De Blasio May Press Hillary
Tension between Hillary Clinton and Mayor Bill de Blasio. WSJ: "In coming months Mr. de Blasio is expected to host a presidential forum on income inequality, to which he plans to invite both Democrats and Republicans ... Such an event is likely to highlight that Mrs. Clinton, who has faced skepticism about her progressive credentials, has yet to count as an ally the leading liberal voice in her home state."
But Clinton wins Tom Harkin endorsement, in letter to Des Moines Register: "She and I share many of the same deeply-held beliefs. We believe everyone should be able to find well-paying jobs, that every child should receive the best education possible, that the elderly should be able to retire with dignity and security, and that everyone should have access to quality and affordable healthcare."
Campaigns react to Clinton college plan. NYT: "In the days after Mrs. Clinton’s announcement, both Republicans and Democrats in the race highlighted their own plans ... Sanders ... reiterated his call for tuition-free public college. Mr. Rubio said he would overhaul the accreditation process and push options of alternative and vocational schools to better reflect the fluid 21st-century job market. Gov. John R. Kasich of Ohio said he planned to replicate programs in his state that have held down the price of tuition."
China Taps Brake
China now strengthens currency. Bloomberg: "The yuan halted a three-day slide after China’s central bank raised its reference rate for the first time since Tuesday’s devaluation and said it will intervene to prevent excessive swings ... Where the yuan goes from here will have an impact not only on growth prospects for Asia’s largest economy, but also the Federal Reserve’s interest-rate policy..."
China's leaders don't know what they're doing, suggests NYT's Paul Krugman: "There’s ... a case for occasional intervention to prop up asset prices ... when markets seemed to have lost their bearings ... That’s very different from the kind of sustained intervention and political dictation of prices China seems to imagine it can pull off. Do the country’s leaders really not understand why that won’t work?"
AFL-CIO wants currency provision in TPP. The Hill: "The labor union’s president, Richard Trumka, said the drop in the value of the yuan ... 'provides further confirmation that the failure to include enforceable currency disciplines in the TPP [Trans-Pacific Partnership] leaves a gaping hole in U.S. trade policy.'"
Breakfast Sides
Jeb Bush literally says "mission was accomplished" in Iraq. Bloomberg: "The 'mission was accomplished' when it came to Iraq's security at the end of his brother's time in the White House, Bush said. 'That is a fact,' he said. 'You can't rewrite history in that regard.' He also pointed to the decisions he regards as a success. 'Taking out Saddam Hussein turned out to be a pretty good deal,' Bush said..."
Greek PM Tsipras may face confidence vote. NYT: "While the [bailout] measure received the support of some members of the opposition, it had the backing of only 118 lawmakers in the government coalition — fewer than the 120 lawmakers that Mr. Tsipras needs to survive politically. After the vote, an official close to Mr. Tsipras said the prime minister would call for a vote of confidence in his government after Aug. 20..."
Robert Reich praises SEC rule on CEO pay: "The new SEC rule requiring disclosure of pay ratios could help strengthen the hand of American shareholders. The rule might generate other reforms as well – such as pegging corporate tax rates to those ratios ... The SEC’s disclosure rule isn’t perfect. Some corporations could try to game it ... But the rule marks an important start."
