Twister ๐ฑ ✡️๐ป ๐ฑ ๐๐ข ๐ณ️
War and Debt: With bombs and missiles not doing the job, Trump has pivoted to threatening to destroy Iran’s economy, by taking “the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY.” His Truth Social post is being echoed by Treasury Secretary Bessent who says that the threatened economic action will begin on Monday which sounds an awful lot like a version of Trump’s “in two weeks.” Bessent, who also said that he doesn’t understand the spike in oil prices and that fewer jobs are okay because we’ve deported so many workers, is either very stupid, really disingenuous or both. It’s not just oil prices that are spiking; long term Treasury rates are too, they’ve reached levels not seen since 2007. To quote economist/Wharton professor Mohammed El-Erian who called the rise in Treasury yields “breathtaking,” the rate increase is due to “stubborn” inflation, government debt ballooning to $40 trillion and fiscal deficits, and the “sting of higher gas and diesel prices due to the war in Iran” combined with the “staggering” growth in borrowing by technology companies and the “diminished appetite” for Treasuries by traditional international purchasers. In layman’s term, Trump’s tax cuts plus war plus the enormous funding requirements to build AI infrastructure plus fewer Treasury buyers equals higher borrowing costs, including mortgage rates. Remember when Trump said that he’d eliminate the national debt, lower interest rates, get rid of “Biden’s” inflation, and that his Iran war would be over in four to five weeks. Forget about it.
Peeps: In 2003 Barbra Streisand sued a photographer for sharing an aerial view of her Malibu home. Prior to her lawsuit only a handful of people had downloaded the photo, as a result of her lawsuit it went viral and thus the term Streisand Effect entered the vernacular. Trump aide Natalie Harp, who one media outlet is now referring to as one of his “peroxide blonds” and who the NY Times’ Maggie Haberman calls his binky is experiencing her Streisand moment, the result of Trump’s minions protesting far too much about the stories concerning her uniquely bizarre behavior as Trump’s current it girl. It’s not clear who has been leaking all the details about Natalie to the press, some have suggested that the source is his peeved outgoing Press Secretary Leavitt, but the leaks are oddly funny, particularly her running alongside Trump’s golf cart and the over the top love notes she gives him not to mention her jumping into the trunk of his SUV and the printer she always carries slung over her shoulder while teetering on her de rigueur nude colored heelers. Possibly in an effort to push back against all the attention Natalie has been getting, Trump rolled out the infrequently seen Melania yesterday who judging by her comment that she’s heard she was missed, is in on the joke. While Natalie doesn’t appear to be going anywhere, Trump has lost another senior staff member. James Braid who’d served as the director of legislative affairs has joined the other ๐ ๐ abandoning the ship. On the subject of ships, the Navy is “considering” changing the USS Doris Miller’s name to the USS Donald Trump. The ship is the first air force carrier named after a Black soldier, a hero of Pearl Harbor, while Trump is someone who had faux heel spurs. In other people news, former Congressman Eric Swalwell’s home was searched by the FBI which left with a number of his electrical devices and Democratic Congressman Jimmy Gomez is being investigated for sexual harassment by the House Ethics Committee. Then there is Lindsey Graham’s sister Darline, the Trump endorsed interim South Carolina Senator. She flubbed a question about Taiwan during a Tuesday debate with her Republican primary runoff opponent Ralph Norman saying that she wasn’t “informed on national security” because it isn’t her thing. She may know nothing about international affairs, but she certainly knows a lot about Republican priorities because on Wednesday during an appearance on Fox she said her flub didn’t matter because South Carolinians are more concerned about boys playing girls' sports than about tensions between "enemy" China and "friend" Taiwan.
MAHA Not: Trump has nominated White House advisor Dr Heidi Overton to be the next head of the FDA. Overton has questioned the safety of “medication abortion,” saying that the FDA was wrong to allow mifepristone to be prescribed by telehealth. An RFK acolyte, she called Trump’s executive order changing the childhood vaccine schedule a “historic action” (historically stupid?) and backs his call to break up the MMR shot. Dead Man Walking Senator Bill Cassidy whose support she’ll need for confirmation has “reservations” about her but then again he had concerns about RFK and about Todd Blanche and ultimately voted to confirm both even though he knew he shouldn’t. We may be about to see another one of those “we know she’s awful, but Trump wants her” votes with Susan Collins getting an election year pass and Lisa Murkowski walking to the beat of an Alaskan drum.
More ๐ฉ: ABC/Disney is suing the FCC for trying to take away some of its broadcast licenses for failing to adequately kowtow to Trump’s whims. After a too long stay at sea, the USS Lincoln which Trump said wasn’t at sea long enough is on its way home. Secretary of War/Beer Hegseth insists that all was hunky-dory aboard the ship, but it wasn’t. It wasn’t just low morale, there really was a supply shortage, the result of Iran’s attacks on the Navy’s storage facilities in the region, something that Hegseth doesn’t want to talk about. On the election front, assuming we have elections, the Cook Political Report has moved Texas’ and Iowa’s Senate races from Lean Republican to Toss-Up. They’ve also moved Texas’ Governor race from Solid R to Lean R and Iowa’s from Toss-Up to Lean Democrat. ๐ ๐คท♀️ And maybe in an omen of things to come, there was a tornado on Long Island last night.