Trump may rue the day he sued Murdoch for libel over Epstein's birthday card
Trump claims that the card, which contains arguably compromising statements, was fabricated by unnamed Democrats. He posted about 'a POWERHOUSE Lawsuit against everyone involved in publishing the false, malicious, defamatory, FAKE NEWS 'article' in the useless 'rag' that is, The Wall Street Journal.'
Murdoch and Trump have had an off-again-on-again relationship over the years. Murdoch's media outlets, principally the Journal and Fox News, after largely opposing Trump during the 2016 Republican primary, have been credited with helping propel him to the White House.
According to the Journal's story, a letter bearing Trump's name 'contains several lines of typewritten text framed by the outline of a naked woman, which appears to be hand-drawn with a heavy marker.'
'Inside the outline of the naked woman was a typewritten note styled as an imaginary conversation between Trump and Epstein, written in the third person,' the paper reported.
It reportedly contained a joking reference that 'enigmas never age' and ended with the words, 'A pal is a wonderful thing. Happy Birthday — and may every day be another wonderful secret.'
Trump denied writing the note after the article was published, posting, 'These are not my words, not the way I talk. Also, I don't draw pictures.'
The birthday note, if authentic, hints at Trump's contemporaneous awareness of Epstein's criminal behavior — as might Trump's comment to a reporter less than a year earlier that Epstein 'likes beautiful women as much as I do, and many of them are on the younger side.'
Dow Jones said it would 'vigorously defend' itself against the lawsuit. 'We have full confidence in the rigor and accuracy of our reporting.' And so the issue is joined in court as well as the court of public opinion.
Libel suits have historically been gravely dangerous not only for defendants but for plaintiffs as well. Such a suit often serves only to magnify the allegedly defamatory statements.
Roy Cohn advised his clients never to sue for libel. He knew that Oscar Wilde and Alger Hiss sued for libel, and the truth, which is always a complete defense in a libel suit, led to criminal prosecution, conviction and jail. Gen. William Westmoreland sued CBS over defamatory statements about his conduct of the Vietnam War. Israeli Gen. Ariel Sharon sued Time Inc. over its reporting about his actions in Lebanon. Both came up essentially empty-handed.
Trump will have a steep uphill climb to make out his complaint against Murdoch. The venerable New York Times v. Sullivan (1964) is still good law, despite Justice Clarence Thomas's stated desire to overrule it. A public official suing for libel must prove by clear and convincing evidence that the defamatory statements were published with actual knowledge of their falsity or a reckless disregard for the truth.
In this case, we are talking about the Wall Street Journal, not the National Enquirer. It is very unlikely that the Journal knew the birthday card was a fabrication or that they proceeded recklessly, knowing that the source of the document was unreliable. More likely than not, the document came from the files of the Justice Department.
Indeed, Trump, apart from lashing back at Murdoch, may have sued mainly to unearth via discovery the source of the leak. Trump claims that he relishes discovery in the case. 'I hope Rupert and his 'friends' are looking forward to the many hours of depositions and testimonies they will have to provide in this case,' the president stated. Trump's lawyers have asked the court to expedite Murdoch's deposition while he is still alive because Murdoch is '94 years old' and 'has suffered from multiple health issues.'
But those 'many hours' may prove more harmful than helpful to Trump. Murdoch's lawyers will be able to bring out just where the Journal obtained the birthday card, as well as all the torrid details of the 15-year relationship between Epstein and Trump, including such undisclosed gems as how the friendship began; how close was it; whether it involved under-age women; whether, and, if so, when Trump learned that Epstein was trafficking teenagers; when Trump learned that Epstein was engaged in criminal acts; and when there was a severance of the relationship and why.
Reports have suggested Trump and Epstein had a rift in 2004 over competing bids on a Palm Beach mansion, but there may be more to the story. Peggy Noonan reminds us that Trump's mantra is 'fight, fight, fight,' and he will do so even when it hurts him. 'There is no way on earth that [the lawsuit] will be a net positive for him. Which surely he knows,' she writes. 'He fights even when he will hurt himself, because the fight is all.'
Trump is essentially libel-proof. What are his damages? His reputation for sexual misconduct is well known. A civil jury in New York found him liably for sexually abusing writer E. Jean Carroll in a department store dressing room. A New York jury convicted him of 34 counts of felony document falsification to cover up a tryst with pornographic film actress Stormy Daniels.
It is too early to tell, but Trump may not have the sort of walk in the park he's had in his recent media lawsuits. He settled with ABC shortly after his reelection for $15 million, arising from George Stephanopoulos carelessly saying Trump was convicted of rape instead of sexual assault. Trump's recent settlement with CBS for $16 million, arising out of the claim that '60 Minutes' left unfavorable footage of former Vice President Kamala Harris on the cutting-room floor, seemed influenced more by parent company Paramount's need for FCC approval of its corporate merger than by the merits of the case.
The Murdoch libel lawsuit, if pressed, may be full of booby traps and surprises for Trump. It could result in disclosure of many of the documents in the possession of the Justice Department, which the Journal reported subsequently were riddled with references to Trump himself.
People in a position to know tell me that Murdoch will never settle. But he did appear to blink a little with a front-page 'exclusive' Journal article Friday under the headline: 'Jeffrey Epstein's Birthday Book Included Letters From Bill Clinton, Leon Black.'
The article was singularly uninformative.
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Check out more trending tickers here. Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Wayfair stock surges after online furniture retailer swings to a profit Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Good morning. Here's what's happening today. Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Oil slides as traders assess OPEC+ hike and Russian risks Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Morgan Stanley's Wilson: Buy stocks dip on earnings strength Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Citi's gold bears turn bullish on US growth, inflation concerns Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Goldman with a sobering view on the consumer Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Swiss stocks decline on US tariffs, push for lower drug prices Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Gold steady with weak job data bolstering the precious metal Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Planes Are Flying Over Blue State Capitals With One Strong Message To Democrats
As you probably know by now, Texas is trying to gerrymander its voting districts and essentially eliminate five Democratic House seats: Why? Trump told 'em so! Related: In response, Texas Democrats fled to Illinois to block a vote, and now Texas Governor Greg Abbott is threatening to remove them from office over it. Blue states like California, New York, and Maryland are now looking into redistricting to keep up with Texas. Related: Gov. Kathy Hochul from New York told the media on Monday, "We are at war. That's why the gloves are off, and I say bring it on." Twitter: @factpostnews After all of this, airplanes have been spotted over the Illinois State Capitol with a message to politicians: Related: "MESS WITH TEXAS" A plane carrying that same banner was spotted over the New York State Capitol in Albany: Annapolis, Maryland saw it, too: Related: And yep, another one was flying over California's State Capitol in Sacramento: Now, let's see if these Dem leaders actually do something about it. Also in Internet Finds: Also in Internet Finds: Also in Internet Finds:
