Doomscroll News

  • Reforming Individual Income Taxes: A Focused Approach (Part I of a BBB Critique)

    The current discourse around individual income taxes is cluttered with temporary fixes, unpopular mandates, and provisions that miss the mark for many Americans. Instead of a sprawling bill, a more focused approach is needed, prioritizing permanent, common-sense changes while jettisoning controversial or ineffective measures. Here’s a look at what such a refined individual income tax bill should, and shouldn’t, include.

    Core Tax Provisions: Stability and Simplicity

    At the heart of a sensible tax reform should be the permanent extension of several key provisions initially from the Tax Cuts and Jobs Act (TCJA). This includes making permanent the modified individual income tax rates, the increased standard deduction, and the termination of personal exemptions. These measures offer a baseline of stability for taxpayers.

    However, the idea of a temporary enhancement to the standard deduction, proposed for taxable years 2025-2028, should be rejected. Such short-term measures are often gimmicks, creating fiscal uncertainty and providing future leverage for increased government spending without addressing the immediate need for significant fiscal discipline now.

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  • Honey, JPM Shrunk the Collateral: Betting on Crypto ETFs Like It’s Not 2008 Anew

    Honey, JPM Shrunk the Collateral: Betting on Crypto ETFs Like It’s Not 2008 Anew

    JPMorgan Chase’s recent decision to allow trading and wealth management clients to use crypto Exchange Traded Funds (ETFs) as collateral for loans is a concerning development that introduces multiple layers of risk. This move, starting with BlackRock’s iShares Bitcoin Trust, integrates a volatile and complex asset class into traditional lending practices, which will have significant negative consequences.

    Custody and Ownership Concerns: “Not Your Keys, Not Your Crypto”

    A primary concern with crypto ETFs is the nature of ownership and custody.

    Lack of Direct Ownership: When investing in a crypto ETF, individuals do not own the underlying cryptocurrency directly (Investopedia). Instead, they own shares of a fund that holds the crypto. This means investors cannot take custody of their share of the crypto assets; they can only trade the ETF shares.

    Reliance on Custodians: Crypto ETFs depend on custodians to safeguard the underlying digital assets. This reliance introduces significant risks:

    Single Point of Failure: Crypto ETFs rely on custodians, such as Coinbase, which holds a significant percentage of Bitcoin for these ETFs. This concentration is concerning, as any major operational issue, security breach, or insolvency at the custodians will have disastrous consequences for the ETFs and their investors.

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  • Federal Reserve Notes vs. United States Notes

    Federal Reserve Notes vs. United States Notes

    United States Notes differed from the later Federal Reserve Notes primarily in their issuing authority and initial backing.

    How United States Notes Initially Worked: United States Notes were first authorized by the First Legal Tender Act in 1862 during the Civil War. They were issued directly by the U.S. Treasury to pay for war expenses and other government obligations. This meant the government itself was putting this money into circulation, essentially as a “bill of credit,” without involving lending or borrowing from a central bank. Initially, these notes, popularly known as “greenbacks,” were a form of fiat currency, meaning their value was based on government decree rather than being backed by a specific commodity like gold or silver that could be redeemed on demand. However, later, some United States Notes were redeemable for precious metal after the specie resumption of 1879. The early notes carried an obligation stating they were legal tender for all debts, public and private, except for duties on imports and interest on the public debt.

    A Silver Certificate
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  • Shopify & The Fentanyl Bank Rot

    Shopify & The Fentanyl Bank Rot

    TD Bank, a major Canadian financial institution potentially among Shopify’s banking partners, faces a massive scandal. In early 2024, public reports revealed that TD Bank is under U.S. federal investigation, including by the Department of Justice, for its alleged role in laundering hundreds of millions of dollars in illicit fentanyl profits and other drug money through its U.S. branches. Chinese crime groups and drug traffickers reportedly used TD to launder money from U.S. fentanyl sales. As a consequence, TD Bank pleaded guilty to conspiracy to commit money laundering and agreed to pay approximately $3 billion in a settlement. This situation stemmed from “chronic failures” in its anti-money laundering (AML) program, which allowed criminal enterprises to flourish. The Financial Crimes Enforcement Network (FinCEN) assessed a record $1.3 billion penalty against TD Bank for these Bank Secrecy Act violations.

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  • Digital Enclaves or Inclusive Communities? The Societal and Legal Implications of Match Group’s Niche Dating Portfolio

    Digital Enclaves or Inclusive Communities? The Societal and Legal Implications of Match Group’s Niche Dating Portfolio

    David’s Note: This article was substantially revised on October 11, 2025 to incorporate new research and provide a more comprehensive analysis.

    Executive Summary

    This report examines the societal and legal implications of niche dating applications. These apps are operated by Match Group’s subsidiary, Affinity Apps, LLC. The portfolio includes platforms like Chispa (Latino), BLK (Black), and Upward (Christian). A violent crime facilitated through the Chispa app prompted this analysis.¹ It investigates whether these demographically-targeted platforms contribute to the exclusion of non-denominational white individuals from the dating pool.

    The core finding is that these niche applications are not a primary driver of exclusion against the majority demographic. Instead, they are a market response to pre-existing exclusionary dynamics on mainstream dating platforms. These dynamics and racial hierarchies are well-documented. They systematically privilege white users and disadvantage certain minority groups.² These apps function as digital enclaves. They provide necessary and affirming spaces for communities that face discrimination elsewhere.³

    However, the report also finds that the architecture of these platforms creates powerful feedback loops. This architecture relies on user-controlled and algorithmic filtering. These loops risk amplifying human biases and reinforcing social segregation.⁴ This business model is predicated on sorting users by protected characteristics like race and religion. This places Match Group in a precarious legal position. This is particularly true as the debate over whether dating apps constitute “places of public accommodation” under anti-discrimination law evolves.⁵

    The report provides key recommendations for both Match Group and policymakers. It advises Match Group to enhance user safety, increase algorithmic transparency, and conduct an ethical review of its filtering policies. It urges policymakers to resolve the legal ambiguity surrounding digital public accommodations. They should also develop frameworks for algorithmic accountability. This would hold platform companies responsible for the discriminatory outcomes of their technology.

    The report concludes that the central challenge is not a phantom threat of exclusion. It is about balancing the human need for affinity with the broader societal goal of integration.

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  • America’s Solar Achilles’ Heel: BRICS’ Dominance and the Path to Energy Insecurity

    America’s Solar Achilles’ Heel: BRICS’ Dominance and the Path to Energy Insecurity

    Here are key problems with relying heavily on solar energy, particularly when facing a dominant manufacturing bloc like BRICS:

    1. The BRICS’ Leverage (Supply Chain Manipulation): With BRICS, and overwhelmingly China, controlling over 80% of all solar panel manufacturing stages (and nearing 95% for crucial upstream components like polysilicon and wafers), they hold immense leverage. They can strategically restrict the export of panels, components, or raw materials, effectively throttling another nation’s ability to build, maintain, or repair its solar infrastructure. This creates a powerful tool for geopolitical pressure.
    2. Cost Competitiveness (Exploitable Dependency): China is the most cost-competitive location for manufacturing all solar PV components due to massive state investment and economies of scale. This makes it difficult for other nations to establish their own fully competitive domestic supply chains. BRICS could exploit this by manipulating prices—either by gouging during periods of high demand or undercutting nascent industries in other countries to maintain their dominance, making a dependent nation’s solar ambitions economically unviable or perpetually reliant.
    3. Quality Control Weaponization (Undermining Reliability): Given their control over manufacturing, BRICS nations could, in a conflict scenario, subtly degrade the quality or introduce hidden flaws (hardware or software backdoors) into solar components destined for adversaries. This could lead to premature failures, reduced efficiency, increased maintenance burdens, and a general loss of faith in the reliability of solar infrastructure, all while being difficult to detect upfront.
    4. Trade Vulnerability (Economic Weak Point): Heavy reliance on imported solar panels and components makes a nation’s currency and economy susceptible. Any devaluation of the importing nation’s currency would drastically increase the cost of these essential goods. Furthermore, the dominant bloc could impose targeted tariffs or engage in other trade actions that specifically penalize the solar sector of a rival, exploiting this dependency. The US, for instance, imported eight times the solar modules it manufactured in 2023, showcasing this vulnerability.
    5. Investment Chill (Perceived Risk): The clear and present risk of supply chain disruption, price manipulation, or sabotage by a dominant, potentially adversarial, manufacturing bloc would create significant uncertainty. This “investment chill” would deter both domestic and foreign investment in the solar sector of the vulnerable nation. Investors would be wary of committing capital to projects that could be easily undermined by geopolitical factors beyond their control, thus slowing down the transition to solar energy and reinforcing reliance on the dominant bloc or other energy sources.
  • This “Beautiful Bill”? A Recipe for Disaster.

    This “Beautiful Bill”? A Recipe for Disaster.

    The recent unveiling of the “One, Big, Beautiful Bill” demands a critical eye, not a rubber stamp, especially from those who champion fiscal responsibility and effective governance. While packaged with appealing promises, a closer look reveals a proposal that misses the mark on several fundamental issues and unwisely bundles disparate policies into a take-it-or-leave-it behemoth.

    Let’s start with the much-touted tax cuts. The claim of putting more money in Americans’ pockets rings hollow when we consider the crushing weight of our national debt. As Rep. Thomas Massie has rightly pointed out, the annual federal interest burden alone equates to losing a full IRA for every citizen. This doesn’t even factor in the hidden tax of inflation, exacerbated by out-of-control spending and unfunded liabilities in states like California, which silently devalues every dollar we earn. Barking up the “tax cut” tree while the fiscal house is on fire is a distraction. Frankly, many Americans would likely pay more in taxes if it meant a serious crackdown on rampant fraud. Where are the arrests? We see endless talk, perhaps even obscure “DOGE research” initiatives, yet tangible results in holding fraudsters accountable are conspicuously absent. This needs to change.

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