Daily News Dump – August 5

US Stocks Face Worst Day of the Year

“A dramatic escalation of the trade war between the United States and China sparked a worldwide sell-off in markets on Monday. The Dow closed down 767 points, and the Nasdaq Composite — a proxy for the technology companies that will be most harmed by a trade war — suffered its longest losing streak since November 2016.

The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday. A weaker currency could soften the tariff blow the United States has dealt China.” via CNN

Trade wars are good and easy to win, right?

At its worst, the Dow was down 961 points for the day.

In addition to devaluing the yuan, China announced today that its companies are going to stop purchasing US agricultural products. Then we declared them a currency manipulator.

This all but guarantees that a trade deal isn’t going to happen anytime soon, and doesn’t bode well for either of our economies.

Obama Speaks Out

Obama released a statement on Twitter today that I’m going to copy in its entirety – partially because the world needs to hear it, and partially because I miss having a coherent President.

“Michelle and I grieve with all the families in El Paso and Dayton who endured these latest mass shootings. Even if details are still emerging, there are a few things we already know to be true:

First, no other nation on Earth comes close to experiencing the frequency of mass shootings that we see in the United States. No other developed nation tolerates the levels of gun violence that we do. Every time this happens, we’re told that tougher gun laws won’t stop all murders; that they won’t stop every deranged individual from getting a weapon and shooting innocent people in public places. But the evidence shows that they can stop some killings. They can save some families from heartbreak. We are not helpless here. And until all of us stand up and insist on holding public officials accountable for changing our gun laws, these tragedies will keep happening.

Second, while the motivations behind these shootings may not yet be fully known, there are indications that the El Paso shooting follows a dangerous trend: troubled individuals who embrace racist ideologies and see themselves obligated to act violently to preserve white supremacy. Like the followers of ISIS and other foreign terrorist organizations, these individuals may act alone, but they’ve been radicalized by white nationalist websites that proliferate on the internet. That means that both law enforcement agencies and internet platforms need to come up with better strategies to reduce the influence of these hate groups.

But just as important, all of us have to send a clarion call and behave with the values of tolerance and diversity that should be the hallmark of our democracy. We should soundly reject language coming out of the mouths of any of our leaders that feeds a climate of fear and hatred or normalizes racist sentiments; leaders who demonize those who don’t look like us, or suggest that other people, including immigrants, threaten our way of life, or refer to other people as sub-human, or imply that America belongs to just one certain type of people. Such language isn’t new – it’s been at the root of most human tragedy throughout history, here in America and around the world. It is at the root of slavery and Jim Crow, the Holocaust, the genocide in Rwanda and ethnic cleansing in the Balkans. It has no place in our policies and our public life. And it’s time for the overwhelming majority of Americans of goodwill, of every race and faith and political party, to say as much – clearly and unequivocally.”

Thank you, Mr. President. Some people will be frustrated that Obama didn’t mention Trump by name, but he didn’t have to; I think this was perfect.

Republican State Senator Condemns Party

“A Republican state representative is speaking out against what he believes is his own party’s complicity in “enabling white supremacy,” and says history won’t judge his fellow Republicans kindly.

Nebraska state legislator Rep. John McCollister tweeted Sunday night, “The Republican Party is enabling white supremacy in our country. As a lifelong Republican, it pains me to say this, but it’s the truth.” via CNN

I shared this thread on Twitter last night, but it’s a real shame that none of the folks at the national level can find a way to say this.

Trump Exploring Executive Action on Guns

“President Donald Trump is exploring ways to use regulatory power and executive action to curb gun violence after a pair of deadly shootings over the weekend — a move driven by his aides’ belief that Congress is incapable of coalescing around consensus legislation in a heated 2020 election cycle.

White House officials on Monday said Trump and U.S. Attorney General Bill Barr are “resolved” to take action after the shootings in El Paso, Texas, and Dayton, Ohio. The administration is exploring solutions “that actually make an impact,” as opposed to “things that feel good,” said one Trump aide.” via Politico

This is almost the exact language Trump used after the Stoneman Douglass shooting, “things that work, not what feels good.”

The trouble is, they did exactly nothing in response to any of it. Action was taken to ban bump stocks well after the shooting in Vegas, but nothing substantive has been done since.

While we’re talking Trump and guns, if people (looking at you, media) could quit handing him awards for reading (badly) from a teleprompter, that would be fantastic. I keep seeing headlines like “Trump changes tone on guns,” which would be great if it were true, but it’s not:

He stood at a podium for a few minutes, didn’t even get the name of the city one of the shootings took place in correct, and then essentially said, “golly gee, hope someone can do something about this!” – all AFTER he blamed the media for the shooting, and tried to use the gun control momentum to push his racist immigration platform that caused one of the shootings in the first place. This is a vile, vile man.

Nadler: Judiciary panel could recommend articles of impeachment by late fall

“House Judiciary Committee Chairman Jerry Nadler said Monday that his panel could recommend articles of impeachment by late fall, sketching a rough timeline for potential efforts to remove President Donald Trump just days after a majority of House Democrats signaled their willingness to support an impeachment inquiry.

“If we decide to report articles of impeachment, we could get to that late in the fall, in the latter part of the year,” Nadler said on MSNBC.

Nadler is petitioning a federal judge to get lawmakers access to grand jury evidence collected by former special counsel Robert Mueller, and his committee is preparing to sue former White House counsel Don McGahn to compel his testimony in the committee’s ongoing investigation into potential abuses of power by Trump.

“I think that we will probably get court decisions by the end of October, maybe shortly thereafter. We’ll have hearings in September and October with people we don’t — witnesses who are not dependent on the court proceedings,” Nadler said.” via Politico

That seems like a reasonable timeframe considering all the delay in the courts and the obstruction from the White House. It also puts Trump and the Republicans on their heels as 2020 approaches, which has been Pelosi’s goal all along.

Graham Looking at “Red Flag” Laws

“Sen. Lindsey Graham said Monday he will propose bipartisan legislation to encourage more states to adopt “red flag” laws after a pair of horrific mass shootings.

The South Carolina Republican’s announcement came soon after President Donald Trump also called for such laws, which allow police and family members to request that a court temporarily restrict the access to firearms of people who may pose an imminent threat to themselves or others.

“I spoke with the President this morning about this proposal and he seems very supportive,” Graham said in a statement. “Many of these shootings involved individuals who showed signs of violent behavior that are either ignored or not followed up. State Red Flag laws will provide the tools for law enforcement to do something about many of these situations before it’s too late.” via Politico

At this point, I’m supportive of anything that might make a difference. The mental health aspect of this issue is important, but let’s not ignore what this really is: Republicans doing as little as humanly possible in an attempt to claim victory and not piss of the NRA.

Judge Signals Interest in Removing Mueller Report Redactions

“A federal judge signaled Monday he’s considering removing the Mueller report’s redactions.

During more than two hours of oral arguments in Washington, District Judge Reggie Walton appeared on several occasions to side with attorneys for BuzzFeed and the nonprofit Electronic Privacy Information Center, which are seeking to remove the black bars covering nearly 1,000 items in former special counsel Robert Mueller’s final 448-page final report.

Walton didn’t issue an opinion from the bench on the case, which centers on a pair of consolidated lawsuits filed against the Justice Department under the Freedom of Information Act. But the judge, an appointee of President George W. Bush, sounded increasingly skeptical of the government’s arguments pressing him to leave the redactions untouched.

“That’s what open government is about,” Walton said during one exchange, citing the resolution of a 2008 sex crimes case against financier Jeffrey Epstein as an example of how obfuscating the reasons behind not prosecuting high-profile people generates public distrust in the country’s criminal justice system.” via Politico

North Korea Launches More Missiles

“North Korea fired more projectiles off its east coast on Monday, according to South Korean military officials. 

Monday’s action marks the North Korean regime’s fourth such launch in less than two weeks – a series of provocations that highlight the stalled denuclearization negotiations between President Donald Trump and Kim Jong Un. 

South Korea’s Joint Chiefs of Staff did not immediately identify the projectiles, but said they were fired from South Hwanghae Province, according to a statement carried by Yonhap News Agency. 

The launches come as the U.S. and South Korea prepare to conduct joint military exercises. North Korea sees those planning drills as provocative war games.” via USA Today

They also released two separate statements all but demanding that Trump cancel the US/ROK joint military drills that kick off today. We’ll see if he caves.

In other North Korea news, a confidential UN report released today revealed that North Korea has stolen upwards of $2 billion dollars in their many cyber operations – money that is being funneled directly to their weapons programs.