Trump’s Ukraine Call Was an Abuse of Power—and This Time, He Can’t Claim Ignorance or Inexperience

One method occasionally used to excuse or explain President Donald Trump’s behavior is an appeal to the president’s lack of formal political experience. After fired FBI chief James Comey testified back in 2017, for example, Paul Ryan, who was at the time the speaker of the House, said Trump is “new at this” and “not steeped in the ongoing protocols.” 

It is no doubt true that Trump’s background and temperament mean that he lacks a detailed understanding of the rules and protocols that govern the office he holds. Many of his actions can be viewed in that light. But in the case of Trump’s July call to Ukrainian President Volodymyr Zelensky, details of which have sparked a formal impeachment inquiry in the House, Trump and his defenders can’t reasonably claim he didn’t know that what he was doing would look bad.   

First, the call, in which the president repeatedly pressed Zelensky to investigate former Vice President Joe Biden and his son Hunter, came after nearly two years of investigation into allegations of Russian collusion during the 2016 campaign. The key question in that investigation was whether Trump worked with a foreign country in order to swing the election. If nothing else, Trump should have learned that attempting to work with a foreign nation in a way that could advance his own political fortunes would be problematic. 

Yet that is exactly what the whistleblower complaint about the Ukraine call says that Trump did. 

The complaint opens by alleging that the still-anonymous author, who worked in the U.S. intelligence community, has received “information from multiple U.S. Government officials that the President of the United States is using the power of his office to solicit interference from a foreign country in the 2020 election.” The report goes on to describe not only how Trump pressured Ukraine to investigate Biden, but how “multiple White House officials with direct knowledge of the call” were concerned that Trump used most of the call to “advance his personal interests.”

The president reportedly requested that Zelensky pursue the Biden investigation with the help of Trump’s personal attorney, Rudy Giuliani. According to the report, the White House officials who heard the call and relayed this information were “deeply disturbed by what transpired” and discussed what to do about the likelihood that “they had witnessed the President abuse his office for personal gain.” 

One might reasonably argue that this is all secondhand and anonymous and that it should be corroborated by those unnamed officials. But it also conforms to much of what we already know from other sources. A reconstruction of the phone call released by the White House this week confirms that Trump pressed the Biden issue during the conversation, following a request by Zelensky for Javelin missiles, implying an understood quid pro quo deal.  

And there should be no doubt that that Giuliani was pursuing a politically motivated investigation in Ukraine, because Giuliani has repeatedly admitted this himself

In May, for example, Giuliani denied that his actions were illegal but said this about his Ukraine dealings: “Somebody could say it’s improper. And this isn’t foreign policy—I’m asking them to do an investigation that they’re doing already and that other people are telling them to stop. And I’m going to give them reasons why they shouldn’t stop it because that information will be very, very helpful to my client, and may turn out to be helpful to my government.” 

This quote establishes that Giuliani—who, again, is not a government official, and thus not conducting ordinary diplomacy—was pursuing an investigation in Ukraine for the president’s personal benefit (“that information will be very, very helpful to my client”). 

It also offers another reason why Trump can’t claim innocence through inexperience: Even then, Giuliani, who was working closely on the Ukraine matter for Trump, understood that what he was doing could be viewed as improper. If the president’s lawyer and pointman on a project knows it’s shady, the president should too. 

If the whistleblower’s report is accurate, there is good reason to believe that loyalists within the Trump White House also understood that Trump’s behavior on the July call was improper, because they tried to shield it from scrutiny.

According to the report, White House officials were “‘directed’ by White House lawyers to remove the electronic transcript from the computer system in which such transcripts are typically stored” for sharing and other use within the administration. Instead, the records were to be stored in a more secretive and compartmentalized system designed for classified information. One White House official, the report says, described this as an “abuse” of the more secretive system, because the Ukraine call records did not belong there.  

The clear implication is that the call records were understood to be damaging, and thus were hidden from scrutiny. (Trump also personally ordered the delay of nearly $400 million in aid to Ukraine in advance of the call, possibly in violation of the constitutional separation of powers, and refused to provide an explanation.) 

Essentially, the report describes a cover-up. And you don’t cover up records of activity unless you understand that activity was wrong. 

The whistleblower’s account remains anonymous and uncorroborated. We need more firsthand, on-the-record information. But if the document is accurate, it strongly suggests that Trump knew that what he was doing was wrong and didn’t want others to find out. 

Finally, even if ignorance ends up being part of Trump’s explanation, it’s damning in a different way. An ignorance defense at this juncture would amount to an admission that the best case for Trump is that after more than two years as president, he still has no idea what he’s doing. 

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Trump’s Ukraine Call Was an Abuse of Power—and This Time, He Can’t Claim Ignorance or Inexperience

One method occasionally used to excuse or explain President Donald Trump’s behavior is an appeal to the president’s lack of formal political experience. After fired FBI chief James Comey testified back in 2017, for example, Paul Ryan, who was at the time the speaker of the House, said Trump is “new at this” and “not steeped in the ongoing protocols.” 

It is no doubt true that Trump’s background and temperament mean that he lacks a detailed understanding of the rules and protocols that govern the office he holds. Many of his actions can be viewed in that light. But in the case of Trump’s July call to Ukrainian President Volodymyr Zelensky, details of which have sparked a formal impeachment inquiry in the House, Trump and his defenders can’t reasonably claim he didn’t know that what he was doing would look bad.   

First, the call, in which the president repeatedly pressed Zelensky to investigate former Vice President Joe Biden and his son Hunter, came after nearly two years of investigation into allegations of Russian collusion during the 2016 campaign. The key question in that investigation was whether Trump worked with a foreign country in order to swing the election. If nothing else, Trump should have learned that attempting to work with a foreign nation in a way that could advance his own political fortunes would be problematic. 

Yet that is exactly what the whistleblower complaint about the Ukraine call says that Trump did. 

The complaint opens by alleging that the still-anonymous author, who worked in the U.S. intelligence community, has received “information from multiple U.S. Government officials that the President of the United States is using the power of his office to solicit interference from a foreign country in the 2020 election.” The report goes on to describe not only how Trump pressured Ukraine to investigate Biden, but how “multiple White House officials with direct knowledge of the call” were concerned that Trump used most of the call to “advance his personal interests.”

The president reportedly requested that Zelensky pursue the Biden investigation with the help of Trump’s personal attorney, Rudy Giuliani. According to the report, the White House officials who heard the call and relayed this information were “deeply disturbed by what transpired” and discussed what to do about the likelihood that “they had witnessed the President abuse his office for personal gain.” 

One might reasonably argue that this is all secondhand and anonymous and that it should be corroborated by those unnamed officials. But it also conforms to much of what we already know from other sources. A reconstruction of the phone call released by the White House this week confirms that Trump pressed the Biden issue during the conversation, following a request by Zelensky for Javelin missiles, implying an understood quid pro quo deal.  

And there should be no doubt that that Giuliani was pursuing a politically motivated investigation in Ukraine, because Giuliani has repeatedly admitted this himself

In May, for example, Giuliani denied that his actions were illegal but said this about his Ukraine dealings: “Somebody could say it’s improper. And this isn’t foreign policy—I’m asking them to do an investigation that they’re doing already and that other people are telling them to stop. And I’m going to give them reasons why they shouldn’t stop it because that information will be very, very helpful to my client, and may turn out to be helpful to my government.” 

This quote establishes that Giuliani—who, again, is not a government official, and thus not conducting ordinary diplomacy—was pursuing an investigation in Ukraine for the president’s personal benefit (“that information will be very, very helpful to my client”). 

It also offers another reason why Trump can’t claim innocence through inexperience: Even then, Giuliani, who was working closely on the Ukraine matter for Trump, understood that what he was doing could be viewed as improper. If the president’s lawyer and pointman on a project knows it’s shady, the president should too. 

If the whistleblower’s report is accurate, there is good reason to believe that loyalists within the Trump White House also understood that Trump’s behavior on the July call was improper, because they tried to shield it from scrutiny.

According to the report, White House officials were “‘directed’ by White House lawyers to remove the electronic transcript from the computer system in which such transcripts are typically stored” for sharing and other use within the administration. Instead, the records were to be stored in a more secretive and compartmentalized system designed for classified information. One White House official, the report says, described this as an “abuse” of the more secretive system, because the Ukraine call records did not belong there.  

The clear implication is that the call records were understood to be damaging, and thus were hidden from scrutiny. (Trump also personally ordered the delay of nearly $400 million in aid to Ukraine in advance of the call, possibly in violation of the constitutional separation of powers, and refused to provide an explanation.) 

Essentially, the report describes a cover-up. And you don’t cover up records of activity unless you understand that activity was wrong. 

The whistleblower’s account remains anonymous and uncorroborated. We need more firsthand, on-the-record information. But if the document is accurate, it strongly suggests that Trump knew that what he was doing was wrong and didn’t want others to find out. 

Finally, even if ignorance ends up being part of Trump’s explanation, it’s damning in a different way. An ignorance defense at this juncture would amount to an admission that the best case for Trump is that after more than two years as president, he still has no idea what he’s doing. 

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11 Cases Everyone Should Know from the Warren Court

Here is another preview of the 11-hour video library from our new book, An Introduction to Constitutional Law: 100 Supreme Court Cases Everyone Should KnowThis post will focus on cases from the Warren Court.

Brown v. Board of Education (1954)

Bolling v. Sharpe (1954)

Williamson v. Lee Optical (1955)

 

Cooper v. Aaron (1958)

Sherbert v. Verner (1963)

New York Times v. Sullivan (1964)

Heart of Atlanta Motel v. U.S. (1964)

Katzenbach v. McClung (1964)

Griswold v. Connecticut (1965)

Loving v. Virginia (1967)

U.S. v. O’Brien (1968)

You can also download the E-Book or stream the videos.

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John Yoo Warns That Impeachment Would Undermine Presidential Power. That’s the Point.

The Berkeley law professor John Yoo warns that impeaching Donald Trump over his alleged solicitation of re-election assistance from Ukrainian President Volodymyr Zelenskiy could undermine presidential powers to conduct foreign policy and protect national security. Given Yoo’s expansive understanding of those powers, that prospect may count as an argument in favor of impeachment.

“The Constitution vests the president with the authority to conduct foreign policy and the responsibility to protect the nation’s security,” Yoo writes in a New York Times op-ed piece. “A president, even one who is possibly engaging in wrongdoing, must have confidence in the confidentiality of his communications or he will be unable to perform his constitutional duties and our international relations will fall victim to government by committee.”

Yoo worries that “if Congress could regulate presidential discussions with foreign leaders, presidents and foreign leaders would speak less candidly or stop making the calls altogether.” If that happened, he says, “United States foreign policy—approved by the American people at each election—would be crippled.”

But is Congress trying to “regulate presidential discussions with foreign leaders,” or is it investigating a possible abuse of presidential power, including an illegal usurpation of the legislative branch’s spending authority? If Trump put a hold on congressionally approved military aid with the intent of pressuring the Ukrainian government to dig up politically useful dirt on former Vice President Joe Biden, George Mason law professor Ilya Somin notes, he violated the separation of powers.

It would not be the first time. Yoo himself has criticized Trump for overstepping his constitutional authority by trying to build a border wall that Congress has refused to fund, by suggesting he might pay for the wall by imposing tariffs on Mexico, and by threatening to unilaterally withdraw from the North American Free Trade Agreement.

“The framers believed that ‘high crimes and misdemeanors’ included a president who used his foreign affairs powers for personal or political gain,” Yoo concedes. To investigate whether Trump has done that, he says, “A special congressional committee could review classified information in secret and bring United States and foreign officials to testify under oath. The House could meet any stonewalling by cutting intelligence, military and diplomatic funding.”

And then what? If Congress confirms that Trump has in fact “used his foreign affairs powers for personal or political gain,” that would be an impeachable offense, according to Yoo. Yet he resists the logical conclusion that an impeachable offense should result in impeachment.

“The founders believed that impeachment should come only as a last resort,” Yoo says. But the quote he uses to back up that claim suggests nothing of the sort: “At the end of four years, the president may be turned out of his office, Gov. Edmund Randolph said in 1788 as Virginia weighed ratifying the Constitution. ‘If he misbehaves he may be impeached, and in this case he will never be re-elected.'” That hardly means Congress has to wait for the next election instead of trying to remove a president who has committed an impeachable offense.

“Democratic presidential candidates are calling for impeachment,” Yoo writes. “But they should realize that they themselves remain the framers’ primary remedy for presidential abuses of power. The Constitution trusts the American people, acting through the ballot box, to render judgment on President Trump. Democrats should trust the framers’ faith in the American people, too.”

While there may be sound political reasons to choose the course that Yoo recommends, there are also sound constitutional reasons not to simply let voters decide Trump’s fate. Even if an impeachment vote does not result in conviction by the Republican-controlled Senate (as seems pretty certain at this point), it would make a statement about limits on presidential power that even Yoo acknowledges. If the discovery of impeachable offenses is not a good reason to impeach a president, what is the point of the impeachment power?

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‘He Had Help’: Former CIA, NSC Official Questions ‘Too Convenient’ And ‘Too Perfect’ Whistleblower Report

‘He Had Help’: Former CIA, NSC Official Questions ‘Too Convenient’ And ‘Too Perfect’ Whistleblower Report

In light of Thursday’s public release of a ‘whistleblower’ complaint, who was “not a witness to most of hte events described” in their allegation that President Trump abused his office to request that Ukraine investigate former Vice President Joe Biden’s dealings in the country, former CIA analyst and National Security Council (NSC) official Fred Fleitz has provided his take on the whole thing via Twitter

Notably, Fleitz – CEO of the Center for Security Policy – points out that “The way this complaint was written suggested the author had a lot of help,” adding “I know from my work on the House Intel Commitee staff that many whistleblowers go directly to the intel oversight committees. Did this whistleblower first meet with House Intel committee members?” 

Fleitz then writes that “that this whistleblower complaint is too convenient and too perfect to come from a typical whistleblower,” adding “Were other IC officers involved? Where outside groups opposed to the president involved?

Read the thread below (emphasis ours): 

1/ As a former CIA analyst and former NSC official who edited transcripts of POTUS phone calls with foreign leaders, here are my thoughts on the whistleblower complaint which was just released. . . intelligence.house.gov/uploadedfiles/…

2/ This is not an intelligence matter. It is a policy matter and a complaint about differences over policy. Presidential phone calls are not an intelligence concern. The fact that IC officers transcribe these calls does not give the IC IG jusrisdiction over these calls.

3/ It appears that rules restricting access and knowledge of these sensitive calls was breached. This official was not on this call, not on the approved dissem list and should not have been briefed on the call.

.3/ The way this complaint was written suggested the author had a lot of help. I know from my work on the House Intel Commitee staff that many whistleblowers go directly to the intel oversight committees. Did this whistleblower first meet with House Intel committee members?

.4/ It is therefore important that Congress find out where this complaint came from. What did House and Senate intel committee dem members and staff know about it and when? Did they help orchestrate this complaint?

5/ My view is that this whistleblower complaint is too convenient and too perfect to come from a typical whistleblower. Were other IC officers involved? Where outside groups opposed to the president involved?

6/ This complaint will further damage IC relations with the White House for many years to come because IC officers appear to be politicizing presidential phone calls with foreign officials and their access to the president and his activities in the White House.

7/ Worst of all, this IC officer — and probably others — have blatantly crossed the line into policy. This violates a core responsibility of IC officers is to inform, but not make policy.

8/ This is such a grevious violation of trust between the IC and the White House that it would not surprise me if IC officers are barred from all access to POTUS phone calls with foreign officials.


Tyler Durden

Thu, 09/26/2019 – 11:56

via ZeroHedge News https://ift.tt/2mZy3xk Tyler Durden

11 Cases Everyone Should Know from the Warren Court

Here is another preview of the 11-hour video library from our new book, An Introduction to Constitutional Law: 100 Supreme Court Cases Everyone Should KnowThis post will focus on cases from the Warren Court.

Brown v. Board of Education (1954)

Bolling v. Sharpe (1954)

Williamson v. Lee Optical (1955)

 

Cooper v. Aaron (1958)

Sherbert v. Verner (1963)

New York Times v. Sullivan (1964)

Heart of Atlanta Motel v. U.S. (1964)

Katzenbach v. McClung (1964)

Griswold v. Connecticut (1965)

Loving v. Virginia (1967)

U.S. v. O’Brien (1968)

You can also download the E-Book or stream the videos.

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via IFTTT

John Yoo Warns That Impeachment Would Undermine Presidential Power. That’s the Point.

The Berkeley law professor John Yoo warns that impeaching Donald Trump over his alleged solicitation of re-election assistance from Ukrainian President Volodymyr Zelenskiy could undermine presidential powers to conduct foreign policy and protect national security. Given Yoo’s expansive understanding of those powers, that prospect may count as an argument in favor of impeachment.

“The Constitution vests the president with the authority to conduct foreign policy and the responsibility to protect the nation’s security,” Yoo writes in a New York Times op-ed piece. “A president, even one who is possibly engaging in wrongdoing, must have confidence in the confidentiality of his communications or he will be unable to perform his constitutional duties and our international relations will fall victim to government by committee.”

Yoo worries that “if Congress could regulate presidential discussions with foreign leaders, presidents and foreign leaders would speak less candidly or stop making the calls altogether.” If that happened, he says, “United States foreign policy—approved by the American people at each election—would be crippled.”

But is Congress trying to “regulate presidential discussions with foreign leaders,” or is it investigating a possible abuse of presidential power, including an illegal usurpation of the legislative branch’s spending authority? If Trump put a hold on congressionally approved military aid with the intent of pressuring the Ukrainian government to dig up politically useful dirt on former Vice President Joe Biden, George Mason law professor Ilya Somin notes, he violated the separation of powers.

It would not be the first time. Yoo himself has criticized Trump for overstepping his constitutional authority by trying to build a border wall that Congress has refused to fund, by suggesting he might pay for the wall by imposing tariffs on Mexico, and by threatening to unilaterally withdraw from the North American Free Trade Agreement.

“The framers believed that ‘high crimes and misdemeanors’ included a president who used his foreign affairs powers for personal or political gain,” Yoo concedes. To investigate whether Trump has done that, he says, “A special congressional committee could review classified information in secret and bring United States and foreign officials to testify under oath. The House could meet any stonewalling by cutting intelligence, military and diplomatic funding.”

And then what? If Congress confirms that Trump has in fact “used his foreign affairs powers for personal or political gain,” that would be an impeachable offense, according to Yoo. Yet he resists the logical conclusion that an impeachable offense should result in impeachment.

“The founders believed that impeachment should come only as a last resort,” Yoo says. But the quote he uses to back up that claim suggests nothing of the sort: “At the end of four years, the president may be turned out of his office, Gov. Edmund Randolph said in 1788 as Virginia weighed ratifying the Constitution. ‘If he misbehaves he may be impeached, and in this case he will never be re-elected.'” That hardly means Congress has to wait for the next election instead of trying to remove a president who has committed an impeachable offense.

“Democratic presidential candidates are calling for impeachment,” Yoo writes. “But they should realize that they themselves remain the framers’ primary remedy for presidential abuses of power. The Constitution trusts the American people, acting through the ballot box, to render judgment on President Trump. Democrats should trust the framers’ faith in the American people, too.”

While there may be sound political reasons to choose the course that Yoo recommends, there are also sound constitutional reasons not to simply let voters decide Trump’s fate. Even if an impeachment vote does not result in conviction by the Republican-controlled Senate (as seems pretty certain at this point), it would make a statement about limits on presidential power that even Yoo acknowledges. If the discovery of impeachable offenses is not a good reason to impeach a president, what is the point of the impeachment power?

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“So Many Risk Factors And Uncertainties:” Global IPO Market Plunges As Volatility Soars 

“So Many Risk Factors And Uncertainties:” Global IPO Market Plunges As Volatility Soars 

New data from Dealogic, first reported by the Financial Times, shows the global initial public offerings (IPO) market is imploding as a synchronized global slowdown gains momentum. 

Nearly 845 companies listed their shares via IPOs globally so far this year, that’s a 25% decline versus the same period in 2018 and the lowest level since 2016. 

“In more than two decades in the IPO market I’ve never seen so many risk factors and uncertainties,” said Martin Steinbach, IPO leader for Europe, the Middle East, India and Africa for EY, the consultant. “These uncertainties create volatility like we saw over the summer period and volatility has a negative correlation with IPO activity.”

Dealogic said Europe was the worst region for IPOs in 2019. Activity plunged by nearly 40% so far this year compared to the same period last year. The US posted a 23% decline. 

As shown in a series of charts below, 2019 IPOs in the US have been a complete bust. Any millennial who bought into the whole CNBC hype of buying Lyft and Uber at IPO day is significantly in the red, and will be in the red for a generation to come. 

Other IPOs, including Levi Strauss and Pinterest, are also underperforming as well.

WeWork co-founder Adam Neumann was removed from management this week. The company, only several months ago, had an estimated $47 billion valuation, then dropped from $20 billion to $10 billion for its IPO in the last several weeks, now has been put on hold. 

The IPO of Aramco, the world’s largest oil company, was put on hold last week after missile and drone attacks damaged one of its facilities in Saudi Arabia. The IPO is now slated for 2020 to 2021 – depending on market conditions and of course crude prices. 

In the Asia-Pacific region, IPO activity so far this year dropped 9%, versus the same time last year.

The window to IPO companies around the world appears to be rapidly closing as a global trade recession is imminent.

We noted earlier this week that a fascinating trend is developing among the ultra-wealthy: the dash for cash ahead of the next market crash


Tyler Durden

Thu, 09/26/2019 – 11:34

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“This Is A Disaster!” Peter Schiff Blasts Government Intereference In Student Debt Market

“This Is A Disaster!” Peter Schiff Blasts Government Intereference In Student Debt Market

Via SchiffGold.com,

During a recent podcast, Peter Schiff talked about the student loan debacle.

In a nutshell, it’s the government’s fault.

Democratic presidential candidates have been talking about the student loan crisis. And it is indeed a crisis. The total of the outstanding student loans in the US has more than doubled since 2009 when it was $675 million. The rate of delinquency on student loan debt pushed up to 9.5% in the first quarter of 2019, even as total student loan debt climbed to $1.49 trillion. Currently Americans owe more than $1.5 trillion in student loan debt. That’s more than their outstanding credit card balances.

Democrats running for president have proposed government solutions, most involving forgiveness of most or all outstanding debt and making college “free.”

The problem with this solution is it will actually make the problem they want to solve worse. Or actually, it will create a bigger problem than the problem that they’re trying to solve. But the most ironic aspect of the whole thing is that the problem was created by government.”

Before the government got involved, college wasn’t all that expensive. It was government policy that made it unaffordable. And not only did it manage to dramatically drive up the cost of a college education, but it also succeeded in destroying the value of that degree.

Before the government tried to solve this ‘problem,’ it really didn’t exist.”

Peter isn’t just spouting rhetoric. Actual studies have shown the influx of government-backed student loan money into the university system is directly linked to the surging cost of a college education.

Peter traces the federal government getting involved in education back to the GI Bill passed in 1944. In the 1960s, the federal government began guaranteeing student loans. Before that, there wasn’t a big market for them.

The only reason that student loans exist is because of the government. Without the government, there were no student loans. I mean, who would loan money to a student? … They have no money; they have no collateral; they have no job. They’re a lousy credit risk. The free market is not going to loan money to students.”

But when the government effectively cosigned student loans, they became one of the least risky loans to make. It’s like loaning money to the federal government.

Obviously, all the banks wanted to make student loans because you couldn’t lose. All you could do was make money because there was an interest rate attached to the student loan. So, the government made a thriving industry of student loans. Without the government, it wouldn’t exist.”

Once colleges realized all of this money was coming their way, they recognized it was a money machine and they started raising tuition.

Because there was now no longer any kind of objection in the market because whatever the price was, the students just borrowed the money because the government was making all the loans available.

Universities became bloated. They built new facilities. They began competing for students and their student loan money. Today we have dorms with granite countertops and Tempurpedic mattresses.

Meanwhile, well-meaning officials pushed the narrative that everybody needs to go to college. This increased the demand for a degree higher. And as economics 101 would predict, the cost continued to skyrocket.

The only thing we succeeded in doing by keeping kids in school to get a college degree is we simply delayed by maybe four, five, or six years, when they enter the workforce. So, those five or six years when they could have been earning money and developing skills on the job, instead they’re developing no skills and they’re racking up a huge debt.”

Peter cites a string of fascinating statistics to drive home his point.

This is a disaster. This entire problem never would have existed. Students wouldn’t have all this debt. College wouldn’t be so expensive but for government interference in the market.”

And now you have the very same people who caused the problem clamoring to solve it. That should go well…


Tyler Durden

Thu, 09/26/2019 – 11:15

via ZeroHedge News https://ift.tt/2llQprZ Tyler Durden

Stocks Stumble As Admin Comments On Renewed Huawei Crackdown

Stocks Stumble As Admin Comments On Renewed Huawei Crackdown

US equity markets have taken another leg lower this morning, erasing all of yesterday’s gains, after US officials confirm that the Trump admin is unlikely to extend temporary waivers to supply Huawei.

Clearly, following Trump’s UN speech, the relationship with China is not getting closer to a deal – no matter how many times Trump drops an algo-trigering headline on a deal being close…

Yuan also dropped on the news…

Source: Bloomberg


Tyler Durden

Thu, 09/26/2019 – 11:08

via ZeroHedge News https://ift.tt/2lRKqf1 Tyler Durden