We Are Still Doing The Wile E. Coyote Thing Where We’re Walking On Air And Holding Up A ‘Help Me’ Sign
A report from Fox 13. “Some real estate experts worry the market could be seeing a troubling trend of Canadians who have homes in Florida selling their properties. Vincent Arcuri, a realtor who owns Real Brokerage in Tampa, believes most families will be patient but explained why the news is worrisome. ‘To alienate that group of people would have a huge negative impact. Especially with it being the last thing Florida needs right now after the hurricanes and the insurance crisis, is to have a large group like that deciding to put their properties on the market in an already flooded market,’ Arcuri said. Arcuri added that most Canadians in Florida own condominiums, and he believes selling now would be short-sighted. ‘Because you’ve got an overabundance [of condos], there’s more inventory now than there’s been in the last 25 years,’ Arcuri said.”
KUSA in Colorado. “The Denver Metro Association of Realtors reports new-build inventory at a 15-year peak, with builders offering incentives to clear standing stock. ‘Homebuilders are anxious to negotiate — this is a chance to pick up a deal,’ said real estate expert Lane Lyon.”
Texas Standard. “The Texas Real Estate Research Center at Texas A&M University says that ‘conditions have shifted in favor of homebuyers.’ Yanling Mayer, a housing economist at the research center, joined the Standard with a look at the market. Q: I was reading the other day that there had been something like a house buyer strike across the nation because people just could not deal with the interest rates, and that was forcing sellers to slash prices on resales. Has that started to ease up just a bit? A: We have not seen that. What we are seeing is we are still seeing a lot of price discounts, more than one in two homes. I think the actual number is actually higher, since I don’t have the number right in front of me. There are just so many price discounts in home sales.'”
“Q: These are broadly considered, I think, more secondary markets compared to, say, Dallas and Austin certainly and Houston, San Antonio. I would guess, what, because prices are better in those secondary markets? A: That is correct, because we are seeing a lot of price markdowns in the secondary market, but we are seeing the same trend in the new homes market as well. In College Station, not so much when you look at the new home sales. But yes, it’s broadly consistent because homes are selling slower. So, you are seeing discounts in existing home sales as well as in your home sales.'”
Center Square on Illinois. “The city of Chicago is selling empty lots for $1 while spending more than $800,000 per unit on affordable housing. Chicago Department of Planning and Development Commissioner Ciere Boatright said the total value of the 405 lots placed on sale last week is $26 million, with some properties available from the city for a dollar. Boatright said it is important for the city to get the vacant lots back on the tax rolls. ‘Most of the properties were acquired by default, often by demo and tax liens, sometimes decades ago,’ Boatright said. Mayor Brandon Johnson touted his development plans with Boatright and other city officials at the formal opening of Auburn Gresham Apartments, an affordable housing complex on the city’s South Side. The $47 million project includes 58 units, placing the per-unit taxpayer cost at $810,345.”
Los Angeles Times in California. “Bill Essayli, the newly appointed U.S. attorney for Los Angeles and surrounding areas, on Tuesday announced the formation of a criminal task force to investigate potential fraud and corruption involving local homelessness funds, saying there will be arrests if federal laws have been broken. The U.S. Attorney’s Office in L.A. took particular aim at Los Angeles County in a news release announcing the task force, citing millions of dollars in federal funds that have been allocated to address homelessness and a recent court-ordered audit that found major flaws in homeless services. Essayli weighed in regularly on the issue of homelessness when he was a state legislator, referring derisively to what he called the ‘homeless industrial complex.’ ‘We have already spent $23 billion on homelessness and there’s nothing to show for it,’ he said on X at the time. ‘The money is going to build overpriced apartments and to enrich politically connected ‘non-profits.'”
Mission Local in California. “How rough is the state of San Francisco’s bereft downtown? Rough enough that the city’s longtime chief economist deploys a metaphor not from the academic canon but, rather, the chaotic realm of Warner Bros. cartoons. ‘Right now we are still doing the Wile E. Coyote thing where we’re walking on air and holding up a ‘help me’ sign,’ says Ted Egan. ‘The laws of physics haven’t yet kicked in. Or, in this case, the laws of economics. But they are called ‘laws’ for a reason.’ Desperate and/or intransigent building owners or operators unable or unwilling to offer market-realistic rents are going to eventually bite the bullet, go into foreclosure or otherwise come to real-estate Jesus.”
Cincinnati Business Courier in Ohio. “Four out-of-state real estate investors have been sentenced in an extensive, multiyear conspiracy to fraudulently obtain multimillion-dollar loans on commercial and multifamily properties, including a long-standing apartment complex in Cincinnati. Moshe ‘Mark’ Silber, 34, of New York, and Fredrick Schulman, 72, of New York, were sentenced for their respective roles in a conspiracy to commit wire fraud affecting a financial institution. Silber was sentenced to 30 months in prison, while Schulman was sentenced to 12 months and a day in prison, to be followed by nine months of home confinement.”
CBC News in Canada. “Hitender Sharma was driving from Toronto to Windsor last month when he got a phone call from a private investigator that made him turn his car around. The investigator told Sharma his holding company had been hijacked by fraudsters looking to gain access to the mortgage-free commercial property Sharma’s company owns in Mississauga. Their aim? To cash in on millions of dollars in equity by financing or selling the land. ‘It was shocking,’ said Sharma. ‘We have all the investment here, [the property] is worth more than maybe $12 million and this will disappear.’ It turns out, his company wasn’t the only target. ‘I’ve talked to a number of lawyers and various law firms, and people involved in the real estate and the corporate field, and many of them told me that it is so easy to get a corporate PIN,’ said King. ‘To them, it’s almost laughable.'”
Vancouver Sun in Canada. “The economic uncertainty from the U.S.-Canada trade war has scuttled any hopes of a modest recovery in Metro Vancouver’s presale condo market. While smaller projects — those with 100 units or fewer — are more likely to qualify for financing and go ahead, larger projects will face a more difficult time. Many units in larger projects have already been on the presale market for six months, which is half the time that lenders generally allow for marketing a presale development project. New regulations introduced in February allow a developer to apply to extend this window from 12 to 18 months, but it will still be tough to sell enough units to qualify for financing when buyers are worried about the economic outlook and job security.”
“‘I think projects just won’t start and people will get their deposits back,’ said Evan Allegretto, president at Intracorp Homes. ‘And maybe one of four projects will be successful because people that are wanting to buy will accumulate to the project that is most likely to start.’ ‘The challenging part of the market is that the demand typically coming from the presale investor is not as prevalent as has been in the past. One silver lining is that it helps ensure that the marketplace is not oversupplied, said Jon Bennest, vice-president of product development at Zonda Urban.”
ABC News in Australia. “On the top of a hill in Victoria’s south-east, Christine Hirchfield’s roof is lined with new solar panels, facing the afternoon sun. The panels have been there for a year, but they’re yet to produce a single kilowatt of electricity for the 73-year-old pensioner. Unconnected to the grid, they’re at the centre of a dispute that began with a Facebook ad, followed by a home visit from a salesman from GC Perfect Solar. ‘I am kicking myself that I was stupid enough to ever open that front door, but I was anticipating cheaper power bills,’ Ms Hirchfield said.”
“She claims the sales rep promised a great deal — which would see solar panels installed, an interest-free payment plan within her budget and a free battery down the track, as well as a generous 15-cent feed-in tariff for every kilowatt sent back into the grid. But after the solar panels were installed, she realised it wasn’t what she thought. The contract with the finance provider Brighte had her paying $95.77 a fortnight, plus fees, well outside her budget. ‘I thought, no, no, no, no, no,’ she said. The Australian Competition and Consumer Commission (ACCC) has now made the first-ever designated complaint, calling for ‘harmful’ unsolicited selling to be banned under consumer law. The complaint says at its worst this leaves people ‘trapped’ and ‘rapidly falling deeper into financial hardship’ leaving them exposed to being chased by debt collectors, court action and bankruptcy.”
The Independent. “A man took to social media to vent about a big mistake he made when buying his HDB flat — its sun-facing orientation. In a recent post on the r/askSingapore Reddit forum, he talked about his regret, saying that his flat basically turns into an oven from noon onwards, making it super uncomfortable to even hang out in the living room. ‘Me and my wife were sold by the view of the unit. When we were at the viewing. Aircon is on as usual. However, after purchasing and signing the OTP. I realised it has the western sun!!!’ he exclaimed. ‘Now every afternoon between 4 p.m. to 6 p.m. We are BBQ-ed. To the extent that I even got a heat rash in my living room while playing a game.’ Still, despite the sweltering afternoons, the man said he and his wife ‘love the flat’ because everything else is perfect, and that they ‘can live with this one regret.'”
“Curious if others have had similar experiences, he asked the Reddit community, ‘What were your regrets after purchasing your humble abode?’ One Redditor said, ‘I bought a resale condo. It was an older unit so didn’t realise it would have water leakage issues, and because the second floor had to fight off a rat infestation, killed 12+ rats over the span of a month.’ Another commented, ‘Resale condo. When I viewed it, it was always in the afternoon. When I moved in, I realized I lived opposite a disco and a KTV. Fighting, loud music, and KTV girls are always nearby. Upside, if I call the police, they appear within 2 minutes. (Yes, I timed them).’ A third shared, ‘Noise. All windows and bedrooms in the apartment are facing a big main road four lanes in each direction. Noisy in the day, and night when vehicles like to zoom down at high speed.'”
The San Francisco article is worth reading. How the mighty have fallen.
SF is basically Detroit-by-the-bay now. Was just down there a few weeks ago and oof, what a mess.
“The City” suffers the end of the baby boomers, the U.S. last generation that enjoyed manageable debt and disposable income. With online shopping like Amazon and eBay, why would anyone try to shop where street people will smash your car windows, and the city will ticket your car less than 5-min after the parking meter expires? With excessive fees for everything, San Francisco priced itself out of business.
With excessive fees for everything, San Francisco priced itself out of business.
They assumed that people would just put up with it. They couldn’t conceive that people would vote with their feet.
“….With excessive fees for everything,…..
Pretty much what is now happening in Los Angeles.
Billions of Homeless Industrial Complex funds unaccounted for.
Los Angeles sales tax: 9.75% (recent .5% increase to fund more homeless!!!)
LA city 1 billion in debt. Teetering on bankruptcy.
Gridlock traffic.
Crime everywhere.
Infrastructure crumbling.
Gross mismanagement of recent Palisades fires. Rebuild permit process stalled. Much insurance coverage questionable.
Welcome to LA. Why would any normal person what to live there?
A once beautiful city destroyed.
‘What we are seeing is we are still seeing a lot of price discounts, more than one in two homes. I think the actual number is actually higher’
Wa happened to my Texas shortage Yanling?
‘Essayli, the newly appointed U.S. attorney for Los Angeles and surrounding areas, on Tuesday announced the formation of a criminal task force to investigate potential fraud and corruption involving local homelessness funds, saying there will be arrests if federal laws have been broken…‘We have already spent $23 billion on homelessness and there’s nothing to show for it,’ he said on X at the time. ‘The money is going to build overpriced apartments and to enrich politically connected ‘non-profits’
That last bit would be you mayor Bass. It’s interesting that no criminal charges have been investigated by local or state guberments. Can’t do that either I guess.
On January 24, 47 traveled to Los Angeles to speak with the city leaders re rebuilding after the fires. He got into a bit of a dispute with the Mayor over how fast she could grant permits to remove rubble and start rebuilding. Right after 47 left, LA went right back to its old ways. Ya think 47 didn’t notice that? I bet he did. Ya think he’s attaching more strings to *any* Federal munnies LA begged for? I bet he is.
Can’t do that either I guess.
As Bill Mahar says: California is the “Can’t Do State!”
Overpriced apartments is also the fault of city leadership. Why do the homeless deserve to be housed in luxury anything in prime locations? Sure, build the new apartments, but price those for the high-wage workers. Affordable housing goes to the necessary but lower-wage workers (with proof of job), and homeless can go to the Class C/D stuff, of which I am sure there is plenty.
why not put mobile homes on a vacant lot at the end of a bus route. they used to make 1 bedroom duplex homes, They had a lot of these in south carolina. weekly rentals, military, would be great for the homeless, cheap and livable
https://www.youtube.com/watch?v=KdHIwCyAEqg
Nice idea but one that is not conducive to graft.
If tents are good enough for the troops deployed along the border to curb Invasion USA, they’re good enough for bums & junkies.
If tents are good enough for the troops deployed along the border
Some troops stationed in Afghanistan also spent months in tents. A/C was in the tents.
‘It was shocking,’ said Sharma. ‘We have all the investment here, [the property] is worth more than maybe $12 million and this will disappear.’ It turns out, his company wasn’t the only target. ‘I’ve talked to a number of lawyers and various law firms, and people involved in the real estate and the corporate field, and many of them told me that it is so easy to get a corporate PIN,’ said King. ‘To them, it’s almost laughable’
Yer frozen wasteland is crawling with real estate crooks Hitender, guberments up there facilitate it.
Treasuries dumping hard, 10YR hit 4.51% overnight.
Lots of hedges are getting trimmed.
Industry news
Margin calls and volatility shake markets as Trump tariffs drive hedge funds out of stocks
Advisors brace for ripple effects as hedge funds liquidate global equity positions
By Freschia Gonzales
Apr 09, 2025
The escalating fallout from US President Donald Trump’s sweeping tariff strategy has triggered a global wave of equity selloffs, margin calls, and market panic.
These developments are ones that Canadian financial advisors may need to monitor closely amid heightened volatility and de-risking activity worldwide.
According to Reuters, some hedge funds have exited all or most of their stock positions as market losses deepen and borrowing capacity shrinks.
“The macro picture is getting very chaotic, and I cannot see the future clearly at all,” said William Xin, chair of Spring Mountain Pu Jiang Investment Management in Shanghai, who liquidated his China and Hong Kong holdings just ahead of a local holiday.
…
https://www.wealthprofessional.ca/news/industry-news/advisors-brace-for-ripple-effects-as-hedge-funds-liquidate-global-equity-positions/388847
NASDAQ up 10% as of now.
Bears getting burned badly. I sold off all SQQQ yesterday.
And as DJT makes trade deal after trade deal with countries the market will be happy again.
Closed up 12.16% on the day.
This isn’t sustainable.
Why would anyone “invest” in U.S. debt that’s going to be printed away by the Fed?
Because our printers are slower than theirs. 🙂
The Wall Street Journal
Markets Coverage
LIVE UPDATES
Trump’s New Tariffs Take Effect; China Retaliates; Treasury Prices Fall
Stock futures slide; U.S. hits China with 104% tariff; China to raise levies on U.S. imports to 84%
Last Updated:
April 9, 2025 at 9:13 AM EDT
Global markets convulsed as sweeping new U.S. tariffs went into effect and China retaliated, setting up Wall Street for another tense session.
Taking center stage was the selloff in U.S. Treasurys. The yield on the 10-year note, the reference point for trillions of dollars in loans and securities, rose as high as 4.47% Wednesday, marking its largest rise over a four-day period since the height of the 2008 financial crisis.
Investors say there is broad nervousness about holding longer-term Treasurys ahead of government auctions Wednesday and Thursday. That anxiety contributed to a global stock selloff, with stock futures down 2% or more, Japanese equities falling 3.9% and Europe’s main benchmark dropping 4%.
…
https://www.wsj.com/livecoverage/stock-market-trump-tariffs-trade-war-04-09-25
the last thing Florida needs right now after the hurricanes and the insurance crisis, is to have a large group like that deciding to put their properties on the market in an already flooded market,
I view these additional houses as a plus as that should drive house prices down sooner. Nothing against the Canadians.
KTV. Fighting, loud music, and KTV girls are always nearby.
For those who don’t know what a KTV is: Is it like a Brothel or sorts.
First time I saw a KTV building I thought it was a building housing a TV station. I was laughed at when I said that.
The Economist – Why China thinks it might win a trade war with Trump.
The country’s officials vow to “fight to the end”.
https://archive.ph/zJ9Ue#selection-1133.0-1137.49
The trade war is escalating, and fast. On April 8th Chinese officials vowed to “fight to the end” in the face of new threats from Donald Trump, made just hours earlier, having already promised to match American tariffs of 34%. With such an increase, China’s tariff rate on American imports will reach 70%. Later the same day, the White House confirmed that it would return fire, with tariffs of 104% applying to Chinese goods from April 9th.
There is little to prevent decoupling between the world’s two largest economies. Although Mr Trump’s intentions in unleashing the biggest disruption to trade in modern history are not fully clear, he seems less interested in striking a deal with China than ever before. All negotiations would be terminated if China imposes its levy of 34%, he said on his social-media site, when announcing the latest measures. Chinese officials call this a “mistake on top of a mistake”, and have not ruled out talks. Their tough response nevertheless probably forecloses that possibility.
Until the recent escalation, Mr Trump’s tariffs on China had been met with a swift but blunted response. Chinese officials had been eager to show they would not be pushed around; at the same time, they were content to pick their punches, so as to limit self-harm and avoid further escalation. This, the thinking went, would allow for easier negotiations when the time came—a calculation that now appears to have been discarded.
One reason for the shift might be a sense among China’s leaders that they could win the trade war. Mr Trump wants a lot from his geopolitical rival, including stemming the flow of fentanyl precursors and help ending Russia’s war in Ukraine. America’s president has also revealed that he does not want to be responsible for shutting down TikTok, a Chinese-owned short-video app popular among young Americans. Tesla, an electric-vehicle firm owned by Elon Musk, Mr Trump’s adviser, is vulnerable to retaliation, since it does about a fifth of its business in China.
“This is huge leverage on the US government unless Elon is asked to go,” says Alicia Garcia Herrero of Natixis, a French bank.
Chinese officials may also believe that America will be unable to bear the inflation and economic discontent caused by Mr Trump’s tariffs. Instead of “fighting to the end”, they may only need to fight until American consumer prices begin to rise or employment begins to fall. Senior advisers, government researchers and economists all point to this as the easiest way of bringing Mr Trump to the table. Some talk of finding ways to exacerbate the situation, perhaps by strengthening the yuan. This would be quite a gamble. By the time inflation had picked up in America, Chinese industry and supply chains would be suffering.
An escalating trade war means that Xi Jinping will need to do more to prop up China’s economy. The potential shock is being compared to the global financial crisis of 2007-09, which elicited a stimulus package of 4trn yuan ($590bn). Li Qiang, Mr Xi’s deputy, said in March that the country was preparing for “bigger-than-expected external shocks” and that it was willing to enact policies to ensure economic stability. What this means in practice remains unclear. The People’s Daily, a state newspaper, said on April 6th that cuts to interest rates and banking-reserve ratios could come at any time. The paper has also said that local governments will help struggling exporters to find new sources of demand at home and in non-American markets. Soochow Securities, a Chinese broker, has suggested that China could lower tariffs on the rest of the world, while increasing export subsidies.
As markets around the world have reeled, China has been quick to step up support. On April 7th and 8th state firms entered China’s market to buy stocks. Owing to this assistance, the CSI 300 index of the Shanghai stockmarket rose by 1.7% on April 8th. Economists worry that stimulus for the real economy will arrive much more slowly, with any interventions piecemeal and reactive in nature, and materialising only after a sharp slowdown. According to Larry Hu of Macquarie, a bank, things will get worse before they get better.
Mr Xi will also need to consider if he is willing to see China’s economy fully decouple from America’s. Although China has been pursuing technological self-reliance, it has largely rejected the notion of “decoupling”, seeing it as a way for the West to punish China. Now, however, there is growing support for it. A short list of planned responses, posted online by various well-connected commentators on April 8th, suggests that China is considering the suspension of all co-operation with America on fentanyl. Another idea is to ban imports of American poultry and other agricultural products, such as soyabeans and sorghum, which mainly come from Republican states.
China may impose restrictions on American services, too, where Uncle Sam still runs a trade surplus. This would include restrictions on American consultancies and law firms still operating in the country. It could also probe intellectual property held by American firms. These IP holdings may constitute monopolies and earn excess profits, according to one influential blogger, who goes on to say that China’s success with an animated film, called “Ne Zha 2”, and the poor performance of “Snow White” in America, could help justify reducing imports of American films or banning them all together. If “fighting to the end” means matching any new American tariffs, Mr Xi will have to bite the apple of decoupling. ■
Imagine what havoc millions of Chinese furloughed factory workers could wreak in the streets. Xi might ponder on that before he answers Trumps 125% raise with anything other than a fold.
Imagine what havoc millions of Chinese furloughed factory workers could wreak in the streets.
He got away with locking people in their homes for a couple years during COVID. Something tells me he doesn’t care.
Update on me. So I was able to renew my lease for the same rate as last year. The rate last year was the same as the rate before that. I am living in Milpitas and working for one of the biggest Bay Area tech companies.
Congratulations QT, You must have sterling qualifications on your credit history and reputations of your recent past. I also have frozen any rental increases on my tenants who have shown respect for my rental units and me, as a property owner. Fortunately for the current tenant’s and myself, these properties were purchased before dramatic increase in prices brought on by the “johnie-come-latelys” who had stars in their eyes about instant wealth and fabulous fortunes.
Being a small property owner is actually a second job requiring the attitude of sacrificing now for a pay off later down the line. Our properties are not sky-high rentals and not bottom of the barrel units, rather B grade housing that are affordable on the average wage of the area. And we have had tenants stay with us for 10 plus years, so we must be doing something right. Slow and steady wins the race, and not accepting the first applicant with a completed application. An affordable auto will get you to Aunt Tillie’s home just as cool in the hottest of summer days and also just as warm in the coldest of winter days as one of those high dollar luxury auto’s. The choice is yours, flaunt your wealth while you walk around in shoes that holes in the soles while worrying about the upcoming payment, or wear last years fashions while you have some “jingle’ in your pockets.
The Economist – The world flatters the tariff king.
In hopes of dodging tariffs, countries are offering gifts to Donald Trump.
https://archive.ph/eu5jD#selection-1133.0-1144.0
COURTING THE tariff king is a tricky business. There are no rules, no obvious channels through which to reach him and no guarantee that anyone, apart from the man himself, can make a deal. Maros Sefcovic, the EU trade commissioner, spent hours talking with Jamieson Greer and Howard Lutnick, two of the president’s advisers, yet came away empty-handed. Neither has the authority to cut a deal. “We have offered to negotiate,” says an EU official, “but Greer and Lutnick don’t have a mandate yet. It’s all up to POTUS.”
Donald Trump has positioned himself as the sole gatekeeper of trade with America. Since he unveiled a sweeping set of tariffs on April 2nd, some 70 countries have contacted the White House, hoping to win relief. As Mr Trump’s tariffs were due to be implemented on April 9th, their efforts were intensifying. Although united by a common aim, they are employing a wide variety of strategies, ranging from gifts to threats. So far, few have had much luck.
Even if governments manage to win an audience, the terms of engagement keep shifting. Mr Trump has railed against everything from bilateral trade deficits and food-safety rules to value-added taxes, defence spending and tech regulation. Many of the accusations are entirely baseless. “We must ask: what era do those figures come from?” said Ishiba Shigeru, Japan’s prime minister, after Mr Trump claimed that Japan imposes a 700% tariff on American rice. Officials in South Korea were similarly stunned when he declared that their average tariff is four times higher than America’s. “It is based in fiction,” says Yeo Han-koo, a former South Korean trade minister. The two countries already have a free-trade agreement; tariffs on most American goods are close to zero. South Korea has tried to correct the record through official channels, to little avail.
Some governments have tried to take Mr Trump at his word. If his goal is reciprocity, why not remove tariffs entirely? “Europe is always ready for a good deal,” declared Ursula von der Leyen, the European Commission’s president, as she proposed zero-for-zero tariffs on all industrial goods, including cars, chemicals and machinery. Taiwan has offered a broad package of zero duties, non-retaliation pledges and expanded investment in America, as it rushes to prepare the ground for talks. Vietnam’s leader has also proposed mutual tariff elimination.
The White House has not been impressed. Mr Trump declared the EU offer insufficient, and repeated his line that the bloc “was formed to really do damage to the United States in trade”, before veering into complaints about America’s unduly large contributions to NATO. Peter Navarro, Mr Trump’s trade adviser, dismissed Vietnam’s proposal, accusing the country of subsidising exports, re-routing Chinese goods and acting as a “colony” for Chinese manufacturers. Even if tariffs are eliminated, he argued, the trade deficit would still remain because of “all the non-tariff cheating that they do”.
A handful of countries have found a way through the chaos by appealing to Mr Trump directly. A recent phone call between Mr Ishiba, Japan’s prime minister, and America’s president appears to have paid off. Japan was promptly bumped to the front of the queue, and Mr Trump has indicated that he will be directly involved in the trade talks. Japanese officials are now assembling a package designed to appeal to America’s president. On the table is not just trade, but investment and military spending. Japan’s offer is likely to include more purchases of American liquefied natural gas, investment in an Alaskan pipeline Mr Trump favours, additional arms imports and looser restrictions on American farm goods and cars—most of which are already covered by a bilateral agreement Mr Trump signed during his first term. Mr Trump has since boasted of a similar suite of concessions from South Korea, following a call with Han Duck-soo, its acting president.
There is a deep weirdness to the whole affair. Even if some countries flatter their way to the front of the queue, it is unclear what, if anything, America stands to gain. The concessions on offer—cuts to tariffs that are already at or near zero, as well as other token gestures—will do little to shift trade flows or reduce deficits. Trade balances, after all, are driven by savings and investment patterns rather than by tariff rates. America’s high demand will continue to drive its trade deficits, regardless of any symbolic victories.
And while some governments come bearing gifts, others are preparing to strike back. On the day that Mr Trump unveiled his tariffs, Brazil’s congress passed a Reciprocity Tariff Bill, enabling it to suspend trade and investment concessions, as well as to revisit intellectual-property rules that could affect American firms. China has slapped a 34% tariff on all American imports and vowed to “fight to the end” in a trade war. And despite Mrs von der Leyen’s talk of a deal, the European Union has unveiled retaliatory measures that target cosmetics, orange juice, soyabeans and vehicles. This is merely its first volley. A second round is expected soon, in response to America’s additional 20% “reciprocal” tariff. All options are on the table, including the use of the bloc’s “anti-coercion instrument”—restrictions aimed squarely at American services, which have so far escaped any retaliation.
If all else fails, there is always reorientation. On April 7th Mrs von der Leyen suggested that the EU was already taking steps in this direction. The bloc, she said, would now “focus like a laser beam on the 83% of global trade that is beyond the US”. Although the EU still hopes to strike a deal with Mr Trump, Mr Sefcovic, the trade commissioner, has warned that it will not wait for ever. In trying to do a thousand different things at once, Mr Trump may end up doing one big thing: harming America. ■
[From the Babylon Bee …]
China Retaliates Against Tariffs By Putting Worse Fortunes Into Cookies.
https://babylonbee.com/news/china-retaliates-against-tariffs-by-putting-worse-fortunes-into-cookies
BEIJING — As part of an escalating global trade war, the Chinese government announced plans to retaliate against President Donald Trump’s tariffs by putting worse fortunes into their cookies.
Highly placed sources within the Chinese Communist Party confirmed that production had been ramped up on newer, more disturbing fortunes to place inside cookies to be shipped to thousands of restaurants across the United States.
“Less than happy outcomes are in your future,” said one slip of paper seen by a fortune cookie insider. Other fortunes reportedly created to combat Trump’s tariffs include “Your baseball team is unlikely to make the playoffs,” “A Mexican mariachi band will soon move in next door,” and “Full control of Star Wars will soon be given to Rian Johnson,” which were sure to take the trade conflict between China and the U.S. up a notch.
“We are prepared to make these fortunes much worse,” Chinese President Xi Jinping said via state-controlled media. “If the United States insists on implementing these foolish tariffs, they can look forward to far more devastating and terrifying fortune cookies with every purchase of Chinese takeout.”
A Trump administration insider said the president remained committed to the tariffs no matter how belligerent the fortune cookie messages may become.
At publishing time, a West Covina, California man had reportedly contacted the federal government to notify them of the “American dogs will soon bow down to the great Chinese dragon” fortune he found along with his order of General Tso’s chicken.
American Greatness – Trump Wannabe Syndrome.
Democrats don’t hate Trump—they want to be him, mimicking his style but failing to connect with voters, exposing their desperation and lack of authenticity.
https://amgreatness.com/2025/03/29/trump-wannabe-syndrome/
By now, everyone and his brother is familiar with Trump Derangement Syndrome, that particular pathology that drives liberals and even many conservatives absolutely batty. Not only does Trump drive his opponents and detractors to fits of apoplexy, but he also compels them to make foolish statements and to embrace positions they would otherwise never even consider. During Trump’s first presidency, at the height of the COVID panic, the left openly and ardently dismissed a vaccine as partisan quackery. Joe Biden and Kamala Harris, then running against Trump, openly warned that “his” vaccine was not to be trusted, that they would be hesitant to take it, and that they were sure the experts would not recommend it. As soon as they hit 270 electoral votes, however, that vaccine was suddenly the greatest thing in the history of ever, and you better take it…or else! And while there are good and just reasons to support Ukraine in its war with Russia, it is almost inarguable that the American Left’s obsession with the war, with Ukraine, and with Ukrainian President Volodymyr Zelensky is a byproduct of its belief that Donald Trump is on Putin’s side and, therefore, they must do precisely the opposite. Whatever he likes, they hate. Whatever he supports, they oppose. Whatever he says, they say the opposite. And so it has been for roughly a decade now.
Lately, however, a new Trump-related syndrome has begun to manifest among his opponents, one that is equally potent, equally idiocy-inducing, and equally self-defeating. This new syndrome has been prevalent among Democrats for the last several months at least, but only recently has it clearly distinguished itself from all the Democrats’ other pathologies. The key moment in the diagnosis of this syndrome came just the other night, when Congresswoman Jasmine Crockett (D, TX) spoke at a banquet in Los Angeles and referred to her state’s Governor Greg Abbott as “Governor Hot Wheels.” Abbott, of course, is wheelchair-bound after a freak accident 41 years ago left him paralyzed. Crockett insisted that she meant no offense and adamantly refused to apologize.
In the several days since the incident, critics have pilloried the Congresswoman, who had already been in the news for her brash, combative, and tacky approach to dealing with the second Trump team. Some have said that she deserves to be censured. Others have chalked her stupidity up to the above-mentioned Trump Derangement Syndrome. Still others cheer her on and hope that she remains the face of the Democratic Party for a long time to come, laughing at how terribly her antics play with ordinary voters. All of these folks have valid cases, to some degree or another, yet all seem to have missed the larger point here. Jasmine Crockett isn’t acting like this because she’s mad at Trump or because he’s driven her crazy. She’s acting this way because she admires him, at last subconsciously, and she wants to be like him, to capture some of his winning lightning in Democrats’ losing bottle. This isn’t a case of Trump Derangement Syndrome. It’s a case of Trump Wannabe Syndrome (TWS™).
It isn’t just Crockett. Ever since Trump and Vance won last November, Democrats have been swearing, snarling, and trying to be as crude as possible. A few weeks back, in a premeditated publicity stunt, Arizona Senator (and former astronaut) Mark Kelly (D) filmed himself with his Tesla and whined about how he could no longer stand to drive the car. Once upon a time, he said, it felt like a “rocket” to him, but now he didn’t want it around because it was “built and designed by an a**hole,” meaning DOGE boss Elon Musk. “Wow,” he assumed we’d all say, “such tough talk from an otherwise staid and cautious guy. He must be really fed up!” No one actually cared, of course, but Kelly likely didn’t realize that. He’s a Democrat, after all, which is to say that he doesn’t have a whole lot of contact with actual rank-and-file voters.
Therein lies the rub for Democrats. They see Trump out there swearing and using vulgar vernacular and maybe, once in a while, even making fun of disabled people. And then they see him winning, winning big, and winning among their erstwhile constituencies. And they think to themselves, “I can do that too, you know! In fact, I can do it better than he does it!” So, they try. And they fail. And the voters cringe.
What the Democrats don’t understand is that Trump’s appeal has nothing to do with being crass. There is no doubt that he is crass sometimes, but that’s a function of his personality. It just flows from him, and while it may make the cocktail-party set wince a bit, it nevertheless fits him and seems perfectly natural.
Like all supremely successful politicians, Trump has a gift, an uncanny ability to connect with people in a way that transcends politics and ideology. Ronald Reagan had the gift. Bill Clinton had it too. Even Barack Obama, the Condescender-in-Chief, showed flashes of the gift on occasion. It’s worth noting that the gift is not something one can fake, learn, or imitate. You either have it or you don’t. Jasmine Crockett doesn’t have it. Mark Kelly doesn’t have it. Alexandria Ocasio-Cortez doesn’t have it. Nancy Pelosi and Chuck Schumer sure as heck don’t have it. And the more they try to fake it, the more grotesque and cringeworthy they appear.
Love him or hate him, Donald Trump represents something extraordinary in American politics. His connection to average voters, in spite of his vast fortune and privileged life, is as remarkable as it is inexplicable. His Democratic opponents have lost their ability to connect to average folks through policy and rhetoric, and they want desperately to recapture what they once had. Rather than put in the hard work of listening to voters and resisting special interest groups, however, they seek a quick fix. They seek what Donald Trump has. They don’t hate him. They want to be him when they grow up.
Harvard students offered high school basic math course.
https://jonathanturley.org/2025/04/08/crimson-slide-harvard-students-offered-high-school-basic-math-course/
According to The Harvard Crimson, Harvard will offer high-school-level math courses to its students. The remedial assistance has rekindled criticism over Harvard’s move away from standardized tests in making admissions decisions.
For years, Harvard has been accused of lowering admissions standards to achieve “equity” goals in its classes. The school opposed efforts to uncover its admissions data. When that data was ultimately revealed, sharp differences emerged based on race. The differences led to the historic decision in Students for Fair Admissions v. Harvard, 600 U.S. 181 (2023) barring the use of race in college admissions.
As court decisions made it clear that the period of race-based criteria was coming to an end, systems like the University of California dumped standardized testing, while others decreased the reliance on such scores. Without standardized testing as an objective measure of comparison, challenges based on race would be more difficult to establish.
Critics have raised that history in light of the recent announcement. It would have been unthinkable in prior years for Harvard to offer remedial high-school-level courses for admitted students.
Nevertheless, Harvard’s director of introductory math, Brendan Kelly, told The Harvard Crimson that the cause was the pandemic. He said that Harvard students “don’t have the skills that we had intended downstream in the curriculum. We want to make sure that students are on a path to success starting from their first day.”
It is an odd explanation since most students deemed competitive for the top schools have excelled on standardized tests. The school was obviously selecting on other criteria than proven excellence in basic areas of study.
Since 1636, Harvard long insisted on the very top scores from students for admission. The result was that it became one of the world’s premier and most exclusive universities. Yet, in one generation, the current faculty and administrators have reduced its standards to the point that students must retake basic high school courses.
While the university’s standards have obviously declined, faculty and administrators have substituted their own priorities — and interests — for those of the institution.
Many agreed with Ibram X. Kendi that standardized testing was based on racism and perpetuated racial inequality. He insisted in 2020 that “standardized tests have become the most effective racist weapon ever devised to objectively degrade black and brown minds and legally exclude their bodies from prestigious schools.”
Ironically, standardized tests have been found to be the most predictive measure of success in college.
As noted by the New York Times, studies at Ivy League schools show that GPAs hold limited value as predictors of success while test scores are highly indicative of success.
It does not matter in today’s academic environment. Then University of California President Janet Napolitano caved to this movement.
Notably, academics in the California system came to the same conclusion as Dartmouth years ago. Napolitano, however, overrode those conclusions.
Napolitano responded to the claims of racism in the use of SAT scores with a Standardized Testing Task Force in 2019. Many people expected the task force to recommend the cessation of standardized testing. The task force did find that 59 percent of high school graduates were Latino, African-American or Native American but only 37 percent were admitted as UC freshman students. The Task Force did not find standardized testing to be unreliable or call for its abandonment, however.
Instead, its final report concluded that “At UC, test scores are currently better predictors of first-year GPA than high school grade point average (HSGPA), and about as good at predicting first-year retention, [University] GPA, and graduation.”
Not only that, it found: “Further, the amount of variance in student outcomes explained by test scores has increased since 2007 … Test scores are predictive for all demographic groups and disciplines … In fact, test scores are better predictors of success for students who are Underrepresented Minority Students (URMs), who are first generation, or whose families are low-income.” In other words, test scores remain the best indicator for continued performance in college.
That clearly was not the result Napolitano or some others wanted. So, she simply announced a cessation of the use of such scores in admissions. The system will go to a “test-blind” system until or unless it develops its own test.
Even the Massachusetts Institute of Technology (MIT) yielded to this movement during the pandemic by dropping the use of standardized testing requirements. However, MIT later reversed that decision and reinstated the use of the tests as key to preserving its elite status as an educational institution.
Of course, this controversy cannot ignore that our high schools are cranking out students who cannot do high-school level math. Indeed, many have moved away from standardized tests to achieve equity. Others have lowered standards or dropped proficiency standards for graduation. Others have eliminated gifted and talented programs to avoid inequitable results.
The combination of such equity policies has finally reached Harvard which is now compelled to reduce classes to high-school levels to meet minimal standards for students.
Northern Virginia braces for more job losses amid Trump administration uncertainty
Private-sector job postings have plunged. Contracts are being canceled. And across Northern Virginia, laid-off federal contractors are showing up at job centers in growing numbers – a trend officials fear will worsen this summer if deeper federal cuts take effect.
“I’m preparing for the worst,” said David Hunn, executive director of Virginia Career Works Northern Region, which runs job centers in Alexandria, Fairfax, Loudoun and Prince William counties. “We could be looking at thousands of people needing help in the next few months.”
Hunn said many seeking help are federal contractors laid off after agencies like the United States Agency for International Development, or USAID, froze or scaled back grant-funded programs.
“We probably had several hundred either displaced federal workers or contractors,” he said. “And I think probably it’s more contractors right now given the layoffs at USAID, because they had to terminate their employees immediately.”
If federal agencies proceed with formal reductions in force, which require a 60-day notice, Hunn said a second wave of layoffs could arrive by summer.
“We’re probably looking, if all of that happens, somewhere between the May and June timeframe,” he said.
Virginia ranks second nationally in full-time federal civilian jobs, with 321,516 positions, according to the Weldon Cooper Center at UVA. Including part-time roles and 130,751 active-duty military personnel, the total nears 476,000.
Much of that workforce is based in Northern Virginia, home to major federal agencies like the Pentagon and firms that rely on government contracts. The Northern Virginia Regional Commission estimates more than 81,000 federal civilian jobs are located in the region, representing 2.7% of the national federal workforce and 6.3% of the state’s. Another 175,000 federal employees live in Northern Virginia but work in D.C. or nearby jurisdictions.
One caveat, however, is that those figures only cover Prince William, Loudoun, Fairfax and Arlington counties and the city of Alexandria. They leave out surrounding areas like Stafford and Spotsylvania counties, where many federal workers and contractors live.
“I have a whole lot of neighbors who are contractors that work either at Fort Belvoir or Quantico,” said Terry Clower, director of the Center for Regional Analysis at George Mason University and a Stafford County resident. “So yeah, those numbers… look a lot different depending on who exactly you include.”
In a March presentation to the Fairfax County Board of Supervisors, Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority, flagged a steep drop in job postings – from 92,000 in February to just 44,000 in March.
“That’s contractors pulling back, saying, I’m not going to take the chance on hiring somebody because the business might not be there,” Hopkins said. “Other contractors are saying I don’t have a contract anymore.”
https://www.msn.com/en-us/money/markets/northern-virginia-braces-for-more-job-losses-amid-trump-administration-uncertainty/ar-AA1CxynJ
Federal workers rally in Lincoln against job cuts, loss of union rights
LINCOLN, Neb. (KOLN) – About three dozen people, including federal workers and union leaders, gathered on the corner of 70th & O streets in Lincoln Tuesday evening to share a message.
“We’re just workers like everybody else living in modest homes like everyone else,” Ruark Hotopp, National Vice President for the American Federation of Government Employees District 8, said. “The same churches, our kids play on the same playgrounds. We’re not the enemy. We’re not demons. We’re humans too.”
The American Federation of Government Employees (AFGE) held a protest against the Trump administration, job cuts and the executive order ending collective bargaining within federal unions.
“Collective bargaining agreements typically entail workers rights to essentially a fair trial when it comes to disciplinary actions, and to opportunities to, like if they are doing poorly in their performance, get new training,” Carrie Moore, AFGE Local President, said.
Local AFGE leaders said they’re not only hearing about the impacts, but are feeling them themselves.
“It honestly makes me very fearful that somebody could just decide, ‘Oh, you don’t deserve to have this job anymore,‘” Moore said.
https://www.msn.com/en-us/news/us/federal-workers-rally-in-lincoln-against-job-cuts-loss-of-union-rights/ar-AA1CyZCR
“We’re just workers like everybody else living in modest homes like everyone else,” Ruark Hotopp
No Ruark, you’re not like everybody else. Everybody else would be out in the streets with a resume looking for a job.
Federal cuts jeopardize Silicon Valley community funders
Community financial institutions are the backbone to a healthy society, providing loans for small businesses, disaster recovery, low-income families, immigrant communities and affordable housing developments. That essential service is now in danger.
President Donald Trump’s executive order to dismantle the Community Development Financial Institutions Fund (CDFI) last month put a target on these institutions and brought to surface the role they play. Even though CDFI activities are protected by law, and therefore cannot be eliminated, potential staff cuts still pose a risk to the fund that oversees grants for community development, experts said.
“If they fire everybody that knows how to administer this complex program, that’s going to be a problem,” Alison Cingolani, policy director of nonprofit SV@Home, told San José Spotlight.
The CDFI Fund provides grants to the more than 1,430 CDFIs across the country, which enables local institutions to provide loans to individuals with low credit scores, for disaster recovery, green energy, economic revitalization and more in underfunded areas.
In Santa Clara County, Housing Trust Silicon Valley, a CDFI, provides seed money to affordable housing projects. The trust provides loans to about 15 to 20 developments each year, CEO Noni Ramos said, including the Quetzal Gardens Apartments completed in 2021. Cuts to the CDI Fund could potentially hinder projects from getting off the ground. The housing trust provides about $4 million to $5 million in loans per project.
“It could slow our ability to be able to then go out and raise those public dollars, which, at the end of the day, that’s what we’re then able to lend to those affordable housing developers,” Ramos told San José Spotlight.
Dora Beyer, director of community development at Excite Credit Union, said without the CDFI Fund’s grant dollars, some programming would have to be cut, including one that provides a $3,000 grant to small business owners. More than 60% of the credit union’s lending goes to low- and moderate-income households, Beyer said. They provide a range of loans, including car, student and personal loans along with mortgages.
“We specifically aim to reach out to folks who historically mistrust financial institutions who may be unbanked, under banked or credit invisible,” Beyer told San José Spotlight. “CDFIs and credit unions across the nation are really the ones who proactively aim to reach those communities.”
https://www.msn.com/en-us/money/other/federal-cuts-jeopardize-silicon-valley-community-funders/ar-AA1CyBiH
From infrastructure to playgrounds, $264M for Pa. projects this year vanished in Congress’ budget battle
Bensalem Township wants to build a new fire station. Sharon Hill’s library needs renovations, and SEPTA’s subway entrances on Market Street were planning a much-needed facelift.
Each project was slated for federal funding this year, which has vanished. When Congress passed the continuing resolution, or CR, to keep the government open last month, it bypassed the traditional budget process, which would have included earmarks, now called community project funds, amounting to about $264 million destined for Pennsylvania for the 2025 fiscal year.
“Because of the Republicans’ Continuing Resolution budget, Community Project Funding programs were left unfunded and in limbo,” said U.S. Rep. Chrissy Houlahan, (D., Chester), who had 15 projects lined up for funding this year.
“It’s kind of like having your kids fail out of Christmas this year,” said U.S. Rep. Mike Kelly (R., Butler), who was approved for the second-most funding of any House member behind U.S. Rep. Brian Fitzpatrick (R., Bucks). ”You think Santa Claus is bringing everything, and they come down Christmas morning, and there’s nothing under the tree.”
https://www.msn.com/en-us/politics/government/from-infrastructure-to-playgrounds-264m-for-pa-projects-this-year-vanished-in-congress-budget-battle/ar-AA1CvQLh
Fannie Mae fires more than 100 employees for unethical conduct, including the facilitation of fraud
“Since my swearing-in, we fired over 100 employees from Fannie Mae who we caught engaging in unethical conduct, including facilitating fraud, against our great company,” William J. Pulte, chair of Fannie Mae’s board of directors, said in a statement.
In his Tuesday statement, the Pulte said under the Trump administration there would be no room for fraud, mortgage fraud or “any other deceitful act that can jeopardize the safety and soundness of the housing industry.”
Further details on the firings were not revealed. However, Pulte did note that the agency reduced 25 percent of staff as ordered by the Department of Government Efficiency (DOGE).
“We exceeded DOGE’s expectations at U.S. Federal Housing (FHFA), with an over 25 percent reduction in the Agency’s active workforce,” he wrote in a Tuesday afternoon post on the social platform X.
https://www.msn.com/en-us/money/companies/fannie-mae-fires-more-than-100-employees-for-unethical-conduct-including-the-facilitation-of-fraud/ar-AA1CyurW
Fraud is the Democrat Party’s entire reason for being. Rooting it out is going to spark furious resistance from those who have no marketable skills and who are barnacles on the ship of state.
Since my swearing-in, we fired over 100 employees from Fannie Mae who we caught engaging in unethical conduct, including facilitating fraud
They’re getting off easy. They should be doing a perp walk.
IRS acting commissioner is resigning over deal to send immigrants’ tax data to ICE, AP sources say
The acting commissioner of the Internal Revenue Service is resigning over a deal to share immigrants’ tax data with Immigration and Customs Enforcement for the purpose of identifying and deporting people illegally in the U.S., according to two people familiar with the decision.
Melanie Krause, who had served as acting head since February, will step down over the new data-sharing document signed Monday by Treasury Secretary Scott Bessent and Homeland Security Secretary Kristi Noem. The agreement will allow ICE to submit names and addresses of immigrants inside the U.S. illegally to the IRS for cross-verification against tax records.
Todd Lyons, acting ICE director, told reporters at the Border Security Expo in Phoenix on Tuesday that the agreement will help ICE find people who are collecting benefits they aren’t entitled to and are “kind of hiding in plain sight” using someone else’s identity.
Working with Treasury and other departments is “strictly for the major criminal cases,” Lyons said.
https://www.msn.com/en-us/politics/government/internal-revenue-service-agrees-to-send-immigrant-tax-data-to-ice-for-enforcement/ar-AA1CxCK3
Philly’s Carnaval de Puebla canceled amid fears ICE might target the Mexican cultural celebration
The Carnaval de Puebla, the big annual celebration of Mexican culture in South Philadelphia, has been canceled this year out of fear that ICE might target the event to make immigration arrests.
The festival was scheduled for April 27, and expected to draw the estimated 15,000 revelers who have made it one of the largest carnavals on the East Coast. Now many of those who planned to travel from as far as California and Mexico have told organizers they are not coming, concerned about President Donald Trump’s aggressive policies toward immigrants.
Olga Renteria, who serves on the carnaval committee and is active in Philadelphia’s Mexican community, said organizers had little choice, given the worries people expressed for themselves or undocumented family members.
“People don’t want to participate because of what’s going on,” she said Tuesday. “People worry if they show up for the carnaval and ICE is waiting for them.”
Organizers were also having trouble raising money to put on the event, officially known as El Carnaval de Puebla en Philadelphia, she said.
In 2017, during the first Trump presidency, Philadelphia organizers of Carnaval de Puebla canceled the event for similar reasons, fearing that a large gathering of Mexican people could become a target for immigration enforcement actions.
“People are scared,” Edgar Ramirez, an organizing committee leader, said at the time. “The atmosphere is not good.”
In Philadelphia, an estimated 47,000 residents are undocumented, part of 153,000 statewide, with an additional 440,000 in New Jersey.
In mid-2023 the United States was home to about 13.7 million undocumented immigrants, an all-time peak, as calculated recently by the Migration Policy Institute in Washington. About 40%, an estimated 5.5 million people, are Mexican.
https://www.msn.com/en-us/news/us/philly-s-carnaval-de-puebla-canceled-amid-fears-ice-might-target-the-mexican-cultural-celebration/ar-AA1Cy4mJ
“People are scared,” Edgar Ramirez, an organizing committee leader, said at the time. “The atmosphere is not good.”
If I were to sneak into another illegally I too would be worried about being deported, which is why I don’t do it.
The bottom line is that these people think they got away with it and are finding out they were wrong
If I were to sneak into another illegally I too would be worried
I was overseas recently and the Deportation Police actually stop buses there and check for illegals. The buses I was on were not stopped but I was told if you are illegal you can bribe the bus driver and he will let you early if he hears of a Deportation stop coming ahead.
Yet these same countries lose their minds and accuse us of being natzies when we deport their people back to them.
‘Catastrophe’: Volkswagen town rattled by Trump trade war
The dour mood at Germany’s crisis-hit auto giant Volkswagen has given way to angst and fury as US President Donald Trump has escalated a trade war against friends and foes alike.
Veteran auto workers who spent decades at the plants of Germany’s storied industrial titan fear for the worst since Trump has ramped up a range of import tariffs, sparking global market turmoil.
“A catastrophe, terrible,” said retired VW autoworker Richard Arnold, 85, expressing a sentiment widely shared in Wolfsburg, where the carmaker is headquartered and which is dominated by the smoke stacks of its own power plant.
A veteran of Europe’s biggest car manufacturer, Arnold predicted that “America will suffer just as much with the price increases” sparked by Trump’s aggressive trade policies.
Volkswagen — a 10-brand group which also includes Audi and Porsche as well as Seat and Skoda — sold just over one million vehicles in North America last year, 12 percent of its sales by volume.
The company has so far been restrained in its response, with a Volkswagen spokesman telling AFP that the carmaker was assessing its options.
Another retired VW worker, Friedhelm Wolf, 70, was far more outspoken.
“Absolute nonsense … actually just idiocy,” he fumed. “The man in the White House doesn’t know what he’s doing.”
Now, Wolf said, it’s time “to wait and see” how the conflict pans out.
“Well, you can first try to negotiate,” he said. “And if that doesn’t help, you just have to raise the tariffs.”
“The problem is, we don’t buy that many cars made in the USA.”
Another 85-year-old VW veteran, who only gave his name as Nicky, voiced dark fears about the impact of it all on VW’s current workforce.
“Those who are still working don’t even know what’s going to come their way,” he told AFP.
He said the EU had proposed a zero-tariff regime with the United States, “but it’s not being accepted”.
This, Nicky said, could spark a transatlantic tit-for-tat battle “which will escalate things …. It’s a catastrophe at the moment.”
https://www.msn.com/en-xl/africa/nigeria/catastrophe-volkswagen-town-rattled-by-trump-trade-war/ar-AA1CAQZy
Meh, VW was already busy offshoring factories. Those jobs were already lost.
VW is among the globalist German corporations that replaced most of its heritage German workers with imported North African labor. Globalists gonna globe.
And the Turks are nutting their blue eyed blondes.
their blue eyed blondes
Only so because the Vikings were there before.
In one of Ontario’s poorest ridings, a job coach braces for a busy season as Trump’s tariffs sting
More than a decade before the second election of Donald Trump, before it was in vogue to shun American-made products, Oakwood Place on Barton Street dropped its concert announcements and changed its marquee to read: Save our jobs, shop Canadian.
But as many in Hamilton have learned the hard way, the plea posted at the now-abandoned social club wasn’t enough to keep workers afloat. Instead, many of them have turned to the man in the office a few doors down, Jim Huff.
At the United Steelworkers Adjustment Centre, Mr. Huff has been a coach of sorts through job loss and turmoil. He started co-ordinating the centre’s free services some 25 years ago, after a massive wave of layoffs at local employers, including his own workplace – a manufacturer of plastic containers.
Since then, Mr. Huff has helped find work for those left adrift by changing economic tides in Hamilton: skilled tradespeople, sheet operators, packers, sorters, inspectors. All told, he estimates some 12,000 such workers have passed through the centre having lost good jobs, benefits and pension plans.
With manufacturing expected to take another beating in the global trade war launched by the Trump administration, the issue of employment remains front and centre for the people of Hamilton Centre during this year’s federal election campaign. Today, the riding is the third-poorest electoral district in Ontario.
ArcelorMittal Dofasco (to locals, it will always be just Dofasco) still employs some 5,000 people, while rival Stelco clawed its way out of creditor protection and assorted ownership changes to reopen its coke ovens (and buy a stake in the city’s beloved Tiger-Cats football team).
That has made the 25-per-cent tariffs imposed by the U.S. on Canadian steel in March particularly sting here. Mayor Andrea Horwath says the brewing trade war could deal a $1-billion blow to Hamilton.
Mr. Huff says it feels like the city is holding its breath. “We don’t know what’s going to happen,” he said. “Certainly, the times we’re going through now, it shows you the importance of having manufacturing and being self-sustaining as a country.”
Stephen Lechniak, 74, grew up in central Hamilton just off Barton Street, frequenting dances and social gatherings at its many churches and halls. He worked for 36 years as a Stelco metallurgical inspector and furnace operator, but left the company in 2009 after U.S. Steel took over, closed his rod and bar mill, and moved him onto a labour gang shovelling snow and scraping tar. The working conditions, he said, pushed him to an unwelcome early retirement.
But when he looks around him, he wonders how younger generations will muddle through the uncertainty and expense of today’s Hamilton.
“You don’t have to look far to see a deterioration in services that the city provides,” he said.
“Look at our streets. It has to be the worst city in North America for potholes. And I would like to sit down with somebody who could explain to me, why can we not afford something as elemental as that?”
While he believes the shift to cleaner jobs is positive, Mr. Lechniak still sees steel as a solid bet – if you can find the work. Recently, he was stunned to meet a middle-aged doctoral graduate from McMaster University who made the same wage as a current Stelco employee.
“Why are so many young people living with their parents today? It’s because of necessity,” he said.
https://www.theglobeandmail.com/politics/federal-election/article-federal-election-2025-trump-tariffs-hamilton-ontario-manufacturing/
‘it shows you the importance of having manufacturing and being self-sustaining as a country’
That’s what we’re doing Jim.
‘it shows you the importance of having manufacturing and being self-sustaining as a country’
Meanwhile, the UK is shutting down its last steel mills.
While the #1 baby’s name is “Mohammad.”
+1 OH MY
It’s only a matter of time.
Thinking in L.A.
Until now, they were simply the least noticeable immigrant community in Hollywood: a ubiquitous but largely uncontroversial force behind America’s signature cultural products, their nationality rarely more than a trivia question.
On a recent Saturday, however, those Canadians decided en masse that it was time to make a show of themselves. Thousands of showbiz hosers bought blocks of tickets and made the drive to L.A.’s downtown stadium, many in blue-and-white jerseys.
The Los Angeles Kings were playing the Toronto Maple Leafs in the first Canada-U.S. game here since Donald Trump’s punishing tariffs came into effect, and only days after Mark Carney had called an election that was widely predicted to be a contest over how Canada would battle Mr. Trump.
A pair of Canadian-born TV producers seated beside me remarked that nobody in our section was seeing this as Toronto versus L.A., but as Canada’s chance to get back at the increasingly ugly Americans. More than that, it was a rare chance to express the new mood of fiercely defensive nationalism that’s arisen since Mr. Trump began uttering near-daily threats to Canada’s sovereignty and existence.
“I’ve always felt comfortable being both Canadian and American, and it used to feel like there were no contradictions between the two,” said Tim Long, who grew up in Exeter, Ont., and has been a writer and producer for The Simpsons since 1999. “But now it feels like there are severe contradictions – obviously, especially when you come from the country that Trump, perversely, has decided he hates more than any other country apart from, arguably, Ukraine.”
For people like Mr. Long, who says he has become obsessively interested in the minutiae of the Canadian federal election, the Trump administration’s repeated attacks on Canada feel deeply personal. “It sort of feels like – I remember being at school and some bully deciding, ‘I think I’m going to punch you every time I see you,’ and just that feeling of fear and hopelessness and confusion. Like, what did I do to deserve this? I’m just minding my own business, but someone just decides they want to pick on you. That’s how it is as a Canadian – what did we do to deserve this? Why is he so fixated on us?”
“I think there was a feeling in the first Trump term that satire will save us if we keep making fun of this guy. That’s how we take down people,” said Mr. Long, who co-created a Simpsons episode during the first Trump term, titled “D’oh Canada,” in which Lisa Simpson flees Trump-era extremism by becoming a refugee in an idealized Canada. He said he doubted that an episode like that would work this time around.
“I don’t think anybody really thinks that way any more. I do think it’s important to keep at it. But also, it can really boomerang and make you feel like we’re just normalizing this guy. … We could do it again, but it wouldn’t feel right. Because I think all satire is sort of secretly a little bit loving, and that’s not how anyone’s feeling now.”
https://www.theglobeandmail.com/politics/federal-election/article-federal-election-2025-donald-trump-hollywood-canadians-identity-crisis/
More than that, it was a rare chance to express the new mood of fiercely defensive nationalism that’s arisen since Mr. Trump began uttering near-daily threats to Canada’s sovereignty and existence.
What kind of “nationalists” embrace a globalist quisling regime that is making Heritage Canadians a dispossessed minority in the land of their ancestry?
What kind of “nationalists” embrace a globalist quisling regime
I have to hand it to the WEF, they might just pull it off and keep the Liberal party in control. Did anyone complain when the new PM was parachuted into Ottawa?
IF Canada is so great, why are they here? go back
It’s not the economy, stupid. That’s not why Trump tariffs the world
It is, after all, dangerous to attribute too much forethought to Trumpian policy. As an economist, I strongly disagree with the merit and execution of this tariff strategy.
Yet, it is still possible to acknowledge some logic in the administration’s strategy. Focusing on the immediate economic effects might miss the broader strategy behind Mr. Trump’s trade offensive. Beneath the rhetoric on trade deficits may lie a larger gambit – one aimed at shoring up U.S. national security. Canadian policy makers should realize this when dealing with the Trump administration.
If we listen carefully to what they say, it’s clear that Mr. Trump – and the economists advising him – see tariffs not merely as tools to protect industries, but as leverage to redistribute the costs of U.S. global leadership. In their view, America’s military and security commitments have become a global public good akin to policing – a costly service the U.S. provides, and for which its allies and trading partners have been “free riders.”
For decades it has provided global security, stable trade routes and a reserve currency. Allies and trading partners – the neighbouring towns – have benefited from this U.S.-led order, whether by underfunding their own defence or running export-led economies under the U.S. security umbrella. Mr. Trump’s solution to free-riding is to use America’s economic power to make others indirectly pay for U.S. security. Tariffs, in this world view, are less about balancing trade than about paying a bill for the U.S. defence umbrella.
If this sounds a little too fanciful, it’s worth reading Stephen Miran’s A User’s Guide to Restructuring the Global Trading System. Mr. Miran – an economist currently serving as chair of the Council of Economic Advisers – argues that U.S. trade and currency policy should serve national security ends. He writes that the U.S. “security umbrella should be financed by the beneficiaries” and that “national security and trade are joined at the hip.” Mr. Trump himself has long linked trade and security. He complains that allies “rip us off” on trade and defence and has openly threatened to withhold military protection from countries that don’t pay up.
Additional evidence for this geoeconomic interpretation was on display in the “Houthi small group” text messages, where National Security Advisor Mike Waltz states, “Per the president’s request we are working with DOD and State to determine how to compile the cost associated [with the bombing] and levy them on the Europeans.”
Seen from this perspective, “Liberation Day” was never just about economics.
The United States’ defence budget is nearly US$1-trillion. And no country, including the world’s economic engine, can perpetually run deficits exceeding 6 per cent of GDP. By tying tariff relief to security co-operation, the White House is sending a message: If you enjoy the protection of Pax Americana, you must contribute to its upkeep.
Canada was lucky to be spared on Liberation Day. But the true test will be how Canada responds to the underlying message. Ottawa could simply breathe a sigh of relief and hope for the best. Alternatively, it could acknowledge that economic and security policies are no longer separate realms. This exposes an uncomfortable truth: the U.S. is effectively monetizing its role as global peacekeeper, and even friends like Canada are expected to pay tribute. In the new era of transactional geopolitics, nobody rides for free.
https://www.theglobeandmail.com/business/commentary/article-its-not-the-economy-stupid-thats-not-why-trump-tariffs-the-world/
As
an economista globalist, I strongly disagree with the merit and execution of this tariff strategy.Fixed
National forests face the hatchet as Trump administration boosts logging
The United States has announced sweeping changes to encourage more logging in the country’s national forests. A new emergency order requires rolling back environmental protections on almost 60% of the national forests, more than 112 million acres of land mostly in the west.
The Secretarial Memo issued by U.S. Secretary of Agriculture Brooke Rollins established an “Emergency Situation Determination” and will allow the Forest Service to bypass many existing environmental rules. Protections against wildfires and the need to boost the U.S. timber industry were cited as reasons.
“I am proud to follow the bold leadership of President Trump by empowering forest managers to reduce constraints and minimize the risks of fire, insects, and disease so that we can strengthen American timber industry and further enrich our forests with the resources they need to thrive,” Rollins said in a statement.
A follow-up letter from the U.S. Forest Service called for an increase of 25% in the volume of timber being offered for logging. The order follows two earlier executive orders in March by President Donald Trump to expand U.S. timber production and address wood product imports.
“These are common sense directives,” the American Forest Resource Council said in a statement. “Only 35% of national forests are available for timber harvests, while 65% is designated for non-timber uses, such as wilderness and other areas set aside for protection,” the group said.
Trump’s proposed tariffs on Canada could significantly impact lumber availability. Currently Canada accounts for about 85% of all U.S. softwood lumber imports, according to the National Association of Home Builders.
That is likely to change with a more than doubling of timber tariffs. The U.S. Department of Commerce’s proposed tariff rate will be 34% for Canadian lumber.
Canadian timber imports had already been subject to a 14.54% tariff, raised from 8.05% by the Biden administration in August 2024 as part of an annual review of existing tariffs.
https://www.msn.com/en-us/news/us/national-forests-face-the-hatchet-as-trump-administration-boosts-logging/ar-AA1CwYu4
My brother was in Mexico City last week. He told me that friends and relatives asked him how bad the economy was in the US, because of the tariffs. He told them, to their astonishment, that business was great and that head hunters cold call him (he’s a supply chain guy). They were expecting him to tell tales of woe.
Hopefully the logging will be well-managed thinning of the trees, and is not just indiscriminate clear-cutting.
Have you ever been in a softwood forest? It’s dead except for the trees. No light gets to the floor. I drove past forests in K-da that were so dense, there’s no way deer or elk could walk through. The only places where there is diverse life is in the cleared/burned areas, along highways or pipelines. The Indians around Flagstaff say that in the old days fires were so common, a crazy amount of open space used to exist. But there were still millions of living trees.
Birds of prey can’t see through dense brush, so they move on.
If a realtor lies in the wood & no one hears it, is it still a lie?
yo PM byuerz
In today’s video, we take a look at a package sent in by a viewer who bought what was supposed to be Silver American Eagles from Walmart. But when the box arrived, something wasn’t right. You won’t believe what we found when we opened it! This is a must-watch for anyone buying silver online! 10 min
https://www.youtube.com/watch?v=iZ5iKZZ38j8
Arcuri added that most Canadians in Florida own condominiums, and he believes selling now would be short-sighted. ‘Because you’ve got an overabundance [of condos], there’s more inventory now than there’s been in the last 25 years,’ Arcuri said.”
1. Realtors are liars
2. This is as good as it gets, K-Dans, as Housing Bubble Bust 2.0 only accelerates from here.
Moshe ‘Mark’ Silber, 34, of New York, and Fredrick Schulman, 72, of New York, were sentenced for their respective roles in a conspiracy to commit wire fraud affecting a financial institution.
Another Amish fraud ring. #Noticing.
So much for refinancing yer shack, FBs.
https://x.com/mortgagetruth/status/1909820865291899380
‘To alienate that group of people would have a huge negative impact. Especially with it being the last thing Florida needs right now after the hurricanes and the insurance crisis, is to have a large group like that deciding to put their properties on the market in an already flooded market,’ Arcuri said. Arcuri added that most Canadians in Florida own condominiums, and he believes selling now would be short-sighted. ‘Because you’ve got an overabundance [of condos], there’s more inventory now than there’s been in the last 25 years’
Yer right Vince, hold the line, elbows up for Florida!
‘The city of Chicago is selling empty lots for $1 while spending more than $800,000 per unit on affordable housing’
Central planing!
‘‘The laws of physics haven’t yet kicked in. Or, in this case, the laws of economics. But they are called ‘laws’ for a reason.’ Desperate and/or intransigent building owners or operators unable or unwilling to offer market-realistic rents are going to eventually bite the bullet, go into foreclosure or otherwise come to real-estate Jesus’
Hallelujah reverend Ted, that’s the spirit!
‘I think projects just won’t start and people will get their deposits back…And maybe one of four projects will be successful because people that are wanting to buy will accumulate to the project that is most likely to start’
And everybody who gets their money back, some don’t, will say, prices have gone up so much since I put my deposit down, I’m fooked! Actually pre construction airboxes are always a pure multi year gamble. Usually full of broke a$$ losers who had no business buying anything. Which is why they fold like cards at the first hint of trouble.
‘I am kicking myself that I was stupid enough to ever open that front door, but I was anticipating cheaper power bills’
Christine:
Ennio Morricone – the ecstasy of gold
theItalyWiki
14 years ago
Ennio Morricone conducting his own composition, “The Ecstasy of Gold” from the film, “The Good, the Bad and the Ugly.”
https://www.youtube.com/watch?v=rKFpaCMRWgU
3:45.
‘he talked about his regret, saying that his flat basically turns into an oven from noon onwards, making it super uncomfortable to even hang out in the living room. ‘Me and my wife were sold by the view of the unit. When we were at the viewing. Aircon is on as usual. However, after purchasing and signing the OTP. I realised it has the western sun!!!’ he exclaimed. ‘Now every afternoon between 4 p.m. to 6 p.m. We are BBQ-ed. To the extent that I even got a heat rash in my living room while playing a game.’ Still, despite the sweltering afternoons, the man said he and his wife ‘love the flat’ because everything else is perfect, and that they ‘can live with this one regret’
That’s why yer winnahs! man and wife.
Singapore is 1-degree N of the equator, so they’re really getting broiled by the sun. At the end, that piece mentioned window films, and I’d venture a guess their ceramic tint is mighty popular.
Condo Market Flooded But Buyers See No Benefit (GTA Condo Real Estate Market Update)
Team Sessa Real Estate
1 hour ago TORONTO
We also discuss how so many listings are flooding the market but most buyers are still only focusing on a small few that are for sale. This episode looks at the current GTA Condo Markets – Toronto, York Region & Peel Region for the week ending April 2, 2025.
https://www.youtube.com/watch?v=CsQ4xQfbcFw
15 minutes.
At 11:45, downtown Toronto airboxes had .024 percent of condos for sale sell in a week. This area has 30% of the airboxes available for sale in Toronto.
Reportedly coming from the White House yesterday.
https://youtu.be/e3nar3xoJ7A?si=gfqsMwQGNR0C8nXE