Biden's Buy American push is good politics but bad economics - CNN

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And he took a small step toward ensuring Washington can upgrade less of it.

That step backward came with Biden's move last week to stiffen requirements that federal government purchases be limited to products made in the United States -- even if they're more expensive. Thus he followed the grooves set by both Democratic and Republican predecessors, who have consistently embraced crowd-pleasing "buy American" stances that make economists groan.

"Counter-productive," cautioned Melissa Kearney, a University of Maryland professor who favors much of Biden's economic agenda. "It really makes some of the administration's other goals harder to achieve."

Biden acted to strengthen the nearly-a-century-old Buy American Act, whose provenance alone hints at shaky economic foundations. It was signed into law by former President Herbert Hoover, who had earlier signed the Smoot-Hawley protective tariffs at the dawn of the Great Depression.

That association has not diminished its political appeal as America's economy over the decades has become steadily more integrated with the rest of the world. Former President Ronald Reagan signed a companion law as America lost industrial jobs in the 1980s.

Former President Barack Obama incorporated Buy American provisions into his 2009 stimulus plan in response to the Great Recession. And Buy American provided a natural component for former President Donald Trump's pledge to "Make America Great Again."

Trump signed a series of executive orders advancing the theme. But as with steps taken by earlier presidents, they allowed ample room for such exemptions as complying with international trade agreements and permitting purchase of some foreign-made goods when suitable domestic alternatives were unavailable.

Now Biden -- who has placed revival of American manufacturing at the center of his economic agenda -- has moved to limit that wiggle room. Proposed rules he announced last week would boost the minimum value of American-made components in products purchased with taxpayer dollars to 60% from 55% immediately, and to 75% over time.

In the name of national security, the administration would enlarge price preferences for some American-made "critical products and components." It would simultaneously strengthen reporting requirements for federal suppliers to demonstrate the domestic content of their products.

"It's not lip service," said William Reinsch, a former Commerce Department official under President Bill Clinton now at the Center for Strategic and International Studies in Washington. "It's a genuine effort to change the rules."

By demonstrating America's reliance on China and other foreign sources for medical supplies, the coronavirus pandemic has fueled the effort. Even economists who celebrate free-market forces acknowledge that Buy America policies make sense in limited circumstances to protect vital national interests.

"It's a question of scope," said Kyle Pomerleau of the conservative American Enterprise Institute. He worries that Biden's policy -- which has not yet specified what it considers "critical components and products" -- will be too broad.

Heather Boushey, a member of the White House Council of Economic Advisers, defended Buy American by noting "mission critical" objectives it can advance. One example: stocking the federal government's fleet with domestic-made electric vehicles can accelerate a sector crucial for competing economically and fighting climate change.

"I do not think it's bad economics," Boushey said. "Everything in balance."

'It's like being for puppies'

No one doubts that it's good politics. As Biden seeks to recapture the allegiance of some Trump-friendly blue-collar workers, Buy American policies fare "extremely well" among voters, observed Democratic pollster Mark Mellman.

"It's like being for puppies," cracked Republican counterpart Glen Bolger. In fact, Bolger added, the idea that Washington can boost the domestic economy through federal purchasing power strikes plenty of Americans as too good to be true.

They have some basis for skepticism. In 2018, the Government Accountability Office found that foreign-made products exempt from the Buy American Act made up just 4% of federal government purchases the previous year.

That makes the sphere of economic activity affected by Biden's initiative fairly small even if it achieves its intended goals.

"You're talking about $300 billion of goods in a $22 trillion economy," Reinsch concluded. "The question is whether it's going to change very much."

To that extent, the added costs Buy American initiatives impose threaten less economic havoc than protectionism in other forms, such as import tariffs. Jason Furman, who chaired Obama's Council of Economic Advisers, considers relative harmlessness an argument in their favor.

"The ratio of good politics to bad economics," Furman said, "might make it fully justified."

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3 Reasons Not to Worry About a Stock Market Crash - Motley Fool

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When will the next stock market crash happen? It's almost impossible to say. Many experts were convinced that stocks would crash late last year or during the first half of 2021, mostly due to the fact that the market has been largely overvalued for a really long time. But that didn't happen.

Here's what we do know, though. The stock market is apt to tumble eventually. But that's not something that should cause you to lose sleep. Here's why.

Image source: Getty Images.

1. Stocks go on sale during downturns

Stock market crashes are typically regarded as a bad thing. But you're better off looking at them as an opportunity. When stock values drop, you, as an investor, get a prime opportunity to build out your portfolio on the cheap.

Say you've had your eye on a specific company whose share price has hovered around $500. Now, let's say the broad market tanks and stock values fall 20% across the board. Suddenly, you can scoop up those shares at $400 apiece, wait for the market to recover, and then profit big time.

2. Long-term investors typically aren't hurt by crashes

The stock market has undergone dozens of corrections (periods where stock values drop 10% or more) in its history, and it's managed to recover from every single one. Short-term investors may have gotten burned by corrections, but those who stayed invested for decades would've largely come out ahead.

If you adopt an investing strategy that involves buying quality stocks and holding onto them for decades, then you'll put yourself in a great position to get through a stock market crash unscathed. In fact, in the grand scheme of what could be a 40- or 50-year investment window, a single market crash may end up being quite meaningless.

Imagine you're in your 20s and are building a stock portfolio for retirement. The only time you should really be concerned with a market crash is within the five- to seven-year window before your target retirement date. And by then, you'll ideally have shifted some of your assets out of stocks and into safer alternatives like bonds anyway.

3. You can prevent losses during a crash by simply doing nothing

Simply owning stocks during a market crash won't cause you any financial losses. It's when you go out and sell stocks when they're down that financial damage occurs.

The solution? Don't make any moves when stock values plunge. It's really that simple. If you leave your portfolio alone and wait things out, you won't be negatively affected at all. Rather, all you'll be doing is looking at a loss on paper (or, these days, on screen).

Whether you're new to investing or have been building a portfolio for years, stock market crashes can be scary events. After all, it's very unsettling to see the value of your portfolio decline swiftly overnight. But one thing you must remember is that if you play your cards right, you can survive a stock market crash without taking any sort of financial hit. In fact, keeping your cool during a market crash could spell the difference between coming out unscathed and suffering serious losses.

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Trump political groups continue to spend money at his properties - The Washington Post

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Save America, the leadership PAC where former president Donald Trump is asking loyalists to direct their political contributions, paid for lodging about two dozen times in the first six months of 2021.

Nine of those times, the payments went to properties owned by the former president, according to a filing made public on Saturday. All told, the PAC sent at least $68,000 to the Trump Hotel Collection, showing how the real estate mogul — long after ending his presidential campaign and leaving office — continues to use donor money at his own properties.

Make America Great Again PAC, a repurposed campaign account, spent about $200,000 on office and restaurant space in Trump Tower, according to its filing for the first half of the year. Trump Victory, a joint fundraising committee for the Trump campaign and the Republican National Committee, separately has spent $2,200 at Trump properties so far this year, according to a filing by that committee. And a Trump-backed PAC overseen by Corey Lewandowski, his 2016 campaign manager, paid $21,810 to rent space at the Trump National Golf Club in Bedminster, N.J., it reported on Saturday.

These are small sums compared with the kind of spending Trump did at his properties on the campaign trail and as president. But they stand out because of the relatively little spending Trump has done from his post-presidency war chest. His Save America PAC spent little more than $3 million in the first half of the year, while raking in $62 million — part of a haul that left him with a political war chest of $102 million.

The practice began during his 2016 run, when Trump’s campaign paid his businesses about $12.5 million — transforming donors’ political contributions into private revenue for his businesses. Trump billed his own campaign to fly himself on his Boeing 757 jet, to rent office space in Trump Tower and to hold events at Trump golf clubs. His name-branded “Trump Ice” water even showed up on the campaign’s tab.

In 2020, Trump’s political operation spent about $6.7 million at Trump Organization properties. The figure was lower than in 2016 in part because Trump was traveling to campaign stops on Air Force One, so he no longer paid himself for air travel. The payments continued even after Trump’s defeat in the 2020 election. Campaign filings show that Trump’s campaign still paid Trump Tower more than $40,000 in rent in December 2016, after the race had already been decided.

As president, Trump repeatedly visited his own properties — for weekend and summer getaways, for lavish political fundraisers and for official summits with foreign leaders. These visits required Secret Service agents and other government officials to stay at the properties alongside Trump, and Trump’s businesses billed the government for their rooms, as well as for food, flowers and water served during official meetings.

Trump has continued to bill the U.S. government even during his post-presidency, by charging the Secret Service for rooms they’ve used while protecting him at his Mar-a-Lago Club in Palm Beach, Fla., and at his golf club in Bedminster. The government has paid Trump at least $72,000 this way since he left office, according to receipts obtained by The Post. There is no rule against Trump charging the government for these rooms, allowing him to continue the practice indefinitely.

Trump still owns his businesses and can draw profits from them. He could control them if he wanted, though he has left them in a trust. Trump’s longtime chief financial officer, Allen Weisselberg, previously shared control with Trump’s sons, but Weisselberg resigned his position at the trust after he was indicted on charges of grand larceny and tax fraud in New York this summer. Two Trump corporate entities were indicted at the same time. Prosecutors said that Weisselberg and other unnamed leaders at the company conspired to evade taxes by concealing a portion of Trump executives’ pay from the IRS.

The prosecutors who brought those charges — Manhattan District Attorney Cyrus R. Vance Jr. (D) and New York Attorney General Letitia James (D) — have said they are still investigating the Trump Organization. Trump himself has not been accused of any wrongdoing.

That list has included a number of GOP candidates who — while seeking Trump’s support in GOP primaries — have held events at Trump’s properties. Ohio’s Josh Mandel (R), running for the U.S. Senate, has spent about $31,000 at Trump’s Mar-a-Lago Club in Palm Beach, and rival Alabama candidates Lynda Blanchard and Mo Brooks, also running for the Senate, have both spent money there as well. The biggest spender was the Republican National Committee, which spent $175,000 to host a dinner at Mar-a-Lago during a donor retreat that was largely held at another Palm Beach property.

Anu Narayanswamy contributed to this report.

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Donald Trump's political organization builds war chest topping $100 million - CNN

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Trump's fundraising haul speaks to his continued ability to raise money from small-dollar donors online, as he trumpets baseless claims that election fraud led to his loss last year.

Trump's team said 3.2 million contributions flowed into the former President's political committees during the first six months of the year.

In a statement, Trump once again complained of a "stolen" election and cited the donations as a sign that millions of Americans "share my outrage and want me to continue to fight for the truth."

Trump's fundraising apparatus includes two political action committees: Save America, a leadership PAC, and the Make America Great Again PAC, along with a separate joint fundraising committee.

Most of Trump's cash reserves are stockpiled in his Save America leadership PAC, with $90 million remaining in its accounts as of June 30, new filings show -- giving the Republican a large sum to unleash as his party seeks to seize control of the House and Senate in next year's midterm elections. Trump also has hinted at seeking the White House again in 2024, and the new numbers show he remains the GOP's dominant fundraising figure, despite losing the election and access to social media platforms.

In announcing his fundraising totals, which were first reported by Politico, on Saturday, Trump's team said his committees had raised nearly $82 million in the first six months of the year, but that total also included funds collected in 2020 that were transferred into his account this year.

Trump spokesman Jason Miller on Sunday said the transfers were included because they amounted to "all new revenues to Save America for this period."

Save America is the former President's primary fundraising and public relations vehicle, and he uses it to issue statements endorsing his favored candidates and denouncing those he opposes. But the PAC had not contributed to any congressional candidates during the first six months of the year, according to its filings with the Federal Election Commission. Miller told CNN that checks began going out to endorsed candidates in July, after the period covered by the new filings.

Leadership PACs such as Save America have a cap on donations, but federal rules impose few restrictions on how their contributions can be spent. And during the first six months of the year, the PAC spent about $68,000 for lodging and meals at the Trump Hotel Collection, according to records.

Trump has also endorsed a super PAC, Make America Great Again Action. The super PAC's filing Saturday night shows it took in a little more than $5 million as of June 30. Individual donors include Don Ahern, a Nevada businessman who contributed $1 million, former Georgia Sen. Kelly Loeffler at $250,000 and MyPillow CEO Mike Lindell at $100,000. Lindell has been on a mission to advance claims that widespread fraud contributed to Trump's defeat.

The super PAC recently has begun spending to boost Trump-favored candidates -- pumping $100,000 into an unsuccessful attempt in July to help elect Texas Republican Susan Wright in a special runoff for a US House seat. Wright lost to fellow Republican Jake Ellzey.

Another GOP primary on Tuesday -- this time for a US House seat from Ohio -- will offer the latest test of Trump's ability to sway voters. Make America Great Again Action has spent more than $400,000 so far to promote Trump's choice, coal lobbyist Mike Carey, in the Columbus-area special election.

This story has been updated with additional information.

CORRECTION: An earlier version of this story incorrectly stated the amount of contributions to Trump's political committees. It is 3.2 million contributions.

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Farmers market finds for vein health - La Jolla Light

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From San Diego’s coast to the inland communities, fresh fruits and vegetables are plentiful this time of year at local farmers markets. Not only is a trip to the farmers market fun, but a wide variety of healthy choices that support vein health are available.

Avocado

This healthy fruit is high in vitamin E, which aids in preventing your blood platelets from sticking together.

Fortunately, avocados are inexpensive and easy to find in Southern California. Use smashed avocado to replace butter on toast or in lieu of mayonnaise on your sandwich at lunchtime.

Tomatoes and Watermelon

Watermelon and tomatoes are high in lycopene, a naturally occurring antioxidant that gives certain foods a reddish color. Lycopene is known to improve circulation and reduce the risk of developing numerous health conditions.

Try a slice of chilled watermelon with a squeeze of fresh lime and a sprinkle of chopped mint, all of which can be found at local summer farmers markets.

Oranges

Citrus grows abundantly throughout the region. Oranges and other citrus fruits contain high amounts of vitamin C. As natural blood thinners, citrus is believed to strengthen capillary walls and prevent plaque build-up.

Berries

Berries are high in vitamin C, which promotes building strong veins and improves circulation.

A deliciously healthy way to start the day is a bowl of oatmeal topped with fresh berries. Seek out ripe strawberries, blueberries or blackberries and layer them with cooked oatmeal. There is no need for added sugar. Toss a few walnuts in your bowl for a protein-packed, fiber-rich breakfast that will sustain you through lunch.

As a bonus, oatmeal provides much needed fiber that promotes regularity. Straining in the bathroom can damage the veins in your legs that are in your groin and abdomen.

Bell peppers

Like berries, Bell peppers are high in vitamin C. Peppers also have collagen and elastin, which are essential to vein health. Eat peppers to help strengthen and tone your venous system.

Flowers

Just having fresh flowers in a room can be soothing for many people. Reducing stress is good for your cardiovascular and venous systems. Beautiful bouquets of bright flowers often are available at farmer’s market, and the flowers generally are low in cost, too.

Want to know more about improving your venous health? Dr. Van Cheng, medical director at San Diego Vein Institute, is a Harvard University educated doctor who specializes in treating venous concerns and optimizing venous health with a goal of helping patients keep their legs looking healthy and attractive. San Diego Vein Institute is located at 336 Encinitas Boulevard, Suite 130, Encinitas, CA 92024. For more information or to schedule an appointment, call (760) 944-9263 or visit www.sdveininstitute.com.

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'Duluth Farmers' Market Jam Band' Plays On - FOX 21 Online

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July 31, 2021

DULUTH, Minn.- The unofficially named Duluth Farmers’ Market Jam Band is a group of strangers who first met at the market years ago and now play music together at pop-ups each season.

“It’s just the weekly jam band,” said local Gerhardt Moster-Beard. “People who wanna play come down here. The numbers vary week to week. It’s playing music together. I’m still learning and I learn faster when I play with other musicians, that’s why I look for things like this.”

The group size varies each week, different musicians have brought instruments to sit in the grass and sing songs.

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Vendors call weekly farmers' market a success - KSNB Local 4

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HASTINGS, Neb. (KSNB) - The weekly Highland Park Farmers’ Market returned Saturday morning and brought out quite the crowd. The event had been going on for a majority of the summer, and for a number of years prior. Vendors sold a variety of items ranging from jewelry, to juices, to fresh eggs, veggies and more.

Koob Borgeling, a vendor selling honey at the market for his son, said the day had been pretty successful.

“It’s been pretty good,” Borgeling said. “I enjoy coming out to the Farmers’ Market, just meeting everybody coming through and visiting with them... We’ve been coming back here since we moved here in 2006, 2007.”

The market had been going on since June this year, but it had been going countless years prior.

Alan Hoagland, a vendor selling produce, had been attending the event each Saturday in the summer for more than ten years.

“It’s been, and we keep growing, adding more stuff and we have quite a variety anymore,” Hoadland said. “It’s a fun time.”

The Highland Park Farmers’ Market will continue each Saturday from 8 a.m. to noon until fall 2021. The market should return again at the park next summer.

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