Tag Archives: november

Home Buyers Are Paying a $600 Trump Tax on New Mortgages

Mother Jones

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Matt Yglesias tweeted yesterday about mortgage interest rates going up after the election, and that got me curious about just how quickly they spiked upward after we all learned that Donald Trump would be our next president. The chart on the right shows the answer: pretty darn quickly.

On November 8, the average 30-year fixed mortgage was available at a rate of 3.53 percent. Within two days it had gone up 21 basis points, and within a week it had gone up 43 basis points. Adjustable mortgages spiked upward too, though not as dramatically, and both rates continued to drift upward until December 14. Then they spiked upward again thanks to the Fed’s decision to increase interest rates.

So what does this mean for your ordinary working-class joe who voted for Trump? Well, for a 30-year fixed mortgage on a $200,000 loan, the monthly payment has increased from about $900 to $950. That’s an extra $600 per year.

Generally speaking, this spike was due to the fact that everyone panicked after Trump won, causing treasury bond yields to jump 35 basis points in a week. More specifically, however, is it due to China selling US treasuries in greater quantities than usual? Maybe! But whatever the cause, if you waited until after the election to buy a house, you’re paying a pretty stiff Trump penalty.

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Home Buyers Are Paying a $600 Trump Tax on New Mortgages

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Donald Trump Flips Out Yet Again

Mother Jones

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I still wake up each morning thinking it can’t really be true that Donald Trump will be president of the United States in less than eight weeks. I mean, he’s…he’s—he’s a willfully ignorant crackpot. He’s a ridiculous game show host. He’s a five-year-old in a 70-year-old body. He’s addicted to gossip and TV. He’s a trust fund kid who thinks he’s a great businessman. He doesn’t have the attention span to read an actual book. He loves conspiracy theories. And he’s got an ego so fragile it ought to be packed in styrofoam peanuts.

Today, CNN’s Jeff Zeleny said he was looking for evidence that Trump’s allegation of massive voter fraud was true. This instantly sent Trump into a furious tantrum, prompting one of his periodic retweet spasms. Let’s take a look at who he chose to retweet. First up is @HighonHillcrest:

Who is @HighonHillcrest? Earlier today he tweeted that Mitt Romney is the “worst kind of traitor.” A few days ago he wrote this: “When RACIST THUG @angela_rye screams, annoying voice gets higher.” (Don Lemon and Van Jones are also racist thugs. Apparently all blacks on CNN are racist thugs.) And this: “FREEDOM OF RELIGION was meant to apply to religions which do NOT advocate killing non-converts.” Next up is @JoeBowman12:

Who is @JoeBowman12? A few weeks ago he was promoting the conspiracy theory that Bill Clinton has a mixed-race son: “CNN Orders Censorship Blackout on Danney Williams story ( Bill Clinton’s alleged son ) http://Infowars.com/show.” And: “Bill Clinton ‘Son’ Tells Hillary: Step Aside http://www.infowars.com.” And: “Bill Clinton’s ‘son’ Danney Williams conducts his FIRST TV interview LIVE at http://Infowars.com/show – DON’T MISS IT!” Next up is @Filibuster:

Who is @Filibuster? He’s a 16-year-old who lives in Beverly Hills. Next up is @sdcritic:

Who is @sdcritic? Earlier today, in response to the attack at Ohio State, he tweeted: “#IslamIsADeathCult #IslamIsTheProblem #BanMuslimsNotGuns #BanSharia #IslamIsCancer #Muslims did not come to America to be Americans! WAKEUP!” And: “#OhioState: You MUST understand #studentfeed that #Islamists are barbaric 3rd world monsters ruthless subhumans.America has brought this 2U!” Finally, Trump added a last word of his own:

What kind of person is so unhinged that even though he won a presidential election, he goes nuts when he’s reminded that he lost the popular vote and (a) demands that all his minions start writing sycophantic tweets about his historic landslide victory, (b) continues stewing about it anyway and fabricates an allegation of massive voter fraud perpetrated by the Democratic Party, (c) flips out at an anodyne segment from a CNN reporter about his lies, and (d) spends his evening hunched over his smartphone rounding up a motley crew of racists, nutbags, and teenagers to assure him that he’s right?

What kind of person does this? And how easy is it to manipulate someone like this? We have a helluva scary four years ahead of us.

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Donald Trump Flips Out Yet Again

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Donald Trump and the Shiny Object Strategy

Mother Jones

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Is Donald Trump using his Twitter outbursts about the popular vote to distract us from this week’s real news: the vast conflicts of interest between his business empire and his upcoming presidency? This question is getting a lot of attention today.

The answer is no. I mean yes. But no, not really. On the other hand, maybe a little bit yes. I’m sorry, what was the question again?

The real answer is the same as it was during the campaign: Trump is dedicated to creating constant uproars all the time. Is this because it’s just who he is? Or is it part of an instinctive strategy to keep us from ever paying attention to anything for long, aside from the fact that Trump is in the limelight? I can’t say for sure, but I’d put money on the latter.

My belief in this comes mainly from an observation about the campaign: Trump, it turns out, is fully able to focus on something for months at a time if he wants to. And the thing he focused on was “Crooked Hillary” and her emails. That was a constant theme of his campaign, which he hammered on relentlessly for months. And the press assisted, covering every new email revelation—big or small, meaningful or trivial— in blazing headlines on the front page.

And it worked. Sure, he needed a lucky break at the end when James Comey released his letter, but he had set the stage to take advantage of it. This constant drumbeat on a single issue was spectacularly successful.

Trump engaged in a high-risk-high-reward strategy by creating a strong brand identity—for Hillary Clinton. And as any brand manager can tell you, this is crucial. The relentless focus on Hillary Clinton’s email hurt her badly by confirming the sense that she was at least mildly corrupt. Trump’s scandals were different. The press did cover them, but it was something new every week. This didn’t confirm any particular view of Trump aside from his being a bit of a loose cannon. And within a week, each previous scandal was barely remembered. By November, the whole Access Hollywood thing—which was only four weeks old—might as well have been ancient history. It had been practically forgotten.

Donald Trump knows how to focus and he knows how to throw up lots of chaff to keep himself front and center. Does he mean this stuff to be a distraction? Beats me. I suspect it’s all intuitive with him. The only good news is that he can wear out his welcome doing this. In his previous life, that wasn’t a big problem because the press didn’t want to cover him 24/7 anyway. Now they do. He is likely to find that after a few months of this, even his most fervent supporters are a little weary of it.

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Donald Trump and the Shiny Object Strategy

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Donald Trump Claims "Millions Of People Voted Illegally." (They Didn’t.)

Mother Jones

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Oh boy:

This is terrifying on a number of levels. Not only does it further demonstrate that the soon-to-be leader of the free world has a skin as thin as tissue paper, but it highlights the fact that Trump will as president continue to trade in insane conspiracy theories just as he did as a candidate and as a reality show star before that. There is exactly no evidence that “millions of people voted illegally” in the election. None. Zilch. Zero. But Trump doesn’t care.

We’re screwed.

Update: This.

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Donald Trump Claims "Millions Of People Voted Illegally." (They Didn’t.)

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Viral Crap on the Internet, Flint Edition

Mother Jones

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This got retweeted into my Twitter feed today:

My BS detector went off immediately. So I checked, and it turns out this picture was taken 13 months ago, on October 16, 2015:

This is how crap gets spread on the internet. For nearly all households in Flint, the water is fine.

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Viral Crap on the Internet, Flint Edition

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Here’s What Madonna Just Played at Her Surprise Hillary Mini-Rally In New York

Mother Jones

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The one and only Madonna just held a surprise “pop up” mini-rally for Hillary Clinton in New York’s Washington Square Park tonight—singing a 30-minute set to stunned New Yorkers who were either just walking by, or who had seen the mega-star’s tweet and ran from all directions to catch her. Reporter James West dashed to the scene and was able to speak to one bystander, Paul, who attended the event. Here’s what she played tonight:

And if you needed more proof:

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Here’s What Madonna Just Played at Her Surprise Hillary Mini-Rally In New York

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When Bats Look for Meals Near Wind Power, Bats Die

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When Bats Look for Meals Near Wind Power, Bats Die

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Trump Team No Longer Proud of the FBI

Mother Jones

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For months Donald Trump attacked the FBI as a corrupt, rigged organization because it had failed to indict Hillary Clinton. Then, when they announced an ongoing review of some new emails last week, he suddenly declared that he was “very proud” of the FBI. But now they’ve announced that they found nothing new and still have no plans to indict Clinton. What does Trump think of that?

Trump’s handlers have taken away his cell phone, so we don’t know. However, we’ll always have his surrogates, who continue to have access to America’s Agora:

Obviously Comey caved to the Clinton machine and is every bit as corrupt as they thought. Drain the swamp!

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Trump Team No Longer Proud of the FBI

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"Spirit Cooking" Explained for the Non-Insane

Mother Jones

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When I got home from lunch this afternoon, I switched on my tablet to see if anything had happened while I was away. I got this:

If you see a reference to “Spirit Cooking” anywhere, this is what it’s all about. Apparently conservatives have lost whatever few marbles they had left.

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"Spirit Cooking" Explained for the Non-Insane

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A Billionaire Governor Is Using His Own Money to Reinstate the Death Penalty

Mother Jones

On May 20, 2015, the Nebraska state Legislature voted to repeal the state’s death penalty. When the Republican governor, Pete Ricketts, vetoed the legislation six days later, the Legislature overrode his veto. It was an extraordinary move, making Nebraska the first solidly conservative state in more than 40 years to end the death penalty.

But the victory for death penalty opponents was short-lived. Having failed in his role as governor to protect the death penalty, Ricketts worked to reinstate it in a different capacity: As a man of deep pockets. Ricketts and his billionaire father, Republican megadonor Joe Ricketts, spent $300,000 on an effort to collect enough signatures to put the death penalty question to voters, in the form of a referendum on November 8. The governor donated another $100,000 this fall to fund a campaign to sway voters to reinstate the death penalty.

“It’s pretty unusual to have a governor who would lose an initiative through the process then try to reverse that process outside of the role of the governor with his own money,” says state Sen. Colby Coash, a conservative Republican and a leader of the anti-death-penalty effort. “Pretty unprecedented.”

Ricketts’ personal funding of the pro-death-penalty campaign has raised questions about the separation of powers in the state, but also about his political motives. The death penalty is an odd issue for Ricketts to stake so much on because, at least in Nebraska, it’s largely symbolic. The state has not carried out an execution in nearly two decades—and critics believe it will not execute anyone in the foreseeable future because the state is unable to obtain the necessary drugs. (Ricketts’ administration even tried, but failed, to obtain execution drugs illegally from India.)

It’s possible that the governor simply feels passionately about the death penalty, which he has long supported. But Ricketts’ critics think he’s using the death penalty to achieve a different objective: consolidating his own power. Ricketts, they say, wanted the death penalty on the ballot in November as a wedge issue to unseat lawmakers who have defied him over the past year. If Ricketts plays his cards right, he could enter the last two years of his first term as a much more powerful governor. From there, he could run for the US Senate—for which he ran unsuccessfully in 2006—or even the White House. “Certainly he sees himself with a future,” says Paul Landow, a professor at the University of Nebraska-Omaha who specializes in state-level politics. “A national future.”

Within a few months of becoming governor in January 2015, Ricketts was clashing with the Legislature—and losing. The first showdown came over a bill to raise the gas tax to pay for repairs to roads and bridges. Ricketts vetoed the 6-cent-per-gallon hike, and the Legislature overrode his veto. Less than two weeks later, the Legislature overrode another veto, this time over the death penalty. The very next day brought a third override, over a bill to allow driver’s licenses for young immigrants who were granted temporary legal status under President Barack Obama’s 2012 executive action to help children of undocumented immigrants. A year later, the Legislature would override Ricketts’ veto of a bill permitting these same immigrants to obtain professional and commercial licenses.

Ricketts has made no secret of his anger at the legislators who voted against him on those measures. At the state Republican Party convention this spring, he read aloud the names of more than a dozen GOP senators who had crossed him and called for electing Republican senators who do not stray from the party’s platform. (The Legislature is unicameral, but its members are known as senators.) This is a faux pas in Nebraska, where the Legislature is ostensibly nonpartisan, although it’s no secret which members are Republicans and which are Democrats. Thirteen senators, including five Republicans, chastised Ricketts in an open letter for attacking “respected conservatives elected by the people to obey their own convictions and principles, not the governor’s.”

But Ricketts was doing more than lecturing the Legislature. By the time he gave that speech, he had already endorsed a challenger to one of the Republicans who had clashed with him on those vetoes. Later in the summer, he gave his support to another challenger of an incumbent Republican. Meanwhile, Americans for Prosperity and Trees of Liberty, two groups affiliated with the Koch brothers, used a direct-mail campaign to target incumbent Republicans who had defied Ricketts on the vetoes. (The groups are not required to disclose their donors.) After a May primary—Nebraska employs a jungle primary system in which the top two vote-earners face off in the general election—three sitting Republicans are confronting GOP challengers on November 8.

With the death penalty question on the ballot, these challengers are making it a central campaign issue as they try to oust sitting Republicans who voted to repeal it. They’re “trying to ride it to election,” says state Sen. Mike Gloor, a Republican who voted to repeal the death penalty. Vincent Powers, the head of the state Democratic Party, puts it more bluntly. “Ricketts just wants to impose his will on the Legislature, and so he’s using this emotional issue as a club,” he says. “It’s very troubling if you are like me and you think democracy is a good thing.”

The fact that the repeal effort succeeded at all was something of a miracle. For decades, state Sen. Ernie Chambers, a liberal independent who has served in the Legislature since the 1970s, has unsuccessfully introduced a bill to abolish the state’s death penalty. But in 2015, with a large freshman class open to arguments against the death penalty, a few conservatives in the Legislature took up the cause as well.

By all accounts, Nebraska’s death penalty is a failure. The last execution in the state took place in 1997, but the state continues to spend $14.6 million a year on costs related to maintaining the death penalty, according to a study commissioned by the state’s anti-death penalty coalition. The legislators who voted to repeal it had come to believe that the death penalty was not just a financial loser but also bad policy that was unfairly applied, used to coerce suspects into pleading guilty, and capable of putting innocent people to death.

As the death penalty fight moved from the Legislature to the ballot initiative, a coalition of conservatives, liberals, and the Catholic Church came together to fight to retain the repeal. The coalition has spent more than $2.5 million on voter education efforts, canvassing, and TV ads—far more than its pro-death-penalty counterpart has spent.

Even with the active backing of the Nebraska Catholic Conference in the heavily Catholic state, the consensus is that a popular referendum on the death penalty in a deep-red state is a heavy lift. But there are a few wild cards that could help the anti-death penalty side in a close contest. The first is the language on the ballot itself, which could confuse some death penalty supporters, who need to vote “repeal” to reverse the existing death penalty ban. When the ballot language was finalized, the coalition opposing the death penalty quickly changed its name to Retain a Just Nebraska so that death penalty opponents would know to vote “retain” to keep the ban.

The second big question is turnout. Nebraska does not have a governor’s race or a US Senate race this year, leaving the presidential race as the main draw for voters to get to the polls. But Nebraska, though deeply conservative, is not exactly Trump territory. Ricketts endorsed Trump after his first choice, Ted Cruz, dropped out of the primary, but he has not donated to Trump’s campaign; his wife, meanwhile, registered as a Democrat and is supporting Hillary Clinton. Both of the state’s Republican US senators have spoken out against Trump: Ben Sasse is perhaps the most prominent Never Trump Republican in the country, while Deb Fischer unendorsed him after the infamous 2005 Access Hollywood video was leaked in early October. (She later re-endorsed him.) “I think there’s a legitimate chance that the Legislature will be held up,” Coash says hopefully. “It all comes down to turnout.”

Most politicians and analysts predict the repeal will be overturned because Nebraska is such a conservative state. “I would be absolutely shocked if the voters basically supported to keep the repeal of the death penalty,” says Aaron Trost, a Republican operative who ran Fischer’s campaign in 2012. In August, the pro-death-penalty group released a poll showing that 2 out of 3 Nebraskans support the death penalty. Dan Parsons, the spokesman for the anti-death-penalty group, has argued that the poll was “flawed.” Unlike the poll, the referendum states that if the death penalty repeal stands, defendants who would otherwise have received a death sentence would instead get life in prison. Previous polling has shown that when life without parole is mentioned as the alternative to the death penalty, some Americans switch from death penalty support to opposition.

“We’ve outworked them and outmaneuvered them for over a year now,” Parsons says. As of early October, according to campaign finance disclosures, the anti-death-penalty group had raised $2.7 million to the pro-death-penalty group’s $1.2 million—and most of the latter funds were spent gathering signatures to put the issue on the ballot.

The anti-death penalty group received big donations from liberal philanthropic organizations. Major contributors to the pro-death penalty group include Pete and Joe Ricketts and billionaire Republican donor Robert Mercer, as well as two national dark-money groups. One of those groups, Citizens for a Sound Government, spent money on Ricketts’ behalf during his 2014 primary. It’s unclear who is behind the groups’ money or why outside groups see fit to invest in the death penalty in Nebraska. One possibility is that they’re investing in something else: Ricketts’ broader conservative agenda and his career, perhaps on the national stage.

“Should the ballot initiative lose, that would be a big blow to him,” says Landow, the political scientist. “So it’s a gamble. And he took it, I think, because he calculated that it was worth it in terms of his future national standing.”

Continued – 

A Billionaire Governor Is Using His Own Money to Reinstate the Death Penalty

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