Trump Announcement: Supreme court, Fed, Iran (Summary)

Well, we just heard a lot from the Trump

press briefing on what just happened

with Supreme Court injunctions, updates

on Iran, updates on the Trump mobile

phone. We'll talk about that as well. Uh

we've got updates on comments from or on

Jerome Powell and trade. Pretty much hit

all of the good stuff that you want to

hear about. But first, uh, everybody's

talking about what's going on with the

Supreme Court ruling or the broad ruling

today along with some of the minor

rulings and decisions that came out.

Let's just give you a quick primer on

this so you can understand why Donald

Trump held this press conference and

understand what's going on. So, here's

the scoop.

You have district court judges in the

United States that could want to favor

the governors or the politicians in the

states of which they operate. Uh, and so

there have been rumors and likely true

about what's called judicial shopping

where basically if you want to get some

kind of ruling against people in the

entire United States, just go shop for

that decision and go to places like

California, Massachusetts, Maryland, or

Washington DC and get some kind of

injunction that could apply to everyone.

Today the Supreme Court said we are not

doing that anymore. And this decision

came amongst the discussion of ending

birthright citizenship. Trump's

executive order on that and the lawsuit

related to that. Today's decision did

not end birthright citizenship. This is

very important. What today's decision

did is have the Supreme Court say, "We

will no longer allow universal

injunctions to be imposed by district

court judges that could be shopped

throughout the United States to be

applied to non uh party members of a

lawsuit. So, if you're not a party to a

lawsuit, the injunction can't apply to

you." So, basically, you can't have

these blanket injunctions. It's worth

noting some history around this. Uh,

President Obama did have about 12

blanket injunctions issued against him.

George W. Bush had about six blanket

injunctions issued against him by

district court judges. And Joe Biden had

28 issued against him. If you add that

together, you've got about 46 of these

blanket injunctions that have come up

against those three presidents together

since 2000. Donald Trump has had 64

blanket injunctions against him. Now,

people argue a that's because Donald

Trump is being targeted by these radical

left judges. People on the other side

say Donald Trump issues way more

executive orders than anybody else does,

and he may be exceeding his executive

power by doing so. The Supreme Court,

however, has argued that it's actually

the district court judges that have

exceeded their authority. Here's some

components and I put these in the Meet

Kevin app. So you can see these in the

Meet Kevin app. Remember the Meet Kevin

app is totally free. You can get that.

You see it under the news tab of the

Meet Kevin app. It's also what we use

for course members to talk about the uh

alpha report that we do every morning.

Such as this morning I suggested that

Nike should could rally up to $82 after

these earnings here. Uh and so far we're

already up 16%

of the way there. So pretty impressive

uh move here on Nike. And I think it

could keep going up to the 82 84 range.

Talked about that in the alpha report

this morning. Check it out at

mekevin.com if you haven't yet. That

said, look at the components here of

this case. Universal injunctions and

this is what was held. The universal

injunctions likely exceed this was the

holding of the Supreme Court likely

exceed the authority that Congress has

given federal courts. So basically,

these district court judges have been

determined by the Supreme Court to

exceed the authority that they have,

even though they're claiming Trump is

exceeding his authority. These district

court judges are just going too far with

blanket injunctions. So today, we

basically killed these universal

injunctions that would apply to people

who are not a party to the lawsuit. Now,

there's some comments here that are

interesting, so you could see some of

the decision-m that went into this. See

here, uh Barrett, who wrote the uh

majority opinion for the court, said

that traditionally courts issue

injunctions prohibiting executive

officials from enforcing laws or policy

only against plaintiffs to the lawsuit.

However, recently, district court judges

have applied them to anyone in the

entire United States. Uh, and they

acknowledge that a lot of this came from

this lawsuit that they're still deciding

and is likely to be decided by October,

though Justice Roberts indicates that

there will be more rulings coming out

this Monday and Tuesday. Uh, Amy Comey

Barrett suggests that the executive

order uh that Trump issued on banning

birthright citizenship takes issue with

the subject to the jurisdiction thereof

line of the 14th amendment. That issue

still needs to be decided. But really,

the Supreme Court here is saying that

what we look at when we look at

precedent and history is as a general

rule, you can't take an injunction

that's meant for parties of a lawsuit

and apply it to people who are not a

party of the lawsuit. Uh, and they come

up with this example where they

basically say, imagine you have a

neighbor who sues another neighbor for

blasting loud music at all hours of the

night. If a judge orders the defendant

to turn their music down or off, the

order not only benefits the person who

sued, but it benefits everybody around

that person. However, that doesn't mean

that other neighbors can't all of a

sudden blast their music. Instead, you

would have to have a new lawsuit against

that other person who then blasts their

lawsuit. And this is the example that

they give to say you can't just blanket

apply these injunctions to everyone. If

somebody wants to be a part of these

lawsuits, then they should they should

join these lawsuits. Now, so toayor in

her descent says, "Hey, whoa, whoa,

whoa, whoa. You shouldn't have to put

people who are just trying not to be

involved in illegal overreach by the

president into a position where they

have to sue to be a part of the

protection of an injunction like this

threat to birthright citizenship." She

says if one person says, "Hey, the

president's going too far on birthright

citizenship executive orders, then

everybody should benefit from somebody

fighting the quote unquote good fight,

if you will." And then, of course, she

goes on to say, "Hey, a future

administration might try to seize your

firearms." This is basically saying

maybe if there's a Democratic president

in the future, they might try to

overreach their executive authority by

taking away your rights uh and and and

people not essentially being able to

challenge it unless everybody sues. Uh,

of course, ultimately I think what this

does is it just consolidates more power

into the Supreme Court's hands. And I

think that's what Donald Trump sees as a

big win here is he says, "Hey, we're

we're not saying birthright citizenship

is decided. It's going to be decided in

October. We're just saying that district

court judges are going way too far in

their power to limit the power of the

presidency. If you're going to limit the

power of the presidency, it should be

done at the Supreme Court level. That's

sort of my bottom line on this. And

again, we're expecting more orders uh on

Monday or Tuesday to come out per

Roberts. And we're also expecting that

birthright citizenship decision to come

out between now and October. So, it's

still TBD what's going to happen with

birthright citizenship. Now, of course,

Donald Trump argues that, hey,

birthright citizenship is is just a way

for people to basically pop out anchor

babies. This is a very crude way to put

it, uh to to stay in the United States.

I mean, even Obama was trying to push

for deferred def uh deferred

deportments, deports, deportations for

uh parents of children who were born

here. So basically, you come here, you

have a baby, baby's a citizen, and then

Obama was pushing for the parents not to

get deported because, well, they have a

child there, try to prevent the

separation of families. There was

actually uh a a blanket or universal

injunction against Obama uh and they

were not able to implement that policy

because one of these blanket

injunctions. So both Democrats and

Republicans have been affected by these

blanket injunctions and it really just

pushes everything up to the Supreme

Court who's got a pretty busy docket

already. But obviously Trump declares

this a win even though it's not a

decision on birthright citizenship that

to come. Uh it it does indicate that you

are taking power away that has sort of

been usurped if you will uh from some of

these lower district court judges. Okay.

Uh Kavanaaugh also goes in here to say

that uh you can ask courts to once

courts decide to rather than issuing a

uh injunction to issue a classwide

relief to an entire state, region or

even nation, but to not just have an

injunctive ruling to actually complete

the legislative proc or the the um uh

the court process, so to speak, and

complete a case and then apply a ruling

to an entire nation.

You could still do that, but you can't

just issue an injunction, which

injunctions are often filed within the

first few weeks of a lawsuit without

actually fully litigating a case. Donald

Trump then came out and talked about

trade a little bit. He says within the

next two week or two, we'll send a

letter on tariffs. Uh he says that uh

tariffs will not cause a recession.

Anybody who thinks show should go back

to business school. Uh in that

factories, autos and AI are pouring into

the United States. Uh we uh he also said

that he almost canled a trade deal with

India and Pakistan because they were

threatening each other especially with

nuclear weapons. Keep in mind we we

haven't had a deal yet with the deficit

nation on tariffs. We did just have the

framework of a deal signed with China

which is basically hey we'll lower some

tariffs. We'll allow the import of some

rare earth materials. One of the reasons

why MP material is going down today.

Potentially the metals company might be

affected by this as well to the negative

side. Uh but this is China's agreement

to allow six months of rare earth

minerals into the United States in

exchange for some relaxation of

restrictions. Of course, we don't

actually have a complete trade deal with

China. Uh though this is the deal we

talked about two weeks ago in uh London

that has now been formalized within the

last couple days. And Donald Trump talks

about another trade deal coming out with

India soon. Though so far this is just

talk. We haven't seen an actual deal

yet. Knock on wood we get a deal. As far

as the uh July 9th deadline, Donald

Trump suggests that we could extend that

deadline. We could speed it up, but it's

not like a hard and fast deadline that

this liberation day 2.0 is going to come

July 9th. So, in other words, don't

panic is what he's saying. But he would

like to just send a letter to a bunch of

countries and say, "This is what your

tariffs are going to be." Now, CNBC

actually had a piece this morning where

they talked a little bit about how parts

of the economy are slowing down a little

bit because of tariffs. In fact, we're

seeing warehouse levels down. We're

seeing inventory starting to slow down.

And there's some suggestion in the

economy that some of the increase that

we saw in spending and inventory buildup

before and right after tariffs might

just be temporary, which does indicate

that there could be some slowdown in the

economy. Now, keep in mind, personal

incomes did decline this morning for the

first time since 2021. However, a lot of

that was due to changes in government

benefits, not actually in incomes from

salaries or compensation. So, I think

that's more of like a one-time anomaly

and not necessarily a bad sign in the

economy. Donald Trump does also then hit

on Jerome Powell, saying that Jerome

Powell probably has Trump derangement

syndrome because uh after all, you know,

Trump thinks that rates should be

lowered. The problem here obviously is

are we going to see some form of uh pass

through of tariffs uh from tariffs?

Donald Trump thinks no. I personally

think no because I think it'll get

absorbed by corporate margins which

reduces corporate profits and

potentially leads to layoffs. So my

opinion is that the damage of tariffs

won't actually show up in higher prices.

It'll show up in higher layoffs which

means the Fed should kind of get with it

and cut rates. Donald Trump says, "We've

got no inflation and the jobs market is

fine. Let's just cut rates because

there's no inflation." JPAL says, "Hey,

but the inflation is coming." Obviously,

TBD, what happens here? You know, some

people like Zero Hedge, they had a piece

where they argue that JPA is just sort

of shell shocked at the last time they

didn't respond to inflation

appropriately with their transitory

mistake, and that's why they're uh

moving very slowly. Now though, markets

really seem to be propping up the idea

of a September cut, including Qashqari

coming out this morning suggesting,

yeah, two cuts is probably where we're

going uh for the year with our first cut

in September. Uh and so this is leading

the bond market uh to see yields fall at

least a little bit. Uh today the bond

yields went negative again. They were

actually green a little bit this morning

when we first got data. But we see the

10-year is now under 4 and a quarter.

And if you look at the 102 spread, we're

still in shock territory at about 52.

Usually what happens here is if you

start seeing unemployment pain, the

2-year is going to skyrocket uh or

sorry, the plummet rather, which will

make this spread between the two and the

10 skyrocket and and that's when you

typically hit recessionary environments.

Uh at the same time there is some news

here and reporting from the financial

times that Trump mobile has dropped its

made in America smartphone promise that

these phones will be made in America

that has been dropped. Uh I actually

made a video uh on what is it just found

maker of Trump phone and its stock and

it appears to be Wing Tech which you

could buy on the Hong Kong stock market

I believe. So you'd have to use like an

interactive broker or Weeboo Weeboo Mumu

or Weeble and it would be ticker 600 745

Wing Tech as potentially a maker of the

Trump phone. Uh then on Iran, Donald

Trump says Iran wants to meet Donald

Trump has now proven that we have

obliterated those sites. He says that no

material was moved and that the trucks

we've seen in satellite imagery were

just pouring concrete and we obliterated

that concrete. The concrete didn't even

have a chance to dry, says Jerome Pow or

says Donald Trump. Uh and uh he says

that we will insist on some form of

inspections on uranium enrichment,

whether it's by the IAEA, uh the United

States or somebody else, but there will

be inspectors. Now, this is actually

really good because Iran is claiming

that they don't want to allow the IAEA

back in and that they want to continue

enriching uranium. The United States is

now being rumored to potentially offer

up to $30 billion to Iran and to support

Iran's peaceful nuclear energy uh you

know infrastructure program by either

paying them or helping them build it or

subsidizing them or allowing more uh

sanctions relief. Some people are

calling this Obama's JCPOA 2.0. I kind

of think we need a JCPOA 2.0 uh joint

comprehensive plan of action. It's I

guess it's JCPOA. There we go. Um

because it's of action. But anyway, uh I

kind of think we need some kind of

written deal because we do want to

verify that Iran is either

very in a very limited capacity

enriching uranium or no longer enriching

uranium, we need to have some form of

framework for inspecting that. Because

as Donald Trump warned, if Iran enriches

uranium again outside of some form of

agreement with the United States, he was

asked, would you consider bombing Iran

again? and he says, "Sure, absolutely."

So, this is the big concern if we don't

have a written framework. Is it possible

that we could see more attacks in Iran

at the same time as not having trade

deals or tariff deals? Of course. Lots

of things could go wrong. We knock on

wood and hope that they won't go wrong.

Uh Donald Trump says he's not worried

about secret sites. I think this is

because a lot of people, including

myself, have been talking about Pyramid

Mountain, which is just 2 minutes away

from Natans. uh and has really been

built up as a uh tool for potentially

being an untouched nuclear enrichment

facility for Iran. Donald Trump says

he's not worried that Iran was bombed to

hell and they're not even thinking about

their nuclear problems right now.

They're thinking about how they were

bombed to hell. He also says that the

Ayatollah thinks he won the war, but

says, "Hey Ayatollah, you're a man of

faith. You should tell the truth. You

got beat to hell."

Okay, so this gives us a little bit of a

summary of of what's going on with

Donald Trump and what he just said. Uh

just taking a look at what uh some of

y'all are saying in the comments here.

Uh somebody says, "All those first

generation citizens, look out." One

thing to think of too is there was a

question from Pam to Pam Bondi like,

"Hey, you know, are you going to start

enforcing immigration cases against

babies that are born here then?" and she

reiterates that no we just want to

enforce against uh you know criminals

but then again we also know that ICE has

been essentially rounding up a lot of

people who aren't criminals and and I

you know I I I understand the point of

view that this is very disruptive to

families and uh to people who aren't

criminals and they've been taught to go

through this sort of asylum process and

court process here and now all of a

sudden they're getting kicked out.

There's a lot uh okay so somebody says

everybody every president wants to lower

rates during their term. Of course, it's

an easy way to sort of brag about an

easy win, like I lowered car rates or

home rates or credit card rates, right?

Uh so totally reasonable.

So, bro, if he said it ain't going to

happen, the recession is bad for

midterms. Politics overrule recessions.

Look at Biden. Change the definition.

No, Biden didn't change the definition

because the technical definition of a

recession is two quarters of a GD of

negative GDP. Uh Biden just reiterated

that the National Bureau of Economic

Research determines whether we were

actually in a recession or not. Uh and

so yes, we were in a technical

recession, but they just reiterated that

the NBER makes the official declaration

of a recession because employment was

still so strong in 22. Uh which frankly

it was. We can't really dispute the

data. Now, part of that may have been

because of the stimulus that, you know,

and the money printing that the Biden

administration promoted and the

government hiring that they promoted,

but either way, hiring was strong and

unemployment was falling. It makes sense

that they didn't end up actually

declaring a recession. I get the jade of

it all, but we're now we're in a weaker

position where, you know, the jobs

market is slowing down. Vacancies are

very high. If you don't have a job, it's

very hard to get a job. Uh, and so the

economy is definitely in a slower growth

position right now, which is why I

reiterate that, you know, we should be

cutting rates. I understand why JPAL

doesn't want to suffer the mistakes of

the 70s, but uh I I do think he somewhat

gamles with a recession with that as a

risk by by delaying his rate cuts. So,

let's see here. What else?

Biggest criminal was Trevor Milton and

Trump gave him a pardon. This is true.

Trevor Milton donated a few million

dollars to Trump's campaign and got

pardoned by Donald Trump. It does show

that innocence is for sale. Uh that's

probably happened under other

presidential administrations as well.

But yeah, that was a pisser. It was

really lame to see a fraud like Trevor

Milton get pardoned for donating

millions of dollars to Donald Trump's

campaign. I totally agree with that. Uh

okay, what else we have here?

She didn't answer the question. I think

you're talking about Pam Bondi not

answering the question about are you not

going to basically deport children then?

Uh yeah, right. Uh she didn't answer the

question. So you're 100% right about

that. Uh which then is also kind of like

questionable because it's like all right

so are you or are you not going to

deport children? Right. So yeah, I mean

a good point, but then again we we still

don't have a ruling on birthright

citizenship. So we'll see. But that kind

of gives you a full recap. And if you

want that, make sure if you want that

alpha report, you still have coupon code

jpalow available at meetke.com. Right

now, meet me.com, you pay once. We

briefly brought the lifetime option

back. Uh because there were some people

who wanted the monthly option, so we had

that. We briefly brought a lifetime

option back. It gives you access to

everything. It's one thing. You don't

even have to make a choice. It's just

you want to pay pay in four or pay in

full. That's I guess the extent of your

choice right now. Uh because there's a

payment plan option for that as well.

But but once you pay that, you're in

forever. People have been course members

listening to sort of my perspective on

stocks or fundamental analysis or trades

or the lines like we said on Nike, you

know, trending towards 82 bucks. People

have paid me in 2018 never paid me a

dime again and they're still benefiting

from it because I ain't leaving. I'm

still here making videos, you know, uh

which I like doing. I enjoy doing this.

So, uh anyway, that's our recap here for

what Donnie just said. Why not advertise

these things that you told us here? I

feel like nobody else knows about this.

We'll we'll try a little advertising and

see how it goes. Congratulations, man.

You have done so much. People love you.

People look up to you. Kevin Pra there,

financial analyst and YouTuber. Meet

Kevin. Always great to get your take.