kscarbel2

President Trump has declared a national emergency on electricity and doubled the tariffs on aluminum and steel from Canada after retaliatory tariffs. The president also threatened to permanently shut down the Canadian auto sector. He said the only thing to make his tariffs stop is for Canada to become the 51st state. The stock market crashed another 500 points as a result and the potential of a recession increases. The increase in tariffs, from 25% to 50%, goes into affect Wednesday. "Based on Ontario, Canada, placing a 25% Tariff on 'Electricity' coming into the United States, I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD." Ontario Premier Doug Ford put a 25% tariff on Canadian electricity to Michigan, New York and Minnesota on Monday in response to earlier tariffs from Trump. Ford is ready to shut the electricity off completely if the US continues to escalate. The president also warned more auto tariffs are coming on April 2nd. He wants Canada to drop its retaliatory tariffs on U.S. dairy and agricultural products. "If other egregious, long time Tariffs are not likewise dropped by Canada, I will substantially increase, on April 2nd, the Tariffs on Cars coming into the U.S. which will, essentially, permanently shut down the automobile manufacturing business in Canada. The only thing that makes sense is for Canada to become our cherished Fifty First State. This would make all Tariffs, and everything else, totally disappear."

Thousands of loans worth $312 million were granted to children during the COVID-19 pandemic, DOGE announced Saturday. It discovered that the Small Business Administration (SBA) had granted nearly 5,600 loans for $312 million to “borrowers whose only listed owner was 11 years old or younger at the time of the loan.” The loans were granted in 2020 and 2021. “While it is possible to have business arrangements where this is legal, that is highly unlikely for these 5,593 loans, as they all also used an SSN with the incorrect name.” DOGE made the announcement when it revealed the SBA had also issued 3,095 loans for $333 million in 2020 and 2021 to borrowers over 115 years old. “In 2020-2021, the SBA issued 3,095 loans, including PPP (Paycheck Protection Program) and EIDL (Economic Injury Disaster Loan), for $333M to borrowers over 115 years old who were still marked as alive in the Social Security database. In one case, a 157 years old individual received $36k in loans.” https://x.com/DOGE/status/1898587143796338826 https://x.com/DOGE/status/1897039724822315489

Director of National Intelligence Tulsi Gabbard has revoked the security clearances of former top Biden officials and the 51 former intelligence officials who signed the letter calling the Hunter Biden laptop Russian disinformation. Also, Biden is no longer receiving the President’s Daily Brief. Per @POTUS directive, I have revoked security clearances and barred access to classified information for Antony Blinken, Jake Sullivan, Lisa Monaco, Mark Zaid, Norman Eisen, Letitia James, Alvin Bragg, and Andrew Weissman, along with the 51 signers of the Hunter Biden “disinformation” letter. The President’s Daily Brief is no longer being provided to former President Biden. President Trump said the signatories “willfully weaponized the gravitas of the Intelligence Community to manipulate the political process and undermine our democratic institutions. This fabrication of the imprimatur of the Intelligence Community to suppress information essential to the American people during a Presidential election is an egregious breach of trust reminiscent of a third world country. And now the faith of Americans in all other patriotic intelligence professionals who are sworn to protect the Nation has been imperiled.” While Blinken did not sign the letter, former CIA Acting Director Michael Morell testified to the House Judiciary Committee on April 4 that Blinken, who was then a Biden campaign adviser, had called him about the laptop story, which triggered Morell to draft the letter.

https://www.politico.com/news/2025/03/10/john-kennedy-debt-limit-trump-agenda-00222755

It's time to begin selectively buying.

President Trump says the US economy faces “a period of transition,” deflecting concerns about the risks of an economic slowdown as his early focus on tariffs and federal job cuts causes market turmoil. Asked whether he’s expecting a recession this year, Trump said, “I hate to predict things like that. There is a period of transition, because what we’re doing is very big.”

https://www.politico.com/news/magazine/2025/03/10/navy-seals-congress-trump-00212473

John Podesta, Biden’s top climate czar, was in charge of doling out $375 billion in climate change spending, which had been sent to many charities founded only months ago. The New York Post wrote: The Biden administration funneled at least $20 billion dollars into environmental groups, most of which had only recently been founded. In one case, former Vice President Kamala Harris handed over a check for nearly $7 billion to Bethesda, Maryland, based group Climate United Fund, which does not appear in the IRS’s charities database, and has no federal filings. in 2024, EPA adviser Brent Efron was caught on video saying the EPA had rushed out its $20 billion in climate funding. “Get the money out as fast as possible before they [Trump administration] come in … it’s like we’re on the Titanic and we’re throwing gold bars off the edge.” EPA administrator Lee Zeldin is working with the FBI and DOJ on the eight groups tied to the “gold bars” scheme. Zeldin said “the director of the greenhouse reduction fund left an NGO to come to the Biden administration, becomes the director of the greenhouse reduction fund, and gave their former employer $5 billion.” One CEO who applied for a $20 million grant sat on the Biden White House environmental justice council, which had only received $3 million over the prior three years. The EPA has learned that $2 billion was set aside for a climate change group, Power Forward Communities, which is associated with Democrat Stacey Abrams, even though the organization had only reported $100 in revenue. “We want to reestablish more oversight controls. We want to have accountability over every penny. I want to have the ability to sit before Congress and you can ask me 20 of your top questions, and I want to have answers for every single one of them on top of my head,” says Zeldin.

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“I’m like, actually, if you just literally took Clinton’s words and Gore’s words, they’re the same words we’re using, almost identical,” Musk said. “So, I mean Clinton and Gore sound like what would today be called far-right Republicans by saying, ‘Yes, we need to, you know, not have crazy deficits, and we do have sensible spending.’ That’s what they were saying — we’re saying the same thing.” https://www.yahoo.com/finance/news/elon-musk-defends-doge-cuts-184540974.html

The head of the FBI's New York field office, James Dennehy, has retired from the bureau after being directed to do so. This is the field office which initially did not provide the Epstein files to Pam Bondi.

OPEC+ has finally decided to go through with its long-delayed oil production increase, adding 138,000 barrels per day to its production plans beginning in April. It’s the first output hike for OPEC since 2022, marking a cautious step toward unwinding the 2.2 million bpd in cuts the cartel has been clinging to like a security blanket. The decision comes as President Trump renews his calls for lower oil prices, pressuring Saudi Arabia and its allies to pump more. With crude hovering around $71 per barrel and a volatile mix of geopolitical and economic uncertainty in play, including U.S. sanctions on Russia, Iran, and Venezuela, plus a looming global tariff war, OPEC+ didn’t have an easy time deciding this move. The OPEC announcement tanked US oil stocks yesterday and today.