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‘Clean Statue of Liberty' movement goes viral as New Jersey and New York experience severe flash floods

‘Clean Statue of Liberty' movement goes viral as New Jersey and New York experience severe flash floods

Hindustan Times3 days ago
As New Jersey and New York were struck with severe flash floods on Monday, a viral 'Clean Statue of Liberty' movement emerged. Several social media users urged the city and federal government to clean the iconic monument before America's 250th Independence Day next year. We do not know who started the movement, but influencers are posting a timeline of the Statue of Liberty showing the yellowing of the monument. A Clean Statue of Liberty movement emerged on Monday(REUTERS)
'Clean Statue of Liberty' movement
'There is a movement to clean the statue of liberty next year for America's 250th anniversary,' one person wrote on X, platform formerly known as Twitter.
Read More: New Jersey state of emergency: NJ Turnpike completely flooded; scary scenes at New Providence
'Trump should clean the Statue of Liberty to celebrate America's 250th birthday. Internet. Do your thing and make this happen!' another person tweeted.
Advocates further demanded cleaning the statue's copper patina, removing graffiti, and upgrading Liberty Island's infrastructure to withstand climate-driven storms. A petition on Change.org was launched in 2022.
'The Statue of Liberty is a Monumental piece of American history, symbolizing our heritage and human rights as citizens of this Great Nation. We as the people must restore this piece of art to its former and original, respective glory, as a sign of hope, peace and pursuit of happiness during these dark times."
"Many of us have families who came through Ellis Island and the rest of the world deserves to see the beascon of hope as it once stood, in its Glory, in order to understand the sentimental value that its beauty brought to the shore of a land that was symbolic of a fresh start for those persecuted by exiled and impoverished.. Please stand with me in getting this statue clean, just as we mist cleanse America of the struggles that many people face everyday in these trying times,' it stated.
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The math behind Trump's Fed critique doesn't add up
The math behind Trump's Fed critique doesn't add up

Mint

time26 minutes ago

  • Mint

The math behind Trump's Fed critique doesn't add up

President Donald Trump has long called himself the King of Debt, his companies' six bankruptcies notwithstanding. But as one of his recent Truth Social posts shows, he surely isn't the King of Arithmetic. On July 9, as part of his ongoing pressure campaign against Federal Reserve Chair Jerome Powell, Trump posted this on Truth Social: 'Our Fed Rate is AT LEAST 3 Points too high. 'Too Late' is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs." That figure—$360 billion in savings per percentage point drop in the federal-funds rate—probably looks right to people who don't know how the U.S. national debt works, which may well include Trump himself. But it isn't right. Yes, with the U.S. national debt at $36.6 trillion, a 1% drop in the debt's rate would, in fact, save taxpayers about $360 billion a year in interest costs. (Not in 'refinancing costs"—but let's give Trump the benefit of the doubt and assume he meant 'interest costs.") And yes, the Fed controls the fed-funds rate, a short-term rate that affects the interest cost of the Treasury's short-term borrowings. However, there are several major problems with Trump's math and his logic. Here is the deal. The Fed doesn't control midterm and long-term borrowing rates—the type of borrowing that makes up the bulk of the publicly traded national debt. Short-term Treasury bills, which are the only part of the debt that is heavily affected by the Fed-funds rate, make up just $5.78 trillion of the total publicly traded debt. But the amount of outstanding T-bills is dwarfed by the $15.07 trillion of outstanding Treasury notes, with an average interest rate of 3.05%, and the $5.03 trillion of outstanding bonds, which has an average interest rate of 3.3%. Overall, the publicly tradable portion of the debt has a weighted average maturity—the average amount of time until the government must pay—of a bit under six years. The average interest rate is 3.3%. So even if Jerome Powell woke up tomorrow morning and asked his fellow Fedniks to cut the fed-funds rate from its current 4.25%-4.5% to 3.25%-3.5%, it wouldn't save taxpayers anything resembling the $360 billion a year that Trump has touted. My calculations suggest the figure is closer to $90 billion. I wanted to discuss this mathematical discrepancy with the Trump administration, but the White House press office declined to comment. Whatever you might think of Trump and his policies, numbers are numbers. Sure, a lower fed-funds interest rate would reduce the interest expenses of the Treasury—i.e., taxpayers—below what they would otherwise be when the Treasury issues short-term debt. We are sure to see a lot of that happening soon, given the current federal budget deficit and the $3.4 trillion to $5 trillion in additional deficits that some nonpartisan groups estimate will be caused by Trump's signature Big Beautiful tax legislation over the next decade. I have been writing about Trump since his days as a New York City real estate developer. At the time, he didn't have much of a national profile, or a way with numbers. His numbers often turned out poorly for him and his creditors. His now-vanished casino empire in New Jersey had no fewer than five Chapter 11 bankruptcies: one for each of the three casinos he owned, then two more for the postbankruptcy company that was created to hold his three casinos after their initial bankruptcy filings. The company had a third bankruptcy, but by then Trump wasn't running it. Trump's Plaza Hotel in New York went bankrupt, too. When he was elected president in 2016, Trump said he would produce budget surpluses and repay the entire national debt in just eight years. Instead, the debt grew by about $8 trillion during his first term—although, in fairness, part of that debt-growth was caused by the economic damage of the Covid-19 pandemic. As Trump continues his campaign against Powell, look for him to produce more whimsical numbers that are meant to point to Powell's supposed part in creating federal budget deficits, for which Trump doesn't seem to accept any blame. But make sure to take Trump's numbers with a grain of salt. Or even better, with a saltshaker full. Allan Sloan is an independent business journalist and seven-time winner of the Loeb Award, business journalism's highest honor. Email: editors@

Naked woman, signature on private parts: What did Trump's letter for Epstein's 50th birthday include? MAGA rallies as US President threatens to sue
Naked woman, signature on private parts: What did Trump's letter for Epstein's 50th birthday include? MAGA rallies as US President threatens to sue

Time of India

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  • Time of India

Naked woman, signature on private parts: What did Trump's letter for Epstein's 50th birthday include? MAGA rallies as US President threatens to sue

A bizarre birthday letter gifted to Jeffrey Epstein in 2003 has started a row surrounding the MAGA chief himself. Donald Trump seems to be in deep trouble as The Wall Street Journal revealed and reported a note gifted to the pedophile Epstein bearing Trump's name and included a crude drawing of a naked woman. The US president has strongly denied the claims and threatened legal action. The letter is part of a collection compiled for Epstein's 50th birthday, featuring an outline of a woman's body with the word 'Donald' written where pubic hair would be. It also included typewritten text and concluded with the line: 'Happy Birthday — and may every day be another wonderful secret.' The note was included in a birthday album reportedly assembled by Ghislaine Maxwell , Epstein's former right-hand woman and convicted child sex trafficker. The letter in question had been part of the material reviewed by justice department investigators in a previous probe into Epstein's activities. The birthday album compiled by Maxwell included messages from multiple high-profile individuals and was created as a keepsake for Epstein's 50th birthday celebration. WSJ reviewed the document and published its findings on Thursday. This was followed by an immediate and aggressive response from Trump. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo He denied both writing the letter and drawing the image. 'I never wrote a picture in my life. I don't draw pictures of women,' Trump told The Wall Street Journal. 'It's not my language. It's not my words.' He further threatened to sue The Wall Street Journal, NewsCorp and Rupert Murdoch for publishing the story. 'President Trump will be suing The Wall Street Journal, NewsCorp, and Mr. Murdoch, shortly,' read a Truth Social post made Thursday. Trump also claimed his team, including White House press secretary Karoline Leavitt, had warned the outlet not to publish what he called a 'fake' letter. That same night, Trump said on Truth Social that he had authorised Attorney General Pam Bondi to produce 'any and all pertinent Grand Jury testimony, subject to Court approval.' Bondi responded on X that she was prepared to do so. MAGA bigwigs scramble to defend their boss US vice president JD Vance came to Trump's defence, calling the Journal article 'complete and utter bullshit' in a post on X. Prominent MAGA supporters were quick to dismiss the report as false. Far-right activist Laura Loomer, who has been demanding more transparency from the administration on the Epstein files, wrote on X: 'Everyone who actually KNOWS President Trump knows he doesn't type letters. He writes notes in big black Sharpie.' Charlie Kirk, another influential Trump ally, also rejected the idea that Trump authored the note. 'This is not how Trump talks at all. I don't believe it,' he wrote. Trump also faces revolt from the Republican base The report has emerged at a time when Trump's handling of the Epstein investigation is under increasing scrutiny from within his own base. A faction of Trump supporters had expected his administration to release all remaining Epstein-related files, and were angered when the justice department announced last week that it would not be doing so. In a memo, the department said that Epstein died by suicide and that there was no 'client list.' The decision triggered a backlash from several Trump allies who had been calling for greater disclosure. However, Trump lashed out at the criticism. 'Their new SCAM is what we will forever call the Jeffrey Epstein Hoax, and my PAST supporters have bought into this 'bullshit,' hook, line, and sinker,' he wrote on Truth Social on Wednesday. He later said Bondi could release any 'credible' files on the matter but also criticised 'stupid and foolish Republicans' for continuing to press the issue. Karoline Leavitt clarified on Thursday that Trump 'would not recommend' the appointment of a special counsel to reopen the Epstein investigation. Trump and Epstein's bond Trump had known Epstein socially in the 1990s and early 2000s and was photographed with him on several occasions. His name also appeared in flight logs of Epstein's private jet. However, Trump has repeatedly insisted that their friendship ended well before Epstein's 2008 conviction for soliciting a minor. He also stated they had not spoken in around 15 years by the time Epstein was arrested again in 2019. Jeffrey Epstein died in a New York jail in 2019 while awaiting trial for sex trafficking charges. His death was ruled a suicide by medical examiners, but the circumstances have led to ongoing speculation and conspiracy theories.

Japan's SMEs ready to adapt to Trump tariffs
Japan's SMEs ready to adapt to Trump tariffs

Time of India

timean hour ago

  • Time of India

Japan's SMEs ready to adapt to Trump tariffs

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