Today in Politics, Bulletin 182. 7/31/25

… Trump biographer Michael Wolff to Meidas: “Epstein’s explanation for why this friendship ended is as follows. In 2004, Epstein believed himself to be the high bidder on a piece of real estate in Palm Beach—a house. His bid was $36 million. He took his friend Trump around to see the house, to advise him on how to move the swimming pool. Trump thereupon went around Epstein’s back and bid $40 million for the house—and got the property. Epstein, who was well acquainted and in fact deeply involved with Trump’s scattered finances, understood that he didn’t have $40 million to pay for this house.”

… “If that was the case, it was someone else’s $40 million. At the time, Epstein believed this to be the $40 million of a Russian oligarch by the name of Rybolovlev. Less than two years later, this same house that Trump had bought for $40 million was sold for $95 million—and it was in fact sold to Rybolovlev. This is all a red flag of money laundering. Epstein after this began to threaten lawsuits and going to the press saying that Trump was a frontman for a money laundering deal.”

… “Trump panics at this point, and Epstein believed that it was Trump who went to the police and, as Epstein said, dropped the dime on him - informed the police of what was going on. And an investigation began, and all of Epstein’s legal problems for the next 15 years began to unfold.”

… “We can chart a continued friendship between these two men through flight manifests, photographs, phone calls—and even a picture of Epstein at Trump’s wedding to Melania in 2005. So this relationship that Trump now claims ended in 2000 actually demonstrably continued until at least 2005. And it’s that period—from 2000 to 2005—in which most of the allegations against Epstein took place.”

… Which is all probably in the Epstein files that Trump is covering up.

… Epstein/Maxwell victim Virginia Giuffre’s family issued a statement condemning Trump: “It was shocking to hear Trump invoke our sister and say that he was aware that Virginia had been ‘stolen’ from Mar-a-Lago. It makes us ask if he was aware of Epstein and Maxwell’s criminal actions, especially given his statement two years later that his good friend Jeffrey ‘likes women on the younger side - no doubt about it.’ We and the public are asking for answers; survivors deserve this.”

… “If our sister could speak today, she would be most angered by the fact that the govt is listening to a known perjurer. A woman who repeatedly lied under oath and will continue to do so as long as it benefits her position. Maxwell is a monster who deserves to rot in prison for the rest of her life for the extraordinary violence and abuse she put not just our sister Virginia through, but many other survivors, who may number in the thousands. A predator who thought only of herself, she destroyed the lives of girls and young women without conscience.”

… Trump was asked today about it: “Q- The family of Virginia Guiffre issued a statement in response to the comments you made. You said Epstein stole people from Mar-a-Lago. At the time, did you know why taking those young women? Trump: No, I didn’t know. It figures that ABC fake news would ask that question - one of the worst. No, I don’t know really why. I said if he’s taking anybody from MAL, hiring or whatever he’s doing, I didn’t like it.”

… Former Epstein and Trump attorney Alan Dershowitz posted a video this morning saying that he is suing the Martha’s Vineyard Farmer’s Market after the pierogi guy refused to sell to him yesterday because he defends Trump and said he doesn’t like some of the people he has represented. Dersh then stood in front of the pierogi booth telling people not to buy from him until the police arrived and told him to leave.

… Dershowitz argued with the police and the manager of the market for several minutes until he finally left. In his video, he also whined that he’s banned from the MV Book fair, library, Jewish synagogue, and nobody on the island will invite him to any parties because if they do they will become a social pariah and lose all their friends.

… WSJ: “Epstein has been discussed in 3,123 conservative podcast episodes recently, a WSJ analysis found. Those conversations grew more than eightfold in the last three weeks despite the president’s telling MAGA to drop the issue."

… But Fox is doing their best to deflect attention away from it. Media Matters: “Since Monday, Fox News has spent 85 minutes covering an American Eagle commercial featuring Sydney Sweeney, devoting over 20 segments to it. In the same time period, Fox spent just 3 minutes discussing the Trump admin’s handling of the Jeffrey Epstein files.”

… Rep. Ritchie Torres (D-NY) on MSNBC: "Republicans are beginning to realize that there is nobody in Washington DC that has closer and longer ties to Epstein than Donald Trump. The most damning fact: Donald Trump made Alex Acosta, who gave a sweetheart plea deal to Epstein and to all co-conspirators, his Secretary of Labor, which has jurisdiction over human trafficking."

… Trump continues to turn the White House into a 1985-style Atlantic City casino. Press Secretary Karoline Leavitt: “We are proud to announce that the construction of the new WH ballroom will begin. For 150 years presidents, administrations, and WH staff have longed for a large event space on the WH complex that can hold substantially more guests.”

… Daily Beast reporter Sarah Ewall-Wice: “The current White House is 55,000 sq ft (+ the West Wing is 40,000 sq ft). Adding a 90,000 sq ft ballroom will basically dwarf the actual White House. When Trump vowed to build a ballroom in February, he said $100M, but today's announcement said $200M.”

… Paging DOGE. You guys still around?

… CNBC: “Trump signed an order imposing a universal 50% tariff on copper imports. The Trump admin says that the new duties, which follow 50% US tariffs already imposed on steel and aluminum, are aimed at boosting domestic industries and addressing ‘trade imbalances.’ But experts warn that they could raise prices on all sorts of products, ranging from construction materials to electronics, that utilize the versatile metal. Copper is the 3rd-most-consumed metal, behind iron and aluminum. The US imports nearly half of the copper it uses, most of which comes from Chile.”

… Reuters: “Ford Motors said that US tariffs on imported vehicles, as well as on steel and aluminum, will likely cost more than expected for the year, and the automaker's shares slid 3% trading. Ford reported that Q2 results took an $800-million hit from tariffs, a less pronounced impact than some of its US rivals thanks to Ford's strong domestic manufacturing base. For the full year, the automaker lifted the higher range of its projected hit to gross revenues from tariffs by $500 million, to $3 billion.”

… CNBC host Joe Kernan to Treasury Secretary Scott Bessent: “Ford hasn’t lost money in a quarter since 2023. They make almost all their cars in the US, but they still import some parts. As a result, tariffs have wiped out their profits completely. Bessent: "I think that there are were numerous unique circumstances with Ford. I believe that the Ford F-150, 250 - their big truck series - is made out of aluminum instead of steel, which is different than other cars. So I think maybe the aluminum tariffs hit them harder."

… So the Trump admin is punishing the auto company that makes more cars in the US than any other company because they use aluminum in their trucks. Makes sense. Seems like a very well thought out tariff policy from Lutnick and Trump.

… Inflation rose again last month. Yahoo Finance: “The latest reading of the Fed Reserve's preferred inflation gauge showed price increases accelerated in June as inflation remained above the Fed's 2% target. The Personal Consumption Expenditures (PCE) index, which strips out food and energy costs and is closely watched by the central bank, rose 0.3% from the prior month, and above the 0.2% increase seen in May.”

… Fed Chair Jerome Powell announced they are still not ready to lower interest rates: "Increased tariffs are pushing up prices in some categories of goods. Near-term measures of inflation expectations have moved up on balance over the course of this year on news about tariffs."

… Trump then raged about it: “Jerome ‘Too Late’ Powell has done it again!!! He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair. ‘Too Late’ is a TOTAL LOSER, and our Country is paying the price!”

… Harvard economics professor Jason Furman: “I don't think people appreciate just how much re-inflation we've had. Last year core PCE inflation was 2.8%. It was forecasted to fall to 2.2% in the first half of this year, instead it was 3.0% (annual rate).

… Former Obama WH chief economist Gene Sperling: “Pre-Trump tariff statements, Goldman Sachs, IMF and others projected inflation coming down to around 2% with GDP close to 2.5%. Trump policy has moved us in a stagflationary direction. Growth closer to 1%, inflation close to 3%. A self-inflicted wound. Not Powell’s fault.”

… Reuters: “Procter & Gamble forecast annual results largely below estimates and said it would raise prices on some products in the US, a day after naming insider Shailesh Jejurikar as CEO to steer it through tariff uncertainty. Economic volatility and ‘consumer anxiety’ stemming from Trump's erratic tariff policies and crackdown on immigration and employment status have forced shoppers to temper spending in order to stretch their budgets, executives told Wall Street.”

… DOJ argued the case today on the lawsuit challenging Trump’s authority to issue tariffs without congressional approval. Trump: “To all of my great lawyers who have fought so hard to save our Country, good luck in America’s big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE ‘DEAD,’ WITH NO CHANCE OF SURVIVAL OR SUCCESS.”

… Trump trade talks with India have fallen apart: “I don’t care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together. Let’s keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he’s still President, to watch his words. He’s entering very dangerous territory!”

… Trump has threatened to impose secondary tariffs of 50% in 8 days on any country that buys oil from Russia. India has bought tons of oil from Russia for decades and has no intention of stopping any time soon.

… Dmitry Medvedev responded to Trump’s attack on him as they continue to trade barbs: “If some words from the former President of Russia trigger such a nervous reaction from the high-and-mighty president of the US, then Russia is doing everything right.”

… Trump also indicated that trade talks with Canada are going nowhere: “Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them. Oh’ Canada!!!”

… CNN Business Editor Richard Quest: “The deal with the EU - they simply will not buy that amount of energy, and nor will they invest that amount of money. The deal with Japan - nobody knows where the $650 billion worth of investment is going to come from. The Japanese admit they don't know where it's going to come from. UK - a framework that no one has any idea what is involved. We've got the deal announced today with the S. Koreans. Trump wants headline numbers, but the underlying terms of the trade deals are garbage.”

… Karoline Leavitt: “President Trump has brokered on average one peace deal or cease-fire per month during his six months in office. It is well past time that President Trump was awarded the Nobel peace prize.”

… WH Trade Advisor Peter Navarro: "You know, a lot of people talk about Donald Trump for the Nobel Peace Prize. But I'm thinking that since he's basically taught the world trade economics, he might be up for the Nobel in economics."

We are going to continue to stay on this Epstein story with our entire team every single day because just the way Trump and his minions have handled it makes me now think whatever is in those files about Trump is way worse than I even thought a few months ago.

Of course, I will continue to cover all the other political news from economic, foreign policy, social issues, elections, etc (as this Bulletin shows) - but nothing is going to distract us away from also staying on the Epstein situation. Thanks again for supporting our work. If you missed the last Bulletin, you can find it here.

… Interior Secretary and former ND Gov Doug Burgum on Fox Business: “Q- I thought we needed all forms of energy, including wind, to power AI. But it looks like the admin is killing the entire wind industry. Is it? Burgum: We're ending the last 33 years of highly subsidized preferential treatment for certain forms of energy, particularly wind and solar.”

… Burgum then repeated Trump’s nonsensical babble, which is especially pathetic because he knows better: "When the sun goes down, you have a catastrophic failure called sunset and there's no solar energy produced, and yet we're subsidizing these things that are intermittent, unreliable, and expensive.”

… Rep. Seth Magaziner (D-RI) responded: “Hey Doug, they are called batteries. They are why clean energy continues to power millions of homes even at night. But you know that because wind and solar provide 40% of the energy in North Dakota where you were Governor. Stop lying for your boss.”

… Rob Tornoe, Philly Inquirer: “Wind power alone accounted for more than one-third of North Dakota's power supply as recently as last year.”

… The Dept. of Energy then posted this: