Saturday, August 2, 2025

The Truth Banishes Fear!

Elon Musk Slams Trump’s Spending Bill as An Abomination

The New Diplomat
Writer

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The Hidden Signals in Oil Markets

Asia’s oil demand is growing faster than major agencies forecast, led by India and Southeast Asia’s emerging economies. China is rapidly restructuring its supplier base, favoring Brazil while cutting ties with U.S. energy. Kazakhstan’s refining expansion and chronic overproduction raise major questions about its future in OPEC+. I’ve been following the oil market closely this…

Oil Falls Below $70 as Sentiment Sours

A poor U.S. jobs report led to a broader sell-off on Friday, with leading stock indices falling from record highs. Friday, August 1st, 2025 Buoyed by Trump’s Russia threats and news of Indian state refiners curbing purchases of Russian crude, crude oil futures have been trending above $70 per barrel throughout the week, settling on…

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  • Trump’s Aide: That Won’t Change the President’s Position

By Abiola Olawale

Tech billionaire Elon Musk has unleashed a scathing critique of United States President Donald Trump’s signature tax and spending bill, labeling it a “massive, outrageous, pork-filled Congressional spending bill” and a “disgusting abomination.”

Musk, the Tesla CEO, who recently stepped down from his role leading the Department of Government Efficiency (DOGE), expressed his frustration with the legislation, accusing it of ballooning the federal deficit and undermining efforts to streamline government spending.

Musk made this known on his official X handle on Tuesday. The bill, which Trump has championed as his “big, beautiful bill,” aims to cut $1.5 trillion in government spending. However, it also increases the debt limit by $4 trillion.

“I’m sorry, but I just can’t stand it anymore,” Musk wrote on X, adding, “Shame on those who voted for it: you know you did wrong.”

The White House, however, dismissed Musk’s criticism.
Press Secretary Karoline Leavitt stated during a briefing: “The president already knows where Elon Musk stood on this bill. It doesn’t change the president’s opinion: this is one big, beautiful bill, and he is sticking to it.”

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