CO Gov Polis declares disaster for wildfires
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Just One Thing: The politics of immigration (is just warming up)
I suspect that immigration policy will be at the center of political conversation in the US for the next few weeks (even more than before.)
I wrote a rather lengthy Substack about it and I hope you'll read it (and subscribe...for free!)
The coming immigration fight - by Ross Kaminsky
A little more here: "Behind the Curtain" Extra: Trump's great immigration peril
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One More Thing: Does a lion need to be provoked?
This story is not important all (except possibly to the woman who lost her arm) but when I read it, I thought to myself "are lion attacks often 'provoked'?" I mean, aren't lions and plenty of other wild animals born "provoked"?
Woman Loses Arm After Unprovoked Lion Attack At The Zoo | iHeart
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Today's Guests
Charlie Gasparino is a senior correspondent for Fox Business Network and columnist for the NY Post. As a reporter, he had multiple interviews of Jeffrey Epstein.
We'll also talk briefly about this:
Why FCC chair will continue to throttle Paramount-Skydance merger – despite Trump settlement
And maybe we'll get to this: Tesla’s feckless board needs to rein in Elon Musk before it’s too late
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Speaking of Epstein, and the MAGA insistence on the release of the "Epstein Files" and their certainty that Epstein killed himself, I'm not surprised by Trump's commentary this weekend:
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Houston Frost is Chief Product Officer for payment solution provider Usio. We'll discuss the news (from several months ago but I didn't hear of it until last week) that soon almost nobody will be able to send or receive physical checks to/from the federal government, such as for tax payments or refunds.
About Usio - Usio Payment Processing Solutions
The federal government is phasing out paper checks. Here's who will be affected.
Federal payments go paperless: Key provisions of the recent executive order | Wolters Kluwer
Here's the Executive Order from March: Modernizing Payments To and From America's Bank Account – The White House
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Other Stuff
I'm trying to get Denver Mayor Mike Johnston on the show on Wednesday. The city's $800 million bond offering is something I have in mind to ask about, given the city's current well-known financial challenges (leading to trying to save $200 million, in part by laying off lots of city workers.) Now, I see this story: Denver Council may block $800M bond package unless MayorJohnston revises it fast - Axios Denver
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I wonder if Trump finally understands who the bad guy is: Trump to meet NATO secretary general as plan takes shape for Ukraine weapons sales | National | denvergazette.com
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Trump's single worst policy position poses a lot of risk to his presidency and his party: Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners | Business | denvergazette.com
I realize it's been TACO (Trump Always Chickens Out) for a few months now when it comes to tariffs: Trump threatens and then backs down. But I suspect he won't this time, not least because he was specifically asked about "TACO" by a jackass reporter. These tariffs are manifestly illegal and it's not just American consumers and businesses but Trump himself who should hope that courts strike them down. To be clear: I understand and share Trump's frustration with foreign trading partners having markets that are less (or much less) open to American products than the US is to their products. Trump seems to forget that politicians in those countries have domestic constituencies to please just as Trump does here with, for example, farmers...they same constituency that is responsible for many tariffs on US goods overseas. Trump also doesn't understand that the gain to a nation actually comes from imports, not exports. (I realize this isn't necessarily intuitive, and certainly it's easy for politicians to talk about some new factory...or some factory that shut down...than to focus on the dispersed needs of tens of millions of consumers.)
That said, the economic outlook (from some economists), while not great, is better than it was a few months ago: Economists See Lower Recession Risk and Stronger Job Growth: WSJ Survey - WSJ
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Terrible: Wildfire destroys a historic Grand Canyon lodge and other structures - POLITICO
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This looks like an amazing product. (I'm trying to get a guest from the company to join me on the air one day soon.) It’s Bulletproof, Fire-Resistant and Stronger Than Steel. It’s Superwood. - WSJ
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Interesting area of finance: Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It - WSJ
(full disclosure: I have an investment in a HPS fund, but no other connection to the company.)
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Clearly a challenge balancing these two competing interests: ICE deportations are derailing Colorado criminal prosecutions
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Ummmm...no thanks: Denver speakeasy sells $2,500 martini - Axios Denver
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Love it: Denver Zoo reveals new name of baby pancake tortoise - Axios Denver
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Nerd alert! Listener Mark asked to read and comment on this short economic note from RAND: RAND_WRA516-2.pdf
Here's my reply:
The problem with leaving the analysis at what % of income is captured by the upper 10% (or any other small section of top earners) is that it doesn’t actually say anything about whether income growth for the lower rungs is faster or slower than it be without that top group. The left always focuses on the distribution of the income (and wealth) but they don’t ask whether the income or wealth would have been generated at all without those top (smart) people generating new ways for lots of other people to make or save money.
Another way to say it: the discussion from the left always assumes a static (or very slow-growing) “pie” so that if some group earns a decreasing share of the pie, it means they’re actually getting less. But a declining share of a much larger pie would mean that even the people getting small slices are getting more than before. They don’t even attempt to address this issue and it’s critically important.
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I didn't get to this last week: A fast-draining reservoir in Montezuma County prompts a fish-for-all
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Let's talk about humor:
Even if you think some jokes aren't funny, that doesn't mean you should be OK with prosecuting people for them. Fortunately, we live in the United States. Woe be to European comedians...
Comedian Sebastian Hotz faces trial for Trump assassination joke
This is Ai Weiwei, mentioned in the above article: Ai Weiwei - Wikipedia
Recently, Terry Gilliam, the only American member of Monty Python, gave an interview to The Hollywood Reporter. Here's a question about humor followed by the answer:
Q: Since you mentioned funny, you have always had a reputation for humor, sarcasm, caricature and all those things, but you have expressed concern in the past that irony was disappearing. How do you feel about the state of humor, or lack thereof, these days?
A: I think Trump has changed things considerably. He’s turned the world upside down. I don’t know if people are going to be laughing more, but they’re probably less frightened to laugh. There have been woke activists with a very narrow, self-righteous point of view. That’s frightened so many people, and so many people have been very timid about telling jokes, making fun of things, because if you tell a joke, these people say you’re punching down at somebody. No, you’re finding humor in humanity!
p.s. Gilliam was rarely on screen but you might remember him as "Cardinal Fang" from the brilliant "comfy chair"/Spanish Inquisition sketch for the Flying Circus TV show, and as Patsy, King Arthur's servant, and the bridgekeeper at the Bridge of Death in Monty Python and the Holy Grail
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I owe you this from last week: Bluesnarfing in Denver: Phone Hackers Are Closer Than You Think | Westword
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Today's Videos
I wish she were basically doing a comedy skit, but I suspect this is exactly what it seems
Rather annoying, but gotta give her credit for out-of-the-box thinking
That'll show 'em!