Archive for the ‘Donald Trump’ Category

Is This the Beginning of the End of American Racism? – The Atlantic

I.

Marine One waited for the president of the United States on the South Lawn of the White House. It was July 30, 2019, not long past 9 a.m.

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Donald Trump was headed to historic Jamestown to mark the 400th anniversary of the first representative assembly of European settlers in the Americas. But Black Virginia legislators were boycotting the visit. Over the preceding two weeks, the president had been engaged in one of the most racist political assaults on members of Congress in American history.

Like so many controversies during Trumps presidency, it had all started with an early-morning tweet.

So interesting to see Progressive Democrat Congresswomen, who originally came from countries whose governments are a complete and total catastrophe, the worst, most corrupt and inept anywhere in the world (if they even have a functioning government at all), now loudly and viciously telling the people of the United States, the greatest and most powerful Nation on earth, how our government is to be run, Trump tweeted on Sunday, July 14, 2019. Why dont they go back and help fix the totally broken and crime infested places from which they came. Then come back and show us how it is done. These places need your help badly, you cant leave fast enough.

Trump was referring to four freshman members of Congress: Ilhan Omar of Minnesota, a Somali American; Ayanna Pressley of Massachusetts, an African American; Rashida Tlaib of Michigan, a Palestinian American; and Alexandria Ocasio-Cortez of New York, a Puerto Rican. Pressley screenshotted Trumps tweet and declared, THIS is what racism looks like.

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On the South Lawn, Trump now faced reporters and cameras. Over the drone of the helicopter rotors, one reporter asked Trump if he was bothered that more and more people were calling him racist.

I am the least racist person there is anywhere in the world, Trump replied, hands up, palms facing out for emphasis.

His hands came down. He singled out a vocal critic, the Reverend Al Sharpton. Now, hes a racist, Trump said. What Ive done for African Americans, no president, I would say, has done And the African American community is so thankful.

It was an absurd statement. But in a twisted way, Trump was right. As his administrations first term comes to an end, Black Americansindeed, all Americansshould in one respect be thankful to him. He has held up a mirror to American society, and it has reflected back a grotesque image that many people had until now refused to see: an image not just of the racism still coursing through the country, but also of the reflex to deny that reality. Though it was hardly his intention, no president has caused more Americans to stop denying the existence of racism than Donald Trump.

We are living in the midst of an anti-racist revolution. This spring and summer, demonstrations calling for racial justice attracted hundreds of thousands of people in Los Angeles, Washington, New York, and other large cities. Smaller demonstrations erupted in northeastern enclaves such as Nantucket, Massachusetts, and Bar Harbor, Maine; in western towns such as Havre, Montana, and Hermiston, Oregon; in midsize cities such as Waco, Texas, and Topeka, Kansas; and in wealthy suburbs such as Chagrin Falls, Ohio, and Darien, Connecticut.

Adam Serwer: Protest is the highest form of patriotism

Veteran activists and new recruits to the cause pushed policy makers to hold violent police officers accountable, to ban choke holds and no-knock warrants, to shift funding from law enforcement to social services, and to end the practice of sending armed and dangerous officers to respond to incidents in which the suspect is neither armed nor dangerous. But these activists werent merely advocating for a few policy shifts. They were calling for the eradication of racism in America once and for all.

The president attempted to portray the righteous demonstrations as the work of looters and thugs, but many of the people watching at home didnt see it that way. This summer, a majority of Americans57 percent, according to a Monmouth University pollsaid that police officers were more likely to use excessive force against Black culprits than they were against white ones. Thats an increase from just 33 percent in December 2014, after a grand jury declined to indict a New York City police officer in the killing of Eric Garner.

Whats more, by early June, roughly three out of four Americans were saying that racial and ethnic discrimination is a big problem in the United Statesup from only about half of Americans in 2015, when Trump launched his presidential campaign.

It would be easy to see these shifts as the direct result of the horrifying events that have unfolded in 2020: a pandemic that has had a disproportionate effect on people of color; the video of George Floyd dying beneath the knee of an impassive Minneapolis police officer; the ghastly killing of Breonna Taylor, shot to death in her own home.

Yet fundamental shifts in American views of race were already under way before the COVID-19 disparities became clear and before these latest examples of police violence surfaced. The percentage of Americans who told Monmouth pollsters that racial and ethnic discrimination is a big problem made a greater leap from January 2015 (51 percent) to July 2016 (68 percent) than from July 2016 to June 2020 (76 percent). What we are witnessing right now is the culmination of a longer processa process that tracks closely with the political career of Donald Trump.

In the days leading up to Trumps attack on Omar, Pressley, Tlaib, and Ocasio-Cortez, Fox News slammed the Squad, especially Omar. All four had been publicly sparring with House Speaker Nancy Pelosi over a $4.6 billion border-aid package that they thought did not sufficiently restrain Trumps immigration policies.

Yet Pelosi promptly defended her fellow Democrats on July 14, 2019. When @realDonaldTrump tells four American Congresswomen to go back to their countries, Pelosi tweeted, he reaffirms his plan to Make America Great Again has always been about making America white again.

It has always been a racial slur for white Americans to tell Americans of color, Go back to your country. Because their country is New York City, where Ocasio-Cortez was born. Their country is Detroit, Tlaibs birthplace. Their country is greater Boston, where Pressley lives. Their country is the United States, to which Omars family immigrated when she was young.

Ibram X. Kendi: Am I an American?

As Democratic politicians raged at the president that Sunday, Republicans were silent. Its become frighteningly common for many of my Republican colleagues to let these moments sail by without saying even a word, Minority Leader Chuck Schumer said on the Senate floor.

To be fair, by Monday, a few Republicans, including Representatives Mike Turner of Ohio and Will Hurd of Texas, had called the presidents tweets racist. But Trump, emboldened by the silence from the rest of his caucus, doubled down on his attacks.

IF YOU ARE NOT HAPPY HERE, Trump wrote to the four women on Twitter, YOU CAN LEAVE.

The president added: If Democrats want to unite around the foul language & racist hatred spewed from the mouths and actions of these very unpopular & unrepresentative Congresswomen, it will be interesting to see how it plays out.

By Monday night, House Democrats had had enough. They introduced a resolution to strongly condemn the presidents racist tweets.

Trump woke up the next morning once again in a state of angry denial. Those Tweets were NOT Racist, he tweeted. I dont have a Racist bone in my body!

For better or worse, Americans see themselvesand their countryin the president. From the days of George Washington, the president has personified the American body. The motto of the United States is E pluribus unumOut of many, one. The one is the president.

To Trump, and to many of his supporters, the American body must be a white body. When he launched his presidential campaign, on June 16, 2015, he began with attacks on immigrants of color and on the person whose citizenship hed falsely questioned as a peddler of birtherism: Barack Obama. They were all desecrating the American body. Of Mexican immigrants, he said: Theyre bringing drugs. Theyre bringing crime. Theyre rapists. Of Obama, he said: Hes been a negative force. We need somebody that can take the brand of the United States and make it great again.

Trump presented himself as that somebody. To make America great again, he would make it seem as if a Black man had never been president, erasing him from history by repealing and replacing his signature accomplishments, from the Affordable Care Act to DACA, the Deferred Action for Childhood Arrivals policy. He would also build a wall to keep out immigrants, and he would ban Muslims from entering the country.

Days after first proposing his Muslim ban, in December 2015still early in his candidacyTrump told CNNs Don Lemon, I am the least racist person that you have ever met.

Trumps denial was audacious, but back then, his audacity only contributed to the complacent sense among many Americans that this interloper from reality television posed no serious threat. Yet the Americans who dismissed Trumps chances were living in denial themselves.

For many, Obamas presidency was proof that the country was rising to its ideals of liberty and equality. When a Black man climbed to the highest office in the land, it signified that the nation was postracial, or at least that history was inexorably bending in that direction. The Obama administration itself boasted that it was fighting the remnants of racisma mop-up operation in a war that was all but won.

I was less sanguine. In the months leading up to the 2016 election, I told family and friends that Trump had a good chance of winning. Across American history, racial progress has normally been followed by its opposite.

So I was glad to be alone on Election Night. I did not want to see people I loved shocked that a racist nation had elected a racist president. On November 8, 2016, I watched the returns come in by myself, on the couch. My daughter, Imani, was sleeping in her crib. My wife, Sadiqa, was at the hospital, treating patients during an overnight shift in the pediatric emergency department.

I stayed up until 1:35 a.m. When Trump carried Pennsylvania, I turned off the television and called Sadiqa to hear how her shift was going. Our conversation was brief; she had to get back to her patients. Later, I would read about how, around 2:50 a.m., Trump greeted his exuberant supporters in New York City with a victory speech. He pledged to be a president for all Americans.

Within days of being sworn in, Trump broke that promise. He reversed holds on two oil-pipeline projects, including one through the Standing Rock Indian Reservation, which was opposed by more than 200 Indigenous nations. He issued executive orders calling for the construction of a wall along the southern border and the deportation of individuals who pose a risk to public safety or national security. He enacted his first of three Muslim bans.

By the end of the spring, Attorney General Jeff Sessions had directed federal prosecutors to seek the harshest prison sentences whenever possible. Sessions had also laid the groundwork for the suspension of all the consent decrees that provided federal oversight of law-enforcement agencies that had demonstrated a pattern of racism.

Led by Steve Bannon and Stephen Miller, the administration worked on ways to restrict immigration by people of color. There was a sense of urgency, because, as Trump said at a private White House meeting in June 2017, Haitians all have AIDS and Nigerians would never go back to their huts once they came to the United States.

Then came Charlottesville. On August 11, 2017, about 250 white supremacists marched on the University of Virginia campus, carrying torches that lit up the night sky with racism and anti-Semitism. Demonstrating against Charlottesvilles plan to remove statues honoring Confederates, they chanted, Blood and soil! They chanted, Jews will not replace us! They chanted, White lives matter!

The white supremacists clashed with anti-racist demonstrators that night and the next afternoon. White lives did not matter to the white supremacist James Alex Fields Jr. He drove his Dodge Challenger into a crowd of counterprotesters, murdering Heather Heyer and injuring 19 others.

We condemn, in the strongest possible terms, this egregious display of hatred, bigotry, and violence on many sides, on many sides, Trump said in response. He spoke about there being very fine people on both sides.

Adam Serwer: After Charlottesville, the white nationalists are winning

On September 5, 2017, Trump began his long and unsuccessful attempt to eliminate DACA, which deferred deportations for roughly 800,000 undocumented immigrants who had arrived in the U.S. as children. The Trump administration also began rescinding the Temporary Protected Status of thousands of refugees from wars and natural disasters years ago in Sudan, Nicaragua, Haiti, El Salvador, Nepal, and Honduras.

Near the end of his first year in office, Trump wondered aloud at a White House meeting: Why are we having all these people from shithole countries come here? He was referring to Haiti, El Salvador, and nations in Africa. He suggested that the U.S. should bring in more people from countries like Norway.

Three days later, on January 14, 2018, speaking before reporters in West Palm Beach, Florida, he was again asked if he was racist. No, Im not a racist, he responded. I am the least racist person you have ever interviewed.

The America that denied its racism through the Obama years has struggled to deny its racism through the Trump years. From 1977 to 2018, the General Social Survey asked whether Black Americans have worse jobs, income, and housing than white people mainly due to discrimination. There are only two answers to this question. The racist answer is noit presumes that racist discrimination no longer exists and that racial inequities are the result of something being wrong with Black people. The anti-racist answer is yesit presumes that nothing is wrong or right, inferior or superior, about any racial group, so the explanation for racial disparities must be discrimination.

Ibram X. Kendi: The hopefulness and hopelessness of 1619

In 2008, as Obama was headed for the White House, only 34.5 percent of respondents answered yes, a number Ill call the anti-racist rate. This was the second-lowest anti-racist rate of the 41-year polling period. The rate rose to 37.7 percent in 2010, perhaps because the emergence of the Tea Party forced a reckoning for some white Americans, but it fell back down to 34.9 percent in 2012 and 34.6 percent in 2014.

In 2016, as Trump loomed over American politics, the anti-racist rate rose to 42.6 percent. It went up to 46.2 percent in 2018, a double-digit increase from the start of the Obama administration. In large part, shifts in white public opinion explain the jump. The white anti-racist rate was barely 29.8 percent in 2008. It jumped to 37.7 percent in 2016 and to 40.5 percent two years into Trumps presidency.

The deniers of racism, those who blame people of color for racial inequity and injustice, have mostly been white, but not exclusively so. Between 1977 and 2018, the lowest anti-racist rate among Black respondents47.2 percentcame in 2012, the midpoint of Obamas presidency. That rate climbed to 61.1 percent in 2016 and 66 percent in 2018, a nearly 20-point swing from the Obama years.

It has become harder, in the Trump years, to blame Black people for racial inequity and injustice. It has also become harder to tell Black people that the fault lies with them, and to urge them to improve their station by behaving in an upstanding or respectable manner. In the Trump years, the problem is obvious, and it isnt Black peoples behavior.

The United States has often been called a land of contradictions, and to be sure, its failings sit alongside some notable achievementsa New Deal for many Americans in the 1930s, the defeat of fascism abroad in the 1940s. But on racial matters, the U.S. could just as accurately be described as a land in denial. It has been a massacring nation that said it cherished life, a slaveholding nation that claimed it valued liberty, a hierarchal nation that declared it valued equality, a disenfranchising nation that branded itself a democracy, a segregated nation that styled itself separate but equal, an excluding nation that boasted of opportunity for all. A nation is what it does, not what it originally claimed it would be. Often, a nation is precisely what it denies itself to be.

There was a grand moment, however, when a large swath of Americans walked away from a history of racial denial. In the 1850s, slaveholders expanded their reach into the North. Their slave-catchers, backed by federal power, were superseding state and local law to capture runaways (and free Blacks) who had escaped across the Mason-Dixon Line. Formerly enslaved people such as Frederick Douglass and Sojourner Truth, as well as journalists such as William Lloyd Garrison, stood in pulpits across the North and West describing the brutality and inhumanity of slavery. Meanwhile, slaveholders fought to expand their power out westwhere white people who did not want to compete with enslaved Black labor were calling for free soil. Beginning in 1854, slaveholders went to war with free-soilers (and abolitionists like John Brown) in Kansas over whether the stateand the United Stateswould be free or slave. The Supreme Courts Dred Scott decision, in 1857, implied that Black people and northern states had no rights that slaveholders were bound to respect.

From the October 2018 issue: Ibram X. Kendi on a house still divided

Slaveholders seemed intent on spreading their plantations from sea to shining sea. As a result, more and more white Americans became antislavery, whether out of concern for the enslaved or fear of the encroaching slave power. Black Americans, meanwhile, fled the country for Canada and Liberiaor stayed and pressed the cause of radical abolitionism. A critical mass of Americans rejected the Souths claim that enslavement was good and came to recognize the peculiar institution as altogether bad.

The slaveholders attempts to perpetuate their system backfired; in the years before the Civil War, the inhumanity and cruelty of enslavement became too blatant for northerners to ignore or deny. Similarly, Trumps racismand that of his allies and enablershas been too blatant for Americans to ignore or deny. And just as the 1850s paved the way for the revolution against slavery, Trumps presidency has paved the way for a revolution against racism.

On July 16, 2019, the House bitterly debated the resolution to rebuke Trump for his racist tweets against the four congresswomen of color. The four were members of the most diverse class of Democrats in American history, which had retaken the House in a midterm repudiation of the president.

Every single member of this institution, Democratic and Republican, should join us in condemning the presidents racist tweets, Speaker Pelosi said from the House floor. Republicans sounded off in protest. Pelosi turned to them, voice rising, and added: To do anything less would be a shocking rejection of our values and a shameful abdication of our oath of office to protect the American people.

Republicans claimed that Pelosi had violated a House rule by characterizing an action as racist. They moved to have the word struck from the Congressional Record.

The motion to strike racist from the record failed along party lines. I know racism when I see it, I know racism when I feel it, and at the highest level of government, theres no room for racism, Representative John Lewis, the civil-rights icon, said during the debate.

From the October 2017 issue: Ta-Nehisi Coates on Donald Trump, the first white president

One after another, Republicans rose to defend their president. What has really happened here is that the president and his supporters have been forced to endure months of allegations of racism, said Representative Dan Meuser of Pennsylvania. This ridiculous slander does a disservice to our nation.

In the end, only four Republicans and the Houses lone independent voted with all the Democrats to condemn the president of the United States. That means 187 House Republicans, or 98 percent of the caucus, denied that telling four congresswomen of color to go back to their countries was racist. They believed, as Senate Majority Leader Mitch McConnell said, that the presidents not a racist.

To call out the presidents racism would have been to call out their own racism. McConnell had been quietly killing anti-racist bills that had come out of the House since January 2019, starting with the new Houses first bill, which aimed to protect Americans against voter suppression.

The day after being rebuked by House Democrats, Trump held the first rally of his reelection campaign. He spent a large portion of his speech in Greenville, North Carolina, railing against the four congresswomen. As he was pummeling Omar with a round of attacks, the crowd started chanting, Send her back! Send her back! Send her back!

Trump stopped speaking. He made no effort to stop the chant as it grew louder. He basked in the racial slur for 13 seconds.

Send her back! Send her back! Send her back!

On Thursday, Republicans were quick to denounce the chant. Theres no place for that kind of talk, Tom Emmer of Minnesota said to reporters. But, he added, theres not a racist bone in the presidents body.

Trump disavowed the Send her back chant, but by Friday he had disavowed his disavowal, calling the chanters incredible patriots and denying their racism along with his own. Many Americans saw through these patently false claims, however. By the end of July, for the first time, a majority of voters said the president of the United States was, in fact, a racist.

I thought I appreciated the power of denial from studying the history of racist ideas. But I learned to understand it in a personal way during the first year of Trumps presidency. In 2017, I fell ill; I felt as sick as Id ever been. But I told myself the hourly trips to the bathroom were nothing. The blood wasnt serious. I ignored the symptoms for months.

I waited until the pain was unbearable before I admitted that I had a problem. And even then, I wasnt able to acknowledge it on my own. My partner saved my life.

Sadiqa saw the totality of my symptoms during a weeklong vacation over New Years. It was the first time in months that we were together all day, every day. As soon as we returned home, in January 2018, she dragged me to the doctor.

I acquiesced to the appointment, but I still wouldnt permit the thought that my condition was serious. I did not have any of the commonly known risk factors for the worst possibilitycolon cancer. I was 35, and I exercised regularly, didnt smoke, rarely drank, and had no family history. I was a vegan, for goodness sake.

I realize now that I was engaged in a powerful bout of denial. Americans, too, can easily summon a litany of reasons their country is not racist: Look at the enlightened principles upon which the nation was founded. Look at the progress the country has made. Look at the election of Barack Obama. Look at the dark faces in high places. Look at the diversity of the 2020 Democratic field.

Even after the doctor found the tumor, my denial persisted. Once I accepted that I had cancer, I was convinced that it had to be Stage 1, for all the reasons I had been convinced that I did not have cancer at all. A routine surgery was in order, and then all would be good.

I fear that this is how many Americans are thinking right now: Routine surgerythe defeat of Donald Trump at the pollswill heal the American body. No need to look deeper, at police departments, at schools, at housing. Are Americans now acknowledging racism, but telling themselves the problem is contained? Are they telling themselves that it is a big problem, but it cant have spread to almost every part of the body politic? Will this become the new form of American denial?

False hope was my new normal, until it wasnt. When they scanned my body, doctors found that the cancer had spread. I had Stage 4 colon cancer. I had two choices: denial and death, or recognition and life. America now has two choices.

Trumps denials of his racism will never stop. He will continue to claim that he loves people of color, the very people his policies harm. He will continue to call himself not racist, and turn the descriptive term racist back on anyone who has the temerity to call out his own prejudice. Trump clearly hopes that racist ideaspaired with policies designed to suppress the votewill lead to his reelection. But now that Trump has pushed a critical mass of Americans to a point where they can no longer explain away the nations sins, the question is what those Americans will do about it.

One path forward leads to a mere restoration. Barack Obamas vice president unseats Trump, removing the bad apple from the barrel. With Trump dispatched, the nation believes it is again headed in the right direction. On this path, Americans consider racism to be a significant problem. But they deny the true gravity of the problem and the need for drastic action. On this path, monuments to racism are dismantled, but Americans shrink from the awesome task of reshaping the country with anti-racist policies. With Trump gone, Americans decide they dont need to be actively anti-racist anymore.

Or Americans can realize that they are at a point of no return. No returning to the bad old habit of denial. No returning to cynicism. No returning to normalthe normal in which racist policies, defended by racist ideas, lead to racial inequities.

On this path, Trumps denialism has permanently changed the way Americans view themselves. The Trump effect is real, and lasting. The reckoning we have witnessed this spring and summer at public demonstrations transforms into a reckoning in legislatures, C-suites, university-admissions offices.

On this path, the American people demand equitable results, not speeches that make them feel good about themselves and their country. The American people give policy makers an ultimatum: Use your power to radically reduce inequity and injustice, or be voted out.

The abolition of slavery seemed as impossible in the 1850s as equality seems today. But just as the abolitionists of the 1850s demanded the immediate eradication of slavery, immediate equality must be the demand today. Abolish police violence. Abolish mass incarceration. Abolish the racial wealth gap and the gap in school funding. Abolish barriers to citizenship. Abolish voter suppression. Abolish health disparities. Not in 20 years. Not in 10 years. Now.

This article appears in the September 2020 print edition with the headline The End of Denial.

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Is This the Beginning of the End of American Racism? - The Atlantic

Trump’s dream of a ‘V’ recovery is hanging in the balance of stimulus talks – CNBC

As the White House has continued to push a narrative of a sharp recovery after a history-making recession, the economic data in large part has not been cooperating.

Jobs numbers of late are showing progress but pointing to at best a gradual recovery. The sharp uptick in coronavirus cases appears to be have ebbed but not by enough to generate confidence to get activities anywhere close to normal again.

And perhaps most importantly, a persistent inability of Congress and the White House to agree on more rescue funding threatens to push those still reeling from virus-related impacts further down the ladder.

"Dreams of a V-shaped recovery are long gone," Beth Ann Bovino, U.S. chief economist at S&P Global, said in a note. "The economic cycle feels more like we are riding a wave fueled by COVID-19 with only quarantines, federal stimulus, and advances from the medical community keeping our personal health and economic recovery afloat."

Bovino estimated a 30%-35% chance of a "wipeout" that could see "this fragile recovery falling back into recession."

That runs counter to the message from President Donald Trump's economic team.

National Economic Council Director Larry Kudlow has touted the potential of a V-shaped recovery no fewer than four times over the past month, either on CNBC or elsewhere. As recently as last week, he told CNN the "V-shaped recovery is in place."

Economists generally do see a sharp snapback in activity for the third quarter after Q2's stunning 32.9% drop in GDP as measured if the current pace kept up for four quarters.

Still, the ability to keep up a gain that could exceed 20% for the July through September period is being called into question.

"With virus fears on the rise, jobs being lost and incomes squeezed, the second phase of the recovery will be more challenging," wrote James Knightley, chief international economist at ING. "In the absence of a timely and substantial fiscal package we should be braced for the threat of weaker employment and spending numbers, which will provide a major test for financial market optimism on the 'V' shaped recovery."

To be sure, some of the high-frequency data has been looking better.

Jefferies tracks a variety of these markers, such as retail foot traffic, public transportation use and employee hours at small businesses, and found that activity has resumed to 60.5% of the normal pace as measured by 2019 data points, which is the highest level of the pandemic recovery.

Markets also continue to look through the present circumstances and are pricing in a return to strength in the U.S. economy.

"The resurgence in COVID-19 infections and the upturn in unemployment claims raises the question of our call for a V-shaped economic recovery. While the deterioration in progress against the pandemic is saddening, we remain convinced the recovery will not be materially altered," wrote Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.

"We never thought the V-shaped recovery would be characterized by straight lines and a lack of hiccups given the vast unknowns and forecasting complexity surrounding the virus. Rather, our outlook is based simply on the realities of math and the direction of travel," Shalett said.

Federal Reserve Chairman Jerome Powell last week said the recovery is largely dependent on the virus.

However, economists also think that the political calculus and how that translates into more rescue funding also will be critical.

"Given our crazy politics, which are particularly crazy given the election, there is a nonzero probability they fall short," Mark Zandi, chief economist at Moody's Analytics, said regarding the relief negotiations. "Depending on how short will determine whether the economy will gain some traction or slide into a depression."

Link:
Trump's dream of a 'V' recovery is hanging in the balance of stimulus talks - CNBC

Donald Trump’s Businesses Did Okay in 2019. But 2020 Might Be Awful for His Personal Wealth. – Mother Jones

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Before COVID-19 hit, Donald Trumps business empire was continuing to earn hundreds of millions of dollars. But the presidents recently filed personal financial disclosures show that much of that came from hotels and resorts, two of the industries hardest hit by the pandemic. We wont know the specifics of how COVID-19 has diminished Trumps wealth until next year (and even then, only if he is reelected and has to file another disclosure), but based on last years report, it could get quite ugly for the presidentright before he has hundreds of millions of loans due to private lenders.

Trump annually files a personal financial disclosure form that details the income he earned, the assets he owns, and the debt he owes. It is not as detailed as his tax returns, and it crucially leaves out key information for assessing the presidents financial statusfor example, how much money he spends. According to the most recent copies of the forms, filed Friday night, Trump earned at least $446 million in the 2019 calendar year through his businesses and investmentsa slight uptick from the previous year. But its not clear how much of that the president kept, and even when numbers appeared to be good for individual businesses in the presidents portfolio, all may not be as well in reality.

For instance, according to Trumps disclosure, his Turnberry golf resort in Scotland earned $25.6 million in revenue in 2019, up $5.2 million from 2018. But those figures dont include how much it costs to run the golf courseand it costs a lot. We know from corporate filings in the United Kingdom that in 2018, the golf course actually lost $13.1 millionfar more than even the 2019 increase in revenue. Unless Trump dramatically cut costs at Turnberry (well know later this fall when the British corporate filings are due), it seems unlikely the course was profitable.

At Trumps Mar-a-Lago resort, which he touts as the Winter White House, revenues slid by $3.7 million to $21.4 million for the year. No information is available on how much Trump spends to operate Mar-a-Lago, but its not a good sign for one of his marquee properties. Down the road at the Doral golf course he ownswhich he tried to steer an international summit to last fallrevenues climbed $2.4 million from 2018 to 2019, but profitability at the resort has slipped since Trump was elected.

Trumps other favorite vacation getaway, his golf club in Bedminster, New Jersey, also had revenues rise by about $2.5 million last year, but across many of his other golf courses, revenues seemed to just inch up, even as the economy as a whole was roaring. Trumps Jupiter golf course, in Palm Beach, Florida, where he frequently golfs while visiting Mar-a-Lago, saw an increase in revenues of just about $429,000.

One of the most prominent properties the president owns is a luxury hotel in downtown Washington, DC, which he opened shortly before Election Day in 2016 and quickly became a hangout for administration members, lobbyists, and foreign delegations hoping to make an impression on the president. Trump rents the building from the federal government and pays rent, partially based on how much profit he makesand has yet to pay above the basic amount, suggesting that even as its revenues inched up to $40.5 million (a $150,000 increase from 2018), the property is still not making much money for the president when all its expenses are added up. The Trump family announced they were planning to sell the property last fall, but the sale seems to have been put on hold.

To the degree that the Trump Organization appears to have been financially healthy in 2019, much of the business is built on Trumps resort and hotel business. Besides his golf clubs and hotels he owns, Trump manages hotels for others around the world. All told, revenues from resorts, hotels, or management fees accounted for $352 million, about 78 percent of all of Trumps revenues. The bad news, for Trump, is that in 2020, just weeks after the period covered in this financial disclosure, the COVID-19 pandemic steamrolled across the global economy, with the hotel and resort industries hit particularly hard. One industry group estimates American hotels have lost $46 billion in revenue since the pandemic started.

At one point, nearly all of Trumps resorts were closed, and he was forced to lay off as many as 1,500 employees. His Scottish golf courses rely heavily on wealthy American golfers, but with international travel out of the United States almost completely curtailedthe UK has maintained a two-week mandatory quarantine for travelers from the United Statesany progress reported by Trumps businesses in 2019 has likely been completely erased in 2020.

In that respect, the Trump Organization is no different than almost every other business around the world, but the presidentwho has retained full ownership of all of the properties, refusing to divest upon taking officehas some unique challenges. For one, he continues to owe a lot of money. The 2019 personal financial disclosure shows no substantive change in his listed debtshe still owes hundreds of millions to lenders on mortgages for some of his favorite properties. While Trumps overall level of debt is not unusually hightheNew York Times estimated his assets are worth about $1.35 billion compared to debt in the neighborhood of at least $470 millionseveral of his largest debts are coming due in the next few years, possibly during a second presidential term. Among others, Trump will need to repay Deutsche Bank about $125 million for mortgages on the Doral resort, and $170 million on the Washington, DC, hotel. If Trump doesnt have the cash to pay these debts, he could try to refinance the loansbut banks will look toward his recent revenues to determine his creditworthiness, numbers that will probably not be pretty after the damage from the pandemic is totaled up.

Read Trumps full personal financial disclosure below:

Read more here:
Donald Trump's Businesses Did Okay in 2019. But 2020 Might Be Awful for His Personal Wealth. - Mother Jones

President Donald Trump Tweetstorm The Saturday Edition – Deadline

President Donald Trumps early Saturday tweetstorm took an oddly aggressive position, as the nations cities continued to erupt in protest over the death of Minneapolis man George Floyd earlier this week while in police custody.

Late on Friday, Trump was still trying to deal with the fallout of his Thursday tweet that looting leads to shooting, which sparked more outrage and escalated passions. Trump tried to walk back its impact on Friday, saying that It was spoken as a fact, not as a statement. Its very simple, nobody should have any problem with this other than the haters, and those looking to cause trouble on social media. Honor the memory of George Floyd!

However, protests outside the White House on Friday night seemed to indicate that people were not buying that explanation. Trump praised the Secret Service for its handling of the protests, and alluded to the awful fate awaiting any protester who made it past the White House barriers, citing vicious dogs, among other defenses.

Related StoryJoe Biden Asks "A Nation Furious At Injustice" To Restrain From Violence In George Floyd Death Protests; Donald Trump Silent As Curfews Spread Across America

He also called out Washington, DC Mayor Muriel Bowser for not assisting the White House in quelling the protests, which he blamed today on ANTIFA and the Radical Left.

Well post more communications as they roll in. The tweetstorm so far:

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President Donald Trump Tweetstorm The Saturday Edition - Deadline

Is Donald Trump’s love-hate relationship with Twitter on the rocks? – The Guardian

It has been one of the greatest love affairs in American politics.

Since joining Twitter more than a decade ago, Donald Trump has delivered 52,000 tweets or retweets and accumulated 80 million followers. He uses the platform to threaten war, hire and fire staff, goad perceived foes and stoke partisan divisions. Twitter, which did not exist 15 years ago, has become one of the most famous companies in the world, the new first draft of presidential history.

But now the relationship is on the rocks.

For the first time, Twitter this week added a factchecking tag to two of Trumps tweets when he made unsubstantiated claims of fraud in mail-in voting. The president struck back on Thursday with an executive order threatening social media companies with new free speech regulations.

Asked if he had considered deleting his account, Trump replied: If we had a fair press in this country, I would do that in a heartbeat. Theres nothing Id rather do than get rid of my whole Twitter account.

A day later, in another first, Twitter hid a tweet by Trump behind a warning accusing him of breaking its rules by glorifying violence in a message that said looters at protests in Minneapolis would be shot. The president lashed out again in naturally a tweet, complaining: Twitter is doing nothing about all of the lies & propaganda being put out by China or the Radical Left Democrat Party. They have targeted Republicans, Conservatives & the President of the United States.

Facebook did not remove Trumps same post from its site with its chief executive, Mark Zuckerberg, putting clear daylight between his approach, which exempts politicians from a third-party factchecking program, and that of his Twitter counterpart, Jack Dorsey. As for the president, whose election owed much to social media, he now appears to be biting the hand that feeds him.

I think the last thing Trump wants is to shut down Facebook, YouTube and Twitter, said Roger McNamee, author of Zucked: Waking Up to the Facebook Catastrophe. Hes completely dependent on them and, by the way, they on him. The symbiosis is complete.

Now, I think what Twitter did today relative to the looters and shooters tweet is actually very brave. Its also incredibly obvious and something they shouldve done years ago and something Facebook should do, because if you look at the public safety aspect of the terms of service, that tweet is an obvious violation and, coming from the president, it has enormous risk of causing public safety harm.

McNamee, a co-founder of the private equity firm Elevation Partners and an early investor in Facebook, Google and Amazon, added: The fact that Facebook left it up speaks volumes about the different approaches of the two companies because how big do you think Twitter is without Trump? Is it half its current size? Is it less than that? This is a very brave thing for them to do.

Trumps use of Twitter offers a real-time window on his consciousness at all hours of day and night. Some of his posts are vivid reactions to items he has seen on the Fox News network. Others hurl insults at political foes and the media or traffic in incendiary racism. In the past month they have reached a crescendo of abuse, demagoguery and conspiracy theories, including a baseless accusation of murder levelled at a TV host.

Charlie Sykes, a conservative author and broadcaster, said: His Twitter account has been central to his presidency and hes obviously obsessed with it. Thats what makes this so strange: if he were to shut down Twitter, he obviously would deprive himself of a platform. If he succeeds in having the law changed, it would backfire on him because it would then make the social media platforms liable for his lies and his slanders.

Like a much-hyped executive order in April that threatened to ban immigration, but turned out to have numerous exceptions, the bark of Thursdays executive order is likely to be worse than its bite.

It attacks legal protections that shield social media companies from liability for users content, but a change in the law would require an act of Congress. Observers detected a blatant attempt to deflect attention from Trumps handling of the coronavirus pandemic, which this week claimed its 100,000th life in America, and an outbreak of violence after the police killing of a black man in Minneapolis.

Sykes, founder and editor-at-large of the Bulwark website, added: To be attacking a private company because it factchecked him is a disturbing look, even for Trump. The willingness to use the full weight of federal government to go in and punish a private company for factchecking one of his tweets. Twitter did not censor his tweet. It answered his tweet with a factcheck. In other words, it answered speech with more speech, which is the way the first amendment is supposed to work.

Trump expressed anger last year after Facebook banned seven users including the conspiracy theorist Alex Jones, rightwing media stars Milo Yiannopoulos and Laura Loomer, and Nation of Islam leader Louis Farrakhan, notorious for using antisemitic language. He and fellow conservatives have long claimed without evidence that Silicon Valley tech companies are biased against them.

Twitter first announced in early 2018 that it would not block world leaders or remove their controversial tweets, though it subsequently announced that it could apply warning labels and obscure the tweets of world leaders if they used their accounts to threaten or abuse others. Despite this weeks skirmishes, the prospect of the US president being banned still seems remote.

Sykes commented: I think thats unlikely to happen. Banning Trump allows him to play the victim card and say, Look, I am the president and they wont let me speak. So it makes him a martyr. Its probably better to factcheck him. On the other hand, thats going to be extremely difficult. Are they going to factcheck every one of his tweets?

Does that mean theyre going to be under tremendous pressure to factcheck everyone else? Theres a danger for Twitter that he will drag them down the rabbit hole, that he will make their factchecking of him into another massive distraction issue.

Trump has put Twitter front and centre in public life but he is not its most followed personality. To his probable chagrin, number one spot is held by Obama with 118 million, according to Brandwatch, ahead of singers Justin Bieber, Katy Perry, Rihanna, Taylor Swift, footballer Cristiano Ronaldo, singer Lady Gaga and TV personality Ellen DeGeneres. Then comes Trump in ninth place.

Rick Tyler, a political analyst, said: He needs Twitter because its his vehicle to communicate with millions of people who follow him. Im not sure Twitter needs him and, if it does need him, then its a flawed business model because Trump one day wont be with us. Hes an old man and so if Twitters business model depends on Donald Trump, its a very short-lived business model.

The presidents threat to terminate his love-hate relationship with social media rings somewhat hollow. Biographer Michael DAntonio describes him as a troll at heart who used the New York tabloids to similar effect before Twitter and Facebook came along. He said of the current feud: I think its about Twitter being his drug and Jack Dorsey threatening to limit his supply.

It has the effect of a drug on him, so the pleasure that he gets from tweeting and from the response to his tweet probably gives him a rush and I think even the thought of it being constrained is painful, probably physically painful in his own body.

Its also him encountering someone who can hold him responsible and, as he makes clear, hes never responsible for anything, and that is enraging. Its like the kid whos been let loose in a candy store and suddenly an adult says, Well, thats all done now, its time for you to leave, and he doesnt want to leave so hes having a tantrum.

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Is Donald Trump's love-hate relationship with Twitter on the rocks? - The Guardian