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Why ‘Bidenomics’ is falling flat with voters on December 28, 2023 at 12:25 pm Business News | The Hill

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President Biden’s attempt to sell Americans on his role in post-pandemic economic recovery has fallen flat, even as the U.S. economy defies the odds and expectations of experts.

Despite widespread fears at the beginning of the year that a recession was on the way, the U.S. economy is on track to finish 2023 with low unemployment, steady economic growth and significantly slower inflation.

These remarkable topline numbers, however, have done little to help Biden’s standing with voters or their views on the economy. 

“You don’t expect sentiment and economic fundamentals to always track perfectly, but they are really, really off,” said Matt Darling, senior employment policy analyst at the Niskanen Center, a nonprofit think tank.

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Biden’s approval rating has fallen to a record low of 34 percent, according to Monmouth University poll released last week, with nearly 70 percent of respondents disapproving of his handling of inflation. More than half of respondents disapproved of Biden’s record on jobs, even as he presides over a historically strong labor market.

The November unemployment rate of 3.7 percent is just 0.2 percentage points above its pre-pandemic level, which marked a five-decade-low in joblessness. The annual inflation rate also plunged last month to 3.1 percent from a high of 9.1 percent in June 2022, according to the Labor Department’s consumer price index (CPI). 

U.S. gross domestic product (GDP) is on track to rise at nearly pre-pandemic levels, far faster than the minimal or even negative growth projected by scores of economists. And the economy posted these strong topline numbers in the face of rapid Federal Reserve rate hikes, which bank officials admitted could tank the economy into a recession.

Biden and his allies have kept the economy front and center in the president’s reelection campaign, which will likely end with a rematch against former President Trump, the frontrunner for the GOP nomination. Biden currently trails Trump by 2 percentage points, according to The Hill/Decision Desk HQ poll tracker

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The Biden administration and campaign have tried to reverse the trend by touting the benefits of “Bidenomics” — a loosely defined phrase focused on the president’s enactment of trillions of dollars in stimulus and economic relief, and how those packages have benefited the economy.

“When President Biden took office, he inherited an economy from Donald Trump that was rigged for the ultra-rich and left in shambles. But thanks to President Biden’s leadership, the U.S. economy has consistently defied expectations, with millions of jobs created, inflation at its lowest level in more than two years, and costs coming down for the American people,” said campaign spokesman Kevin Munoz last week after another strong inflation report.

They have also largely waived off criticism of the president’s economic record, accusing Republicans and the media of drumming up discontent for self-serving reasons.

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In brief Saturday remarks, Biden expressed confidence in the economy while ripping reporters for how they’ve covered it.

“All good. Take a look. Start reporting it the right way,” Biden said when asked about his economic outlook for 2024, according to a transcript released Sunday by the White House.

But experts warn that touting strong economic data in the face of growing frustration with the economy risks backfiring on Biden and deepening the backlash.

“People’s individual experiences in the economy should not be considered incorrect just because they’re at odds with macroeconomic statistics,” said Kathryn Ann Edwards, an independent economic policy consultant.

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“The economy is doing well, and people don’t feel like they’re doing well. Well, put a name to that: It’s being left behind and it’s being told over and over again ‘You’re being left behind.’”

Most economic experts pin much of the frustration on the stubbornness of high inflation. While inflation has eased, it is still well above the Fed’s 2 percent annual target. Many Americans have also been feeling the frustration of rising prices for years.

The steep spike in food and energy prices, much of which driven by the war in Ukraine, also put a serious burden on lower-income households that spend nearly all income on essential goods.

“People can understand over time that houses go up in value, cars go up in value,” said Gordon Gray, vice president for economic policy at the American Action Forum, a right-leaning research nonprofit.

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“But at the end of the day, with eggs and gasoline, people kind of want to pay what they have always paid — or at least close to it.”

The pandemic also deepened the decade-long housing affordability crisis in the U.S. as construction screeched to a halt and federal stimulus fueled a homebuying frenzy. After months of record home price and rent growth, Fed rate hikes jacked mortgage rates up above 7 percent for the first time since before the 2007-08 recession.

“Inflation allows a lot of people to name frustrations that come from a lot of sources. And we’ve known for a while that there are there are lots of people who have almost no financial cushion,” Edwards said.

While Biden and his allies acknowledge the toll of high inflation, they are quick to note how much higher prices rose in other countries with even weaker economies. Wages also grew rapidly for most of Biden’s time in office, particularly for workers in lower-paying industries and those his hard by the pandemic.

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“There are some industries we’re seeing very big wage increases, both because of how tight the labor market got and how employers needed to compensate workers for jobs that became relatively unattractive and were less flexible,” said Julia Pollak, chief economist at ZipRecruiter.

While millions of workers may have ended up with higher wages relative to before the pandemic, Pollak said the legacy of its disruption may be shaping feelings about the economy.

“We’ve just had this massive whiplash reversal, so everyone has experienced good times and bad times since the start of the pandemic,” Pollak said. “When you have a situation where everyone has experienced bad times, everyone is feeling grumpy and angry at somebody.”

Some Americans lost jobs they loved or businesses they ran, only to find less-fulfilling sources of income down the road. Many struggling families experienced financial security for their first time in their lives as a raft of federal rescue programs kept them afloat, but left them drowning when aid expired. Nearly every industry was reshaped by the pandemic  — for better or worse — and amid new complications created by COVID-19.

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“This is the best we could ever expect the U.S. labor market to do and there are so many things it is not doing,” Edwards said.

“It is not creating sick days for every American worker. It is not creating paid leave for every American worker. It is not regulating or improving the shifts of people in retail and service sector work. It is not helping people who have a felony conviction get a job.”

Biden could struggle to sell voters on the economy as the scars of COVID-19 linger for millions of Americans, but there are early signs that 2024 could make that pitch easier.

Fed officials expect to make a series of interest rate cuts next year that will ease pressure on the economy and could boost spending. Several surveys of consumer sentiment rebounded in December as the Dow Jones Industrial Average hit new records and gas prices dipped below $3 per gallon in some places shortly before Christmas. And a wave of new rental housing should lower rents across the U.S., giving relief to cash-strapped families seeking affordable homes.

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“We have more work to do, but we’re on the right path and making progress executing President Biden’s agenda, a sharp contrast with Congressional Republicans’ plans to cut taxes for the wealthy and big corporations while raising health care and prescription drug costs for hardworking American families,” said Jared Bernstein, chairman of the White House Council of Economic Advisers (CEA), in a statement.

Some experts remain skeptical that Biden can turn the economy into a selling point after years of high inflation, even if the U.S. can bring inflation down without hitting a full recession.

“They’ll have to focus on other things that contrast with the former president, because a legacy of inflation is on unpopular irreducibly, and they’re gonna swim uphill on that and pointing to aggregate statistics can’t wish that away,” Gray said.

But as Biden looks for an edge on Trump, Pollak argued he could use his rival as inspiration.

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“Trump was always talking up the economy and for better or worse that changed people’s perceptions of that labor market,” she said. “Politics is the art of claiming credit and avoiding blame. I think Trump on the economy did that better.”

​Business, Administration, News President Biden’s attempt to sell Americans on his role in post-pandemic economic recovery has fallen flat, even as the U.S. economy defies the odds and expectations of experts. Despite widespread fears at the beginning of the year that a recession was on the way, the U.S. economy is on track to finish 2023 with low…  

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GLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER

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FOR IMMEDIATE RELEASE

Theme: “People, Planet, and Profit in the Age of AI and Innovation”

London, United Kingdom — The Global Sustainability Summit (GSS) is officially back for its landmark 5th Edition, continuing its legacy as one of the leading international platforms driving sustainable development, climate action, ethical investment, innovation, and global collaboration.

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Convened annually at the prestigious British Parliament, House of Lords, Palace of Westminster, by Ambassador Canon Chinenem Otto, the Summit has, over the last four years, successfully fostered international dialogue and partnerships that have contributed to the advancement of global sustainability goals, the establishment of sustainability-focused ministries, departments and policy structures across national and subnational governments, and the attraction of major investors into sustainable development projects, corporations and emerging economies.

This year’s summit, themed “People, Planet, and Profit in the Age of AI and Innovation,” will explore how emerging technologies, responsible leadership, sustainable finance, innovation, and global partnerships can shape a more inclusive, resilient and environmentally conscious future.

The 5th Edition promises to be the most impactful yet, bringing together world leaders, policymakers, diplomats, investors, academics, innovators, climate experts and youth leaders from across the globe to discuss actionable solutions toward achieving a sustainable and equitable future.

Among the distinguished speakers, delegates and honorees already lined up for the Summit are:

• His Excellency Mallam AbdulRahman AbdulRazaq — Executive Governor of Kwara State, Nigeria and Chairman of the Nigeria Governors’ Forum

• His Excellency Senator Prince Bassey Otu — Executive Governor of Cross River State, Nigeria

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• Ambassador Patricia Espinosa Cantellano — Former Executive Secretary of UN Climate Change (UNFCCC) and Former Foreign Minister of Mexico

• Lord Marvin Rees, Baron Rees of Easton OBE — Member of the House of Lords, United Kingdom

• Hon. Neema K. Lugangira — Secretary-General of Women Political Leaders (WPL), Brussels and Former Member of Parliament

• Her Excellency Dr. Netumbo Nandi-Ndaitwah — President of the Republic of Namibia

• His Excellency Nangolo Mbumba — Former President of Namibia

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• Former President of Tanzania

• Her Excellency Ambassador Professor Olufolake AbdulRazaq — First Lady of Kwara State, Nigeria and Chairperson of Nigeria Governors’ Spouses Forum

• Your Excellency Dr. Dikko Umar Radda, PhD, CON — Executive Governor of Katsina State and Chairman of the Northwest Governors Forum, Nigeria

• Hon. Sam Shafiishuna Nujoma — Governor of Khomas Region, Namibia

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• H.E. Mr. Veiccoh Nghiwete — High Commissioner of the Republic of Namibia to the United Kingdom

• Her Excellency Ms. Macenje “Che Che” Mazoka — High Commissioner of Zambia to the United Kingdom

• Ms. Danielle Newman — Partner Lead, ICT, World Economic Forum

• Leanne Elliott Young — Co-founder, Institute of Digital Fashion & CommuneEast

• Ms. Chloe Russell — Producer & Presenter, Art, Science and Nature

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• Professor Marie-Claire Cordonier Segger — University of Cambridge & University of Waterloo

• Dr. Alexandra R. Harrington — IUCN World Commission on Environmental Law (WCEL)

• Professor Payam Akhavan — Massey College, University of Toronto

• Mr. Mallai C. E. Sathya — President, Dravida Vetri Kazhagam and International Movement for Tamil Culture Asia

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The Summit will feature high-level panel discussions, strategic investment conversations, sustainability awards, policy dialogues, innovation showcases, youth engagement sessions and international networking opportunities focused on climate resilience, ethical financing, food-water-energy sustainability, circular economy, artificial intelligence, diplomacy and sustainable development.

Speaking ahead of the Summit, Convener Ambassador Canon Chinenem Otto noted:

“As the world rapidly evolves through artificial intelligence and technological innovation, we must ensure that sustainability remains people-centered, environmentally responsible and economically inclusive. The Global Sustainability Summit continues to serve as a bridge connecting governments, institutions, innovators and investors to accelerate practical sustainability solutions globally. Our fifth edition is not only a celebration of progress made over the years, but also a renewed call for global collaboration and actionable impact toward achieving the Sustainable Development Goals and Net Zero ambitions.”

The Global Sustainability Summit continues to position itself as a catalyst for transformative partnerships and sustainable global progress, reinforcing the urgent need for collective action toward a more resilient and sustainable future.

More announcements regarding additional speakers, partners and summit activities will be unveiled in the coming weeks.

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What the Michael Biopic Means for Every Indie Filmmaker

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The Michael Jackson biopic Michael is more than celebrity drama; it is a real-time lesson in how legal decisions can quietly rewrite a story that millions of people will see. You do not need a $200M budget for the same forces—contracts, settlements, and rights issues—to shape or even erase key parts of your own work.

“The Michael Jackson Movie Is A HUGE HIT!” by Adam Does Movies, CC BY, via YouTube.

What Happened to Michael

The film Michael originally included a third act that addressed the 1993 child sexual abuse allegations and their impact on Jackson’s life and career. Trade reports say this version showed investigators at Neverland Ranch and dramatized the scandal as a turning point in the story. After cameras rolled, lawyers for the Jackson estate realized there was a clause in the settlement with accuser Jordan Chandler that barred any depiction or mention of him in a movie.

Because of that old agreement, the filmmakers had to remove all references to Chandler and rework the ending so the story stopped years earlier, in the late 1980s at Jackson’s commercial peak.

According to reporting, this meant roughly 22 days of reshoots, costing around 10–15 million dollars and pushing the total budget over 200 million.

Meanwhile, actress Kat Graham confirmed her portrayal of Diana Ross was cut for “legal considerations,” showing how likeness and approval issues can wipe out an entire character even after filming.

For audiences, the result is a movie that intentionally avoids one of the most controversial chapters of Jackson’s life, which some critics argue makes the portrait feel incomplete or selectively curated.

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The Hidden Power of Contracts and Rights

The key detail in the Michael story is that a contract signed decades ago could dictate what present-day filmmakers are allowed to show. That settlement clause did not just affect the people who signed it; it effectively controlled the narrative of a big-budget film made years later. This is how legal documents become invisible co-authors: they quietly set boundaries around what your story can and cannot include.

Creators face similar invisible lines with:

  • Life-rights and defamation: If you dramatize real people, especially in a negative light, they can claim defamation or invasion of privacy if your portrayal is inaccurate or harmful.
  • Copyright and trademarks: Unlicensed music, clips, logos, or artwork can trigger copyright or trademark claims that block distribution or force expensive changes.
  • Distribution contracts: Some deals give distributors the right to re-edit, retitle, or repackage your work without your approval unless you negotiate otherwise.

Legal commentary warns that fictionalizing real events and people carries heightened risk because audiences tend to connect your dramatization back to actual individuals. That risk does not disappear just because you are “small” or “indie”; impact, not audience size, usually determines exposure.


Why This Matters for Indie Filmmakers and Creators

Independent filmmakers often choose the indie route precisely to maintain creative control, but they can face more risk if they skip legal planning. Common problems include unclear ownership of the script, missing music licenses, handshake agreements with collaborators, and no written permission to use locations or people’s likenesses. These are the kinds of issues that can derail distribution, block a streaming deal, or force last-minute cuts that fundamentally change your story.

Legal guides for indie filmmakers consistently emphasize a few realities:

  • You do not fully “own” your film unless you have clear contracts for writing, directing, producing, and underlying rights.
  • Unregistered or unlicensed creative elements (like music and logos) can make your project uninsurable or unattractive to distributors.
  • Fixing legal problems after the fact is almost always more expensive and limiting than planning for them at the beginning.

So when you watch Michael skip over certain events, you are seeing, in exaggerated form, the same forces that can shape an indie short, web series, documentary, or podcast episode.


You do not need a law degree, but you do need a basic legal strategy for your creative work. Here are practical steps drawn from entertainment-law and indie-film resources:

  1. Clarify who owns the story
    • Use written agreements with co-writers, directors, and producers that state who owns the script and finished film.
    • If your work is based on a real person or memoir, secure life-rights or written permission where appropriate, especially if the portrayal is sensitive.
  2. Be intentional with real people and events
    • When telling true or inspired-by-true stories, avoid making specific, negative claims about identifiable people unless they are well-documented and legally vetted.
    • Change names, details, and circumstances enough that the person is not clearly identifiable if you do not have their cooperation.
  3. Lock down music and visuals
    • Use original scores, licensed tracks, or reputable libraries; never assume you can keep a song just because it is in a rough cut.
    • Clear artwork, logos, and recognizable brands, or replace them with generic or custom-designed alternatives.
HCFF
HCFF
  1. Protect yourself in contracts
    • When signing any distribution or platform deal, read the clauses about editing, retitling, and marketing carefully; ask for limits or at least consultation rights.
    • Include terms that let you reclaim rights if a partner fails to release the work, goes dark, or breaches key promises.
  2. Document everything
    • Keep organized copies of releases, licenses, and contracts; these documents are part of your project’s value and proof of your rights.
    • Register your work where applicable (for example, copyright), which strengthens your ability to enforce your rights if someone copies you.

Education-focused legal resources repeatedly stress that preventative steps—basic contracts, clear permissions, and simple registrations—are far cheaper than dealing with takedowns, lawsuits, or forced rewrites later.


The Big Takeaway: Story and Law Are Connected

The Michael biopic illustrates what happens when legal obligations and creative vision collide: whole characters disappear, endings are rewritten, and the public only sees a version of the story that fits within old contracts.

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As an indie filmmaker, writer, or content creator, you may not have millions at stake, but you do have something just as valuable—your voice and your ability to tell the story you meant to tell.

Understanding the legal dimensions of your work is not a distraction from creativity; it is a way of protecting it. When you know where the legal boundaries are, you can design stories that are bold, truthful, and still safe enough to reach the audiences they deserve.

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How Epstein’s Cash Shaped Artists, Agencies, and Algorithms

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Jeffrey Epstein’s money did more than buy private jets and legal leverage. It flowed into the same ecosystem that decides which artists get pushed to the front, which research gets labeled “cutting edge,” and which stories about race and power are treated as respectable debate instead of hate speech. That doesn’t mean he sat in a control room programming playlists. It means his worldview seeped into institutions that already shape what we hear, see, and believe.

The Gatekeepers and Their Stains

The fallout around Casey Wasserman is a vivid example of how this works. Wasserman built a powerhouse talent and marketing agency that controls a major slice of sports, entertainment, and the global touring business. When the Epstein files revealed friendly, flirtatious exchanges between Wasserman and Ghislaine Maxwell, and documented his ties to Epstein’s circle, artists and staff began to question whose money and relationships were quietly underwriting their careers.

That doesn’t prove Epstein “created” any particular star. But it shows that a man deeply entangled with Epstein was sitting at a choke point: deciding which artists get representation, which tours get resources, which festivals and campaigns happen. In an industry built on access and favor, proximity to someone like Epstein is not just gossip; it signals which values are tolerated at the top.

When a gatekeeper with that history sits between artists and the public, “the industry” stops being an abstract machine and starts looking like a web of human choices — choices that, for years, were made in rooms where Epstein’s name wasn’t considered a disqualifier.

Funding Brains, Not Just Brands

Epstein’s interest in culture didn’t end with celebrity selfies. He was obsessed with the science of brains, intelligence, and behavior — and that’s where his money begins to overlap with how audiences are modeled and, eventually, how algorithms are trained.

He cultivated relationships with scientists at elite universities and funded research into genomics, cognition, and brain development. In one high‑profile case, a UCLA professor specializing in music and the brain corresponded with Epstein for years and accepted funding for an institute focused on how music affects neural circuits. On its face, that looks like straightforward philanthropy. Put it next to his email trail and a different pattern appears.

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Epstein’s correspondence shows him pushing eugenics and “race science” again and again — arguing that genetic differences explain test score gaps between Black and white people, promoting the idea of editing human beings under the euphemism of “genetic altruism,” and surrounding himself with thinkers who entertained those frames. One researcher in his orbit described Black children as biologically better suited to running and hunting than to abstract thinking.

So you have a financier who is:

  • Funding brain and behavior research.
  • Deeply invested in ranking human groups by intelligence.
  • Embedded in networks that shape both scientific agendas and cultural production.

None of that proves a specific piece of music research turned into a specific Spotify recommendation. But it does show how his ideology was given time, money, and legitimacy in the very spaces that define what counts as serious knowledge about human minds.

How Ideas Leak Into Algorithms

There is another layer that is easier to see: what enters the knowledge base that machines learn from.

Fringe researchers recently misused a large U.S. study of children’s genetics and brain development to publish papers claiming racial hierarchies in IQ and tying Black people’s economic outcomes to supposed genetic deficits. Those papers then showed up as sources in answers from large AI systems when users asked about race and intelligence. Even after mainstream scientists criticized the work, it had already entered both the academic record and the training data of systems that help generate and rank content.

Epstein did not write those specific papers, but he funded the kind of people and projects that keep race‑IQ discourse alive inside elite spaces. Once that thinking is in the mix, recommendation engines and search systems don’t have to be explicitly racist to reproduce it. They simply mirror what’s in their training data and what has been treated as “serious” research.

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Zoomed out, the pipeline looks less like a neat conspiracy and more like an ecosystem:

  • Wealthy men fund “edgy” work on genes, brains, and behavior.
  • Some of that work revives old racist ideas with new data and jargon.
  • Those studies get scraped, indexed, and sometimes amplified by AI systems.
  • The same platforms host and boost music, video, and news — making decisions shaped by engagement patterns built on biased narratives.

The algorithm deciding what you see next is standing downstream from all of this.

The Celebrity as Smoke Screen

Epstein’s contact lists are full of directors, actors, musicians, authors, and public intellectuals. Many now insist they had no idea what he was doing. Some probably didn’t; others clearly chose not to ask. From Epstein’s perspective, the value of those relationships is obvious.

Being seen in orbit around beloved artists and cultural figures created a reputational firewall. If the public repeatedly saw him photographed with geniuses, Oscar winners, and hit‑makers, their brains filed him under “eccentric patron” rather than “dangerous predator.”

That softens the landing for his ideas, too. Race science sounds less toxic when it’s discussed over dinner at a university‑backed salon or exchanged in emails with a famous thinker.

The more oxygen is spent on the celebrity angle — who flew on which plane, who sat at which dinner — the less attention is left for what may matter more in the long run: the way his money and ideology were welcomed by institutions that shape culture and knowledge.

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Ghislaine Maxwell seen alongside Jeffrey Epstein in newly-released Epstein files from the DOJ. (DOJ)

What to Love, Who to Fear

The point is not to claim that Jeffrey Epstein was secretly programming your TikTok feed or hand‑picking your favorite rapper. The deeper question is what happens when a man with his worldview is allowed to invest in the people and institutions that decide:

  • Which artists are “marketable.”
  • Which scientific questions are “important.”
  • Which studies are “serious” enough to train our machines on.
  • Which faces and stories are framed as aspirational — and which as dangerous.

If your media diet feels saturated with certain kinds of Black representation — hyper‑visible in music and sports, under‑represented in positions of uncontested authority — while “objective” science quietly debates Black intelligence, that’s not random drift. It’s the outcome of centuries of narrative work that men like Epstein bought into and helped sustain.

No one can draw a straight, provable line from his bank account to a specific song or recommendation. But the lines he did draw — to elite agencies, to brain and music research, to race‑obsessed science networks — are enough to show this: his money was not only paying for crimes in private. It was also buying him a seat at the tables where culture and knowledge are made, where the stories about who to love and who to fear get quietly agreed upon.

Bill Clinton and English musician Mick Jagger in newly-released Epstein files from the DOJ. (DOJ)

A Challenge to Filmmakers and Creatives

For anyone making culture inside this system, that’s the uncomfortable part: this isn’t just a story about “them.” It’s also a story about you.

Filmmakers, showrunners, musicians, actors, and writers all sit at points where money, narrative, and visibility intersect. You rarely control where the capital ultimately comes from, but you do control what you validate, what you reproduce, and what you challenge.

Questions worth carrying into every room:

  • Whose gaze are you serving when you pitch, cast, and cut?
  • Which Black characters are being centered — and are they full humans or familiar stereotypes made safe for gatekeepers?
  • When someone says a project is “too political,” “too niche,” or “bad for the algorithm,” whose comfort is really being protected?
  • Are you treating “the industry” as a neutral force, or as a set of human choices you can push against?

If wealth like Epstein’s can quietly seep into agencies, labs, and institutions that decide what gets made and amplified, then the stories you choose to tell — and refuse to tell — become one of the few levers of resistance inside that machine. You may not control every funding source, but you can decide whether your work reinforces a world where Black people are data points and aesthetics, or one where they are subjects, authors, and owners.

The industry will always have its “gatekeepers.” The open question is whether creatives accept that role as fixed, or start behaving like counter‑programmers: naming the patterns, refusing easy archetypes, and building alternative pathways, platforms, and partnerships wherever possible. In a landscape where money has long been used to decide what to love and who to fear, your choices about whose stories get light are not just artistic decisions. They are acts of power.

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