Occupy Banksters & Crony Capitalism & GREED

MAGA's mutually assured destruction
Axios | Zachary Basu | 06/06/25

To honor the end of Elon Musk's "incredible" government service, President Trump presented his friend, adviser and billionaire benefactor with a golden key to the White House.

Six days later, Musk lit the place on fire.

Why it matters: The most powerful civilian ever has effectively declared war on the president of the United States, incinerating their relationship - at least for now - in one of history's most extraordinary political meltdowns.

The long-predicted rupture built over months, but exploded in hours - unfolding in real time in the Oval Office, on Truth Social, and above all, on X.

The consequences were tectonic, shaking the foundations of a MAGA-tech coalition that has mapped out grand ambitions for Trump's second term.

Catch up quick: Tensions have simmered all week over Musk's scathing criticism of Trump's budget-busting tax bill, which is projected to add trillions to the national debt. ... ... ... Read more

Germany's Merz enters Trump's Oval Office ring
Axios | Avery Lotz | 06/05/25

German Chancellor Friedrich Merz on Thursday will enter President Trump's televised Oval Office stage, where world leaders before him have been ambushed, scolded and sent home without lunch.

The big picture: Under Trump 2.0, the Oval Office has become a danger zone for world leaders, who at the very least are subject to a series of on-camera spectacles — and at the worst, a full-blown attack.

South African President Cyril Ramaphosa's Washington visit took a dark turn when Trump told an aide to dim the lights before presenting a compilation of clips to back the false allegations of a "white genocide" in South Africa.

Much of what Trump said and showed was inaccurate or debunked, Axios' Russell Contreras reported. ... Read more

Trump's Plan To Surveil America | Leeja Miller | 06/04/25 | 20:27

Trump and Xi hold call, fresh meetings planned soon
Axios | Dave Lawler, Ben Berkowitz | 06/05/25

President Trump and Chinese President Xi Jinping spoke about trade issues for more than an hour Thursday, and Trump said teams from both sides would meet again soon.

Why it matters: Washington and Beijing have accused each other of violating the 90-day trade truce reached three weeks ago, under which both dramatically lowered tariffs and promised further dialogue.

What they're saying: "There should no longer be any questions respecting the complexity of Rare Earth products. Our respective teams will be meeting shortly at a location to be determined," Trump posted on Truth Social.

Rare earth minerals have been a key sticking point in the fractious relationship.

China is reportedly withholding exports, angering the Trump administration and potentially compromising high-tech supply chains. ... ... ... Read more

Trump admired Ukraine's "badass" attack, but worries what's next
Axios | Marc Caputo, Barak Ravid | 06/05/25

President Trump thought Ukraine's surprise drone attack over the weekend was "strong" and "badass," sources who discussed it with him tell Axios, but he's also concerned it will make his ceasefire mission even harder.

Why it matters: The meticulously planned operation on Russia's most strategic air bases - conducted remotely from thousands of miles away - suggested Ukraine has more "cards" than Trump gave them credit for, but also effectively dared Russian President Vladimir Putin to escalate in return.

Trump said Wednesday that Putin had told him "very strongly" that he'd be hitting back. "It was a good conversation, but not a conversation that will lead to immediate peace," Trump said of their call.

He has been surprisingly mum in public when it comes to his personal feelings about Ukraine's attack. In private, though, he marveled at the operation. ... Read more

Behind the Curtain: Your AI survival kit
Axios | Jim VandeHei,Mike Allen | 06/04/25

Today is the Axios AI+ Summit in New York, starting at 2:30 p.m. ET, with top guests from business, science, entertainment and government. Watch the livestream.

Anthropic CEO Dario Amodei's warning in our column last week about a looming AI-driven white-collar job apocalypse ignited a national conversation that pulled in everyone from former President Obama to President Trump's AI czar.

Critics saw the warning as alarmist, saying the "doomer" attitude fails to account for the new jobs and economic riches AI might shower on the U.S. public.

On the flip side, Obama and others saw the interview as vital truth-telling - a clear-eyed warning that government and companies should consider deeply and urgently. ... Read more

"Empire of AI": Karen Hao on How AI Is Threatening Democracy & Creating a New Colonial World | DN | 06/04/25 | 17:18

Trump asks Congress to pull $9B in funding for NPR, PBS, foreign aid
Axios | Stef W. Kight | 06/04/25

President Trump formally asked Congress on Tuesday to rescind $9.4 billion in already approved funding for foreign aid and the Corporation of Public Broadcasting (CPB), which funds NPR and PBS.

Why it matters: The rescissions package is an attempt to codify DOGE-driven cuts amid a wider push from the Trump administration to target news organizations perceived to be biased against Republicans.

NPR and PBS are suing the administration after Trump signed an executive order last month that directed CPB to "cease direct funding" for the two biggest public broadcasters in the U.S., which he called "biased." ... ... ... Read more

How Trump is using his power to profit and why no one will stop him | Washington Week PBS | 06/01/25 | 16:56

Trump makes Powell the fall guy of his trade war
Axios | Courtenay Brown,Neil Irwin | 06/04/25

In case there were any doubt, Wednesday's developments put them to rest.

If the economy starts to seriously buckle due to the trade war, President Trump will blame the Federal Reserve and its leader, Jerome Powell.

The big picture: Trump has made no secret that he thinks the Fed should be proactively cutting interest rates to ease the pain of any economic bumps ahead - despite the inflation risk also fueled by tariffs.

Wednesday brought some new evidence that there are, indeed, bumps ahead.

Driving the news: The private sector added just 37,000 jobs in May, payroll processor ADP said - down from the 60,000 jobs added in April and well below the 110,000 jobs economists anticipated.

It was the second straight month of soft hiring in the ADP data - but this time, Trump noticed. ... Read more

Ukraine's drone triumph opens window to the future of war
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Axios | Zachary Basu | 06/03/25

"You don't have the cards," President Trump dismissively told Ukrainian President Volodymyr Zelensky during their Oval Office blow-up in February.

Three months later, Zelensky played a hand no one saw coming.

Why it matters: Ukraine's audacious drone operation, which destroyed nuclear-capable bombers deep inside Russian territory, delivered a strategic gut punch to Russian President Vladimir Putin.

Ukraine is calling it "Operation Spiderweb." Pro-Kremlin bloggers are calling it "Russia's Pearl Harbor." Military experts are calling it a new nightmare for national defense.

All can agree: Ukraine's ingenious use of low-cost drones has vast implications not only for the future of this war — but for the future of all war.

Zoom in: Zelensky said the attack involved "one year, six months, and nine days from the start of planning to effective execution." Ukrainian intelligence operatives prepared inside Russia for months undetected, he added.

The targets were five Russian bases thousands of miles from Ukraine and from one another. Unknown to the Russian forces manning those bases, Ukraine managed to position dozens of drones nearby. ... Read more

America's two realities
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Axios | Avery Lotz | 06/03/25

Republicans see a U.S. in bloom.
Democrats see one shadowed in gloom.

By the numbers: Overall, 38% of Americans are satisfied with the way things are going in the country, according to a May 1-18 Gallup poll. That number, which sat at just 20% in January, has climbed - thanks to a massive surge in Republican satisfaction.

79% of Republicans say they're satisfied, near the record high for the party. In January, that number was just 10%.

The outlook for Dems is bleak, with just 4% satisfaction. ... Read more

Behind the Curtain: Trump's America-First AI risk
Axios | Jim VandeHei, Mike Allen | 06/02/25

The two most durable and decisive geopolitical topics of the 2020s are fully merging into one existential threat: China and AI supremacy.

Put simply, America either maintains its economic and early AI advantages, or faces the possibility of a world dominated by communist China.

Why it matters: This is the rare belief shared by both President Trump and former President Biden - oh, and virtually every person studying the geopolitical chessboard.

David Sacks, Trump's AI czar, said this weekend on his podcast, "All-In": "There's no question that the armies of the future are gonna be drones and robots, and they're gonna be AI-powered. ...

The big picture: That explains why the federal government has scant interest in regulating AI, why both parties are silent on AI's job threat, and why Washington and Silicon Valley are merging into one superstructure. It can all be traced to China. ... Read more

Trump's Truth posts mix wild conspiracies with market-moving policies
Axios | Avery Lotz | 06/02/25

President Trump's Truth Social account is full of jarring juxtapositions: major trade policy announcements and presidential nominations broken up by bizarre conspiracies and personal boasts.

Why it matters: The president's words matter, whether he's moving markets with tariff threats or spreading unfounded conspiracies about his political rivals, and the White House has mimicked Trump's bellicose online persona.

Emboldened in his second term, Trump has surrounded himself with conspiracy theorists and posts without restraint.

Driving the news: The president late on Saturday shared an outlandish conspiracy from another user who said that former President Biden had been "executed in 2020" and was replaced by clones or robots.

Trump shared the post to his nearly 10 million followers with no context. ... Read more

Weather tracker: Nigeria hit by deadly flooding described as 'worst in 60 years'
TheGuardian | Faye Hulton | 06/02/25

At least 150 people killed, thousands displaced and buildings destroyed after heavy rains in north of country

Significant flooding affected Nigeria last week, with more than 150 deaths reported so far. Heavy rain struck the north of the country on Wednesday night and continued into Thursday, leading to flooding along the Niger River, displacing thousands and destroying hundreds of homes. The district head said it was the region’s worst flood in 60 years.

Heavy rain is not unusual at this time of year in Nigeria. The country has a tropical climate and is influenced by the west African monsoon, with the wet season running from April until October. This type of seasonality is linked to land-sea temperature differences, alongside the shifting intertropical convergence zone (ITCZ), a band of low pressure roughly around the equator that shifts north and south with the angle of the sun. ... Read more

Now what? Tariff ruling creates chaos on top of chaos
Axios | Ben Berkowitz,Courtenay Brown | 05/29/28

An obscure federal court blew up the cornerstone of President Trump's economic agenda last night, unleashing more chaos on the global economy and all but wiping out his negotiating leverage with trading partners.

Why it matters: At least for now, it turns out the legal system - not the bond market, nor weak economic indicators - is the biggest restraint on Trump's trade agenda.

Zoom in: A three-judge panel of the Court of International Trade - Reagan, Obama and Trump appointees - ruled that Trump does not have the authority to impose sweeping tariffs under 1970s-era emergency legislation.

In fact, the judges said an injunction wasn't enough - they issued a summary judgment invalidating and blocking almost all of Trump's trade levies to date. ... ... ... Read more

Trump's $2 Trillion Gulf Tour BACKFIRES - Canada Finds a Better Deal and Walks! Electric Vehicles | Piston Pundit | 05/27/25 | 9:22

China's biotech boom leaves U.S. playing catch-up
Axios | Adriel Bettelheim,Maya Goldman | 05/29/25

China is now setting the pace in life sciences R&D, conducting more clinical trials than the U.S. and licensing new discoveries to American companies.

The big picture: China has become a linchpin in global drug development, the result of a decade-long national strategy to develop a biopharmaceutical industry.

Where it stands: China has surpassed the U.S. in drug clinical trials, per a report from GlobalData, marking a turning point in the global race to dominate the life sciences.

An independent, bipartisan commission told Congress last month that China is beating the U.S. in advanced biotech and that policymakers need to pour significant resources into the sector over the next five years to keep up. ... Read more

Trump & The Press: Last Week Tonight with John Oliver | John Oliver | 05/22/25 | 28:29

The Truth About Barron Trump, Harvard and Melania | The Daily Beast | 05/28/25 | 26:27

Robot industry split over that humanoid look
Axios| Joann Muller | 05/27/25

Advanced robots don't necessarily need to look like C3PO from "Star Wars" or George Jetson's maid Rosie, despite all the hype over humanoids from Wall Street and Big Tech.

In fact, some of the biggest skeptics about human-shaped robots come from within the robotics industry itself.

Why it matters: Robots are meant to take over dirty, dangerous and dull tasks - not to replace humans, who are still the most sophisticated machines of all.

The big picture: Morgan Stanley believes there's a $4.7 trillion market for humanoids like Tesla's Optimus over the next 25 years — most of them in industrial settings, but also as companions or housekeepers for the wealthy.

Yes, but: The most productive - and profitable - bots are the ones that can do single tasks cheaply and efficiently. ... Read more

Behind the Curtain: A white-collar bloodbath
Axios | Jim VandeHei,Mike Allen | 05/28/25

Dario Amodei - CEO of Anthropic, one of the world's most powerful creators of artificial intelligence — has a blunt, scary warning for the U.S. government and all of us:

AI could wipe out half of all entry-level white-collar jobs - and spike unemployment to 10-20% in the next one to five years, Amodei told us in an interview from his San Francisco office.

Amodei said AI companies and government need to stop "sugar-coating" what's coming: the possible mass elimination of jobs across technology, finance, law, consulting and other white-collar professions, especially entry-level gigs.

Why it matters: Amodei, 42, who's building the very technology he predicts could reorder society overnight, said he's speaking out in hopes of jarring government and fellow AI companies into preparing - and protecting - the nation. ... Read more

What America is losing as President Trump fires independent government watchdogs| 60 Minutes | 03/28/25 | 13:19

GOP declares war on GAO
Politico | Jennifer Scholtes | date

The independent Government Accountability Office has served Congress as the nation's chief investigator of wrongdoing at federal agencies for more than a century. Now it's under assault.

The typically uncontroversial, under-the-radar agency is fighting to retain power against attempts by Republicans in the Trump administration and on Capitol Hill to undercut its legal conclusions and independence - an onslaught that has been fast and furious.

First, Elon Musk's Department of Government Efficiency contacted GAO to assign a downsizing team there, despite the agency being housed within the legislative branch and therefore not subject to an executive order granting DOGE access to most other federal operations.

Then, last week, Senate Republicans disregarded GAO guidance and nixed waivers allowing California to set its own pollution standards, even after the watchdog concluded that the Senate couldn't do that under a simple-majority threshold. ... Read more

Trump threatens "straight 50%" tariff on European Union
Axios | Courtenay Brown | 05/23/25

The President Trump threatened to slap 50% tariffs on imports from the European Union early next month in a post on Truth Social on Friday.

Why it matters: The move would escalate global trade tensions after weeks of the White House signaling progress on trade talks.

Trump's sweeping import levies have spooked financial markets and raised recession fears globally.

What they're saying: "I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States," Trump posted on Truth Social.

Trump suggested that trade negotiations with the European Union, which is currently subject to a 10% tariff, had not been productive. ... Read more

We're Experts in Fascism. We're Leaving the U.S. | NYT Opinion | 05/18/25 | 6:53

ALMOST UNWATCHABLE: Warren Literally Reads Off Rule Word-By-Word To Trump IRS Commissioner Nominee | Forbes | 05/20/25 | 6:58

'Our superpower': Trump confronted by diverse, robust pushback on 'a million' different fronts | Rachel Maddow/MSNBC | 05/21/25 | 9:32

'Met Gala of pay-for-play': Trump crypto dinner is brazenly corrupt, says Hayes | MSNBC/Hayes | 05/22/25 | 8:27

Google's new AI video tool floods internet with real-looking clips
mAxios | Megan Morrone | 05/23/25

Google's newest AI video generator, Veo 3, generates clips that most users online can't seem to distinguish from those made by human filmmakers and actors.

Why it matters: Veo 3 videos shared online are amazing viewers with their realism - and also terrifying them with a sense that real and fake have become hopelessly blurred.

The big picture: Unlike OpenAI's video generator Sora, released more widely last December, Google DeepMind's Veo 3 can include dialogue, soundtracks and sound effects. ... Read more

House passes Trump's "big, beautiful bill" after tense GOP talks
Axios | Andrew Solender | 05/22/25

The House voted Thursday to pass President Trump's "big, beautiful bill" after weeks of Republican infighting that repeatedly threatened to tank the GOP-only legislation.

Why it matters: It's a major step toward getting the hulking fiscal package signed into law, though the Senate is likely to make substantial changes that could be difficult for House GOP hardliners to swallow.

The vote was 215-214. Two Republicans - Thomas Massie of Kentucky and Warren Davidson of Ohio - joined Democrats in voting "no," while Andy Harris of Maryland voted present.

The big picture: The bill would extend the 2017 Trump tax cuts and aims to cut $1.5 trillion in federal spending, including through Medicaid work requirements and the repeal of the Inflation Reduction Act tax credits. ... Read more

Americans support unions over big companies by a record-high margin
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Axios | Emily Peck | 05/22/25

The popularity of labor unions surged over the past decade, while American sentiment toward big business has fallen, according to new data published by the liberal Economic Policy Institute.

Why it matters: The approval switcheroo helps explain, in part, why the Republican Party has been courting labor unions in recent years.

Zoom in: For the past 60 years, American National Election Studies has been surveying Americans, asking them to rate their feelings toward labor unions and big business.

Up until 2012, sentiment moved together, but in the recovery from the Global Financial Crisis things changed.

Zoom out: After the pandemic, public support for labor unions and workers increased even more. ... Read more

'White supremacists in suits and ties': the rightwing Afrikaner group in Trump's ear
TheGuardian | Chris McGreal | 02/14/25

Donald Trump's offer of political asylum to South Africa's white minority, just days after blocking genuine refugees from travelling to the US, followed years of campaigning by an Afrikaner group that has promoted "white genocide" conspiracy theories while also lobbying on behalf of Elon Musk's business interests.

Last week, Trump issued an executive order that misrepresented a new South African law, the Expropriation Act, as a racist move to persecute white Afrikaners by seizing their farms without compensation.

The law is intended to address deep inequalities as the result of apartheid and colonial legislation that resulted in the white minority, who make up just 7% of South Africa’s population, still owning more than 70% of agricultural land more than three decades after the end of the apartheid system imposed by the Afrikaner-dominated government. It permits expropriation in exceptional circumstances, such as abandoned land, but generally requires "just and equitable" compensation. ... Read more

Trump's FEMA risks "flying blind" into hurricane season
Axios | Natalie Daher | 05/21/25

President Trump's campaign to dismantle FEMA is on the verge of a high-stakes stress test, as the U.S. hurtles toward peak disaster season under uniquely dangerous conditions.

Why it matters: Extreme weather is growing deadlier and more destructive. But instead of strengthening the systems that help states respond, the Trump administration is gutting FEMA, banning climate change research and urging governors to go it alone.

State of play: With less than two weeks until the start of Atlantic hurricane season, leaks from inside the government continue to suggest that FEMA is understaffed, underfunded and underprepared.

Acting FEMA head Cameron Hamilton was fired earlier this month after testifying to Congress that eliminating the agency - as Trump has called for - is not "in the best interests of the American people."

His successor, David Richardson, has no experience managing natural disasters and acknowledged in private meetings that the agency doesn't yet have a fully formed hurricane response plan, the Wall Street Journal reported. ... Read more

Trump's $4 trillion deficit bomb
Axios | author | date

President Trump yesterday declared himself the biggest "fiscal hawk" in Washington.

He then spent the next hour urging Republicans to unite behind the most budget-busting legislation in modern U.S. history.

Why it matters: Trump's "big, beautiful bill" is projected to add trillions to the deficit over the next decade - rattling conservatives who have long warned that the U.S. is barreling toward fiscal catastrophe.

Some Republicans now find themselves trapped between two of the party's most animating principles: Deficit reduction vs. absolute loyalty to Trump.

That tension is threatening to derail Trump's vision for a new "Golden Age," which the White House hopes will begin in earnest with a vote on the House floor this week. ...

Trump Unveils Plans for 'Golden Dome' Missile Defense System
NYT | Erica L. Green | 05/20/25

The project has been a priority for Mr. Trump since he took office. He promised during the campaign to build a defense system against foreign attacks similar to Israel's Iron Dome, with air defense capabilities that intercept rockets and missiles.

The United States is more than 400 times larger than Israel.

Mr. Trump has said the project will cost $175 billion, although the Congressional Budget Office said it would likely cost far more, as much as $542 billion. The president said on Tuesday that the Golden Dome would get $25 billion in funding from his tax cut and spending bill, which has yet to pass Congress. ... Read more
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Tesla, SpaceX reputations crater in new Axios Harris Poll 100
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Axios | Dan Primack | 05/20/25

Tesla Motors and SpaceX saw their brand reputations crater in the past year, according to new Axios Harris Poll 100 survey results.

Why it matters: Elon Musk's polarizing political activism appears to have come at the expense of his largest companies, as Republicans expressed more favorable opinions than did Democrats.

By the numbers: Tesla was in 8th place in the 2021 reputation ranking of America's 100 most visible companies, but last year tumbled to 63rd and now is near the very bottom at 95th.

It placed dead last in "character," while placing near the bottom in areas like "ethics" and "citizenship."

Six other automakers place higher, with the highest being Toyota at No. 6 and the lowest being Ford at No. 62. ... Read more

Trump's deference to Putin stunned European leaders on call
Axios | Barak Ravid,Dave Lawler | 05/20/25

Ukrainian President Zelensky and five other European leaders joined a conference call with President Trump immediately after his call with Vladimir Putin on Monday hoping to hear that Putin had agreed to a ceasefire - or the U.S. would impose penalties on him for refusing to do so.

Instead, Trump said Putin had agreed to negotiate, stressed the U.S. wouldn't be involved in those negotiations, and pushed back against the idea of imposing sanctions on Putin at the current time, two sources who were on the call and a third source briefed on the call told Axios.

Why it matters: Trump gave the impression he was getting closer to withdrawing from the issue altogether. Some leaders on the call seemed "surprised" or "shocked," the sources said. ... Read more