Trump wanted a government shutdown. He didn’t want it to occur during his own presidency, however. His strategy, it seems, was to engineer a crisis under Biden’s administration.
This calculated move aimed to create maximum economic chaos, painting Biden as incompetent and incapable of managing the nation’s finances. The resulting turmoil would then serve as a springboard for Trump’s “rescue mission.”
The envisioned scenario involved a severely weakened economy upon Trump’s return to office, a landscape ripe for him to declare “Bidenomics” a failure. This would position him to implement drastic changes, shifting blame for any subsequent economic downturn away from himself.… Continue reading
Under Argentine President Javier Milei’s austerity measures, poverty has surged to a two-decade high, impacting the poorest segments of society most severely. While the government cites economic recovery and reduced inflation as successes, critics highlight the devastating consequences of slashed public spending, job losses, and reduced social programs on vulnerable populations. Despite widespread hardship and protests, Milei maintains considerable public support, with some attributing this to his populist messaging and the public’s disillusionment with previous administrations. The government, however, plans to continue its austerity program, further intensifying its effects on Argentina’s poorest citizens.
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Eliminating the FDIC, the agency safeguarding depositors’ accounts in case of bank failures, is a frightening prospect with potentially devastating consequences. This action, seemingly advocated by certain political figures, could unravel the very foundations of financial stability, echoing the disastrous events of the Great Depression.
The FDIC’s role is crucial in maintaining public trust in the banking system. Without this protection, the risk of bank runs – a mass withdrawal of funds driven by fear – becomes exponentially higher. Imagine millions of people rushing to withdraw their savings, potentially collapsing even solvent banks. The resulting chaos would cripple the economy, mirroring the catastrophic bank failures that exacerbated the Great Depression.… Continue reading
President-elect Trump’s transition team is exploring the possibility of weakening or abolishing key banking regulators, including the FDIC and OCC, potentially transferring their functions to the Treasury Department. This aligns with Project 2025’s proposal to merge several financial regulatory agencies. Concerns have been raised that dismantling these agencies, particularly the FDIC, could undermine public trust in the banking system and increase the risk of another financial crisis. The potential elimination of the CFPB is also under consideration, reflecting a broader push for deregulation within the financial sector.
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Argentina’s inflation has dramatically slowed to 2.7% in October, marking the lowest rate in three years, a significant victory for President Javier Milei’s libertarian government. This achievement, which follows a year of drastic economic reforms, demonstrates a crucial step in Milei’s fight against the country’s debilitating economic crisis. Despite the government’s success in bringing inflation down, ordinary Argentines continue to grapple with the effects of the radical economic overhaul, which included the elimination of generous energy subsidies. The government’s aim is to further reduce inflation below 3% by the end of the year, a goal they have now achieved.
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Cuba is standing at a precipice, teetering on the edge of what can only be described as a total collapse. My heart aches as I watch a nation that once held a romantic allure deteriorate into a landscape characterized by widespread blackouts and economic despair. Just three weeks ago, I returned from Cuba, a place that I have visited numerous times in the past fifteen years, and the drastic changes I observed were unsettling. It is not merely the infrastructure that crumbles; it is the very spirit of the Cuban people that seems to be under siege.
The pervasive blackouts have become a common, tragic echo in the lives of everyday Cubans, affecting their ability to work, live, and hope.… Continue reading
I was in Cuba this summer, staying at an all-inclusive hotel, and even there, I experienced rolling power outages, limited food options, and questionable water quality. It’s alarming to think that this is the reality for the average Cuban on a daily basis. It’s disheartening that Cuba’s deteriorating situation receives little media coverage, highlighting the struggles faced by millions in the country. The recent shutdown of schools and non-essential industries, coupled with widespread electricity shortages, paints a bleak picture of the state of affairs in Cuba.
The political system in Cuba is often characterized as a single-party authoritarian regime, where political opposition is not tolerated.… Continue reading
Russia’s Central Bank’s decision to raise interest rates to a whopping 19% is truly a testament to the dire economic situation that the country currently finds itself in. As inflation continues to tick up, the repercussions of Russia’s invasion of Ukraine are becoming more apparent, leading to a cascade of economic hardships that are beginning to take their toll.
The escalation of government debt, as well as personal and business debt, coupled with the loss of trading partners and dwindling economic prospects, has painted a bleak picture for Russia’s economy. The country’s reliance on high-interest bonds to raise funds, coupled with unsustainable sign-on bonuses for military recruits, is creating a financial house of cards that is teetering on the edge of collapse.… Continue reading
The government of Cuba has declared itself in a ‘war-time economy,’ a term usually reserved for extreme situations. What exactly does this mean for the people of Cuba? Well, the country ended 2023 with some alarming statistics – an inflation rate of 30%, a 2% contraction in the economy, and a depreciation of the Cuban currency by over 50% against major currencies like the dollar and euro in the informal market. This is definitely not a good sign.
Cuba is a communist country, so maybe this move is not entirely surprising. Being a command economy already, how can you really tell the difference when a ‘war-time economy’ is declared?… Continue reading
Matt Underwood 
John Q. Hosedrinker