The Trump criminal fraud trial is nearing the end. Here are the big stories from what was likely the second-to-last day of testimony:
If testimony does indeed conclude today, then it is likely that closing statements will not be given until next Tuesday. The trial is dark on Wednesdays, of course, while the Friday session has been canceled because a juror has to travel, and Monday is a holiday. Merchan doesn't want the jury to hear closing statements on Thursday, and then have to remember them for 4 days (Friday, Saturday, Sunday, Monday), hence the (likely) decision to push everything to Tuesday of next week. (Z)
When it comes to the Middle East, the last few days have witnessed some pretty big developments. Here are the four that have, or could have, a direct impact on American politics:
The ICC prosecutor's application for arrest warrants against Israeli leaders is outrageous. And let me be clear: whatever this prosecutor might imply, there is no equivalence—none—between Israel and Hamas. We will always stand with Israel against threats to its security.We understand the ICC wanted to make a statement, but maybe they would have been better off saying and doing nothing.
And that's the latest from everyone's favorite corner of the globe. (Z)
Fundraising reports for April are in, and the question of which major-party candidate is doing the best has gotten a bit more hazy.
The good news for Donald Trump is that he had a better April than Joe Biden, as he and his affiliated PACs brought in $76 million as compared to $51 million for Biden and HIS affiliated PACs. However, that comes with a couple of caveats. First, $50.5 million of the $76 million came from that chichi Palm Beach fundraiser. Second, Trump has not reported his cash-on-hand total. There is no question it will be lower than Biden's ($192 million). And since Trump has a very high burn rate, it's probably way lower. And that might not be a big problem if Trump was spending the money in a constructive manner. However, as we noted yesterday, his biggest expenses are raising more funds and legal fees.
As to Biden, his $51 million is rather less than the $90 million raised in March, but the $90 million figure was goosed from the Democrats' chichi fundraiser, the one with Bill Clinton and Barack Obama. If we correct for the chichi factor, it looks like Trump is pulling in around $25 million a month and Biden is pulling in around $45 million a month. Also, most of Biden's haul last month was powered by small-dollar donors. That is much more repeatable than the chichi stuff, since the fat cats' beneficence only goes so far.
Incidentally, the Trump campaign points out that Trump is bringing home the bacon despite being in court all day, 4 days a week. Maybe, but let's not forget that he is raising money off the whole martyr bit like there's no tomorrow. Plus, being in court doesn't stop him from attending a fancy dinner with millionaires and billionaires on a Saturday night. In any event, we add this because readers may think it's an important part of the story. We, however, do not think so. (Z)
Should Donald Trump be reelected, there are several things he'll be looking for in an attorney general. Experience would be nice, if only because that will grant a veneer of legitimacy. A track record of corrupt behavior is a major selling point, of course. And a demonstrated commitment to being a Trump toady is essential.
If you think about it for a couple of minutes, there is someone who most certainly checks all the boxes. That would be Texas AG Ken Paxton, who does have experience, who is as corrupt a politician as any in office today (non-U.S. Senate division), and who is one of the biggest Trump sycophants in the country. In the off-the-rack world of political appointments, Paxton fits like a custom-made suit.
It would appear that Donald Trump is well aware of Paxton's "qualifications." This weekend, a reporter in Texas asked the former president if he would consider Paxton for AG in a second Trump administration, and Trump said: "I would, actually. He's very, very talented. I mean, we have a lot of people that want that one and will be very good at it. But he's a very talented guy." "Talented" is not the word that we would use for it, but it's exactly the word Trump would use.
Trump has a long history of dangling appointment carrots, only to yank them away, for various reasons. After all, who can forget this image?
Sometimes Trump does it for sadistic purposes, sometimes he does it because it's a way of buying "loyalty" without having to actually pay anything. That said, Paxton makes so very much sense, since he's so very sleazy, and since he would so obviously tote whatever water Trump ordered him to tote. The only real problem is that some Senate Republicans might rebel against confirming him. But that's only a maybe, and if Trump turns the screws... (Z)
The Q1 financials for publicly traded companies were due to the SEC last week, and the numbers for Trump Media and Technology Group (TMTG) were grim. The company made $770,500, while spending $327.6 million. That's a loss of $327 million. TMTG claims that $311 million of that was a one-time expense due to merging with Digital World Acquisition Corporation, though even if you accept that, we're talking losses that are 22x revenues. That's no way to stay in business.
TMTG also claims that things are going to turn around eventually, and the only reason the company is losing money is because it is focused on long-term product development. So, what long-term products are going to put the company in the black? Here is the answer from TMTG's press release:
By adding features to Truth Social, launching live TV streaming, and building out its ecosystem, the Company aims to first develop a slate of best-in-class products that can then be leveraged to increase revenue and drive long-term value.
Sounds like a bunch of corporation-speak to us; the only things missing are references to "synergy" and "core competencies." The only thing there that represents some actual, new product is "live TV streaming," which is an area already dominated by a number of behemoths, and where it takes billions to get any market share whatsoever.
The stock price for DJT is still holding fairly steady; it closed at $48.38 yesterday. But there are so few shares available for trading, and those that do exist are so tied up in shorts and maneuvers like that, it's impossible to know what the shares will actually be worth once the floodgates open. There will be one more SEC filing, due August 9, before Donald Trump can start selling shares on October 6. And on that day, we will learn if this company is going to end up as his financial lifeline, or if his house of cards remains in danger of falling. (Z)
We know that some readers do not like to hear about the world of sports, but there are a couple of news items from that arena this weekend that crossed paths with the world of politics. So...
First up is Kansas City Chiefs kicker Harrison Butker. A couple of weekends ago, he delivered the commencement address at Benedictine College, a small Catholic school in Kansas. And although the custom is to keep such addresses politically neutral, Butker instead decided to go for a "greatest hits" of far-right talking points that would not have been out of place on, say, the Nick Fuentes podcast. Among the "insights" that Butker shared: abortion is evil, Joe Biden is not a real Catholic because he supports abortion, LGBTQ people are evil, DEI is evil, and the best (and really only) place for women is barefoot, pregnant and in the kitchen. If you would like to read the speech for yourself, it is here. It would seem that the 28-year-old Butker hasn't yet gotten to the New Testament in his Bible studies, as that's the part where it says "Judge not, that ye be judged" (Matthew 7:1).
So, what makes this a political story? It's not that some meathead said mean things about Joe Biden. No, recall that the Chiefs are the reigning Super Bowl champions, and the reigning Super Bowl champions get an invite to the White House. Since Butker is a retrograde jerk, many have suggested that his invitation should be yanked. Of course, the administration does not want to get within a country mile of that, since there are roughly 80 players on an NFL roster (along with coaches, trainers, etc.), and if you pull the invitation for one, then you set yourself up for things like "Wait. It's not OK to exercise your First Amendment rights, but it's perfectly fine to drive drunk?" Or "Wait. It's not OK to say that a woman's place is in the kitchen, but it is OK to say that professional sports are like slavery?" So, Team Biden has already made clear that the invitation is for the entire team, and it's up to the team to decide who does, and does not attend. Maybe that will be the end of it, particularly if Butker skips out, since he hates Biden anyhow.
Next up is Nate Silver. His work was once very good. These days, it is sometimes good, sometimes not so good. And the sports story that involves him is that he sent a cheap-shot tweet out over the weekend:
As the WNBA gains more attention, it's time to confront an uncomfortable reality: It's kind of weird to name a sports team (or anything really) the Fever?
The Indiana Fever is the team that drafted phenom Caitlin Clark, which means they are now the hottest ticket in the WNBA.
It is very difficult to understand why this particular team name sticks in Silver's craw. Certainly, there are plenty of team names that are more questionable than this. Just in Los Angeles alone, you have a basketball team in the Lakers that no longer plays in the Land of 10,000 Lakes, and a baseball team in the Dodgers that hasn't had to dodge a single trolley in the last 70 years. Two different pro teams are named after fires that destroyed a city, the Chicago Fire and the Calgary Flames (which were originally in Atlanta). The Baltimore Ravens are named after a poem. The Buffalo Bills are named after a (fake) cowboy. The Cleveland Guardians and New York Liberty are both named after statues. The New Orleans Saints represent the original "Sin City" (before the name was largely appropriated by Las Vegas). The New York Red Bulls are named after a caffeinated beverage. The Utah Jazz (having moved from New Orleans) represent a city where there is no jazz, and where there are hardly any Black people.
The point here is that Silver has definitely moved into the "pundit" phase of his career. He may still produce good analysis, but when you can either do 30 hours of number-crunching or 30 seconds of tweet-typing to get some attention, well, the math there is pretty easy, even for someone without Silver's background. He also has a book coming out soon, which means the more attention the better.
Our point here is that there are still plenty of folks in the media who treat Silver's pronouncements like manna from heaven, but you should really take them with a few grains of salt, given where he's at these days. The same thing happened, incidentally, with Bill James, the baseball number-cruncher whose work effectively provided the springboard for Silver's career. James was once a visionary, and these days he's sometimes still a visionary, but he is also sometimes a crank. (Z)
Praecones were, in effect, the town criers of Rome. So, Praecones Analytica? Seems a little precious to us. However, they are academics trying to build up a polling concern, so we allow it, since we see no evidence of partisan bias. Although a poll in which 26% are undecided/third-party doesn't really tell us much. As to Washington, if Joe Biden is ever in trouble there, the game is over. (Z)
State | Joe Biden | Donald Trump | Start | End | Pollster |
New Hampshire | 37% | 37% | May 15 | May 20 | Praecones Analytica |
Washington | 55% | 39% | May 15 | May 16 | PPP |