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This morning, economist Paul Krugman came right out and said
it: “People close to Trump are trading based on national secrets.” Another word
for that, he said, is “treason.” The evidence for such a claim is the sudden
and isolated jump in trading volume in S&P 500 and oil futures about 15
minutes before Trump suddenly announced that the U.S. and Iran were in
negotiations to end the war—an announcement that turned out to be false.
The oil futures trade alone was worth about $580 million,
the Financial Times estimated. As Krugman notes, exploiting confidential
information for financial gain, otherwise known as “insider trading,” is
illegal. But exploiting confidential information about national security for
private financial gain is something else again. It puts profit-making above
Americans’ safety.
“I’d very much like to know exactly who was making those
trades yesterday morning,” Krugman wrote. “Were they people directly in the
know, or billionaires/traders who paid people in the know for tips?”
There certainly are signs that Trump considers the
government his to do with as he wishes to keep himself in wealth and power. In
the Washington Post Monday, architecture critic Philip Kennicott
examined how Trump is smashing the historic lines and architecture of the
national capital.
Trump’s plan for a gargantuan 90,000-square-foot ballroom
will dominate the original White House and cut into the lines of the driveway
designed a century ago by the great landscape architect Frederick Law Olmsted.
His proposed 250-foot arch near Arlington National Cemetery would be the
largest triumphal arch in the world, overshadowing the nearby Lincoln Memorial.
His proposed “National Garden of American Heroes” between the Lincoln Memorial
and the Tidal Basin would take the park near monuments dedicated to Presidents
Thomas Jefferson and Franklin Delano Roosevelt and to the Reverend Dr. Martin
Luther King Jr. and fill it with hastily made statues to “showbiz stars, folk
heroes, and sports celebrities.”
By stuffing oversight panels with his own cronies, Trump has
destroyed the process of design review intended to preserve Washington as a
city whose layout and design reflects the simplicity, dignity, and majesty of
the American people. Yesterday the White House began the process of ripping the
beige Tennessee flagstone pavers out of the West Colonnade that connects the
Oval Office and West Wing to the Executive Residence. Trump wants to replace
them with black granite, which will contrast more effectively with the gold
doodads and the gold-framed portraits in the “Presidential Walk of Fame” Trump
has installed along the walk.
Trump’s vision of the U.S. is one tied to fossil fuels,
leading the administration to declare war on renewable energy. On Monday it
announced it will pay $928 million in taxpayer money to the large French energy
company TotalEnergies to buy back leases it acquired under the Biden
administration to build two wind farms, one off New York and the other off
North Carolina. TotalEnergies will then invest that money in U.S. oil and gas
projects, including one in Texas that will export liquefied natural gas.
“The era of taxpayers subsidizing unreliable, unaffordable
and unsecure energy is officially over, and the era of affordable, reliable and
secure energy is here to stay,” said Interior Secretary Doug Burgum. North
Carolina governor Josh Stein, a Democrat, told Maxine Joselow and Brad Plumer
of the New York Times: “Our state has the offshore wind potential to
power millions of homes with renewable American-made energy. It’s ludicrous and
wasteful that the Trump Administration is spending $1 billion in taxpayer money
to pay off a company to stop it from investing private dollars to create the
clean energy we need.”
Meanwhile, as airport lines grow because of the ongoing
shutdown that means Transportation Security Administration (TSA) agents aren’t
getting paid, Trump yesterday sent in Immigration and Customs Enforcement (ICE)
agents to fourteen airports in eleven cities, including Atlanta, Chicago,
Philadelphia, Houston, Phoenix, Cleveland, Fort Myers, New Orleans, and New
York City.
While CNN’s Brian Stelter speculated that Trump got the idea
for putting ICE agents in the airports from “Linda from Arizona,” who called in
to “The Clay Travis and Buck Sexton Show” last Friday, Trump ally Steve
Bannon suggested on his podcast War Room yesterday that “[w]e can use
this as a test run, as a test case, to really perfect ICE’s involvement in the
2026 midterms.” Jacob Knutson of Democracy Docket noted that Trump’s
deployment of ICE agents to airports showed both that he sees them as his own
personal law enforcement agents and that he is willing to deploy them in
situations that are not related to their actual job description.
Democratic senators have tried repeatedly to get Senate
Republicans to agree to fund all of the Department of Homeland Security except
ICE, the agency responsible for the violence in Minnesota that led to the
deaths of Renee Good and Alex Pretti. For those, Democrats have demanded
reforms.
But Trump has kept pressure on Republican senators not to
pass such a measure, instead demanding that Senate majority leader John Thune
kill the filibuster to pass legislation without the votes of Democrats. On
Sunday, Trump posted that he would not agree to any funding proposal unless
Democrats also agreed to support the so-called SAVE America Act, which would
require voters to show not just ID but also proof of citizenship, would end
mail-in voting, and would attack the rights of transgender Americans.
After the Senate confirmed former senator Markwayne Mullin
late yesterday as secretary of homeland security, replacing former secretary
Kristi Noem, Republicans offered to Democrats a measure that funded DHS without
funding ICE, but made no reforms to the agency. To fund ICE—and perhaps to pass
pieces of the SAVE America Act—they plan to use the process of budget
reconciliation, which cannot be filibustered and thus can be used to pass
measures without any Democratic support.
Democrats rejected the Republicans’ offer, noting that
Republicans have blocked eight different Democratic attempts to fund everything
in the Department of Homeland Security other than ICE and Customs and Border
Protection (CBP), the parent agency for Border Patrol. The Democrats will make
another offer.
Senator Patty Murray (D-WA), who as vice chair of the Senate
Appropriations Committee is central to the talks, said Trump’s demands have
made negotiations difficult and added: “We’ve been very clear that if we’re
talking about funding any part of ICE and CBP, we absolutely must take some key
steps to rein them in. The current Republican offer in front of us does not do
that. Reforms must make it into law.”
The SAVE America Act Trump wants is pretty openly a voter
suppression measure: voting by undocumented immigrants is already virtually
nonexistent, and it is already illegal. And the Brookings Institution reported
in 2025 that only about four cases of mail fraud occur per 10 million mail-in
ballots, or 0.000043% of total mail ballots cast. But Republicans are using the
idea of voter fraud to argue for measures that could toss more than 21 million
Americans off the voter rolls.
There is an especial irony in Trump attacking mail-in voting
as fraudulent: Bill Barrow of the Associated Press reported today that Trump
voted by mail in Tuesday’s elections in Florida. White House spokeswoman Olivia
Wales explained Trump’s position, saying that “the SAVE America Act has
commonsense exceptions for Americans to use mail-in ballots for illness,
disability, military, or travel—but universal mail-in voting should not be
allowed because it’s highly susceptible to fraud.”
In today’s special legislative elections in Florida,
Democrat Emily Gregory flipped the house district in which the Trump
Organization’s Mar-a-Lago sits. The district went for Trump by 11% in 2024.
Gregory, a business owner and a military spouse, defeated a Republican who
received Trump’s “Complete and Total Endorsement” in January. At an election
night party, Gregory told her supporters: “When we started this, nobody thought
it was possible. They thought we were crazy. I knew my community. I knew we deserved
better. We deserve a leader who will fight for us.” Gregory told CNN’s Erin
Burnett that she did not focus on Trump, but focused on her Republican opponent
and the “issues that matter most to Florida families.” “Everyone is feeling
that affordability crisis, and the last thing that Florida families needed when
they’re struggling is $4 gas,” she explained.
Trump’s niece, psychologist Mary Trump, posted: “The
Democrats just flipped a state house seat in the district where Donald
committed voter fraud by casting his ballot illegally by mail.”
Tonight, Eric Schmitt of the New York Times reported
that the Pentagon has ordered to the Middle East about 2,000 military personnel
from the U.S. Army’s 82nd Airborne Division, trained to deploy anywhere in the
world within eighteen hours. About 2,500 Marines from the 31st Expeditionary
Unit will arrive in the region later this week.
—
Notes:
Paul Krugman
Treason
in the Futures Markets
3867 likes 800 comments · Paul Krugman
https://apnews.com/article/donald-trump-vote-by-mail-bd52fd205f4484237d5b77d2e7319350
https://www.washingtonpost.com/style/2026/03/23/trump-washington-architecture-ballroom-arch/
https://www.cnn.com/2026/03/23/media/trump-ice-airports-clay-travis-fox-news
https://www.theguardian.com/us-news/2026/mar/23/us-airports-latest-tsa-ice
https://www.nytimes.com/2026/03/23/climate/offshore-wind-gas-trump-total.html
https://thehill.com/homenews/senate/5798846-senate-democrats-reject-gop-ice-proposal/
https://www.nytimes.com/2026/03/24/us/politics/82nd-airborne-division-iran-troops.html
https://www.cnn.com/2026/03/24/politics/florida-democrats-state-district-mar-a-lago-special-election
X:
MaryLTrump/status/2036598083799208064?s=20
Bluesky:
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trumpwat.ch/post/3mhqh2v2vdk2g
taniel.bsky.social/post/3mhtqtgbres2h
thetnholler.bsky.social/post/3mhu55ee4jc2m
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