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Politics

Administrator Bridenstine: “We Are Going” to the Moon and Mars

President Donald Trump’s fiscal year (FY) 2020 budget amendment aims to land Americans on the South Pole of the Moon by 2024, and to establish a sustained presence by 2028. It is the latest supportive act in the Trump Administration’s ambitious effort to revamp national space exploration.

NASA Administrator Jim Bridenstine addressed employees in a video on Monday, highlighting how President Trump supports accelerated plans to land astronauts on the Moon by 2024.

“This investment is a downpayment in NASA’s efforts and will allow us to move forward with design, development and exploration,” Administrator Bridenstine said. “Additionally, we envision strong commercial partnerships that will help increase innovation and reduce costs to the American taxpayer.”

He thanked employees for their dedication that has “pressed us on to the Moon and forward to Mars.”

“We are going.”

While it hasn’t received much media attention, President Trump has established himself as a consequential figure in space exploration. In his first 100 days, he signed the National Aeronautics and Space Administration Transition Authorization Act of 2017.

Then-acting NASA Administrator Robert Lightfoot said it was vital for “our nation’s space, aeronautics, science, and technology development programs to thrive.”

In June 2017, the President revived the National Space Council for the first time in 24 years, and empowered them to help implement his space policy to make human exploration of the solar system a national priority. Vice President Mike Pence serves as the chair of the National Space Council.

The focus on space exploration and defense is part of the “America First” agenda. In December 2017, President Trump signed Space Policy Directive-1, establishing a public-private partnership for human missions to the Moon, Mars and beyond.

As a result, NASA said they can send “astronauts to the Moon and then on to Mars, in a measured, sustainable way.” The directive builds on NASA’s Space Launch System rocket and Orion spacecraft, increases commercial partnerships, and cooperative work with international partners at the International Space Station in low-Earth orbit.

Administration Bridenstine said the additional $1.6 billion demonstrates President Trump has “extended his vote of confidence” in the progress NASA has made thus far.

“Among other things, will allow us to accelerate development of the Space Launch System and Orion,” he said. “It will support the development of a human lunar landing system and it will support precursor capabilities on the lunar surface, including increased robotic exploration of the Moon’s polar regions.”

In May 2018, President Trump signed Space Policy Directive–2, which reforms U.S. commercial space regulatory framework with a goal to ensure the nation maintains its role as a leader in space commerce.

In February 2019, he signed Space Policy Directive-4 instructing Secretary of Defense Patrick M. Shanahan (acting) to develop a legislative proposal establishing the U.S. Space Force as the sixth branch of the Armed Forces.

NASA FY 2020 Budget Amendment Summary

NASA-FY-2020-Budget-Amendment-SummaryDownload

NASA Administrator Jim Bridestine’s Full Remarks:

As you know, the President has given our agency the bold challenge to land the next American on the lunar South Pole by 2024. And now President Trump has extended his vote of confidence in our work with an amended budget request for fiscal year 2020. It includes $1.6 billion in additional funding. This investment is a downpayment in NASA’s efforts and will allow us to move forward with design, development and exploration. Among other things, it will allow us to accelerate development of the Space Launch System and Orion. It will support the development of a human lunar landing system and it will support precursor capabilities on the lunar surface, including increased robotic exploration of the Moon’s polar regions. While there are many steps ahead in the budget appropriations process, all of us at NASA should be very proud and excited by this unique opportunity. Our efforts will include new work at NASA centers to provide key technologies and scientific payloads for the gateway and lunar surface, adding to efforts that are already underway all across our country. Additionally, we envision strong commercial partnerships that will help increase innovation and reduce costs to the American taxpayer. I challenge you, the NASA family, to share with your family and friends how investment over 60 years in our agency has improved the human condition through science, exploration and innovation. Exploring the Moon is the next step in our agency’s story and it will be to the benefit of all of us. We are at a moment of opportunity, together.

Administrator Bridenstine: "We Are Going" to the

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On Liberty Never Sleeps, Tom talks subjects that illustrate the failings of the liberal narrative and the mainstream media.

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Markets

Wall Street at the New York Stock Exchange (NYSE), the world's largest stock exchange by market capitalization of listed companies. (Photo: AdobeStock)
Wall Street at the New York Stock Exchange (NYSE), the world’s largest stock exchange by market capitalization of listed companies. (Photo: AdobeStock)

U.S. equities began the week on defense as investors accelerated their de-risking posture, which last week was just an on-again, off-again maneuver.

On Monday, alone, Major Market Averages doubled their declines from last week in reaction to a retaliatory hike in tariffs by China, an unclear timetable for future trade talks, heightened tensions Iran, and a Hot Mess in the IPO market.

The Dow Jones Industrial Average (^DJI) and S&P 500 (^SPX) each lost -2.4%, more than matching their declines of -2.2% last week. The NASDAQ Composite (^IXIC) followed suit, losing -3.4%, slightly more than its -3% selloff from all of last week.

The (^DJI) at 25325 has declined -5% from its 2019 high of 26656.39 on April 23. On Monday, the Dow posted its lowest close since the February 11 close at 25053.11. It’s likely the (^DJI) is setting up another test of support at the 25000 benchmark this week.

The (^SPX) at 2811.87 has declined -4.5% in six trading days from its ATH of 2945.64 on May 3rd; a marker shared with 2945.83 (excluding the decimal) from April 30. This was the lowest close for the S&P 500 since March 25 when it settled just below the 2800 level at 2798.36.

The (^IXIC) settled at 7647.02, its lowest close since 7637.54 on March 25 (same as the S&P). The Nasdaq has given up -6.3% in six trading days since posting an ATH of 8164.00. Monday was its largest one day decline; -269.92 or -3.4%, in 2019.

More Issues than Trade with China

While resolving the trade dispute with China is and will continue to be the dominant market issue this year, there are other headlines competing for attention and market impact.

The apparent sabotage, or attack, on a couple of Saudi oil tankers near the Strait of Hormuz, as lame as it might have been, is certainly not a good optic for stability in the global oil market. Iran, or one of its nefarious proxies, is likely the culprit here, while clearly feeling increased stress from recently heightened sanctions from the U.S. and its allies.

The aftermath of the debacle from the UBER IPO last Friday is still up for debate. While Uber Technologies Inc (UBER) has declined -17.5% from its IPO price of $45.00 in its first 2 days of trading, it almost pales in comparison to LYFT Inc (LYFT) at $48.11 losing one third of its value since their IPO 6 weeks ago.

The market reception of these two highly anticipated IPOs has certainly called into question the prospects for additional so-called Unicorn IPOs in the pipeline; Slack Inc., and WeWork, just to name a couple.

It’s worth noting that numerous other IPOs in this cycle have been very well received, as both Pinterest (PINS) and Zoom Media (ZM) are trading at least +50% above their IPO pricing. One clear distinction is that Zoom went profitable shortly before its IPO process began, while UBER stated very clearly in its prospectus that it cannot provide any guidance on when, or IF it may become profitable…….Buyer Beware.

The Early Line

While stock index futures are looking for a moderately higher opening 90 minutes before the opening of cash trading, These early indications from the futures markets have been very subject the last 2 weeks. Of course should we get a higher opening, the key indicators to watch will be market breadth, given the adv/decline stats running at a negative 5 to 1 clip yesterday, and whether the (^SPX) can hold the 2800 level on any waves of selling that may hit the market intraday.

On Monday, Major Market Averages doubled their

Politics

John Durham Has Long History of Investigating IC Wrongdoings, Including Corrupt FBI Under Robert Mueller

John H. Durham, the 52nd U.S. Attorney for the District of Connecticut. (Photo: Courtesy of the Justice Department)
John H. Durham, the 52nd U.S. Attorney for the District of Connecticut. (Photo: Courtesy of the Justice Department)

Attorney General William Barr assigned U.S. Attorney John H. Durham in Connecticut to investigate the origins of and potential wrongdoings in the Russia probe. The appointment comes shortly before the expected release of the review conducted by Inspector General Michael Horowitz.

U.S. Attorney Durham, the 52nd U.S. Attorney for the District of Connecticut, has a long history of serving as a special prosecutor and investigating the wrongdoings of national security officials. That includes the Federal Bureau of Investigation (FBI) and Justice Department (DOJ).

From 1998 to 2008, he served as a Special Attorney for the District of Massachusetts and Head of the Justice Task Force. Then-U.S. Attorney General Janet Reno appointed Mr. Durham to review alleged criminal conduct by FBI personnel and law enforcement corruption in Boston.

He led the prosecution of former FBI Supervisory Special Agent John J. Connolly Jr. and a former Massachusetts State Police Lieutenant, both of whom were tied to James “Whitey” Bulger.

From 2008 to 2012, Mr. Durham also served as the Acting U.S. Attorney for the Eastern District of Virginia. In 2008, he was appointed by then-Attorney General Michael Mukasey to investigate the destruction of videotapes of detainee interrogations by CIA. In 2009, then-Attorney General Eric Holder appointed Mr. Durham to investigate the CIA’s use of so-called “enhanced interrogation techniques.”

President Donald Trump and Republican lawmakers have long called for the investigation. The entire upper echelon of the FBI and DOJ have been removed, either by firing, prosecution or resignation.

Inspector General Horowitz, who previously reviewed the handling of the investigation into Hillary Clinton’s use of a private email server, has been investigating the Obama Administration’s conduct relating to the genesis of the Russia probe. He referred former and now-fired FBI deputy director Andrew McCabe to the U.S. Attorney in D.C. for criminal prosecution.

Mr. Horowitz said in his testimony before Congress in June 2018 that he was even more concerned by the preliminary findings in the review of the department’s handling of the Russia investigation.

Peter Strzok, the former head of counterintelligence at FBI who was at the center of the probe pivot from Midyear Exam (Clinton case) to Crossfire Hurricane (Russia), was fired shortly after. Lisa Page, FBI lawyer and Mr. Strzok’s lover, resigned in disgrace alongside FBI general counsel Jim Baker.

Attorney General Barr said in testimony before a U.S. Senate committee on April 10 that he does “think spying did occur” in the 2016 election.

“I think spying on a political campaign is a big deal,” Mr. Barr said in a back and forth exchange with Senator Jeanne Shaheen, D-N.H., who asked if he believed the FBI spied on members of the Trump campaign.

“Yes, I think spying did occur,” he responded. “But the question is whether it was predicated, adequately predicated.”

The remarks were made during Attorney General Barr’s first appearance before lawmakers since he released “principle conclusions” summarizing the findings of Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 election.

On March 22, the Special Counsel concluded his investigation and submitted his confidential report to Attorney General Barr per department regulations.

At a press conference with Deputy Attorney General Rod Rosenstein, Attorney General Barr said “the bottom line” is the Special Counsel found no evidence of collusion and no corrupt intent to support obstruction of justice.

“As the report states: ‘[T]he investigation did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities,’” Attorney General Barr said.

“After carefully reviewing the facts and legal theories outlined in the report, and in consultation with the Office of Legal Counsel and other Department lawyers, the Deputy Attorney General and I concluded that the evidence developed by the Special Counsel is not sufficient to establish that the President committed an obstruction-of-justice offense.”

As People’s Pundit Daily (PPD) first reported in March 2017, and has repeatedly reported since, officials at FBI and DOJ used the cover of a counterintelligence investigation to spy on members of the Trump campaign.

Section 702 of the Foreign Intelligence Surveillance Act (FISA) allows intelligence agencies to collect information on foreign targets abroad. However, as PPD also previously reported, it has been “routinely” abused and misused to spy on domestic targets, including President Trump, his associates and other U.S. citizens.

Heavily-redacted documents used to justify the FISA warrant application to spy on Carter Page confirmed crucial details of the memo largely prepared by Rep. Devin Nunes, R-Calif., then the Chairman of the House Permanent Select Committee on Intelligence (HPSCI).

That includes the allegation that the FBI and DOJ relied upon the infamous and now discredited dossier put together by former MI6 British intelligence agent Christopher Steele.

Numerous reports and witness testimony also indicate the FBI attempted to plant confidential informants within the campaign’s circle during the investigation.

Attorney General William Barr assigned U.S. Attorney

Economy

‘Real’ Economy Booming, Skills Gap Remains Single Most Important Business Problem

A team of millennial business owners collaborating on an online project using a touchpad tablet in a modern office space. (Photo: AdobeStock/AYAimages)
A team of millennial business owners collaborating on an online project using a touchpad tablet in a modern office space. (Photo: AdobeStock/AYAimages)

The National Federation of Independent Business (NFIB) Small Business Optimism Index gained a solid 1.7 points in April to 103.5, an elevated reading that beat the high end of the forecast range. The consensus forecast was looking for a more modest gain to 102.4.

PriorConsensus ForecastForecast RangeActual
Small Business Optimism Index101.8 102.4 101.0 — 103.4 103.5

The survey results for April are strong across the board. Inventory, which was identified as the weakness in the last report, rebounded solidly and sales continued to improve. Profit trends posted a very solid gain, as did job creation plans, while hiring remained strong and expectations for sales, business conditions, and credit conditions all improved.

“America’s small and independent businesses are rebounding from the first quarter ‘shut down, slow down’ and don’t appear to be looking back. April’s Index is further evidence that when certainty and stability increase, so do optimism and action,” said NFIB President and CEO Juanita D. Duggan. “The continued economic boom is thanks, in a major way, to strong growth in the small business half of the economy.”

The net 9% reporting higher nominal sales in the past three months, which is a four-point gain, and the net 20% of owners expecting higher real sales volumes is consistent with the strong 3.2% annual rate of growth for gross domestic product (GDP) in the first quarter (Q1) 2019.

That rate of growth, which was far stronger than expected, was largely the result of trade policy reducing the deficit to $50 billion and a build in inventories. Naysayers said both could not continue, but they are.

The net percent of owners planning to expand inventories saw a 3-point gain. That not only suggests strong sales gains are catching up to the excessive Q1 inventory build but also owners are ready to place new orders and rebuild inventory.

“The ‘real’ economy is doing very well versus what we see in financial market volatility. Many jobs are being created, and GDP produced with no substantive inflation pressure,” NFIB’s Chief Economist Bill Dunkelberg said. “The pace of economic growth has accelerated, and consumers and small businesses are an important part of the improvement in sales.”

People’s Pundit Daily (PPD) has highlighted the skills gap as the top issue for the labor market since it replaced the tax and regulatory environment under the previous administration.

That challenge continued in April.

Twenty-four percent (24%) cited the difficulty of finding qualified workers as their Single Most Important Business Problem, which is just 1 point below the record high. Fifty-seven percent (57%) reported hiring or trying to hire (down 3 points), but 86% of those hiring or trying to hire reported few or no qualified applicants for the positions they were trying to fill. Thirty-eight percent (38%) of all owners reported job openings they could not fill in the current period, down 1 point from the record high.

Another 4% reported that all their borrowing needs were not satisfied, up 1 point but still historically very low. Two percent (2%) said that financing was their Single Most Important Business Problem (up 1 point) compared to 24% citing the availability of qualified labor, 16% citing taxes. Only 15% cited regulations and red tape, a complete reversal from conditions under the Obama Administration.

Meanwhile, the monthly employment report found wages rose in excess of 3% for the ninth consecutive month in April, and rose at or above 3% for the first time in Q4 2018 since before the Great Recession.

The Small Business Optimism Index continues to report rising compensation at historically high levels, with higher worker compensation rising 1 point to a net 34%. Plans to raise compensation were unchanged at a net 20%.

The NFIB Small Business Optimism Index gained

Politics

Justice Kavanaugh Joins Liberals in SCOTUS Decision Allowing iPhone Users to Sue for Antitrust Violations

The Supreme Court of the United States (SCOTUS). (Photo: AdobeStock/bbourdages)
The Supreme Court of the United States (SCOTUS). (Photo: AdobeStock/bbourdages)

The U.S. Supreme Court on Monday ruled iPhone users purchased apps directly from against Apple, Inc. (AAPL) and thus can sue for antitrust violations. They allege that Apple has monopolized the retail market for apps and has unlawfully used its power to charge consumers higher prices.

In a 5-4 decision affirms the ruling of the Ninth Circuit Court of Appeals. Worth noting, the Court did not decide the merits of the antitrust claims against Apple or any other defense. The opinion simply states Apple cannot rely on the direct-purchaser rule established by Illinois Brick as a defense.

Justice Brett Kavanaugh joined liberal Justices Ruth Bader Ginsburg, Stephen Breyer, Sonia Sotomayor, and Elena Kagan for the majority. Justice Neil Gorsuch dissented, and was joined by Chief Justice John Roberts, Justice Clarence Thomas, and Justice Samuel Alito.

Ever since Congress overwhelmingly passed and President Benjamin Harrison signed the Sherman Act in 1890, “protecting consumers from monopoly prices” has been “the central concern of antitrust.” 2A Areeda & Hovenkamp ¶345, at 179. The consumers here purchased apps directly from Apple, and they allege that Apple used its monopoly power over the retail apps market to charge higher-than-competitive prices. Our decision in Illinois Brick does not bar the consumers from suing Apple for Apple’s allegedly monopolistic conduct. We affirm the judgment of the U. S. Court of Appeals for the Ninth Circuit.

Associate Justice Brett Kavanaugh for the majority in Apple Inc. v. Pepper et al.
APPLE-INC-v-PEPPER-ET-ALDownload

The U.S. Supreme Court on Monday ruled

Video

On Liberty Never Sleeps, Tom explains how the leftwing is intent on reinventing America as a feudalistic nation and destroying freedom by turning everyone into automatons for the state.

The money pledged thru Patreon.com will go toward show costs such as advertising, server time, and broadcasting equipment. If we can get enough listeners, we will expand the show to two hours and hire additional staff.

To help our show out, please support us on Patreon.

All bumper music and sound clips are not owned by the show, are commentary, and of educational purposes, or de minimus effect, and not for monetary gain.

No copyright is claimed in any use of such materials and to the extent that material may appear to be infringed, I assert that such alleged infringement is permissible under fair use principles in U.S. copyright laws. If you believe material has been used in an unauthorized manner, please contact the poster.

On Liberty Never Sleeps, Tom explains how

Economy

Trump: “There Is Absolutely No Need to Rush”

Graphic concept for U.S.-China trade war, tariffs on imports and exports. (Photo: AdobeStock)
Graphic concept for U.S.-China trade war, tariffs on imports and exports. (Photo: AdobeStock)

On Friday, the U.S. hiked tariffs on China from 10 percent to 25 percent, a sharp increase worth more than $200 billion amid ongoing trade negotiations. At 9:00 AM EST, the world’s largest and second largest economies will resume talks.

“Talks with China continue in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products,” President Trump tweeted early Friday morning. “These massive payments go directly to the Treasury of the U.S.”

The Chinese vowed to retaliate.

“China deeply regrets that it will have to take necessary countermeasures,” China’s Ministry of Commerce said in a statement.

While Wall Street and D.C. have largely opposed President Donald Trump’s tariff strategy, it is clearly working to reduce the trade gap between the two nations.

On Thursday, the U.S. trade deficit rose only $0.7 billion to just $50.0 billion in March, less than expected and beating the consensus forecast. The historically narrow gap comes after two sharp consecutive declines in the trade deficit.

Year‐over‐year, the average goods and services deficit fell $1.9 billion, as average exports increased $4.7 billion and average imports increased by just $2.7 billion.

The politically-sensitive U.S. trade deficit with China fell $1.9 billion to $28.3 billion in March. Exports rose $1.4 billion to $10.5 billion and imports fell $0.5 billion to $38.8 billion.

In Shanghai, the SSE Composite Index (^SSE) closed +88.26, or 3.10% to 2,939.21. On Thursday, the Dow Jones Industrial Average (^DJI) closed −138.97, or 0.54% at 25,828.36.

But the U.S. economy has proven far more resilient than the Chinese economy throughout trade negotiations. In 2018, the U.S. economy grew 3.0% (Q-Q), an annual rate of growth that was elusive under the previous administration.

“Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch!” President Trump added in a tweet. “In the meantime, China should not renegotiate deals with the U.S. at the last minute. This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with “murder!”

The Bureau of Economic Analysis (BEA) “advance” estimate for first quarter (Q1) 2019 gross domestic product (GDP) came in at a 3.2% seasonally-adjusted annual rate (SAAR). Real GDP rose 2.2% in Q4 2018 and by 2.2% in Q1 2018.

“The last trade deficit report coming in below -$50B was a bigger deal than expected,” Tim Anderson at TJM Investments said. He noted the narrowing of the trade gap added more than 1% alone to Q1 2019 GDP.

Meanwhile, the Chinese economy, which was already expected to slow in 2019, was feeling the pain from 15% tariffs. In January, before the tariff increase was postponed, an analysis firm specializing in the Chinese economy said a hike would be “excruciating.”

“If tariffs escalate further after 1 March, the added pressure on the Chinese economy will prove excruciating,” Shehzad Qazi, managing director of China Beige Book International told The Guardian.

On Friday, the U.S. hiked tariffs on

Politics

Patrick M Shanahan Defense Department
Patrick M. Shanahan became the Acting Secretary of Defense on January 1, 2019. Prior to this assignment, he served as the 33rd Deputy Secretary of Defense, appointed on July 19, 2017. (Photo: Courtesy of the U.S. Defense Department)

President Donald Trump intends to officially nominate Acting Secretary Patrick Shanahan as the official head of the U.S. Defense Department.

The former deputy defense secretary took over as acting secretary of defense on January 1, after President Trump accepted the resignation of General James Mattis.

“Based upon his outstanding service to the Country and his demonstrated ability to lead, President Trump intends to nominate Patrick M, Shanahan to be the Secretary of Defense,” White House Press Secretary Sarah Sanders said in a statement. She added, “Acting Secretary Shanahan has proven over the last several months that he is beyond qualified to lead the Department of Defense, and he will continue to do an excellent job.”

The Trump Administration has always been a push-and-pull between the more interventionist wing of the Republican Establishment and the “America First” wing represented by the President.

Eight months before General Mattis resigned, President Trump told his national security team in the Situation Room that U.S. troops must come home from Syria. The primary objective, at least publicly, had been the defeat of ISIS, or the Islamic State.

But the decision was made without the consent or support of his more hawkish advisors, who also support the effort to use the civil war as a predicate for regime change to remove Syrian President Bashar al-Assad.

They were concerned a similar announcement regarding Afghanistan was imminent, to include General Mattis. Acting Secretary Shanahan has backed the effort to include the Taliban in the Afghan Peace Talks, which privately officials say is making “significant progress” even amid considerable challenges.

In late April, the U.S., China and Russia reached an 8-point consensus during the Trilateral Meeting in Moscow.

I believe Acting Secretary of Defense Shanahan is a logical choice to become the next Secretary of Defense,” Senator Linsey Graham, R-S.C., tweeted. “He has demonstrated to me his detailed understanding that a strong, modern, and well-trained military is essential in a dangerous and complex world.”

Acting Secretary Shanahan spearheaded the Joint Artificial Intelligence Center (JAIC) and is the father of the DoD AI Strategy. The unclassified summary of this Strategy was released in Feb 2019 following President Trump’s Executive Order on AI (Maintaining American Leadership in AI).

He also launched two National Mission Initiatives: predictive maintenance and humanitarian assistance/disaster relief. It’s also worth noting that he has been an ally to President Trump on border security.

Under Secretary Shanahan, the Pentagon approved the transfer of $1 billion to construct 57 miles of 18-foot high border in March, and just this week announced the U.S Army Corps of Engineers will build another 256 miles.

Patrick M. Shanahan became the Acting Secretary

Video

Joe Biden, former vice president and 2020 Democratic candidate, said the U.S. has an “obligation” to provide healthcare to “undocumented” immigrants.

“I think that anyone who is in a situation where they’re in need of healthcare, regardless of whether they are documented or undocumented, we have an obligation to see that they are cared for,” he said at a campaign stop in Los Angeles on Wednesday. “That’s why I think we need more clinics around the country.”

Joe Biden, former vice president and 2020

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