|
| | Hi Friend, On May 30, 2024, a Manhattan jury found former U.S. President Donald Trump guilty on 34 felony counts of falsifying business records related to hush money payments made to adult film star Stormy Daniels.
Following the verdict, Trump maintained his innocence in remarks to reporters, calling the trial "rigged" and "disgraceful", declaring "I'm a very innocent man". The trial was unfair and the judicial process was manipulated.
Trump made a defiant statement immediately after the verdict, raging against what he called a "rigged" and "corrupt" legal system and a "continuation of the greatest witch hunt of all time."
Trump lashed out at the verdict, calling it a "disgrace" and a "dark day for America." He maintained his innocence and vowed to appeal the decision, stating the case was a politically motivated "persecution" by his opponents.
Trump accused the prosecutors and the judicial system of being "corrupt" and claimed that the trial was a "travesty of justice." He alleged that the case was part of a broader effort to undermine his potential 2024 presidential campaign and prevent him from running again.
Trump's statement was met with strong reactions from both sides of the political aisle. House Speaker Mike Johnson condemned the verdict, calling it a "shameful day" and expressing concern over the implications for the rule of law.
On the other hand, Trump's critics praised the verdict as a victory for accountability and a testament to the strength of the legal system. The former president's conviction on felony charges marks an unprecedented moment in American history. He becomes the first former U.S. president to be convicted of felony crimes.
Media coverage of Donald Trump's hush money trial and conviction has been extensive but also marked by perceptions of bias. Conservative media outlets have largely echoed Trump's claims the prosecution was politically motivated, a "witch hunt" aimed at derailing his 2024 presidential campaign.
Supporters have focused on attacking the credibility of key witnesses like Michael Cohen and impugning the impartiality of the judge, jury, and prosecutors.
In contrast, left-leaning media sources have emphasized the gravity of the felony charges and the historic nature of a former president being convicted of crimes. They have delved into the tawdry details of the hush money scheme and Trump's alleged affairs, while spotlighting the strength of the prosecution's case and evidence.
"I'm a very innocent man," Trump said to news cameras awaiting him in the courthouse hallway. "The real verdict is gonna be Nov. 5, by the people. ... We'll fight to the end, and we'll win." |
| | | A Very Innocent Man Becomes A Felon ...
Around 4:15 p.m. Thursday, Donald Trump strode into a Manhattan courtroom, looking cheerful with his usual entourage of lawyers and advisers as he took his seat at the defense table. The judge said he would soon dismiss the jury for the day, and Trump sat whispering, smiling and laughing with attorney Todd Blanche, seemingly enjoying himself.
Then the judge revealed the jury didn't want to go home, just yet. They had reached a verdict, they just needed a few more minutes to finish filling out the lengthy form with all 34 counts.
Instantly Trump's demeanour changed. He crossed his arms, knitted his brow, puckered his lips, and prepared for judgment.
The sudden turnabout made for a dramatic end to the seven-week criminal trial that stands to define the current campaign and this entire chapter in American history. Trump becomes the first former president convicted of a crime and the first presumptive major party nominee running as a felon.
"It's okay, I'm fighting for our country," Trump told reporters in the courthouse hallway immediately after the verdict. "We'll fight till the end and we will win."
The Trump campaign is seeking to turn the verdict into a factor that hardens the intensity of his supporters, while they try to convince independents and even some Democrats the justice system is being used unfairly against him. The former president loves playing the role of the martyr or the victim.
"Yes, this is a big deal, and yes, this is unknown territory, but we've been through a lot of big deals and unknown territories with Donald Trump over the last decade and they end up not being a big deal," Republican strategist Terry Sullivan said. "Anybody who predicts this is the end of him hasn't been paying attention. He is really good at turning stuff like this into a positive. His messaging is the system is rigged, they're trying to keep me from being your nominee, this kind of plays into that narrative"
Republican politicians rushed to Trump's defense, with Sen. Tim Scott calling it "un-frigging believable" and Sen. Lindsey Graham warning, "It will be seen as politically motivated and unfair. It will backfire tremendously on the political Left."
On the other hand, Presidential historian Douglas Brinkley called the Republican embrace of Trump's conviction and turn against the legal process "staggering. A group of New York jurors deliberated and were able to determine right from wrong," Brinkley said. "It's a great moment for the founders of our republic, because they created a checks and balance system and the judicial branch still works."
In Court, Trump looked at the jury while they each individually affirmed that this was their verdict. Then they filed out past him, avoiding his gaze as he avoided theirs.
Blanche, Trump's lawyer, rubbed his face and ran his hand through his hair, then asked the judge, Juan Merchan, to throw out the verdict. Trump leaned back in his chair, rolling his eyes to look up at Blanche standing at the table in front of him. Judge Merchan declined to dismiss the verdict, then set sentencing for July 11, a week before Trump is set to formally accept the Republican nomination.
Outside court, Trump's words were familiar, criticizing the judge, the venue, the prosecutors, the system. This time he held his head a little lower, hissed a little more on the word disgrace, spat a little more as he repeated the word "rigged." Confirming "I am a very innocent man,".
"There's never been a president abused like me," Trump told donors at a private event last week, comparing his treatment to Andrew Jackson and Abraham Lincoln.
In private, Trump had often expressed surprise at being charged with felonies. "Can you believe it?" he has asked advisers. "I'm charged with felonies". Can you believe it?".
|
| | | This from John Authers Bloomberg. Donald Trump has just been found guilty of 34 felonies. This is a historic moment. If the political betting markets are to be believed, the presidential election campaign has shifted sharply in his favor during the trial. This is how RealClear Politics' average of the probabilities of Joe Biden or Trump winning the election have moved since the beginning of last year.
Less than 18 months ago, in the wake of midterm elections, Trump seemed to have very little chance. Since then, he has been indicted four separate times, and has been on trial in New York for the last six weeks. None of the indictments hindered his progress and may well have aided it.
The trial, for all the embarrassing revelations, appears to have given him an even bigger boost. Biden enjoyed a resurgence after his well-received State of the Union address. That has almost all been lost amid the boost for Trump in recent weeks. For the first time, bettors now put his chance of victory at better than 50%.
|
| So the Americans may opt for a President, who has challenged the U.S. electoral system, berated the legal system and demonstrated abuse of executive privilege. The executive, the legislative, the executive under threat from a President with fond affection for world dictators. Voters should be warned, If elected, for Trump, four more years may just not be enough.
That's all for now. Have a great weekend break ...
John
|
| To understand the markets, you have to understand the economics ...
|
| |
References This post relies on extracts from Axios Media, Bloomberg and the Washington Post. Certain content has also been generated using Perplexity AI. This is our favorite AI research tool. We use Perplexity AI, Neuroflash and Hyperwriter for creative content. Experimental and very limited at this time.
Photos are from The Washington Post and Shutterstock. Chart from Bloomberg.
|
| © 2024 John Ashcroft, Economics, Strategy and Financial Markets, experience worth sharing.
______________________________________________________________________________________________________________
The material is based upon information which we consider to be reliable but we do not represent that it is accurate or complete and it should not be relied upon as such. We accept no liability for errors, or omissions of opinion or fact. In particular, no reliance should be placed on the comments on trends in financial markets. The receipt of this email should not be construed as the giving of advice relating to finance or investment.
______________________________________________________________________________________________________________
If you do not wish to receive any further Saturday Economist updates, you can unsubscribe or update your details, using the buttons below or drop me an email at jkaonline@me.com. If you enjoy the content, why not forward to a friend, they can sign up here ...
_______________________________________________________________________________________
We have updated our privacy policy to address Europe's General Data Protection Regulation (GDPR). The policy changes include explaining in more detail how we use your information, including your choices, rights, and controls. We have published a GDPR compliance page about the regulation and the steps we have taken as part of our compliance process. Your privacy is important to us.
For details of our Privacy Policy and our Terms and Conditions check out our main web site. John Ashcroft and Company.com
_______________________________________________________________________________________________________________
Copyright © 2024 The Saturday Economist, All rights reserved. You are receiving this email as a member of the Saturday Economist Mailing List or the Dimensions of Strategy List. You may have joined the list from Linkedin, Facebook, Google+ or one of the related web sites. You may have attended one of our economics presentations. Our mailing address is: The Saturday Economist, Centurion House, 129 Deansgate, Manchester, M3 3WR.
|
| |
|
|
