Why it’s time really worry about Trump in two charts

Why it’s time really worry about Trump in two charts. Donald Trump got elected president by telling his voters an uncomplicated story with an easy-at-hand cast of villains and scapegoats, two of which occupied a particularly prominent role: immigrants and China.

Now Trump is making perhaps his most outsize moves yet to translate that tale into policy reality, and those efforts are completely untethered from real-world policy complexity in one case, and from reality in the other. Here are two charts that help demonstrate this.

The first is about Trump’s imminent trade war with China. It’s from the Brookings Institution, and it shows the number of 2016 jobs in all the industries targeted by China’s new round of threatened tariffs

about Trump’s


This Brookings analysis, which is based on Emsi and Bureau of Labor Statistics data, shows the number of jobs in industries that have been targeted by China’s latest announcement of a second round of retaliatory tariffs, which include soybeans, cars and planes.

This comes after the first round of China’s threatened tariffs on a far more limited range of products, including fruit, tree nuts and hog farming. Both rounds came in response to Trump’s own escalated tariff threats. In an earlier analysis, Brookings calculated that the first round of China tariffs targeted nearly 276,000 jobs - nearly 150,000 in counties carried by Trump and just over 125,000 in counties carried by Hillary Clinton. [ Read more ]

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San Jose mayor admits failures in flood evacuation

San Jose mayor admits failures in flood evacuation. The mayor of San Jose acknowledged that the city failed to properly notify residents to evacuate during a flood emergency early Wednesday when some people said they got their first notice by seeing firefighters in boats in the neighborhood.

City officials ordered more than 14,000 residents to leave their homes as water from swollen Coyote Creek flooded homes and temporarily shut down a portion of a major freeway. Another 22,000 people near the creek were encouraged but not required to evacuate.
images San Jose mayor admits failures in flood evacuation

"If the first time a resident is aware that they need to get out of their home is when they see a firefighter in a boat, that's a failure," Mayor Sam Liccardo said at a news conference. "We are assessing what happened in that failure."

Liccardo declined to go into detail, saying there would be time for reflection after the emergency was over.

"We've got to address the needs of the families who have been displaced first. We'll have a lot of time to analyze what went wrong," he said.

The city began alerting residents of the flood situation on Tuesday via social and mainstream media and sending emergency alerts to those who had signed up for it, said city spokesman Dave Vossbrink. When water levels changed dramatically overnight, they sent police and firefighters door-to-door during the dramatic overnight evacuation.

"It was scary," said Irma Gonzalez, 59, whose two-story apartment complex is alongside the creek. She was awakened about 2:30 a.m. by police pounding on her door. "They were like, 'You've got to hurry up and go! Move it!"

Gonzalez spent the night at her sister's house and said she was thankful for the wakeup call and evacuation. "It's better than to wake up and have water coming in."

Resident Sandy Moll said she had prepared for about a foot of water, but the flooding spilled over sandbags stacked 3 feet high and broke down her back door. Moll told the Mercury News in San Jose (http://bayareane.ws/2mcmIFD ) she was angry at the lack of warning.

"I'm seething," she said. "It's the lack of information and forewarning when they had to have known. They never even said you need to prepare for a major flood."

Bob Benjamin, a meteorologist with the National Weather Service, said the water level in Coyote Creek reached a 100-year high during this week's storm.

The floodwaters were receding Wednesday but the mayor said it would be at least another day before residents would be allowed to return home.

Assistant City Manager Dave Sykes said officials first became aware of the rising water late Tuesday when firefighters began evacuating about 400 people from a low-lying residential area.

City officials did not believe the waters would spread to other neighborhoods and did not expand the evacuation orders.

About 300 people stayed in emergency shelters set up by the city, while many found other accommodations.

Coyote Creek flooded after Anderson Dam in Santa Clara County reached capacity during heavy weekend rains.(source)

China, US and Japan top borrowers as global official debt hits new record high

China, US and Japan top borrowers as global official debt hits new record high. Worldwide sovereign debt is set to reach a new record high of US$44 trillion this year despite a slight reduction in governments’ annual borrowings, an estimate from credit ratings agency S&P Global said on Friday.

The firm calculated that this year’s sovereign borrowing was likely to be US$6.8 trillion, down around 4 per cent or US$315 billion on 2016’s amount and to 9 per cent of global GDP.
Absolute debt levels will continue to increase however. S&P projects a rise to US$44.3 trillion at projected market exchange rates.

images China, US and Japan top borrowers as global official debt hits new record high

The United States at US$2.2 trillion and Japan at over US$1.8 trillion, will again be the most prolific borrowers this year, accounting for 60 per cent of the total, followed by China, Italy, and France.
S&P’s chief sovereign analyst Moritz Kraemer said using the idea of a calendar gave a perspective of the huge scale of US borrowing.

If it were distributed evenly across the year, US issuance “would have already covered Switzerland’s 2017 borrowing needs at lunchtime on January 1; Brazil’s on January 30, and Italy’s on February 17,” Kraemer said.

With the exception of Japan, it would then have passed China’s and also the rest of the world’s by February 28.

Britain’s post-Brexit double downgrade will mean the percentage of world debt now with a top grade ‘triple-A’ rating will fall to an all-time low of just 7 per cent down from around 13 per cent a year ago.

S&P’s calculations also showed Japan faces by far the highest debt rollover ratio this year, reaching a sum equivalent to 66 per cent or two thirds of the size its economy.
Japan had the highest debt levels in the world at 254 per cent of GDP in 2016, followed by Greece and then Lebanon at 142 per cent. (source)

Jim Rogers Positioned for Global Financial Meltdown

Jim Rogers Positioned for Global Financial Meltdown

Jim Rogers Positioned for Global Financial Meltdown. Renowned investor Jim Rogers says the markets could be in for a “good time” if President Trump delivers on his promises to cut taxes and regulation and build up U.S. infrastructure.
“So far he’s said some good things,” Rogers told the FOX Business Network. “He said he’s going to cut taxes, he says he’s cutting regulations, he says he’s going to build infrastructure—all of that is great.”

During an interview on Mornings with Maria just a day earlier, Treasury Secretary Steven Mnuchin said the prospect of Trump’s economic policies Opens a New Window. have led to gains in the stock market and U.S. dollar, but Rogers said he’s “long” on the dollar based on his view that Trump could potentially start a trade war and create chaos in the financial markets.

“I am long on the dollar because I expect turmoil in world financial markets and people are looking for a safe haven,” he said. “It’s going to get overpriced; it might even turn into a bubble.”. (source)