Obama warns Trump administration has 'weak commitment' to democracy
Obama warns Trump administration has 'weak commitment' to democracy
Show Caption
Hide Caption
'No Kings' protests vastly outdraw Trump's military parade
A stark contrast emerged in attendance between the Trump administration's Army birthday parade in Washington, DC, and the sweeping 'No Kings' protests held nationwide.
unbranded - Newsworthy
Former President Barack Obama warned about a "weak commitment" to democracy by President Donald Trump's administration and the U.S. "drifting" into autocracy during a speech in Connecticut, according to media reports.
Obama spoke with Boston College professor and popular newsletter writer Heather Cox Richardson at the The Bushnell Performing Arts Center in Hartford June 17.
'If you follow regularly what is said by those who are in charge of the federal government right now, there is a weak commitment to what we understood – and not just my generation, at least since World War II – our understanding of how a liberal democracy is supposed to work,' Obama said.
Obama didn't mention Trump. But he worried about the nation "drifting into something that is not consistent with American democracy. It is consistent with autocracies.'
"We're not there yet completely, but I think that we are dangerously close to normalizing behavior like that,' Obama said, according to reports.
Trump's expansive use of executive power sparked more than 2,100 "No Kings" protests around the country June 14 that drew more than five million people, according to organizers.
'I don't feel like a king. I have to go through hell to get stuff approved,' Trump said when asked about the protests.
Obama's speech was a rare public appearance for the former president. He has kept a relatively low profile since Trump took office for a second time and embarked on a tumultuous agenda.
Amid stark political divisions, evidenced by violent protests in Los Angeles over Trump's deportation efforts and the assassination of a Minnesota Democratic lawmaker and her husband, Obama said he remains "optimistic."
"I'm still the 'hope' guy,' he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
18 minutes ago
- Newsweek
Anti-Trump Protests Update: 'National Day of Action' Planned for July 17
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Another round of national anti-Trump demonstrations is being planned across the U.S. for July 17 under the banner of Good Trouble Lives On, a reference to the late civil rights icon, Congressman John Lewis. Newsweek contacted Good Trouble Lives On for comment via email on Friday outside of regular office hours. Why It Matters On June 14,anti-Trump "No Kings" protests took place in cities across the United States on Trump's 79th birthday, which also saw the president attend a military parade in Washington D.C. to celebrate the 250th anniversary of the U.S. Army. The protests took place in hundreds of U.S. cities, with large-scale gatherings reported in major hubs such as Philadelphia; Los Angeles; Austin, Texas; Portland, Oregon; and New York. According to analysis by pollster G. Elliott Morris, they were attended by an estimated 4 to 6 million people. What To Know Good Trouble Lives On demonstrations are being planned for dozens of American cities on July 17 including the likes of New York, Washington D.C, Chicago, Los Angeles and San Francisco with attendees invited to "March in Peace, Act in Power." The name is a reference to Lewis, a Georgia Democrat and an advocate of peaceful protests, who famously called for "good trouble" during the civil rights era. Anti-Trump "No Kings" demonstrators pictured in Los Angeles on June 14. Anti-Trump "No Kings" demonstrators pictured in Los Angeles on June 14. Jay L Clendenin/GETTY According to its downloadable "Host Toolkit" for organizers, the protests have three main goals. These are demanding an end to "the extreme crackdown on civil rights by the Trump administration," "the attacks on Black and brown Americans, immigrants, trans people, and other communities," and "the slashing of programs that working people rely on, including Medicaid, SNAP, and Social Security." Good Trouble Lives On is being supported by a range of other groups including the 50501 Movement, which also helped organize the "No Kings" demonstrations. The 50501 Movement, short for "50 protests, 50 states, 1 movement" was formed in January 2025 to protest Trump and has been involved in organizing a series of national demonstrations beginning on February 5. A series of "No Kings on Presidents Day" rallies took place on February 17 followed by "Hands Off" demonstrations in April and May criticizing federal layoffs and immigration crackdowns. What People Are Saying Speaking to Newsweek, Lorella Praeli, co-president of Community Change Action, which has backed anti-Trump demonstrations, said: "Look around—Trump and his allies are deploying the tools of authoritarianism: silencing dissent, targeting immigrants, punishing oversight, and even staging military displays for personal glorification. These aren't isolated incidents; they're part of a broader effort to delegitimize democratic norms." On its website, Good Trouble Lives On, which "is a national day of action to respond to the attacks on our civil and human rights by the Trump administration," wrote: "We are facing the most brazen rollback of civil rights in generations. Whether you're outraged by attacks on voting rights, the gutting of essential services, disappearance of our neighbors, or the assault on free speech and our right to protest—this movement is for you. "Trump is trying to divide us but we know the power of coming together." What Happens Next It remains to be seen how many people will turn out for the "Good Trouble Lives On" demonstrations and what the organizers plan next.
Newsweek
22 minutes ago
- Newsweek
Russia 'On the Brink Of' Recession Says Economy Minister
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Russia's economy, buoyed for months by wartime spending, may now be teetering toward recession, Minister of Economic Development of the Russian Federation Maxim Reshetnikov said on Thursday, according to Russian media reports. Speaking at the annual St. Petersburg International Economic Forum, Reshetnikov said: "The numbers indicate cooling, but all our numbers are [like] a rearview mirror." "Judging by the way businesses currently feel and the indicators, we are already, it seems to me, on the brink of going into a recession, he added, according to business news outlet RBC. Minister of Economic Development of the Russian Federation Maxim Reshetnikov attends a plenary session of the St. Petersburg International Economic Forum in St. Petersburg, Russia, on June 19, 2025. Minister of Economic Development of the Russian Federation Maxim Reshetnikov attends a plenary session of the St. Petersburg International Economic Forum in St. Petersburg, Russia, on June 19, 2025. Roscongress Foundation via AP Why It Matters The warning marks a significant shift as Russia faces the consequences of prolonged war-related spending, global sanctions and continued international isolation. For American policymakers and businesses, economic instability in Russia carries potential implications for global markets, energy prices, and ongoing geopolitical tensions, especially as sanctions and Russia's military operations in Ukraine continue to reshape the international economic landscape. What To Know Since sanctions were imposed following the invasion of Ukraine in February 2022, Russia's economy had outperformed early predictions. High levels of defense spending supported growth and kept unemployment rates low even as inflation worsened. Wages rose with inflation, benefiting many workers in the short term. Large signing bonuses for military recruits and death benefits for soldiers killed in Ukraine put additional money into poorer regions of Russia. However, economists have warned that the prolonged focus on military sectors, inflation, and a lack of foreign investment are increasing long-term risks and stagnation in other economic sectors. At Thursday's event in Russia's second-largest city, intended to showcase the country's economic achievements and court foreign investors, Reshetnikov addressed Central Bank Governor Elvira Nabiullina, saying he wanted to give "the economy some love," according to Reuters. Nabiullina downplayed fears, claiming Russia's economy was "coming out of overheating," according to RBC. Finance Minister Anton Siluanov also offered a more optimistic view, stating the economy was "cooling" but adding, "after any cooling, the summer always comes." What People Are Saying Russian Economy Minister Maxim Reshetnikov said, according to Reuters: "I didn't predict a recession. I said we're on the brink. From here on out, everything will depend on our decisions." Russia's Center for Macroeconomic Analysis and Short-Term Forecasting said in a statement this week: "It seems that an 'an economy of stagnation' has formed." What Happens Next The trajectory of Russia's economy will depend on forthcoming government and central bank actions as officials weigh responses to the cooling economic environment. Further policy announcements or economic data are expected to clarify whether Russia can avoid a formal recession designation in the coming months. This article includes reporting by The Associated Press
WIRED
29 minutes ago
- WIRED
A False Start on the Road to an All-American Bitcoin
Jun 20, 2025 5:30 AM Donald Trump pledged to cement the US as the bitcoin mining capital of the planet. The president's sweeping tariffs stand to simultaneously undermine and advance that ambition in one swoop. PHOTO-ILLUSTRATION: WIRED STAFF; GETTY IMAGES US president Donald Trump waited a beat to soak up the applause. In front of a baying crowd of bitcoiners at crypto conference Bitcoin 2024 in July, he had just laid out his plan to turn the US into the world's undisputed bitcoin mining superpower. 'I want it to be mined, minted, and made in the USA,' he told the audience. 'You're going to be very happy with me—you're going to be so happy.' Since returning to the White House, Trump has largely followed through on his crypto-related pledges: He has moved to establish a national bitcoin reserve, replaced the leader of the regulatory agency that pursued crypto firms most hotly under the prior administration, and appointed a crypto czar to help set clear rules for the industry. But with respect to bitcoin mining, the US president has so far given with one hand and taken with the other. When Trump announced punitive new tariffs on 57 countries on April 2, US-based mining companies dependent on two dominant Chinese suppliers—including American Bitcoin, the Trump family's new mining outfit—faced the prospect of spiraling hardware costs. The tariffs included a levy on shipments from China later revised to 55 percent, and tariffs between 24 and 36 percent on Indonesia, Thailand, and Malaysia, in which Chinese firms manufacture some of their machines. But meanwhile, the tariffs promised a leg-up to smaller US manufacturers, whose American-made machines are not subject to the steep new import levies. The ability for US-based hardware makers to seize upon any tariff-related advantage will depend, though, on whether their prospective customers, the US mining firms, can withstand a period of acute economic instability that those same tariffs stand to aggravate. To guarantee supply, mining companies often enter into long-term agreements with hardware makers, so they face the prospect of paying the new import duty on unfulfilled orders with the Chinese suppliers. Already, US mining companies are pivoting to AI and other data center operations in search of more reliable profits. The aspiration for an all-American bitcoin—mined on US soil by a US company, using hardware made in the US—could fall apart at the outset. 'If things continue like they are right now, mining will continue to be pushed out of the US,' says Chris Bendiksen, bitcoin research lead at investment firm CoinShares. 'We might have seen the zenith of US mining.' In a statement to WIRED, White House spokesperson Kush Desai rejected the idea that tariffs threaten to undermine Trump's ambitions for the bitcoin mining industry. 'Two things can be accomplished at once,' he said, describing the aim to both onshore hardware manufacturing and use energy policy as a lever to reduce cost for bitcoin mining firms. Bitcoin mining is a hardware arms race: To win the right to process a batch of transactions and claim the associated bitcoin reward, mining companies compete in a race to solve a computational puzzle. To ensure their fleet is sufficiently powerful to beat out competitors, miners must constantly replace old and weatherbeaten hardware with the latest, most advanced machines. In the mining hardware market, two Chinese manufacturers—Bitmain and MicroBT—are king. The pair are estimated by the Cambridge Centre for Alternative Finance (CCAF), an offshoot of the University of Cambridge, to control a combined 97 percent of the market. Plenty of challengers have tried to break the oligopoly, but failed to compete on hardware performance or reach the necessary economies of scale. 'The road is lined with the corpses of people who have tried that,' says Bendiksen. However, the pressure applied to mining companies buying from Chinese hardware suppliers under the new tariff regime has forced some to confront their import dependency—and search for a workaround. The company best placed to take advantage is Auradine, a Santa Clara–based mining hardware manufacturer, analysts say. In its three years in operation, Auradine has failed to wrench market share away from Bitmain and MicroBT, which have wielded pricing power to preserve their dominant position, Auradine has previously alleged. MicroBT did not respond to a request for comment. 'We welcome fair competition, because when miners win the whole ecosystem grows,' says Irene Gao, president of mining at Bitmain.) But since Trump announced the new tariffs, Auradine has fielded an influx of requests from US mining firms wanting to diversify their hardware fleets, claims Rajiv Khemani, its cofounder and CEO. Though there are small hardware challengers other than Auradine—among them Bitfury, Iceriver, iPollo, and BIT Mining—none were founded in the US. 'We have a very strong pull,' claims Khemani. 'We are seeing incredible interest in our customer base in making sure that in whatever environment we end up in, mining operators are hedged' against tariff risk. To capitalize, Auradine recently released an updated and extended range of bitcoin mining hardware, and raised an additional $153 million in Series C funding. The company will soon announce new high-profile customers signed in the wake of Trump's tariff announcement, according to Khemani. The company's headline client is US-based MARA Holdings, a publicly traded bitcoin mining firm that helped to launch Auradine and now owns an $85.4 million equity stake in the business. Though Auradine products account for only a small proportion of the hardware deployed at MARA facilities, they make up around half of the machines the mining company has ordered in 2025, says Fred Thiel, MARA CEO. 'In an environment where you have geopolitical risk and tariff risk and can buy a US-made miner at the same price as a Chinese-made miner, would you buy the US-made miner, all else being equal? Yes,' says Thiel. 'If the next shoe to drop is a prohibition of import of Chinese miners and you have placed a $300 million order and paid a deposit, you are in a difficult situation.' The degree to which Auradine stands to gain by the tariffs, however, will depend to some extent on the ability of US-based mining firms to withstand the weight of those same tariffs, as applied to their preexisting hardware orders. The timing could barely be less opportune: Though the rising price of bitcoin has helped, other factors—fierce competition, a slump in transaction fees, diminishing bitcoin rewards, and so on—have whittled down margins for mining companies, analysts say. Mining firms are also facing heightened competition for limited energy resources in the US, mostly from AI companies flush with venture funding. New projections from the US Department of Energy indicate that, by 2028, AI could consume the equivalent amount of electricity as 22 percent of US households. 'Miners have always been scrappy buyers. They are kind of the vultures of the power grid,' says Bendiksen. 'The AI companies are outbidding—they are just willing to pay more.' The tariff hikes alone are not enough to drive bitcoin miners out of the US; by comparison to the price of energy, say, the cost of a hardware import levy has only a small impact on the viability of a mining operation, claims Thiel. But as an aggravating factor in an already unfavorable environment, they matter. 'Typically, this type of shock would lead to consolidation,' says Thiemo Fetzer, a professor of economics at the University of Warwick, referring to the tariffs. 'A priori, one would expect a cull of small miners because of the rising cost of equipment and greater supply chain uncertainty.' Bitcoin mining firms operating in the US—including Riot Platforms, Bitfarms, MARA, CoreWeave, Core Scientific, Hut 8, Iris Energy, and others—are already scrambling to diversify out of the mining market, reworking their facilities to accommodate AI training and high-performance computing. Only few large outfits, like CleanSpark, remain committed to bitcoin mining exclusively. 'Most of the miners are throwing in the towel,' says Bendiksen. 'I think a lot of people were going down this route before the tariffs. But tariffs have probably confirmed the validity of that strategy.' Some, among them MARA, are choosing to expand their mining operations into countries other than the US, negating tariff risk. 'Why do you want to have a lot of international business? It eliminates single-bullet regime risk,' says Thiel. 'I'm a big believer in you have to have optionality as a bitcoin miner.' Meanwhile, Bitmain and MicroBT are ramping up manufacturing capacity within the US, potentially eroding part of the value proposition—tariff immunity—currently pushing buyers towards companies like Auradine. 'We're actively investing in the US, including manufacturing,' says Gao. For now, bitcoin mining firms are in a holding pattern. Until the 90-day pause on Trump's new tariffs comes to an end in July, the extent of their financial impact will remain uncertain—and firms are delaying hardware procurement decisions accordingly. 'I think people are looking at where things will bottom out on the tariffs,' says Khemani. On their face, Trump's tariffs stand at odds with his stated ambitions for the US bitcoin mining industry, even as his own sons forge into the sector. 'The tariffs are clearly destructive,' claims Bendiksen. To achieve both ends—to drive business towards US-based bitcoin mining hardware makers, whilst lending support to bitcoin mining firms facing deteriorating economics in the US—would require Trump to pull on other levers to balance out the impact of tariffs. One option would be to prioritize the buildout of new energy generation capacity, analysts say, creating an abundance that in theory would drive down a major input cost for bitcoin mining. The Trump administration claims that a raft of recent executive orders will combine to reduce energy costs in the US. But so far, the picture on the ground—the deprioritization of bitcoin mining among US firms—indicates that Trump's message about the prospect of all-American bitcoin is 'basically just words,' claims Bendiksen. 'It's just pandering to nationalist feelings.'
