Treasury Secretary Scott Bessent spoke exclusively with Kelly O'Grady about Trump accounts, which officially launch on Saturday, as well as when gas prices could lower to pre-Iran war levels and wage growth for Americans.
As part of our July Fourth special broadcast, we continue our extended interview with Karen Hao, author of Empire of AI: Dreams and Nightmares in Sam Altman’s OpenAI. The book documents the rise of OpenAI and how the AI industry is leading to a new form of colonialism. “One of the things that you really have to understand about AI development today is that there are what I call quasi-religious movements that have developed within Silicon Valley,” says Hao. “The concept of artificial general intelligence is not one that’s scientifically grounded.”
According to the renowned fascism historian Ruth Ben-Ghiat, the Supreme Court has become President Donald Trump’s “partner in corruption,” not only working to enrich those who are in on the scam, but reshaping the U.S. as an authoritarian state in which one must “fear and obey” Trump.“This is the summer of corruption,” wrote Ben-Ghiat on Thursday. “Defined as the abuse of power for private gain, corruption can happen in any kind of organization and government, but under authoritarianism it attains a new status: it is how the executive branch operates, expands its power, and recruits elite and grassroots partners. The Supreme Court is one of these partners, as we’ll see below.”The Trump administration and its enablers on the Court, argues Ben-Ghiat, “are providing Americans and the world with a lesson in how corruption can become systemic.” This, she says, is the goal of all authoritarians: they “seek to retool government and the culture to create the conditions to lie, steal and repress people with impunity. That means going after journalists, judges, investigators, opposition politicians and others who expose official wrongdoing. It also means puffing up the leader’s personality cult and inventing narratives, backed by complicit religious institutions, about his selflessness and purity.”She raises the example of Justice Clarence Thomas, who has a well-documented history of “accepting luxury gifts and travel from billionaire GOP donor Harlan Crow,” who in turn “has a garden full of statues of dictators, and collects Adolf Hitler and Nazi memorabilia.” And, according to Ben-Ghiat, “As per the sacred laws of corruption, these ‘gifts’ were likely supposed to be repaid whenever Thomas put on his robes. No matter that the Court, which has no ethical oversight mechanism, finally instituted a code of conduct in November 2023, which states that justices must ‘uphold the integrity and independence of the judiciary’ and avoid actual and apparent impropriety.”Thomas has paid no attention to this code, refusing to recuse himself in cases involving Trump’s election lies, even though Thomas’s wife Ginny was directly engaged in those lies. As Ben-Ghiat muses, “What good would Thomas be as a link in the chain of corruption if he took himself out of the game just when he was most needed?”“And here we arrive at the Supreme Court as a partner in Trump administration corruption, first by giving the President immunity for official acts, and now by upholding his right to dismiss an official on political grounds,” writes Ben-Ghiat. “A landmark ruling in July 2024 gave the president ‘the power of a king,’ as the Brennan Center termed it, conferring upon him absolute immunity (for the exercise of core constitutional powers) and presumptive immunity (for all other official acts). This created the legal space for a lawless individual such as Trump to feel even more emboldened to use corruption and violence to destroy our democracy and make money doing it.”Now, while the Supreme Court has for 100 years upheld that the president does not have the authority to fire heads of independent agencies without cause, Trump’s allies on the court have overturned that precedent, creating conditions for further “systematic corruption.”“We need to see this decision through autocratic eyes,” explains Ben-Ghiat. “Not obeying the Leader, refusing to participate in his corruption, and politicizing the practice of government are acts of negligence and malfeasance in office in the authoritarian world. Such people must be removed from public service, lest they influence others with their moral stances.”The power to fire agency officials at will is exactly what the president needs to shape government to his private agenda. According to Ben-Ghiat, proof of this intention was revealed by the words of Solicitor General John Sauer, who represented the Trump administration in the case, arguing before the court that the president needs to be able to remove officials in the agencies because “the President must have the power to control and…the one who has the power to remove is the one who…is the person that they have to fear and obey.”
The Trump administration will launch new investment accounts for children on July 4, with the initiative intended to boost the financial standing of millions of Americans under the age of 18. Dubbed “Trump Accounts” by the administration, the program will be available for children who do not turn 18 before the end of the calendar…
President Donald Trump said he thinks Elon Musk will donate SpaceX stock to the Trump accounts initiative, following other technology executives who have embraced the new investment vehicles for children.
