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Rep. Chris Stewart (R-Utah) on Monday called on fellow GOP Rep. Steve King (R-Iowa) to resign over recent comments he made about white supremacy and white nationalism. "I wish he’d resign, frankly," Stewart said on CNN's "Cuomo Prime Time." "He’s lost the trust and faith of his comrades. For the good of the party, for the good of the American people, I think it’s time for us to make a change." His comments came just hours after GOP leaders in Congress stripped the Iowa congressman from any committee assignments in the new Congress. Stewart said that he "absolutely" agreed with...

LOS ANGELES (AP) — A skeleton crew of substitutes welcomed students to Los Angeles schools Monday as tens of thousands of teachers walked off the job for the first time in three decades, but parents wondered how much their kids were learning in the nation’s second-largest school district.

Rep. Steve King (R-Iowa) on Monday denounced GOP leaders' move to remove him from all committee assignments, calling it a "political decision that ignores the truth." “[House Minority Leader Kevin McCarthy’s (R-Calif.)] decision to remove me from committees is a political decision that ignores the truth," King said in a statement shortly after McCarthy told reporters that the Iowa congressman would not receive any committee assignments in the new Congress. King was previously a member of the House Judiciary, Agriculture and Small Business committees. He had also served as chairman of a House Judiciary subcommittee on the Constitution and...

RUSH: Okay. So it’s like Groundhog Day. It’s deja vu all over again! The New York Times and the Washington Post with gigantic stories on literally nothing! But headlined to make it look like there’s a new development in the Trump-Russia case, and that is that Trump was actually working and reporting to Russia. There is no evidence in these two stories. There is still no evidence — and they admit it — of any collusion whatsoever. And yet two brand-new and fresh stories about something that I would expect you to be bored silly by now. So the question...

On day one of the first Los Angeles Unified School District teachers’ strike in 30 years, United Teachers Los Angeles President Alex Caputo-Pearl spoke to teachers and students gathered on a rainy Monday in Los Feliz. “Here we are on a rainy day in the richest country in the world, in the richest state in the country, in a state as blue as it can be, and in a city rife with millionaires, where teachers have to go on strike to get the basics for our students,” Caputo-Pearl said. The strike, originally scheduled to take place last Thursday, was delayed...

The rapid transformation of downtown Los Angeles’ skyline is being fueled in good measure by huge investments from Chinese companies eager to burnish their global brands and capitalize on L.A.’s real estate boom. Now some of those projects have become a focus of federal agents seeking evidence of possible bribery, extortion, money laundering and other crimes as part of a corruption investigation at City Hall. The federal investigation became public in November, when FBI agents descended on the home and offices of L.A. City Councilman Jose Huizar, who represents the vast majority of downtown. In the warrant, agents sought information...

President Trump on Monday denied that he has been trying to conceal details about his discussions with Russian President Vladimir Putin after a pair of explosive press reports over the weekend. "I never worked for Russia," Trump told reporters. "It's a disgrace that you even asked that question because it's a whole big fat hoax. It's just a hoax." Trump also said he doesn't know anything about what happened to the notes taken by an interpreter when he met with Putin last summer in Finland or after other meetings with the Russian leader. The Washington Post reported that Trump has...

Jeffrey Gundlach, chief executive officer at DoubleLine Capital, said on Tuesday he expects the Federal Reserve to begin a campaign this month of "old school" sequential interest rate hikes until "something breaks," such as a U.S. recession. Gundlach, who oversees more than $101 billion at Los Angeles-based DoubleLine, said U.S. economic data support a rate increase as soon as the next Fed policy meeting on March 14-15, and further rises this year, after a series of false starts in 2015 and 2016. "Confidence in the Fed has really changed a lot," Gundlach said on an investor webcast. "The Fed has...

Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, foresees a “global growth scare” between now and the end of the summer, triggered by a presidential nomination of Donald Trump. “That is where I see the vulnerabilities,” Gundlach said in a telephone interview on Monday. Trump’s protectionist policies could mean negative global growth, Gundlach warned. “As he gets the nomination, the markets and investors are going to worry about it more. You will see a downgrading of global growth based on geopolitical risks. You must factor this into your risk-management.”

Curve Watchers Anonymous has its eyes on the bond market as the quarter comes to a close today. It's been a very bad stretch for US treasuries as the chart below shows. Yield Curve as of 2013-06-28   click on chart for sharper image   $TYX: 30-Year Long Bond Yield - Green $TNX: 10-Year Treasury Note - Orange $FVX: 05-Year Treasury Note - Blue $IRX: 03-Mnth Treasury Bill - Brown The above chart shows the monthly close for the treasury symbols, except the current month is month to date (with the close coming up today). $TNX Daily That last candle is...

The All-Important Question, Are Major Economies in Recovery? Economics / Global Economy May 15, 2012 - 04:58 PM By: David Galland David Galland, Casey Research writes: For pretty much everyone, no matter where they are located in the economic strata, few if any questions are more germane to making plans for the future than whether the US and other major global economies are in recovery. Getting the answer to that question right is of special importance to investors and businesses. Stating the obvious, if the broader economy really is in recovery, then investors would be well served by investing in...

Well-known economist Roubini announced Wednesday that there may be $100 billion of municipal-bond defaults over the next five years. His comments echo analyst Meredith Whitney's claim that there will be an enormous wave of defaults. "Roubini seems to use more of a doomsday production," said Matt Fabian, managing director of Municipal Market Advisors at The Bloomberg Insurance Portfolio Strategies Conference. "If you are going to make a prediction, be conservative. In terms of defaults, we have seen very few in the market and these have been smaller transactions." Terry Goode, head of tax-exempt research and municipal fixed income at Wells...

Newly minted House Intelligence Committee Chairman Adam Schiff hinted over the weekend that he could subpoena notes or testimony from the interpreter in several meetings between President Trump and Russia's Vladimir Putin, a move that would dramatically escalate majority Democrats' investigations into the Trump administration. The chamber's newly empowered Democratic committee chairmen already are probing a range of Trump controversies, including calling a hearing with ex-fixer Michael Cohen who has detailed Trump's alleged role in making hush-money payments to mistresses. But a move to obtain interpreter details from Putin meetings would trigger a major confrontation between the executive and legislative...

FULL TITLE: Devin Nunes: Counterintelligence bombshell shows FBI leaders 'had no real evidence against the Trump team' Rep. Devin Nunes, the top Republican on the House Intelligence Committee, said the New York Times' bombshell report on a counterintelligence investigation into President Trump's ties to Russia only strengthens the argument that the FBI has no evidence of collusion against the Trump team. "This is yet more evidence that FBI leaders actually had no real evidence against the Trump team," Nunes said in a statement obtained by the Washington Examiner's Byron York. "Instead, they were simply trying to undermine a president they...

Since January 1, neither CNN nor MSNBC has booked a single “Angel Mom” — mothers of children brutally murdered by illegal aliens — as guests on their networks, per an analysis conducted by the Republican National Committee (RNC). The RNC told Breitbart News it has tracked both networks since the beginning of the year as they intensely bash President Donald Trump over the government shutdown that is now the longest ever in the history of the United States. Since the turn of the year to 2019 from 2018, neither network has conducted a single interview with any family members of...

House Intelligence Committee Chairman Adam Schiff (D-Calif.) on Sunday floated the possibility of renewing his demand to subpoena the translator present during a July 2018 meeting between President Trump and Russian President Vladimir Putin. "Last year, we sought to obtain the interpreter’s notes or testimony, from the private meeting between Trump and Putin," Schiff tweeted. "The Republicans on our committee voted us down. Will they join us now?" ADVERTISEMENT "Shouldn’t we find out whether our president is really putting 'America first?'" Schiff wrote, a nod to one of Trump's campaign slogans. Schiff's call comes as a bombshell Washington Post report...

President Trump should encourage House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer to do more joint TV appearances, Newt Gingrich joked Sunday. Gingrich's comments come after Pelosi, D-Calif., and Schumer, D-N.Y., were mocked online last week for their awkward televised response to Trump's prime-time Oval Office address regarding his demand for roughly $5.6 billion in border wall funding which has resulted in a political standoff at the root of a record-breaking partial federal government shutdown. “[Schumer] and Pelosi were so bad the other night that the president ought to sort of pay them to go on TV once...

Kevin McCarthy, the House Republican leader, promised “action” after the latest racist remarks by Rep. Steve King (R-Iowa). “Action will be taken,” McCarthy said Sunday of King on CBS’ “Face the Nation.” “I’m having a serious conversation with Congressman Steve King on his future and role in this Republican Party."

California Governor Gavin Newsom proposed his first budget for the state on Friday, and it includes a tax on drinking water. The budget, titled “California for All,” declares drinking water a “fundamental right,” and adds: “The Budget includes short-term measures to bring immediate relief to communities without safe drinking water and also proposes an ongoing sustainable funding source to address this problem into the future.” The San Francisco Chronicle notes: “The details of the proposed tax are unknown, but a similar proposal was abandoned by then-Governor Jerry Brown last year after failing to garner enough support in the legislature.”

Secretary of State Mike Pompeo on Saturday said that the idea that President Trump was a threat to national security was “absolutely ludicrous” after the New York Times reported that the FBI launched an investigation into whether Trump posed such a threat. “I’m not going to comment on New York Times stories but I’ll certainly say this: The notion that President Trump is a threat to American national security is absolutely ludicrous,” Pompeo said on CBS’ "Face the Nation” in an interview to be aired Sunday....{snip} The timing of the investigation raises questions as both Comey and FBI lawyer Lisa...