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Showing posts with label crypto. Show all posts
Showing posts with label crypto. Show all posts

Monday, February 10, 2025

'Soon We're Going Into Education': Trump Previews Elon Musk's Next DOGE Targets (Forbes Breaking News)

The Higher Education Inquirer continues to document the DOGE takeover of the US Department of Education

While some Democratic officials in Congress have protested this action by DOGE, there has been little resistance otherwise. 

DOGE consists of Elon Musk and several young men who have been tasked to reduce the federal budget by at least $1 Trillion. The US Senate has oversight of the Department of Education through the HELP (Health, Education, Labor, and Pensions) Committee, but Republicans, who are led by President Trump, control the Senate, and appear to be supporting these aggressive measures. 

While Mr. Musk has claimed that the Department of Education no longer exists, its website is still operating. 

DOGE also promotes the buying and selling of cryptocurrency.  


Sunday, January 19, 2025

The Business Plots, Then and Now

In 1933, a group of American businessman planned a coup to take down the new President, Franklin Roosevelt. In this scheme, General Smedley Butler would be tasked with orchestrating the overthrow. This attempted coup was called the Business Plot.  

College students today may ask, so what's so important about this moment in history?  The point is that we have entered an era again where big business has a dominating influence over American politics. In the case of the 1933 moment, the coup was reactive. American business had failed, a Great Depression was in progress, and businessmen were fighting to maintain control, a control that they were used to having under Harding, Coolidge, and Hoover. The man tasked to lead the plot, General Butler, squashed it before it happened. And the story largely faded away. 

Eight years later, in 1941, the US would be fighting a world war against global fascism and imperialism.  In the aftermath of the war, a stronger nation would arise. Today, we are also a nation facing intense competition and conflict, this time against China, Russia, India and other nations, with global climate change being a factor that wasn't apparent back then. 

In 2024, US business people, some of the richest people in the world, did something similar, but more proactive and less controversial. Today, folks, in general are OK with American businessmen pulling the strings. The most wealthy man have succeeded where big banks and big business failed before. And they have elected a friend. Today, cryptocurrency is booming. The stock market is booming for now. Unemployment is at record lows--for now. Big business has managed to gain greater control of the US government with little or no uproar. 

 

Saturday, December 21, 2024

Tech Investor Cathie Wood Bets Big on Crypto

Cathie Wood, once the largest shareholder in 2U with ARK Invest, is also a major crypto investor. Wood believes that Bitcoin could top $1M by 2030. With US government guardrails weakened in the coming months, it should be interesting to watch the crypto boom and what happens after that, not just in the economy, but in society. Schools like the Kellogg Institute at Notre Dame have written positively about the use of crypto, discussing the downsides as an afterthought. The Wharton school has been accepting crypto since 2021


Monday, December 2, 2024

The Roaring 2020s and America's Move to the Right

In December 2024, the Roaring 2020s are already here. The stock market is near an all-time high and Bitcoin has gained enormous value, waiting for Donald J. Trump to become President again, to make America Great Again. 


In 2025 US citizens should expect markets to continue growing, and the costly war in the Ukraine to be settled. Deregulation, interest rate cuts, and tax cuts, which provide economic stimulus, will be at the heart of the new Trump Administration, good enough to pump up the economy for years. Threats to raise tariffs on China and other nations (which are costly to consumers) may only be threats.  

Mr. Trump promises a new Golden Age. And many of those who are clever enough and ambitious enough should expect to get rich. But those who do not agree with President Trump may face increased scrutiny, harkening back to a century ago.  

Let's see how long this new era lasts, how it is remembered by different people, and how it is retold in history books.