Wednesday, August 28

ByKevin Sheekey

Breaking Brexit News: Queen Elizabeth II Approves Boris Johnson’s Parliament Suspension Request (Bloomberg)

A devil’s bargain: Capitalist chaos or socialism? Boris rolls the dice on the UK’s future and appears to have denied Parliament time to block a no-deal Brexit.

Legislators could still call for a no-confidence vote in the Prime Minister, but Boris appears to be betting that Westminster would rather risk crashing out of the EU than the risk of a new government run by Labour leader Jeremy Corbyn.

More: Johnson Throws Curve Ball Into London Bankers’ Brexit Preparations (Bloomberg)

How Brexit Could Unleash a U.K. Constitutional Crisis (Bloomberg QuickTake)

Recession Watch: Dollar Rising Into a Possible U.S. Recession Could Be a Bad Omen (Bloomberg)

China’s Currency Is Weakening as the Trade War Drags On (New York Times)

Front Page: How Emmanuel Macron Positioned Himself as Star of the G7 Show (New York Times)

Former New York Fed President: The Fed Shouldn’t Enable Donald Trump’s Trade War (Bloomberg Opinion – Bill Dudley)

“Officials could state explicitly that the central bank won’t bail out an administration that keeps making bad choices on trade policy, making it abundantly clear that Trump will own the consequences,” Dudley wrote.

The Washington Post called it an ‘extraordinary broadside,’ and reported that the remarks “ignited a fierce debate Tuesday over how the Fed should navigate the treacherous economic and political waters it faces.”

Trump Administration to Divert FEMA Disaster Relief Funds to U.S.-Mexico Border (Washington Post)

House Speaker Nancy Pelosi called the administration’s action “stunningly reckless.”

Opinion: Donald Trump Has Worn Us All Out – Maybe Our Exhaustion Spells His End (New York Times – Frank Bruni)

2020 National Poll: Americans Dread 2020 Election and Have Doubts About Outcome; Biden Maintains Primary Lead at 32% (USA Today)
Biden 32 (+2)
Warren 14 (+4)

Sanders 12 (-3)
Buttigieg 6 (-3)
Harris 6 (-2)

Guns in America.

Senate Push: Gun Safety Advocates Air Ad to Pressure McConnell and Other GOP Senators (Washington Post)

The group behind the ads, Everytown for Gun Safety Action Fund (founded and funded by Mike Bloomberg), is spending $350,000 on the television spots, which will run on national morning news shows as well as local broadcasts in Kentucky, Colorado and Florida. The ad targeting Senator Marco Rubio will also air in Spanish.

Today in Financial Empowerment.

Low Income Detroiters Offered Free Financial Counseling (Detroit News)

Financial empowerment centers, first pioneered in New York City under Mayor Michael Bloomberg, are now expanding thanks to a three year multi-million dollar investment by Bloomberg Philanthropies.

Climate today.

Best of late night.

On President Trump asking aides if it was possible to stop hurricanes from hitting the US by ‘nuking’ them:

“Sources at the White House say that multiple times President Trump has asked if a nuclear bomb can stop a hurricane. Yeah, luckily every time he asked, his 13-year old son told him ‘no.’”
— Conan O’Brien

“After President Trump asked about dropping a nuclear bomb on a hurricane, people pointed out that that was a plot line from the movie ‘Sharknado’. It’s true! Trump is now pitching us an idea from Sharknado. So folks, let’s just hope Trump never sees ‘The Human Centipede’.”
— Conan O’Brien

On Burger King’s new “Impossible Burger” line:

“Burger King is now selling the “Impossible Whopper”; a totally meatless burger, at all of its locations. They’re actually using some new slogans to advertise the arrival, like: ‘The old Whoppers didn’t have meat in them either!’ And, ‘Finally there’s something healthy to eat with your french fries and 64 ounces of Coke!’”
— Jimmy Fallon

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