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Venezuela National Assembly approves expansion to PDVSA ad-hoc board

FILE PHOTO: FILE PHOTO: Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas
FILE PHOTO: Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. REUTERS/Carlos Garcia Rawlins/File Photo

April 9, 2019

CARACAS (Reuters) – Venezuela’s opposition-controlled National Assembly on Tuesday approved an expansion of the ad hoc board of state-run oil company Petroleos de Venezuela to nine members from the current five, and also allowed it to negotiate foreign debt.

The board’s new head will be former PDVSA executive Luis Pacheco, said lawmaker Elias Matta, head of the assembly’s energy commission. The expanded board would also be able to represent the company overseas, Matta said in congress.

(Reporting by Luc Cohen, Corina Pons and Marianna Parraga; editing by Jonathan Oatis)

Source: OANN

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Venezuelan opposition leader's wife emerges as potent force

With her youthful energy and globe-trotting, the 26-year-old wife of Venezuelan opposition leader Juan Guaido is emerging as a prominent figure in his campaign to bring change to the crisis-wracked country.

Fabiana Rosales' age and informal dress, often jeans, while touring Latin America belie an inner toughness and maturity cultivated with her activist husband during street protests in Venezuela's capital. Her husband has since claimed Venezuela's interim presidency, setting up a standoff with President Nicolas Maduro.

"Look, I am the wife of President Juan Guaido and I will accompany him on whatever route he takes and we will overcome whatever obstacles we face as we have done through all our years together," Rosales said during an interview. "But I got involved in politics because I want to change my country."

Source: Fox News World

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Central Banks Shouldn’t Fight Deflation

Currently we can observe a general slowdown in the annual growth rate in price inflation across major countries around the world.

For instance the yearly growth rate of the US consumer price index (CPI) fell to 1.5% in February from 1.6% in January and 2.2% in February last year. In Europe, the yearly growth rate of the EMU CPI stood at 1.5% in February versus 1.4% in January and 2.3% in October 2018.

The annual rate of China’s CPI has also eased in February falling to 1.5% from 1.7% in January and 2.9% in February the year before.The growth momentum of the UK CPI also displays softening with the yearly growth rate standing at 1.8% in February against 2.1% in the month before and 3% in January 2018.

Most commentators are of the view that deflation generates expectations for a decline in prices. As a result, it is held, consumers are likely to postpone their buying of goods at present since they expect to buy these goods at lower prices in the future. This weakens the overall flow of spending and in turn weakens the economy. Hence, such commentators believe that policies that counter deflation will also counter the economic slump.For many commentators and economic experts to counter a decline in the annual growth of the CPI, which they fear could develop into a general decline in prices; they advocate that central banks should maintain a very loose monetary stance. For these experts a possible decline in prices — which they label as deflation — poses a major threat to the economy.

It would appear that if deflation leads to an economic slump then policies that reverse deflation should be good for the economy. Reversing deflation will simply involve introducing policies that support general increases in the prices of goods, (i.e., price inflation). By this way of thinking, inflation could actually be an agent of economic growth.

According to most experts, a little bit of inflation can actually be a good thing. Mainstream economists believe that inflation of 2% is not harmful to economic growth, but that inflation of 10% could be bad for the economy.

Why should a rate of inflation of 10% or higher be regarded as a bad thing? If anything at inflation rate of 10% it is likely that consumers are going to form rising inflation expectations, and according to popular thinking, in response to a high rate of inflation, consumers will speed up their expenditure on goods at present, which should boost economic growth. Clearly, there is a problem with the popular way of thinking.

Inflation Is not Essentially a Rise in Prices

Inflation is not about general increases in prices as such, but about the increase in the money supply. As a rule, the increase in money supply sets in motion general increases in prices. This, however, need not always be the case.

The price of a good is the amount of money asked per unit of it. For a constant amount of money and an expanding quantity of goods, prices will actually fall. Prices will also fall when the rate of increase in the supply of goods exceeds the rate of increase in the money supply.

For instance, if the money supply increases by 5% and the quantity of goods increases by 10%, prices will fall by 5%.

A fall in prices however, cannot conceal the fact that we have inflation of 5% here because of the increase in money supply.

The reason why inflation is bad news is not of increases in prices as such, but because of the damage inflation inflicts to the wealth-formation process. Here is why.

The chief role of money is to fulfill the role of the general medium of exchange. Money enables us to exchange something we have for something we want. Before an exchange can take place, individuals must have something useful that they can exchange for money. Once they secure the money, they can then exchange it for the goods they want.

Now, consider a situation in which money is created out of “thin air.” This new money is no different from counterfeit money. The counterfeiter exchanges the printed money for goods without producing anything useful. He in fact exchanges nothing for something. He takes from the pool of real goods without contributing to the pool.

The economic effect of money that was created out of thin air is the same as that of counterfeit money — it impoverishes wealth generators.

The money created out of thin air diverts real wealth towards the holders of new money. This weakens wealth generators ability to generate wealth and this in turn leads to a weakening in economic growth. Note that as a result of the increase in the money supply what we have here is more money per unit of goods, and thus, higher prices.

What matters, however, is not price rises as such but the increase in money supply that sets in motion the exchange of nothing for something or “the counterfeit effect.”

The exchange of nothing for something weakens the process of real wealth formation. Therefore, anything that promotes increases in the money supply can only make things much worse.

Changes in prices are just a symptom, as it were, and not the primary causative factor. So, countering a falling growth momentum of the CPI by means of loose monetary policy (i.e., by creating inflation) is bad news for the process of wealth generation and hence for the economy.

Moreover, in order to maintain their lives and well-being, individuals must buy goods and services in the present. Therefore, from this perspective, a fall in prices as such cannot be bad for the economy.

Furthermore, if a fall in the growth momentum of prices emerges on the back of the collapse of bubble activities in response to a softer monetary growth, then this should be seen as good news. The less non-productive bubble activities the better it is for the wealth generators and hence for the overall pool of real wealth.

Likewise, if a fall in the growth momentum of the CPI emerges because of the expansion in real wealth for a given stock of money, obviously this is great news since more people could now benefit from the expanding pool of real wealth. We can thus conclude that contrary to the popular view, a fall in the growth momentum of prices is always good news for the wealth generating process and hence for the economy.



A recent article from CNN says that keeping up with comedians like “John Oliver” is the same as being informed about the news.

Source: InfoWars

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Italy’s League not considering joining same euro parliament group with 5 Star: Salvini

FILE PHOTO: Italian Deputy Prime Minister and right-wing League party leader Matteo Salvini attends a news conference at the Foreign Press Club in Rome
FILE PHOTO: Italian Deputy Prime Minister and right-wing League party leader Matteo Salvini attends a news conference at the Foreign Press Club in Rome, Italy December 10, 2018. REUTERS/Tony Gentile/File Photo

February 20, 2019

ROME (Reuters) – Italy’s right-wing ruling coalition League party is not considering forming a group with its government ally, the anti-establishment 5 Star Movement, at the European parliament after the May election, its leader said on Wednesday.

“I’m not thinking about a single group,” Matteo Salvini told in a interview with Radio RTL 102.5.

(Reporting by Giselda Vagnoni)

Source: OANN

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Policymakers Favor Theory Over What Works

Context is key.

During last week’s Friday Gold Wrap podcast, Mike Maharrey emphasized the importance of understanding sound economic theory.

Without a firm grasp of basic economic principles, it becomes impossible to properly evaluate any observations you make and to properly interpret economic data.

As economist Frank Shostak put it in a recent article published at the Mises Wire, “In order to really make sense of the data one must have a theory, which stands on its own feet, and did not originate from the data. By means of a theory, one could scrutinize the data and could then try to make sense out of it.”


Mike Adams exposes the agenda of the private Fed as a war against the prosperity of Americans that simply want to make America great.

Shostak goes on to explain the most fundamental economic concept and how we can use the framework of “human action” to better understand economic data.

The following article by Frank Shostak was originally published on the Mises WireThe views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold. 

Could historical data by itself serve as the basis for the factual assessments of the world of economics? It is believed that through the application of statistical methods on historical data, or just by gazing at the data, one could extract the facts of reality regarding the world of economics. But in order to really make sense of the data, one must have a theory, which stands on its own feet, and did not originate from the data. By means of a theory, one could scrutinize the data and could then try to make sense out of it.

The key ingredient of such a theory is that it must originate from something real that cannot be refuted. A theory that rests on the foundation that human beings are acting consciously and purposefully fulfills this.

Contrary to popular thinking, economics is not about GDP, the CPI, or other economic indicators as such, but about human activities that seek to promote people’s lives and well-being. One can observe that people are engaged in a variety of activities. They are performing manual work, they drive cars, and they walk on the street and dine in restaurants. The distinguishing characteristic of these activities is that they are all purposeful.

Thus, manual work may be a means for some people to earn money, which in turn enables them to achieve various goals such as buying food or clothing. Dining in a restaurant could be a means to establishing business relationships. Driving a car could be a means for reaching a particular place. In other words, people operate within a framework of ends and means; they are using various means to secure ends.

Purposeful action implies that people assess or evaluate various means at their disposal against their ends.

At any point in time, people have an abundance of ends that they would like to achieve. What limits the attainment of various ends is the scarcity of means. Hence, once more means become available, a greater number of ends, or goals, can be accommodated — i.e., people’s living standards is going to increase.

Another limitation on reaching various goals is the availability of suitable means. Thus to quell my thirst in the desert, I require water. Diamonds in my possession will be of no help in this regard.

That human beings are acting consciously and purposefully cannot be refuted, for anyone that tries to do this does it consciously and purposefully i.e. he contradicts himself.

Ludwig von Mises, the founder of this approach, labeled it as praxeology. By stating that human beings act consciously and purposefully Mises was able to derive the entire body of economics.

Causes in economics originate from human beings

That man pursues purposeful actions implies that causes in the world of economics emanate from human beings and not from outside factors.

For instance, by looking at the data without a coherent framework of thinking one could fit any theory to provide an explanation of what the heart of economic growth is all about.

However, if we start from the fact that human beings are operating in the means-ends framework then one is likely to establish that without an expansion in the means of sustenance no sustainable expansion in economic growth is going to emerge.

In his framework of thinking, Mises was very precise in presenting the essence of the terms he employed. For Mises defining the terms was the key for successful analyses. For instance, his analysis of money begins by establishing the definition of money. To do that Mises started from the beginning — at the point where the world was in a state of direct exchange.

According to Mises the distinguishing characteristic of money, that it is the general medium of exchange. It has evolved from the most marketable commodity. On this, he wrote,

“There would be an inevitable tendency for the less marketable of the series of goods used as media of exchange to be one by one rejected until at last only a single commodity remained, which was universally employed as a medium of exchange; in a word, money.”

Money is the thing that all other goods and services are traded for. This fundamental characteristic of money must be contrasted with other goods.

For instance, food supplies the necessary energy to human beings. Capital goods permit the expansion of the infrastructure that in turn will permit the production of a larger quantity of goods and services.

Once the definition of money is established, we are now ready to explore the interactions between money and various parts in an economy.

Two Kinds of Economists

In mainstream economics there are two types of economists — in one camp, there are the so-called theoreticians, or “ivory-tower economists,” who generate various imaginary models and use them to form an opinion on the world of economics.

In the other camp, we have the so-called “practical” economists, who derive their views solely from the data.

Whereas the ivory-tower economists are of the belief that the key to the secret of the economic universe is via abstract models, the “practical” economists hold that if one “tortures” the data long enough, it will ultimately confess and the truth will reveal itself.

Economic theory, however, must have only one purpose — to explain the essence of the subject matter of economics. However, statistical methods are of no help in this regard. All that various statistical methods can do is just compare the movements of various historical pieces of information. These methods cannot identify the driving forces of the world of economics.

(Photo by NikolayFrolochkin/Pixabay)

Likewise, models that are based on economists’ imaginations are not of much help either since these theories are not ascertained from the real world.

For example, in order to explain the economic crisis in Japan, the famous mainstream economist Paul Krugman employed a model that assumes that people are identical and live forever and that output is given. Whilst admitting that these assumptions are not realistic, Krugman nonetheless argued that somehow his model could be useful in offering solutions to the economic crisis in Japan.

Using Data Within the Context of Human Action

The knowledge that human actions are conscious and purposeful allows us to make sense out of historical data. According to Murray Rothbard,

One example that Mises liked to use in his class to demonstrate the difference between two fundamental ways of approaching human behavior was in looking at Grand Central Station behavior during rush hour. The “objective” or “truly scientific” behaviorist, he pointed out, would observe the empirical events: e.g., people rushing back and forth, aimlessly at certain predictable times of day. And that is all he would know. But the true student of human action would start from the fact that all human behavior is purposive, and he would see the purpose is to get from home to the train to work in the morning, the opposite at night, etc. It is obvious which one would discover and know more about human behavior, and therefore which one would be the genuine “scientist”.

To undertake the identification of a data, one is required to reduce it to its ultimate driving force, which is purposeful human action. For instance, during an economic slump, a general fall in the demand for goods and services is observed. Are we then to conclude that the fall in the demand is the cause of an economic recession?

We know that people persistently strive to improve their life and well-being. Their demands or goals are thus unlimited. The only way then for general demand to fall is via people’s inability to support their demand. In short, problems on the production side, i.e., with means, are the likely causes of an observed general fall in demand.

Data and Money Production

Alternatively, consider the situation in which the central bank announces that increasing money supply growth while price inflation is low could lift real economic growth. To make sense of this proposition we must examine the essence of money. Money is the medium of exchange. Being the medium of exchange, money can only facilitate existing real wealth. It cannot create more wealth. Money cannot be used in production. It cannot be used in consumption. Hence, we can conclude that printing money is not the right mean to promote economic growth. In other words, the goal — of lifting real economic growth — cannot be achieved by means of printing money. On the contrary, we can establish that printing money is going to set in motion an exchange of nothing for something and thus the weakening in the wealth-generating process.

The knowledge that people are pursuing purposeful actions also permits us to evaluate the popular way of thinking that holds that the “motor” of an economy is consumer spending — i.e., demand creates supply. We know, however, that without means, no goals can be met. However, means do not emerge “out of the blue” — they must be produced first. Hence, contrary to the popular thinking, the driving force is supply and not demand.

The fact that man pursues purposeful actions implies that causes in the world of economics emanate from human beings and not from outside factors. Whilst it is true that people will respond to increases in their incomes, the response is not automatic. Every individual assesses the increase in income against the particular set of goals he wants to achieve. He might decide that it is more beneficial for him to raise his investment in financial assets rather than to raise consumption.

Conclusion

Data by itself cannot produce much information about the facts of reality without a theory that “stands on its own feet” and is not derived from the data.

Gazing at the data cannot assist an analyst in establishing causes in the world of economics. All that gazing will do is to help describe things. To ascertain the underlying causes one requires an explanation that can be made by a logically worked out theory.

The arbitrary nature of mainstream economics has given rise to the view that there is a gulf between theory and practice. There is no such thing as a good-but-not-applicable theory. A good theory is also an applicable one.

Economists and various other financial experts who derive their knowledge of the economy solely from statistical correlations of various historical data or from pure gazing at the data run the risk of misleading themselves and their audiences.

Likewise, economists who base their views on imaginary models are not in a position to say anything meaningful, and whatever they utter is just plain arbitrary.


Words have become redefined by the left over time. Owen Benjamin breaks down how that shapes reality.

Source: InfoWars

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Adidas shares fall as supply chain problems slow growth

FILE PHOTO: Adidas logo on a football at Euro 2016 semi final in Lyon, France
FILE PHOTO: General view of a match ball with Adidas logo at the Euro 2016 semi final in Lyon, France REUTERS/Carl Recine/File Photo

March 13, 2019

HERZOGENAURACH, Germany (Reuters) – Adidas expects supply chain issues to curb sales growth in the first half of the year, particularly in North America, but said it hopes to see off a challenge from Nike in Europe and return to growth in the region.

Shares in the German sportswear brand, up 22 percent in the last year, initially fell more than 5 percent but pared loses to trade down 3.5 percent by 1040 GMT.

Nike has been regaining ground, helped by a steady stream of new product launches and a strong showing by Nike-sponsored teams at the soccer World Cup, after several years when Adidas ate into its home market of North America.

Adidas said currency-neutral sales growth would slow to between 5 and 8 percent in 2019, from 8 percent in 2018, with supply issues accounting for a 1-2 percent fall as it struggles to meet strong demand for mid-priced apparel.

In contrast, Nike has forecast sales growth for 2019 approaching low double digits, and German rival Puma a currency-adjusted 10 percent.

“The volume grew quicker than anticipated and we didn’t respond quickly enough to that demand signal,” Chief Executive Kasper Rorsted told a news conference, noting that Adidas had doubled its sales in North America in the last three years.

Adidas produces 457 pieces of apparel a year, sourcing most of them from Cambodia, China and Vietnam. Rorsted said the shortages had nothing to do with U.S. trade tensions with China.

The company expects sales growth of just 3-4 percent in the first half of the year, speeding up in the second half as it ramps up supplies by reallocating factory capacity and prioritizing the U.S. market.

“The overall outlook is very solid for 2019, although top line growth will be rather back-end-loaded and this might be a temporary drag on Adidas shares,” wrote Macquarie analysts.

Rorsted declined to comment on whether the supply chain issues resulted in the removal of Gil Steyaert as global operations head after just over a year in the role, and his replacement with Martin Shankland last month.

REEBOK RECOVERY

Adidas said it should reach an operating profit margin of between 11.3 percent and 11.5 percent in 2019, up from 10.8 percent in 2018, with the return of the Reebok brand to profit helping it hit a target originally set for 2020 a year early.

Adidas confirmed its other targets for 2020 and Rorsted said it would present a new medium-term strategy toward the end of next year.

Fourth-quarter sales rose by a currency-adjusted 5 percent to 5.234 billion euros ($5.91 billion), ahead of average analyst forecasts for 5.2 billion, while attributable net profit came in at 108 million, versus consensus for 88 million.

Sales rose 13 percent in greater China and 9 percent in North America, but fell 6 percent in Europe.

Adidas said it expected to revive growth in Europe in the course of 2019, forecasting a slight increase in currency-neutral revenues for the region.

Rorsted said that Adidas had relied too much in Europe on a short-term trend for fashion shoes, like its retro Stan Smith and Superstar, with global sales of those models down half a billion euros in 2018 from the previous year.

To recover in Europe, he said it is investing heavily in marketing, including with sponsorship deals like the one it struck with English soccer side Arsenal.

“We will continue to invest heavily in sports. We want to be the best sports company in the world, not the best fashion company,” Rorsted said.

(Reporting by Emma Thomasson; Editing by Kirsten Donovan and Keith Weir)

Source: OANN

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Rep. Mark Green blasts Dems’ ‘massive leveraging’ of legislative against executive branch

Amid the fallout of Robert Mueller's investigation, Congressman Mark Green, R-Tenn, has called the subsequent investigations by Democrats a "massive leveraging of the legislative branch against the executive branch" which, in his opinion, constitutes a "ridiculous abuse of power."

In the days since a full, redacted version of the Mueller report was released last Thursday, continued discussions about the possibility of impeachment proceedings have been brought up amongst Democrats as they investigate various elements of the President's life and attempt to determine whether he actually obstructed justice throughout Mueller's probe.

"Nearly every single Democrat committee chairman is investigating some aspect of the president," Rep. Green, a member of the House Homeland Security Committee, said during an appearance on "America's Newsroom" on Wednesday afternoon.

DEMOCRATS' EXTREME 2020 POLICIES ON ABORTION, IMMIGRATION ARE PLAYING INTO TRUMP'S REELECTION, ANALYST SAYS

FORMER CLINTON ADVISER, FIERCE CRITIC OF SANDERS NOW PRAISES 2020 CAMPAIGN

"You look at ways and means. They are looking at his taxes. The finance services, they're looking at Deutsche Bank. Oversight is looking at Mr. Klein. Judiciary is looking at McGahn. Intel is looking at collusion," he continued.

"This is a ridiculous abuse of power. They're leveraging the legislative branch against the executive branch," he said.

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He continued by arguing that despite extensive investigations by leading Democrats, the party has little to show for it. In addition, President Trump wants to reach across party lines to discuss big issues like immigration, but Democrats aren't interested, Green said.

"We can get this done, and they just want to keep investigating the president," he said. "For them, it's 2020 talking points and that's it."

Ultimately, Democrats will pay for that at the polls, Green argued.

Source: Fox News Politics

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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Good morning and welcome to Fox News First. Here’s a look at what you need to know today …

EXCLUSIVE: Trump says ‘Sleepy Joe’ Biden doesn’t have what it takes

President Trump, in a wide-ranging, exclusive phone interview with Fox News’ Sean Hannity, dismissed the launch of former Vice President Joe Biden’s presidential campaign, nicknaming him “Sleepy Joe” and saying he’s “not the brightest bulb.” Biden, the president said, has name recognition but he won’t “be able to do the job.” When asked about Sen. Bernie Sanders, I-Vt., Trump criticized his record, saying Sanders had “misguided energy” and asserted that Sanders “talks a lot” but hasn’t accomplished anything. The president referred to former U.S. Rep. Beto O’Rourke of Texas as “a fluke” who had lost much momentum and outright dismissed Sen. Kamala Harris, D-Calif., and South Bend, Ind., Mayor Pete Buttigieg — although he said he was “rooting” for Buttigieg. (Trump could address Biden and the other Democratic presidential candidates when he speaks today before the National Rifle Association.)

The Democratic Party’s youth movement: Biden’s biggest challenge?
Former Democratic National Committee (DNC) chair Howard Dean warned Joe Biden about the troubles he may face in his presidential campaign, especially from the “35-year-olds” who Dean says have been running the party — a clear nod to Rep. Alexandria Ocasio-Cortez, D-N.Y., and fellow freshmen Democrats. “This is a very different party than even the party Joe Biden ran in in 2012. Very different,” Dean continued. “A lot of people could win this race. There’s 20 people in there. I think it’s going to take $20 million to get to the starting line. If you can’t raise $20 million, you’re gone, and I think that’s going to take care of about six or eight of these folks. … But it is not the same party that it was five years ago.” A progressive political group that boosted Ocasio-Cortez’s bid for Congress last year vowed to oppose Biden and blasted him as part of the “old guard.”

More tales from the FBI texts
Text messages between former FBI officials Peter Strzok and Lisa Page indicate they discussed using briefings to the Trump team after the 2016 election to identify people they could “develop for potential relationships,” track lines of questioning and “assess” changes in “demeanor” – language one GOP lawmaker called “more evidence” of irregular conduct in the original Russia probe. Fox News has learned the texts, initially released in 2018 by a Senate committee, are under renewed scrutiny, with GOP Sen. Chuck Grassley and Homeland Security Committee chair Ron Johnson sending a letter Thursday night to Attorney General Bill Barr pushing for more information on the matter. President Trump, speaking on Fox News’ “Hannity” Thursday night, responded to this report by accusing Strzok and Page of an attempted “coup.” “They were trying to infiltrate the administration,” he said.

Kim accuses US of acting in ‘bad faith’
North Korean leader Kim Jong Un, fresh off his summit with  Russian President Vladimir Putin, said the U.S. has been acting in “bad faith” since his Hanoi meeting with President Trump over the stalemated issue of North Korean denuclearization. The North Korean leader told the Korean Central News Agency that, “the situation on the Korean Peninsula and the region is now at a standstill and has reached a critical point,” the Straits Times of Singapore reported. Kim warned that the situation “may return to its original state as the U.S. took a unilateral attitude in bad faith at the recent second DPRK-US summit talks,” the Korean Central News Agency added.

NFL Draft 2019: It’s all about defense
The first round of the 2019 NFL Draft saw a run on defensive players, with eight of the top 12 picks in Nashville coming from that side of the ball. After Oklahoma quarterback Kyler Murray was taken first overall by the Arizona Cardinals, the San Francisco 49ers started a run of four straight front-seven players by taking Ohio State defensive end Nick Bosa with the second overall pick — the highest draft slot for any Buckeye since left tackle Orlando Pace went No. 1 overall to the St. Louis Rams in 1997.

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TODAY’S MUST-READS
Fox News’ Ed Henry recalls spending time with Celtics great John Havlicek.
Massachusetts judge accused of helping illegal immigrant evade ICE pleads not guilty.
Rosenstein slams Obama administration for choosing ‘not to publicize full story’ of Russia hacking.
F.H. Buckley: What Democrats have forgotten about citizenship.

MINDING YOUR BUSINESS
Amazon crushes earnings expectations, but revenue growth slows.
Low-tax states among best places to make a living in 2019.
Construction job market booming: These states are hiring.

#TheFlashback
2018: Bill Cosby is convicted of drugging and molesting Temple University employee Andrea Constand at his suburban Philadelphia mansion in 2004; it is the first big celebrity trial of the #MeToo era.
1986: An explosion and fire at the Chernobyl nuclear power plant in Ukraine causes radioactive fallout to spew into the atmosphere. (Dozens of people are killed in the immediate aftermath of the disaster while the long-term death toll from radiation poisoning is believed to number in the thousands.)
1977: Notorious nightclub Studio 54 opens in New York.

SOME PARTING WORDS

Watch the “Special Report” panel take a look at former Vice President Joe Biden’s decision to run for president a third time and the battle for the “soul” of America.

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CLICK HERE to find out what’s on Fox News programming today and over the weekend!

Fox News First is compiled by Fox News’ Bryan Robinson. Thank you for joining us! Have a good day and weekend! We’ll see you in your inbox first thing Monday morning.

Source: Fox News National

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Joe Biden’s brain surgeon said his former patient is “totally in the clear” as speculation over the candidate’s health — with Biden possibly becoming the oldest president in U.S. history — is likely to become a campaign issue.

The former vice president, who had been perceived by many as the strongest potential contender for the Democratic Party’s 2020 presidential nomination, formally announced his candidacy Thursday.

But Biden’s age – 76 – is expected to become a source of attacks from a younger generation of Democrats not because of obvious generational differences, but possibly for actual health concerns if Biden gets into office.

WHY THE MEDIA ARE CONVINCED JOE BIDEN WILL IMPLODE

Biden himself agreed last year that “it’s totally legitimate” for people to ask questions about his health if he decides to run for president, given his medical history — which has included brain surgery in 1988.

“I think they’re gonna judge me on my vitality,” Biden told “CBS This Morning.” “Can I still run up the steps of Air Force Two? Am I still in good shape? Am I – do I have all my faculties? Am I energetic? I think it’s totally legitimate people ask those questions.”

“I think they’re gonna judge me on my vitality. …  I think it’s totally legitimate [that] people ask those questions.”

— Joe Biden

But Dr. Neal Kassell, the neurosurgeon who operated on Biden for an aneurysm three decades ago, told the Washington Examiner that Biden appears to be “totally in the clear” — and even joked that the operation made Biden “better than how he was.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it,” Kassell said. “That’s more than I can say about all the other candidates or the incumbents.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it.”

— Dr. Neal Kassell

BIDEN’S CLAIM HE DIDN’T WANT OBAMA TO ENDORSE TRIGGERS MOCKERY

At the same time, however, Biden hasn’t been forthcoming about his health at least since 2008 when he released his medical records as a vice presidential candidate. The disclosure that time revealed some fairly minor issues such as an irregular heartbeat in addition to detailing previous operations, including removing a benign polyp during a colonoscopy in 1996, the outlet reported.

It remains unclear if Biden had more aneurysms. Some medical experts say that people who have had an aneurysm can have another one.

An aneurysm, or a weakening of an artery wall, can lead to a rupture and internal bleeding, potentially placing a patient’s life in jeopardy.

Biden won’t be the only Democrat grappling with old age. Sen. Bernie Sanders, another 2020 frontrunner, is currently 77 years old and agreed with Biden last year that their ages will be an issue in the race.

“It’s part of a discussion, but it has to be part of an overall view of what somebody is and what somebody has accomplished,” Sanders told Politico.

“Look, you’ve got people who are 50 years of age who are not well, right? You’ve got people who are 90 years of age who are going to work every day, doing excellent work. And obviously, age is a factor. But it depends on the overall health and wellbeing of the individual.”

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Sanders released his medical records in 2016, with a Senate physician saying in a letter that the senator was “in overall very good health.”

Source: Fox News Politics

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German carmaker Daimler endured a weak start to the year, echoing troubles at other major manufacturers, as sales in the big Chinese market stuttered.

The company said Friday that its net income fell to 2.1 billion euros ($2.3 billion) in the first quarter from 2.3 billion euros during the same period a year earlier, while revenue dipped to 39.7 billion euros from 39.8 billion euros.

Vehicle sales fell 4% to 773,800 units, with a double-digit percentage drop in China offsetting gains in other markets like the U.S. and Europe.

The company said there were also problems with high inventories and bottlenecks in the supply chain.

Chairman Dieter Zetsche said that “we cannot and will not be satisfied with this — as expected — moderate start to the year.”

Source: Fox News World

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