Versuchen GOLD - Frei
Disgraceful abomination
Daily FT
|June 19, 2025
"PROSECUTIONS will warp into persecutions. Political foes, real and imagined, in the press and online and in politician suit will be subject to Trump's whims and power. Pardons and clemency will rain down like manna on 6 January 2021 insurrection. Russian President Vladimir Putin will again have a friend in the White House and an ally in NATO and the West. Immigrants and people from Muslim majority countries will have an aggressively hostile federal government. Civil rights and LGBTQ+ progress will grind to a halt. The economy will function on behalf of the haves, to the detriment of the have-nots and the left-out" (Colbert I. King, Washington Post 3 July 2024).
The title of this column belongs to Elon Musk, the billionaire X-friend of US President Donald Trump, who, before parting ways with the president coined that expression to condemn Trump's One-Big-Beautiful-Bill (OBBB) of 2025 passed by the Congress and waiting approval from the Senate, as yet another piece of legislation to realise Trump's dream to Make America Great Again (MAGA). This bill, which aims to ease the tax burden on the rich while reducing assistance to those earning less than $ 50,000 by slashing public expenditure on programs like Medicaid and Supplement Nutrition Assistance Program (SNAP) translates into action what Colbert I. King predicted in his column quoted above.
OBBB is also aiming to punish investors and exporters from foreign countries for their greater efficiency and innovative talent, which were gained mostly from US educational and technical institutions. In the name of preventing the spread of so-called anti-Semitism and communist ideology the denial of funds to Harvard University for example is virtually a denial of opportunities to foreign students from gaining advanced knowledge and training in American institutions. All this demonstrates a systemic failure not only in the US economy but also in the institutional superstructure of the ruling superpower.
Making the rich richer and poor poorer
Diese Geschichte stammt aus der June 19, 2025-Ausgabe von Daily FT.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Daily FT
Daily FT
UN warns "world is not prepared” for escalating climate disasters
THE United Nations yesterday issued a stark warning that the world is increasingly vulnerable to extreme weather events, with current systems, financing and infrastructure far from adequate to handle the accelerating pace and scale of dimate-related disasters.
2 mins
December 12, 2025
Daily FT
Sajith launches Disaster Information Centre
Located at Office of the Opposition Leader Aims to collect disaster- related information at Grama Niladhari level
1 min
December 12, 2025
Daily FT
Assetline Finance's landmark Rs. 5 b listed debt issue oversubscribed
Subscription list closes on opening day as investors grab initial offer and option
1 min
December 12, 2025
Daily FT
US Fed delivers third rate cut of the year
THE US Federal Reserve lowered its benchmark federal funds rate by 25 basis points on Wednesday to a range of 3.5%-3.75%, marking the third cut this year.
1 min
December 12, 2025
Daily FT
Positive momentum in primary auctions continue
Secondary Bond market rates decrease Rupee depreciates
1 mins
December 12, 2025
Daily FT
ADB grants $ 200 m loan for water, food security in North Central Province
THE Asian Development Bank (ADB) yesterday said it has approved a $ 200 million loan to support the ongoing Mahaweli Development Program, Sri Lanka's largest multi-use water resources development initiative.
2 mins
December 12, 2025
Daily FT
Banking assets up 16% YoY to Rs. 24.5 t in 9M
THE banking industry expanded its balance sheet in the nine months to end-September 2025, with total assets increasing to Rs. 24.5 trillion and Profit After Tax (PAT) rising to Rs. 279 billion, according to Central Bank data.
1 min
December 12, 2025
Daily FT
Cabinet green lights procuring range of vehicles and equipment to boost primary health care system
THE Cabinet of Ministers on Wednesday approved the procurement of a wide range of vehicles and equipment to improve the country's primary health care system.
1 mins
December 12, 2025
Daily FT
Cabraal discharged on condition he compensates Central Bank in three months
Lawyer argues his client had no intention of causing financial loss to GoSL
2 mins
December 12, 2025
Daily FT
New 3% concessionary loan scheme to support 130,000 MSMEs from next year
IN a bid to revitalise micro, small, and medium enterprises (MSMEs) affected by recent disasters, the Government has decided to launch the RE-MSME PLUS and RE-MSME Disaster Relief loan schemes from 2026.
1 min
December 12, 2025
Listen
Translate
Change font size
