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Elon Musk has dismissed a fictional "to-do list" featured on the cover of TIME magazine, clarifying he had no role in its creation. The list included goals like flying to Mars and slashing $2 trillion from the U.S. budget, which Musk reiterated as part of his mission to make humanity a multiplanetary species. He also noted his recent appointment as an adviser for the Department of Government Efficiency in Trump's upcoming presidency.
Billionaires Elon Musk and Vivek Ramaswamy propose drastic deregulation and eliminating remote work to help reduce the growing American bureaucracy and save money. With federal employee numbers rising to nearly 2.4 million, the U.S. now spends more on debt interest than on defense, highlighting the urgent need for fiscal reform.
A sweeping bill allowing the president to revoke the tax-exempt status of nonprofits deemed to support terrorism passed the House with a 219-184 vote. Critics, including the ACLU and Planned Parenthood, warn it could target a broad range of organizations, undermining due process and threatening essential services. As the legislation moves to the Senate, concerns grow over its potential impact on civil rights and public health.
H&R Block and Intuit stocks plummeted following reports that the Trump transition team is exploring a free tax-filing app, potentially competing with existing services. Intuit"s shares fell 5%, while H&R Block dropped 8%, marking their worst days in years. The discussions come amid ongoing scrutiny of both companies for misleading marketing practices related to free filing options.
President-elect Donald Trump will attend the SpaceX Starship launch in Boca Chica, Texas, on November 16, 2024, alongside CEO Elon Musk and Sen. Ted Cruz. This event marks the sixth launch of the Starship, designed for reusable space travel, as Musk"s close ties with Trump grow, highlighted by his role in co-leading a new government efficiency department. SpaceX has faced scrutiny for environmental violations and noise concerns related to its launches, while the company continues to receive significant federal funding for its projects.
Robert F. Kennedy Jr."s nomination as secretary of health has caused healthcare stocks to drop, particularly affecting vaccine manufacturers like Moderna and Pfizer. Analysts express uncertainty about his potential impact on the sector, especially regarding vaccine policies and obesity treatments, while noting that large-cap stocks may have room for future growth. Kennedy"s views on drug pricing and oversight of Medicare and Medicaid could also reshape negotiations with pharmaceutical companies.
Rajkumar Singhal, CEO of Quest Investment Advisors, anticipates further declines in the Nifty 50, potentially reaching 23,000, despite a recent 10% market correction. He emphasizes investment in sectors aligned with India's growth, particularly in consumption and infrastructure, as the government focuses on enhancing power, railways, and telecom. In U.S. monetary policy, conflicting forces under a potential Trump administration may hinder a significant Fed rate cut, as inflation rises amid tax cuts and tariffs, while government efficiency efforts take time to impact.
Elon Musk and Vivek Ramaswamy have launched the Department of Government Efficiency (DOGE) to pursue significant budget cuts, aiming to reduce the federal budget by $2 trillion. Critics warn that such drastic cuts could cripple essential government functions and risk economic recession. With a two-year deadline set by Donald Trump, DOGE operates as a small advisory body, humorously named after a cryptocurrency.
Elon Musk is deeply involved in Donald Trump's administration, supporting his campaign with significant financial resources and influencing key decisions. Both figures share ambitious visions for reforming the U.S. federal administration, aiming for drastic cost reductions, despite concerns over potential conflicts of interest due to Musk's business ties. Their partnership, characterized by mutual admiration, raises questions about its longevity, as history suggests that only one star can shine in Trump's orbit.
President-elect Trump has announced the creation of a Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, to propose recommendations for enhancing government efficiency by July 2026. Meanwhile, the House passed the bipartisan Social Security Fairness Act, aiming to repeal provisions that reduce benefits for certain retirees, though its future in the Senate remains uncertain. As Congress faces a critical five-week period to pass essential funding and defense bills, Trump’s senior appointments are raising eyebrows, particularly with his selections for the Defense and Justice Departments.
Vivek Ramaswamy
People
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Elon Musk dismisses TIME magazine's fictional to-do list and outlines goals
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