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Departure Of Harvard’s Claudine Gay Plays Into Campus Culture Wars

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11 months ago

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Conservatives who have objected to Claudine Gay’s appointment as president of Harvard University on ideological grounds have hailed her resignation as a high-profile win.

Although plagiarism allegations in her PhD thesis played a role in her departure from Harvard’s top job, her departure is more than just an academic dishonesty controversy.

In December, Dr. Gay came under fire for her participation in a congressional hearing panel on antisemitism on college campuses. The panellists’ lacklustre, bureaucratic responses to calls for Jewish annihilation, including Dr Gay, spurred University of Pennsylvania president Liz Magill to quit.

After that incident, Harvard pledged its support for Dr. Gay’s presidency. But the fight was far from done.

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Departure Of Harvard’s Claudine Gay Plays Into Campus Culture Wars

Dr Gay, who is black, epitomizes much of what her right-wing critics despise about current American higher education, which they see as being driven by a left-wing philosophy that prioritizes ethnic and gender diversity over intellectual rigour.

“It was a thinly veiled exercise in race and gender when they selected Claudine Gay,” Republican presidential candidate Vivek Ramaswamy, a Harvard graduate, remarked on social media after she resigned.

Bret Stephens, a New York Times columnist, blasted the “social justice model of higher education,” citing Dr Gay’s comparatively modest academic record, which includes no published books and 11 journal articles.

He warned that what he called the “intellectual rot” in American institutions of higher learning “won’t stop spreading until universities return to the idea that their central purpose is to identify and nurture and liberate the best minds, not to engineer social utopias”.

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Departure Of Harvard’s Claudine Gay Plays Into Campus Culture Wars

Christopher Rufo, a right-wing activist best known for the cultural war over supposed Critical Race Theory teaching in US schools, made the plagiarism charges that led to Dr Gay’s resignation.

Mr Rufo sketched out a now-familiar tactic for conservatives attempting to generate attention to subjects they believe the mainstream media is avoiding in a December social media post.

“We launched the Claudine Gay plagiarism story from the right,” Mr. Rufo wrote in a letter. “The next step is to smuggle it into the left’s media apparatus, legitimizing the narrative to center-left actors with the power to destabilize her.” After that, squeeze.”

Mr Rufo’s efforts were bolstered by the New York Post and the Washington Free Beacon, which reported details of a fresh anonymous complaint filed with Harvard on Monday, which included additional proof of suspected plagiarism in Dr Gay’s published work.

Dr. Gay stated in her resignation letter that she had been “subjected to personal attacks and threats fuelled by racial animus,” and that the last few weeks had demonstrated that more must be done to “combat bias and hate in all its forms.”

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Others on the left echoed this attitude, albeit with more focused rage.

“So what we’ve learned is this: Bad-faith bigots pretending they’re concerned about antisemitism will happily use women of colour – especially black women – as a scapegoat and lightning rod for large systemic issues,” Celeste Ng, a writer, posted on social media. “And that people invested in maintaining those systemic issues will comply.”

Dr. Gay’s retirement brought the current Harvard debate to a close, but the greater conservative movement to undermine – and eventually supersede – liberal-dominated institutions of higher learning continues.

In Florida, Governor Ron DeSantis, a current Republican presidential candidate, overhauled the administration of the New College of Florida, cancelling its diversity and inclusion programs, sacking faculty members, and placing right-wing extremists on its board of trustees, including Mr Rufo. He aims to provide a conservative alternative to the current liberal arts college.

Donald Trump has advocated for reforms in how US institutions are recognized as part of his “Agenda 47” plan for a second term in office, emphasizing “defending the American tradition and Western civilization.” He has also promised to remove equality programs, push universities to cut overhead costs and tax noncompliant schools’ endowments.

Harvard may eventually replace Dr. Gay with someone who shares his intellectual and political views and who continues to advocate for methods to diversify Harvard’s student body.

Conservatives have won a significant win by removing the president of one of the nation’s most prestigious institutions, the one involved in the Supreme Court battle over racial considerations in admissions earlier this year.

SOURCE – (BBC)

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Trudeau Accelerates Bond Selloff Over Mass Spending Fears

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4 minutes ago

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2024-11-23

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Trudeau, Bond Market
Trudeau accelerated a bond selloff due to expectations of faster growth and a deeper deficit

Prime Minister Justin Trudeau has accelerated bond selloffs, citing fears of a larger deficit over his GST giveaway. Investors were concerned he was returning to his free-spending strategy as an election loom.

On Thursday, Trudeau unveiled a C$6.3 billion ($4.5 billion) tax relief and rebate program. It includes a two-month moratorium on federal sales tax on various commodities such as Christmas trees, wine, toys, and books and a C$250 check for almost 19 million Canadians, or over half of the population.

The declaration looked to mark the end of a brief period of fiscal restraint, as Finance Minister Chrystia Freeland committed to contain budget deficits to prevent stoking inflationary pressures.

Now that inflation has returned to the Bank of Canada’s 2% target, policymakers have reduced the benchmark interest rate by 125 basis points since June.

Trudeau’s Liberal government sees an opportunity to dig deeper into the public purse, but some analysts believe investors are keeping a careful eye on the country’s debt.

Bonds continued to fall on Thursday following the announcement, as the 10-year benchmark yield rose 7 basis points to 3.457%. After retail data showed a rise in consumer spending on Friday, it increased by up to 3.488%.

As the Trudeau government considers additional fiscal spending, concerns about Canada’s financial situation persist.

Budget Shortfall

Freeland has yet to publish final spending and income figures for the fiscal year that ended in October. Parliamentary Budget Officer Yves Giroux predicts a deficit of C$46.8 billion, much exceeding Freeland’s self-imposed aim of a C$40 billion shortfall.

Despite promises to reduce deficits, the Trudeau government continues to increase expenditure. This year’s budget includes a new capital gains tax inclusion rate to balance the cost of new housing and social initiatives.

This sparked anger from investors and entrepreneurs but allowed Freeland to present a consistent deficit despite significant spending.

The recent declaration indicates that Trudeau’s government no longer feels restrained in its capacity to use economic stimulus to restore favor.

Pierre Poilievre’s Conservatives have led most surveys by roughly 20 points for over a year. They have pounded the prime minister on affordability and promised to reduce taxes, especially income taxes. An election is expected in late October 2025.

The sales tax break will run from December 14 to February 15. The left-wing New Democratic Party intends to support it but has stated that it will continue to advocate for its permanent implementation and expansion to include additional items.

Let the Bankers Worry

Following Trudeau’s announcement, traders in overnight swap markets reduced their bets that the Bank of Canada will drop interest rates by 50 basis points for the second time in December, lowering the odds to fewer than 25% by the end of Thursday. As of late Friday morning, the odds were less than 17%.

The announcement also encouraged several experts to improve their short-term projections for Canada’s GDP. Analysts at the Bank of Montreal predict that the country’s GDP will increase at a 2.5% annualized rate in the first three months of 2025, up from 1.7%.

Speaking to reporters on Friday, Trudeau praised his government’s approach to program expenditure, claiming it fosters optimism and possibilities for families and the middle class.

“We’re focusing on Canadians. “Let the bankers worry about the economy,” Trudeau stated.

Related:

Canada’s Budgetary Watchdog Warns Over Trudeau’s Spending

Canada’s Budgetary Watchdog Warns Over Trudeau’s Spending

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Forced Sale Google Chrome Could Fetch $20 Billion

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1 day ago

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2024-11-21

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Sale Google Chrome

Antitrust officials in the US could force the sale of Google’s Chrome browser for up to $20 billion, demonstrating the tremendous worth of the world’s most popular web browser.

Bloomberg Intelligence attributes Chrome’s projected worth to its more than 3 billion monthly active users. The US Department of Justice is preparing to request a federal judge order the browser’s separation from Google’s parent company, Alphabet.

Chrome’s worth comes from its overwhelming 61% market share and its crucial role in Google’s advertising ecosystem. User data enables businesses to better target adverts, and the browser also acts as an important distribution mechanism for Google’s AI technologies.

Industry analysts think it may be difficult to find a suitable buyer. While tech behemoths like Amazon could finance the purchase, they would likely face regulatory scrutiny.

AI businesses, such as OpenAI, may emerge as more viable contenders. They could potentially leverage Chrome to broaden their reach and develop an advertising business.

“It’s not directly monetizable,” one analyst told Bloomberg. “It functions as a gateway to other things. It’s unclear how you would assess that in terms of pure revenue generation.”

Google opposes prospective sales, claiming that they will hamper innovation. The firm does not break out Chrome’s revenue individually in its financial filings, even though the browser’s user data plays an important part in the company’s principal revenue stream, advertising.

The DOJ’s suggestion follows Judge Amit Mehta’s August decision that Google had illegally monopolized the search industry. The judge will consider the recommended remedies at a two-week hearing in April 2024, with a final judgment due in August 2025.

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Appeals Court Delays Order For Google To Open Its App Store In Antitrust Case

Appeals Court Delays Order For Google To Open Its App Store In Antitrust Case

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Bitcoin Has Set a New Record And Is Approaching $100,000.

Published

2 days ago

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2024-11-21

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Bitcoin

(VOR News) – Bitcoin broke beyond the $98,000 mark for the first time on Thursday as investors awaited Donald Trump’s second term as president. All of this happened during the day. As such, cryptocurrency has reached a significant turning point.

According to Coin Metrics, the top cryptocurrency was trading at $97,541.61 during the most recent trading session. Merchants provided this information. This suggests a price gain of more than three percent during the previous trading session.

When the period began, Bitcoin peaked at $98,367.00.

During the premarket trading session, MicroStrategy, a platform that facilitates cryptocurrency foreign exchange trading and serves as a bitcoin proxy, saw a 13% gain. Coinbase, on the other hand, had a 2% rise during that period. Furthermore, all of these increases occurred simultaneously.

The market value of Mara Holdings increased by 9%, which helped raise the valuation of mining companies overall. This was among the factors that led to the total rise.

Because of the widespread belief that President Trump will usher in a new era of prosperity for cryptocurrencies, one marked by more favorable laws and the possible creation of a national strategic bitcoin reserve, the price of Bitcoin has been rising steadily this month.

The most recent change brought about by the increase was the consequence of higher financing rates and more open interest in the futures market during Asian trading hours. The rise was the catalyst for this change. This action was prompted by the ensuing rush.

Throughout its lifespan, this legislation was the catalyst for this change for a variety of reasons. At the same time, spot market premiums decreased, according to CryptoQuant statistics. All of this happened at the same time.

Furthermore, a number of short liquidations have been sparked by the recent spikes in Bitcoin’s price, which has caused the price to rise overnight. As a result, the price has gone up much more. As a result, the total number of short liquidations has increased.

According to CoinGlass, these liquidations have effectively produced more than $88 million in capital during the last 24 hours.

Rob Ginsberg, an analyst at Wolfe Research, noted in a study released on Wednesday that “historically, following previous movements of this magnitude, Bitcoin has either entered a consolidation phase or disregarded the overbought condition as investors accumulate.” This phrase relates to the fact that this particular move has happened before.

Ginsberg stated this in reference to the evolution of Bitcoin over time.

Ginsberg’s answer makes reference to Bitcoin’s propensity to go through a period of consolidation. The comment also made reference to this.

He said, “Considering we are emerging from an extended consolidation phase and the price has reached a new high, it suggests that the pursuit is underway.”

The crucial psychological milestone of $100,000 is expected to be reached in the upcoming weeks, and this breakthrough could happen as early as Thursday. It seems likely that this level will be reached. There is a chance that this new development will take place.

This task will be carried out against the backdrop of this historical era. In addition, if Trump were to win a second term, federal budget deficits would increase, inflation would likely increase, and the dollar’s position in international affairs would change.

The administration that Trump would run during his presidency would be responsible for these consequences. All of these characteristics would positively impact the value of Bitcoin as a currency if they were taken into account in the order that they are presented.

The price of bitcoin had risen by more than 130% by the beginning of 2024.

SOUREC: CNBC

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NVIDIA’s Earnings: The Leader In AI Chips Demonstrates Relentless Growth.

 

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