Connect with us

Published

on

Some people have unfortunate weeks. But if you’re a certain octogenarian chief executive of the United States of America with a reputation for declining cognitive abilities, you just might have a terrible, horrible week that culminates in a purely distilled no good, very bad day of escalating awfulness.

As the incumbent and enormously unpopular resident of the White House, Joe Biden’s chief selling point is that at least he’s (allegedly) not as bad as presumed main challenger Donald Trump.

“The choice is clear. Donald Trump’s campaign is about him, not America, not you,” Biden told a Pennsylvania audience on this year’s anniversary of the 2021 Capitol riot. “Our campaign is different. For me and Kamala, our campaign is about America. It’s about you.”

That’s a fair enough bid for votes, so far as these things go. But, leaving aside Vice President Kamala Harris for the moment, as most Americans would very much like to do, it’s convincing only to the extent that President Biden remembers where “America” is and is clear about the identity of the “you” he is addressing. And as a series of recent incidents illustrate, that’s not at all certain.

The Rattler is a weekly newsletter from J.D. Tuccille. If you care about government overreach and tangible threats to everyday liberty, this is for you. Email(Required) EmailThis field is for validation purposes and should be left unchanged. Submit

Δ A Cascade of Mental Slips

“Right after I was elected, I went to a G7 meeting in southern England,” Biden said last week at a Nevada political rally. “And I sat down and said, ‘America is back!’ and Mitterand from GermanyI mean Francelooked at me and said, ‘How long you back for?'”

Nice catch that Mitterand was French, not German! That’s a save. But forgetting that Mitterand has been dead since 1996 and that today’s French president is named “Macron” is not.

Later in the week, in New York, Biden twice attributed a supposed 2021 comment by then-German Chancellor Angela Merkel to Helmut Kohl, who held that position in the ’80s and ’90s and died in 2017.

He also appeared to forget the name of the Hamas terrorist group that attacked Israel while he was updating the press on the continuing conflict.

This, of course, plays into the public’s perception that Biden may not be at the top of hisor anybody’sgame when it comes to his cognitive status.

Last June, an NBC News poll found “68% of all voters say they have concerns about Biden having the necessary mental and physical health to be president, including 55% who say they have ‘major’ concerns.” A similar 52.21 percent of respondents told pollsters in September that they are “very concerned” about “Joe Biden’s cognitive health affecting his ability to serve another term as President effectively.”

Many voters are also worried about Donald Trump’s mental fitness for office. He feeds into such concerns when he, for example, confuses Republican rival Nikki Haley with former House Speaker Nancy Pelosi, as he did last month. But, in polling, public concerns over Trump’s mental health come in significantly lower than those for Biden. Frankly, Trump’s brand is vicious rather than addled. When You Welcome Good News for Your Opponent

So, Biden’s team must have breathed a relative sigh of relief when media attention turned on Thursday to Supreme Court hearings on the status of Colorado efforts to bar the GOP’s presumed nominee from the ballot. Then again, it wasn’t exactly positive news for the current president.

“A clear majority of justices expressed overwhelming skepticism toward the plaintiffs’ claim that Trump is disqualified under Section 3 of the 14th Amendment because he ‘engaged in insurrection,'” reported Slate’s Mark Joseph Stern. “Justices across the ideological spectrum suggested that individual states cannot enforce Section 3 against federal candidates, at least not without congressional approval.”

Well, at least it was a distraction, right? Biden’s main rival looks bound for the ballot, but at least nobody is talking about cognitive decline.

Well, they weren’t right up until Special Counsel Robert Hur released his report into Joe Biden’s mishandling of classified documents. Good News, Really Bad News

“Our investigation uncovered evidence that President Biden willfully retained and disclosed classified materials after his vice presidency when he was a private citizen,” finds the report.

Uh oh.

“We decline prosecution of Mr. Biden.”

Whew.

“At trial, Mr. Biden would likely present himself to a jury, as he did during our interview of him, as a sympathetic, well-meaning, elderly man with a poor memory,” notes the report. “He did not remember when he was vice president, forgetting on the first day of the interview when his term ended (‘if it was 2013—when did I stop being Vice President?’), and forgetting on the second day of the interview when his term began (‘in 2009, am I still Vice President?’). He did not remember, even within several years, when his son Beau died.”

Ouch. That’s not where the White House team wanted this to go. The president himself bitterly responded in a press briefing where he welcomed the decision to not prosecute but denounced aspersions on his cognitive abilities, and insisted “my memory is fine.” Then he took a question about Israel.

“As you know, initially, the President of Mexico, El-Sisi, did not want to open up the gate to allow humanitarian material to get in,” he answered.

But Abdel Fattah el-Sisi is the president of Egypt.

“Mexico? Mexico? Where did that come from?” asked CNN’s Jeffrey Toobin. “That’s the only thing anyone’s going to remember from this.”

In a snap end-of-week poll by YouGov, 47 percent of respondents say Joe Biden’s health and age will “severely limit his ability to do the job” if he wins in November. Honestly, 32 percent say the same of Trump, but one third is a hell of a lot better than just shy of half when people are trying to decide which candidate is less bad.

Last week, Joe Biden had a no good very bad day and it’s a good bet there are more to come.

Continue Reading

Politics

California judge rules DAO members liable under partnership laws

Published

on

By

California judge rules DAO members liable under partnership laws

A16z Crypto’s Miles Jennings posted on X that the ruling is a “huge blow” to decentralized governance. 

Continue Reading

Politics

Thousands of farmers to descend on Downing Street to protest against inheritance tax changes

Published

on

By

Thousands of farmers to descend on Downing Street to protest against inheritance tax changes

Thousands of farmers from across the UK are expected to gather outside Downing Street today – in the biggest protest yet against the government’s changes to inheritance tax rules.

The reforms, announced in last month’s budget, will mean farms worth over £1m will be subject to 20% inheritance tax from April 2026.

Farmers say that will lead to land being sold to pay the tax bill, impact food security and the future of British farming.

The Government insists it is “committed” to the farming industry but has had to make “difficult decisions”.

Farmers from Scotland, Northern Ireland, Wales and England will arrive in London to hear speeches from agricultural leaders.

Sky News understands TV presenter and farm owner Jeremy Clarkson, Conservative Party leader Kemi Badenoch and Lib Dem leader Ed Davey will also address crowds.

Protestors will then march around Parliament Square.

More on Farming

A sign in a field by the M40 near Warwick, protesting the changes to inheritance tax (IHT) rules in the recent budget. Pic: PA
Image:
A sign in a field by the M40 near Warwick, protesting the changes to inheritance tax rules in the recent budget. Pic: PA

‘It’s really worrying’

“It’s unfortunate, as Labour had originally said they would support farmers,” said fourth-generation farmer Will Weaver, who is attending today’s rally.

His 500-acre cow and sheep farm in South Gloucestershire has been in his family since 1939.

“We’ve probably buried our head in the sand a little bit. I think, back of a fag-packet rough estimates, tax is going to be north of half a million [pounds].”

The government is keen to stress that farmers will get a decade to pay the bill – but that comes as little comfort to Will: “It’s more than our profit in any year that we’ve had in the last 10 years. Dad’s saying we’ll have to sell something. I don’t know if we’ll be able to raise that sort of money through a mortgage. It’s really worrying.”

As anger grows, there continues to be disagreement between the National Farmer’s Union and the Government over how many farms will actually be impacted by the change.

The Treasury says only the wealthiest estates, around 500 of them, will have to pay under the new rules – claiming 72% of farms won’t be impacted.

But farmers say that calculation is incorrect – citing that DEFRA’s own figures show 66% of farms are valued at over £1m and that the government has undervalued many estates.

At the same time as the rally, the NFU is addressing 1,800 of its members in Westminster before they lobby MPs.

More on this story:
Farmers warn of food price hikes

Minister downplays risk of empty shelves if farmers strike

Please use Chrome browser for a more accessible video player

The president of the National Farmers’ Union says farmers are feeling

‘Understanding has been betrayed’

Max Sealy represents the NFU Dairy Board in the South of England.

“We have a detailed job to do to explain why this is wrong not just for farming, not just for the countryside and not just for our families, but for the economy in general,” he said.

“This is a bad tax – it’s been badly implemented because it will affect growth productivity in the country.”

He told Sky News Labour made promises to farmers ahead of the election.

“Both Steve Reed and Keir Starmer came to our conference two years ago and told us farming wasn’t a business like any others and that he understood the long-term nature of farming – that understanding has been betrayed,” he said.

More from Sky News:
Murdered woman found in car boot named
Man admits being in charge of out-of-control XL bully

And the government say:

In a joint statement, Chancellor Rachel Reeves and Secretary of State for Environment, Food and Rural Affairs Steve Reed said: “Farmers are the backbone of Britain, and we recognise the strength of feeling expressed by farming and rural communities in recent weeks. We are steadfast in our commitment to Britain’s farming industry because food security is national security.

“It’s why we are investing £5bn into farming over the next two years – the largest amount ever directed towards sustainable food production, rural economic growth and nature’s recovery in our country’s history.

“But with public services crumbling and a £22bn fiscal hole that this Government inherited, we have taken difficult decisions.

“The reforms to Agricultural Property Relief ensure that wealthier estates and the most valuable farms pay their fair share to invest in our schools and health services that farmers and families in rural communities rely on.”

A Met Police spokesperson said it was “well prepared” for the protest and would have officers deployed to ensure it passes off “safely, lawfully and in a way that prevents serious disruption”.

Continue Reading

Technology

Fintech unicorns are watching Klarna’s debut for signs of when IPO window will reopen

Published

on

By

Fintech unicorns are watching Klarna's debut for signs of when IPO window will reopen

Hiroki Takeuchi, co-founder and CEO of GoCardless. 

Zed Jameson | Bloomberg | Getty Images

LISBON, Portugal — Financial technology unicorns aren’t in a rush to go public after buy now, pay later firm Klarna filed for a U.S. IPO — but they’re keeping a watchful eye on it for signs of when the market will open up again.

Last week, Klarna made a confidential filing to go public in the U.S., ending months of speculation over where the Swedish digital payments firm would list. Timing of the IPO is still unclear, and Klarna has yet to decide on pricing or the number of shares it’ll issue to the public.

Still, the development drew buzz from fintech circles with market watchers asking if the move marks the start of a resurgence in big fintech IPOs. For now, that doesn’t appear to be the case — however, founders say they’ll be watching the IPO market, eyeing pricing and eventually stock performance.

Hiroki Takeuchi, CEO of online payments startup GoCardless, said last week that it’s not yet time for his company to fire the starting gun on an IPO. He views listing as more of a milestone on a journey than an end goal.

“The markets have been challenging over the last few years,” Takeuchi, whose business GoCardless was last valued at over $2 billion, said in a CNBC-moderated panel at the Web Summit tech conference in Lisbon, Portugal.

“We need to be focused on building a better business,” Takeuchi added, noting that “the rest will follow” if the startup gets that right. GoCardless specializes in recurring payments, transactions that come out of a consumer’s bank account in a routine fashion — such as a monthly donation to charity.

Lucy Liu, co-founder of cross-border payments firm Airwallex, agreed with Takeuchi and said it’s also not the right time for Airwallex to go public. In a separate interview, Liu directed CNBC to what her fellow Airwallex co-founder and CEO Jack Zhang has said previously — that the firm expects to be “IPO-ready” by 2026.

“Every company is different,” Liu said onstage, sat alongside Takeuchi on the same panel. Airwallex is more focused on becoming the best it can be at solving friction in global cross-border payments, she said.

An IPO is a goal in the company’s trajectory — but it’s not the final milestone, according to Liu. “We’re constantly in conversations with our investors shareholders,” she said, adding that will change “when the time is right.”

‘Stars aligning’ for fintech IPOs

One thing’s for sure, though — analysts are much more optimistic about the outlook for fintech IPOs now than they were before.

'Phantom debt' is flying under the radar — and it could be a problem for the U.S. economy

“We outlined five handles to open the [IPO] window, and I think those stars are aligning in terms of the macro, interest rates, politics, the elections are out the way, volatility,” Navina Rajan, senior research analyst at private market data firm PitchBook, told CNBC.

“It’s definitely in a better place, but at the end of the day, we don’t know what’s going to happen, there’s a new president in the U.S.,” Rajan continued. “It will be interesting to see the timing of the IPO and also the valuation.”

Fintech companies have raised around 6.2 billion euros ($6.6 billion) in venture capital from the beginning of the year through Oct. 30, according to PitchBook data.

Jaidev Janardana, CEO and co-founder of British digital bank Zopa, told CNBC that an IPO is not an immediate priority for his firm.

“To be honest, it’s not the top of mind for me,” Janardana told CNBC. “I think we continue to be lucky to have supportive and long-term shareholders who support future growth as well.”

He implied private markets are currently still the most accommodative place to be able to build a technology business that’s focused on investing in growth.

However, Zopa’s CEO added that he’s seeing signs pointing toward a more favorable IPO market in the next couple of years, with the U.S. likely opening up in 2025.

That should mean that Europe becomes more open to IPOs happening the following year, according to Janardana. He didn’t disclose where Zopa is looking to go public.

Continue Reading

Trending