Today is June 24, and these are the stories I am watching.
1-President Trump to boost sanctions on Iran.
The U.S. plans to impose major new sanctions on Iran, signaling it won’t ease pressure despite a diplomatic push by European leaders to persuade Washington and Tehran to show restraint.
DML: Great! We cannot turn a blind eye to Iran’s behavior and heavy sanctions are the best way to cripple the strength of the rogue nation.
2-Bond-yield drop fuels uncertainty.
The collapse in bond yields since this spring has been stark, swift and global, upending expectations that the world’s economy would be strong enough to support a return to normal monetary policy. The drop suggests investors expect a recession and that central banks will have to step in to try to forestall it.
DML: If you have been listening to me for the past year on TeamDML.com (subscription) then you knew this was coming as I predicted it in late 2018. Listening to me on these sort of things is smart, as I tend to be way in front of the trends. Personally, I am moving my savings over to safer pastures this week. Meaning, I am leaving LIMITED money in the markets. As for Trump, the economy stands as his biggest asset, and his greatest weakness. If the slow comes right before the election, he is in trouble.
3-Google’s enemies gear up to make antitrust case. As U.S. officials prepare an antitrust probe of Alphabet’s Google and possibly other Silicon Valley giants, a loose-knit crew of its rivals is gearing up to help. Industries from news to travel to online shopping are readying documents and data in anticipation of meetings with the Justice Department.
DML: Call me in please!
4-Trump pulls back rules enforcement.
The president’s promises to reverse the regulatory actions of the Obama administration have been stymied by court challenges, but his White House is achieving the goal another way: by not hiring people to do the work of enforcing rules that are on the books.
DML: Whatever it takes.
5-Congress doubtful about reaching solutions to asylum loopholes.
President Trump over the weekend delayed a planned mass roundup of illegal immigrants by Immigration and Customs Enforcement (ICE) for two weeks, in the hope that a bipartisan solution to the “asylum and loophole problems at the southern border” can be reached. However, lawmakers have their doubts. Democrats reportedly would rather focus on a comprehensive immigration overhaul or measures to fund the asylum process at the border. Republicans, would rather focus on legislation limiting asylum options and on building Trump’s proposed border wall.
DML: Until the president cuts off the jobs, the rest of this congressional BS is all window dressing.
6-The Pope Francis Center in Detroit is planning a 40-unit development to provide bridge housing for the homeless.
The $19 million project would include studio apartments, a cafeteria, gymnasium, classrooms and a public health clinic. Residents would spend 90 to 120 days there before moving on to more permanent housing. Detroit’s Planning Commission has approved rezoning for the six-acre site on the city’s eastside. Sufficient funds need to be raised for the project which still is awaiting final approvals from the city.
DML: This is the way to get people off the streets. There are a few more steps to take, and I urge you to buy a copy of UNITED STATES of TENTS. My new film on homelessness highlights how to fix the issue of homelessness as it is positioned to get WORSE with housing so out of reach in terms of affordability. I need your help. Please go to DennisMichaelLynch.com/homeless and pick up a few copies if you can. Send it to your leaders, urge them to watch and learn.