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Latest News:
The Trump Organization's finance boss, Allen Weisselberg, has reportedly been granted legal immunity in the probe into Michael Cohen, Donald Trump's longtime former lawyer. Mr Weisselberg is reportedly mentioned on a tape secretly recorded by Cohen in 2016 in which a hush money payment to an alleged lover of Mr Trump is discussed. On Thursday August 21, it emerged that David Pecker, head of the company that publishes the National Enquirer tabloid, was also given immunity. BBC - Al-Jazeera - US media on August 24, 2018. |
After Trump's former lawyer Michael Cohen admitted in court his participation in the paying out of two playmates on behalf of his boss, Trump could do nothing else but officially state that such paying out was made with his own money and not with funds intended for his election campaign. While Cohen is now on the doorsteps of jail after having pleaded guilty on different charges regarding illegal financial behaviour and false statement, walls are further closing in on Trump whose former campaign manager Paul Manafort has been equally found guilty of illegal financial action. Cohen who paid off to the state attorney and Manafort who kept silent on Trump's involvement are differently treated in the president's public statements. While Manafort could even hope for Trump's personal support, Cohen is being described by his longstanding employer as a corrupt and treacherous liar and which raises the question why he has survived as an important member of Trump's inner circle for such a long time. At least some personal "qualities" of Cohen should have been of value for Trump.
Now, when the word goes about an impeachment process that could be started after the Democrats won enough additional seats in the House of Representatives in the midterm elections, Trump is threatening, both, opponents and followers with the cruel scenario of an economic breakdown. Such disaster should certainly follow as Trump, according to his own evaluation, has " made such a good job ".
Here now tomorrow's news on the impeachment subject :
Trump’s Strong-Dollar Weakness published on August 22, 2018, by Project Syndicate :
The Trump administration would like us to believe that the dollar’s rise reflects faster economic growth, driven by deregulation, tax cuts, and expanded defense spending. But, if anything, Trump's economic agenda is creating inflationary pressure and undercutting the "exorbitant privilege" that the dollar has long conferred on the US.
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After all, a strengthening dollar increases the price of exports abroad and lowers the domestic cost of imports, thus discouraging the former and encouraging the latter. That is directly at odds with Trump’s stated goal of reducing the US trade deficit.
Trump’s obsession with the trade deficit has led him to impose import tariffs on steel, aluminum, and a wide range of products from China. But, ironically, more expensive imports will also put upward pressure on the domestic inflation rate, which could force the Federal Reserve to raise interest rates even faster than planned. That, in turn, would produce still more dollar appreciation and even bigger trade deficits, as happened under Reagan and Bush.
[Project Syndicate: An organization providing high-quality commentaries written by prominent political leaders, policymakers, scholars, business leaders, and civic activists from around the world.]
" From Russia with Love " - A recent Moscow visitor to " blueprint news ".
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