Biden: GOP policies would cede tech economy to China
President Joe Biden says that Republicans’ ideas for cutting the budget could undermine U.S. manufacturing and help China dominate the world economy. (Mar. 28)
‘The Billionaire Bailout’: FDIC Chair Says the Biggest Deposit Accounts at SVB Held $13 Billion | naked capitalism
By Jake Johnson, staff writer at Common Dreams. In prepared testimony for a Senate Banking Committee hearing slated for Tuesday morning, the chair of the Federal Deposit Insurance Corporation reveals…
Brazil Looks To Strengthen Ties With China, As Taiwan Loses Yet Another Ally in Latin America | naked capitalism
“Brazilian and Chinese interests… align at present in some important areas, the most important being an investment in a multipolar world order.” Today (March 28), Brazil’s President Luiz Inácio Lula…
US Continues Its Abuse of the EU With Recent Inflation Reduction Act Agreement | naked capitalism
By Conor Gallagher It was all rainbows and unicorns during a recent meeting between US President Joe Biden and European Commission President Ursula von der Leyen as they announced that…
2:00PM Water Cooler 3/27/2023 | naked capitalism
By Lambert Strether of Corrente. Patient readers, I am enmeshed in the coils of hospital infection control regulation, and hope to escape at some point today. In the meantime, this…
FDIC Sells Much of Silicon Valley Bank to First-Citizens Bank. Total Cost of SVB Collapse to Deposit Insurance Fund: $20 Bn | naked capitalism
Lambert here: A good test of my theory that financial institutions with “First” in their names are like restaurants named “Mom’s. By Wolf Richter, editor of Wolf Street. Originally published…
Fed-Inflicted Bank Wobbles Persist as Investors Fret About Deutsche | naked capitalism
It is remarkable to see the Fed determined to keep driving banks and investors into the ditch in the name of combatting an inflation it can’t fix. Since when do…
How Debt Dynamics Polarize Economic and Political Power | naked capitalism
Yves here. Michael Hudson has graciously provided us with an overview of his new book, The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point. It looks at…
Links 3/26/2023 | naked capitalism
The Myth of the Alpha Wolf The New Yorker (Furzy Mouse). Robotic beehive provides vital life support to chilly honeybees New Atlas (Furzy Mouse). Been caught stealin’: Hindenburg Research is…
Sen. Sanders Shows Fire, but Seeks Modest Goals, in His Debut Drug Hearing as Health Chair | naked capitalism
Lambert here: In like a lion, out like a lamb. (The Democrats not only managed to avoid passing single payer during a pandemic, they managed to erase it from the…