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Mr. Donald Trump paid little or no tax for several years, and reported negative income for four of the six years 2015-2020, says this report in WSJ. This is according to tax documents released by a House committee. The tax returns for that period shows adjusted gross income of a negative $53.2 million. The Trumps showed income tax liability of  $750 or less for three of the six years these documents showed, says the WSJ.

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US-China relations shift from adversarial to peaceful cooperation after the Busan meeting in South Korea in October 2025 between Chinese leaders Xi and Wang Yi. This is how the Ministry of Foreign Affairs of PRC presented the meeting- a turning point in relations. In April 2026, 6 months later it appears that this is certainly the case as shown in the WSJ Analysis in the adjoining article. Both leaders have decided that they will avoid any actions that disrupt peaceful cooperation and maintain friendly relations in anticipation of the May 14-15 visit to Beijing of DJT which will be followed by a trip by Xi and Wang Yi, He Lifeng to the US. The spirit of cooperation is reflected in this statement- "China will host APEC 2026, and the U.S. the G20 summit next year. The two sides can support each other in making both summits productive to promote world economic growth and improve global economic governance. President Trump said that it is a great honor to meet President Xi. China is a great country. President Xi is a well respected great leader, and has been my good friend for many years. We have always got along well. The United States and China have always had a fantastic relationship, and it will be even better. We will make both China and the U.S. even better. China is the biggest partner of the U.S. Together, our two countries can get many great things done for the world and have many years of success. China will host APEC 2026, and the U.S. will host the G20 summit next year. We expect both to be successful." ...

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Krugman in the NYT cites president Trump's reference in an interview with the Economist magazine to the expression "priming the pump." Trump in that interview in May 2017 said he had come with the expression and feels good about it. "Priming the pump" is an expression used by president Franklin Roosevelt during the Depression period. During the depression and in 2009 the economic crisis needed a stimulus response and priming the pump. The economy today with lower unemployment is not the time to increase deficits with tax cuts for the wealthy, says Krugman. Only infrastructure spending with a long term return justifies increasing the deficit. He is critical of Speaker Ryan for supporting deep cuts into Medicaid for poor people, and yet supporting the tax cuts weighted more towards helping higher income people.

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A CNN poll shows 62% of Independents support the indictment of Donald Trump. John McCormick of the WSJ talks to Republicans in different states to understand how they feel about Mr. Trump after the indictment. The party is split -with some Republicans seeing that Trump has too much baggage to win in 2024. They feel the party should try another candidate. Mr. Trump is seen as having some positives but as having an abrasive personality, causing tension, and being too divisive to be a good president. There is a sense that it is time to move on to someone else.

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The contrast between Carlos Tavares and Elon Musk can be seen in this exchange between Mr. Trump and Mr. Musk. Carlos Tavares plans a big manufacturing effort for Stellantis in electric cars- 75 models by 2030- with a very different culture than that of Mr. Trump and Mr. Musk, that builds on the dignity of each worker and family. Social media is used by Mr. Trump and Mr. Musk for their own benefit, by manipulating culture and beliefs including how capital of society should be allocated away from HEIRS (Health, Education, Infrastructure, Retirees, and Societal needs). Absent Mr. Musk America would still be producing electric cars as is evident from the intense competition between the major car companies and their complete switch to electric on a scale needed for tackling climate change. Who is the better role model for young people in the US or Europe? Carlos Tavares with his simplicity and caring for dignity of workers or Donald Trump, Elon Musk with their rancorous exchanges and comments, and extravagant behaviour.     ...

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Kamala Harris describes her vision of The Opportunity Economy in an address at Wake Tech Community College in Raleigh, North Carolina. Like president Biden she wants to build America's Middle Class. When the Middle Class does well everyone does well, Biden says this many times. By contrast she said Trump's plan would cost Americans $3900 a year raising cost of living. Kamala Harris said- "And key — key to creating this opportunity economy is building up our middle class.  It is essential.  (Applause.) The middle class is one of America’s greatest strengths, and to protect it, then, we must defend basic principles — such as, your salary should be enough to provide you and your family with a good quality of life. (Applause.) Such as, no child should have to grow up in poverty.  (Applause.) Such as, after years of hard work, you should be able to retire with dignity.  (Applause.) And you should be able to join a union if you choose. Building up the middle class will be a defining goal of my presidency, because I strongly believe when the middle class is strong, America is strong. " (Applause.) Harris described the vision of president Trump, as a complete contrast- "Now compare what Donald Trump plans to do.  He wants to impose what is, in effect, a national sales tax on everyday products and basic necessities that we import from other countries.       That will devastate Americans.  It will mean higher prices on just about every one of your daily needs: a Trump tax on gas, a Trump tax on food, a Trump tax on clothing, a Trump tax on over-the-counter medication.       And, you know, economists have done the math.  Donald Trump’s plan would cost a typical family $3,900 a year.  ...

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The specific charges in the New York indictment of Mr. Trump are shown in this analysis by the BBC. The first line of the Statement of Facts that accompanied the indictment spells out the prosecution case.

"The defendent Donald J. Trump repeatedly and fradulently falsified New York business records to conceal criminal conduct that hid damaging information from the voting public during the 2016 presidential election...The defendent orchestrated a scheme with others to influence the 2016 presidential election by identifying and purchasing negative information about him to suppress publication and benefit the defendent's electoral prospects."

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 Donald trumps economic plan would worsen the country's economy through extravagant borrowing and lower economic growth in the long run. Because it lowers taxes by 15 percent without any paired cuts Trump's plan would worsen the deficit, so that large debt would hurt the economy in the long run. Clinton's plan would increase taxes by 4  percent largely on high incomes so as not to hurt consumer spending, with paired spending to help lower income households. Because Trump's tax cuts benefits go disproportionately to higher incomes the benefits in terms of consumer spending are slight or insignificant. In the current state of weak income gains of the last ten years it would take some time for the middle and working class to recover. Clinton's plan carefully nudges that recovery forward without aggravating the debt, so that as incomes and net worth recovers across broad parts of the population, the U.S. is poised to go forward with strong growth as in the postwar years. Trump's plan frontloads tax benefits to higher incomes at the expense of worsening debt and enlarging future debt. In the process it worsens income disparities already aggravated by the 2008 financial crisis. Reducing the chances of a broad based recovery for all parts of the population, necessary for a strong recovery.                       ...

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The former president Donald Trump and Rachel Scott of ABC Q&A session turned into controversial remarks about Kamala Harris. About not knowing she was black "until a number of years ago when she happened to turn Black." And now she wants to be known as Black."

Former Maryland Governor and candidate for senator from Maryland Larry Hogan says “It’s unacceptable and abhorrent to attack Vice President Harris or anyone’s racial identity. The American people deserve better."

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Things slow down quickly. The next steps after the arraignment of Donald Trump in New York are the information exchange of the prosecution with the defense team with a first tranche of documents and then a second tranche of documents. This happens by mid June and gives the defense team time to size up the situation. Next are motions for specific relief. The defense may ask to transfer the case to Staten Island or ask the case to be pushed back to the Spring of 2024. At this time the next date for the appearance of Mr. Trump is December 4. Defense may ask that he not be asked to appear in person, and this is left for the Judge to decide.

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This editorial in the WSJ responds to Donald Trump's comments about the system being "corrupt" and "crooked" and saying there could be violence at the convention. It says the rules are transparent and long standing in Wyoming, Colorado and other states where Trump has not campaigned or sought support. It calls on the Republican National Committee not to be intimidated by Trump's statements, especially as it says the the Republican party should not nominate a candidate who has the highest negative perceptions rating of a shocking 65% with national voters in a general election. Trump never complained when he won 99 delegates in Florida with 45% of the vote and 50 delegates in South Carolina with 32% of the votes cast- securing the most delegates because of a winner take all or winner take most system. It says Trump has so far won only 37% of all votes cast and won about 45% of the delegates, a process that can be seen as disproportionately favoring Trump because of the rules. This is particularly true because Trump's core support has remained at about 35%, and the fragmentation of the remaining vote has hurt the other candidates. About 83% of eligible voters have not voted in the primaries, making the process less representative than it should be. ...

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Judge Engoron of the New York State Supreme Court is the rarest of judges in his style, demeanor and use of everyday expressions. He was a cabdriver and a music teacher and more like everyday people in America.  NYT shows the 92 page legal decision in which Judge Engoron sets a fine of $355 million in the civil fraud trial of Donald Trump. Engoron cites a poet and uses rare language in his everyman style, saying: "The English poet Alexander Pope (1688-1744) first declared, “To err is human, to forgive is divine.” Defendants apparently are of a different mind. After some four years of investigation and litigation, the only error (“inadvertent,” of course) that they acknowledge is the tripling of the size of the Trump Tower Penthouse, which cannot be gainsaid. Their complete lack of contrition and remorse borders on pathological. They are accused only of inflating asset values to make more money. The documents prove this over and over again. This is a venial sin, not a mortal sin. Defendants did not commit murder or arson. They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways. Instead, they adopt a “See no evil, hear no evil, speak no evil” posture that the evidence belies." And calling it "this is not the defendent's first rodeo"- "In considering the need for ongoing injunctive relief, this court is mindful that this action is not the first time the Trump Organization or its related entities has been found to have engaged in corporate malfeasance. Of course, the more evidence there is of defendants’ ongoing propensity to engage in fraud, the more need there is for the court to impose stricter injunctive relief. This is not defendants’ first rodeo."     ...

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Most of it is because of Donald Jr. and his affinity for Vance, a bonding that developed once the former president left office. Donald Jr. championed Vance choice over Burghum and Rubio. For the former president the choice was natural because his style fitted that of Vance of saying directly with candor what he thought. Vance's criticism that a second Trump administration focused on tax cuts and not investing in the American economy would not lead to economic growth still rings true as shown in the adjoining article on the US dollar, on inflation moving up with tariffs and job growth affected by lack of the government investing in the economy and American manufacturing. Even in the Depression years Republicans stuck to their idea that governments should stay out, are they likely to change that today? Vance's criticism was made before he became senator, in 2016. It would lead to another lost decade for the American economy and people, and put America just where the Tories have left Britain today so that Keir Starmer's Labour cannot bring immediate relief to the British people struggling with cost of living in 2025, with the mess the Tories have left behind.  ...

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Steve Bannon, president Trump's former strategist in the first 6 months of his presidency and during the election campaign makes a rupture with Trump after astonishing revelations in a new book. Michael Wolff in his new book, "FIre and Fury: Inside the Trump White House," attributes statements to Mr. Bannon that say the president's son Donald Trump Jr., Jared Kushner, his son-in-law, and Paul Manafort, the campaign chairman at the time, had acted in a "treasonous" way by meeting with Russians during a June 2016 meeting at Trump Tower. According to Mr. Wolff's account in the book Bannon also predicted that the special counsel Mueller investigation would eventually focus on money laundering. This account of the Wolff book is from the New York Times, which released excerpts from the book after the Guardian first put out this story. It quotes from an email from an unnamed White House aide, describing the Trump operations in the White House as the worst possible- that the president refused to read much, not even one page memos, getting up often because he is bored through meetings. And using words that reflected it says Mr. Gary Cohn's view that much of the operation was "stupid," "dumb," or even idiotic. Wolff is a columnist and author not particularly known for meticulous reporting says the New York Times.    ...

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In a crucial demographic Donald Trump's provocative remarks cause a stir and a slide by 13 percentage points. In late July NYT/CBS polls show 72% support among Republican women. McCain won 89%, Romney 93%, George W. Bush 93%.  Divisive tactics hurt particularly with women, say experts. In states such as Pennsylvania this is evident, as Trump has 27% there for women overall and Clinton 58%, according to one poll. The Rutgers Center for Women and Politics has studies on how women diverge in their concerns and lives from men- from lower pay, longer life expectancy, and role of government in helping them,  to cite a few. Clinton has released television ads in 5 swing states directly appealing to mothers, showing children, and emphasizing kitchen table issues, job creation. College educated white women in particular carefully look at the issues, and make independent judgements based on character and temperament, and are less likely to ignore repeated provocative remarks or clearly sexist comments. ...

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Jimmy Carter dies peacefully at his home in Plains, Georgia, at age 100 in Christmas week 2024. He was president following Nixon-Gerald Ford and a crisis of confidence in the US after Watergate scandal and as a southern peanut farmer from Georgia brought a period of renewal to political life in the country. He became a one term president with the election of Ronald Reagan during a period of high inflation and a challenge from Edward Kennedy during the primaries. His greatest success was after leaving office when he tackled health epidemics in Africa and helped stabilize democratic governments by acting as observer in elections around the world. His legacy is a lasting one and shows the power of good works as shown in the spiritual heritage of the Nation. Reagan, Bush Sr and Bush Jr, Obama either started the wars or failed to end the wars that dragged on after Jimmy Carter left office sapping the vital energies of the Nation. Only now under Biden and Trump are these wars coming to an end. And new effort is going into reviving America as an economic powerhouse improving the lives of its people. ...

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This is an indepth article on Donald Trump's financial holdings, looking at the debt that Trump has built up in his real estate dealings, by Susanne Craig of the NYT. To get a detailed look of this the NYT inquiry into the holdings engaged RedVision Systems, a national property information firm to search publicly available data. Much of Trump's business is shrouded in mystery. But it is well known that Trump has used debt to build his business in a way that is not considered good practice in business, having led to three bankruptcies. Trump says he "is the king of debt." And "he loves debt." The recovery of real estate values during a rescue effort for the country's financial system also helped Trump tackle debt in a way that was not available to other entrepreneurs who suffered from the oil price collapse- one of them McClendon also used debt aggressively and his business collapsed leading to suicidal car crash. You can love excessive debt only if the government supports you with some sort of financial guarnatee misplaced, or you are lucky to get away with it- just ask McClendon. The irony is that the rescue of the financial system led to the low interest rates that hurt savings of the middle and working class, and the lack of help to Main Street in the home foreclosure crisis also hurt the same people disproportionately. The Obama administration policies in this regard rescued the very same business interests such as the New York real commercial estate symbolized by Trump, that are now appealing to those hurt as president Obama worked to let the financial system recover. The intention was never to support excessively overleveraged banks or overleveraged real estate built on debt, but in reality this is what happened. A nation cannot run its financial affairs in this manner of overleveraging to extract high profits that an investment bank such as Lehman or Goldman Sachs does, or a real estate company such as Trump's does- if regulators let them do this. Normally after the financial crisis of such dimensions that it shook the world economy in 2008-2009 leading to fears of a collapse as happened in the 1930's, the same faces would not still be there. But this is a strange period or a transition period where things are being sorted out, and the same faces Blankfein at Goldman Sachs and Trump in New York commercial real estate are with us.  And though the bashing of Goldman Sachs connection to Clinton is evident in the campaigns of Trump and Sanders, the bashing of Trump real estate and finance companies with its overleveraging and bankruptcies is evident in the campaign of Clinton against one posing as a representative of the working class. John Paulson who benefitted by shorting mortgage securities that caused the financial crisis of 2008 is on Trump's top economic advisory team, including the hedge funds and financial interests on Wall Street that Trump is saying support Clinton. No one, not the NYT or WSJ, can answer this, its just the paradox of today's situation. Hillary Clinton can say she has learned her lesson, with her Methodist upbringing and her own supporters such as Robert Reich and others, and break with the past especially as it in no way contributes to her success as president, not one bit. In fact rebuilding the middle class and infrastructure require entirely different connections and views on life, a different imagination.  Trump has billions of dollars and a real estate business that is so complex that even the NYT and property information firms can only say that in the end it is shrouded in mystery. Companies owned by Trump says the NYT from this inquiry have debt of $650 million. Other Trump business activities through 3 passive partnerships owe an additional $2 billion. It is a lot easier for Hillary Clinton to put the speech fees behind her as they have little to do with what she is as a Methodist and a proponent of improving women's lives, than it is for Donald Trump- for whom his business is everything that he is including his art of the deal- to reject who he is. ...

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This editorial in the WSJ points to the manner in which Donald Trump has handled Ukraine, Crimea and Russia. By saying that he might accept Russia's takeover of Crimea, and his failure to study the situation, makes it appear that he does not really understand the situation in the Ukraine with the Russian intervention in the eastern part of the country. This makes it look like the Republican nominee has not acted in a way that every candidate from the Republican party since Eisenhower has- to protect America's interests and that of its allies in Europe.  Ironically making the same mistake that president Obama has in not acting when America's interests are challenged, with Hillary Clinton and Democratic leaders who are close allies such as Leon Panetta, promising to take strong action where and as needed, in the tradition of president Harry Truman.

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The different views on Ukraine of the Republican party in the US are shown here in this WSJ report. The views range from Rand Paul, Donald Trump to Republican leadership in the Senate under Mitch McConnell. Mr. Trump is also seen as representing an older view of relations with Russia that may no longer exist after the full scale invasion of Ukraine. In this sense Russian tanks invading Ukraine is a watershed event like that of Prague in 1968 and Hungary in 1956. Old views no longer hold. The Cold War began with the Berlin Blockade in 1948- the response of president Harry Truman was the Berlin Airlift supplying the city of Berlin, and some such response is taking shape with the $350 million immediate aid to Ukraine that Biden promised on Feb. 26, within 48 hours of the invasion. The Hungarian revolution in 1956 set the stage for the Cold War after Soviet tanks entered Budapest. The West and the entire free world rallied in 1956 and again in 1968. Some such change is happening now throughout the free world. ...