Webtagr - Technology News Summarizer

Trump's Attempted Firing of Fed Governor Tests US Rule of Law

2025-08-26

Donald Trump claims to have fired Federal Reserve Governor Lisa Cook, alleging mortgage fraud before her Fed tenure. However, evidence supporting this claim is weak and irrelevant to her Fed duties. The move is widely seen as an attempt by Trump to exert control over the Fed, replacing independent officials with loyalists, severely threatening the rule of law and the independence of the central bank. Cook's refusal to resign puts Fed Chair Jerome Powell at a crossroads: uphold the rule of law or succumb to power? The outcome will determine whether the US remains a nation governed by law.

(paulkrugman.substack.com)

Tech Rule of Law

Trump's Trade Delusions: The 15% Tariff and the Bigger Danger

2025-08-07

Trump claims the EU pledged a $600 billion “gift” for his discretionary investment. This is a delusion; the EU made no such commitment. Despite this, Trump threatens to raise tariffs on the EU to 35%. While this would harm the EU, the impact may be less than anticipated due to the EU's relatively low dependence on the US market and its adjustments to existing tariffs. However, the underlying hubris and miscalculation in Trump's trade policy pose a far greater concern.

(paulkrugman.substack.com)

Tech

Brazil's Pix Payment System: A Nightmare for US Finance?

2025-07-23

The US House's rejection of bills regarding the Federal Reserve studying or creating a Central Bank Digital Currency (CBDC) sparks debate about the power and politics of US finance. The article contrasts this with Brazil's successful Pix payment system – fast, cheap, and incredibly popular – highlighting the stark difference to slow and expensive US systems. The article argues that the immense power of the US financial industry and the US right's resistance to government intervention are key obstacles to a similar system in the US. Brazil's Pix success offers lessons for other nations, but America may remain trapped by vested interests and crypto fantasies.

(paulkrugman.substack.com)

Tech Brazil Pix

America's Debt Crisis: A Crumbling Foundation of Trust

2025-06-04

The Treasury Secretary's declaration that "The United States will never default" has sparked concerns. The article argues that while U.S. government debt was once considered the ultimate safe asset, markets are now questioning its reliability. The decoupling of the dollar and interest rates, chaotic policymaking processes, and the rushed passage of the budget bill are highlighted as indicators of irrationality and uncertainty in American politics. These factors are eroding international investor confidence, potentially leading to capital flight and an economic crisis.

(paulkrugman.substack.com)

Tech US Debt Economic Crisis Political Risk

Republicans' Cruel Budget: Tax Cuts for the Rich, Cuts for the Poor

2025-05-19

Republicans in Congress are pushing a deeply regressive budget, delivering massive tax cuts to the wealthy while cruelly slashing programs serving lower-income Americans. This bill is exceptionally cruel, relying on demonstrably false claims and failed policies—what some call 'zombie ideas'. For example, it would slash Medicaid by requiring adult recipients to be employed, ignoring the reality that most recipients are children, seniors, or disabled. This isn't just about finances; it's a malicious attack on the vulnerable, revealing a lack of compassion and an abuse of power by the Republican party.

(paulkrugman.substack.com)

Misc Budget Social Welfare

Trump's Trade Fantasy Collapses: What's Next for US Democracy?

2025-04-29

Trump's trade policies are facing a crisis. His claims of hundreds of trade deals lack evidence and are openly disputed by countries like China and Japan. His chaotic negotiating tactics have led to Japanese negotiators withdrawing. Polls show a plummeting approval rating, and his hardline stances on the economy and immigration are also being challenged. The author expresses concern about the potential damage during the remaining Trump administration and calls for action to prevent further harm to US democracy.

(paulkrugman.substack.com)

Misc