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Trump Proposes Closing Department of Education via Executive Action

                                     In a bold move, U.S. President Donald Trump has announced his intention to dismantle the Department of Education through executive action. Trump, who has long criticized the federal government's role in education, believes that states should have more control over their schools. During a press conference in the Oval Office, Trump stated, "We spend more per pupil than any other country in the world, and we’re ranked at the bottom of the list. What I want to do is let the states run schools." Despite acknowledging that an executive order would face significant challenges, Trump expressed his preference for working with Congress and teachers' unions to achieve this goal. The proposed dismantling of the Department of Education has sparked a debate about the future of federal involvement in education. Critics argue that eliminating the depart...
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Trump’s “Truth Social” Stock Plummets Amidst Market Turmoil


 


Former President Donald Trump’s much-hyped venture, Truth Social, has suffered a catastrophic crash as soon as the markets opened. Shares of Trump Media & Technology Group (TMTG), the company behind Truth Social, plummeted a staggering nine percent in a single morning. Here’s what you need to know about this financial fiasco:

  • The merger between TMTG and a blank check acquisition company last month initially inflated the stock’s value, but the reality has been harsh. Truth Social’s revenue for the past year was a meager $4.1 million, while losses amounted to a whopping $58 million.
  • Investors, once enamored by the astronomical valuation, are now unloading their shares. The crash has wiped out billions of dollars in value, including over $1 billion of Trump’s own net worth.
  • At the time of writing, shares hover around a dismal $36, well below the merger price. The truth, it seems, is that the market has little faith in this social media experiment.

A Dubious Venture

  • Critics argue that Truth Social’s business model resembles a classic pump and dump scheme. Trump’s most ardent supporters, however, remain undeterred. For them, losing money in a failed Trump venture is not a betrayal but a privilege.
  • Political commentator Paul Waldman aptly summarized the situation: “When it crashes to earth, they’ll thank Trump for the privilege of being shaken down” .
  • Barry Diller, chairman of IAC and Expedia, minced no words: “It’s a scam, just like everything [Trump’s] ever been involved in is some sort of con” .

Lessons Learned

  • Truth Social’s fall from grace serves as a cautionary tale. While the former president may have hoped to profit, investors are left counting their losses.
  • As the wreckage settles, one thing remains clear: The celestial rise of Truth Social was short-lived, and its descent mirrors the unpredictability of the cosmos itself.


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