The Tom Sullivan Show

The President is testing the rules and the limits to his authority.  Today he fired Federal Reserve Governor Lisa Cook.  She has been accused of mortgage fraud but has not been charged with anything.  She is fighting back.  Say hello to court cases on this.  Can the Fed keep its independence, which is so important to the financial markets?  A new executive order banning the burning of our flag.  Again, the President testing something that was previously decided by the Supreme Court.

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Will the President send the National Guard to Chicago next?  Also today a Presidential Executive Order prohibiting cashless bail in DC.  Politically smart but legally dubious.  Abrego Garcia is back in ICE custody today for deportation.  The government now owns 10% of Intel.  According to an extensive list of smart conservative economists it is a terrible idea.

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California has begun its fight with Texas by redrawing the congressional map to favor democrats.  And a conversation with Dr Art Laffer, the man who guided President Reagan's economic policies, i.e. the Laffer Curve.

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Big court victory for President Trump in New York.  A $500 million dollar fine was thrown out.  Leticia James is the loser from this decision.  She is also being investigated for mortgage fraud along with Adam Schiff and now Federal Reserve Governor Lisa Cook.  Keep an eye on these accusations.  Mixed economic news.  Unemployment claims went up, Purchasing Managers index dropped.  Existing home sales higher.  The Leading Economic Index is lower.

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The government is proposing to own 10% of Intel and maybe other chip makers.  Mixing the private sector with government ownership is trouble.  Boston has been given a deadline to start cooperating with ICE.  Probably will go to court.  Accusations of altered crime data in DC.

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Will President Trump get a trilateral meeting with Putin and Zelensky?  Russia seems to be making excuses, i.e. stalling.  Gerrymandering efforts have begun in California but is it a phony effort to make Newsom look like he is a leader?  A shakeup at the FBI.  And is the government really going to own part of Intel?  I hope not.

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An historic day at the White House.  President Trump hosted six European leaders plus President Zelensky as they met to stop the war in Ukraine.  They all talked about a security agreement that looks just like Article 5 of NATO.  The rule that all will defend anyone attacked.  It would probably include U.S. troops in Ukraine.  Putin won't go for it.

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Washington DC is now suing the Feds for going too far in trying to manage crime.  Gavin Newsom thinks Indiana, Missouri and Florida are blue states and wants them to draw new congressional lines.  Huh?  Those are solid red states.  Retail sales were up last month but import prices also up which shows foreign counties and businesses are not paying the tariffs of products shipped to the United States.

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Fighting crime in DC.  Who could be against it?  Dems feel it is a trap.  If they oppose the effort they look bad.  If they support the effort, they support the President.  Bottom line, people are all for it.  Social Security is 90 years old today.  YouTube crashed because Taylor Swift introduced her new album.  Zohran Mamdani isn't getting the love from Democrats.  Wholesale inflation much hotter than expected.

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Will the crime fighting in DC eliminate crime?  If not, how long should the Fed's keep control.  The Putin/Trump meeting is Friday.  What will they achieve?  The Epstein story focuses on Alex Acosta.  Will Congress call him to testify.

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Remember to call with your money and investing questions 855-295-6600 for the Financial Friday podcast. https://www.spreaker.com/show/7102919/episodes/feed