🗞️ Trump's words taken out of context

GREETINGS!

🔔 In today’s email:

🏠 Trump vows $10k for homeschooling families
✊ Jake Paul endorses Trump, Avengers endorse Harris
😬 Mark Cuban comments land him in hot water

🚨 Key Story:

🗣️ Harris HQ and media take Trump’s word out of context
💸 Finance Friday: Election slows down tech stocks

-Mike

QUICK BITE

Homeschooling families to be included in education funding

Trump vows to “support parents who make the courageous choice of homeschool,” by including homeschooling families in the 529 education savings accounts.

• During his administration, Trump included private schools in 529. Being a part of this ensures families $10,000 per kid for educational purposes.

• According to Trump, these additions have been tax free and will continue to be so.

• During his campaign, he emphasized “school choice,” where families can have financial access to the “right school” for them whether that be private, religious, charter, public or homeschooling.   

Meanwhile Harris’s focus is more on public education. The Biden-Harris administration has secured plans to send billions of dollars in federal funding to low-income school districts or low performing schools.

• They also have put in programs meant to expose students in low-performing schools to higher education.

• These efforts could be why the National Education Association, the American Federation of Teachers and the American Federation of School Administrators have all endorsed Harris for president.

• Whereas former Secretary of Education, William Bennett, has endorsed Trump.

• Additionally, while the presidential nominees have different plans where educational funding should be directed, both agree on raising teachers’ pay, though Trump thinks pay should be more so merit based, linking it raises to classroom performances.

QUICK BITE

Jake Paul endorses Trump, Avengers endorse Harris

Former youtuber now professional boxer Jake Paul nervously announced in a near nineteen minute video, his endorsement for Trump.

• Paul admitted he believed doing so could have serious implications on his career and personal life.

• However, in his words he felt it was necessary to do so in order “to quite literally save America.” He advised others to not “be a sheep in a world full of sheep.” 

• He believes 90% of the U.S media is owned by Democrats, which he says makes it hard to have an opinion that goes against the mainstream tide.

• While Paul can no longer vote since he moved to Puerto Rico, he wanted to offer another voice to the endorsement list.

• To his audience he summarized his Trump backing in two sentences: "Democrats have been in power for 12 of the last 16 years. So, if we aren’t happy with the current political state, economic state, environmental state, then who is to blame?"

In a less lengthy post, Lebron James gave Harris his endorsement, writing:

• “What are we even talking about here?? When I think about my kids and my family and how they will grow up, the choice is clear to me. VOTE KAMALA HARRIS!!!”

• The video he shared alongside this statement featured Trump’s controversial soundbites and ended with typed words, “hate takes us back.”

• Lebron’s endorsement came as no surprise as he’s actively supported the democratic party for years now.

The cast of “AVENGERS,” which included Robert Downey Jr, Chris Evans, Scarlett Johansson, Mark Ruffalo, Danai Gurira, Don Cheadle and Paul Bettany, reunited to also endorse Harris.

• They even found a campaign slogan for her, “down with democracy.” These celebrities join the list of Taylor Swift, Beyonce and Arnold Schwarzengger who have all voiced their support for Harris.

• Still, Trump may be able to use this to his advantage, as he has become the option for those tired of those in Hollywood’s world.

QUICK BITE

Mark Cuban comments on women Trump supporters controversy

Comments from the former Shark Tank judge and billionaire Mark Cuban has landed him in the spotlight over women who support Trump.

• Cuban said, “Donald Trump, you never see him around strong, intelligent women.”

• Republican women, both those working for Trump and those who voted for him, immediately shot back, supporting the idea Cuban was calling those who stood by Trump, dumb and weak.

• Republican National Committee co-chair, Lara Trump, was one of the first to comment saying “Just when you think the Kamala camp can't possibly alienate and divide people any more than they already have...now they attack women who support Trump. Nice job, Mark."

According to Cuban’s defense statement and based on his original full clip, Cuban was referring to how Trump was not seen with his ambassador to the UN, Nikki Haley, because, in Cuban’s view, Trump is intimidated by strong, intelligent women.

• To this point Cuban added, “I’m happy to clarify that 1. I know many strong, intelligent women voting for Trump including my extended family. I’m certainly not saying female voters are not smart, strong and intelligent. 2. I know he has worked with strong intelligent women, like Elaine Chao, Kelly Anne [sic], Ivanka and many others.”

• Despite the controversy, Cuban stands by his full statement which was meant to express his belief that Trump “does not like to be challenged publicly.”

KEY STORY

Kamala HQ & media take Trump’s border comments out of context

Kamala HQ and nearly every mainstream media outlet, are putting Trump’s line “I’m gonna do it, whether the women like it or not,” in the context that he will take away abortion access. Just a simple google search of this line and a plethora of articles and responses from Harris falsely claim his comment to refer to that.

In fact, Harris told reporters in Wisconsin in regards to Trump’s quote, "’It's just -- it's actually is, I think, very offensive to women in terms of not understanding their agency, their authority, their right and their ability to make decisions about their own lives, including their own bodies.” 

In reality, during his rally in Wisconsin, Trump’s miscued remarks were referring to  immigration.

Here’s the full context of what Trump said: 

“Kamala has imported criminal migrants from prisons and jails from insane asylums and mental institutions all over the world from Venezeuala to the congo including savage criminals who assault, rape and murder our women and girls. Anyone who would let monsters kidnap and kill our children does not belong anywhere the oval office…and my people [campaign advisors] told me about four weeks ago, I was saying, ‘oh I want to protect the people, I want to protect the women of our country,’ ‘sir please don’t say that,’ ‘why?’ They said ‘we think it’s very inappropriate for you to say.’ I said ‘why, I’m president, I want to protect the women of our country.’ They said ‘sir, I just think it’s inappropriate for you to say.’ I pay these guys a lot of money. Can you believe it? I said ‘well I’m going to do it, whether the women like it or not, I gotta protect them…I’m gonna protect them from migrants coming in. I’m gonna protect them from foreign countries.’” 

Whether one agrees with Trump’s view of immigration, it’s clear he’s not talking about abortion here.

Rep. Byron Donalds, R-Fla., grilled CNN host John Berman for taking Trump’s quote out of context. When Donalds explained what was actually said, Berman argued he understood the context. While in that exchange Berman didn’t use the “whether they like it or not,” quote as Trump’s take on abortion, he did single in on that quote. This insented Donalds reply, “That is grossly inaccurate what you just played.” 

Related to Trump’s Wisconsin, was his full on embracement of Biden’s comments about Trump supporters and “garbage.” During a Voto Latino hosted campaign call, Biden addressed how a Trump rally speaker, comedian Tony Hinchcliffe, called Puerto Rico ‘a floating island of garbage.’ (While this sparked outrage from republicans and democrats alike, many of Hinchcliffe’s fans defended him that he is a known roaster, and shouldn’t have been invited if Trump was not trying to offend everyone.) 

Biden started a controversy of his own though when he said,  ‘I don't -- I -- I don't know the Puerto Rican that -- that I know -- or a Puerto Rico, where I'm fr- -- in my home state of Delaware, they're good, decent, honorable people. The only garbage I see floating out there is his supporters -- his -- his demonization of Latinos is unconscionable, and it's un-American. It's totally contrary to everything we've done, everything we've been.” 

Thus, Trump showed up to the Wisconsin rally in a garbage truck and a sanitation worker vest. However, Biden’s remarks could be just another case of a misinterpretation. The White House is saying it’s all about the apostrophe. 

The Washington Post broke it down into three possibilities: 

“‘The only garbage I see floating out there is his supporters. His — his — his demonization of Latinos is unconscionable, and it’s un-American.’”

“‘The only garbage I see floating out there is his supporters’ — his — his — his demonization of Latinos is unconscionable, and it’s un-American.’”

“‘The only garbage I see floating out there is his supporter’s — his — his — his demonization of Latinos is unconscionable, and it’s un-American.’”

The first one would refer to at least some of Trump’s supporters; the second to his supporters’ demonization; the third plausibly to Hinchcliffe. Like many of the week’s controversial statements, this will probably be debated until the next campaign crisis comes along.

FINANCE

Presidential election slows tech stocks

Technology stocks have experienced a slowdown this week as the Presidential election draws near. Despite exceeding earnings expectations, Amazon (AMZN) dropped 3.18% and Apple (AAPL) fell 1.82%. Similarly, Microsoft and Meta also beat expectations but are trending downward.

Top News This Week:

• NVIDIA: The tech giant has surged ahead, surpassing Apple to become the world’s most valuable company.

• LLY: The manufacturer of Ozempic faced a setback, with stock prices falling 6.28% this week, as its products Zepbound and Monjauro missed earnings expectations.

Other News:

• Stellantis (STLA): The automaker reported a significant decline in Q3 revenue due to falling demand.

• Ford (F): Also experiencing decreased demand and slower sales, the CEO announced a holiday production pause for the F-150 Lightning until the new year.

• Starbucks (SBUX): Has also seen a negative trend during the start of the holiday season as sales have dropped off significantly.

• Humana (HUM): The health insurance giant has overcome its expectations and rose to the occasion facing the high healthcare costs.  

• Caterpillar (CAT): The world’s largest machine maker by market cap came out this week saying they will make less money this year than expected. The stock has been trending down ever since. CAT is a large construction company, analyst are saying if this industry is suffering, the economy might also be doing poorly also.

ECONOMY

• US 10-Year Yield: 4.28%

• US 2-Year Yield: 4.16%

• Gold Price: $2,787

In recent news, The Feds released a lot of reports the past few days indicating the KPI of our current economy. 

Recent Federal reports indicate:

• GDP: Increased to about 2.75% for Q3, which, while below expectations, signals economic growth.

• Private Payrolls: The job report revealed 233,000 jobs added, surpassing Wall Street forecasts.

• Consumer Confidence: Showed improvement, with higher numbers compared to last month.

• PCE: Came in slightly above expectations, with falling gas prices benefiting consumers. The CORE PCE remained stable, leading analysts to predict potential interest rate cuts by the Fed.

• Job Reports: October saw a 23% decrease in layoffs, indicating companies' desire to retain employees.

Gold hasn’t slowed down at all as investors seek a more safe and conservative approach. 

CRYPTO

• BTC: $69,948

• ETH: $2,513

• SOL: $168.56

Bitcoin briefly exceeded $72,000 mid-week but has since cooled ahead of election day. Inspired by Donald Trump's Bitcoin initiatives, Florida’s pension program is opening investment opportunities in crypto for retirees, joining Michigan and Wisconsin, which have already invested in Bitcoin ETFs this year. This aims to diversify portfolios and include major asset classes. Meanwhile, Dubai is positioning itself as a leading crypto capital, attracting numerous crypto companies with its relaxed regulations and investor-friendly environment.

REAL ESTATE:

• 30-Year Mortgage Rate: 7.09%

• 15-Year Mortgage Rate: 6.48%

According to Redfin, many homebuyers have seen their purchasing power diminish by nearly $33,000 in the past two months. For instance, a buyer who could previously afford a $500,000 home can now only afford $467,000. Mortgage rates have slightly increased, rising about 0.6% over the past month. Contrary to expectations that rising interest rates would lower home prices, prices have continued to climb for the first time in weeks.

FROM THE EDITOR

You’re a special kind of person if you reached the end of the road here. :)

-Mike