The Daily Factum
Deprogramming the News
Breaking News
Paul Krugman: Debunking the Alarm Over the US's $34 Trillion National Debt
Broke On: Saturday, 08 June 2024Nobel laureate Paul Krugman argues that the U.S.'s $34 trillion national debt, mostly owed domestically and in its own currency, is not cause for alarm. Historically high debt levels as a percentage of GDP are comparable to post-WWII U.S., lower than Japan and Britain's current debt burdens, yet didn't trigger crises. To stabilize the debt, Krugman suggests taxes could be increased or spending cut by 2.1% of GDP, a small adjustment not significantly impacting growth. Political dysfunction in Congress is identified as the major obstacle to addressing debt concerns. 
European Union Faces Potential Shift in Power: 2024 Parliament Elections Bring Hard-Right Parties to the Forefront
Broke On: Sunday, 09 June 2024Europeans in 27 member states voted in the European Parliament elections on June 9, 2024, with over 300 million participants shaping EU policies for the next five years. The European Parliament holds significant power, approving legislation and appointing the president of the European Commission. Hard-right parties were predicted to gain ground, potentially forcing compromises and risking centrist support. Nationalist and polarized politics influenced voting in countries like France, Italy, Austria, Belgium. For the first time, 16- and 17-year-olds were eligible to vote in Germany and Belgium. 
Boxing Star Ryan Garcia Arrested for Felony Vandalism at Waldorf Astoria: $15,000 in Damages
Broke On: Saturday, 08 June 2024Boxing star Ryan Garcia was arrested for felony vandalism at the Waldorf Astoria hotel in Beverly Hills, causing an estimated $15,000 in damage. Following reports from TMZ Sports and the police department, Garcia was taken into custody after damaging his room and a hallway while intoxicated. Released later, this incident occurs during a challenging time for Garcia as he deals with personal issues. 
Federal Reserve Decision Looms: Interest Rates and Stock Market Impact in Focus
Broke On: Friday, 07 June 2024The Federal Reserve is expected to update interest rate forecasts next week, with borrowing costs remaining unchanged for the seventh consecutive meeting. However, there's uncertainty regarding officials' rate projections. The FOMC meeting comes before the release of May's Consumer Price Index inflation report and a potential 86.3% chance of a Fed rate cut by Dec. 17-18, which could impact the stock market. Haiti's Prime Minister Garry Conille Hospitalized, Reason Unknown
Broke On: Sunday, 09 June 2024Newly appointed Haitian Prime Minister Garry Conille was hospitalized in Port-au-Prince, with no information given on the cause. Conille, who assumed office in late May after a contentious selection process, faces challenges quelling gang violence and preparing for a U.N.-backed police deployment. Previously serving as prime minister from 2011 to 2012 and working outside Haiti as UNICEF's regional director, Conille has been meeting with officials since his return. High-ranking figures like the National Police director and UNICEF representative were seen at the hospital where he is being treated. 
New York Jury's Trump Verdict: A Game Changer for 2024 Presidential Race?
Broke On: Friday, 07 June 2024A week after Donald Trump's guilty verdict for falsifying business records, his campaign saw a surge in fundraising and gained support from Republicans like Mitch McConnell. Democrats are divided on whether the conviction will help President Biden in November, while Yale Law Professor Jed Rubenfeld suggests a legal strategy to limit its impact on the 2024 presidential election. 
Caitlin Clark's Exclusion from US Olympics Basketball Team Sparks Controversy and Debate
Broke On: Saturday, 08 June 2024Caitlin Clark, the popular Iowa star and WNBA No. 1 draft pick, was unexpectedly left off the US Olympic basketball team due to concerns over her potential playing time on a stacked roster. Her absence has sparked controversy and debate, with some arguing that her impact on women's basketball and fan base outweighs any playing time concerns. 
2024 Stanley Cup Final Preview: Florida Panthers vs. Edmonton Oilers - Who Will Make History?
Broke On: Saturday, 08 June 2024In the 2024 Stanley Cup Final, the Florida Panthers and Edmonton Oilers face off for hockey's most prestigious trophy. The Panthers, seeking their first win, take on the Oilers, who last claimed victory in 1990. Led by stars Aleksander Barkov and Connor McDavid respectively, both teams aim to secure a place in hockey history. Game 1 airs on ABC/ESPN+ at 8 p.m. ET. 
Dornoch, Co-Owned by Retired MLB All-Star Jayson Werth, Wins Surprising Belmont Stakes Victory with Luis Saez
Broke On: Saturday, 08 June 2024Retired MLB All-Star Jayson Werth and trainer Danny Gargan's co-owned Dornoch shocked the racing world with a 17-1 upset win at the 2024 Belmont Stakes, held at Saratoga Springs due to renovations. With jockey Luis Saez aboard, Dornoch defeated favorite Sierra Leone by a length and a half, marking Gargan and Saez's first Triple Crown victories. 
Max Cancels Tokyo Vice After Two Seasons: A Surprising End to the Critically Acclaimed Crime Drama
Broke On: Saturday, 08 June 2024Max surprises fans by canceling Tokyo Vice after two critically acclaimed seasons, despite initial plans for a longer run. The crime drama, based on Jake Adelstein's memoir and starring Ansel Elgort and Ken Watanabe, received high praise with an 89% critics score and 92% audience rating on Rotten Tomatoes.