Finally Friday Reads: Free Speech Attacks, Incompetency, Cruelty, and Grifting Galore Characterize the Trump Regime

“A modern-day interpretation of a 1871 Thomas Nast work seems fitting to commemorate Trump’s secret crypto dinner.” John Buss, repeat@1968

Good Day, Sky Dancers!

As the old Buddhist and Hobbit saying goes:  “We live in Dark Times.” “Kali Yuga” is the Hindu expression.  Darkness has always been an expression of decline in European History, hence the label “Dark Ages” for the period from the 5th to about the 8th century.  Usually, these periods experience a decline in economic, intellectual, and cultural life.  One of the most prevalent things about these times is that there is a paucity of written records.  So, it’s difficult to capture the decline until a renaissance occurs. The breakdown of institutions occurred in these past times as well as the present. At the moment, we still have the ability to document the decline in the US. Many relate to it as a rebirth of fascist movements of the 20th century. It is a global feature at the moment, but no matter if it’s the Decline of the Roman Empire or the American Empire, there are signs.

The invention of the printing press is seen as one of the most powerful examples of an invention that can change the course of history.  Access to information directly, for personal consideration, tends to create a citizenry with low tolerance of being shut off from thinking for themselves.  Perhaps it’s why today’s dark leaders tend to go for education and the press, and why they attract “low information” and angry denizens.  They also attract a cadre of greedy followers willing to help attack and grab the wealth of those who are powerless.

These are indeed Dark Times.

The fight for the light in the newly filed Harvard case against the Trump administration’s ban on foreign students is a prime cause of denying  the citizenry access to anything that might cause them to question the goings-on here. But it also breaks into the tradition of the United States being the shining light of discovery, science, and reason. It’s why those of us who have had academic careers cherish and enjoy academic freedom.  The free exchange of ideas and opinions is essential.

We have traditionally had a small number of women in my field of economics. It was between 4 to 10 percent in the late 70s and early 80s.  It once rose to above 30%, but recently has settled on 27%.  The STEM fields still reflect the struggle for inclusion.  It’s even lower for Black Americans.  However, my career has led me to have colleagues from a variety of countries, which is wonderful.  In my early career, most of my women colleagues came from the Middle East or China. I was lucky enough to have a professor from Finland. She was brilliant.  Believe me. During my academic studies and life, the joy of having colleagues from all over the world who could share things was a blessing in my life. A colleague from the Punjab who now teaches in Canada helped me improve my math chops to get me through some of the most complex models that you could imagine. He stayed with me after Katrina until the campus got its FEMA trailers.  I also had a student from Taiwan staying with me.  My last biggest joy, however, was writing 2 letters of recommendation for two Black New Orleans students to Rice. The US cannot afford to fall behind in a vast world of research.  And, yet, here we are with a professional moron taking down the biggest academic center of research in the World.  America’s first University, Harvard.  If we do not train the world’s best minds, we will fall deeply behind in everything.

Today, we got the news of the Case Harvard filed against Trump.  “Judge Temporarily Blocks Trump Admin From Revoking Harvard’s Ability To Enroll International Students.” This is from The Harvard Crimson.  Harvard turned out one of my favorite journalists, Joy Reid, and you can read this article knowing there are more good journalists headed to jobs.

A federal judge granted Harvard a temporary restraining order in its suit to block the Trump administration’s efforts to revoke its authorization to enroll international students.

The order was issued less than two hours after the University requested a halt to the Department of Homeland Security’s attempt to end its Student Exchange and Visitor Program certification. Harvard had described the move as “unprecedented and retaliatory.”

United States District Judge Allison D. Burroughs agreed that if the DHS’ move goes forward, Harvard “will sustain immediate and irreparable injury before there is an opportunity to hear from all parties.”

The TRO will go into effect immediately and will likely last until a hearing in the case. Burroughs has scheduled a May 27 status hearing and a May 29 hearing on whether to issue a preliminary injunction. Harvard would need to file for a preliminary injunction to prevent the DHS’ directive from going into effect after the TRO expires.

Under the terms of the order, the DHS is barred from enforcing the Thursday move to strip Harvard of its SEVP status — and Harvard is no longer legally obligated to turn over the requested documents by Sunday.

Burroughs, a Barack Obama appointee, has adjudicated several cases relating to Harvard in the past. She oversaw a case brought by Harvard and MIT in 2021 against the U.S. Immigration and Customs Enforcement’s effort to force all international students who were enrolled online in the U.S. to leave the country. ICE ultimately rolled back the policy without a ruling from Burroughs.

Burroughs is also overseeing Harvard’s first lawsuit, filed in April, against the Trump administration over its nearly $3 billion funding cut.

You can see all of the destruction of the Age of Reason and the Scientific Age, and the Information Age, clearly in these actions and even more clearly in Trump’s appointments and the destruction of the Agencies most responsible for progress using science and reason.  BB shared this Substack today, and I thought I’d post it here.  It’s from Steven Beschloss, a journalist with a historian brother. “How Much More Stupidity Will Americans Endure? Reflecting on the escalating hostility to American values, principles, and decency in a 24-hour period.”  I personally cannot take much more of this.

I admit: The daily drumbeat of stupidity is exhausting. I wish it were enough for me to simply document the dangerous ignorance of Trump and his sycophants, confident that we’ll soon be free of this regime and its power to spread their poison and cancerous hostility across the land and around the world. But the midterm elections will not arrive for another 17 months. It’s hard to overstate how much damage Trump, his cabinet and his kowtowing Republican Congress can cause between now and then.

That’s why most days I ask myself: Could today be the day Americans decide they’ve had enough and demand change? I have thought that there might be a single event that triggers millions of Americans taking to the streets or committing to a national strike in a public, unavoidable show of solidarity. But I have come to see that the daily drumbeat is numbing too many people, causing them to adapt to the cruelty, the racism, the hostility to democracy, the arrogant rejection of the Constitution and the rule of law. The metaphor of the frog in a slowly boiling pot of water is apt; by the time the frog’s figured out he needs to get out, it’s too late.

We’re not there yet. You can see that dedicated lawyers are filing suit against the corruption and criminality, judges are pushing back, outraged Americans are engaging in protests, some elected Democrats and other awake leaders are ringing alarm bells, a growing number of colleges and universities have refused to buckle under, some independent media are addressing the reality of authoritarianism in no uncertain terms. Americans have not surrendered their sanity or capacity to know what’s right and wrong, what’s true and false. The pot may be beginning to boil, but we can still see and feel what’s happening. We are still able to take action.

But I want to spotlight a series of events in a single 24-hour period that individually outrage me and, taken together, express a level of stupidity and sickness that should motivate more than a shrug of the head or an angry social media post. You may have already focused on—been outraged by—one or even all of these. But it’s important to not look at them as discrete events, but part and parcel of a single plot to convince us that we should accept a fascist regime bent on elevating white nationalism, oppressing people of color, silencing dissent and making the rich richer and the poor and middle class poorer and sicker. This effort is led by a malignant racist and sociopath who’s convinced the people around him to do what he says, no matter how ugly, cruel, blatantly false—or just plain stupid.

Two of the four events were in the Oval Office Wednesday—our Oval Office, the place where real presidents have made some of the most momentous decisions that improved the lives of Americans, created a safety net to overcome the ravages of the Great Depression and soften cap italism’s turbulence, helped defeat the Nazis and fascism, built global alliances that made the world safer, more stable and prosperous, and demonstrated a commitment to bend the arc of history toward justice.

Into this historical place of honor came South African President Cyril Ramaphosa, a calm and skilled diplomat who decades earlier had served alongside Nelson Mandela as his chief negotiator to end apartheid in South Africa. But just like Ukrainian President Volodymyr Zelensky in February, he arrived for an ambush by a spiteful, narrow-minded man who spreads lies like Ukraine not Russia started the still-raging war. On this day he insisted with false information from fringe groups that South Africa, whose leaders are mostly Black, are committing genocide against white farmers, a false narrative that his top donor and South African-born Elon Musk has propagated.

At Trump’s urging, Ramaphosa answered a reporter’s question about what it would take to convince Trump there is no such white genocide. “It will take President Trump listening to the voices of South Africans, some of whom are his good friends, like those who are here,” he calmly said, referencing South African golfer Ernie Els who was in the room. “When we have talks between us around a quiet table, it will take President Trump to listen to them.”

But South Africa’s president was being set up. Trump interrupted him to play a video pushing the lies, then he showed photos meant to “prove” how much death there was, even leading Trump to mutter, “Death, death, death, horrible death, death.”

Except the video clip showing a long line of white wooden crosses were not actual burial sites for white farmers, as Trump insisted, but were from a 2020 protest against farm murders over the years. Except the photo Trump showed of people lifting body bags, insisting they “are all white farmers that are being buried,” was actually of humanitarian workers burying bodies in Congo. Except for all the claims of genocide among white farmers, meant to justify bringing white Afrikaners as preferred refugees to America now, there were a total of 44 murders in farming communities last year, Reuters reports, with over 26,000 in the country overall.

President Ramaphosa came to discuss trade and economic partnership. Yet Trump brought him into the Oval Office to ambush and abuse him, push his white nationalist agenda, spread more widely his egregious lies and showcase that—while illegally deporting people of color—only whites deserve America’s protection from presumed persecution. “We were taught by Nelson Mandela that whenever there are problems, people need to sit down around a table and talk about them,” Ramaphosa noted, but Trump was not listening.

There is a daily drumbeat of stupidity, airing of white grievances, and cruelty.  While discriminating harshly against everyone who is not white and Christian, this administration harbors supporters who carry torches and shout “Jews will not replace us,” and has bubble-headed Congress Critters who scream about “Jewish Space Lasers”.   Anti-semitism has become transactional. It has become a useful tool in the attack on Academia and the Democratic Party. It assumes that you can’t understand the history of the Jewish people without turning a blind eye to the punishing attacks on Palestinian women, children, and innocents in the Gaza Strip. I do not think there is a bigger way of showing disrespect for a group of people than using their historical struggles as a tool to encourage the murder of innocents.  But then, our #FARTUS is planning a Trump Tower, hotel, and golf course in GAZA.  The Trump Boyz–in between murdering endangered animals for sport–have been travelling the globe using the Tariff stick as a way to expand their Crime Syndicate.  All, at the expense of the United States and its economy.  This is from QUARTZ: “8 countries where Trump has been making new business deals, from Pakistan to Vietnam, Residential towers, golf courses, crypto — the deals didn’t stop on Inauguration Day.” This is the art of the steal in full display.  All we need to see is Eric and Don Jr. flying in the palace in the sky and sitting at Trump’s Crypto Fundraiser now.

Businesses spearheaded by President Donald Trump have struck numerous deals since Trump returned to the White House in January.

Leading the way is the Trump Organization, a conglomerate privately owned by the president. With more than 250 subsidiaries, it serves as a holding company for Trump’s various hotels, residential real estate, towers, resorts, and golf courses across the world.

World Liberty Financial, a decentralized protocol that merges financial services and cryptocurrency, has also brokered deals. A Trump business entity owns 60% of World Liberty and is entitled to 75% of all revenue from coin sales. Eric Trump and Donald Trump Jr. manage the company.

Here are the countries where the Trump empire has been dealmaking. The slide show that follows lists Vietnam. It’s in Hanoi, which reminds me of the Hanoi Hilton and the late Senator John McCain.

The project consists of a golf course, hotels, and luxury residences, and is slated for completion by 2029. In addition, Eric Trump is scheduled to meet with officials in Ho Chi Minh City on Thursday to discuss a possible Trump Tower in the city, Reuters reports.

In April, the president imposed a “reciprocal” tariff rate of 46% on Vietnamese goods. While that policy is currently on a 90-day pause, it would deal a major blow to the Southeast Asian country if resumed. Goods exported to the U.S. account for 30% of Vietnam’s economy, according to IMF estimates, the largest of all U.S. trading partners. As the specter of these crippling levies looms, Hanoi has pledged to buy more American goods, including Boeing (BA) aircraft and agricultural products.

Other countries include Serbia, Oman, Qatar, Saudi Arabia, UAE, Pakistan, and Singapore.  Most of these discussions haven’t been covered by the Media other than Qatar, which came with the gift that “Palace in the sky” that will cause millions of dollars to refit before it’s handed over to Trump and his “library.”  If there’s a bigger oxymoron than Trump Library, I’m waiting to hear it.  Let’s just call it the warehouse facility for all the bribes and emoluments.  We have to discuss that big ol’ party Trump threw for his richest customers. This is from the New York Times. “Hundreds Join Trump at ‘Exclusive’ Dinner, With Dreams of Crypto Fortunes in Mind. The guests were the biggest investors in President Trump’s memecoin, and they were greeted with chants of “shame” as they arrived at Trump National Golf Course.”

President Trump gathered Thursday evening at his Virginia golf club with the highest-paying customers of his personal cryptocurrency, promising that he would promote the crypto industry from the White House as protesters outside condemned the event as a historic corruption of the presidency.

The gala dinner held at the Trump National Golf Club in suburban Washington, where Mr. Trump flew from the White House on a military helicopter, turned into an extraordinary spectacle as hundreds of guests arrived, many having flown to the United States from overseas.

At the club’s entrance, the guests were greeted by dozens of protesters chanting “shame, shame, shame.”

It was a spectacle that could only have happened in the era of Donald J. Trump. Several of the dinner guests, in interviews with The New York Times, said that they attended the event with the explicit intent of influencing Mr. Trump and U.S. financial regulations.

“The past administration made your lives miserable,” Mr. Trump told the dinner guests, referring to the Biden administration’s enforcement actions against crypto companies.

The gala attendees made whooping noises while Mr. Trump spoke, and applauded as the president declared: “They were going after everybody. It was a disgrace frankly,” according to a video provided to The Times by a dinner guest.

Mr. Trump promised to change that approach. “There is a lot of sense in crypto. A lot of common sense in crypto,” he said. “And we’re honored to be working on helping everybody here.”

That sure is different than the 2021 #FARTUS who told Fox News.  He just couldn’t wait to get into that scam, I guess.  This is from the BBC.  “Donald Trump calls Bitcoin ‘a scam against the dollar’. This is reported by BBC News Business Reporter Mary-Ann Russon.

Former US President Donald Trump has told Fox Business that he sees Bitcoin as a “scam” affecting the value of the US dollar.

“Bitcoin, it just seems like a scam,” Mr Trump said. “I don’t like it because it’s another currency competing against the dollar.”

He added that he wanted the dollar to be “the currency of the world”.

As per usual, the biggest losers from any more normalization of cryptocurrency will be his own voters.  This is from the BBC. “The Bitcoin hum that is unsettling Trump’s MAGA heartlands.”  This was written by Mike Wendling.

Installations like the one at the power plant near Dresden are appearing across the country, drawn by record-high cryptocurrency prices and cheap and abundant energy to power the computers that do the mining. There are at least 137 Bitcoin mines in the US across 21 states, and reports indicate there are many more planned. According to estimates by the US Energy Information Administration (EIA), Bitcoin mining uses up to 2.3% of the nation’s grid.

The high energy use and its wider environmental impact is certainly causing some concern in Dresden.

But it’s the unmistakable hum that is the soundtrack for discontent in many places with Bitcoin mines – produced by the fans used to cool the computers, it can range from a mechanical whirr to a deafening din.

“We can hear a constant buzzing,” says another Dresden resident, Lori Fishline. “It’s a constant, loud humming noise that you just can’t ignore. It was never present before and has definitely affected the peaceful atmosphere of our bay.”

Such is Ms Campbell’s annoyance with Trump’s Bitcoin backing, her political allegiance to the Republicans is being tested. “Right now I’m not real happy about that party,” she says.

So, build the nastiest factory in the backyard of the people least able to deal with it.  That’s the sound of these Robber Barons that should be familiar to anyone who knows US history from its early 20th-century business escapades.  The most interesting thing that’s popped up today is that Apple has got Trump in a lather, and the Equity Markets hate it.  This is from Yahoo Finance: “Stock market today: Dow, S&P 500, Nasdaq trim losses as Trump threatens Apple, EU with new tariffs.”

US stocks fell on Friday, on pace for weekly losses as investors assessed President Trump’s latest tariff threats and what his giant tax bill means for the deficit and the economy.

The Dow Jones Industrial Average (^DJI) sank 0.4%. The S&P 500 (^GSPC) also fell roughly 0.4%. The tech-heavy Nasdaq Composite (^IXIC) backed off about 0.6%.

All three indexes trimmed steeper losses after Trump said on Friday that Apple (AAPL) must pay a 25% tariff on iPhones sold but not made in the US. The tech giant has begun shifting some manufacturing to India, with China, home to its key suppliers, locked in a trade war with the US. Apple shares fell 3% after Trump’s post on Truth Social.

At the same time, Trump threatened to hike the tariff on EU imports to “a straight 50%” beginning June 1 as trade talks between the two have stalled.

The president’s warnings shattered a more muted mood on Wall Street as investors wound down to the Memorial Day trading break on Monday.

It adds another supply chain complication for companies already worried about the potential hit to the economy from Trump’s tariff blitz. Earnings season has seen several companies hold off from providing full annual guidance thanks to uncertainty around tariffs.

All three major gauges are on track for a losing week. Stocks have suffered as deficit worries pushed up Treasury yields, intensified as Trump’s giant tax bill forged ahead. Wall Street is still weighing the economic impact of Trump’s revised bill, which cleared a key hurdle in the House vote for approval.

Well, I have always called him Orange Caligula.  It seems we have a mad emperor on our hands.  It didn’t help crypto either. “Bitcoin tumbles under $108K after Trump calls for 50% EU tariff. Trump’s tariff announcement sparks Bitcoin volatility, highlighting digital assets’ sensitivity to geopolitical events.”  This is from Crypto Briefing and Vivian Nguyen.

The price of Bitcoin (BTC) fell below $108,000 early Friday after President Donald Trump called for steep tariffs on EU imports and threatened Apple with similar measures. The digital asset briefly touched $107,300 on Binance, pulling back from session highs above $111,000 as traders responded to fresh geopolitical tensions.

The US president on Friday proposed a 50% tariff on all EU imports starting June 1, 2025, in a post on Truth Social. He cited trade imbalances and regulatory frictions as rationale for the move, declaring current EU-US trade dynamics “totally unacceptable.”

Apple is being threatened with 25% tariffs.  Wow, how free market is this?  Sounds a lot more like the old Soviet Command and Control model. Is he channeling Putin and Orban or just pissed about something Apple did at his party?  This is from CNBC. “Trump says Apple must pay a 25% tariff on iPhones not made in the U.S.” Does he not realize how long it would take to even set up a factory, let alone train everyone?  Doesn’t he know what this huge project would take to even break even?

President Donald Trump said in a social media post Friday that Apple will have to pay a tariff of 25% or more for iPhones made outside the United States.

“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.,” Trump said on Truth Social.

Shares of Apple fell about 2% on Friday after the post.

Apple’s flagship phone is produced primarily in China, but the company has been shifting manufacturing to India in part because that country has a friendlier trade relationship with the U.S.

Some Wall Street analysts have estimated that moving iPhone production to the U.S. would raise the price of the Apple smartphone by at least 25%. Wedbush’s Dan Ives put the estimated cost of a U.S. iPhone at $3,500. The iPhone 16 Pro currently retails for about $1,000.

This is the latest jab at Apple from Trump, who over the past couple of weeks has ramped up pressure on the company and Cook to increase domestic manufacturing. Trump and Cook met at the White House on Tuesday, according to Politico.

Treasury Secretary Scott Bessent said in an interview with Fox News on Friday that he was not part of the meeting at the White House but that the Apple situation could be part of the Trump administration’s push to bring “precision manufacturing” back to the U.S.

“A large part of Apple’s components are in semiconductors. So we would like to have Apple help us make the semiconductor supply chain more secure,” Bessent said.

Cook gave $1 million to Trump’s inauguration fund and attended the inauguration in January. Apple has announced a $500 billion spend on U.S. development, including AI server production in Houston.

Apple declined to comment for this story.

So, I’m over 4200 words and probably have put you to sleep.  You know how I am about Rabbit Holes.   How much longer before the economy collapses?  I’m actually beginning to wonder that. I know every time I see or hear him act so insane, I just collapse on the couch.

You have a very nice Memorial Day weekend. Please spend your time appreciating the many folks who gave their life for this country and its democracy.  Don’t let the ones trying to destroy it get to you.  There’s always the June 14th Flag Day “No Kings” protests and actions to look forward to and participate in.  Just don’t watch that damn parade. The least we old folks can do is tank the ratings.

What’s on your reading and blogging list today?

How about a little Warren Zevon and Prince?