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The Media and the Military Mindset – CounterPunch

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Photograph Source: Beverly & Pack CC BY 2.0

U.S. national media have been lazy in their treatment of our military—pandering to the military itself and using retired general officers with ties to the military-industrial complex as spokesmen.  The United States is largely in an arms race with itself, but the media typically ignore bloated defense spending.  It is past time to reinforce Martin Luther King’s address to the Riverside Church in 1967 that linked chronic domestic poverty and military adventurism.

Since the dissolution of the Soviet Union in 1991, the Department of Defense has been playing an outsize role in the implementation of U.S. foreign policy and has too much clout in the production of intelligence analysis.  The administrations of Clinton, Bush, Obama, and Trump have given the Pentagon an unprecedented position of power and influence, including huge increases in defense spending and a dominant voice in the making of national security  policy.  The media, relying for the most part on retired general officers, have been insufficiently critical of this militarization.

The news on cable television relies on retired general officers to analyze and assess the military actions of the United States.  Nearly all of these retired generals and admirals have high-level positions at various arms manufacturers, but this is rarely noted.  General Jack Keane, one of Donald Trump’s favorite generals, is a frequent analyst on Fox News, but it is never mentioned that the retired general is executive chairman of AM General, a leading defense contractor, best known as the manufacturer of the Humvee and other tactical military vehicles.  Keane obviously has a direct financial interest in the use of force.

NBC News and MSNBC, the so-called liberal voice of cable television, rely on a former student of mine at the National War College, retired Admiral James Stavridis, who is described as the networks’ “chief international security analyst.”  The networks never mention that Stavridis, the former supreme allied commander at the North Atlantic Treaty Organization, currently works for the Carlyle Group, advising Carlyle on its multibillion-dollar portfolio of defense companies.

According to a recent article in the Washington Post, CBS’s in-house military expert is retired Admiral James Winnefeld Jr., a former vice chairman of the Joint Chiefs of Staff, but also a member of the board at Raytheon, a major defense manufacturer.  CNN relied on retired General James Marks in the early years of the Iraq War, without mentioning Marks’ role in obtaining military and intelligence contracts for McNeil Technologies.  Marks is back at CNN, but the network never mentions that now he is a venture partner and adviser to a company that invests in military companies.

The Washington Post is guilty of the same kind of enabling of the military.  In the wake of the killing of Qassim Soleimani, Stephen Hadley, President George W. Bush’s national security adviser, endorsed the actions of the Trump administration, arguing that the killing could open the door to diplomacy.  The Post needed to mention that Hadley is a director at Raytheon, which manufactures components of the drone that killed Major General Soleimani.  In other words, it should be noted that Hadley has a vested financial interest in the war.  As a letter writer to the Post noted, drone targeting systems aren’t cheap.

In the field of intelligence reporting, MSNBC relies almost entirely on the views of former CIA director John Brennan and deputy director John McLaughlin.  Brennan is a peculiar choice because he supported the policy of torture and abuse while serving on the executive staff of the Central Intelligence Agency as well as aiding in the cover-up of the CIA’s role in shooting down a missionary plane over Peru in a botched mission to stop drug trafficking.  Brennan was also responsible for the order to CIA lawyers and technicians to hack into the computers of the Senate intelligence committee to remove sensitive documentary evidence of the sordid acts of CIA officers.

McLaughlin is a bizarre choice as an intelligence analyst because he led the effort to craft the spurious speech that Secretary of State Colin Powell gave to the United Nations only six weeks before the U.S. invasion of Iraq.  The speech was designed to convince a domestic and international audience of the (non-existent) weapons of mass destruction in Iraqi inventories.  The speech was particularly successful in fooling the editorial and oped writers of the Washington Post, who claimed they were “convinced” that Iraqi WMD justified Bush’s war.

The U.S. reliance on military force has damaged U.S. national interests at a time when the global community is facing severe economic stress.  The Iraq and Afghan wars have cost trillions of dollars and have not made America more secure.  The war on terror has created more terrorists than it has eliminated, and recent secretaries of state have failed to question the strategic and geopolitical implications of a wider war in Southwest Asia.  The budget of the Department of Defense, exceeding levels reached during the worst days of the Cold War, receives overwhelming bipartisan support.

Even so-called liberal organizations are attracted to these policies.  The Brookings Institution and the Carnegie Endowment for International Peace, and their scholars—Michael O’Hanlon and Robert Kagan, respectively—have advocated the use of military force in Iraq and Afghanistan.  Meanwhile, the media largely ignore the loss of civilian life as they do the destruction of civilian economies, including hospitals, schools, and infrastructure.

Nearly sixty years after President Dwight D. Eisenhower’s warning about the military-industrial complex, the United States must come to terms with its elevation of the role of the military; its cult of military spending that has become sacrosanct; and the culture of militarism that has placed U.S. bases all over the globe.  The American public is in danger of knowing only those military policies and actions that the government wants it to know, and the media are insufficiently aggressive in uncovering the nature of U.S. militarism the world over.

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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