Business
Yellen sees ‘disconnect’ between economy’s performance, Biden polling on September 19, 2023 at 4:13 pm Business News | The Hill
Treasury Secretary Janet Yellen said she sees a “disconnect” between the good health of the U.S. economy and polling numbers which show that many Americans fear a recession.
“I agree with you that there’s a disconnect and I don’t have a simple and convincing answer, but Americans have been through a lot,” Yellen said in an MSNBC interview Tuesday.
A poll earlier this month found that 58 percent of Americans believe President Biden’s policies are making the economy worse. A separate poll found that more people trust former President Trump on economic issues than Biden.
Those results come as fears of a recession subside, inflation falls and unemployment remains low. The jobless rate was 3.8 percent in August — just 0.3 percentage points above its pre-pandemic level — and inflation has fallen to annual rate of 3.7 percent last month from a peak of 9.1 percent in June 2022, according to the Labor Department.
“The U.S. is enjoying slower growth than during the [pandemic] recovery phase but remarkable job creation, strong consumer spending and that even with inflation coming down, I think we’re on a path to what you might call a soft landing,” Yellen said.
Yellen said many of those concerns don’t tend to align with people’s views of their own financial wellbeing.
“Interestingly, when Americans are asked about their own personal economic situation, they’re positive on that,” she said. “The negative results you cite mainly reflect their answers to ‘How is the economy more broadly doing?’”
She believes that those survey results will improve, however, as Americans slowly realize the positive impacts of Biden administration legislation.
Yellen specifically cited the Bipartisan Infrastructure Law, the Inflation Reduction Act and the CHIPS Act as pieces of legislation which are already having a positive impact on the economy.
The economy has been a central argument for Republicans for the upcoming 2024 elections and has been a focus of the Biden administration in recent months. Last week, the White House blamed poor perception on “MAGAnomics,” a follow up to the president’s own “Bidenomics” policy.
Business, 2024 presidential election, Biden approval rating, Economy, inflation, Recession, unemployment Treasury Secretary Janet Yellen said she sees a “disconnect” between the good health of the U.S. economy and polling numbers which show that many Americans fear a recession. “I agree with you that there’s a disconnect and I don’t have a simple and convincing answer, but Americans have been through a lot,” Yellen said in…
Business
When TikTok and CapCut Vanished from America
In a shocking turn of events, TikTok and CapCut, two of America’s most popular social media and video editing apps, vanished from U.S. app stores and became inaccessible to users on Saturday evening, January 18, 2025. This unprecedented digital blackout affected approximately 170 million American users, leaving them stunned and searching for alternatives.
The Sudden Shutdown
As the clock struck 10:50 PM Eastern Time on Saturday, both TikTok and CapCut disappeared from Apple and Google app stores. Users attempting to access the apps were greeted with a stark message: “Sorry, TikTok isn’t available now. A law banning TikTok has been enacted in the U.S. Unfortunately, that means you can’t use TikTok for now”.
The ban wasn’t limited to just TikTok and CapCut. Other ByteDance-owned apps, including Lemon8, Hypic, and Gauth, also became unavailable to U.S. users. This sweeping action effectively cut off access to a suite of popular digital tools that millions had come to rely on for entertainment, content creation, and even business purposes.
The Legal Battle
The shutdown came after a tumultuous legal battle that culminated in a Supreme Court decision upholding a federal law requiring ByteDance, the Chinese parent company of TikTok and CapCut, to either sell its U.S. operations or face a ban. The legislation, passed in April 2024, cited national security concerns related to data privacy and potential foreign influence.
Impact on Users and Creators
The sudden disappearance of TikTok and CapCut has left content creators and everyday users in a state of digital limbo. Many relied on these platforms not just for entertainment, but as essential tools for their livelihoods and creative expression. The ban has disrupted a thriving ecosystem of digital content creation, leaving millions to scramble for alternative platforms and editing tools.
Political Implications and Future Uncertainties
As the dust settles, all eyes are on the incoming administration. President-elect Donald Trump, set to take office on January 20, has hinted at a potential 90-day extension for ByteDance to sell TikTok. This development has injected a new layer of uncertainty into an already complex situation.
What’s Next?
While the apps remain inaccessible, ByteDance and TikTok officials continue to work towards a resolution. TikTok’s message to users ends on a hopeful note, stating, “We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned”.
As America grapples with this digital void, questions about data privacy, national security, and the future of social media regulation loom large. The TikTok and CapCut ban marks a significant moment in the ongoing debate over the influence of foreign-owned technology companies in the United States, with far-reaching implications for users, creators, and the tech industry as a whole.
Bolanle Media covers a wide range of topics, including film, technology, and culture. Our team creates easy-to-understand articles and news pieces that keep readers informed about the latest trends and events. If you’re looking for press coverage or want to share your story with a wider audience, we’d love to hear from you! Contact us today to discuss how we can help bring your news to life.
Business
TikTok Ban Drives 216% Rise in U.S. Users Learning Chinese on Duolingo
Duolingo has reported a remarkable 216% increase in U.S. users learning Mandarin Chinese, coinciding with the impending ban on TikTok, set to take effect on January 19, 2025. This surge is attributed to many TikTok users migrating to a new Chinese social media platform called RedNote (also known as Xiaohongshu), which defaults to Mandarin as its primary language. As TikTok users seek alternatives amidst concerns over data privacy and app availability, they are turning to RedNote, prompting a cultural exchange that has driven interest in learning Chinese.
The spike in Mandarin learners began around mid-January, aligning with the growing popularity of RedNote among former TikTok users. Duolingo’s marketing team has actively engaged with this trend on social media, humorously acknowledging the phenomenon with posts like “Learning Mandarin out of spite? You’re not alone”.
Additionally, Duolingo has seen a 36% increase in downloads in the U.S., reflecting heightened consumer demand for language learning resources as users adapt to the new social media landscape.
The transition from TikTok to RedNote has not been without challenges, as some users have encountered technical issues during registration and account suspensions.
Bolanle Media covers a wide range of topics, including film, technology, and culture. Our team creates easy-to-understand articles and news pieces that keep readers informed about the latest trends and events. If you’re looking for press coverage or want to share your story with a wider audience, we’d love to hear from you! Contact us today to discuss how we can help bring your news to life.
Business
TikTok’s Final Countdown: The Sunday Shutdown
As the clock ticks down to January 19, 2025, TikTok users in the United States are bracing for a significant disruption. The app, which boasts approximately 170 million users in the country, faces a potential ban that could render it non-functional by this Sunday. Here’s what you need to know about the impending ban and its implications.
Key Details of the Ban
The anticipated ban comes amid ongoing national security concerns regarding TikTok’s Chinese ownership. Government officials have raised alarms about the possibility of sensitive user data being accessed by Chinese authorities. As a result, the app is expected to be removed from digital app stores, effectively cutting off new downloads and updates.
What Will Happen?
- Removal from App Stores: On January 19, TikTok will likely be taken down from platforms like the Apple App Store and Google Play Store.
- Existing Users Affected: Current users may find that their app becomes non-functional, losing access to new content creation and updates.
- Data Preservation Challenges: Users may face difficulties in preserving their data and content as the deadline approaches.
Recommendations for Users
In light of the impending ban, TikTok users should take proactive steps to safeguard their content and data:
- Download Personal Data: Users can access their TikTok settings to download their data before it’s too late.
- Export Saved Videos: Save any cherished videos or content that you wish to keep.
- Backup Content: Consider backing up your videos on alternative platforms.
- Explore Alternatives: As TikTok faces its potential shutdown, consider migrating to other platforms such as:
- Instagram Reels
- YouTube Shorts
- Lemon8
- Triller
Potential Scenarios
While the ban is set for this Sunday, there are several scenarios that could unfold in the coming days:
- Last-Minute Legal Intervention: There remains a possibility of a legal challenge that could delay or halt the ban.
- Temporary Injunction: Courts may issue a temporary injunction allowing TikTok to operate while legal proceedings continue.
- Complete Shutdown: If no intervention occurs, users will face a complete shutdown of the platform in the U.S. market.
Emotional Impact on Users
The potential ban is not just a technical disruption; it carries significant emotional weight for many users. Content creators who have built their brands on TikTok may experience economic repercussions as they lose a primary platform for engagement. Additionally, the shift could lead to broader changes in the social media landscape as users seek new avenues for expression and connection.
Conclusion
As we approach this critical deadline, TikTok users should remain vigilant and prepared for possible changes. Whether through legal maneuvers or a complete shutdown, the future of TikTok in the United States hangs in the balance. Stay tuned for real-time updates as we navigate this evolving situation together.
Bolanle Media covers a wide range of topics, including film, technology, and culture. Our team creates easy-to-understand articles and news pieces that keep readers informed about the latest trends and events. If you’re looking for press coverage or want to share your story with a wider audience, we’d love to hear from you! Contact us today to discuss how we can help bring your news to life.
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