Independent thinking for complex markets and current events
President Biden is weighing giving out green cards to up to 4,000 undocumented immigrants facing deportation, so long as they have resided in the US for at least a decade and have not been convicted of “serious crimes.” The Justice Department’s Executive Office for Immigration Review floated a proposal to make thousands of migrants lawful …
New York City will move forward with a plan to give migrant families debit cards loaded with cash to buy food and baby supplies. NBC keeps asking Chicago how much they are spending to shelter illegal aliens. Chicago provided the numbers for 9 of the 27 shelters in the city: 1. The Inn: $344,000 weekly …
Additionally, US consumer SERIOUS (90+ days) delinquency rates in auto loans and credit card debt for the most productive cohort (18-39) have been the highest since the Great Financial Crisis The mighty US consumer is getting through some notable issueshttps://t.co/puJCEOhOzW — Global Markets Investor (@GlobalMktObserv) March 11, 2024
NYC has announced a program to provide prepaid credit cards to families. But although the program will cost $53 Million, it could be cheaper than the city’s other options for providing food and baby supplies.
New York City Mayor Eric Adams has defended a new pilot program to give migrants prepaid debit cards, saying it could save the city money. “Adams spent a large portion of his weekly media availability on Tuesday defending the program, which could grow to cost the city $53 million, saying it will save the city …
@NYCMayor is giving out debit cards to illegal immigrants up to $10,000 each in taxpayer money with no ID check, no restrictions and no fraud control.Why are we distributing untraceable global cash to unidentifiable people in droves? https://t.co/TTAp7cIFGg — Manhattan Mingle (@ManhattanMingle) February 20, 2024 The New York Post reports: Inside Mayor Adams’ migrant debit card …
Mayor Eric Adams’ administration will soon start handing out pre-paid credit cards to migrant families being put up in Big Apple hotels, The Post has learned. The $53 million pilot program, run by the New Jersey company Mobility Capital Finance, will provide asylum seekers arriving at the Roosevelt Hotel with the city cash to help them buy …
This is the sweet spot for all of the next incoming busses. “New York City is set to distribute $53 million worth of pre-paid debit cards to illegal immigrants at the cost of taxpayers. These pre-paid debit cards, otherwise known as the “Immediate Response Card,” will help illegal immigrants buy food, according to the New …
“Illegal immigrants receive cash and prepaid cards through UN. The story has been making rounds since UN revealed the programs in its 2024 budget. The doc. explains how the UN has given money and other assistance to facilitate mass illegal immigration.” “And who pays the vast majority of UN funding? The USA taxpayers.” Illegal immigrants receive …
via NYP: In 2021, early on in America’s historic border crisis, I wrote that the United Nations was abetting the problem by handing out debit cards and cash vouchers to aspiring illegal border crossers on their way north. One outraged group of 21 border security-minded lawmakers pitched a bill that would require the United States, …
Donald Trump helped kill Congress’ last big bid for an immigration compromise. As the Senate closes in on its next attempt, members of both parties are prepared for the former president to try it again. Speaker Mike Johnson’s televised acknowledgement that he’s consulting with Trump on border policy is giving déjà vu to senators who witnessed the …
I beg to differ on their definition of legally crossed. Showing up here claiming economic asylum is not a legal entry. via Yahoo: “EL PASO, Texas – The Hernández family from Cuba huddled together, bundled in winter coats, for a pre-dawn appointment to cross the U.S.-Mexico border. A perk awaited them on the U.S. side …
via JAMES RICKARDS: Are gold prices and interest rates joined at the hip? Based on recent market action, it would appear the answer is: yes. A major rally in gold is now underway. Gold moved from $1,831 per ounce on Oct. 6 to $2,091 per ounce on Dec. 1, a 14.1% rally in just eight …
Americans at the Airport vs. Illegals at the Border
by yourmomsaccountant I’ve created a personal finance tracking spreadsheet that tracks all of my financial activity for the year (2023). Based on the numbers, I have net purchases amounting to $59,767.76. Because I pay the statement balance off in full every month (with the exception of 0% intro offer cards) I have not been hit …
In a pivotal moment for the market, the S&P 7, responsible for 95% of the S&P 500’s gains this year, is facing scrutiny due to its overvaluation. With a price-to-earnings ratio reminiscent of historic bubbles, including the tech boom of 2000, concerns grow as some S&P 7 components exhibit P/E ratios over double previous bubble …
The US government recently imposed export rules preventing chipmakers like NVIDIA from shipping chips to China (including the GeForce RTX 4090), citing AI safety concerns. However, the US government highlighted that the move wasn’t designed to run down China’s economy, further indicating that it was a safety measure to prevent using the chips in military advances. While it’s evident …
Another record credit card debt Collectively, Americans now owe $1.08 trillion on their credit cards, according to a report from the Federal Reserve Bank of New York. Steadily, persistently higher prices have caused consumers to spend down their savings and increasingly turn to credit cards to make ends meet. At the same time, credit cards are one …
via moneywise: It’s not just low-income Americans drowning under inflation and interest rates — some higher-income folks are feeling the strain on their wallets as well. Data from a June survey conducted by personal finance software company Quicken revealed that 32% of Americans earning at least $150,000 a year are currently living paycheck to paycheck, …
Global economy’s glide to ‘soft landing’ gets bumpy as bond yields jump WASHINGTON, Oct 6 (Reuters) – Rocketing U.S. government bond yields that have led to a global jump in borrowing costs are raising new risks for economic policymakers hoping to lower inflation without triggering a major crisis. The world’s finance officials, who will gather …
by BrutalBodyShots Many of us give the [sound] advice of “always pay your CC statement balance in full monthly” as it’s the right approach for financial health. Those new to credit cards get confused by the difference between the statement balance and the “minimum payment” required. That’s exactly what the credit card companies want, as …
China’s Housing Slump Far Worse Than Reported; Half Of State-Owned Builders Warn Of “Widespread” Losses Earlier today, Goldman’s head of hedge fund sales Tony Pasquariello observed that “to this point in the sequence, I’d argue the slowdown in China had been a net positive for US equities — with specific regard to the disinflationary impulse and the flow …
#China suspends youth jobless data after record high readings. The decision announced shortly after the release of weaker-than-expected factory & retail sales data sparked rare backlash on social media amid growing frustration about employment prospects in the country.… pic.twitter.com/KSsSdOIxM7 — Holger Zschaepitz (@Schuldensuehner) August 15, 2023 Cutting rates because they are about to experience a …
via dnyuz: Well, that didn’t take long. Like Threads before it, the network effect is at work for Apple’s new Savings account! Tech. Entertainment. Science. Your inbox. Sign up for the most interesting tech & entertainment news out there. Email: SIGN UP By signing up, I agree to the Terms of Use and have reviewed the Privacy Notice. …
For the first time in history, total credit card debt is about to cross $1 trillion. Since Q4 2020, total credit card debt is up over $200 billion. Americans currently hold a record $986 billion in credit card debt. 2/7 pic.twitter.com/L2cfwDWWEY — The Kobeissi Letter (@KobeissiLetter) August 1, 2023 According to a survey conducted in …
A Home Depot employee issued $873,900 worth of fraudulent gift cards in a three-year scheme that has cost the company more than $6 million, prosecutors said today.https://t.co/nreyNjHLx7 — CWBChicago (@CWBChicago) July 28, 2023
WASHINGTON — The president of the United States tripping and falling is never a good moment in the throes of a re-election campaign. But when the president is 80 years old and already faces concerns that he’s too old for another term, it’s something of a crisis. Joe Biden’s aides realized they had a problem …
