The past week was filled with controversial statements and surprising economic outcomes. Here’s a quick recap of the major stories that unfolded.
Errol Musk, the father of Elon Musk, expressed his apprehension about the projected demographic shift in the United States. He termed the anticipated change as “a very, very bad thing to happen” and questioned the motives behind it.
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The outcome of President Donald Trump‘s aggressive tariff policies has defied mainstream economic consensus, according to Lou Basenese, the Chief Market Strategist at The Basenese Group. Despite the scale of the tariffs, they did not lead to any inflation, a dynamic attributed to deflation from other deregulation and advances in AI.
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Florida Gov. Ron DeSantis (R) said that Washington state's fiscal outlook took a significant hit after Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos relocated from the state to Florida in late 2023. This single relocation of a billionaire entrepreneur has resulted in "a major impact" on Washington's state budget.
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Despite President Trump’s funding cuts, Governor Gavin Newsom (D-Calif.) has reaffirmed the state’s commitment to building a high-speed rail network from Los Angeles to San Francisco. The project has entered the track-laying phase, creating over 16,400 jobs, and with over 171 miles currently under design & construction.
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President Trump announced that the new White House ballroom he is building on the site of the demolished East Wing will feature a “drone-free roof,” casting the project as a high-security showpiece paid for by private donors. The structure would host future inaugurations and be ringed with added protection.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.