Yes, Mr. President, there is a 14th Amendment

[Bloomberg]( Today’s Agenda - Trump’s plan to outlaw birthright citizenship may [not pass legal muster](. Nor [is it wise](. - GE is finally suffering [real, necessary pain](. Time for [a little more](. - The midterm elections really do [matter more than usual](. - China’s stock-market [pain isn’t over](. - Trump’s State Department is [dangerously understaffed](. Trump V. Anchor Babies A lot has changed in America, but we’re not yet at the point where the president can just change the Constitution by saying “Abracadabra.” Give it a few months at least. Axios this morning [released video]( of an interview with President Donald Trump, in which he claimed he could do away with “birthright citizenship” – that thing where babies born to immigrants in the U.S. are automatically citizens – without amending the Constitution, simply by executive fiat. This seems … not right. And Noah Feldman points out that if Trump really tries this, he’ll launch [a long court fight]( that will leave conservative jurists (including, say, Trump appointees Neil Gorsuch and Brett Kavanaugh) in a bind. Many of these judges consider themselves both “originalists” and “textualists,” holding both the original meaning and plain text of the Constitution sacrosanct. But while Trump’s action might have an originalist justification (however thin and tortured), it lacks a textual one, Noah writes. A case of Donald Trump v. Anchor Babies would [tie conservative judges in knots](. Putting aside whether outlawing birthright citizenship is legally possible, it’s worth thinking about whether it’s a good idea – from a purely economic standpoint – to do this and every other thing Trump does to discourage immigrants. Justin Fox writes that, spoiler alert – it is not. Trump and his supporters argue that immigrants are a drain on federal government finances. In fact, Justin writes, [native-born Americans are a bigger burden](: GE Finally Gets Real-Ish The Amazing Shrinking General Electric Co. had another rough day. It announced it was basically wiping out its dividend, it said an SEC review of its accounting had widened, and its already cheap stock fell another 10 percent. But Brooke Sutherland writes the dividend cut and an announced plan to split GE’s power business into what she calls a “bad bank” and an “OK-ish one” are [painful but necessary steps]( to getting the struggling icon back on track. And speaking of painful measures, Brooke writes in a second column that GE should probably go ahead and [sell more stock]( to raise cash. CEO Larry Culp ruled it out today, but such foot-dragging helped get GE into this mess in the first place. The Midterms Are a Week Away Everything feels like the end of the world these days, and next week’s midterm elections are no exception. Ramesh Ponnuru yesterday [argued]( everybody should calm down about the midterms, that nothing much will change regardless of who wins the House and/or the Senate. Jonathan Bernstein counters today with five very specific ways [these elections matter more than most](, from oversight of Trump to the message it sends to Republicans. China’s Uphill Battle The U.S. stock market enjoyed a rare [rally]( today, due partly to Trump claiming he wants to make a trade deal with China. He’s said this sort of thing before! But trade peace would not be the worst thing for U.S. stocks, or for China, which is in the throes of even deeper stock-market pain and a growth slowdown to boot. News that China might cut taxes on auto sales boosted spirits in China, along with shares of auto makers. But Anjani Trivedi writes investors [shouldn’t get ahead of themselves]( – the tax cut’s impact may be limited. And Shuli Ren warns China's stock sell-off, which has [recently started to hammer blue-chip stocks](, is far from over. More China reading: - The PBOC shouldn’t be [straining to keep the yuan]( afloat. – Christopher Balding - Japan’s industrials can [shake off China’s gloom](. – Anjani Trivedi Trump’s Empty State Department Pop quiz: How did the U.S. ambassadors to Saudi Arabia and Turkey react to the death of Jamal Khashoggi in the Saudi consulate in Istanbul? It’s a trick question: There are no U.S. ambassadors to Saudi Arabia or Turkey, Bloomberg’s editors point out. Nor are there ambassadors to Australia, Mexico, South Africa and dozens of other nations. In many cases, Trump hasn’t even nominated anyone for the post. Some of this is due to obstruction by Democrats in the Senate, but mostly it’s due to the Trump administration’s haphazard approach to hiring. This [hasn’t led to an international crisis yet](, but the key word there is “yet.” Bonus editorial: Angela Merkel won’t be easy to replace, and her exit raises [doubts about the future]( of the political center in Germany. Chart Attack The long-term trend of robots taking over the world has [run into the short-term ditch]( of trade wars, writes Lionel Laurent. Here is a robot falling over: The Coca-Cola Co.’s latest results are proof that, even if your industry is challenged, your [business doesn’t have to be doomed](, Sarah Halzack writes. Quick Hits No, Elon Musk [did not really just quit]( as CEO of Tesla Inc. – Matt Levine Italy’s [economic horror show]( is just beginning. – Ferdinando Giugliano It’s time for another reminder that [Meredith Whitney was simply flat-out wrong]( about muni bonds. – Brian Chappatta  The real Denmark [isn’t quite what Bernie Sanders]( cracks it up to be. – Leonid Bershidsky We need [younger Senate candidates](. – Jonathan Bernstein The sushi restaurant in Trump’s DC hotel is one of the best in America. But [it’s totally empty](, a sign of our yawning political divide. – Tyler Cowen What’s scarier than climate change? Two words: [Rat explosion](. – Faye Flam ICYMI Mobster [Whitey Bulger is dead](. Special Counsel Robert Mueller told the FBI women were offered money to make [false claims]( against him. It’s pronounced [puh-KAHN](. Kickers Humanity has wiped out [60 percent of Earth’s animals]( in less than 50 years. Why millions of teens [can’t finish their homework](. When you hear death metal, you may feel revulsion. [Fans feel bliss](. Scientists are trying to prove there’s a [massive black hole in the center]( of the Milky Way. The mysterious object [‘Oumuamua could be a discarded alien lightsail](, a study has shown. The case for [watching horror movies](, made by someone who once hated them. The [24 most terrifying TV episodes]( to watch this Halloween. Twenty photos of [epic flooding in Venice](. Note:  Please send death metal, suggestions and kicker ideas to Mark Gongloff at mgongloff1@bloomberg.net. New subscribers can [sign up here](. [FOLLOW US [Facebook Share]]( [Twitter Share]( SEND TO A FRIEND [Share with a friend] You received this message because you are subscribed to Bloomberg's Bloomberg Opinion Today newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022