Trump 101: What he reads and watches - Axios
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Trump 101: What he reads and watches

Photo Illustration Greg Ruben / Axios

President Trump spends substantial time and energy ridiculing the media. He spends even more time consuming —and obsessing about — it.

Print copies of three newspapers. When Billy Bush was on, "Access Hollywood" every night. TiVo of the morning and evening news shows so he can watch the tops of all of them. Always "60 Minutes." Often "Meet the Press." Lots of New York talk radio.

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Ryan to DREAMers: relax

J. Scott Applewhite / AP

When asked by Greta van Susteren on her MSNBC show tonight if DREAMers can count on him:

They don't have to worry. We're focused on physical security of the border, we're focused on those who are coming to do us harm, from terrorist states and things like that. That is our focus, and it's on criminal aliens. People who are violent criminals who have not been deported. Those are the things the President said he's going to focus on. That's the legislation he's asked us to focus on for the moment, and that's what we're dealing with.
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McConnell's low expectations frustrate House conservatives

J. Scott Applewhite / AP

After Senate Leader Mitch McConnell spoke to House Republicans in Philadelphia today, a prominent conservative House member texted Axios saying a number of his colleagues were frustrated by what they heard:

"There seems to be a real frustration with the timetable that the Senate leader outlined on what the Senate will do. Some appreciate the honesty but are concerned that it will translate into very little getting accomplished."

McConnell was laying out the reality of the Senate, which is that to pass most legislation, the 52 Republican members need at least eight Democrats to join them. McConnell's message, our source paraphrases, was that "we are focused on confirmations and set low expectations for anything else." Others said McConnell was just pointing out that bills need 60 votes in the Senate.

"He was trying to convey that although the House can turn things around like that, the Senate just institutionally, by workload, cannot do as quickly," Sen. Bill Cassidy told us.

Why this matters: A big chunk of the Republican House has never had to govern. They've had the luxury of being in opposition for the Obama years. Today's tensions show that the clash between hardliners and leadership isn't over. "It's a perennial problem but I think it's more intense now because people feel that w/ unified government, we have to deliver and the Senate shouldn't be an excuse," one senior GOP aide emailed.

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Tulsi Gabbard reveals she met with Assad in Syria

J. Scott Applewhite / AP

Rep. Tulsi Gabbard told CNN this afternoon that, in addition to expressing "love and aloha" to the Syrian people, she also met with Bashar al-Assad during her recent trip to the country.

Something to consider #1: If this seems like a Trumpian move for a Dem, don't forget that Steve Bannon "loves" Gabbard and set up a meeting between her and Trump in November.

Something to consider #2: She's been coy about who actually paid for her trip, leading some to believe it might have been organized by a pro-Assad NGO.

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Donald Trump brings chaos to currencies

Associated Press


Nothing has taken Donald Trump's election harder than the Mexican peso, which has fallen almost 8% since November 8th.

But if you thought his tough-on-immigration speech would rub salt in the wound, think again. The peso has been surging since the president began talking.

Data: Money.net; Chart: Andrew Witherspoon / Axios

UBS analyst Bhanu Baweja warned earlier today that this would happen, arguing that markets have overshot the effects that even high tariffs would have on Mexico's economy.

Why this matters: Higher volatility in currency markets is a win for Wall Street, who have the smarts and the resources to profit from greater uncertainty. The president's penchant for geopolitical confrontation and off-the-cuff remarks will redound to the benefit of big finance.

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What else is behind the Trump stock rally

The S&P 500 has surged 5.4% since election day. It's the "Trump Rally."

But a closer look at the individual companies that are driving the stock market surge, and broader economic data, paint a more complicated picture:

Data: Money.net; Chart: Andrew Witherspoon / Axios

Sure, investors like what Trump's saying: Corporate tax cuts, less regulation, and infrastructure spending will all be good for corporate profits. But Trump is not the only game in the global economy.

Other drivers of the rally include:

  1. A stronger dollar: While this hurts multinationals who do business in foreign countries, a stronger dollar generally means that American companies are more valuable relative to foreign assets.
  2. Signs of life abroad: China has long-term problems, but the government there has been able to prop up growth for the time being. Even Europe is perking up, with Germany announcing this month that 2016 growth was the fastest in five years.
  3. Agriculture companies: They're benefiting from being oversold in 2015 and 2016 out of fears of a global slowdown. But developing economies have kept their heads above water, and everyone's gotta eat.


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Harvard's endowment is dumping half its investors

Angela N. / Flickr CC

Harvard University is cutting around half of the 230 investment professionals that manage its massive $35.7 billion endowment, according to a memo sent out earlier today by recently-hired endowment CEO N.P. Narvekar.

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Here are the losers of the Trump Rally. Sad!

The S&P 500 has climbed 5.4% since Donald Trump was elected president. Not everyone has gotten in on the party.

Retail stocks have taken a beating because fewer people are going to offline stores and and investors are predicting that tax reform will hurt those who sell imported goods. The worst performers since November 8th:

Data: Money.net; Chart: Andrew Witherspoon / Axios

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Trump's disconnect on torture

Evan Vucci / AP

Text of draft executive order on torture: "No person in the custody of the United States shall at any time be subjected to torture or cruel, inhuman, or degrading treatment or punishment, as proscribed by U.S. law."

Trump to ABC's David Muir: "I have spoken as recently as 24 hours ago with people at the highest level of intelligence, and I asked them the question, 'Does it work? Does torture work?' and the answer was, 'Yes, absolutely.'"

Caveat: Trump said that he'd go along with his Secretary of Defense and CIA Director's belief that the United States does not torture.

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Facebook snags Snapchat Story feature

JD Lasica / Flickr CC

Facebook is taking a cue from Snapchat by adding a 24-hour set of stories on its mobile app with nearly identical functions to Snapchat Stories. Just like Snapchat, the so-called "Facebook Stories" will also have features to tack on top of photos.

Jet-setting: It all started in Poland where Facebook tested the product in September, then called "Messenger Day," in its Messenger app, according to TechCrunch. Now users in Ireland can test it on iOS and Android, per Business Insider. Although the photos won't be in the News Feed, they will be at the top of the mobile app for friends to observe.

Why this matters: Facebook is working to block out Snapchat from the market after it tried to buy Snapchat in 2013 and failed. And this is not the first time Facebook has tried to borrow from Snapchat's game. Zuckerberg's company…

  • Launched disappearing messages with the Poke app in 2012
  • Made a similar attempt with the Slingshot app in 2014
  • Bought Instagram in 2012, which launched private picture messages in 2013 through Instagram Direct and then made its own Instagram Stories in 2016 — which has already met Snapchat's daily user base of 150 million
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Trump introduces his 2 immigration executive orders

Pablo Martinez Monsivais / AP

POTUS went to Homeland Security, where he spoke on immigration.

  1. He introduced his 2 executive actions: He'll build the wall, hire more border patrol, crack down on sanctuary cities and take action against countries that don't accept the return of deported citizens.
  2. He read off the names of family members of those killed by illegal immigrants, a regular event at his campaign rallies.
  3. He promised John Kelly, the retired general confirmed as head of Homeland Security, will get the job done.