“President Donald Trump has been on a multimillion-dollar bond-buying spree since taking office, investing in debt issued by local authorities, gas districts and major American corporations,” CNBC reports.
Trump Calls on Fed Governor to Resign
“Donald Trump has called on Federal Reserve governor Lisa Cook to resign, after one of his top allies in government called for an investigation into the central banker over alleged wrongdoing related to home mortgages,” the Financial Times reports.
Minnesota Says TikTok Preys on Young People
Minnesota has “joined a wave of states suing TikTok, alleging the social media giant preys on young people with addictive algorithms that trap them into becoming compulsive consumers of its short videos,” the AP reports.
America’s Coming Crash
Ken Rogoff: “With long-term interest rates up sharply, public debt nearing its post–World War II peak, foreign investors becoming more skittish, and politicians showing little appetite for reining in fresh borrowing, the possibility of a once-in-a-century U.S. debt crisis no longer seems far-fetched. Debt and financial crisis tend to occur precisely when a country’s fiscal situation is already precarious, its interest rates are high, its political situation is paralyzed, and a shock catches policymakers on the back foot.”
“The United States already checks the first three boxes; all that is missing is the shock.”
Can Putin Really Negotiate with Zelensky?
“If Russian President Vladimir Putin agrees to meet his Ukrainian counterpart, Volodymyr Zelensky, as urged by President Trump, he will come face-to-face with a man he has spent 3½ years excoriating as an illegitimate leader and puppet,” the Wall Street Journal reports.
“Negotiating directly with Zelensky would run sharply counter to the narrative Putin has carefully constructed and sold to Russians in an effort to justify his 2022 invasion of Ukraine: that the war is part of a broader conflict with the West in which Zelensky and his country are mere pawns.”
Elon Musk Has a Favorite to Succeed Trump
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Cornyn Shows Signs of Closing the Polling Gap
A new Texas Southern University poll finds Sen. John Cornyn (R-TX) trails Texas Attorney General Ken Paxton (R) by just five points in the Republican Senate primary, 44% to 39%, an indication he may be winnowing down a huge polling gap.
Syria’s Top Diplomat Meets with Israeli Delegation
“Syria’s foreign minister held a rare direct meeting with an Israeli delegation in Paris on Tuesday, talks that were brokered by the United States as part of a diplomatic push for Syria and Israel to normalize relations despite a recent surge in tensions between them,” NBC News reports.
Man Accused by Nancy Mace Is Arrested
A man who Rep. Nancy Mace (R-SC) accused of being a sexual predator was “charged with first-degree criminal domestic violence in connection with a 2016 incident involving his estranged wife,” the Charleston Post & Courier reports.
Newsom’s Pollster Says Redistricting Bid Is Popular
Gov. Gavin Newsom’s longtime pollster says his bid “to redraw California’s congressional seats to create more Democrat-friendly districts has a 22-point advantage in support among the state’s voters,” 57% to 35%, Axios reports.
“Voters’ support appears to have increased as they’ve learned more about the measure… A July survey had found that 51% favored Newsom’s redistricting push.”
Trump Escalates Attacks on the Smithsonian
President Trump escalated his campaign to purge cultural institutions of materials that conflict with his political directives, alleging museums were too focused on highlighting negative aspects of American history, including “how bad slavery was,” CNN reports.
Said Trump: “The Smithsonian is OUT OF CONTROL, where everything discussed is how horrible our Country is, how bad Slavery was, and how unaccomplished the downtrodden have been — Nothing about Success, nothing about Brightness, nothing about the Future.”
Most Voters Oppose Trump’s Takeover of D.C. Police
A slim majority — 51% — of likely voters nationally oppose President Trump’s takeover of the Washington, DC, police force, according to a new Data for Progress survey.
Companies Can’t Hold the Line on Prices Much Longer
“The corporate pricing dam is cracking — companies are raising prices, or signaling that increases are coming, to absorb some of the costs of the Trump administration’s tariffs,” Axios reports.
“Americans are already under strain from rapidly rising prices during the Biden administration. Another bout of hot inflation — at a time when the labor market is slowing down — will hurt.”
Why Does Xi Keep Purging Loyalists?
“No matter what Americans think of their politics, the United States still operates in the open. When the most powerful politician and the richest businessman fell out, the public got the full spectacle: barbed posts on social media and sniping in speeches,” the New York Times reports.
“China is the opposite. The country still doesn’t know why former President Hu Jintao was abruptly escorted out of the 2022 Communist Party congress, or what really happened when former Premier Li Keqiang died at 68 in 2023. And decades later, the full story of Lin Biao, Mao Zedong’s chosen successor, who fled China and died in a plane crash in 1971, is still unknown.”
“The secrecy has spawned a niche industry of ‘bedside eavesdroppers’ — Chinese online commentators who parse rumors and fleeting clues for signs of political shifts.”
Democrats Face a Voter Registration Crisis
“The Democratic Party is hemorrhaging voters long before they even go to the polls,” the New York Times reports.
“Of the 30 states that track voter registration by political party, Democrats lost ground to Republicans in every single one between the 2020 and 2024 elections — and often by a lot.”
“That four-year swing toward the Republicans adds up to 4.5 million voters, a deep political hole that could take years for Democrats to climb out from.”
Hegseth’s Security Needs Tax Army Protective Unit
“Defense Secretary Pete Hegseth’s unusually large personal security requirements are straining the Army agency tasked with protecting him as it pulls agents from criminal investigations to safeguard family residences in Minnesota, Tennessee and D.C.,” the Washington Post reports.
Israel Split Defines Michigan Senate Primary
Punchbowl News: “The open Senate seat in Michigan, a state President Donald Trump won in 2024, has triggered an intense battle that’s morphed into a proxy fight over the future of the Democratic Party.”
“Rep. Haley Stevens (D-MI), seen as the favorite of Democratic leadership, is doubling down on her pro-Israel record. State Sen. Mallory McMorrow and former Michigan health official Abdul El-Sayed — to varying degrees — say Democratic voters want their leaders to reconsider what’s been a reflexively pro-Israel stance by both parties in Washington for decades.”
Israel to Call Up 60,000 Reservists for Gaza Takeover
“The Israeli military will begin calling up around 60,000 reservists for duty as it proceeds with plans to take over Gaza City, a Hamas stronghold where hundreds of thousands of Palestinians are believed to be sheltering,“ the Wall Street Journal reports.
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