Double Eagle Headlines: June 6, 2023 (D-Day)


Shoplifters may be ruining retail for the rest of us
Walgreens’ new anti-theft efforts have customers fuming.

The next time you’re inside a Walgreens and want to pick up a product to find out more about it, you might as well be sitting at home on your computer reading the item’s description.
Chain stores like Walgreens are wrestling with an epidemic of brazen shoplifting, sometimes carried out by groups of individuals. Target has put losses from theft at $500 million in 2022. Walmart recently closed four Chicago stores that were constant victims of crime… (Continue to full article)

Apple offices in northern California.

Apple announces multibillion-dollar deal with Broadcom for U.S.-made chips
Apple on Tuesday announced a new multibillion-dollar deal with Broadcom to develop 5G radio frequency components in the U.S.

“We’re thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing,” Apple CEO Tim Cook said in a release.

Apple said its deal with Broadcom is part of its 2021 commitment to invest $430 billion in the U.S. economy. The move marks the latest phase of a partnership between the two companies, as Broadcom announced it would sell $15 billion in wireless components to Apple in 2020… (Continue to full article)

The next big threat hovering over the U.S. economy
As the federal government strives to contain financial market turmoil, the next risk looming over the nation’s banks is in plain sight: the $20 trillion commercial real estate market.

Some $1.5 trillion in mortgages will come due in the next two years, a potential time bomb as higher interest rates and spiraling office vacancies push down property values.

And because 70 percent of bank-held commercial mortgages sit on the balance sheets of regional and smaller lenders, a write-down in commercial loans could spell big trouble for the financial system and spill over into the larger economy just as the 2024 presidential campaign gets underway.

With the country careening toward a possible recession, the financial system is especially vulnerable to shocks as the turbulence sparked by the collapse of three regional banks showed… (Continue to full article)

California State Senate Passes Bill to Give Illegal Migrants Unemployment Checks
California’s State Senate passed a bill last week to give unemployed illegal migrants $300 weekly unemployment checks for up to 20 weeks, despite the fact that the state faces a $32 billion budget deficit.

Under SB 227, unemployment fund officials would be barred from asking for claimants’ social security number eligibility or contacting past or present employers to verify their job status.

Instead, applicants would self-attest that they meet the requirements for the weekly checks: having earned at least $1,300 or worked at least 93 hours over three months. Acceptable documentation would include tax returns, transaction logs on payment apps, and receipts that show a commuting pattern.

The State Senate passed the measure just months after Gov. Gavin Newsom (D.) said the undocumented migrant influx could “break” California… (Continue to full article)

Good For Crypto: FDIC Says Record $472 Billion Withdrawn By US Depositors
Crypto could be enjoying some boost in price and adoption as the latest report from the Federal Deposit Insurance Corp. showed that deposits of about half a trillion dollars were removed from U.S. banks during the first three months of 2023, sending stocks tumbling.

The research appeared to revive concerns about the failures of Silicon Valley Bank, Signature Bank, and First Republic, which were precipitated in large part by the aggressive interest rate hikes implemented by the U.S. Federal Reserve.

On Wednesday, the 10 largest U.S. banks by market capitalization had their stock prices fall by at least 1 percentage point… (Continue to full article)

US Congressman Moves To Stop CBDC ‘Dead in Its Tracks’, Introduces Bill To Block Federal Reserve
A Congressman in West Virginia’s second district is introducing a new bill that would keep the Federal Reserve from carrying out experiments related to the use of a central bank digital currency (CBDC).

In a new press release, Congressman Alex X. Mooney introduces the “Digital Dollar Pilot Prevention Act,” which aims to close a loophole that would allow the Federal Reserve from running a pilot program designed to test the feasibility of issuing a CBDC.

“This bill would prohibit the Federal Reserve from establishing, carrying out, or approving a program intended to test the practicability of issuing a CBDC.”

According to the press release, more than a dozen House Republicans have agreed to serve as original co-sponsors of the bill… (Continue to full article)

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The Economics of Scrunched Up Cash

Some say the free market can’t be trusted to handle money, but the truth is exactly the opposite. It’s the government that creates problems with money.

As I was going through my wallet the other day I came across a bill that was rather folded and scrunched up. If you are older than 20, you can probably relate. It had obviously changed hands countless times in its life. Somewhere along the way someone must have hastily shoved it into their wallet, giving it creases that remain to this day. Ever since it has been a bother for whoever holds it, decrepit, annoying, and inconvenient.

My first reaction upon discovering this bill was the same as every other person who has ever faced this problem: I need to find an excuse to spend this. If only I could spend it, I thought to myself, then I could get rid of it without taking a loss. Continue reading

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Double Eagle Headlines: The Weekend – June 3, 2023


The death of the bank branch!

PNC announces it will shut nearly 30 branches after First Republic said it is closing a quarter of its locations – is YOUR state affected?

The financial giant follows in the footsteps of JPMorgan which yesterday announced it was closing a quarter of First Republic locations after it took over the failed firm earlier this year.

It comes as America faces an access to cash crisis as firms axe branches and ATMs at lightning speed. The number of cash machines fell from 470,000 in 2019 to 451,500 at the end of 2022, according to figures from research body Euromonitor International… (Continue to full article)

The Fed promises more dollar destruction
The U.S. dollar has already collapsed 12 percent since the Fed embarked upon an extraordinary money-printing campaign to cushion the economic blows from the COVID-19 public health crisis. While it is unlikely the greenback will lose its reserve currency status any time soon, the fiat money’s days are numbered. The Fed’s latest Frankenstein experiment will be a contributing factor to the buck’s demise.

If you thought the 2007–09 response by Ben Bernanke and his Federal Reserve System was extraordinary, you have not been paying attention to what is currently happening under Powell’s watch… (Continue to full article)

The wealth redistribution scam that Is ‘inflation
The world over people are told that central banks pursue “price stability” by making sure that consumer goods prices do not rise by more than 2 percent per annum. This is, of course, a big sham. If the prices of goods rise over time, it does not take that much to understand that prices do not remain stable. And if the prices of goods increase over time, it necessarily means that the purchasing power of the money unit declines.

As money loses its purchasing power, income and wealth are stealthily redistributed. Some individuals and groups of people are enriched at the expense of others. Savers and workers are swindled out of their deserved income and retirement benefits, while those who own goods that rise in value or who borrow money typically reap a windfall profit…. (Continue to full article)

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Double Eagle Headlines: June 2, 2023


35 TRILLION reasons why frail Biden’s latest stumble is the ultimate symbol of America’s debt-ridden plunging fortunes

In a week that the McCarthy-Biden debt ceiling deal has reluctantly limped its way across the finish line, it was perhaps the perfect symbol of America’s plunging fortunes.

Later the same day, the Senate approved the ‘compromise’ deal to suspend the debt ceiling – agreed to by Republican House Speaker Kevin McCarthy and Biden last weekend – and add roughly $4 trillion to our national debt over the next two years.

That will take total federal debt up to an astounding $35 trillion. Just let that figure sink in for a second. The danger cannot be overstated…

Joey falls flat on his ass – and so does America!!! (Continue to full article)

Our fake spending debates

The reality in Washington, DC, is that our budgetary debates are generally about shifting deck chairs on the fiscal Titanic.

This week, Speaker of the House Kevin McCarthy, R-Calif., and President Joe Biden cut a deal to raise the debt limit. The breakthrough came after three months of Biden pledging not to even negotiate over the debt limit. Instead, Biden was forced to concede to a 1% cap on increases for non-military spending, a cutback on IRS funding, a clawback of some unspent COVID-19 allocations, and addition of work requirements for some federal aid.

The compromise deal was indeed far less than House Republicans had demanded

Every word of that critique is true. Compared to conservative ideals, the compromise bill is indeed a flaming bag of fiscal manure… (Continue to full article)

“Gold, Mr. Bond.”

Gold (GC) Price Forecast 2023 to 2028
Gold has long been considered a valuable asset and a safe haven for investors. Its timeless appeal and scarcity make it an attractive investment option, especially during times of economic uncertainty.

As of today, the price of gold stands at 2012.800 USD per ounce, reflecting its enduring value in the market. In this article, we will explore the forecasted trends and projections for gold prices from 2023 to 2028, considering various factors that influence its value.

When it comes to long-term projections, it’s crucial to consider multiple factors and analyze trends over a more extended period. Based on comprehensive analysis and market indicators, the forecast for gold prices from 2023 to 2028 reveals an upward trajectory.

While fluctuations are expected, the overall trend suggests a positive outlook for gold investors.

In December 2024, the forecasted gold price ranges from 2840.99155 USD to 3843.69445 USD per ounce… (Continue to full article)

If History Repeats, 1 Widely Owned Commodity Is Set to Skyrocket

Although there aren’t any indicators, metrics, charts, or software that can concretely predict the directional movement of equities, there are certain indicators, metrics, and charts that have an undeniably strong track record of making these calls . One such chart, with more than 123 years of history to back it up, implies that a widely owned commodity might be on the verge of rocketing higher.

If history repeats once more, all that glitters will be gold.

Gold is one of the most-traded commodities on the planet and typically trails only Brent Crude, West Texas Intermediate Crude, and natural gas futures contracts in terms of average futures contract trading volume.

It’s also an investment that people typically seek out as a safe haven…. (Continue to full article)

Banking Crisis Saps FDIC Insurance Fund
The recent banking crisis has strained the U.S. government’s deposit insurance fund.

That’s according to data released by the Federal Deposit Insurance Corp. (FDIC) Wednesday (May 31) as part of its quarterly banking profile.

It showed that the government’s Deposit Insurance Fund had $116 billion in assets at the close of this year’s first quarter, down from $128 billion at the end of last year. The report also showed that the ratio of assets to insured deposits in America’s banks dropped to 1.1%, which is below the legally mandated 1.35% minimum.

The industry continues to face significant downside risks from the effects of inflation, rising market interest rates, slowing economic growth, and geopolitical uncertainty… (Continue to full article)

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Double Eagle Headlines: May 31, 2023


Americans now owe $1 TRILLION in credit card debt

Average household carries a $10,000 balance that has an interest rate of 20%

National credit card debt has leapt $250 billion in two years after declining during the pandemic. A new credit card now has an average rate of 24 percent, in contrast to 16.65 percent last spring

The Federal reserve estimates a slightly more conservative figure, putting the nation’s credit card debt at $986 billion, a steep incline of $250 billion in two years… (Continue to full article)

Americans Rank Gold As Second-Best Long-Term Investment
Americans consider gold the second-best long-term investment option, according to a recent Gallup poll. Gold beat out stocks, bonds and savings accounts.

The perception that gold is the best investment over the long term rose from 15% in 2022 to 26% in the 2023 poll, overtaking stocks at the number two spot.

Real estate has held the top spot since 2013 with 35% of Americans rating it the best long-term investment in the most recent poll. That was down sharply from last year’s record high of 45%.

Stocks held third place with 18%, followed by savings accounts/CDs (13%) and bonds (7%)… (Continue to full article)

Update on US Government Holy-Moly Debt, Interest Expense, and Tax Receipts, and How they Stack Up Against GDP
We shoulda known better.

US government interest expense shot up over the past four quarters in line with higher interest rates and the ballooning pile of debt. At the same time, tax revenues fell from the peak levels in 2022 and are back where they’d been in Q4 2021, which had been a record high at the time.

The Free-Money era – the Fed’s near-0% policy rates plus QE – created the biggest borrowing binge by the US government, as Congress and the various White Houses fully bought into this concept that money will forever be free and that debt doesn’t matter because debt is free too – though it now suddenly matters a lot because money and debt are no longer free… (Continue to full article)

$30,000,000,000 Exits US Banking System in One Week As Deposit Flight Grows
New numbers from the Federal Reserve show the amount of money people are pulling out of their bank accounts is once again on the rise.

According to stats compiled by the Federal Reserve Economic Data (FRED) system, depositors yanked $30 billion out of American bank accounts from May 10th through May 17th.

That represents an increase of more than $4 billion over the previous week. The US banking system now has a total of $17.15 trillion in deposits, compared to $18.03 trillion one year ago.

The deposit flight follows the failures of three large regional banks – Signature Bank, Silicon Valley Bank and First Republic. The Los-Angeles based PacWest, which has been in the spotlight as the latest bank trying to keep afloat, is selling $2.6 billion in real estate construction loans in a bid to improve its balance sheet… (Continue to full article)

Sorry Our Demographic Karma Ran Over Your Economic Dogma
Your bogus economic dogma of “growth via the wealth effect” created the demographic karma that will bring down the status quo.

What happens when you bleed your workforce while enriching those who already own assets with one bubble after another, all in the name of “fostering growth”? To answer this, let’s modify a felicitous phrase: Sorry Our Demographic Karma Ran Over Your Economic Dogma.

The Demographic Karma is young people can no longer afford houses, healthcare or children and so the birthrate plummets and the workforce shrinks to the point that the bloated, heavily indebted status quo collapses under its own weight… (Continue to full article)

Republicans Fail on the Debt Ceiling in 2023
The United States House of Representatives’ passage of the Limit, Save, Grow Act of 2023 is a big Republican failure addressing the debt ceiling. The debt ceiling would be raised above the current limit of $31 trillion by $1.5 trillion or through March 2024, whichever comes first. Notably, “official cost estimates have not yet been released,” so the projected paltry $480 billion annual spending reductions likely will be much less. This is because this bill “does not list any specific cuts.” Fortunately, it is expected that Senate Democrats will vote down this execrable bill.

Campaigning Republicans are invariably aghast at deficits in the billions. Elected Republicans, however, are comfortable with deficits in the trillions based on last year’s appropriations passed by the most progressive Congress and administration in this country’s history.

The House bill is a “me too, but a little less” action to grow ever bigger government more slowly… (Continue to full article)

It’s past time to go visit Ozzy!

Nearly a quarter of central banks plan to buy more gold as divide between emerging and advanced economies grows
Central banks remain very keen on boosting their gold reserves, with 24% saying they plan to buy more precious metal in the next 12 months, according to the World Gold Council’s (WGC) 2023 Central Bank Gold Reserves Survey.

“Following a historical high level of central bank gold buying, gold continues to be viewed favourably by central banks as a reserve asset,” said the survey that polled 59 central banks between February 7 and April 7.

Financial market concerns, planned purchases of domestic gold production, and portfolio rebalancing are driving the additional buying… (Continue to full article)

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Social Security ~ It’s YOUR Money – NOT Theirs!

A woman, or man dies at age 65 before collecting one benefit check. She/He and her employer paid into the system for almost 50 years and she collected NOTHING!

Keep in mind all the working people that die every year who were paying into the system and got nothing.

And these governmental morons mismanaged the money and stole from the system, so that it’s now going broke… Continue reading

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Double Eagle Headlines: May 25, 2023


‘It’s not their money – It’s MY money!’
Older Americans worried debt default means no Social Security If the United States defaults on its financial obligations, millions of Americans might not be able to pay their bills as well.

With Social Security and other government benefits at risk amid a political stalemate over the government’s debt ceiling, experts and older Americans told ABC News that the consequences of the impasse in Washington could be dire, including for older Americans who need the money to pay for basic needs such as food, housing or health care costs.

A quarter of Americans over age 65 rely on Social Security to provide at least 90% of their family income… (Continue to full article)

Oil Rises as US Gasoline Supplies Tighten, Saudi Says: ‘Watch Out’
Oil prices rose on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.

Brent crude futures LCOc1rose 85 cents, or 1.1%, to settle at $76.84 a barrel, while the U.S. West Texas Intermediate crude (WTI) CLc1 ended at $72.91 a barrel, up 86 cents, or 1.2%.

Both benchmarks extended gains to about 2% in post-settlement trade, after figures from the American Petroleum Institute (API) showed a large draw in crude and gasoline last week, according to market sources. API/S

If official inventories data from the Energy Information Administration, due on Wednesday, confirm the industry body’s figures, U.S. gasoline inventories would have declined for the third straight week to their lowest pre-Memorial Day levels since 2014… (Continue to full article)

Wall Street Execs Prepare For Massive US Collapse
It’s been just revealed that the Wall Street executives are preparing for a massive collapse in the US.

US predictions claim US dollar reign comes to an end

Famed American investor and co-founder of the Quantum Fund, Jim Rogers, said not too long ago that the dollar’s reign as the world’s reserve currency is coming to an end… (Continue to full article)

U.S. Treasury Report: 66 Million Americans Could Stop Receiving Social Security Benefits if Debt Ceiling is not Raised
What happens if the United States runs out of money to pay the country’s bills?

“There would be an economic and financial catastrophe”, as Treasury Secretary Janet Yellan describes it. Yellan states that the U.S. faces ‘widespread suffering’ if the debt limit is not raised.

The Republicans are making demands for drastic spending cuts to social security, health care, food programs, education, veteran benefits, and more.

Spending cuts to these programs would mean the most vulnerable in this nation would suffer the most. Millions of Americans will lose income they rely on and need to get by. This could lead to a recession, and many American jobs and business could be destroyed.

If the country goes into default, some dire consequences could ensue… (Continue to full article)

Sound Money Legislation Rapidly Gaining Traction in Many US States
As the US Federal Government and Federal Reserve head ever more into the abyss of destroying the value of the US dollar, continually breaching debt ceilings, creating asset bubbles, and intervening in and manipulating financial markets, there is an accelerating counter force emerging in the US that is the antithesis of this Federal Government and Federal Reserve madness.

That is the Sound Money movement in the US. Generally speaking, a sound money is a money that is able to maintain a stable purchasing power over time and does not significantly fluctuate due to inflation or deflation. Sound Money is most often associated with a tangible asset, such as gold, which has a low supply increase (or tight monetary controls) to ensure its stability. To paraphrase Mises, a sound money can “protect against arbitrary actions by sovereigns to depreciate the currency.”

“Sound money is money that is not prone to sudden appreciation or depreciation in purchasing power over the long term, aided by self-correcting mechanisms inherent in a free-market system.”… (Continue to full article)

‘Real Assets’ are cheaper than they’ve ever been in modern history
Twelve years ago I stood on stage in front of the audience and explained my core ethos: the United States, and the West in general, were in social, political, and economic decline.

I took no pleasure in saying that, but my lack of joy didn’t make it any less true.

I explained to the audience back in 2011 that America’s vast national debt— and specifically the outrageously high growth rate of the national debt, was going to one day create a huge problem for America’s finances.

Similarly, I said that the dollar would eventually run into serious trouble, and even be in danger of losing market share as the world’s dominant reserve currency… (Continue to full article)

Withdrawing Your Own Cash? NatWest Bank Wants To Know Why… And See Proof
Here in Canada, for at least a few years – predating COVID, the big four banks have been routinely asking you why you are taking cash out whenever you withdraw anything over a couple thousand dollars. However, you can tell them pretty well anything (“because I want it”, “none of your business” or even “to blow it all on booze and hookers”, will all work). I haven’t heard of a case where a withdrawal has been denied based on the reason supplied, yet.

But now that we’re starting to see it formalized in policy language of banks, we can all see where this is going.

The war on cash has been in full swing for a long time, India banned large denominations bills in 2016 and will now start eliminating them from the monetary base. France has been signalling a prohibition on cash payments over 1,000 francs since 2013 and finally, quietly, it seems, made it part of the framework this year.

It portends a wider initiative across the entire Eurozone (who is also trying to lump in crypto payments under the restrictions).

This is all to lay the groundwork for the march into Central Bank Digital Currencies (CBDCs) which will seek to accomplish three objectives of Late-Stage Globalism… (Continue to full article)

The Fed Has a New Scandal on Its Hands: Colluding with Central Banks to Rig Libor
The Fed has been under non-stop scandals for the past two years. It pumped out trillions of dollars in repo-loans to Wall Street’s casino banks beginning on September 17, 2019 and then made up a hokey excuse to cover up its massive bailout of banks it is incompetent to supervise.

After former Dallas Fed President, Robert Kaplan, was caught trading like a hedge fund kingpin while sitting on confidential Fed information, the Fed’s Board of Governors had the audacity to refer the matter to its own Inspector General, who reports to the Fed’s Board of Governors and can be fired by it. Not surprisingly, 19 months later there’s still no word on this investigation.

Then there was the President of the St. Louis Fed, James Bullard, who was caught giving a private meeting with Citigroup clients… (Continue to full article)

Definite Debt Default
It’s pathetic that we do this song and dance about raising the debt ceiling every couple of years.

It’s about as hollow, inane and meaningless as both our monetary and fiscal policies in this country — so, in that respect, it fits. It’s also great fodder for the two-party political pissing match that takes place on the daily, so as to keep us peons distracted from the ugly reality of many of the decisions our country collectively makes.

The idea being pushed by both parties — that a default would be catastrophic for markets — is meaningless for several reasons. First, we’ve been in a perpetual state of “default”, as measured by unsustainable fiscal and monetary policy, for decades now… (Continue to full article)

THIS is the END!

The Probability Of A Recession Happening In The Next 12 Months Is The Highest In More Than 40 Years!
If they are actually telling us that a recession is coming this time around, how bad is it going to be? In 2008, officials kept assuring us over and over again that there wouldn’t be a recession, and then we plunged into the greatest economic downturn since the Great Depression of the 1930s. But here in 2023, what is coming is so obvious that nobody can deny what is happening.

The economy is already starting to come apart at the seams all around us, and the “experts” at the Federal Reserve openly acknowledge that they are making things even worse by hiking interest rates. Pretty much everyone agrees that rougher times are ahead of us, and “a probability model from the New York Federal Reserve” is now projecting that there is a 68.2 percent chance that there will be a recession within the next 12 months… (Continue to full article)

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The Civil War Gold Hoax

The hoax’s never seem to end…

Gold speculators in New York. (image from Frank Leslie’s Illustrated Newspaper, May 7, 1964)

It was May, 1864. Grant was closing in on Lee in Virginia. New Yorkers were growing hopeful that the long, terrible ordeal of the Civil War would soon be over.

But their hopes were dashed when on Wednesday, May 18 they read in two of their morning papers, the New York World and the Journal of Commerce, that President Lincoln had issued a proclamation ordering the conscription of an additional 400,000 men into the Union army on account of “the situation in Virginia, the disaster at Red River, the delay at Charleston, and the general state of the country.”

The implication of the proclamation was clear. Evidently the war was not going as well as had been hoped. This raised the possibility that the conflict might drag on for years to come, putting further strains on the nation’s economy and manpower. In reaction to this news, share prices on the New York Stock Exchange plummeted, while gold, considered to be a safe, inflation-proof investment, immediately rose in value. (Continue…)

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Smith: America’s Real Wealth Destroyed or Stolen by Bad Economic Practices

So little time do we have left here on earth and so much is left for us to do.

So little time do we have left…

Our nation is in deep shit, and much of it can be traced back to poor morals taught in our homes since the 60s, but it isn’t all to be blamed on the people. The money-changers and monied interests on Wall Street have run one financial scam on the people after another through the whores of the Federal Reserve Bank that has been manufacturing massive economic Bubbles and Busts as a means to steal the wealth of all Americans while enriching themselves. We witnessed the first one in 1929, a mere sixteen years after the federal centralize bank returned to the scene and a group of private bankers was put in charge of our currency and our economy.

Who could have really thought this was good for the average American? Nobody with the sense God gave a goose. President Andrew Jackson knew, and he sent the centralized bank packing with its tail between its legs. The Federal Reserve Bank serves itself first, its criminal cronies and cohorts second, and the American people last. Continue reading

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Double Eagle Headlines: May 23, 2023


McCarthy says there’s STILL no Biden debt limit deal – but ‘I believe we can get it done’
Speaker insists there has FINALLY been progress with just 10 days to strike a deal and avoid a catastrophic default.

Biden said he and Speaker Kevin McCarthy spoke about reaching ‘bipartisan agreement’ on a budget standoff that has the nation facing potential default within days – but they announced crossing no major milestones to get them there.

Biden said it was ‘pretty well divided in the House’ and ‘not different in the Senate’ and called to ‘get something we can sell to both sides’ – a statement about the legislative mechanics that will be required to move any deal through Congress… (Continue to full article)

Veterans benefits, Social Security and Medicare payments, and SNAP could be among the first federal programs at risk if the US defaults in 10 days
Last week, the think-tank Bipartisan Policy Center published an analysis on the federal programs that would be at risk in the first days and months following a default on the nation’s debt. Treasury Secretary Janet Yellen warned Speaker of the House Kevin McCarthy that the US could run out of money to pay its bills as soon as June 1 , but even with the severe time crunch, McCarthy and President Joe Biden have yet to reach an agreement on raising the debt ceiling before that deadline.

The US has never defaulted on its debt, so no one can say with certainty what will happen once the government can no longer afford its spending obligations. But the Bipartisan Policy Center used daily Treasury statements, which it said are “subject to significant uncertainty and variability of cash flows,” to estimate which federal programs could be among the first at risk in the event of a default.

In the first ten days of June, the government could be unable to afford the following programs… (Continue to full article)

Who Can Take Your Money – with a Twinkle in Your Eye?

‘Oy Vey’ – The Looting Bankers

JPMorgan Is Freezing Customer Bank Accounts in New Scandal
Republican attorneys general from 19 states say the bank is “persistently” discriminating against its own clients and closing bank accounts without warning.

The law enforcement officials, led by Kentucky Attorney General Daniel Cameron, sent a letter to JPMorgan CEO Jamie Dimon stating that the banking giant’s practices go against the company’s own policies on equality, per Business Insider.

The letter, which has now been published by the Wall Street Journal, states that JPMorgan has repeatedly discriminated against customers based on their religious or political beliefs… (Continue to full article)

Social Security Beneficiaries Have Lost 36% of Their Buying Power Since 2000
Many seniors rely heavily on Social Security to cover their expenses in retirement. Granted, some people manage to kick off their senior years with savings and have investments that pay them continuously during their 70s, 80s, and beyond. But for a lot of people, Social Security is really their only source of income. And it’s seniors in this boat who have been getting hurt financially for several decades and counting.

The reason? New data from the nonpartisan Senior Citizens League reveals that Social Security recipients have lost an astounding 36% of their buying power since 2000. What’s particularly surprising about that figure is that it’s coming on the heels of the program’s most generous cost-of-living adjustment (COLA) to come down the pike in decades.

At the start of 2023, seniors on Social Security saw their monthly benefits increase by 8.7%. In spite of that, long-term Social Security recipients have lost a ton of buying power over the past 23 years. And that trend is, unfortunately, likely to just continue unless lawmakers take action… (Continue to full article)

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