35 Burst results for "Chief Strategist"
Why the Treasury wants its money back
"There are days of which this is one when we are obliged by the news to get just detached down in the weeds so we will because we have to. But we'll do it gently back in march in the cares act. Congress authorized the treasury department to let the federal reserve us about four hundred and fifty billion dollars to fund. A bunch of fed lending programs programs that would and remember back in march and april. The fear factor was pretty high in this economy. Right these programs would stabilize credit markets. And in a way thus backstop the whole economy. Well yesterday treasury secretary steven mnuchin. Told jay powell. He wants the money back. In other words those lending programs the secretary said are none the fed not known for its political loquaciousness. Said in a statement. Yesterday afternoon it would prefer the money and the emergency programs. Stay where they are. But after noon sherpao roach secretary mnuchin and told him the money's on the way so we will get to the what it all means thing with lopez and genus smile. Like in a minute but first marketplace abbreviation shore with what exactly these programs did in different ways. These programs all allowed the fed to get down and dirty in the mud of credit market so for example a couple of them allowed the fed to actually buy corporate bonds another loved the fed to buy short-term bonds from state and local governments another allowed to indirectly by up car loans and student loans they essentially stood there and said you know we'll be a buyer of these things will support these markets yousef obasi is global market strategist at stone ex. Now the reason we care that the fed could buy these securities. Is that for a while. They're in this pandemic. It was looking like nobody else would and if nobody wants to buy up for example loans. People aren't going to get as many loans and loans are what kept some businesses. Live and local governments functioning. You're talking about essentially the entire credit markets could've yearly froze if the fed didn't step in with these facilities the fed supported credit market so credit markets could support people. Chris campbell is chief strategist at duff and phelps and former assistant secretary of the treasury they allow for serbia liquidity or money available to banks or institutions to have them to be able to lend you money by all accounts. These programs worked. Edward altman is professor of finance emeritus at nyu. The treasury felt that it has succeeded so well that it's no longer necessary. Oldman sees that is. Ill advised to give them the looming threat of further shutdowns but secretary mnuchin has said businesses need grants now not loans. The four hundred and fifty. Five billion dollars in question could be re purposed into a miniature stimulus. Deal before a new president is sworn
How Is Social Media Confronting Election Misinformation
"Well, we had so much speculation about social media. You know there there's gonna be a lot of misinformation Election night and all week was there. And how did this all work out? Yes, all the major platforms did have plans as we talked about last week to try to prevent misinformation from surging on social media. In retrospect, it appears that Facebook and Twitter have managed pretty well. But YouTube is still being criticized for how they handled things. Twitter regularly flag the president's account for Miss Linney tweets. And permanently suspended in account belonging to former White House chief strategist Steve Bannon proposing a video on the network inciting violence against Dr Fauci and the FBI director. The video was live on Bannon Facebook Page, though for about 10 hours before it was removed, and YouTube also eventually removed the video for violating its policy against inciting violence. YouTube was criticized for being too slow to take action on this and other videos. Facebook also removed a fast growing group called Stop the Steel, in part because it also called for violence from some members of the group. Twitter and Facebook, both suspended or tag left and right leaning news accounts posting information about voting, including at least three fake Associated Press accounts. That Twitter hastily removed Wednesday after they declared bite in the winter, winter and Michigan before it was actually announced. So lots of information I did see even in my own social media that I wasn't getting notifications from some more kind of politically leaning groups and you know that they definitely were slowing down the spread of information for sure on Facebook. Right. I saw 11 restaurant here Is Florida posted something. That was very far left. And and boy. Oh, boy, did they pay for it? I mean people for out with vengeance after them and Is just not a smart marketing move. If you're you gotta remember over 70 million people voted for Donald Trump. And if you are, I have a business that requires you to draw customers to it. Maybe it's not such a good idea to do that, but I could be Ah Pinterest licked in other social media sites of Ah, forced into the war against massive information this cycle. How does pin it up interest to do that? I mean, I thought this was something you look for. Don't know. Pictures and stuff, right? Yes. Well, you know with with these other network, you know being you know, focused on taking down misinformation. People are turning to these other groups up interest, which is normally a place to share recipes or crafting ideas. Researchers found that the phrase stolen ballots Um, promoting false claims about vote county of process. So the company they're also removed post had violated its policies even linked in which, as we know, it's mostly about, you know, sharing business information. Where people were sharing videos and articles that push false claims about the election. The company also moderated post that it considered to be incorrect, so people who were having their post taken down on Facebook or Twitter were turning to other Other networks, some even the social media site next door neighbor. I don't know if you tell you that too much most commonly place to complain about speeding neighbors with used to Paul Post claims about the election, and but that apparently is pretty much self moderated. So the people who are in the neighborhood were taking down those so You know, Certainly, people will definitely find lots of places to post information and, you know, it's really up to all of us to make a decision about what we want to believe in. You know where we find credible info. Yeah. And look, look some other places too. Just don't take one and say, Oh, look at that. A lot of sources these days.
Are We Being Forced to Buy Stocks
"Last week in the insiders guide email newsletter I pointed out the expensive valuation of US stocks. Specifically I showed that the forward price to earnings ratio the P. E. based on earnings estimates over the next year was twenty, two point nine. That's three standard deviations above its average of sixteen times going back to two thousand, three at data from Ned Davis. Research. In reply to that email, Andrew wrote regarding stocks being expensive on a forward e true but there's no alternative. What do you do with bond yields near Zero and the vanguard total stock market? Index. Fund. Yielding two percent. By VPI, the vanguard total stock market ETF. JASA forwarded to me a paper by Bridgewater says, which I'll discuss in more detail later in this episode. I had a similar question from a plus member in the money for the rest of US plus member forums. He wrote. So the Fed signals that it wants to keep rates low for three more years. Canada's pension. Fund is reevaluating bond-holdings and you've got an army of small and large investors bidding up companies like Tesla and snowflake to absurdly hype. All this combined to make me think are we as individual investors now forced to buy equities? Is this the mother of all bubbles in which there's literally no other things suitable for purchase. There is a lot of speculation in stocks right now. Jim. Bianco Bianca Research pointed out that small traders are dominating the options market. Bear most of the trades right now and seventy five percent of that volume is an option contracts expire in two weeks. So short term bets. Look at South Korea and article from Bloomberg pointed out that day traders in South Korea have accounted for eighty seven and a half percent of the total value of stocks traded in the first part of September. You. Some men chief strategist at Samsung Securities said retail investors appear to be seeking short-term profits after hearing their next door neighbors earned lots of money from stocks after the March selloff. Receiving a similar situation in India. The Financial Times reports that the number of individual investor accounts rose twenty percent from the start of the year, the twenty, four million, and they point out that around the world, an influx of investors are investing in stocks for the first time. Are. We in a bubble? Is it a speculative frenzy? Are we forced to buy these stocks because there are no alternatives with also? One of the things I like to do investing is think about what's different this time what's unusual? What what doesn't fit the pattern? I had two instances of investing this past week where something didn't fit the pattern Lebron, I were driving up in the mountains of Montana and a small bear cub really bolted right in front of us no idea what it was running from. My son suggested he was running from the year twenty twenty. And then few days later at our front door, there were seven cows drinking water from the driveway eating our bushes. There are no cows around us. We live in an area that nobody keeps cows but there they were right in front of my house. Turns out. They had strayed from the National Forest, which is not very far some outfitters have grazing rights and drop off the cows and leave them there all summer pick them up come late October, and they had straight down because some of that newly cut barley fields, but it didn't fit the pattern. Cows at your front door. Don't fit the pattern. What's different now on investing front that could justify more expensive valuations for stocks. Well, for the first time, ever US interest rates are near zero from short term out to ten years. This is known as a flat yield curve, which is an unusual. We've had flat yield curves in the past. But it's flat near zero. There was a flat yield curve where ten treasury bonds and cash for yielding similar back from two thousand and five to two thousand seven. But yielding four percent. And from two thousand to two, thousand, two cash and tenure treasures were yielding five to six percent. Today, the ten year Treasury yield is zero point, six percent and cash is zero. The Federal Reserve intense to keep it that way. The recent policy statement suggests that they will keep their policy rate. What's known as the Fed funds rate near zero until labor market conditions have improved. The. Unemployment rate has dropped close to to to maximum employment and that inflation has risen to two percent is on track to moderately exceed two percent. They included their economic and rate projections and all, but four officials on the committee. Expect the Fed funds rate is still be near zero at the end of twenty, twenty three. Rates are low across the board. It is a different investment environment than we have ever faced before. And that's what this paper by bridgewater associates was about. It was titled Grappling With the New Reality of zero bond yields virtually everywhere. It was written by Bob Prince Greg Jensen Melissa fear, and Jim Haskell. I. Discussed Bridgewater Associates Founder Ray dallies views back in episode three, hundred changing world order in this paper bills off that. Before we continue let me pause and share some words from one of this week sponsors masterworks. I've shared on the show how low interest rates are on bonds and yields and cash about zero money has to be invested somewhere in preserving your wealth is as hard as it's ever been. That's where masterworks comes in. If you're looking to diversify out of the traditional public markets, then take a look at masterworks. They make blue chip art investing possible works by artists like Banksie, 'cause and Warhol. Art is a one point seven trillion dollar asset class that has performed better than s five hundred by one hundred and eighty percent between two thousand and two thousand eighteen according to Citibank.
Former Trump chief strategist, Steve Bannon, arrested on fraud charges
"Trump is distancing himself from former adviser Steve Bannon after Bannon was arrested in connection to an alleged fundraising scheme for a border wall fund. Former adviser to President Donald Trump, Steve Bannon smiled as he left in New York City courthouse Thursday. He spoke briefly to a swarm of supporters and media presidents, former chief strategist is out of jail on $5 Million bond after pleading not guilty to wire fraud and money laundering charges, Prosecutors say he defrauded donors in a $25 million campaign to fund a wall along the border with Mexico.
Steve Bannon Arrested on Border-Wall Fraud Charges
"Architect of Donald Trump's twenty-six election victory who wants claimed he wanted to destroy the state and bring everything crashing down was arrested on a yacht on Thursday and has since pleaded not guilty after being charged with defrauding donors in a scheme to help build the president's signature wool across the US Mexico border. As a top advisor to trump's presidential campaign who later served as White House chief strategist. Bannon. Helped articulate the America first right-wing populism and fierce opposition to immigration that have been hallmarks of trump's three and a half years in office. Dinan was among four people arrested and charged by federal prosecutors in Manhattan with conspiracy to commit wire fraud and conspiracy to commit money. Laundering prosecutors accused the defendants of defrauding hundreds of thousands of dollars through a twenty, five, million dollar crowdfunding campaign cold we build the wall. Bannon used hundreds of thousands of dollars of that money to cover personal expenses according to the charges. He was freed on a five million dollar bond and was barred by Federal Magistrate Judge from traveling internationally. Bannon was arrested in Connecticut by agents from the prosecutor's office and the US Postal Inspection Service aboard a one hundred and fifty foot long yachts according to a law enforcement source trump told reporters at the White House that he feels very badly about the challenges but typically sought to distance himself from Bannon and the alleged scheme Bannon is the eighth close trump associates to be arrested or convicted of a crime former campaign chairman, Paul Manafort longtime friend and advisor Roger. Stone. Former national security adviser. Michael Flynn and former personal lawyer Michael Cohen. The indictment comes as the Republican. President trails Democratic challenger Joe Biden in opinion polls ahead of the November third presidential election. Biden's campaign said corruption surrounds trump.
Steve Bannon is Arrested and Charged With Fraud in 'We Build the Wall' Campaign
"Trump campaign adviser and White House chief strategist Stephen Bannon this afternoon pleaded not guilty to federal fraud charges. Correspondent Kara Scannell says Bannon has been charged with ripping off people who gave money to an effort to privately built part of the Southern border wall. But this is actually correspondent Steve Kastenbaum, Steve Bannon and others claim that all money raised for a border wall between the U. S and Mexico was going toward Their cause. But the U. S attorney claims Bannon and others defrauded donors to the We build the wall campaign by secretly passing on hundreds of thousands of dollars to Bryan Cole Fage, the triple amputee Iraqi War vet who founded the fundraiser. More than $25 million flowed to the online fundraising
Steve Bannon charged with fraud over Mexico wall funds
"Bannon has been arrested intimidated. By the Southern District of New York no less on fraud charges. This is not the development I expected to see as Joe Biden prepares to take nomination. But let's let's just remember here for a second that Steve Bannon was. Really an architect of the trump campaign He was chief strategist in the trump White House during most of year one. He is somebody who the president had a falling out with, but has more recently said Nice things about. This is something else and he now joins on the number of people really close to the president in really important positions that have been indicted arrested faced criminal charges, his campaign chairman. Paul. Manafort. His National Security Adviser Former National Security Adviser Michael Flynn, his personal lawyer. Michael Cohen, his really the first political strategist. Conceived of the trump campaign, I a Roger Stone not to mention a that we could get into but I mean this is this is quite cast of. Allegedly criminal characters of did have been right there at the president sign and the particular ironies around this that you have to the Post Office Acting against the Bannon you can't make that up and the fact that this is about the wall that Mexico was famously going to pay for in, of course that wasn't happening and there was an effort by alleged by Steve Bannon and several other people close to him to to raise money to to have private funds to pay for that wall they ended up according to the the US Attorney's office in the southern district trying to line their own pockets with that money. So it is downing the. Timing of this, of course, fascinating president trump had the US attorney in that southern district replaced by his attorney general just a few short weeks ago we know of other active criminal investigations that affect trump world they're coming out of that same office and all of this to happen here on on Joe Biden's Big Day on the eve of the Republican National Convention where the wall is going to be a major talking point Steve was a big part of that last convention he very much won't be this year.
Steve Bannon indicted for fraud over campaign to build private border wall
"An indictment unsealed this morning in Manhattan Federal court shows former White House adviser in Trump Campaign Chairman Steve Bannon has been arrested along with three others, all accused of ripping off donors who gave to an online crowdfunding campaign called we Build that wall. He was once one of the president's chief strategist, and now he's facing wire fraud charges. And and is accused of funneling private donations into his own pocket. This scheme involved and co funding page called We built the wall Private donors for has to help President Trump fulfill his promise to build a wall on the southern border. The effort raised $25 million And and and three other men promised they wouldn't be paid. The indictment claims he's came hundreds of thousands of dollars. His 66 year old was arrested this morning. Peter has school that huge city as whose radio 80
GoFundMe "Trump Wall" campaign to refund all donors
"Former White House chief strategist Steve Bannon, along with three others, is accused of defrauding donors to there. We build the Wall Crowdfunding campaign that raised more than $25 million Authorities with the Southern District of New York say donors were told the money would be spent on border wall construction, but that some of those funds were siphoned off for personal gain and routed through a Shell corporation using fake invoices in sham vendor arrangements to conceal it. All four were arrested This morning. They're charged with wire fraud and money laundering, each of which carries a maximum penalty of 20 years in
Steve Bannon charged with fraud over Mexico wall funds
"Former chief strategist, Steve Bannon, is facing fraud charges in New York. Federal prosecutors charge the former editor of Breitbart's news and three others over activity related to a group called We Build the Wall, which raised funds to build a border wall with Mexico. In a statement, U. S Attorney Audrey Strauss said Bannon used funds from that group to pay personal expenses. Bannon is expected in a New York courtroom today. Joe
Impact from the coronavirus-induced recession will be felt through the end of 2021, says Morgan Stanley chief strategist
"Stocks head into today's session on track for a weekly loss market rally yesterday despite another surgeon weekly jobless claims Morgan Stanley chief strategist Mike Wilson says it'll take until the end of twenty twenty one when do the damage done by the pandemic we have a huge hole to fill from this recession the next six quarters before we even get back to where we were and and that process is what the markets trying to digest now we'll see readings today on consumer sentiment and April retail
US Economy Loses Jobs For First Time Since 2010
"For the first time in more than nine years the U. S. economy loses jobs it shed more than seven hundred thousand positions in March and the unemployment rate jumped nearly a full point to four point four percent the result of widespread economic disruptions during the corona virus pandemic here CD Ameritrade's chief strategist JJ Kinahan this is one of those numbers that so monsters nobody really knows what to do with it we knew things were bad and so this confirms that things were bad in the last two weeks nearly ten million Americans filed for unemployment
Why The Rise of Passive Investing Might Be Distorting The Market
"Hello and welcome to another episode of the odd lots podcast. I'm Tracy alloway and I'm Joe Weisenthal. So Joe I tweeted something recently early and It provoked a large response on social media. It's weird how that happens right. You tweeted something that provoked a response. I I find it very hard to believe. I know it's outrageous but I was talking about. Have you heard of the fire of movement. Yes vaguely like I am familiar with it. It's has to do with people Retiring early right. Yeah so it's fire as an F. R. E. and it stands for financial independence retire early and the basic idea is you can save a lot of money and if you invest it wisely you can retire at an early age like in your thirties and supposedly it's it can work out for for. Even normal people are people on normal normal salaries. We're not talking about really wealthy people and the thing that I always find really interesting about. It is when you go and read about how people are actually investing investing that money so that they can retire early. They're almost all talking about doing it themselves. And be through passive investments events like. ATS right exactly right. So people think they live frugally. They they work for several years. They live frugally. But but then they sort of have this confidence that historical returns that we've seen in stock and bond markets throughout the world will always be there for them in the future and so they just put a bunch of money in passive. ETF's or you know it passive ish ETF's and then they count on that existing for the rest of their lives and then they do something. I don't know they go on. Read it or tweet for the next from thirty five until that's right and the reason I find. This wasn't so bad to me to be honest I would be. I would do that if I if I had confidence. You can see the going up for sure but the reason I find it so interesting. From a market perspective is to me it hits upon like a number for a very very important themes but really it hits upon this question of whether or not the fire movement can exist without the bull market that we've seen for the last ten years right like it's very easy to say dump all your money in something like You know a vanguard total stock market. ETF and just watch it soar. When that's the thing that's been happening for years and years and years? Well I'll say two things. One is certainly raises. The question about whether this subculture can continue to exist but it also raises another question about people who aren't in that subculture but in a way have defacto in fact he'll bought into because this mantra that we've gotten from Sort of the media and fund management industry is okay. Most people aren't saying you should try to retire at thirty five or forty but this idea never try to time. The market never pick individual stocks. Just have a broad diversified provide basket of ETF that you may be rebalanced every once in a while has become so intense and extreme and everyone's being pushed to invest like that so even if you are one one of the fire people on read it it still raises the question. Of how much is everyone else who is not planning on per se. Retiring early. Essentially bought into Olis' extreme version of the same story absolutely and you'll see a lot of the investment advice set. The fire people talk about is actually very very similar to advice given to people generally generally when it comes to their 401k's and stuff like that passive is supposed to be cheaper. It's supposed to be much better. But what if there's a downside to passive of investing we've spoken about active versus passive on the podcast before but we haven't done that much on how passive investing might actually be changing the the way the market functions. No absolutely and it's such an important question given as we've been talking about how many people have portfolios in which the only action they do is just add to the same basket of three or four. ATF's every single month working lives. It's been fantastic since the crisis with incredible rally in stocks and bonds simultaneously but as they say Past performance no guarantee of future returns. This is true all all right. Well I'm happy to say that we have the perfect person to talk about this today. our guest is Mike Greene. He's the chief strategist and portfolio manager over at Logica a capital investors. Mike thanks for being on. Thank you for having me so I guess my first question is. How did you get interested in at this? Particular area examining the impact of passive investing on the broader market. Is that something that you are observing in your sort of day job. Well the way I think of my day job is to really try to understand the market structure. I'm not a traitor in the traditional sense wasn't trained on a prop desk or anything else and so you know I've always managed to make money by trying to figure out. Actually what people are being forced to do. What is the incentive structure? That's causing people to do what I think is fundamentally irrational rather than just saying. Hey they're crazy using stupid and this eventually stop the opportunity to dig in and understand. Actually the incentive structures that have been created the restraint requirements requirements for people to engage in certain transactions whether it's from a regulatory framework or whether that's from a an institutional framework basically built into their Prospectus this ultimately that can create the opportunity to identify trades that you think are irrational and have the potential to break as that behavior is brought to its logical extreme. That's how I stumbled onto this stuff. So what are in your view. The big structural trends or the big structural impositions on individual investors or pension refund or any other entity. That has a lot of money that are all causing people to sort of invest in the same way right now one of the big the key ideas here. So there's a couple of Keith. Things the first is is that the growth of passive investing has has been well documented right and the narrative behind the outperformance fundamentally built around the work of of Bill Sharpe. who was the father of of the sharp ratio The cap M Formula Etcetera His paper in Nineteen ninety-one called the arithmetic of active management management. Is this analysis that we've all heard that says fundamentally passive investors by definition are only matching the active investors in terms of their overall allocation. And so the difference is just GonNa it'd be fees which means that the active managers underperform. Everyone accepts this Today because we've seen the evidence of the outperformance of passive but very few people take time to go back and actually look at the construction of the problem. The assumptions that existed under that the assumptions are just absurd right so in in the definition of what a passive investor is according to Bill. Sharpe is that pass. Investors hold all the securities on the market. How do they get in? That's magic out of the get out. That's also magic. They never transact right the minute they transact they ceased to be passive investors and as we know passing vehicles or feeling with billions and billions of dollars of inflows on a daily and weekly basis there in the market transacting. They are the single largest trans actors actors. By far and as a result they have to be influencing the market they cannot be passive the fundamental premise on which this whole idea is built is flawed right. The second thing that has happened though is because passive investing has grown so large and so powerful. The resources to engage in lobbying efforts to institutionalize passive within the framework has expanded dramatically. Most people have a cursory familiarity with things like 401k plans. IRA's vast majority of Americans have some exposure go through their employer to these plans. Those rules have changed over the years. Through the lobbying efforts of passive players vanguard and Blackrock to inculcate passive of strategies into these vehicles under the premise that this is the best possible vehicle for the vast majority of Americans to invest in and it had the effect of creating this crowding crowding that is further accelerated the performance of the benchmarks that these are ultimately tied to Oman. Sorry there's so much just in the first a couple of minutes That I find really really fascinating. Oh why don't we go back to the first point. which is this idea that? When we're evaluating the performance silence of passive versus active where not actually taking into account the way that passive can influence the market? So how are you seeing passive investing actually impact the market. Now we're seeing it in a couple of different ways right One is that we're seeing a distinct performance advantage that is being created for those securities that are in indices that are being invested into by passive investors. This is fairly well studied phenomenon in terms of the dynamic. What's called index inclusion? So we have one off events in which we can look at securities that have been put into an index or have been injected from a widely traded index. And we see either. There is a distinct and permanent shift in the valuation the price levels associated with those securities. Mrs Well Documented Academic Literature with the literature editor has not studied is the dynamic of the continued inclusion the continued flow of capital and that becomes a harder problem because suddenly they're on par with all of the other constituents students in the index and they're all experiencing it all right so I I gave a speech several years ago in which I compared it to the David Foster Wallace. This is water right. The medium him in which we're actually participating as being skewed by the behavior of these passive flows.
Data reaffirms expectation for a slowing in consumer spending
"More we are so lucky to have Danielle DiMartino both in the studio with us here chief executive officer and chief strategist of quill intelligence also a Bloomberg opinion column as a former fed employee in Dallas and you know I really want to focus on the consumer we got a number of data today I got a point consumer spending came in lower than expected and the Bloomberg consumer comfort index plunged the most on a weekly basis in eighteen years in eight years and yet Jake how this put all of his eggs in the one basket of saying we're not going to cut rates as long as the consumer hangs in there it's a big bet on his part I mean he really really is not diversifying fed policy let's put it that way all right so I take it just from that come along that you think that the fed you becoming more it's not so much the rate will look the economy is slowing and it gets tiresome to listen to these press conferences when Jay pals clearly in denial yes interest rate sensitive sectors actually let's just say sector because autos really haven't budged in fact auto buying intentions in the latest consumer confidence data are crashing so the only thing the only needle that's been moved by these rate cuts in housing that's it and and we're seeing as I was as I was just thinking least worst we saw in the bank earnings reports that the credit card spending rates have been coming down revolving credit has been a tremendous support for consumer spending we're seeing the saving rate take up we saw that this morning it took up to eight point three percent consumers are clearly battening down the hatches were seen deposits cash savings increase as well so I think the consumer senses that there's something amiss but again that's where Jay pals got all of his bass all right there are two questions implicit here first question well cutting rates actually encourage consumers to spend more no there it it's it's now I I don't think it will and that you know might mean he's been very good at press conferences about drilling him on this what are these rate cuts going to do I think the rate cuts have more to do with the plumbing in the financial system because the fed is buying treasury bills like there's no tomorrow and money market funds are arbitrage in this by parking their money at the fed where they get an additional ten basis points it's boxing the fed into where they have to continue to lower rates okay the second question that I have is regarding that credit card spending is the biggest banks I read the heard on the street column in the Wall Street journal about this and it was not that it is declining it's just that the growth in the credit card revolving credit has been lower right coming down and I guess they're two ways to read this you could read this as a tempering of the economy which everyone knows that it's slowing and you could or you could look at it as out waiting consumer confidence and a sign that things are gonna turn south which is the correct read I think that consumers know that there is slowing let jobless claims of barely moved by the breath of states that have increasing jobless claims has increased from about a third it hit seventy five percent in September we're running about fifty one percent now of state in the country with rising jobless claims and to your point about growth in credit card spending slowing the average weekly earnings will get new data out tomorrow morning but in June it was running at a four percent right in September it'd take down to two point six percent that's the paycheck growth it's not so much that income is declining it's that households know that their paycheck is no longer growing at the same pace so it's it appears a chairman pal and some members of the the dovish fed if you will are thinking about it it's all about the jobs and everybody's got a job on points at its all time low briefly tell off the sidelines a lot blah blah blah blah so tomorrow what's the what do you look at the cut through the blah blah blah tomorrow the jobs number so I'll be focused tomorrow on the sectors where we're seeing job growth if you looked inside the internals of the eighty P. report yesterday one sector financials that was the only one where you saw any growth of any kind and super large companies over a thousand place otherwise you name the sector contracting and you name the size of the business seriously slowing growth so I'm going to be looking at where jobs being created we've seen in the survey we've seen in the soft data that service and employment indices have come down with in in the case of market it's a ten year low so I'll be looking to see what types of jobs are being created dig into this consumer comfort data and you will see that the highest income earners their confidence has been coming down mom at a much faster pace than the people who they employ who still have high confidence are the is the consumer a leading or lagging indicator absolutely lacking every recession like sixty three percent of post war recessions we have been in recession with with expanding consumption it is not something that you look to to see where the economy is headed it is something you look in the rear view mirror to see post facto we're cooking what did you want to hear from chairman Powell yesterday that you didn't hear I wanted to hear a lot more about the repair facility I wanted to hear a lot more about why he contends that it's not quantitative easing just because it's at the at at the short end of maturity curve I don't think there were enough questions that were asked and I think that his intent and his Cinderella wish is to have a nineteen ninety five nineteen ninety eight redox and be Alan Greenspan to where the economy just continues to expand after three rate cuts but in ninety five we were at the beginning of an economic expansion in ninety eight we had a massive hedge fund blowing up these were idiosyncratic events were not there we're deep deep deep into this economic expansion and I would have preferred to have seen a little bit more about him saying no more rate cuts but by the way QB's blasting right king of the Martinez thank you so much for joining us really helpful Daniels the CEO chief strategist of quill intelligence also a Bloomberg opinion calmest giving us her smart thoughts on what we heard yesterday from chairman Palin the fed and what we might be looking for to what we need to focus on tomorrow with the jobs number of course Bloomberg radio will cover the jobs report in full as we
Hopes for trade breakthrough fade as China cancels U.S. farm visits
"The S. and P. five hundred index halted a three day advance with losses coming after Chinese trade officials canceled farm visits and president trump called the nation of threat match Malia's chief market strategist at Miller tabak he was our guest on Bloomberg businessweek we don't know exactly what happened why they left earlier why they didn't go to are are going to Montana what's something said in there in the negotiations that that there was hawkish and and talked and if that's the case which it seems to be a cook it certainly could be is this another situation where cheese the fed cut interest rates and then president trump isn't a great now I can be more. with with with China as for where we go from here seem a Shaw is chief strategist of principal global investors we see acting marketing relatively well over the rest of the S. I mean a very modest rally I'm not if he means that the global economy recovers us recover stabilize even towards the end of the year but it also you have to imply that that none of the shock that are threatening the global economy come
Trump Calls China a ‘Threat to the World’ as Trade Talks Approach
"The S. and P. five hundred index halted a three day advance with losses coming after Chinese trade officials canceled farm visits and president trump called the nation of threat match Malia's chief market strategist at Miller tabak he was our guest on Bloomberg businessweek we don't know exactly what happened why they left earlier why they didn't go to why aren't going to Montana what's something said in there in the negotiations that that the was hawkish and and tough and if that's the case which it seems to be it could be certainly could be is this another situation where cheese the fed cut interest rates and then presidential descent great now I can be more. with with with China as for where we go from here seem a Shaw is chief strategist of principal global investors we see acting marketing relatively well I would have to be assigned me a very modest rally I'm not hearing that the global economy recovers after a couple stabilize even toward the end of the year but it also you have to imply that that none of the shock that a threatening the global economy come to fruition household wealth kept piling up in the second quarter but debt did too with more here's Bloomberg's Vinny del Jude eyes that worth rose one point six percent to one hundred thirteen point five trillion dollars on top of the prior quarters five percent gain stocks it fresh eyes on price gains remained intact as always some people are doing better than others household debt xcelerated at the fastest pace since twenty
U.S. Long-Bond Yield Nears All-Time Low as Global Anxiety Grows
"And global bond yields the yields are lower again today the rate on the thirty year bond fell fourteen basis points yesterday announced it's less than two basis points away from an all time low Chris wobbling is chief market strategist at long view economics I think there's an argument now with this loss maven bone said that basically in a bubble because it's clearly ludicrous what these bonds yielding at the moment there's more money chasing less assets so cool to get these ridiculous seals that people were actualized but it's clearly upset if you're getting a negative return to buy something the yields on ten year German bonds are currently negative by sixty one basis points well ten years Swiss bonds yield negative one percent still demand remains high as the trade war turmoil in Hong Kong and political risks in Argentina stock of flight to safety Ralph Solomon's he's chief strategist at camp in capital markets if you look at what's going on globally corrosive slow and slowing inflation is non existence and the momentum in the economy is the hours add to that some geopolitical risk and there's only one way to go for more deals right now the two year yield to the U. S. one fifty seven the ten year U. S. yield one sixty two and the thirty year bond yield two point zero nine
Christine Lagarde, President And IMF discussed on Bloomberg Daybreak: Asia
"The head of the International Monetary Fund Christine Lagarde is set to become the head of the European central bank now the guard would be the first ECB president to how not have a career as a central banker she was to be fair the fate of French finance minister before she became head of the IMF we spoke earlier with Alicia Levine chief strategist of BNY Mellon she says the guard is a new breed of the ECB president and that could be a good thing this is really a political figure much more so than an economist and much of Europe's problems really Sam from the politics and the political economy that is what does it mean to have different fiscal policies when you have one monetary policy and how that plays out politically and talk about breaking the glass ceiling madam Lagarde would also be the first woman to run euro area monetary
"chief strategist" Discussed on Here & Now
"Chief strategist, Steve Bannon praised the president for his meeting with Putin told CNBC in a statement that quote, the elites in our country left President Trump with disasters all across the globe. And then he said the president knows he needs to end the Cold War on our terms and unite the west against the rise of a totalitarian China. What do you make of that statement that this is all a big strategy to bring the world together, including Russia against China. Well, Mr. Bannon sees things in manichean very dramatic tomes. There is no doubt that Russia, China, unlike Russia. Remember Russia is a relatively weak country with an economy based very much around the export of oil, right? China's together. Different mats in China is rising power. Yes, that is a growing. Into of American strategic thinking and should be rightly so. But to present it in these dramatically manichean terms, you know, typical Mr. Bannon and isn't paps necessarily to to give Russia a free pass on the way. It's behaving at the BBC's, Jonathan, Marcus, Jonathan, thank you. Pleasure. Well, not a Puerto Rico where it's the height of hurricane season, even as residents are still struggling with a catastrophic effects of last year's hurricane. Maria, a recent report from the Federal Emergency Management agency, or FEMA says that storm made one thing clear the government needs to make it easier for residents to apply for housing assistance, Connecticut, public radio's,.
"chief strategist" Discussed on WNYC 93.9 FM
"There's a lot of hand wringing about which direction to go this shows that you can win if you have someone who is simply well known in the district and fits the district's voters well but the other half of this is what republicans need to be wary of which is donald trump went into this district twice mike pence went into this district many members of the white house went into this district succumbed was even calling himself trump before trump was trump and yet in a trump plus twenty district he lost and so there's a real question about no matter what kind of democrat is running at all if they can't win in a trump plus twenty district while they're vastly outspending democrats what's on the airways where are they going to win now many democrats as a result of all this also seeing opportunity to win a presidential election in twenty twenty against the candidate who presumably will be running for re election but who is this scandalized and this polarizing and your article on politico today says the hiring stage of the twenty twenty shadow primary is underway so what's shadow primary and what's his hiring everything's a shadow primary these days i was referring to before anyone declares for real for president there are certainly a lot of people in the democratic party right now who are looking very seriously at running in twenty twenty against donald trump or looking at what it might take to run so what's happening now is at least a dozen probably more people who are sort of high profile members of that group are looking at you know bringing on new people to their team trying to find a way to bolster their campaign oh they're precampaign staff if they do decide to run so that they're in position to run a new way what this looks like is a lot of these folks have said to their chief of staff or to their chief strategist listen i don't know if i'm going to run for president but i want you to do everything you can to put me in position just in case let's see who these dozen.
"chief strategist" Discussed on The Last Word with Lawrence O'Donnell
"What they call a lawyer close to robert moller's investigation a source close to robert mowers investigation which could have been any one of the defence lawyers in the case said that before the release of michael wolves book fire and fury the special counsel's team indicated zero interest in questioning president donald trump's former chief strategist steve bannon in fire and fury steve bannon described this conversation with president trump i said why did you say it was off limits to go after your family's finances and he says well it is i go hey they're going to determine their mandate you may not like it but you just guaranteed if you want to get anybody else in the special counsel slot every senator we'll make him swear that the first thing he's going to do is to come in in subpoena your effing tax returns and he goes that's not their mandate seriously dude and fire and fury steve bannon also said this about donald trump juniors me leading with the russians in trump tower during the presidential election the chance to don jr you did not walk vote these people up to their father's office on the 26 floor is zero said and astonished and derisive bannon today steve bannon met with the house intelligence committee investigators behind closed doors and refused to answer questions related to the transition period and his tenure in the white house the committee including some republicans on the committee are considering possible further steps to get steve bannon to answer questions possibly including contempt of congress charges.
"chief strategist" Discussed on World News This Week
"The baltimorewashington airport received so many diverted flights it's stopped accepting international divergent forcing already diverted planes to land at nearby dc airports railways are affected to amtrak reduce the number of trains operating up and down the northeast corridor there's a new storm brewing in the white house reports that president trump tried to stop is attorney general jeff sessions from recusing himself in the russia investigation coming on the heels of a new tellall book with nasty nuggets from one of the president's closest aides former chief strategist steve bannon abc's cecilia vega has the story the new york times reporting president trump gave firm instructions to the white house his top lawyer to stop his attorney general from recusing himself in the russia investigation saying the president believed it was jeff sessions is job to protect him the paper says after the appointment of special counsel robert muller the president erupted at mr sessions for recusing himself and when sessions his resignation letter the next day the times reports the president rejected it and president trump's determination to fire former fbi director james comey led one white house lawyer to take the extraordinary step of misleading the president about whether he had the authority to remove him that fallout from the russia probe featured in the explosive new book fire and fury despite the president's lawyers demanding author michael wolff and his publisher halt publication instead they moved up the release date saying in a statement we see firing fury as an extraordinary contribution to our national discourse that is not how the white house sees it completely tabloid gossip full of false and fraudulent claims in the book former chief strategist steve bannon is quoted attacking the president and his children sang of daughter ivanka people suddenly realise she's dumb as a brick and calling that now infamous trump tower meeting between donald junior jared.
"chief strategist" Discussed on CNN's The Daily DC
"Every one this is david chaldean the cnn political director and this is the daily dc thanks so much for listening today on the podcast bannon versus trump obviously there is a very public split underway between the present united states and his former chief strategist in the white house his former ceo of his campaign as we discussed in this podcast yesterday the revelations in the michael wolff book a fire and fury of bannon being quoted in interviews with wolf about his perspective and characterisations of the infamous trump tower meeting in june of 2016 with manafort kushner trump junior and the russians e e this obviously exploded to a whole nother level yesterday after we recorded the podcast when the president issued his scathing statement in response and bay and accused steve bannon of losing his mind when he lost his job he lost his mind um and obviously bannon crossed a couple of red lines here with the president one he went after his family which there's been a longsimmering battle between bannon then jared kushner in the von could trump also going after the president's kids never a good idea if you want to stay in the president's good graces um end he touched on the nerve of the thing that consumes president trump more than anything else these days which is the russia investigation and so having that characterization out there from somebody who had a such an a of view inside of trump world in the west wing and in the campaign um.
"chief strategist" Discussed on Bloomberg Radio New York
"Generation that that telegraph has won the its seat in addition to that i would note about the tension between you're absolutely right through dirk crushing because the tension between senate majority leader mitch mcconnell a republican and steve bannon president trump's former chief strategist is palpable to say the least bad at the architect behind the dead morse campaign it is a stunning defeat a deeply deeply conservative state to stunning defeat us state that that that president trump carried it gets hillary clinton easily by double digits easily at so this is a really significant blow to steve bannon and his political coalition and i think a lot of republicans are going to be scratching their heads took are trying to regroup tonight especially as they headed to the two thousand eighteen midterms democrat celebrated tonight to say the least the same with the united states and as expected the federal reserve raised rates this week the fomc also fits forecast for economic growth in 2018 but stuck with its projection for three hikes in the coming year in her last post policy this is a news conference chair janet yellen said the committee expects the labor market remained strong with sustained job creation apple opportunities for workers and rising wages as well but as cranny and i got the thoughts of hated briscoe from ubs asset management then overseas to planning to the tyler ruehe obviously that mrs a lot of the pace the demographics technology those influences on markets one thing i always think about those if you look across to japan they've got record record lows in unemployment and they still consi wedges picking up of growth picking up and they book pricing the same issues are probably worse issues with the graphics for this is just a phenomenon of technology and demographics around the world today and it was still we will have to remember which still globalized things wages are going to go up they can move to other countries around the world so that's going to keep inflation still relatively steady now this year obviously without an influence coming through a coming through from the oil price depreciation coming through beginning to start to paint her out once we get into the.
"chief strategist" Discussed on Bloomberg Radio New York
"Vote republicans are unified on that tax reform plan by any means people like senator susan collins have concerns about it but this puts a lot of pressure on them to get this done before doug jones takes office kevin give us a bit of a sense of how this affects the power dynamics between the administration and players in the senate and the republican party it is a razorthin majority but it is a majority nontheless might this still fire up some other conversations basically the beginning of a domino effect created actually swing the outcome of his tax vote well we're hearing from top democrats already including democratic national committee chairman tom perez who has praised doug jones for his victory it's the first time in more than a generation that that democrat has wanted the set seat in addition to that i would note about the tension between you're absolutely right to your question because the tension between senate majority leader mitch mcconnell a republican and steve bannon president trump's former chief strategist is palpable to say the least bad at the architect behind the dead void morse campaign it is a stunning defeat in a deeply deeply conservative state it's a stunning defeat a state that that that president trump carried against hillary clinton at easily double digits easily so this is a really significant blow to steve bannon and his political coalition and i think a lot of republicans are going to be stretching their heads odds are trying to regroup tonight especially as they headed to the two thousand eighteen midterms democrat celebrated tonight to say the least kevin negative image kevin is a.
"chief strategist" Discussed on KOMO
"I'm jay phillips on komo news hey good morning everybody well a familiar refrain when it comes to our weather yeah what we had yesterday we're going to have today what we have today we're going to have tomorrow sunshine lots of it cold in the morning bundle up afternoon high temperatures should be getting right to about the upper 40s and it does look like the same whether it's going to be around for much much of the weekend as well all right be safe out there there could be some slick spots on the roads we want to make sure you're safe all right they have it in the komo weather center i'm steve pool komal news one thousand fm ninety seven seven reporting the news understanding the new president's former chief strategist steve bannon campaign at a rally for alabama senate candidate roy morgan morris faced tough criticism from some republicans including mitt romney who said he should bow out with the election just days away war more of a man accused of molesting teenage girls promising alabama voters he'll stand sidebyside with president trump we're going to see if the people of our power we'll support the president joining moore who is tonight all i use asians of sexual misconduct president former chief strategist steve bannon if they can destroy roy more they can restore you bed and then unleashing on republicans who have called on more to quit let's talk about another beauty well mitt romney romney tweeted that electee more would be a stay on the gop in on the nation in alabama in slamming romney a mormon for not serving in vietnam.
"chief strategist" Discussed on MSNBC Rachel Maddow (audio)
"Would they tackle him the person said and just in case that's not unsettling enough here's how gave germans peace ends tonight at vanity fair just gonna quote this for them some west wing advisers were worried that trump's behavior could caused the cabinet to take extraordinary constitutional measures to remove him from office several months ago according to to sources with knowledge of the conversation former chief strategist steve bannon told trump that the risks to his presidency wasn't impeachment it was the twentyfifth amendment the provisions by which a majority of the cabinet can vote to remove the president in the event that the president is unable to discharge the powers and duties of his office bannon mentioned the twentyfifth amendment to the president the president reportedly said in response what's that according to a source bannon has told people he thinks trump has only a thirty percent chance of making it through the end of his falter thirty percent chance of making it so that would make it a seventy percent chance that trump's own cabinet could remove him from office because he is unable to serve as president or he'll be impeached or he'll quit or bono i'll be removed from office some other way that's that's being attributed to night to former white house chief strategist steve bannon giving a thirty percent chance of finishing a star now and take that for what you will but bottom line it is not good when that's the general character of the links that are being attributed to the leaks and comments that are being attributed to two current white current west wing staffers and former administration officials and people personally close to the president and people who have served as his top advisers.
"chief strategist" Discussed on C-SPAN Radio
"Channel of course a now very public feud between the republican chair in an early supporter of donald trump senator bob corker and the president yes so steve bannon um as you mentioned chief strategist for president trump intel he was fired a after the arrival of john kelly as chief of staff but nobody really gets fired him trump administration you just go outside of fewer inside and um steve bannon was the third of the the brands it inspiration behind a lot of the presence tactic last fall uh as a candidate and in honesty bannon's approach is on not to cloak himself in republican orthodoxy in stablishment but to blow up the establishment that's always what he's been about in after president trump after donald trump nearly became the nominee in the standard bearer for the republican party i think you know we begin to talk about him colloquially as as the republican nominee in the head of the republican party but uh he's always trying to run a ism brandon's empty bannon helped to shape that president trump has this sort of dual challenge right now which is on how does he shake up these stablishment and also use his party to govern but see been and does not have those constraints and his game has always been chaos his method has always been uh to shake up the orthodoxy of the republican party and replace it with his vision of on what a dominant party in in the country could be and and that's what he's doing here in his enemies at pick this fight with bob corker on as part of a much broader plan to encourage the toppling in primaries of establishments are bedrock republicans and in the replacing of them with uh politicians who were interested in running as republicans in and and blowing up the mold in the leadership structure from the inside an and that's what we see playing out margaret talibs violent can be seen at bloomberg news dot com before we let you go you wear a dual hat as the president of.
"chief strategist" Discussed on WMAL 630AM
"The white house strategist for awhile chief strategist and he was he was with the campaign as well with the trump campaign and he left the white house recently after the john kelly regime came in and sort of took things over and now he's back with breitbart news and he's he's you know in in that role he views an opportunity to be much more effective in sort of advancing the president's agenda as he sees it and the way that he thinks the trump administration should be conducting itself and he's still obviously very supportive of the president he gave this interview to sixty minutes on sunday and we'd we'd played some of the audio for you yesterday so we won't go through all that again but i will mention that yesterday's white house press briefing was dominated by questions about steve bannon so sarah huckabee sanders finally hence the podium she joined she's joined by tom bossert the homeland security adviser gives updates on obama and then she finally gets back and she takes a couple of questions and right away she starts getting questions about bannon here's and the first is this this this one i want to share with you this is this is you know steve bannon said that he thought that in mind in politics it was a historical mistake to fire james call me because that firing is what led to the appointment of the special counsel robert muller here's the white house reacting to that climb we've been pretty clear what our position is and certainly i think that this has been shown in the days that followed that the president was right in firing director comey has since directors firing we've learned new information about his conduct the only provided further justification for that firing including giving false testimony leaking privileged information to journalists who went outside of the chain of command and politicizing investigation into a presidential candidate there you go false testimony leaking information to journalists information rather and you.
"chief strategist" Discussed on KFI AM 640
"The presidency are even recently in terms of being aggressive i making shoe word the united states was separated getting away from our intervention getting away from even staying with the allies pain pulled us out of the tpp said work it only leave nato few remem for that odd nafta he wants to undo completely uh all the treaties between the united states and the western world at is europei or endanger the iran nuclear program in the treaties trying to get out of that desperate leaving though everyone agrees that iran for the most part is bare feet act is maintaining its promise and is a bad deal he's absolutely right but it's been signed and now he wants to abrogated all of that was steve bannon and as bannon uh wealth the problem is the bannon was given the credit for doing a lot of with donald trump and you don't take away the sun sunshine from donald trump i mean the credit goes to him no matter and so that's one issue the other issue is that at in terms of being a chief strategist noone is donald trump's chief strategist bannon went from being tree chief strategist on the campaign trail and donald trump understood that as the the winds were happening as the primaries were going his way and the more you listened to bannon the better he did and that was terrific but even though donald trump is still campaigning he has people around him let's say you know we stopped you're not you're not campaigning anymore and he's at least listen them john kelly mcmaster mathis are saying hey you know what there's there's more than just campaigning and so based on that out goes steve bannon and also general john kelly who is now chief of staff has said okay there is one person that's going to be the gatekeeper and no one is going to go in and see the.
"chief strategist" Discussed on 560 KLZ The Source
"Now i will say at the outset i suppose you can spin this a lot of ways and may be in two or three months you know steve bannon we'll be running some media empire and maybe he'll still be getting along with president trump and helping trump and there are reports that reigns prebus sin steve bannon might be four men some big media firm and or or may be steve bannon we'll go back to breitbart and they'll run breitbart in and breitbart will not be at war with the president and and i've already heard all the talk that you know joe steve bannon can serve the president and better outside the white house this will probably all be for the good eagle pass it'll all work out in a month or two or three or four or five or six may be maybe but i just got to say i don't think there's no other way to slice this steve bannon was fired today and i don't know i mean tune into another show if you want to get the real inside baseball as to how it happened it doesn't really matter to me the most accurate reports i've seen our that that they've known this for a couple of weeks in bandon was ultimately fired and let go this week doesn't matter to me how it happened it's a bad thing it's a bad thing steve bannon president trump's chief strategist has been fired now uh again i want to say at the outset i don't give a damn about rains priebus i don't give a damn about party people rains priebus is let go big deal i i don't care i moved she scare emoji i don't give a damn by guys like that have fire somebody like bannon for president trump to fire somebody like ban it it's a big deal because bannon's not a party guy bannon is an ideology guy in fact you could argue you could make the case i would make the case that steve bannon donald trump's chief strategist is the intellectual has been the intellectual force behind this thing we call america first make america great again so this is not like letting some pencil pusher go this is not like letting some administrative person go this is the guy that the president should go to four advice his chief strategist and that's a question by the way that.
"chief strategist" Discussed on WFEB 1340 AM
"Harada of white house travel together rebel chief strategist were who trump administration accord at the white house surplus share but at the presidential campaign the top secret white house chief of staff retired general john kelly earlier this week adding on the record he attributes the publications including the new york times or he could president trump's controversial club it's a full up of the white supremacy march jim charlottesville virginia adults exit follows the recent departures of two pre business sean spicer our press secretary and yet that he's caramel as communications director roxie withdrawing from the white house the last one point court says former former white house was roundly referring to the website post over the conservatives the work on the trump campaign i've reporting eleven before leaving friday night two boys those account the terrorist attacks of barcelona working people and for at least one hundred other police on the screen beneath ourselves nine young moroccan aren't on the parliamentarians correct the patch the time allowed killed june under attack constant was that the top applause wrong the peace in neighboring i wish to why quit that america but i don't know why that is one of the victims of birth rates term with our commercial hold on wanting to girl was killed on his first trip to europe more than obama and his wife have been celebrating the poorest wedding.
"chief strategist" Discussed on WIBC 93.1FM
"Handed in talks and punk rock in life is the chad benson show president trump's chief strategist steve bannon is now out vat according to administration officials the president the white house they are we're debating how and when to this this the vanity now we have confirmed he will know longer be the chief strategist over at the white house steve bannon sixty three years old is out out out that right there wolf blitzer boyfriend vasbert psa uh today steve bannon out out out out and what did i say may happen if steve bannon was to leave this could potentially be okay for drop or could potentially be bad the new york times is reporting that the weekly standard and then have spoken and that quotes end quote here we go kids here's the quote the trump presidency that we fought for and won is over end of quote joining us now is he does every friday at this time this time via skype to help us put a big blow of fun on the week that was jim kennedy gym man started out not so good this week and it is escalated to bizarre and potentially now maybe even more of a pain in the ass for the trump presidency then a lot of this other stuff now app slowly when you think you've seen it all everything keeps changing so but if there is ever a person in the trump administration that had a sellby date there had an expiration date on them it was steve bannon you knew this was not a guy there was going to make it four years i really hope the guy was renting on a monthtomonth basis because they just don't see him yeah i just didn't see a making his full year lease wherever he was going to be staying nasty ban is a hotel liver man that's what he is that guy was living out of a hotel.
"chief strategist" Discussed on KKAT
"Amused g g e t so bleak sudi proud cumulus eight sixty kkat talk radio for president trump's chief strategist steve bannon correspondent steve kastenbaum who travelled with the president to camp david has details the white house press secretary released a statement saying chief of staff john kelly and steve bannon had mutually agreed today would be steve's last day they said they were grateful for his service and wished him the best correspondent bob costantini has reaction to bannon's ouster the council on american islamic relations quote welcomes the firing of white house chief strategist steve bannon the architect of president trump's muslim ban executive orders in quote center for american progress said the news is welcome but adds quote long before bannon was a member of the administration trump was calling mexicans rapist before bannon trump spent years pushing his racist birther narrative and quote a one word reaction from breitbart editor joel pollak war sources say to cnn that bannon's dismissal had been in the works i'm barbara kusak a california man is among fourteen people killed in a barcelona advantage tack yesterday the father of jerry tucker told the daily news in new york that is wife identified the body at the morgue today jerry tucker in his wife heidi nunez were visiting barcelona for their first wedding anniversary corresponding are were damon reports progress is being made in the investigation the authorities are now saying that they have identified fide all five of the attackers that were killed in a calm grill they're also saying they have identified three of individuals that they have in custody at some members of this terrorist cell to still remain at large secretary of state rex tillerson condemned hate speech as unamerican it was his most extensive comments on race and diversity since last weekend's violence in charlottesville virginia we can do racism but through all it was evil is a bloomberg i'm barbara kusak ladies and gentlemen larry kudlow here so everyone has a problem area right handles air bellies for guys the last piece of loose thomas can for ladies that just never seems.
"chief strategist" Discussed on Monocle 24: The Globalist
"That's right a means really striking has breitbart is affiliated with steve bannon who's one of the chief strategist chief strategist for donald trump and this is where in a trump i think he has he has a serious problem going forward in that the only thing that's keeping him a flurry now says base so he has very strong approval ratings among his base the republican faithful but if he doesn't deliver on policy with a republican majority in the in the house and the senate they're gonna start to turn on him eventually i mean it's going to take a long time because there's so much euphoria over the fact that trump is in office any such a you know an antiestablishment figure but they care about the stuff that he campaigned on so i think that there's going to be a crescendo of conservative media that starts to put more pressure on trump the longer this happens and the more that it becomes apparent that trump trump's loyalty is not the policy that he ran on to himself in his own political survival methods appearance to virtually everyone even many of his diehard supporters that trump will put himself among above almost anything and that he's a person very much driven by ego so when it comes to the special prosecutor the department justice investigation that blinds him to everything else that he worries about from jeff sessions and i don't think he really cares about this other stuff when it conflicts with his own political survival so you know that does he have to does the trump white has have to back down from this said at doesn't seem as if they are going to back down from his confrontation with sessions and you know what impact on his supporters within the that the chorus of of power in of government if if if he does so well this is classic trump damage in the sense that he's basically tossing a grenade into the department of justice without a plan and seen what happens.