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Former President Donald Trump’s allies are painting his Thursday arraignment as an attempt by President Biden to crush his political rival ahead of the 2024 election and distract from bribery allegations against his own family.

Trump pleaded ‘not guilty’ to four federal counts stemming from alleged efforts to overturn his 2020 loss to Biden. It’s his second federal indictment and third criminal indictment in the span of less than five months. 

His Republican allies in Congress have continued to stick by him, however. GOP Conference Chair Elise Stefanik, the No. 3 leader in the House, echoed Trump’s repeated insistence that investigations into his conduct are ‘witch hunts.’

‘The unconstitutional and unprecedented arrest of President Donald J. Trump is truly a chilling chapter in Joe Biden’s weaponization of the Department of Justice against his leading political opponent who is beating Biden in many independent polls. President Trump had every right under the First Amendment to correctly raise concerns about election integrity in 2020,’ Stefanik, R-N.Y., said. 

‘The American people are smart, and they know this is a politically charged witch hunt orchestrated by Joe Biden’s corrupt DOJ in a desperate attempt to distract the American people from the mounting evidence of Joe Biden’s direct involvement in his family’s illegal influence peddling scheme,’ she added,

Rep. Mary Miller, R-Ill., cited a 2014 statement from Biden expressing concern about Malaysia’s encroachment on its own rule of law.

‘Today, Joe Biden’s DOJ did what Joe Biden used to condemn other countries for doing: arrest his political opposition to silence and intimidate them,’ Miller said. 

Another House Republican, Rep. Diane Harshbarger, R-Tenn., went a step further than condemnation and called for both a congressional investigation and Biden’s immediate impeachment. 

‘Today’s politically-motivated arraignment of President Trump marks a dark day for our nation. Joe Biden’s persecution of President Trump is a blatant power grab and an attempt to silence the voices of millions of Americans,’ Harshbarger said. ‘I call on Congress to launch a full investigation into the politicization of our government agencies, and for an immediate impeachment inquiry against Joe Biden, who is directly responsible for this despicable witch hunt.’

Both Rep. Marjorie Taylor Greene, R-Ga., and Sen. Marsha Blackburn, R-Tenn., also accused Biden of trying to tip the scales, despite the White House’s repeated insistence that the DOJ is independent.

‘Trump is being targeted because the left knows he’s Biden’s greatest political threat,’ Blackburn said.

Greene said, ‘Biden’s DOJ is actively participating in election interference by trying to put his top political opponent, President Donald Trump, behind bars. It’s pure corruption.’

Trump himself made similar comments after his arraignment and just before boarding his plane. ‘This is a very sad day for America,’ the former president said. ‘When you look at what’s happening, this is a persecution of a political opponent.’

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Donald Trump’s rivals for the 2024 Republican presidential nomination were split on how to read his indictment Thursday in a Washington, D.C., courtroom, one saying the former president’s actions invited his legal woes. Another said the legal system has been politicized.

Trump pleaded not guilty Thursday to four felony counts related to the Jan. 6, 2021 storming of the U.S. Capitol, including conspiracy to defraud the nation, brought by Justice Department Special Counsel Jack Smith.

While Trump has accused the Biden administration of orchestrating a witch hunt against him, GOP candidate Will Hurd told Fox News Digital just ahead of the arraignment, ‘This is not about the weaponization of the government.’

‘This is not about individuals in Washington, D.C., that serve on a grand jury,’ said Hurd, a former CIA spy and member of the House Texas delegation. ‘This is about a former president who lost an election and tried to use everything within his power to overturn that election, failed, and now he’s trying to stay out of prison.

‘This could have been preventable. It didn’t have to happen,’ added Hurd, a long shot for the 2024 GOP presidential nomination and a vocal Republican critic of Trump.

Hurd, who drew plenty of boos from a crowd last weekend at the Iowa GOP’s annual Lincoln Dinner when he criticized Trump, spoke with Fox Digital Thursday during a stop at the New Hampshire Institute of Politics in Manchester.

‘If he had been like every other president and accepted the election, he wouldn’t be in this position,’ Hurd argued. ‘Also, when he learned he had classified documents, all he had to do was turn them back. Instead, he lied about them and then tried to destroy evidence that he knew about them. If he wouldn’t have done those things, we wouldn’t be in this position today.’

Former Arkansas Gov. Asa Hutchinson, who like Hurd is a vocal Trump critic, said in a social media posting that ‘Today’s arraignment of #DonaldTrump is a sad day for the Party of Lincoln & Reagan. He hoodwinked his supporters on #January6th & he is trying to do it again. The GOP needs a course correction.’

On the opposite end of the spectrum was multimillionaire biotech entrepreneur, best-selling author and culture wars crusader Vivek Ramaswamy, who charged that Trump’s indictment was the ‘politicized persecution of political opponents.’

Ramaswamy arrived in New Hampshire hours after shooting a video in front of the federal courthouse in the nation’s capital where Trump was arraigned later in the day.

‘I wanted to make a point to say we the public deserve to know what did [Attorney General] Merrick Garland tell Jack Smith? What did [President] Joe Biden tell Merrick Garland? Just tell us. Be transparent with the public,’ Ramswamy told Fox News Digital. ‘And I think, right now, we live in a time when we feel like the government suppresses the truth.’

Ramaswamy, who was interviewed by Fox Digital following a mini-town hall at a restaurant in Milford, New Hampshire, claimed ‘the first three indictments – they reeked of politicization. And I think that that’s just a reality. I think that sets a terrible precedent. I think there’s a difference between a bad judgment and a crime. Criminalizing every bad judgment is a dangerous slippery slope to go down in this country.

‘I think what we need is a government that trusts its people, and that’s when the people will start trusting the government again. And that’s what this campaign is all about – speaking truth. It’s how we restore trust in this country. It’s what I’m doing.’

Former South Carolina Gov. Nikki Haley, who served as ambassador to the United Nations during the Trump administration, said during an interview on a morning talk radio program in New Hampshire that ‘like most Americans, I’m tired of commenting on every Trump drama. I’ve lost track of whether this indictment is the third or fourth or the fifth.’

But Haley, who launched her 2024 presidential campaign in February, reiterated in her ‘Good Morning NH,’ appearance that she’s ‘said that Jan. 6 was a terrible day. I’ve also said that Donald Trump bears some responsibility for what happened. But Trump didn’t attack the Capitol. It’s not a crime to say that you think an election was stolen. He should not be prosecuted for that. I think the Justice Department has become way too political.’

Michigan businessman and quality control expert Perry Johnson, who like Hurd is a long-shot for the GOP nomination, claimed in a statement to Fox News that ‘the witch hunt perpetrated against Trump is unlike anything I have ever witnessed, which is why I have never shied away from defending Trump from this political persecution despite being his competitor in this race.’ 

Republican White House contender and North Dakota Gov. Doug Burgum, in an interview on Fox News’ ‘Special Report,’ told host Bret Baier that ‘the Biden administration loves it when we’re talking about indictments because then they don’t have to talk about their horrible track record on national security.’

The former president – who pleaded not guilty – was indicted on four counts: conspiracy to defraud the United States, conspiracy to obstruct an official proceeding, obstruction of official proceeding, and conspiracy against rights. 

Trump was informed two weeks ago that he was a target in the probe into his actions and state of mind on Jan. 6, 2021, and in the lead-up to that infamous day – when hundreds stormed the U.S. Capitol. The attack temporarily disrupted congressional certification of President Biden’s Electoral College victory over Trump.

The indictment alleges that Trump pursued unlawful means of discounting legitimate votes and subverting the 2020 presidential election results through three criminal conspiracies and that he corruptly obstructed and impeded the certification of the electoral vote.

Trump, the commanding front-runner in the GOP nomination race as he makes his third straight White House run, this year became the first sitting or former president in U.S. history to be charged with a crime.

Trump pleaded not guilty in early April in New York City to charges brought by the Manhattan District Attorney’s Office. The former president was indicted for allegedly giving hush money payments to adult film actress Stormy Daniels in 2016 to keep her quiet ahead of that year’s presidential election over her claims she had sexual encounters years earlier with Trump.

The former president denies sleeping with Daniels and denies falsifying business records to keep the payment concealed.

Trump was indicted and arraigned in early June for his alleged improper retention of classified records. He pleaded not guilty in federal court in Miami to criminal charges that he illegally retained national security records at his Mar-a-Lago estate in Palm Beach, Florida, following the end of his term as president and that he obstructed federal efforts to recover the documents.

But the indictments have only strengthened Trump’s standing among his base of devoted supporters. And his lead over his GOP rivals has increased in the wake of the indictments.

Trump, speaking as he departed the nation’s capital following his arraignment, targeted the president, charging that ‘this is the persecution of the person that’s leading by very, very substantial numbers in the Republican primary and leading Biden by a lot. So, if you can’t beat him, you persecute him, or you prosecute him. We can’t let this happen in America.’

This is a developing story. Check back for updates on FoxNews.com.

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Pennsylvania’s overdue state budget moved closer to completion Thursday after Senate Republican leaders summoned their colleagues back to the Capitol to complete work they had held up when budget negotiations with Democratic Gov. Josh Shapiro soured a month ago, but about a billion dollars in spending is still in limbo.

A final signature in the Senate sent the main spending plan to the governor’s desk on Thursday afternoon, allowing millions of dollars to begin flowing to counties and school districts that were preparing to empty out their reserves or consider taking out loans to continue necessary operations. The governor signed but vetoed an education voucher program.

There is still more work to be done to move out the last portion of the entire $45 billion budget, however. The Legislature must write language directing at least $1.1 billion to fund initiatives such as student teaching stipend, student mental health grants, funds to boost some of the state’s poorest school districts and home repair subsidies, according to Senate Republicans. Also in need of legislative action are hundreds of millions of dollars earmarked for state-owned universities.

Majority Leader Sen. Joe Pittman, R-Indiana, said during floor remarks that the outstanding, undirected funds show that ‘the Legislature holds the power of the purse whenever it comes to determining how taxpayer dollars are spent.’

‘This is not a final completed product. This is not a final and complete process,’ he said.

The budget hit a roadblock in early July amid discord over a GOP priority — their proposal to create a $100 million program subsidizing students in the lowest performing districts so they can attend private and religious schools.

Shapiro initially supported the proposal, to the consternation of most Democrats and teachers’ unions. In an attempt avoid an impasse, Shapiro announced that he would veto it. As the Senate convened to send the bill on to him, Pittman implored that Shapiro keep it, but shortly after the budget reached him on Thursday, the governor vetoed that provision.

‘Improving and expanding opportunities for children remains a priority for me, and I consider this to be unfinished business all parties must work together on as we move forward,’ Shapiro wrote in a veto message.

A spokeswoman for House Democratic leadership said all parties continue to meet, and the chamber will return to session to complete the outstanding pieces needed ‘as negotiations are finalized.’

Pennsylvania is one of four states that did not complete a budget by the start of the fiscal year, according to data compiled by the National Conference of State Legislatures. Pennsylvania is the only one that does not allow spending to continue automatically.

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North Dakota lawmakers and education officials are examining potential responses to Minnesota’s North Star Promise program.North Star Promise subsidized income-based free college tuition.Roughly 1,400 Minnesotans enrolled at eastern North Dakota schools are eligible for their home state’s program.

North Dakota lawmakers and higher education leaders are beginning to chart a path for how to respond to neighboring Minnesota’s upcoming program that will offer income-based free tuition to thousands of students.

Higher education leaders on Wednesday detailed the situation to an interim legislative panel. A state senator also presented a bill draft proposing a North Dakota program similar to Minnesota’s North Star Promise.

North Star Promise takes effect in fall 2024. It will cover undergraduate tuition and fees at the state’s public post-secondary schools for Minnesota residents whose family income is under $80,000, after they have used other sources of financial aid.

North Dakota higher education leaders are worried about losing Minnesota students. About 1,400 of them at five eastern North Dakota schools could be eligible for North Star Promise. Minnesotans make up nearly half the student body at North Dakota State University in Fargo, the No. 1 out-of-state choice for first-year Minnesota students.

Legislative staff and higher education officials will work on potential options in response to North Star Promise, said Republican state Rep. Mark Sanford, who chairs the Legislature’s interim Higher Education Committee.

Tuition cost is ‘certainly not the only element’ Minnesota students consider in where to go to college, he said. Quality and availability of programs ‘are important parts of this, too,’ Sanford said Thursday.

Admissions offices already are recruiting 2024 and 2025 high school graduates.

Marketing ‘the overall quality’ of North Dakota programs to Minnesotans will be key, said North Dakota University System Chancellor Mark Hagerott. He said he’s confident current Minnesota students will stick with North Dakota.

‘The concern is really the new students making decisions, and they and their parents may be confused by what might be a headline and not understanding the total value package, so that’s why we need to be sure we get that information out,’ Hagerott said.

Lawmakers and state officials see higher education as a key component to addressing North Dakota’s labor shortage by keeping graduates to fill open jobs.

An estimated 15,000 to 20,000 Minnesota students annually will use North Star Promise. In one scenario, education officials in North Dakota projected an $8.4 million loss in combined tuition and fees just in the first year.

Democratic state Sen. Tim Mathern has pitched a $17 million ‘Dakota Promise’ forgivable student loan program for high school graduates of North Dakota and neighboring states, but ‘targeted to North Dakota residents,’ he said.

His proposal, which is in early draft form, would cover undergraduate tuition and fees at North Dakota’s 11 public colleges and universities as well as the five tribal colleges. The proposal has the same income limit as North Star Promise.

Loan recipients would have to live and work in North Dakota for three years after graduation for their loans to be completely forgiven.

‘It’s a new way for more North Dakotans to afford to go to college, so if five Minnesotans leave, this gives five more North Dakotans the idea to go to college,’ Mathern said.

His proposal also includes an income tax credit for employers who pay for an employee’s tuition.

North Dakota’s Legislature meets every two years and will convene next in January 2025.

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In this edition of the GoNoGo Charts show, Alex walks viewers through the markets from a trend perspective, using the lens of the GoNoGo charts. He then shows a few charts of crypto markets.

This video originally premiered on August 3, 2023. Click this link to watch on YouTube.

Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.

In this episode of StockCharts TV‘s The Final Bar, guest Jeff Huge, CMT of JWH Investment Partners shares his Elliott Wave chart of the S&P 500, including a downside projection well below the October 2022 low. Host David Keller, CMT reveals another market breadth indicator registering a key bearish signal and discusses the implications for higher interest rates.

This video was originally broadcast on August 3, 2023. Click on the above image to watch on our dedicated Final Bar page on StockCharts TV, or click this link to watch on YouTube.

New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link.

In this week’s edition of Trading Simplified, Dave shows his methodology in action with a trade that’s “dead money?” He shows new mystery charts, updates some old ones, and emphasizes why money and position management is so crucial. He then continues his series on the wisdom of Jesse Livermore, discussing scaling in (or not!), following your system, and hoping when you should fear and fearing when you should hope.

This video was originally published on August 3, 2023. Click anywhere on the Trading Simplified logo above to watch on our dedicated show page, or at this link to watch on YouTube.

You can view all recorded episodes of the show at this link. Go to davelandry.com/stockcharts to access the slides for this episode and more. Dave can be contacted at davelandry.com/contact for any comments and questions.

On this week’s edition of Stock Talk with Joe Rabil, Joe explains why the MACD pinch play is so valuable. This pattern gives us plenty of important information about the stock and can be a great tool to identify stocks that are about to provide trading opportunities. Joe gives several examples of how it plays out in multiple timeframes. Joe then analyses the symbols requests that came through this week, including GS, V, and more.

This video was originally published on August 3, 2023. Click this link to watch on YouTube.

Archived episodes of the show are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show. (Please do not leave Symbol Requests on this page.)

There is no way around the fact that as bonds fall, yields rise. Some say this is a non-event, while Pete says, “let the trends tell you what type of event this is.” Mega-caps have pulled back, but two massive names are due to report tonight, Apple and Amazon. In this week’s edition of StockCharts TV‘s Halftime, Pete looks at the charts for future clues before earnings. Oil moved up and out of Pete’s White House Buy Range, and the US Dollar is at a resistance level built over a year ago. any move higher means rates are up, and bond prices are down. That could mean a drag on overseas revenue for the multi-nationals. Pete reviews the Dow Theory using Dow Transports vs. the Dow Jones.

This video originally premiered on July 17, 2023. Click on the above image to watch on our dedicated Halftime by Chaikin Analytics page on StockCharts TV, or click this link to watch on YouTube.

You can view all previously recorded episodes of Halftime by Chaikin Analytics with Pete Carmasino at this link.

Lawmakers were torn on whether actors and writers should be concerned about artificial intelligence taking their jobs, with one Republican lawmaker saying the ‘spoiled’ Hollywood professionals should get back to work at their ‘overpaid’ jobs.

‘Hollywood is a bunch of spoiled brat degenerates, and they ought to get back to work,’ Tennessee Rep. Tim Burchett, a Republican, said. ‘They are overpaid and under worked. The rest of this country gets by on a lot less.’ 

SHOULD HOLLYWOOD BE CONCERNED ABOUT AI ADVANCEMENTS? LAWMAKERS WEIGH IN:

But Connecticut Rep. Jim Himes, a Democrat, said Hollywood’s actors and writers should be worried about AI development. 

‘If I was an actor and somebody could create a digital representation of me and my voice and put me in a movie and I don’t get any say about that and I don’t get any compensation from that, I’d be concerned,’ the Connecticut Democrat said. 

Hollywood actors and screenwriters’ ongoing protest against studios, streaming services and production companies represented by the Alliance of Motion Picture and Television Producers (AMPTP) marks the first time in over 60 years the two unions have been on strike at the same time. The strikes have focused on renewing contracts with increased pay rates and guaranteed protections from artificial intelligence developments taking away their jobs. 

‘AI cannot replace people,’ Rep. Jamaal Bowman said. ‘In some industries it will, but when we talk about the creative arts, there’s going to be a disconnect between the soul and the essence of what humans create and what AI creates.’ 

‘They’re the ones who build the wealth in Hollywood,’ the New York Democrat said. ‘Pay them what they’ve earned.’ 

AI has been a central focus in the strikes, since recent developments have made the technology able to easily write scripts and replicate an actors’ image and likeness without their consent. As it continues to advance, AI could reduce or eliminate 300 million jobs globally, according to a March report from Goldman Sachs. 

‘The writer’s strike shows the critical importance of protecting artists, writers and other creators against [AI], in effect, taking their product without just compensation, which AI enables more and more others to do,’ Connecticut Sen. Richard Blumenthal, a Democrat, said.

But South Carolina Rep. Nancy Mace, a Republican, said the film industry should be brainstorming how to use AI to its advantage. 

‘It’s going to be the future,’ she said. ‘I also understand people don’t want to lose their jobs, so they should look at the technology and utilizing it to make all their work better.’

Up to 30% of hours worked across the U.S. economy could become automated by 2030, creating the possibility of around 12 million occupational transitions in the coming years, according to a McKinsey Global Institute study published in July. Lower-wage workers are up to 14 times more likely to need to change occupations than those in the highest-wage positions, and women are 1.5 times more likely to lose their jobs than men with continued AI development.

AI is ‘a serious threat to a lot of workforce industry,’ California Rep. Robert Garcia, a Democrat, told Fox News. ‘That’s what we’re trying to figure out, is ways that we can regulate AI in a way that is fair, that doesn’t stifle innovation, but certainly is not taking away really important jobs.’

To watch lawmakers’ full interviews, click here. 

Fox News’ Yael Halon contributed to this report.

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