US Politics #2 - January, 2024

US Politics - January, 2024: Determining the Direction of our Country

Ron DeSantis, merely opposing something while engaging in similar political actions may not be the most effective strategy. Is this the reason for his resignation?

The "Never Back Down" PAC, led by former Trump-era Department of Homeland Security senior official Ken Cuccinelli, is expected to be the main outside group backing a potential 2024 DeSantis run, according to two people familiar with the governor's planning. 

During the 2016 Republican National Convention, Cuccinelli led an effort to prevent Donald Trump from receiving the Republican presidential nomination.[102] He was a staunch Ted Cruz supporter during the 2016 Republican primaries.[112]

So, according to Nikki Haley, it's about a woman and a man playing the gender card versus the race card. Does it truly make a difference? Well, she aligns herself with the staunch "Never Trumpers" and war hawks, evident in her strong rhetoric against Russia and other non-US allies. Does this mean their financial support will influence her decisions? While forming alliances with progressives may secure votes and funding, what about integrity? Is she compromising her political stance to win, making her a potential sellout?

Stanley Freeman Druckenmiller (born June 14, 1953)[1] is an American billionaire investor, philanthropist and former hedge fund manager. He is the former chairman and president of Duquesne Capital, which he founded in 1981. He closed the fund in August 2010.[2] At the time of closing, Duquesne Capital had over $12 billion in assets. From 1988 to 2000, he managed money for George Soros as the lead portfolio manager for Quantum Fund.[3] He is reported to have made $260 million in 2008.[4]

For former President Trump not to be nominated would require concerted efforts in legal maneuvering. Do not rule it out in a system that appears corrupted, evident on both the Democratic and Republican sides, like McConnell, perhaps with some China connections through his wife. Additionally, there's the megalomaniacal hype and support from Hollywood and the press. But Money definitely counts. Or is it ideological incest, based on megalomaniacal behavior? 

McConnell's relationship with the Biden administration has been portrayed in media as one of comity. Biden has described McConnell as "a friend, colleague and 'man of his word.'" McConnell, for his part, has praised bipartisan legislation they worked on together, and had been the only Republican to attend the funeral of Biden's son, Beau (in 2015).[104]

On the other side of the coin, the Democrats are strategically maneuvering within the caucuses, eliminating competition for President Biden. Meanwhile, Kamala Harris remains convinced that the Biden/Harris ticket will secure victory in 2024, just as they did in 2020. They label the opposition as "NAZI" and liken them to characteristics close to feces, all in the name of defending democracy.

Despite the global norm of restricting abortion to around 12 weeks or, with doctor permission, 24 weeks, Kamala Harris dedicates her time to advocating for unrestricted abortion, supported by Pope-approved Joe Biden. The fact that many women support these efforts raises questions about ethical values.

Meanwhile, Biden on Monday is expected to convene two dozen senior officials in the White House for a meeting of his reproductive health task force, where he will be joined by several physicians who have practiced in states with abortion bans. Vice President Harris is slated to kick off a multistate reproductive rights tour with a visit to Wisconsin, where she is expected to criticize a proposal by state Republicans to ban abortion after 14 weeks of pregnancy. Wisconsin’s Democratic governor has already said he will veto the bill.

“On this day and every day, Vice President Harris and I are fighting to protect women’s reproductive freedom against Republicans’ dangerous, extreme, and out-of-touch agenda,” Biden said in a statement.

John Kerry calls it quits as Climate Czar,receiving an endorsement from Al Gore to support Biden in the 2024 election process. Others would argue that, despite his extensive travels and speeches, it remains uncertain what he will consider as accomplishments.

 “John Kerry’s tireless work to deliver global progress on the climate crisis has been heroic,” former Vice President Al Gore, who has focused primarily on climate in his post-public office life, said in a statement Saturday. “He has approached this challenge with bold vision, resolute determination, and the urgency that this crisis demands. For that the U.S. and the whole world owe him a huge debt of gratitude.”

While his gravitas has made him a central climate figure around the world, Kerry also has strong critics who argue America’s climate policies don’t amount to leadership in fighting global warming. The Inflation Reduction Act, the largest climate law in U.S. history, is pumping billions of dollars into renewable energies. But many facets of the law emphasize domestic production, thus leading other nations to complain that the law is protectionist and detrimental to their own green industries.

Just in time for Government hand out’ from the Infrastructure Investment the ESG Champions at Black Rock are buying up a Company who will certainly benefit, and the Company will be led by a Goldman Sachs Person, who resigned from his post. As you can see, Goldman and Black Rock seem to see some dividends for their election investments, and now create good paying Union Jobs, don’t bank on it, however. 

Five of the six founding partners, including Chief Executive Bayo Ogunlesi, are joining BlackRock. Ogunlesi will sit on BlackRock’s board and resign as lead director of Goldman Sachs. He will lead BlackRock’s new infrastructure group. “Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy,” BlackRock Chief Executive Larry Fink said in a statement. “Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects.” 

Goldman Sachs is out of the gate with fourth-quarter earnings, and its bet on asset and wealth management seems to be paying off. Revenue in that division was up 23%.

-Profit rose 51% from one year ago, to $2.01 billion.

-That amounted to $5.48 per share. Analysts polled by FactSet had expected $3.62 per share.

-Revenue increased 7% to $11.32 billion, beating the $10.8 billion analysts expected.

-Investment banking revenue was $1.65 billion, down 12% from a year ago

-Trading revenue of $4.64 billion was down 2.5%.

-Like its peers, Goldman had to recognize a special assessment by the Federal Deposit Insurance Corp. The agency charged lenders as a way to refill its coffers from last year’s bank failures. Goldman took a $529 million charge, roughly in line with what it had already predicted.

-For the year, profit fell 24% to $8.52 billion. Revenue fell about 2% to $46.25 billion.

Reporters without Borders,viewed through one's perspective, is certainly a left-leaning organization. However, if freedom of the press is an indicator for democracy, it's worth examining where these ideals lie. It's important to note that the claim of fake news due to Trump and labeling the other side as NAZI contributes to a higher rating. Therefore, watching CNN or MSNBC continuously calling Trump a criminal and suppressing Hunter's laptop — is this an example of freedom of the press?

In the north, in the United States (down 3 at 45th), the Biden administration has also shown a much better disposition towards the media than the previous administration. Nonetheless, the country’s slight decline in the 2023 index was due to the continuing economic difficulties of the media, the murders of two journalists (Jeff German in 2022 and Dylan Lyons in 2023), and the end of efforts to support freedom of the press at the legislative level (the PRESS Act), as well as former President Donald Trump’s continued attacks on the media.

What Economy? If it contracts slower than the Month before it grows? So we talk abortion in the Biden administration, Ukraine, Israel, Border, its all not so great? But abortion, that’s most important. And growing the Government? 

Government employment increased by 52,000 in December. Employment continued to trend up in local government (+37,000) and federal government (+7,000). Government added an average of 56,000 jobs per month in 2023, more than double the average monthly gain of 23,000 in 2022.

ISM Report: Manufacturing Contracts at a Slower Rate in December, Of 17 industries, 16 reported contraction in December; only Primary Metals reported growth.

For the 14th consecutive month, manufacturing economic activity contracted in December, according to the Institute for Supply Management’s December 2023 manufacturing sector report. The Purchasing Manager’s Index reading of 47.4% is up 0.7 points from the previous month, indicating a slower rate of contraction.

“None of the six biggest manufacturing industries registered growth in December,” said Timothy Fiore, chair of the ISM’s manufacturing business survey committee. “Four out of the five subindexes that directly factor into the Manufacturing PMI are in contraction territory, down from all five in November.” The PMI also suggests contraction of the overall economy.

The production index entered expansion territory with a reading of 50.3%, 1.8 points higher than November’s figure. Anything lower than 50% represents contraction.

Although remaining in contraction territory, the employment index reading of 48.1% is a 2.3-point increase from November. The new orders index is contracting faster, registering 47.1%, 1.2 points lower than the previous month.

Several respondents expressed optimism for 2024 in the comments of the survey, with one computer & electronic products executive noting, “As budgets get approval after the start of the calendar year, this should help drive investment and increase manufacturing activity once again.”