Freedom Caucus rejects Speaker Johnson’s spending deal

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January 11, 2024

freedom-caucus-rejects-speaker-johnson’s-spending-deal — Freedom Caucus rejects Speaker Johnson’s spending deal

Freedom Caucus members have expressed frustration over the bipartisan government spending deal brokered by Speaker Mike Johnson.

The $1.59 trillion budget agreement, labeled as “bogus,” “terrible,” “bloated,” and “wasteful,” drew ire from the Freedom Caucus members.

Johnson and Senate Majority Leader Chuck Schumer led the negotiations. The deal, hailed as a step to avert a government shutdown, faced criticism from the Freedom Caucus for not achieving significant budget cuts.

Schumer highlighted that Democrats preserved nondefense spending at $772 billion, the same figure agreed upon with Biden and former Speaker Kevin McCarthy last year. He emphasized protecting priorities like housing programs, veterans benefits, healthcare, nutrition programs, small business support, and funding for federal law enforcement.

What’s the House Majority for?

Despite claims of victory from Johnson, Democrats downplayed the significance of $10 billion in accelerated IRS funding cuts, stressing that new tools to audit the wealthy would remain in place.

Rep. Good expressed disappointment with settling for Democrat-approved caps and questioned the impact of having a House majority.

Johnson’s questionable negotiation skills

Other members, like Norman and Roy, voiced strong opposition to the spending deal, with Norman calling it a “near total abdication” of Speaker Johnson’s responsibilities.

Rosendale criticized the concessions made by Democrats and insisted on securing the border before approving any government funding bills.

Former Trump budget chief Russ Vought, an advisor to the Freedom Caucus, criticized Johnson’s negotiation skills on social media, stating that “lettuce could have negotiated a better deal.”

Freedom Caucus facing challenges

The Freedom Caucus, adamant about spending cuts and securing the border, faces both challenges and criticisms in rallying support for their stance. Rosendale emphasized the need to use every available tool to address what he called a “never-before-seen security crisis,” even suggesting the possibility of shutting down Washington to achieve border security goals.

Gen Z’s “soft saving” financial philosophy “makes the most of life now than waiting till retirement”

By

Mary Alavanza

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January 10, 2024

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Young beautiful chinese woman wearing casual sweater smiling cheerful offering palm hand giving assistance and acceptance. — Photo: Freepik/krakenimages.com (for illustrations purposes only)

SINGAPORE: A financial paradigm shift among younger generations, including Singaporeans, specifically Generation Z, is the practice of “soft saving”, which is their financial philosophy to “make the most of life whilst they’re young and fit, rather than waiting till retirement.”

In a departure from the conventional approach of planning for financial milestones or retirement, Gen Zs are “reallocating their hard-earned income to improve their immediate quality of life.”

What is Soft Saving?

According to MoneySmart, this financial philosophy, known as “soft life,” challenges the traditional wisdom of saving for retirement and property, reflecting a desire to “make the most of the present.”

Soft saving focuses more on travelling and immersing in new experiences, personal development, wellness and mental health.

What’s the Difference between Soft Saving and Hard Saving?

The difference between soft saving and hard saving lies in their focus and approach.

Hard saving is the traditional method of saving for significant life events such as retirement, property, and other long-term goals.

On the other hand, soft saving prioritises savouring life in the present, nurturing mental health, and personal development.

While hard saving aims for a secure future, soft saving seeks to provide immediate satisfaction and motivation.

Why do Gen Zs “Soft Save”?

Travel Agent Central reports that 62% of Gen Z are working and saving for travel, and 69% prefer affordable choices but are okay with treating themselves now and then.

Gen Z’s inclination towards soft saving is shaped by their unique experiences, including the impact of the 2008 financial crisis and the uncertainties brought about by the global pandemic.

Witnessing their parents’ struggles during these economic downturns and the burden of student loans has influenced Gen Z to question the traditional approach to financial security.

Social media platforms like TikTok and Instagram further reinforce the belief that spending on experiences contributing to joy and mental well-being is acceptable, prompting a departure from the hard-saving mindset.

How Does Soft Saving Work Long-Term?

While soft saving is often associated with immediate gratification, its long-term sustainability is a crucial consideration. To ensure the effectiveness of soft saving as a long-term strategy, one must strike a balance between immediate gratification and future needs.

As per MoneySmart, soft saving can work long-term when you:

Practice Mindful Spending: Be aware of where your money goes. Ensure it reflects your values and positively contributes to your well-being, avoiding unnecessary stress.
Commit to Regular Saving: Set aside a portion of your earnings consistently for the future. This includes planning for retirement and creating an emergency fund for unexpected situations.
Diversify Investments: Spread your money across different assets. This helps generate extra income and grow your wealth over time, making your soft saving journey more manageable.
Implement Budgeting: Create a budget to control your spending. Ensure there’s enough for essentials and leave room for enjoyment without draining your wallet.
Prioritize Financial Education: Keep educating yourself about money management. The more you know, the better your decisions will be
Engage with Financial Advisers: Seek professional advice. They can offer tailored strategies, helping you balance soft savings with traditional savings to keep your finances in check.

Gen Zs are “rewriting the narrative.” Perhaps “labour till you’re approximately 65” may not be the only way to a fulfilling retirement after all. /TISG

Elon Musk claims Arizona not asking for proof of citizenship for illegals who vote

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Asir F

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January 10, 2024

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elon-musk-claims-arizona-not-asking-for-proof-of-citizenship-for-illegals-who-vote — Elon Musk claims Arizona not asking for proof of citizenship for illegals who vote

There are several claims made about the upcoming 2024 elections by both the liberals and conservatives. On one hand, the liberals are trying their level hardest to have Trump arrested, and the conservatives are saying that illegals are allowed to vote in woke states. Elon Musk apparently claims that Arizona states that no proof of citizenship is required to vote.

According to AZCentral, Elon Musk’s tweet hints at voter irregularities in Arizona, prompting MAGA uproar, alleging Democrats’ immigrant-driven voter inflow. Kari Lake joins, condemning voter registration maneuvers. A photo implicates Secretary of State Adrian Fontes in alleged tactics.

Following that, clarifying Musk’s misconception, federal elections don’t mandate citizenship proof. But Arizona, unique, demands it for state ballots. County Recorder Stephen Richer sets the record straight: Arizona’s the sole state requiring proof. Yet Musk’s outreach eclipses this truth, fueling skepticism.

Despite evidence revealing a minuscule impact on elections, Musk’s musings persist. Followers echo, fearing a phantom voter invasion. As reality debunks misinformation, the truth struggles to pierce Musk’s wide-reaching narrative. The fallout? Heightened mistrust in Arizona’s electoral system.

X users react to Elon Musk’s claims

Voter Id is racist but it’s okay to ask for vaccine verification

— Woke Logic

— The Rabbit Hole (@TheRabbitHole84) January 9, 2024

Some users are criticising the woke ideology where asking a voter for their voter ID is problematic, but at the same time, asking someone if they’re vaccinated, it’s alright. However, the bottom line is that the state of Arizona would still require the individual to be an American citizen to vote for the general election.

What’s is a lie? The law? Or the fact that the liberals want it to be as easy as possible for non-citizens to vote? Both are true. Feel free to prove me wrong..

— Crypto_MDMA (@realcrypto_mdma) January 9, 2024

Liberals are calling Elon Musk a “liar” and that his audience would be gullible enough to believe whatever he says. Despite this, conservatives are firm that this is the end goal of the liberals, which is allowing illegals to vote in the United States.

Ted Kennedy allegedly told Trump that Biden was the “dumbest” senator

By

Asir F

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January 10, 2024

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ted-kennedy-allegedly-told-trump-that-biden-was-the-“dumbest”-senator — Ted Kennedy allegedly told Trump that Biden was the “dumbest” senator

Americans are obviously tired with Biden’s rule of America after bringing in large quantities of illegals into the country. This is also coupled with the failure of Bidenomics towards the American people. A video surfaced on X with Trump claiming that Ted Kennedy was allegedly telling him that Joe Biden was the “dumbest” senator.

Brietbart states, Donald Trump reveals Joe Biden was deemed ‘dumbest’ by Ted Kennedy and Senate peers, criticizing Biden’s vicious circle and lack of intelligence. He accuses Biden’s radical left entourage of potential self-destruction, while underlining Kennedy’s testimony on Biden’s incapacity for complex policy comprehension.

Trump, pointing out Biden’s public ‘nice’ image, echoes Kennedy’s assertion of Biden’s lack of understanding on intricate issues. Trump further condemns leftist influence on Biden, steering the country and utilizing law enforcement as weapons.

Ted Kennedy: Biden is the “dumbest” senator

Proof that in the swamp, the media is highly responsible for electing our Politicians and Presidents. That and other dirty politicians and elitists- not the people. We have to fix voter integrity.

— Shannon I stand with America (@thewriterme) July 16, 2023

Many conservatives are upset at hearing this as they feel the media is controlling the entire electoral game. Furthermore, X users feel that the voters should be knowledgeable and informative about their respective candidates to make an appropriate decision.

pic.twitter.com/HGtEn3c5p9

— Mark Proteau (@MarkProteau) December 7, 2023

A video clip on X shows Trump making the claim that Ted Kennedy informed him of Biden’s intelligence. However, liberals are vehemently unhappy with the statement and proceed to post people accusing Trump of being “unintelligent.”

For decades

— Patriot Nola (@NolaCookPatriot) January 10, 2024

Conservatives on the other hand agree with what Ted Kennedy allegedly said. They state that after almost 4 years of having Biden as their President, he has done a colossal amount of errors and mistakes that are costing America a pretty penny.

Read More News

Court of Appeals rejects Trump’s immunity plea

The post Ted Kennedy allegedly told Trump that Biden was the “dumbest” senator appeared first on The Independent News.

Eatery menu shows food prices up by 20%, even 25% — S’porean says it’s the “real world effect of 1% GST”

By

Anna Maria Romero

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January 10, 2024

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Screenshot 2024-01-10 at 12.35.14 PM — Photo: Reddit screengrab/u/khaizersozay

SINGAPORE: A local Reddit user posted the prices from a local eatery showing the “real world effect” of the Goods & Services Tax hike. While the GST went up by one per cent from Jan 1, 2024, on the ground, prices have increased at much higher rates.

u/khaizersozay posted the menu of Ponggol Nasi Lemak from 2022 when GST was at seven per cent, and one from 2023 when it was at eight per cent, as well as the one from this year at 9 per cent.

“Someone do the math,” the post author wrote.

The menus show that prices have definitely gone up, especially from last year to this. For example, French Bean, which used to be S$1.20 is now S$1.50, a 25 per cent increase. An egg, which was S$1.00 is now S$1.20, a 20 per cent markup.

u/khaizersozay’s post has gotten a lot of attention, with many commenters weighing in, as some have noticed this type of price increases in a multiple places.

“The 7-11 muffin, from $2 to $2.20. Nasi lemak near home $3.5 to 3.8. 1% vs 10% up. Zero effort 9% profit,” wrote one.

Others worried that salary increases are not coming at the same pace as price increases. “How many of us get 10% salary increase? Maybe only the ministers,” one opined.

“Is this the ripple impact of a GST increase, or is it greedflation? Cos there’s a whole lot of the latter going on in all kinds of industries,” another chimed in.

Some, however, wrote that other factors are also in play, such as higher rental, fuel, and insurance prices, as well as more expensive ingredients.

“I argue that price increase by 1-2% was an unrealistic expectation, especially for end-users,” wrote another, adding, “It’s ‘impossible’ to raise price by just 1-2%, e.g. for a bag of fishballs it’s increased in price by about 10-20c. Noodles also increase price, ketchup increase price, soy sauce increase price. So your bowl of fishball noodles is the cumulative product of every price increase further up the supply chain.”

In a Facebook post on Tuesday (Jan 9), Workers’ Party MP Jamus Lim touched on the topic as well, writing:

“Many of those we spoke to mentioned hikes that went far beyond the one percent GST increase (jumps seem to range in the tens of cents, rather than single digits, as might be implied by a 1 percent rise), as merchants took the opportunity to revise prices more generally, across the board.”

However, some of the points Assoc Prof Lim raised in his post were rebutted by Senior Minister of State for Finance Chee Hong Tat on Wednesday (Jan 10) in a Facebook post of his own.

Mr Chee wrote that the WP MP “should provide details of these merchants to the (Committee Against Profiteering) CAP, so that it can investigate and take action against any errant businesses seeking to profiteer from the GST increase.” /TISG

Rosamund Pike wore veil to Golden Globes after ‘smashing up’ her face in skiing accident

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The Independent

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January 10, 2024

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rosamund-pike-wore-veil-to-golden-globes-after-‘smashing-up’-her-face-in-skiing-accident — Rosamund Pike wore veil to Golden Globes after ‘smashing up’ her face in skiing accident

Rosamund Pike made a stunning appearance at the Golden Globes wearing a vintage Dior gown adorned with lace and embellished netting, along with an unusual lace-fascinator by Philip Treacy featuring a gauzy veil.

However, Pike disclosed that the veil wasn’t just a fashion statement; it was a necessary accessory following a skiing accident during the Christmas holidays.

In a conversation with Variety on the red carpet, Pike humorously likened her ensemble to having a “weird funeral vibe” and explained the veil as a “protective veil” due to her recent skiing mishap.

Her face had been significantly injured on December 26th, prompting her to seek a solution before attending the Golden Globes on January 7th.

While Pike confirmed her facial recovery, she still required the protective layer. Surprisingly, she found herself embracing the unique look, stating that she “kind of fell in love with the look.”

Pike lost Golden Globe award to Da’Vine Joy Randolph

Nominated for her role as Lady Elspeth Catton in “Saltburn,” Pike lost the award to Da’Vine Joy Randolph from “The Holdovers.” Despite this, Pike’s character in “Saltburn,” known for delivering sharp and blunt remarks, particularly resonated with viewers.

Pike shared improvised lines, cut from the show, where her character addressed sensitive topics with stark honesty, showcasing Elspeth’s tactless yet memorable dialogue.

Reflecting on her portrayal of Elspeth, Pike acknowledged her surprising ability to embody the character, stating, “I wasn’t normally a great improviser, but with Elspeth, somehow, I could just sort of hear her. I knew who she was.”

Getting entangled with Natalie Portman

In other related news, Natalie Portman and Rosamund Pike faced a wardrobe mishap at the 2024 Golden Globe Awards, as their dresses got entangled multiple times during the star-studded event.

Portman, in an embroidered Dior Haute Couture gown with a vibrant floral design, posted about the incident on her Instagram Story. She attended as a nominee for “May December,” a film inspired by Mary Kay Letourneau’s case, losing the award to Emma Stone, who dedicated it to her husband, Dave McCary. Pike, involved in the dress snag, featured in the story shared by Portman during the event.

“You live in Geylang; your husband will get slashed hor” — Mum warns daughter about SG’s “unsafe place”

By

Yoko Nicole

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January 10, 2024

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geylangresized — Youtube Screengrab/Geylang, Singapore

SINGAPORE: A Singaporean married woman in her mid-30s took to social media to ask whether Geylang was generally safe for young families.

She heard her mom say, “wah if you live in Geylang then you cannot come home late.. so unsafe, you will get assaulted and your husband will get slashed hor. Is Geylang really still an unsafe place, in general? Has anyone had any sketchy experiences in the recent years?” she wrote.

The woman explained that she and her husband had been looking for apartments to buy, but since the home prices were “crazy,” she said it’s been rough finding something within their budget.

“We saw a few condo units in Geylang (such as Tre Residences) going for pretty good prices. My husband, being a foreigner, is completely okay with living in Geylang and can’t understand why it’s so affordable despite it being so close to town,” u/cakebitxh89 wrote on r/askSingapore on Jan 10.

However, as a local, she’s been “hardcore dissuaded” by her parents to live in Geylang, and growing up, she’s also heard people talk about how dangerous Geylang is.

SG Redditors suggest Geylang is safe

One Redditor who lived in Lorong 14 Geylang for several years said that “it was safe to walk out alone in the brightly lighted areas when the streets are not empty. I have never been harassed or stopped, probably, because the business-men and business ladies are able to “sense” if you are a local in search of fun or food.”

Another Redditor also offered an explanation of why the condos are relatively cheaper.

“Location wise its not on the geylang lorong side so its pretty okay. Why is it so affordable is because of the size of the unit, the newer condos 3 bedrooms are 94x to 98x for non yard layout. Those with yard are typically 10xx sqft.”

Yet another SG Redditor also said that the area is not dangerous, but because people “always had the stigma,” they chose not to live there and added that “a lot of the smaller boutique condos there have a lot of sketchy people living there. No danger, but vice.”

Pros and cons of living in Geylang

Given that Geylang is Singapore’s only red-light district, many locals view it as “dangerous.” The neighbourhood, which occupies an area of less than 10 square kilometres, is notorious for its long line of brothels and street prostitutes.

Pros

Geylang’s reputation has slowly been overturned in recent years.

Today, the area is surrounded by nine police stations and is routinely patrolled. It’s also well-known for its cleanliness and well-kept facilities, as government officials regularly inspect it.

In addition, Geylang neighbourhoods are said to rarely have conflicts, even though many Singaporeans view them as seedy.

Cons

Even though Geylang’s image has improved, some illegal activities still remain in the area.

The Straits Times revealed in December 2023 that following many raids in Geylang, 18 males and 12 women, ages 24 to 65, were being investigated for various offences.

Police reportedly found 45g of crystal methamphetamine along with unregistered health goods like cough syrup and alleged intimate physical enhancement products.

What was it like living in Geylang

An article published by 99.co featured Malaysian Marcos Teng, who shared what it was like to live in Singapore’s sole red light district. He rented a place at Geylang Lorong 18 to 20.

According to Teng, Geylang was way friendlier than Tampines (a location he also lived in at one point). He said that during his time in Geylang, he gained 4 kilos in one year, as people always tried to sell him food. Teng also noted that food was readily available in that area “for almost around the clock.”

Teng recounted that the fights in the area often involve “drunk individuals” and not actual “gang members.” He also pointed out that the real vice in the area was not prostitution but “illegal cigarette sellers.”

SuperAI’s global debut in Singapore: Asia’s premier Artificial Intelligence conference

By

Mary Alavanza

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January 10, 2024

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people-generating-images-using-artificial-intelligence-laptop — Freepik (for illustration purposes only)

SINGAPORE: Asia’s premier artificial intelligence (AI) conference, SuperAI, is set to make its global debut in Singapore, according to a news release from PR Newswire.

The event is scheduled at the Marina Bay Sands from June 5 to June 6, 2024. SuperAI aims to bring together industry leaders, heads of state, entrepreneurs, researchers, and AI enthusiasts for an insightful exploration of the rapidly evolving AI landscape.

SuperAI’s inaugural edition is expected to draw 5,000 attendees during Singapore AI Week, which will run from June 3 to 9. The week will feature various events such as:

meet-ups
workshops
hackathons
and exclusive networking opportunities

The city-state is set to play host to diverse professionals and luminaries, establishing itself as a hub for the brightest minds in AI.

As AI continues to shape the future of society, SuperAI promises in-depth discussions on key industry topics. These include the intersection of AI in finance and healthcare, generative AI, robotics, and the ethics surrounding AI.

The event’s agenda covers a holistic perspective on the future of the AI industry, featuring keynote presentations, panel discussions, live demonstrations, and networking sessions.

Co-Founder of SuperAI, Alex Fiskum, expressed excitement about the event’s launch in Singapore, stating:

“We are incredibly excited to launch the first edition of SuperAI in Singapore, a global hub for innovation and a natural catalyst for the advancement of AI.

Going into 2024, we have seen a surge in global event interest, with internationals accounting for over 60% of our registrations to date.

SuperAI will boast a dynamic participation mix, from early-stage AI pioneers, to established business and industry leaders, all eager to explore the transformative potential of AI.”

He added, “SuperAI promises to be the most significant AI gathering in Asia this year, bridging the AI communities of both the eastern and western hemispheres. We couldn’t be more excited to bring the global AI industry to Singapore.”

As per PR Newswire, SuperAI’s first round of speakers include notable figures such as:

Whistleblower Edward Snowden
Angel investor Balaji Srinivasan
Analyst Benedict Evans
Co-founder and CEO of Real Vision Raoul Pal
Humanoid robot from Hanson Robotics, Sophia
Founder and CEO of Singularity Net, Ben Goertzel

/TISG

OCBC prices $450M perpetual capital securities; first callable set for 2029

By

Mary Alavanza

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January 10, 2024

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56289389_2309678475984113_5096923512199708672_n — Photo: FB screengrab/pages/OCBC-Singapore/157042647685515

SINGAPORE: Oversea-Chinese Banking Corporation, OCBC, prices S$450 million perpetual capital securities under its global medium-term note programme, which has a total value of S$39.95 billion (US$30 billion), The Edge Singapore reports.

The notes come with a coupon rate of 4.05% per annum (p.a.) and are subject to redemption conditions. The first callable date is set for 2029, with the option for redemption on Oct 16, 2029, or any distribution payment date post the first reset date.

Conditions for redemption include a tax event or the capital securities no longer qualifying as eligible capital.

In the event the securities are not redeemed on the first reset date, the distribution rate will be reset every five years thereafter. The reset rate will be a fixed per annum, comprising the aggregate of the prevailing five-year Singapore Overnight Rate Average overnight indexed swap (SORA-OIS) and the initial spread of 1.3165%.

Distributions may be cancelled at the bank’s discretion, adhering to the provisions outlined in the securities.

The objective of these securities is to serve as additional tier 1 (AT1) capital in compliance with the Monetary Authority of Singapore’s (MAS) requirements.

According to Basel III regulations, if OCBC is deemed non-viable by MAS, the securities may be wholly or partially written off.

Proceeds from this issuance, totalling S$450 million, are for general corporate purposes.

OCBC is acting as the sole lead manager and bookrunner for this offering. The notes are to be issued on Jan 16, 2024.

The Edge Singapore states, “The notes are expected to be rated Baa1 by Moody’s Investors Service, BBB- by Standard & Poor’s Rating Services and BBB+ by Fitch Ratings.”

OCBC shares are at S$12.83 as of 5:04 p.m. SGT./TISG

X platform suspends progressive influencers Klippenstein and Monacelli

By

Gemma Iso

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January 10, 2024

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x-platform-suspends-progressive-influencers-klippenstein-and-monacelli — X platform suspends progressive influencers Klippenstein and Monacelli

Well-known journalists and progressive influencers were suspended from Elon Musk’s X platform, raising eyebrows and questions about the boundaries of free speech and moderation policies. Among those affected were Ken Klippenstein, an investigative journalist associated with The Intercept, and Steven Monacelli, a reporter for the Texas Observer.

While the accounts were seemingly reinstated a few hours later, the lack of clear explanations left the impacted users perplexed.

X platform suspended accounts

Monacelli, speaking to The Messenger, expressed his bewilderment, saying, “I woke up and had missed a call from a journalist who wanted to talk to me about my suspension. So, I was informed via other journalists who had called and emailed me this morning about it.”

Podcast host Rob Rousseau’s account and the TrueAnon podcast account were also temporarily suspended, adding to the growing list of affected users.

In addition to journalists, some influencers reported similar suspensions. @Zei_squirrel, an X user, took to Instagram to express confusion about the ban, speculating that posts critical of Israel and hedge fund manager Bill Ackman might be the cause.

No explanations whatsoever?

The specific rules violated by the suspended accounts remain unclear, and the X platform has yet to respond to inquiries seeking clarification.

Interestingly, Monacelli highlighted a Texas law prohibiting social media companies from banning users based on their political viewpoints, raising questions about the potential legal implications of the suspensions.

“I would certainly be interested in hearing from people who are First Amendment lawyers about how that might apply if they don’t provide some legitimate and well-documented reason for my suspension.”

As debates around free speech, moderation policies, and corporate influence on online discourse intensify, the X platform’s recent actions have thrust these issues back into the spotlight.

Users, influencers, and journalists are left grappling with uncertainty in the evolving landscape of digital expression.

What’s the House Majority for?

Johnson’s questionable negotiation skills

Freedom Caucus facing challenges

What is Soft Saving?

What’s the Difference between Soft Saving and Hard Saving?

Why do Gen Zs “Soft Save”?

How Does Soft Saving Work Long-Term?

X users react to Elon Musk’s claims

Read More News

Ted Kennedy: Biden is the “dumbest” senator

Pike lost Golden Globe award to Da’Vine Joy Randolph

Getting entangled with Natalie Portman

SG Redditors suggest Geylang is safe

Pros and cons of living in Geylang

Pros

Cons

What was it like living in Geylang

X platform suspended accounts

No explanations whatsoever?

Singapore News

Business

Singapore Politics