Jim DeRosa

NOW: President Trump greets Xi Jinping to kick off their two day summit. Here we go.

TMZ has actually doing some really good work dipping its toes into politics the last few weeks but this is a huge miss… Its big investigative scoop on Spencer Pratt is… he doesn’t literally sleep in the airstream every night? The man lost his house. His kids need school. He runs his campaign out of a hotel. Nobody thought he was raising a family in 200 square feet with no utilities. Nobody. x.com/TMZ/status/205…

The Wednesday Morning Briefing: May 13, 2026 1. Trump Lands in Beijing: Xi Summit Sets the Table for the Biggest Trade Reset in a Generation. Air Force One just touched down in Beijing Wednesday morning and President Trump walked into Bejing for the first time in almost ten years. He will face off with Chinese President Xi Jinping for a two-day summit, but he’s not alone. The President is bringing with him a delegation of executives with about a $12 trillion market cap. On the table: soybeans, commercial jets, critical minerals, and artificial intelligence. The big prize for Xi will be Taiwan. America can’t get enough semiconductors, every conversation in that bilateral meeting room carries enormous economic stakes. 2. BREAKING: Inflation Just Got Worse. A Lot Worse. The April Producer Price Index just came in at 6%, blowing past the expected 4.9% and landing as the hottest wholesale inflation reading in years. This is not a rounding error. Producer prices are what businesses pay before they pass costs on to consumers, which means the inflation Americans are already feeling is not done climbing. The pipeline is clear: hot PPI today becomes hot CPI tomorrow. Yield’s are barreling towards 4.5% and the Fed now walks into its next policy decision with two consecutive months of inflation data pointing in exactly the wrong direction. Rate cuts are off the table. Rate hikes are back in the conversation. 3. Smoke, Mirrors, and a $4 Billion Rope from Albany. New York City Mayor Zohran Mamdani stepped to the podium Tuesday and declared victory. “We will tax the rich,” he announced, unveiling a “balanced” $124.7 billion budget. Bernie Sanders was so excited he practically levitated. The problem, as always with progressive budget math, is what happens when you actually read the fine print. Here’s the real story: Mamdani closed his books with $2.3 billion in deferred pension payments and more billions in one-time state infusions. It’s a plan that kicks the city’s long-term obligations down the road from 2032 all the way to 2037. New York State taxpayers are bailing out the Big Apple… Let’s call a spade, a spade. 4. The Original “Tax the Rich” Country Just Became a Raging Capitalist Success Story. For decades, Sweden was the global left’s gold standard. High taxes, cradle-to-grave services, the whole nine yards. Well, Sweden privatized its economy and quietly blew up progressives' biggest talking point. Nearly half of Sweden’s primary healthcare clinics are now privately owned, many by private equity firms. One in three public high schools is privately run, up from 20% in 2011. School operators are listed on the stock exchange. The government has cut taxes three years in a row. Total public social spending has fallen to 24% of GDP, in line with the United States. Less government has turned Sweden into a lean, mean, growth machine.

NOW - Trump arrives in Beijing with Elon Musk and Jensen Huang in tow.

@RoaringKitty You might be on to something

I can’t prove it yet, but that line is 80% washed Pump.fun traders who somehow found a way to get rugged in person by a plastic AP pocket watch.

worst case scenario if we are being honest...

#BREAKINGNEWS Kevin Warsh has been confirmed by the Senate to be on the Federal Reserve Board of Governors by a 51-45 vote. The procedural vote will follow to be Chairman and then a full vote will happen later today or tomorrow.

@Ace403919 yeah I don't think I would be doing it. Hope it's worth it for them

@JimDeRosaJr Ridiculous but to each their own 🥴

Line has already formed for Saturday’s Royal Pop Swatch-AP collab.

The Tuesday Morning Briefing: May 12, 2026 1. Inflation Runs Hotter Than Expected. The Rate-Cut Dream May Be Over. The April CPI report just landed and headline inflation came in at 3.8% year-over-year, topping the already-elevated 3.7% forecast. The real story is in the core number, which strips out food and energy and is supposed to tell you what the underlying inflation trend looks like without the noise. Core CPI came in at 0.4% month-over-month against an expected 0.3%, and 2.8% year-over-year against a 2.7% forecast. When core inflation is running above expectations in an environment where energy is already screaming higher, it means the price pressures are no longer just a Middle East story. 2. Trump Lands in Beijing With 17 CEOs and the Weight of the World Order on His Shoulders. President Trump departed for Beijing Monday for a two-day summit with Chinese President Xi Jinping, and he did not travel light. The American business delegation joining him reads like a Fortune 50 roll call and when the president arrives with that kind of corporate firepower, deals are expected. Wall Street is watching for a potential rare earths for chips trade that could shake up the entire semiconductor sector. The stakes on Taiwan, where Beijing wants a subtle but seismic word change in U.S. policy, are even higher. 3. Jensen Huang Tells Grads to Run Toward AI. And Also to Learn How to Run Pipe. Nvidia CEO Jensen Huang delivered the commencement address at Carnegie Mellon University and it was one of the more interesting speeches a tech executive has given to a graduating class in years. The message for computer science and engineering graduates: run toward AI, do not walk. The AI buildout is creating a "once-in-a-generation opportunity to reindustrialize America." The message for trade workers was equally as direct: "this is your time." Every AI chip factory, data center, and advanced manufacturing facility being built across America requires skilled tradespeople to construct and maintain it. For a country that has spent decades telling every kid they need a four-year degree, that message lands differently. 4. San Francisco's 74% Approval Mayor Is the Blueprint Every Struggling City Is Ignoring. San Francisco Mayor Daniel Lurie is sitting at a 74% approval rating, according to a new San Francisco Chronicle poll, a number that would be impressive for any politician and is almost surreal for a San Francisco mayor. His predecessor London Breed was polling at 28%. The difference is not so much ideology, as it is results. The gains are happening on exactly the issues that defined San Francisco's decline: keeping neighborhoods clean, revitalizing downtown, visible decrease of homelessness, public safety. Every progressive city hall in America that has spent the last decade prioritizing the activist base over actual residents has the blueprint. Common sense prevails.

@joelvarger Times Square

@JimDeRosaJr Where is this

6/ But the main charge. The one that mattered most. The lie told to the American people about where this pandemic came from and who funded the research that may have started it. That one just expired quietly on a Sunday with no fanfare and no accountability. Quite the streak of luck.

5/ He is not completely out of the woods. Potential charges remain for lying about personal email use in 2024, with a statute running to 2029. State charges are not covered by federal pardons. Rand Paul is holding a whistleblower hearing this week.

Anthony Fauci just survived the five year deadline to be charged for lying to Congress about funding gain of function research in Wuhan. Let's walk through how that happened...