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Nikkytix

15 Jun 2025 - 03:52 pm

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15 Jun 2025 - 03:47 pm

WASHINGTON — “Liberation Day” just gave way to Capitulation Day.
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President Donald Trump pulled back Wednesday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.

Trump's early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.

Follow live politics coverage here
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The stock market rose immediately after the about-face, ending days of losses that have forced older Americans who've been sinking their savings into 401(k)s to rethink their retirement plans.

Ahead of Trump's announcement, some of his advisers had been in a near panic about the bond markets, according to a senior administration official. Interest rates on 10-year Treasury bonds had been rising, contrary to what normally happens when stock prices fall and investors seek safety in treasuries. The unusual dynamic meant that at the same time the tariffs could push up prices, people would be paying more to buy homes or pay off credit card debt because of higher interest rates. Businesses looking to expand would pay more for new loans.
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Two of Trump's most senior advisers, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, presented a united front Wednesday, urging him to suspend the tariffs in light of the bond market, the administration official said.

In a social media post, Trump announced a 90-day pause that he said he’ll use to negotiate deals with dozens of countries that have expressed openness to revising trade terms that he contends exploit American businesses and workers. One exception is China. Trump upped the tariff on the country’s biggest geopolitical rival to 125%, part of a tit-for-tat escalation in an evolving trade war.

Trump reversed course one week after he appeared in the Rose Garden and unveiled his plan to bring jobs back to the United States. Displaying a chart showing the new, elevated tariffs that countries would face, Trump proclaimed, “My fellow Americans, this is Liberation Day.”
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Kevinusask

15 Jun 2025 - 03:37 pm

President Donald Trump wants to bring back American manufacturing in ways that would reshape the United States economy to look more like China’s. The campaign, which has led to a rapidly escalating trade war with China, has given ample social media fodder to Chinese and American observers alike.
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Announcing a series of sweeping tariffs in a move dubbed “Liberation Day,” Trump said last week that it will lead factories to move production back to American shores, boosting the U.S. economy after “foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream.”
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In a Truth Social post Wednesday, Trump announced that he is raising tariffs on goods imported from China to 125%, up from the 104% that took effect the same day, due to “the lack of respect that China has shown to the World’s Markets.” Higher targeted tariffs on other countries have been paused for 90 days, although the 10% baseline tariff will remain in place for all countries.
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Meme-makers and Chinese government officials have in recent days begun pointing out the irony of Trump’s tariff-driven manufacturing pivot through AI-generated satire and political cartoons that have percolated online, with many American users boosting the jokes.
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Toddytix

15 Jun 2025 - 03:20 pm

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15 Jun 2025 - 02:52 pm

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Michaelcix

15 Jun 2025 - 01:27 pm

There’s a ‘ghost hurricane’ in the forecast. It could help predict a real one
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A scary-looking weather forecast showing a hurricane hitting the Gulf Coast in the second half of June swirled around social media this week—but don’t panic.

It’s the season’s first “ghost hurricane.”

Similar hype plays out every hurricane season, especially at the beginning: A cherry-picked, worst-case-scenario model run goes viral, but more often than not, will never come to fruition.

Unofficially dubbed “ghost storms” or “ghost hurricanes,” these tropical systems regularly appear in weather models — computer simulations that help meteorologists forecast future conditions — but never seem to manifest in real life.

The model responsible this week was the Global Forecast System, also known as the GFS or American model, run by the National Oceanic and Atmospheric Administration. It’s one of many used by forecasters around the world.

All models have known biases or “quirks” where they tend to overpredict or underpredict certain things. The GFS is known to overpredict tropical storms and hurricanes in longer-term forecasts that look more than a week into the future, which leads to these false alarms. The GFS isn’t alone in this — all models struggle to accurately predict tropical activity that far in advance — but it is notorious for doing so.

For example, the GFS could spit out a prediction for a US hurricane landfall about 10 days from now, only to have that chance completely disappear as the forecast date draws closer. This can occur at any time of the year, but is most frequent during hurricane season — June through November.

It’s exactly what’s been happening over the past week as forecasters keep an eye out for the first storm of the 2025 Atlantic hurricane season.
Why so many ghosts?
No weather forecast model is designed in the exact same way as another, and that’s why each can generate different results with similar data.

The reason the GFS has more false alarms when looking more than a week out than similar models – like Europe’s ECMWF, Canada’s CMC or the United Kingdom’s UKM – is because that’s exactly what it’s programmed to do, according to Alicia Bentley, the global verification project lead of NOAA’s Environmental Modeling Center.

The GFS was built with a “weak parameterized cumulus convection scheme,” according to Bentley. In plain language, that means when the GFS thinks there could be thunderstorms developing in an area where tropical systems are possible – over the oceans – it’s more likely to jump to the conclusion that something tropical will develop than to ignore it.

Other models aren’t built to be quite as sensitive to this phenomenon, and so they don’t show a tropical system until they’re more confident the right conditions are in place, which usually happens when the forecast gets closer in time.

The western Caribbean Sea is one of the GFS’ favorite places to predict a ghost storm. That’s because of the Central American gyre: a large, disorganized area of showers and thunderstorms that rotates over the region and its surrounding water.

Ronnievow

15 Jun 2025 - 01:25 pm

Elon Musk stood next to President Donald Trump in the Oval Office on Friday, but the physical proximity belied a growing philosophical divide between two of the world's most powerful men, resulting in the tech mogul's abrupt announcement that he is departing Washington — without having achieved his goal of decimating the federal government.
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Trump took a more charitable view of Musk's tenure during a sprawling news conference in which he also declined to rule out pardoning Sean "Diddy" Combs, who is on trial on charges of sex trafficking and other alleged crimes; said he dislikes "the concept" of former first lady Jill Biden being forced to testify before Congress about her husband's mental fitness; and predicted again that Iran is on the cusp of making a deal that would suspend its pursuit of nuclear weapons.
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In a battle of plutocrats against populists, Bannon, a longtime advocate for reducing the size and scope of government, found Musk's methods and policy preferences to be sharply at odds with those of the MAGA movement. So, ultimately, did Musk, who broke with Trump repeatedly on agenda items as narrow as limiting visas for foreign workers and as broad as Trump's signature "big beautiful" budget bill — which Musk belittled for threatening to add trillions of dollars to the national debt.

“I was, like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decrease it, and undermines the work that the DOGE team is doing," Musk said in an interview with CBS' "Sunday Morning," which will air this weekend.
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"I love the gold on the ceiling," he said.

Musk has argued that inertia throttled his efforts to reduce government spending — a conclusion that raises questions about whether he was naive about the challenge of the mission he undertook.

“The federal bureaucracy situation is much worse than I realized,” he told The Washington Post this week. “I thought there were problems, but it sure is an uphill battle trying to improve things in D.C., to say the least.”

On Friday, he drew an implicit parallel between American government and the Nazi regime that committed a genocide, invoking the "banality of evil" that Hannah Arendt used to describe the atrocities in Germany.
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15 Jun 2025 - 12:57 pm

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15 Jun 2025 - 11:56 am

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15 Jun 2025 - 11:07 am

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