Day: October 2, 2023

A crazy judge and a socialist state Attorney General are trying to take Donald Trump’s businesses away from him. Even by New York standards, this is an out-of-sight, interplanetary assault on: A) private property, B) the U.S. Constitution, and C) Donald Trump.

The latter is leading the Republican primary field by more or less 50 percentage points, and is running ahead of Joe Biden for the presidency by 5-10 points. So, the socialists, who are absolutely petrified by a Trump victory, are now working to put him in jail for 750 years and take all his assets away, all of his business. 

Am I oversimplifying? Frankly, I don’t think so. The state AG Letitia James ran against Trump in her election, even though he was not on the ballot and so did New York prosecutor Alvin Bragg. So, they were working on legal attacks even before they took office. No evidence needed, of course.

Now, they’ve foisted these injustices against the former president in real time, probably trying to tie him up in court so he won’t go out on the campaign trail and extend his lead over Joe Biden to 15 points. Here’s the former president earlier today in downtown New York City at the courthouse. Take a listen:

DONALD TRUMP: “This is continuation of the single greatest witch hunt. Most people get it – the voters are getting it because every time they give me a fake indictment, I go up in the polls and that’s never happened before. This is a disgrace.”

TRUMP FIRES BACK AFTER GOP OPPONENTS TAKE TURNS BASHING HIM IN REPUBLICAN DEBATE 

I think he is on to something. Radical Democrats don’t give a hoot about laws or the U.S. Constitution, but, if anybody took a look at such things, they would note that taking over Mr. Trump’s businesses violates the 14th Amendment, which ordains no state shall “deprive any person of life, liberty or property without due process of law.” 

Now comes this whole business of valuing Trump properties, with a particular emphasis on Mar-a-Lago. The New York judge is using a ridiculous $18 million valuation from the Palm Beach County Assessor’s office, but the Trumps are using estimates of $426-$612 million.

Well, even a chief property tax appraiser for Palm Beach County said that clubs like Mar-a-Lago are assessed based on membership numbers, dues, and the cost to run the facility. These valuations are “for tax purposes only, and not for financing or… for a lending institution.”

Hat tip to Caroline McCaughey of the New York Sun for that up. So, therefore, it’s ultra-dumb for the New York judge to use an assessment to measure lending value or financing value on a phony number, but I’ll bet the judge knows exactly what he’s doing and it’s hard to believe this will hold up in court, even in New York.

You’ve got residential property sales in Palm Beach that far exceed $18 million. Rush Limbaugh’s widow sold their Palm Beach estate for $155 million. Real estate brokers in South Florida suggest Mar-a-Lago’s value is between $500 million and $1 billion.

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Anyway, if this is a crime, who is the victim? There is no victim! It’s a valuation dispute, but it should be a serious valuation dispute, not a ridiculous one. On top of that, the bank lenders have all been paid, most particularly Deutsche Bank and they’re not complaining.

So, how can anyone conclude anything else but that this is just a bunch of left-wing Democrats manipulating the judicial system once again for their own political gains? Which, of course, is what all these Trump indictments are actually about. Who knows? After today’s court appearance, Mr. Trump’s ratings may go up another 10 points. That’s my riff.

This article is adapted from Larry Kudlow’s opening commentary on the October 2, 2023, edition of “Kudlow.” 

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Jamie Dimon recently discussed artificial intelligence (AI), weighing in on how it could affect jobs and how it could get utilized at the bank.

The longtime JPMorgan Chase CEO did so in a Monday interview with Bloomberg, saying AI could “of course, yeah” cause some replacement of jobs. At the same time, he also indicated it would provide some major benefits for people.

“People have to take a deep breath, OK? Technology’s always replaced jobs,” he said. “Your children will live to 100 and not have cancer because of technology, and literally they’ll probably be working three and a half days a week.”

He acknowledged AI has “negatives,” identifying the “biggest” as bad actors deploying for “bad” purposes, according to the Bloomberg interview. Possible areas where he said that could happen include cyber and warfare.

JPMORGAN’S JAMIE DIMON SAYS INTEREST RATES ‘MAY GO UP MORE,’ SAYS HE HOPES FOR SOFT LANDING

AI will “eventually have legal guard rails around it,” he said, adding that the technology would bring significant value. Numerous prominent figures in the AI sector came to the nation’s capital last month to meet with lawmakers for a forum centered about the technology, FOX Business previously reported.

“For JPMorgan, if it [AI] replaces jobs, we hope to redeploy people,” Dimon told Bloomberg.

The CEO also noted in the interview that the bank already has “thousands of people doing” things with AI, calling AI a “living, breathing thing” that will change.

JPMORGAN CHASE NAMES NEW HEAD OF AI UNIT

There could be some form of potential AI applications for all processes at JPMorgan Chase, according to Dimon. He said tasks like research, note-taking, trading and customer service could utilize the technology.

“AI is doing all the equity hedging for us for the most part,” he noted at one point.

Dimon reported in the company’s 2022 shareholder letter, which was put out earlier this year, that JPMorgan Chase had a couple of thousand people involved in AI-related efforts. Those included workers in data management, data science, machine learning, engineering and AI research.

During the summer, the World Economic Forum found that half of companies perceived AI as “creat[ing] job growth” in the future and 25% thought it would do the opposite.

WORKERS, LEADERS WANT TO LEARN ABOUT AI BUT MAY EXAGGERATE THEIR KNOWLEDGE, STUDY FINDS

A separate, more recent Canva study found that the share of professionals with concerns about falling behind in their jobs if they didn’t have knowledge of how to leverage AI came in at 41%. Many – 85% – expressed an interest in learning AI skills, FOX Business previously reported.

Eric Revell contributed to this report.

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