Good Morning DC,
Over the weekend, I talked to David Duchovny at the private reading of his novella The Reservoir. It’s striking how the world of American letters can become an oasis, a creative escape from the politics that makes and breaks the news.
Also, over the weekend, I have published a well-sourced scoop about how PM Boris Johnson demanded Conservative MPs take photos of their confidence vote to show they were loyal to him in a secret ballot.
PM Boris Johnson is exhibiting anti-democratic behavior common to dictators. What is the UK Parliament turning into under his premiership?
Donald Trump has launched a lengthy response to the second January 6 hearing that took place yesterday at the US Capitol.
“Seventeen months after the events of January 6, Democrats are unable to offer solutions,” Trump said in a 12-page statement.
“The January 6 Unselect Committee is disgracing everything we hold sacred about our Constitution. If they had any real evidence, they’d hold real hearings with equal representation. They don’t, so they use the illegally-constituted committee to put on a smoke and mirrors show for the American people, in a pitiful last-ditch effort to deceive the American public…again.”
Your top news stories of today are below.
THE WHITE HOUSE
Today, Biden will speak at the 29th AFL-CIO Quadrennial Constitutional Convention at the Pennsylvania Convention Center.
According to a White House official, Biden “will contrast his economic vision that looks out from Scranton — with one that looks down from Wall Street.”
White House official told us that Biden’s economic vision builds the economy from the middle out and bottom up, not top down.”
At the Pennsylvania Convention Center, we were told “The President will outline the strength of the economy – including historically low unemployment rates – as a result of his American Rescue Plan and Bipartisan Infrastructure Law. And he will say there is more work to do – and tackling inflation is his top priority. He’ll lay out the stark choice: ask the wealthy to pay their fair share, as he is proposing, or put Medicare, Social Security, and Medicaid on the chopping block every five years, which is what Congressional Republicans are proposing.”
DIGITAL ASSETS
With the rest of the stock market, crypto is in free fall. MicroStrategy, led by Mike Saylor, has now lost about $1 billion in crypto.
As the retail investors are not happy with a bear market and the hottest inflation in decades, The Wall Street is also not delighted.
The Federal Reserve is expected to raise interest rates by 75 basis points to stabilize the inflation. Such measure has not been done since 1994. A three-quarter point hike can come into effect as soon as Wednesday.
FOREIGN AFFAIRS
The EU wants to take legal action after the UK unveiled plans to tear up elements of the Northern Ireland Protocol.
Would the changes to the Northern Ireland Protocol not be justified if it restored power-sharing?
We do need to have a good working relationship with either European Union as well, we don’t want to start some kind of trade war because we pressed the nuclear button, a unilateral nuclear button to say an agreement we signed up to only a few months ago, we now want to renege on. That doesn’t show us in a very good light internationally, just at the point we’ve got a cost of living crisis in this country, problems with supply chains, problems with food imports, energy imports, and so on. We don’t want to make that worse right now. And also with the war in Ukraine. We want a united front across the whole of Europe, not this division. So again, this is very poor tactics from the government. I think with good leadership, building trust, statecraft, and, you know, really negotiating hard on behalf of the government. We could resolve many of these issues.
Lucy Powell MP [Sky News]
Nicola Sturgeon is planning to launch a new campaign for Scottish independence from the UK. She argues that the country is being held back by the United Kingdom. Sturgeon has presented the first of the paper series looking at the UK’s performance across a range of economic and social indicators relative to that of ten European countries.
In Ukraine, all bridges leading to the city of Severodonetsk have now been destroyed by Russian forces.
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