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Category Archives: Financial System

Musk and the federal government

Via Next Draft: What’s in it for Musk (and a handful of other billionaires funding the entire Trump operation)? Well, let’s narrow the answer down to this: Everything. Franklin Foer in The Atlantic( Gift Article): What Elon Musk Really Wants. “Many other titans of Silicon Valley have tethered themselves to Trump. But Musk is the one poised to live out the ultimate techno-authoritarian fantasy. With his influence, he stands to capture the state, not just to enrich himself. His entanglement with Trump will be an Ayn Rand novel sprung to life, because Trump has explicitly invited Musk into the government to play the role of the master engineer, who redesigns the American state—and therefore American life—in his own image.” (On the positive side, if the turnout is good for Dems, they can beat Trump and Musk in one election.)

+ NYT (Gift Article): U.S. Agencies Fund, and Fight With, Elon Musk. A Trump Presidency Could Give Him Power Over Them. “Given Mr. Musk’s immense business footprint, he will be a major player no matter who wins the election. But he has thrown his fortune and power behind former President Donald J. Trump and, in return, Mr. Trump has vowed to make Mr. Musk head of a new ‘government efficiency commission’ with the power to recommend wide-ranging cuts at federal agencies and changes to federal rules. That would essentially give the world’s richest man and a major government contractor the power to regulate the regulators who hold sway over his companies.” And from WaPo(Gift Article): “In essence, Musk is running a real-time experiment on American democracy. “Can a billionaire change the results of a close election by buying a communications platform, stretching legal limits by throwing millions around in swing states, and funding organizations that run deceptive ads?”

Google’s AI Fails At 43% Of Finance Queries, Study Finds

Search Engine Journal: A study by The College Investor finds significant inaccuracies in Google’s AI-generated summaries for finance queries. Out of 100 personal finance searches, 43% had misleading or incorrect information. Key Findings -The study evaluated AI overviews across various financial topics, including banking, credit, investing, taxes, and student loans. The results showed: 57% of… Continue Reading

Pete Recommends – Weekly highlights on cyber security issues, October 19, 2024

Via LLRX – Pete Recommends – Weekly highlights on cyber security issues, October 19, 2024 – Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the… Continue Reading

Inside Redbox’s insane bankruptcy unwinding

Sherwood: “Ever wanted to own 46 copies of Orlando Bloom’s latest movie? What about a dozen empty Redbox DVD cases? Or maybe an entire Redbox kiosk, free with local pickup? It’s all up for grabs, thanks to Redbox’s recent demise. The chain of DVD-rental kiosks filed for bankruptcy in June after racking up close to… Continue Reading

The Individualization of Responsibility – Masterclass in Deception

The Climate Historian: “…In the mid-20th century, as evidence mounted linking smoking to lung cancer, the tobacco industry didn’t just fight back—they mastered the art of deflection. Instead of outright denying the dangers, they funded research to stir doubt, muddying the scientific waters.In the 1950s, the Tobacco Institute launched its “health reassurance” campaigns. These campaigns… Continue Reading

Marching Toward Violence: The Domestic Anti-Israeli Protest Movement

Over 150 groups involved in the disruptive anti-Israel protests on college campuses and elsewhere in the United States are “pro-terrorism.” The vast majority support Hamas and/or the October 7 terrorist attacks. The movement contains militant elements pushing it toward a wider, more severe campaign focused on property destruction and violence properly described as domestic terrorism.… Continue Reading

Comics art against Project 2025

“Project 2025 is a detailed plan to shut you up, and shut you out. You matter, and you have a voice. Project 2025, also known as “Mandate for Leadership: The Conservative Promise,” is a document created to be a roadmap for a second Donald Trump presidency. It was prepared by the ultra-conservative Heritage Foundation and… Continue Reading

What Do Climate Risk Indices Measure?

Liberty Street Economics, New York Fed, October 7, 2024: “As interest in understanding the economic impacts of climate change grows, the climate economics and finance literature has developed a number of indices to quantify climate risks. Various approaches have been employed, utilizing firm-level emissions data, financial market data (from equity and derivatives markets), or textual… Continue Reading

Campaign Finance Made Easy: Announcing DataTalk

Cheryl Phillips, Founder and Co-Director, Big Local News: “DataTalk is an experimental system that makes it easier to follow the money flowing through national campaigns for the Nov. 5 U.S. election. It allows for natural-language queries of large public datasets from the Federal Election Commission (FEC) and OpenSecrets.org to help journalists and other researchers tap… Continue Reading

Why are Red State Citizens Poorer, Less Educated & Sicker than Blue State Citizens?

Hartmann Report – “Republicans worship cheap labor — and having a steady and reliable supply of cheap labor requires widespread poverty… We must not confuse statistical probability with some transcendental and utterly compelling force. — Unspiek, Baron Bodissey One of the enduring mysteries of America is why the citizens of Red states are generally poorer,… Continue Reading

Trump would add twice as much to national debt as Harris

US Budget Watch 2024 is a project of the nonpartisan Committee for a Responsible Federal Budget – The next President will face significant fiscal challenges upon taking office, including record debt levels, large structural deficits, surging interest payments, and the looming insolvency of critical trust fund programs. Our large and growing national debt threatens to slow economic growth,… Continue Reading