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I am a business economist with interests in international trade worldwide through politics, money, banking and VOIP Communications. The author of RG Richardson City Guides has over 300 guides, including restaurants and finance.

eComTechnology Posts

The Court That Let Democracy Bleed

The Court That Let Democracy Bleed MeidasTouch Network and Michael Cohen Jul 15, 2025 Guest article by Michael Cohen In a chilling, unsigne...

Big Tech Mafia Spotted in Church


U.S. oligarchs like Meta CEO Mark Zuckerberg, Amazon founder Jeff Bezos, and Apple CEO Tim Cook were all spotted sitting behind Donald Trump’s family at church Monday morning, just hours before the incoming president will be inaugurated. And it’s a great reminder that the U.S. is about to enter a frightening new era that begins when Trump is sworn in as the 47th president at noon ET.

Trump attended St. John’s Episcopal Church in Washington D.C. on Monday, a tradition that’s been observed by past presidents like Barack Obama and George W. Bush. But those presidents didn’t have business leaders who stand to benefit from the incoming administration filling out the pews.

Photographer Anna Moneymaker captured images from inside the church, and it’s a who’s who of the wealthiest, most powerful people in the world of tech, including guys like Zuckerberg, Bezos, and Cook, as well as Google CEO Sundar Pichai and podcaster Joe Rogan.

Google will let platforms and devices employees leave voluntarily prior to layoffs

Google will let platforms and devices employees leave voluntarily prior to layoffs

Google has given US employees in the Platforms and Devices team the option to exit voluntarily before it starts cutting jobs. The news was first reported by 9to5GoogleGoogle's Platforms and Devices team has 25,000 employees and was formed when the company merged its Android and hardware teams last year. It's in charge of a bunch of Google products, including Android, Chrome, ChromeOS, Pixel, Nest and Fitbit. However, only employees based in the US who are directly reporting to the division's VP, Rick Osterloh, can leave voluntarily with a severance package. 

Osterloh reportedly told the team in a memo that the "voluntary exit plan" is for those struggling to meet the demands of their role or those unhappy with the company's hybrid work setup. People have until February 20 to sign up for the exit program, and since the memo says they'll find out if they've been accepted on March 25, some people may not be able to leave the company with the severance package it's offering. Google is scheduled to release its earnings report for the fourth quarter of 2024 in a few days, and it'll be interesting to see if it reveals a decline in revenue or any other weakness that could've led to the buyout and impending layoffs. 

"The Platforms & Devices team is offering a voluntary exit program that provides US-based Googlers working on this team the ability to voluntarily leave the company with a severance package," Google said in a statement. "This comes after we brought two large organizations together last year. There's tremendous momentum on this team and with so much important work ahead, we want everyone to be deeply committed to our mission and focused on building great products, with speed and efficiency."

According to CNBC, employees were pleased with Google's decision to offer voluntary exits with severance instead of going straight to job cuts. They were apparently aware of Google's future cost-cutting efforts and asked for voluntary buyouts as an option. 

This article originally appeared on Engadget at https://www.engadget.com/big-tech/google-will-let-platforms-and-devices-employees-leave-voluntarily-prior-to-layoffs-130017394.html?src=rss

Scott Bessent and Treasury sec takes over

 CFPB told to halt work as Treasury sec takes over. Treasury Secretary Scott Bessent was appointed the acting director of the Consumer Financial Protection Bureau after President Trump fired the head of the financial watchdog agency created in the wake of the 2008 crisis. Bessent got right to work implementing the latest signature Trump administration pause, telling the agency’s staff to stop all work on enforcement, litigation, and new rules pending review.

UK PM Starmer tells Canada's Trudeau he welcomes global conversation on trade

UK PM Starmer tells Canada's Trudeau he welcomes global conversation on trade

LONDON - British Prime Minister Keir Starmer told his Canadian counterpart Justin Trudeau in a call on Wednesday that he welcomed an international conversation on the importance of trade and collaboration, Starmer's office said.

The Plantation Politics of MAGA America

 

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The Plantation Politics of MAGA America: Is This the Future We Want?

Restoring power to the richest, whitest men in the room. How long can democracy survive under Trump’s iron grip?

 
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Welcome to your first full day in the new Confederate States of America.

Much like the old CSA, the new CSA (also known as MAGA America) is devoted to:
— Making American as white as possible,
— Stripping women and minorities of political and economic power,
— Gutting workers’ rights,
— Rigging election outcomes,
— Leaders nakedly taking bribes,
— Using a phony veneer of Christianity to justify brutal policies,
— Making queer people invisible,
— Reconfiguring schools for indoctrination,
— Having militias terrorize minorities and their opponents, and,
— Maintaining a government of, by, and for rich white men.

Turn America into an oligarchy run by rich white men

Never in American history has a group of morbidly rich white men this large or with anything close to this net worth sat to watch a president get sworn into office, and never before have so many billionaires been in a president’s cabinet.

Trump has been openly selling legislation; for example, he recently told a group of fossil fuel CEOs that, if they’d give him a billion dollars, he’d gut the nation’s environmental laws that they don’t like.

Seeing the opportunity, the nation’s richest people have flocked to Trump’s side, each presumably hoping for their own desired federal subsidies or an end to regulations, government lawsuits, or anti-trust actions.

And, of course, they all want more tax cuts.

Make America White Again

The Immigration Act of 1924 limited people coming into the country based on race; each year’s immigrants must be selected in a way that maintained the racial ratios that existed in 1890 (before the big wave of swarthy southern European immigrants, most Italian and Greek, that came here during the three decades between 1890 and 1924).

In 1965, Congress passed a new immigration law that ended the racial/country quotas, leading to a rapid increase in Black and Brown immigrants entering the country legally. Combined with illegal immigration, Reagan’s amnesty, and birthright citizenship for their children, the browning of American picked up speed to the point where 2014 was the first year when nonwhite children outnumbered white kids in the nation’s public schools.

To end this trend and make America white again, Trump has, at various times, proposed that America no longer allow immigrants from majority Black “shithole countries,” banned immigration from majority-Muslim countries, will harden the southern border, and last night signed an executive order to end birthright citizenship.

The 14th Amendment defines birthright citizenship, saying:

“All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.”

Trump’s lawyers are arguing that people here without documentation are not “subject to the jurisdiction” of American law because they’re not here legally. Therefore, they say, their children born here are also not “born subject to the jurisdiction” of American law and thus not citizens.

They plan to take their argument to the Supreme Court, where it may receive a favorable hearing. If successful, they might even have a case for stripping citizenship from and then deporting tens of millions of mostly Hispanic American citizens whose parents were undocumented.

Strip women and minorities of political and economic power

Our MAGA Supreme Court majority has already succeeded in several steps toward this goal, by ending abortion rights and gutting both civil rights and voting rights laws.

Four GOP-controlled states are considering charging women who get abortions with murder, and Republicans on the Supreme Court have already functionally outlawed affirmative action and given states the power to make voting harder for Black, Hispanic, and Native American people.

Vice President Vance has written to the Justice Department demanding that they begin to enforce the moribund Comstock Act, which would outlaw the mailing of abortion and birth control medications, among other things (including porn).

Meanwhile, DEI programs in both government and the corporate world are being ended to once again allow companies with white leadership to give preference to white men up for jobs or promotions. Looking at the composition of Trump’s incoming administration and cabinet, it’s reasonable to assume that nonwhite people must be willing to play the role Samuel L. Jackson did in Django Unchained if they want a position.

Gut workers’ rights

In his last administration, Trump put the virulently anti-union lawyer Eugene Scalia (son of former Supreme Court Justice Antonin Scalia) in charge of the Labor Department. His current nominee, former Congresswoman Lori Chavez-DeRemer, has a more mixed record, but she won’t be setting the administration’s labor policy: Trump will.

The same Trump who told Elon Musk on a live X event:

“You’re the greatest cutter. I look at what you do. You walk in and say, ‘You want to quit?’ I won’t mention the name of the company, but they go on strike and you say, ’That’s OK. You’re all gone.'”

Musk laughed and said, “Yeah.” Bezos is also virulently opposed to unionization of his Amazon workplace, and Trump has a long history of avoiding hiring companies with unions to do work on his properties.

Rig election outcomes

When the plantation oligarchs ended democracy in the Old South during the 1840-1860 era, they continued to allow elections. But white men who voted (they were the only ones allowed to vote) for anybody other than the oligarch’s men often lost work, were beaten, and even sometimes lynched.

Republicans today are a bit more sophisticated, but their ability to rig elections has endured.

In the years immediately following the Republicans on the Supreme Court’s Shelby County decision that eviscerated the Voting Rights Act of 1965, over 1600 polling places were closed by Republican-controlled states, most in Black neighborhoods. GOP-run state after state passed laws making it harder to register to vote, allowing challenges to voters and purges of voting rolls, and making it easier to refuse to count mail-in votes from cities with Democratic majorities by claiming signature mismatches.

Reporter Greg Palast estimates that if this had not happened and every eligible voter was allowed to vote and every vote cast was counted, Kamala Harris would today be president.

Republicans also work hard to select their voters, rather than allowing voters to select their representatives. While Democratic states have largely abandoned gerrymandering — which could have given Democrats a majority in the House today — Republican states have doubled down on the practice year after year.

Nakedly taking bribes

Donald Trump has rolled out a new meme cybercurrency that will allow any billionaire, company, or foreign country to shovel as much money as they want into his own personal pockets, presumably in exchange for whatever government contract, subsidy, or help they can negotiate with the new president.

The Confederacy, organized and run by a small handful of plantation oligarchs, was also notoriously corrupt, and state governments in the Old South often ran on a naked bribe system.

Phony veneer of Christianity

Slaveholders in the Old South used Christianity to justify their inexecrable practice. Today’s MAGA Confederates are no less hypocritical.

Jesus never once mentioned homosexuality or abortion, although he was explicit that preachers shouldn’t pray in public and that the only way to join Him in heaven was to feed the hungry, heal the sick, welcome the stranger, house the homeless, and visit those in prison.

None of that matters, though, to the sanctimonious hustlers running megachurches and appearing on TV and radio; their only goal is to increase their own wealth and power. And Trump, who didn’t even bother to put his hand on the Bible when he was sworn in, promises to gift them with money and prestige so long as they keep delivering their parishioners to the voting booths for Republicans.

Making queer people invisible

Republicans across the nation have succeeded in banning thousands of books that feature or even contain queer characters or discuss homosexuality or transsexuality from schools and libraries. They’re also launching legal efforts — with the explicit support of Clarence Thomas — to outlaw gay marriage and adoption, with the ultimate goal of sending queer people back into the closet as they were prior to the 1980s.

Trump, meanwhile, promises to only recognize two sexes, essentially outlawing trans people.

Use schools for indoctrination

Republicans are proposing in their platform to micromanage school curriculum nationwide by “defunding schools that engage in inappropriate political indoctrination.”

This appears to include removing references to our nation’s history of slavery, patriarchy, and white supremacy; rewriting economic and social studies textbooks to make them more billionaire-friendly; and attacking socialism and communism in ways that may cause students to think that Social Security and similar programs are wrong.

Using militias for terror

In the Old South it was the Ku Klux Klan and the slave patrols.

Today there are dozens of white supremacist groups and independent militias, all devoted to white supremacy and Christian nationalism. Trump’s pardons of the criminals involved in January 6th tells us he’s committed to having the militias that support him rebuild their ranks and get back out onto the streets, but this time on his behalf.

And his continued opposition to gun control signals that, like dictators throughout history and most recently in Hungary and Russia, he wants them armed and dangerous.

Oligarchy is here, now

The bottom line is that the oligarchy of the old Confederacy never really went away and arguably has just taken over the United States 164 years after they first fired on Fort Sumpter, this time with “Tech Bros” replacing plantation owners.

The big question now is whether they’ll be able to hang onto the wealth and power they’ve managed to seize with this election. Oligarchy, after all, is usually a transitional form of government because people get so angry about the government doing everything for the rich and powerful and little to nothing for them that they demand change.

Popular discontent rises until the oligarchs either slam down an iron fist to crush it with violence and thus flip the country into the type of tyranny you see today in Russia, or citizens overcome the oligarchy and restore democracy, as happened in Ukraine when Paul Manifort’s guy (and Putin’s friend) was deposed by the people in 2019, replacing him with Volodymyr Zelenskyy.

Which way will it go in America? Unless Trump gets really violent really fast (a possibility), we’ll probably know with the results of next year’s midterm elections…

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The FAA is grounding SpaceX's Starship after its latest explosion

The FAA is grounding SpaceX's Starship after its latest explosion

The Federal Aviation Administration is ordering SpaceX to conduct a mishap investigation into what caused the company's Starship rocket to explode mid-flight on January 16. Until the FAA approves SpaceX's investigation reported, the company won't be allowed to proceed with future Starship missions.

SpaceX's launch seemed to be going as planned prior to the explosion. Starship successfully made it off the launch pad and SpaceX was even able to catch the ship's boosters. But then, only eight and a half minutes after taking off, the Starship spacecraft exploded, according to SpaceX's post-launch blog post. In response to the sudden explosion, the FAA activated a "Debris Response Area" and slowed or diverted nearby flights to prevent further accidents, severely delaying flights from multiple airlines, according to CNBC.

The FAA's statement says that no one was injured by the falling debris but that its working "to confirm reports of public property damage on Turks and Caicos." The mishap investigation SpaceX performs will have to determine not only what caused the explosion, but also what corrective actions the company needs to take to prevent it from happening again. "Initial data indicates a fire developed in the aft section of the ship," SpaceX says.

This isn't the first time Starship has met an explosive end. Multiple Starship launches have ended with either SpaceX's boosters, the Starship spacecraft or both exploding. The company does appear to be getting better at catching and reusing its Super Heavy boosters, however. The successful catch that preceded the January 16 explosion is only the second time SpaceX has pulled it off. Its first successful Super Heavy catch was in October 2024.

This article originally appeared on Engadget at https://www.engadget.com/science/space/the-faa-is-grounding-spacexs-starship-after-its-latest-explosion-223535001.html?src=rss

Canada drops bad news for RED STATES over Trump’s trade war

Don't you just love a good MAGA Regime

 

Fannie Mae

J. David Ake/Getty Images

One asset that has skyrocketed since the election has nothing to do with bitcoin or Polymarket bets on Greenland becoming the 51st state. That would be the stock of what Bloomberg calls a “stodgy 87-year-old company,” aka Fannie Mae, which, along with its corporate cousin, Freddie Mac, guarantees 70% of US home mortgages.

The financial behemoths have been locked in government conservatorship since getting bailed out with taxpayer cash during the Great Recession. But hedge fund billionaire and longtime Fannie Mae shareholder Bill Ackman recently predicted President-elect Donald Trump would take them private as soon as next year—a process Trump started but did not complete during his first term.

Ackman believes the privatization of Fannie and Freddie could herald a massive payday for those who own a piece of the pie:

  • Shareholders currently don’t get any dividend payments since the government owns 80% of the companies and claims virtually all of their profits, making it the stock equivalent of a random baseball card your dad assures will one day be worth a fortune.
  • But the government reducing its stake in the companies and relinquishing its right to its earnings could make it much more valuable.

While not traded on major exchanges, Fannie Mae shares shot up almost 173% since Trump won the election, as investors bet that his desire to reduce the role of the government in the economy could lead him to privatize the company. The stock is currently priced at over $5, but Ackman recently projected it would zoom to $34 if the government allowed it to go public.

That would be a jackpot for investors like Ackman, but the move would be a major shakeup of the mortgage market that could make home loans more expensive for ordinary Americans.

How we got here

If Fannie Mae sounds like someone who was born during the Great Depression, that’s because it’s the nickname of a company the government established in 1938—called the Federal National Mortgage Association—to make affordable mortgages available to middle- and low-income Americans. Freddie Mac, whose full name is the Federal Home Loan Mortgage Corporation, was founded in 1970 with a similar mission.

The private but tightly regulated Fannie Mae bought mortgages from banks and started packaging them into mortgage-backed securities in 1981, which it sold back to the banks or other financial institutions. In exchange for a fee, it guaranteed the assets were fail-proof, allowing investors to recoup their money even if homebuyers defaulted on their loans.

When Fannie and Freddie found themselves on the verge of bankruptcy in 2007, in part due to risky investments they made in the years leading up to the mortgage crisis, the government injected them with billions in loans. In exchange for its largesse, Uncle Sam put them in a federal conservatorship.

  • Now, all of their profits, which are derived from the loan-guaranteeing fees they charge banks, are remitted to the Treasury.
  • Meanwhile, private shareholders own the other 20% of Fannie and Freddie, holding their diminished stocks mostly in hopes of eventual privatization.

Both companies became profitable after the housing market stabilized in the early 2010s and have since built up about $147 billion in equity. While that piggy bank technically belongs to the government, Ackman argues that Uncle Sam has already recouped all the cash it loaned Fannie Mae and Freddie Mac while making a $25 billion profit.

He claims another $300 billion could flow into federal coffers if the government sells part of its stake via an IPO, allowing the US Treasury to drop risky assets from its ledger. If that IPO happens, it would be the largest in US history.

But Bloomberg Columnist Matt Levine notes that Ackman’s claims hinge on just one interpretation of the conservatorship’s terms and accounting, and that the government might not want to relinquish its control of the companies since they already support a relatively well-functioning mortgage market and are profitable.

What this means for homebuying

Experts are worried that privatizing the two companies could push up mortgage rates since the government wouldn’t guarantee mortgages. That would make homeownership more expensive.

How? Fannie and Freddie operating without an explicit assurance that the government will pay off their debts in case of default could make its mortgage-backed securities riskier, forcing it to charge banks more for its services. Lenders could pass on these costs to homebuyers, potentially driving up yearly interest payments on an average mortgage by as much as $2,800, according to estimates by Moody’s Chief Economist Mark Zandi.

Looking ahead…while the initial law taking the two companies under the government’s wing assumed that the measure would be temporary, and even though Ackman is looking confident, analysts say there’s no guarantee that Trump will make the issue a priority or that he could do it without congressional approval—especially with mortgage rates already hovering around a two-decade high of 7%.—SK