Comrade HRH Donald J Trump

The New York Times has done a real public service. It has printed an extraordinary interview with president Trump that begins on the front page. The interview was lightly edited for length and to  provide confidentiality for discussions that were off the record. The interview with four NY Times reporters took place over two plus hours and occurred on January 11, 2026. The final story  contained 23,000 words and scores of questions. 

Despite the editing for length the story is a long read. But it  should be read by everybody. 

The subjects that came up for discussion included Trump’s view of his powers as commander-in-chief, the fatal ICE shooting in Minneapolis, immigration, Venezuela, the war in Ukraine, Greenland, NATO, Trump’s health and possible plans for additional White House renovations. 

It did not cover the recent opening of a criminal investigation of Fed Chairman Jerome Powell, probably because that news came out after the interview was conducted. 

First Impressions

It became increasingly clear as the interview progressed that Donald J Trump accepted, albeit unknowingly, some key premises of progressive ideology. From the remarks he made to policy decisions he defended he displayed a collectivist philosophical bent although he is probably unaware of it.

As usual Trump spoke in the vernacular. His grammar was atrocious and he routinely misstated facts. For instance, of NATO he said “…They raised their G.D.P. to 5 percent from 2 percent. They didn’t pay the 2 percent, then they pay the 5 percent.” What he was actually referencing was the percentage of their GDP that our NATO allies promised to pay for defense—not actual GDP. By the way, don’t hold your breath waiting for 5% to actually be spent. 

Trump’s Underlying Philosophical Leaning

In the discussion that focused on Venezuela David Sanger (of the Times) brought up the whole subject of international law and asked Trump whether or not he had effectively given either Russia or China a pass on aggression. The planted axiom of course being that either of those parties are constrained by international law rather than Western Power. Then Katie Rogers of the Times asked  “Do you see any checks on your power on the world stage? Is there anything that could stop you if you wanted to?

Trump’s answer was truly remarkable. In it he demonstrated that he was in agreement with a core tenet of progressivism. He replied “Yeah, there is one thing. My own morality. My own mind. It’s the only thing that can stop me, and that’s very good.” 

At that point a reporter named Zolan Kanno-Youngs asks “Not international law?” Trump’s response: “I don’t need international law.”

Here he is crystal clear about what he really believes: his omniscience. He will abide no external constraints. The only thing that matters to him is what he wants when he wants it. And what he wants is, by definition, good. Also note that his view of law is purely instrumental. He doesn’t dispute or discuss the idea of law; his sole reference at that point is whether he can use it.

Question: How is he any different from Elizabeth Warren or Bernie Sanders or Zohran Kwame Mamdani or any of that lot? For them and for Trump it is quite clear. They are of the opinion that law is merely a tool to be used. But it should not be used to constrain them.

For instance, along with Senator Sanders (ME-Democratic Socialist) and Josh Hawley (MO-R), Trump wants to cap interest rates on credit cards. Not only that: He has ordered Freddy Mac and Fannie Mae to buy $200 billion in mortgages in an attempt to lower mortgage rates. He has taken stakes in American companies for a share of the revenue. He claims he will forbid defense contractors from paying dividends or buying back stock. He has used his leverage over Medicare to fix prices. He has intimated that Exxon will be excluded from Venezuela because its CEO said that the country is “univestable”. 

And to top it off, his Justice Department has launched a criminal investigation of Fed Chair Jerome Powell, although it is unclear whether Trump himself had anything to do with it. This whole fiasco calls to mind a remark made by Henry Kissinger during the Watergate saga. Kissinger is reported to have said something to the effect that “some damn fool did what the president wanted.”

The list of horribles goes on, seemingly endlessly. If a Democratic president were to launch any of these initiatives, the Republicans would be screaming socialism from the rooftops. And essentially they would be right. The fact that the label after the name says Republican doesn’t alter that. 

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Central Planning vs. Inherent Rights

In the words of Richard Nixon, we are all central planners now. And the tools that central planners have always used are getting a full workout. State coercion, the abegnation of individual rights, the denial of individual dignity, the destruction of due process, are on full display. The State reigns supreme.

Parenthetically we should note however that language matters. The Bill of Rights is phrased in the negative. “Congress shall pass no law…”. There was a reason for that treatment. The rights encapsulated in the Bill of Rights were thought to inhere to the individual, not the State. Hence Congress shall pass no law. 

While the US Constitution laid out the mechanics of the divisions of power, rights and responsibilities, it was the Declaration of Independence that provided the philosophical basis for it. “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness…”

But that idea has gone right out the window. Rights are phrased as positives and are simply a matter of convenience—for the central planners. You have a “right” to decent housing, to a basic income, to health care etc. Which, by definition gives central planners the coercive power to extract resources and then to redistribute them. This, of course, gives central planners a powerful incentive to continually extract and redistribute those resources to those deemed worthy of state largesse. Which tends to be voting blocs that turn out in force on election days. Which is also why we have managed to accumulate $30 trillion worth of public debt.

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Trump the Mercantilist

With that in mind, let’s talk about Greenland. After pointing out that we could reopen 16 of our our military bases there, David Sanger asked president Trump why it was important for the US to own Greenland. 

David E. Sanger

“Why is ownership important here?”

President Trump

“Because that’s what I feel is psychologically needed for success. I think that ownership gives you a thing that you can’t do, whether you’re talking about a lease or a treaty. Ownership gives you things and elements that you can’t get from just signing a document, that you can have a base.”

At that point Katie Rogers asks a piercing, perhaps the piercing question.

Katie Rogers

“Psychologically important to you or to the United States?”

President Trump

“Psychologically important for me. Now, maybe another president would feel differently, but so far I’ve been right about everything.”

Then Trump was asked about the use of force to acquire Greenland. His answer: “Yeah, I wouldn’t comment on that. I don’t think it’ll be necessary.”

When pressed by David Sanger he replied:

“It’s possible, if I needed it. It might upset NATO. Look, we spend a lot of money on NATO. You know a lot of people don’t think NATO is to our benefit. We’re out there fighting with Russia, stopping Ukraine from being decimated and all of the things that we do — spend a lot of money. It’s thousands of miles away. We have a big ocean in between us. We’re helping Europe, but we spend a tremendous amount of money on NATO and frankly, you know, other than the fact that I get along — I get along with virtually every leader really well, and they wouldn’t have done that.”

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Trump, Democratic Legitimacy and the Rule of Law

After a while the reporter Zolan Kanno-Youngs asks him if judges have the authority to prevent him from what he wants to do with respect to domestic policy. 

Trump gives an answer that Oliver Wendell Holmes could be proud of. Wendell Holmes, a man enamored with the idea of the popular will said that “I will give the people what they want if it takes me to hell.” 

Trump frames his answer to the Kanno-Youngs question with respect to the will of the people, not the protection of individual rights.  Responding to the  question of whether judges have the authority to restrain him, Trump says:

“Well, I think they do under certain circumstances, but I think I have the right to. You know, I was elected on law and order, among other things. The border, law and order, the strong military — all the things that I’m doing a really good job of.”

So, once again Trump displays his progressive bona fides. For the moment leave aside the narcissism (“I’m doing a really good job”) and note his assertion that he is following the popular will. He claims he was elected on a law and order platform and so therefore “the people” have given him legitimacy. In true progressive fashion, his legitimacy comes from following the will of the people.

Which is to say mob rule. There is no room for any  countervailing power. There is no brooking of dissent. There is no room for individuals because the State, or better yet it’s maximum leader, is all important. 

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Trump On Prices

President Trump, like most presidents and virtually all progressives, is terrified of prices freely negotiated by free people in free markets.  Here he is on drug prices. 

“I’m lowering the drug prices. I’m lowering the drug prices down to what the lowest price anywhere in the world is, so that we won’t be paying the highest prices. We’ll be paying the equivalent of the lowest prices. And this is something that people can’t believe this happened, because depending on the way you want to do your math, it could be thousands of a percent, or it could be 90 percent or 80 percent. It’s called “most favored nation.” So you take the nation that’s the lowest, the absolute lowest in the whole world — that’s what we’re paying. And no nation agreed to it.”

And I called the nations, and I said to the prime ministers and presidents, “You have to do it.”

Ignoring the bravado for a moment, what he is really talking about is that other countries subsidize drug prices through their government run health care systems, which by the way, are going broke. So while they avoid, for now, paying higher drug prices they simply pay higher taxes instead and have less choice and less innovation in health care.  

Right from the Bernie Sanders playbook. 

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On Taking Stakes in US Firms

In keeping with his view that his powers are unconstrained, Trump bragged about his deals with Intel and Nvidia. In return for allowing certain chips to be sold into China, the US Government receives a 25% cut of the revenue. The US Government also got a 10% stake in the equity of Intel. 

Here is part of the conversation with David Sanger about those deals.  

David E. Sanger

Would the old Republican Party have done that? I mean —

President Trump

The old establishment, no.

David E. Sanger

That would’ve sounded a little bit like state socialism to them, right?

President Trump

Yeah, would they have done that? No, because they were stupid. OK, we have a number of deals that are going through right now. I say the United States should be entitled to a piece of those deals, because without the United States, those deals couldn’t be done.

________________________________________________

Zohran Kwame Mamdani, the new mayor of New York City, who ran and was elected as a Democratic Socialist, couldn’t have said it better.

JFB

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More on Minneapolis

Mounting outrage over an ICE agent’s killing of a woman in Minneapolis spilled into streets across the country on Saturday, as crowds of protesters mobilized against what they called the excesses of the Trump administration’s mass deportation campaign. 

The New York Times January 10, 2026.


So now we have plenty of outrage over the killing of a Minneapolis citizen by an ICE officer during a deportation event. The only thing we lack are facts. 

Immediately after the shooting, the combatants confidently began to frame a narrative around the events that had just taken place. The protesters led by arguing passionately that the shooting was legally unjustified. Contrary to that, others insisted that not only was the killing justified, but that the deceased woman had herself committed a crime by interfering with a legitimate police action. 

Neither side gave any indication of having sufficient evidence to back up their respective claims. On the one hand Mayor Jacob Frey, after viewing a tape of the incident, announced that the assertion the ICE agent acted in self-defense was false; that the claim that Ms Good “ran over” the ICE agent was “bullshit.” He went on to say that ICE should “…get the fuck out of Minneapolis.” He described the federal response as reckless, claiming that the footage he viewed did not support a self-defense claim. Then he urged the protesters to remain peaceful and not escalate tensions. 

Enter Kristi Noem, Director of Homeland Security. Ms. Noem sprang to the defense of the ICE agent saying that the agent acted in self-defense. She claimed that Good “attacked ICE and those surrounding them and attempted to run them over with her vehicle.” 

JD Vance chimed in by blaming what he characterized as the “far left,” liberal cities, and media coverage for creating a hostile environment for law enforcement. He described Ms. Good’s death as “a tragedy of her own making” and went on to say that Good was a “victim of left-wing ideology.”

Needless to say, none of this amounted to much more than theatre. No one produced any evidence whatsoever that clearly supported their preferred position.  They only offered undocumented impressions, which is to say opinions, that aligned with their political stances. Which is something worth talking about.

(A side note. I have attached to this document an analysis of the legal issues involved, written by Jeb Rubenfeld, a professor of Constitutional Law at Yale Law School.) See this link.  http://www.onlibertywatch.org/wp-content/uploads/2026/01/The-Free-Press-The-Legal-Stakes-for-the-Minneapolis-ICE-Shooter.pdf

There is a good deal of chatter among the participants about the importance of the rule of law.  But that conversation conflates law and policy. The pros and cons here have to do with policy preferences, not abstractions about the rule of law. 

I, for one, think that the Trump Administration has gone way overboard in adopting a mass deportation strategy. Saying that though raises a serious question. Does anybody seriously doubt that the Executive branch is responsible for enforcing the law as it is written? If not then what is to prevent the Executive from announcing that it will refuse to enforce the tax code on upper-income earners. High income earners would be able to simply ignore what had previously been their tax obligations. That is worth thinking about. 

There are also jurisdictional issues that need to be considered. There are also questions about which shot was the “kill shot” and whether it matters. Jeb Rubenfeld considers these questions in the attached brief. 

When it comes right down to it, the problem that exists resides with Congress. The last time Congress enacted a major overhaul of immigration law was 40 years ago. In 1986, during the Reagan Administration, Congress passed the Immigration Reform and Control Act. Since then all changes have been made administratively or have been on the margin. 

The reason for Congressional paralysis is fairly straightforward. Three factors are responsible for this. (1) Congress has gotten out the habit of passing actual laws. They pass aspirational wish lists and let the bureaucracy make the hard decisions, if it even comes to that. (2) Passing actual legislation with designated policy after a thorough and informed debate that reaches a consensus has become a thing of the past. (3) With an electorate that is (and has been) polarized for about 40 years, developing a reasonable consensus is an exercise in frustration. It also requires leadership, which we sadly lack, and have lacked for quite some time. 

Now, instead of passing laws, legislators have been busy building their personal “brands”.  Think Marjorie Taylor Green or Alexandria Ocasio-Cortez. With the advent of campaign finance “reform” party discipline has vanished and political entrepreneurship has replaced regular order. Fiery speeches (largely brimming with stupidity) and executive orders now act as replacements—until the next administration comes along and changes course. 

JFB

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Donald J Trump and Cory Booker: Two Peas in a Pod

The shooting of Renee Nicole Good by an ICE agent in Minneapolis is the latest event to bring to the surface the absurdities and contradictions of the political moment in which we live. As soon as the shooting took place the players assumed their pre-ordained positions and began to compete to frame the “narrative” of what happened. 

The word narrative is in quotes because it represents one of those mindless formulations that allows the combatants to head into battle without mentioning the word truth. All that matters is controlling the story—i.e., the narrative. 

By now many cell-phone videos have been released that purport to clarify what actually happened. None is conclusive.  And in any event these efforts are doomed to failure. They will fail because by and large the contestants are not acting in good faith. 

First, the varying contenders have already concocted back-up stories in the event they are proved wrong. Second, the standard for a federal criminal charge depends crucially on whether the agent in question honestly believed his life was in imminent danger. The armchair generals representing the respective sides have already decided that question; not on the merits, but on the politics of the matter, both local and national.

Note that the entire discussion has focused on whether the shooting itself was justified. But 18 U.S.C. § 111 and related provisions make it a crime to assault, resist, or impede federal officers — whether by bodily force or by using a vehicle in a threatening manner. If it turns out that Renee Good acted in such a manner, then she would be the responsible party under the law. That has not received any serious discussion. 

Another fact that should be taken into consideration is that the politicians leading the charge have amassed impressive reputations as liars. Neither president Trump  nor Governor Walz (or their administrations) has given us any reason to put any trust whatsoever in either of them. President Trump wouldn’t recognize the truth if it bit him, and neither would Governor Walz. 

One of the great ironies of this situation is that (1) the two sides hate each other and (2) even if they don’t recognize it, they are in radical (if erroneous) agreement about the methods they use to justify their behavior. They simply disagree about their preferred outcomes. And neither is above fanning the flames to achieve their preferred political goals.

Consider one of the mindless pronouncements president Trump made the other day according to the New York Times. Trump Lays Out a Vision of Power Restrained Only by ‘My Own Morality’ Headline NY Times Page A1 January 8, 2026. 

Now, how is that any different from the following quote from Senator  Cory Booker (D-NJ) who said “I want to be able to speak my mind, tell my truth and remain authentic.” Diane Rehm Show interview (and there are plenty of others like it.) 

Short answer: It isn’t different at all.

Neither Donald J Trump, nor Corry Booker (and a whole lot of others, but primarily progressives), believe that there is such a thing as The Truth. It all depends on several favorite phrases of progressives, for instance “lived experience” or “context” or “it depends on where you sit”.  Which is not to deny that context etc is important. It is. 

But acknowledging the importance of context is not the same as denying that truth exists. To deny the idea of truth—even if we can never say that we know exactly what it is—is to deny the spiritual side of man that searches for transcendence. It leads to the seemingly bland assertion that the importance of an education is that it “teaches people how to think.” It throws out Mathew Arnold’s famous dictum that education consists of “The best that has been thought and said.”  

For the likes of Donald Trump and Cory Booker et.al. there is no such thing as right and wrong. After all, who are we to say that X is even preferable to Y, much less right or wrong? Are not all cultures and civilizations equal?

For the progressive mindset it is really about power and control. Michael Foucault for instance argued that power and knowledge aren’t separate; scientific/expert knowledge creates categories e.g.—criminal, homosexual, insane that exert power by defining and correcting behavior. 

Who can deny that is what the modern political class believes? They don’t deny the method, they just look for different outcomes and so they differentiate the incentive structures they impose.  The power to create those incentives and to try to control behavior is their goal. 

Ultimately they believe that man is a blank slate and a slave to his passions. In this view, mankind is not a collection of individuals. Instead mankind represents a collection of identity groups, to be catered to or not depending on who holds power. 

Progressives want to create a new man, for a utopia on earth.  People are not individuals, each with his own thoughts, hopes, dreams and aspirations.  They represent that statistical abstraction so favored by social scientists: populations. People are merely automatons that respond to certain stimuli in the aggregate. 

Any who doubts this, should consider the inaugural  address of  Zohran Mamdani, New York’s new mayor. Mamdani ran as a Democratic Socialist and has said he intends to govern like one. In his address he said wanted to “replace the frigidity of rugged individualism with the warmth of collectivism.”

Strap in. 

JFB

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“My Truth, Your Truth” and The End of Truth

Watch Melanie Phillips.

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“Bondi is Coming Here” — Bret Stephens Interviewed by Benjamin Anthony of the MirYam Institute

Bret Stephens, a New York Times columnist, makes some fascinating (and trenchant) observations when he is interviewed by Benjamin Anthony, co-founder and CEO of the MirYam Institute. This 24 minute You Tube interview is definitely worth the time. You can see it below.

JFB

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Can Civilization Survive? A Conversation with Douglas Murray and Brendan O’Neill

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An Example of Why the Press Lacks Credibility

In a story published by the New York Times this morning the headline reads: As U.S. Guns Pour Into Canada, the Bodies Pile Up. So with that assertion in hand, the Times invites us to buy into the assumption, proclaimed to be universal truth by gun control fanatics everywhere, that the mere existence of guns is a cause of “gun violence”. 

The Times’ story notes that 

“American firearms are spilling increasingly into a country where gun control is far stricter than in the United States, according to government data and the authorities.”

It is important to note that not only is the preceding sentence manifestly false; the Times’s interpretation of the situation is incorrect and the underlying data is problematical.

First things first. There is an obvious question, namely this. If gun control in Canada is far stricter than it is in the US, then how is it that guns are increasingly spilling into Canada from the US? A reasonable conclusion to draw is that enforcement of gun control measures in Canada is very lax, which calls into question just how strict Canadian laws are in practice. A second question concerns whether it is it in fact correct that guns from the US are ‘increasingly spilling’ into Canada and if so, if that increase is causally related the increase in murders.

The Times article uses gun seizures at the border as a measure that captures the quantity of guns that slip over the border from the US. Note that the incidence  of seizures may or may not be related to the quantity of guns entering the country. Note too that the number of seizures may or may not be related to the number of crimes committed with those guns. 

Nevertheless, the Times insists on claiming (implicitly) that an increase in guns from across the border necessarily implies an increase in crime. But the number of gun seizures at the border has, in recent years, gone down rather than up. See the graph below.

Still, the Times insists that 

”…The proliferation of illegal guns from the United States has fueled bloodshed in Canadian cities and even in remote northern communities.” 

However, notwithstanding the Times’s assertions, both the number of homicides and the homicide rate in Canada have remained essentially flat for the last 5 years, according to the central statistics office in Canada. See the graph below. (Years from 2019 through 2024).   

It may very well be the case that the murder rate has actually risen in Canada. But the Times article doesn’t reflect that. It actually shows the opposite. But even disregarding that, the Times article fails to show a causal link between an increase in crime and an increase in guns—legal or otherwise. 

The article does illustrate one thing that any economics student could predict. 

According to the article “…The price of trafficked guns has risen sharply in recent years…Today, a handgun bought in Florida for $500 can fetch up to $4,300 in southern Ontario…”

The article notes that

“In 2023, Canada further tightened control over handguns, making them virtually impossible to buy or transfer legally.”

The rise in the price of trafficked guns reflects the increase in the incentive for traffickers to ply their trade. Still that explanation does not illustrate a causal relationship between an increase in crime and an increase in guns. 

But the willingness of gangs to use guns might be strategic. It therefore might be a causal link. Further, the hesitation to prosecute is more than likely to be the connection between crime and shootings. Which is to say that the cause is the behavior of people: gangs, prosecutors and the body politic. Trying to foist off the availability of guns as a cause is a cop out. It is human behavior and the incentive structure created by a society that represents the causal link.

JFB

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Here Goes Trump Again

Asked where he wants interest rates to be a year from now, Trump said, “1% and maybe lower than that.” He said rate cuts would help the U.S. Treasury reduce the costs of financing $30 trillion in government debt. 

—The Wall Street Journal, December 12, 2025.

We are rapidly approaching banana republic territory here. 

After announcing in a WSJ interview that rate cuts would help the U.S. Treasury reduce the costs of financing $30 trillion in government debt, president Trump went on to say “…I’m a smart voice and should be listened to.”

On the contrary, he is not smart, not by a long shot. And he should be ignored for the simple reason that he hasn’t got the slightest idea what he is talking about. 

Consider: the inflation rate is somewhere in the neighborhood of 2.5% to 3.00%. President Trump has nevertheless embarked on a campaign to have the Fed lower overnight rates to 1% or “…maybe lower than that”.    Let’s suppose that the Fed were to lower the overnight rate to 1%. Does anybody seriously believe that market rates on the long end of the market would follow? If so, why haven’t they done so already?

Let’s go to the video tape. The Fed started its current path of easing monetary policy in September 2024. Up until that point, the overnight policy rate had been set by the Fed at 5.25% to 5.5%. Today the policy rate is 3.5% to 3.75%—which is lower by 175 basis points (1.75%). And yet, market rates for Treasuries with maturities longer than 5 years are higher, not lower. See the Table below. 

Market Rate 1Market Rate 2
September 2024December 2025Change
Overnight Fed Funds5.25% — 5.50%3.25% — 3.5%-1.75%
3 Month T Bills4.61%3.62%-0.99%
2 Year T Notes4.57%3.52%-1.05%
5 Year T Notes3.48%3.74%0.26%
10 Year T Notes3.75%4.19%0.44%
30 Year Bonds4.10%4.85%0.75%

* These are actual market rates

The data clearly show that longer term rates rose even though the Fed lowered the overnight Federal Funds policy rate a full 175 basis points (1.75%). And let’s not kid ourselves: people finance their housing loans on the long end, not the short end of the market. So mortgage rates have not really declined materially despite press reports about the Fed “lowering” rates.  

That is not the only thing to consider. Donald J Trump wants to lower overnight interest rates below the inflation rate. What does he think the inflation rate is going to do? Inevitably the inflation rate will rise—just as it did during President Biden’s term in office. And no phony happy talk is going to change that. 

When HRH Donald Trump says that financing the federal deficit will be easier with lower rates he is pulling a hand-is-quicker-than-the-eye stunt. What he really means is that by suppressing short term rates he is implicitly trying to inflate the accumulated $30 trillion debt away. And he intends to do that by selling lots of short term Treasury Bills at rates below the inflation rate. 

The cost of that maneuver is a massive (but hidden) tax rise. This is for two reasons. First, because there is a de facto decrease in purchasing power that benefits the government. Second, because the government will tax nominal interest earnings even though purchasing power is declining.  That is what Trump really means when he says lower rates will ease financing accumulated debt. It is a con.

Another consideration comes to the fore. It is that the interest rate that really matters is the “real rate”. That rate is defined as the nominal rate plus inflation expectations. Pushing the nominal rate down below where the market would otherwise put it, necessarily causes the real rate to rise. And central banks around the world who have been massive buyers of Treasury securities will be forced to re-evaluate their holdings. 

The market however is not stupid. Prices of fixed-income securities will respond by widening the spread between short term and long term securities. That, along with rising inflation, is the price of an errant Fed policy designed to punish savers. It also includes reduced savings, reduced investment and perhaps a flight from the dollar.  

So charitably speaking, maybe we should just ignore the very smart voice of Donald J Trump. Especially when he is spouting off economic nonsense, which he does with clockwork regularity. 

JFB

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A Democratic Sweep

President Trump and the Republican Party received a major league thumping at the hands of the voters on Tuesday. Both Democratic candidates and their propositions won by large margins and across the board. New Jersey elected Democrat Mikie Sherrill as governor of New Jersey by double digits. Not only did Virginia elected Democrat Abigail Spanberger, they also threw out the incumbent Republican Attorney General Jason Miyares in favor of Democratic candidate  Jay Jones. The newly elected Jones fantasized—in writing no less—about killing the Republican opposition. Apparently the silence is violence crowd couldn’t have cared less. 

New York elected the self avowed Democratic Socialist Zohran Mamdani to be mayor. Mamdani, among other things, is an anti-semite. Ordinarily that would be prove to be disqualifying, especially in New York which has the largest Jewish population of any city in the US. But not today.

Mamdani also promised to freeze rents, place greater taxes on the wealthy, provide free day care, free public transportation, rein in the police, and open city run food stores. For its part in response to a Texas gerrymander, California voted to approve Prop 50 by around 25 – 30 points. Prop 50 would allow the state to further gerrymander the distribution of its Congressional seats so that Democrats could be in a position to pick up 5 to 7 seats.

Pennsylvania voters returned 3 Democratic state Supreme Court justices who rewrote the state’s electoral laws on the fly, as it were. Maine voted overwhelmingly not to require photo ID’s for in-person voting. Similarly, Colorado voted not to return $12.5 million in excess property taxes to tax payers. They instead voted to use the cash to fund a free school meals program. And in Georgia the two Republicans who were running to retain their seats on a public utility board were ousted in favor of the Democratic candidates. The last time a Democrat won a seat on the state utility board was 2007.

So it is fair to say that the Republicans received a serious drubbing. It is also fair to say that Democrats crushed Republicans in what were mostly deep blue states, like NJ, NY and California. But not all the states were deep blue. Maine and Georgia, for instance, are not. 

There are some take-aways from all of this. First, there was a reaction against Donald J Trump. How much is an open question, but there should be no question that there was a substantial reaction to Trump. Second, the progressive wing of the Democratic party is still ascendant. Alexandria Ocasio-Cortez will probably challenge Chuck Schumer in the 2026 Democratic Party primary for Senator in 2026. And more young Democratic candidates will run as avowed socialists.

Gavin Newsom of California scored a big win with Prop 50. His chance to get the Democratic nomination for a 2028 presidential run just got a big boost. Kamala Harris probably fell out of the running altogether. It’s also hard to see how JB Pritzker comes out ahead here. Rahm Emmanuel still remains a dark horse, and potential running mate for Newsom. 

The Republicans on the other hand just got a very big wake-up call. No longer can they rely on President Trump to drag them across the finish line. Perhaps they will stop mindlessly repeating whatever Trump says. If the Republicans had any brains, which they don’t, they would move to impeach Trump for refusing to execute the law. For instance, last I checked Tik-Tok is still in Chinese hands, and is alive and well even though the Supreme Court ruled in favor of the law requiring its divestiture. Which law Trump has pointedly refused to enforce.  

As for Trump himself: in all probability he will go into another bout of denial. There should be little doubt that he faces serious political trouble. He may try to talk the Republicans into tossing the 60 vote filibuster rule. They would be extremely foolish if they did. Up until this point though, that hasn’t been a huge obstacle for either political party. Regardless, we may be seeing peak Trump. Only time will tell. 

JFB

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The Great American Spend-a-thon

The volume of bad reporting in 2025 is truly astounding. Never have so many trees been felled for so little accurate information. For instance, the NY Times published a story that sniped at Bari Weiss, now the editor-in-chief at CBS news. In its story the Times decided to make several points, all of which hammered home the idea that the NY Times doesn’t think that Ms. Weiss was a good choice for the job. So that’s the news that fit to print. 

The article began with a simple question (easily answered by anyone who lives outside of Manhattan). The question, posed by Ms. Weiss to the senior staff of CBS’s 60 minutes  program was: Why does the country think you’re biased? The question, according to the Times, was “met with stunned awkwardness.” 

The correct answer  to the question of why the country thinks CBS is biased is (drum roll please): because CBS is in fact, biased. Now, that answer should not be surprising to almost anyone who lives outside of certain enclaves. For instance, it is standard practice for researchers to avoid bias by using randomly drawn data samples to examine social science questions. Other than the obvious example of polling data (where the methodology should be disclosed) journalists (and especially photo journalists) typically do not rely on random samples. They rely on camera angles. 

In fact, the article in question, as reported by the Times, was “…based on interviews with 10 people with knowledge of the inner workings of CBS News, who requested anonymity because they were not authorized to speak about internal conversations.”  Which in essence means that 10 non-randomly selected people with (presumed) axes to grind were given free rein to tell whatever story they wished to tell, with no way to check the veracity of the story. And plenty of it was grousing about the new boss. Who, by the way, resigned from the NY Times accusing it of bias. 

So we have payback from the Times, motivated, by among other things, jealousy. After all, not only did Weiss leave the Times to form her own spectacularly successful news / opinion organization, she reportedly sold it for $150 million. And let’s not forget that while CBS is a sometime competitor, both the Times and CBS are playing on the same ideological team. 

Let’s look beyond the Times carping at Bari Weiss. Let’s look at coverage of the Great Government Shutdown of 2025. The Democrats (who decried the legislative filibuster when they held the Congressional majority) have to decided to — filibuster the Republican funding bill and shut down the government. Their chief demand is that “emergency” Obamacare  health care subsidies due to sunset at the end of 2025, be extended. In reality these subsidies flow to health care insurance firms that provide insurance on ACA exchanges. 

For their part, the Republicans claim that they will discuss these subsidies once the government re-opens. The clear message is that the spend-a-thon will continue. And for good measure, the Democrats claim that health care costs will “spike” without the subsidies. 

So let’s ask a couple of simple questions. 1. How are subsidies going to avoid a “spike”in aggregate health care costs? 2. Where is the money going to come from to avoid said spike?

The answers to the question are, once again, fairly simple. First, subsidies are not going to reduce costs; in fact they will probably raise costs. They will do so by increasing demand for health care services over and above what they otherwise would have been. Further there will be no addition of supply. Voila, prices will rise. 

Second, the funds for this will come from innocent victims, namely  taxpayers, which makes the subsidies an income transfer, pure and simple. Rising costs will not be avoided; they will merely be shifted to taxpayers whether now or in the future. 

At this point it is worth mentioning something Congress apparently considers trivial, namely the fact that the US has by now accumulated about $37 trillion in debt. And according to the plan, it is due to rise further. The chief difference between the Republicans and Democrats at this point seems to be which party will spend the money on which constituency. 

That said, the Democrats seem to have a larger appetite for taxpayer dollars, which is not exactly a new development. According to the newspaper of record, the fight “…is a demand by Democrats for add-ons: more than $1 trillion for health care programs, and limits on President Trump’s spending power.”

It is also worth noting that there have been no plans made public that call for spending restraint. None. Zippo. That and the public’s  adamant refusal to accept the consequences of their collective desire for free stuff, is the reason that we are in the fix we are in today.  And it is a fix. 

We have seen this movie before. And their are no happy endings. Strap in. 

JFB

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Posted in Political Economy, Politics, Public Finance | Tagged , , , | Comments Off on The Great American Spend-a-thon