I don't know if the US was really that much better before this, but perhaps just better hidden and less open about it happening. Congress has been knee deep is insider trading for decades and I think it would be naive to think it isn't even more prevalent among their friends and wealthy network.
We're going to take the "both sides bad" intellectual dishonesty to the forced labor Freedom Trump camps. But hey! Kamala would've done the same. God I despise the likes of you so much.
From an external point of view, one side is at least trying. Ranked choice voting, "no corporate money in politics" and other initiative like this, to add more democracy, suddenly come out on my news feed and each time i say to myself "it won't work right now, but at least it seems those are steps in the correct direction". Supporting the people who run on those platform is infinitely better than a destructive nihilism.
One side is trying to destroy America, the other is sitting by and prioritising maintaining decorum and insider trading off the destruction of America that's already happening. I don't know who's running on the platform you just said.
Does raise the question of whether this also comes with free immunity from prosecution, or whether the NYAG should just pre-emptively say that anyone signing up for this and trading on the results will be prosecuted under NY state law.
If you want law and policing to work, it needs to be very predictable for everyone. So yes, if there is the least bit of doubt, the NYAG should absolutely say, far in advance, that this will happen.
Because if this isn't the case, then people will be forced to compete by "slightly" violating the law, everyone a little bit more, until the law is a total joke. This has happened in history.
I mean Congress or SCOTUS could restrict his powers but they don't want to. How do you even go about fixing that? And is it really that uncommon when president, congress and supreme court is controlled by same party?
I have a feeling the only new element is that the same can be now said for media.
When you get older, eventually you see the pattern. Political parties, whatever their viewpoints, are tolerated as long as they improve economic outcomes fast enough. When that even just slows down, there is some tolerance, but not much.
I don't know why this is downvoted, this is the entire basis of China being politically stable despite being unfree.
The problem is trying to untangle which are the economic indicators that matter and what the causality is. Despite everything, the stock market is at or near an all time high (mostly due to AI), and that grants Trump a lot of leeway from the money class.
Oil prices going up would probably also be extremely unfavourable for the Trump regime. So simply empty the US SPR onto the market to keep prices down and avoid the Iran war having any impact. Should last for the rest of his term.
Literally the reason people voted for Hitler was that the German economy was in the shitter and he promised to fix it, with completely illogical promises similar to Trump's.
Not sure what "average corporate person" means, but if you're just a random dude and you trade on your golf buddies tips, no one is going to throw you in jail. Very few people get charged a year, like dozens. I'm sure >99.9% of get away with it. I think it's often political or targeted.
The weirdness here comes from the president owning a social media company. I think they're playing up how markets move on their posts for obvious reasons. But social media companies likely sell priority access. They're called enterprise licensing deals. Same with news media, like Bloomberg, Dow, Reuters.
This isn't "insider trading" its publicly available information. The idea that the "little guy" is somehow screwed over by this is just silly.
I miss Obama. A president that could actually deliver a decent speech and actually bothered to be a politician.
A politician should do TWO things: get elected, and convince the electorate about a path forward, including any compromises needed. Obama is the last president that actually did that. As we all know. Trump just doesn't even bother. And before anyone else points this out: yes, I kind of agree, Biden didn't either. Democrats are their own worst enemy, just like republicans are.
This creates an incentive to post things that cause high volatility (even in the downward direction) as that creates a "subscribe if you want early warning of market dips" pressure factor.
Maybe we can keep going to a point where it's so ridiculous that people realise the financial markets are the useless money laundering loop that they actually are
It's bonkers that we have a private company that does things for other private companies being somehow the back-bone of every nation on the planet.....
The supply of food is absolutely critical to a human population, even if truckloads of fish are left to rot in the sun outside schools?
The supply of mineral and energy resources is absolutely critical to an industrial economy, even if rivers are polluted to the point they catch fire ala the Cuyahoga River Fire of 1969?
I suspect it's worth the effort to minimise and prosecute the corruption, waste, and harmful externalities.
You don’t have the info “before everyone else”. You have it after the ones who are guaranteed to benefit from knowing it and/or from disseminating it. Whether you can benefit from it or are the mark is debatable.
The issue is the conflict of interest in POTUS' office. A news agency giving high speed access to news ostensibly just reports news, doesn't make them. The office of the POTUS literally makes the news, even more so today than in the past.
The markets are very headline driven these days because Trump is a prolific poster and is highly unpredictable. This is basically him selling preferential access to market moves that he himself generates.
It's truly an unprecedented level of grifting happening.
The epstein-guest-pedo-leader of the "claim-to-be-leader-nation" monetize billion in crypto, poorly chineese manufactured phone and sells access to own market-manipulation-intended-texts. It's so much bad stuff that poor people don't even know how to start battling with it...
The music on this sinking ship will keep playing till the very end. It's a decline. There is no observable way up from this point.
And then what? You get a lame duck, then (if you're really lucky) a 4 year dems gov where they basically do basically nothing expect try to clean (or bury) the most outrageous cases of corruption and then once the MAGAs get elected again you're back at the beginning?
> The new commercial data feed, named Truth API, promises to deliver posts to paying institutional clients in "milliseconds".
...
> The company, which launched its social media app in 2022, said some firms have been copying its data for months without permission.
> McGurn warned that Trump Media will soon block these methods, forcing firms to buy the official feed instead.
This looks like it is monetizing and organizing scrapers. Isn't basically everyone doing this with data feeds these days?
At best this just gives a few milliseconds head start to subscribers and cracks down on automation. I would be shocked if NYSE, etc. don't already have premium tiers with faster market data and those feeds are certainly paid APIs. It's known that HFT shops will co-locate, for example, to have low latency.
This looks really bad, but if it were X and not Truth Social, there wouldn't be anything to see. It goes to the underlying issue of Trump owning and trying to profit from Truth Social generally.
There is literally nothing else of value on Truth Social except the president's posts. And those are considered official government communications. There's a legal ruling about that from the time of the first Trump administration.
So the US president has created a wrapper corporation that sells early access to official government communications. It doesn't matter if it's only milliseconds, that's enough for trading systems to make money.
It’s wild how banana republic level corrupt the US is all of a sudden. Really went from 0 to 100 in months
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