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Beijing confirms that it has signed a trade agreement with the US The US economy contracted at a 0.5% annual pace from January through March, partly because imports surged as companies and households rushed to buy foreign goods before Trump could impose tariffs on them. ........ In China, factory profits sank more than 9% from a year earlier in May, with automakers suffering a large share of that drop. They fell more than 1% year-on-year in January to May. ....... Trump and other US officials have indicated they expect to reach trade deals with many other countries, including India. .......... "We're going to have deal after deal after deal," Lutnick said.

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The Corporate Democrat’s Biggest Nightmare He’s on the way to becoming mayor of New York City ........ Leave it to the Democratic Party to snatch existential crisis from the jaws of electoral victory. ....... It’s one thing for Trump to call Mamdani “a 100% Communist Lunatic.” That’s to be expected from the vulgarian-in-chief. It’s another for Matt Bennett, co-founder of the centrist Democratic group Third Way, to warn that Mamdani’s “affiliation with the (Democratic Socialists of America) is very dangerous.” ......... Dangerous for whom? Bernie Sanders nearly won the Democratic primary for the 2016 presidential election after announcing he was a democratic socialist — and probably would have won had the Democratic National Committee not torpedoed him. ............ Lawrence Summers, treasury secretary under former Democratic President Barack Obama, says the New York City results make him “profoundly alarmed about the future of the (Democratic Party) and the country.” ........ Well, I’m profoundly alarmed, too — by just this kind of vacuous statement. If polls are to be believed, the current Democratic Party doesn’t have much of a future. Mamdani and other young politicians with the charisma to connect with the people and a willingness to take on corporate America and Wall Street may be the only way forward for the Democrats. ........... Nor has the mainstream media greeted Mamdani’s upset victory with much enthusiasm. The Associated Press writes that “the party’s more pragmatic wing cast the outcome as a serious setback in their quest to broaden Democrats’ appeal.” .........

Pragmatic wing?

....... If it were pragmatic — in the sense of wanting to win elections and fire up the base — Democrats would not have lost the House, Senate, and presidency in 2024. .......... the Post criticizes Mamdani’s proposals for a 2 percent annual wealth tax on the richest 1 percent of New Yorkers and for increasing the state’s corporate tax rate from 7.25 percent to 11.5 percent: “Mamdani’s tax plans would spur a corporate exodus and drive more rich people out of town, undermining the tax base and making existing services harder to maintain.” ......... The reality is that if you invest in your people — in their skills, education, affordable child care, affordable elder care, and the infrastructure needed to link them together — they’ll be more productive, and their higher productivity will attract corporations (and the wealthy). A major way to afford all these things is to raise taxes on corporations and the wealthy. ........ Mamdani is the corporate Democrat’s biggest nightmare — a young, charismatic politician winning over Democratic voters with an optimistic message centering on the cost of living. Putting together a multiethnic and multiracial coalition backed by a sprawling grassroots campaign that brings out enormous numbers of volunteers. Aiming to fund what average people need by taxing corporations and the rich. ............ Instead of wringing their hands over him, Democrats should follow his lead......... The largest force in American politics today is antiestablishment fury at a system rigged by big corporations and the wealthy to make them even richer and more powerful............ Trump is killing the economy, fueling inflation with his tariffs, reducing the U.S. government to rubble, and destroying our relationships with our allies. He’s readying another giant tax cut for the wealthy and big corporations — this one to be financed by cuts in Medicaid, food stamps, and other things average people need, along with trillions more in national debt. .......... If Democrats had had the guts years ago to condemn big money in politics, fight corporate welfare, and unrig a market that’s been rigged in favor of big corporations and the rich, Trump’s absurd bogeymen (the deep state, immigrants, socialists, trans people, diversity-equity-inclusion) wouldn’t have stood a chance. ........... most Americans don’t want a Trump Republican budget that slashes Medicaid, food stamps, and child nutrition in order to make way for a giant tax cut mostly for the wealthy. ......... Most don’t want tariffs that drive up the prices they pay for food, gas, housing, and clothing. Most understand that tariffs are taxes paid by American consumers. Most don’t want a government of, by, and for billionaires. Most believe in democracy and the rule of law and don’t want Trump trampling on the Constitution, acts of Congress, and federal court orders. ......... The nation is in clear and present danger. Democrats must stand up for American ideals at a time when the Trump regime is riding roughshod over them.

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Friday, June 27, 2025

27: Iran

Pragmatic wing?

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