life, you meet few truly great people. John McCain was one of them.

His dedication to his country and the military were unsurpassed, and maybe most of all, he was a truth teller - never afraid to speak truth to power in an era where that has become all too rare. The Senate, the United States, and the world are lesser places without John McCain.

Nothing will overcome the loss of Senator McCain, but so that generations remember him I will be introducing a resolution to rename the Russell building after him."

Senate Majority Leader Mitch McConnell

"Today is a deeply sad day for the Senate and for our nation. Elaine and I join all Americans in mourning the passing of our dear friend and colleague Senator John McCain.

In an era filled with cynicism about national unity and public service, John McCain's life shone as a bright example. He showed us that boundless patriotism and self-sacrifice are not outdated concepts or clichés, but the building blocks of an extraordinary American life.

Generations of McCains have served in our great Navy. John followed their example with distinction. And from his cell in Hanoi to the halls of the Senate, he never stopped fighting with courage and determination – first for his country, then for the people of Arizona, and always for the ideals he believed in most.

It is fitting that this war hero and history-changing legislator should leave us as Chairman of the Senate Armed Services Committee. John was a constant advocate for his fellow veterans and those currently serving in uniform, standing up for the benefits and care they so earned by defending our freedom. His dedication to them is just one reason among so many why he earned the utmost respect of his colleagues on both sides of the aisle.

It's an understatement to say the Senate will not be the same without our friend John. I will treasure the many memories we've shared together through the years.

The nation mourns the loss of a great American patriot, a statesman who put his country first and enriched this institution through many years of service. The Senate is keeping Cindy, the McCain family, all John's friends and staff, and the people of Arizona in our prayers at this tremendously difficult time."

Sen. Ted Cruz of Texas

"Senator John McCain was a patriot, and an extraordinary American war hero.

Born into a storied Navy family, he spent his entire life in service to his country, including 22 years in the Navy, five and a half of which were spent under the boots of North Vietnamese communists in a Hanoi prison.

First elected to Congress during the Reagan Revolution, he championed the strong national defense that he knew would help ensure the survival of freedom and liberty across the globe. He did things his way, and conducted two campaigns for President of the United States with honor and integrity.

Today, the State of Arizona, and our entire nation, have lost a great public servant. He was larger than life. Although he and I sometimes disagreed, I was deeply privileged to serve with him and proud to call him a friend.

Heidi and I send our heartfelt thoughts and prayers to Cindy, and to the entire McCain family, as they grieve the loss of a loving husband, father, and grandfather. May he rest in peace."

Sen. Marco Rubio of Florida

"John McCain's sacrifices to his country are immeasurable. With his passing today, America has lost more than a leader and more than a senator. We have lost a true American hero.

As a colleague in the Senate and a friend, I drew personal inspiration from his leadership, intellect and moral courage. He set the standard for what we should expect from our soldiers and from our public servants of all levels.

In this time of grief, I hope John's family finds comfort in knowing that this extraordinary man touched countless lives, and his memory will continue to set the standard of leadership and moral resolve for future generations."

via Nigerian News ➨☆LATEST NIGERIAN NEWS ☆➨GHANA NEWS➨☆ENTERTAINMENT ☆➨Hot Posts ➨☆World News ☆➨News Sp

[newssplashy]

Politics: Trump's fight with Turkey is helping Russia and Iran

NATO's largest standing army in Europe is now cosying up to Iran and indebted to Qatar. Russia and China could be waiting in the wings to get closer to Turkey too if the US continues its tariffs.

Trump's trade war is driving Turkey into the arms of Iran and Qatar.

Russia and China won't mind that at all.

What does the US gain from all this?

Trump might get that preacher back.

And, er ... that's it.

LONDON — Late on Thursday night, the White House threatened further economic sanctions against Turkey if it fails to release detained American pastor Andrew Brunson.

Brunson has been under house arrest for almost two years in Turkey for his alleged links to a banned Turkish political movement. Efforts to free him are at the heart of the current economic and diplomatic spat between the US and Turkey.

The Turkish lira fell nearly 5% on Friday in reaction to the fresh US sanctions. US President Donald Trump probably thinks he is winning his trade war against Turkey. His "cherished DOLLAR" is "very strong."

The reality, however, is that Trump is strengthening alliances between countries that don't have America or the West's best interest's at heart. By punishing Turkey with sanctions, he is only pushing the country closer to other nations who see the strategic importance of having Turkey on their side.

There were two clues to that last week:

IRAN: Turkish finance and treasury minister Berat Alkayrak told investors on a conference call that "We don't expect fines on Halkbank." Those six words will be meaningless to most people outside Turkey. But they are hugely significant. Halkbank violated economic sanctions against Iran. One of its executives was sent to prison in the US. The implication is obvious: Turkey will be siding with Iran on this issue. Iran, obviously, is a historic sponsor of terrorism.

QATAR: The kingdom gave a $15 billion rescue loan to Turkey last week. Qatar also sponsors terrorism. Qatar is so corrupt it's comical: This is the country that paid bribes to host the 2022 World Cup in the desert.

This map says it all. Trump's trade war is solidifying Turkey's ties to Iran and Qatar.

To get an idea of how big a loss this is to the West, consider that just eight years ago Turkey was on the verge of gaining full membership of the European Union. It was a democratic nation that abolished the death penalty. It was finally ready to turn away from the dictatorships of the Middle East and join the alliance of North American and European nations who believe in democracy, the rule of law, and civil rights.

There were many steps in the undoing of that alliance, not least Germany balking at the idea of 80 million Muslims suddenly getting the right to live wherever they want. That fed the paranoia of Turkish President Recep Tayyip Erdoğan, an Islamist autocrat, that Europe was basically for white Christians not brown Muslims.

Regardless of how we got here, the reality is NATO's largest standing army in Europe is now cozying up to Iran and indebted to Qatar. Trump should be trying to get Turkey back on side with the West rather than levying huge punishments to secure the release of one man.

The Turkish economy will continue to need all the trade it can get and right now Qatar and Iran look like less burdensome partners. Russia and China are waiting in the wings too, according to Reva Goujon, the VP of Global Analysis at Stratfor. Turkey already has a defence cooperation agreement with Russia and China has Erdogan on board for its massive Belt and Road infrastructure initiative.

Much of Turkey's pain is self-inflicted. Erdogan's mismanagement of the Turkish central bank may further devalue the lira. This, after all, is the man who sincerely believes that "When you look at the cause and effect relationship, the interest rate is the cause and inflation is the result. The lower the interest rate is, the lower inflation will be." (Literally, the opposite is true.)

The endgame — if it comes to a balance of payments crisis — may involve a rescue package from the IMF. From the perspective of London and Washington, that might look like a mechanism to bring Turkey back into the fold. Surely the Turks will be grateful for the largesse of our interest-bearing credit!

To Erdogan, that credit will look like the kind of debt-load that crushed Greece. Erdogan continues to suspect that the machinations of the West are merely callbacks to the 1920 Treaty of Sevres, through which the Western nations dismembered the Ottoman Empire.

What will the US get out of this? The rising dollar may well crush the feeble lira, but it's hard to see how that benefits Americans. (Some inside the Trump Administration seem to think the dollar is already too strong.) Maybe America will get Andrew Brunson back. But he's just one guy, caught preaching in the wrong place at the wrong time.

The price of those "victories" will be the strengthening of ties between Turkey, Russia, China, Iran and Qatar, and Turkey's further alienation from the West.

More on the Turkish lira crisis:

The crisis in Turkey is being caused by the US Fed, and we are only at the beginning

UBS: Turkey could be heading into a balance-of-payments crisis

The reason Turkey's economic collapse is so scary is that Iran, Russia, and Syria are waiting in the wings

The lira's crash 'looks certain to push the Turkish economy into recession and may well trigger a banking crisis'

Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work

source http://www.newssplashy.com/2018/08/politics-trumps-fight-with-turkey-is.html

[newssplashy]

NATO's largest standing army in Europe is now cosying up to Iran and indebted to Qatar. Russia and China could be waiting in the wings to get closer to Turkey too if the US continues its tariffs.

Trump's trade war is driving Turkey into the arms of Iran and Qatar.

Russia and China won't mind that at all.

What does the US gain from all this?

Trump might get that preacher back.

And, er ... that's it.

LONDON — Late on Thursday night, the White House threatened further economic sanctions against Turkey if it fails to release detained American pastor Andrew Brunson.

Brunson has been under house arrest for almost two years in Turkey for his alleged links to a banned Turkish political movement. Efforts to free him are at the heart of the current economic and diplomatic spat between the US and Turkey.

The Turkish lira fell nearly 5% on Friday in reaction to the fresh US sanctions. US President Donald Trump probably thinks he is winning his trade war against Turkey. His "cherished DOLLAR" is "very strong."

The reality, however, is that Trump is strengthening alliances between countries that don't have America or the West's best interest's at heart. By punishing Turkey with sanctions, he is only pushing the country closer to other nations who see the strategic importance of having Turkey on their side.

There were two clues to that last week:

IRAN: Turkish finance and treasury minister Berat Alkayrak told investors on a conference call that "We don't expect fines on Halkbank." Those six words will be meaningless to most people outside Turkey. But they are hugely significant. Halkbank violated economic sanctions against Iran. One of its executives was sent to prison in the US. The implication is obvious: Turkey will be siding with Iran on this issue. Iran, obviously, is a historic sponsor of terrorism.

QATAR: The kingdom gave a $15 billion rescue loan to Turkey last week. Qatar also sponsors terrorism. Qatar is so corrupt it's comical: This is the country that paid bribes to host the 2022 World Cup in the desert.

This map says it all. Trump's trade war is solidifying Turkey's ties to Iran and Qatar.

To get an idea of how big a loss this is to the West, consider that just eight years ago Turkey was on the verge of gaining full membership of the European Union. It was a democratic nation that abolished the death penalty. It was finally ready to turn away from the dictatorships of the Middle East and join the alliance of North American and European nations who believe in democracy, the rule of law, and civil rights.

There were many steps in the undoing of that alliance, not least Germany balking at the idea of 80 million Muslims suddenly getting the right to live wherever they want. That fed the paranoia of Turkish President Recep Tayyip Erdoğan, an Islamist autocrat, that Europe was basically for white Christians not brown Muslims.

Regardless of how we got here, the reality is NATO's largest standing army in Europe is now cozying up to Iran and indebted to Qatar. Trump should be trying to get Turkey back on side with the West rather than levying huge punishments to secure the release of one man.

The Turkish economy will continue to need all the trade it can get and right now Qatar and Iran look like less burdensome partners. Russia and China are waiting in the wings too, according to Reva Goujon, the VP of Global Analysis at Stratfor. Turkey already has a defence cooperation agreement with Russia and China has Erdogan on board for its massive Belt and Road infrastructure initiative.

Much of Turkey's pain is self-inflicted. Erdogan's mismanagement of the Turkish central bank may further devalue the lira. This, after all, is the man who sincerely believes that "When you look at the cause and effect relationship, the interest rate is the cause and inflation is the result. The lower the interest rate is, the lower inflation will be." (Literally, the opposite is true.)

The endgame — if it comes to a balance of payments crisis — may involve a rescue package from the IMF. From the perspective of London and Washington, that might look like a mechanism to bring Turkey back into the fold. Surely the Turks will be grateful for the largesse of our interest-bearing credit!

To Erdogan, that credit will look like the kind of debt-load that crushed Greece. Erdogan continues to suspect that the machinations of the West are merely callbacks to the 1920 Treaty of Sevres, through which the Western nations dismembered the Ottoman Empire.

What will the US get out of this? The rising dollar may well crush the feeble lira, but it's hard to see how that benefits Americans. (Some inside the Trump Administration seem to think the dollar is already too strong.) Maybe America will get Andrew Brunson back. But he's just one guy, caught preaching in the wrong place at the wrong time.

The price of those "victories" will be the strengthening of ties between Turkey, Russia, China, Iran and Qatar, and Turkey's further alienation from the West.

More on the Turkish lira crisis:

The crisis in Turkey is being caused by the US Fed, and we are only at the beginning

UBS: Turkey could be heading into a balance-of-payments crisis

The reason Turkey's economic collapse is so scary is that Iran, Russia, and Syria are waiting in the wings

The lira's crash 'looks certain to push the Turkish economy into recession and may well trigger a banking crisis'

Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work

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