Debit Cards for Immigrants in the Crack-Up Boom

Daily Digest
, ,
1

Originally published at: https://peakprosperity.com/daily-digest/debit-cards-for-immigrants-in-the-crack-up-boom/

The potential consequences of excessive money printing, leading to a “crack-up boom,” are causing concern. This could result in currency depreciation against assets and impact US government confidence. Factors such as an aging population, rising interest expenses, and increased discretionary spending are shifting fiscal deficit projections. The expectation is that excessive government spending will drive currency depreciation against assets, affecting home prices and equity markets. Government deficits may also fuel consumer price inflation, impacting currency value. The influence of foreign capital inflows on US assets, interest rates, and dollar appreciation is also under scrutiny, as is the evolution of bank regulations post-2008 financial crisis.

Meanwhile, the Federal Reserve is expressing concern about inflation risks and the potential dangers of a commercial real estate bubble. The minutes from their recent meeting reveal a split between embracing lower interest rates and addressing these risks. The Fed acknowledges the need for a substantial adjustment in the commercial real estate sector, as valuations remain high despite low prices. The stability of the US financial system is notable, with asset valuation pressures and leverage in the financial sector. The Fed is transitioning from its inflation-fighting stance to addressing the risks in the commercial real estate sector.

In other news, New York City’s mayor is defending a new program to distribute prepaid debit cards to migrant families. The program aims to provide funds for food and baby supplies, potentially saving taxpayers $7 million per year. Critics argue that the program is wasteful and inefficient, and that the timing of its announcement is politically controversial. The program is currently limited to 700 families, but if successful, it may be expanded. In addition to the credit card program, the state government has expanded its safety net assistance program to provide payments to asylum seekers with pending applications. Critics argue that these payments further strain the city’s finances. A curfew has been implemented in 20 migrant shelters following a series of violent incidents. Critics view the curfew as retaliatory and potentially detrimental to migrants’ ability to work. The city’s shelters are already at capacity, and the curfew could help manage bed availability. However, its effectiveness in enhancing safety is questioned by some.

Sources

New York City Mayor Faces Criticism Over $50 Million Prepaid Debit Card Program for Migrant Families

“If this is successful, we’re going to expand it even more,” the mayor added.

Source | Submitted by permiegirl

Fed Minutes Reveal Concerns over Commercial Real Estate and Inflation Risks

The Fed not quite ready, on the one hand, to let go of what they think of as inflation risks, well at the same time they are indeed becoming quite uncomfortable over the possible dangers from, yes, the CR bubble.

Source | Submitted by rhollenb

Experts Warn of Potential “Crack-Up Boom” and Economic Recession Due to Excessive Government Spending

https://www.youtube.com/watch?v=p5TXxJuY2QI

Source | Submitted by rhollenb

2

As a Manhattan resident and an almost daily walker, I am in the bucket and see much of the changes and challenges that are life in the “big city”. Especially when suburbanites move in and can’t even pretend their in a city (ref: Fran Lebowitz), like lighting up BBQ’s in a courtyard they “share” with hundreds of others, higher up in the smoke stream (snicker). But stories of life in the city are plentiful, “I got a million of them”
That said, there’s bad people everywhere, some of them work in offices, some of them are migrants, some politicians, etc. Many are also running for their lives or the lives of their children (like mine did (RIP) from Hilter and Stalin). [and I’m still feel accused of being “White”!]
What I wanted to say {giggle} was that giving certain migrants a little subsistance money is cheeper then putting them on a plane for Phoenix AZ, where the crime rate is double of what it is in Manhattan (OG!).
In any case I spend a good part of “my day” pretending I’m in the “country”

Shalom Achshav (Peace Now)

1 Like
3

I love Fran, always entertaining.

PS, if you’re so inclined from time to time, pls share stories from the big city. Spent a summer internship there my junior year.

4

Why aren’t there any migrants from El Salvador?
Rather, people are leaving the USA for El Salvador(?)

5

Many were already here. The IIA campaigns and marketing to the migrants in this weaponized migration effort seems to have been focussed on other countries. Columbia and Venezuela were targeted first as they were tricked into invading Chile (many millions of them migrated in less than a month).

6

In my opinion, the New York City bickering about how to handle migrants is really about a problem that shouldn’t exist in the first place. It is yet another diversion from rational discussion of serious “root cause” problems; in this case, the invasion underway at our southern border. When the problem gets framed as “migrants” needing our help, with no mention of the root problem, we have tacitly accepted what’s going on at the border. We have taken our eyes off the prize (i.e., a nation with borders whose government operates only with the consent of an informed populace).

7

I agree, I’m only addressing the reality of my day-to-day. You are correct, I am also very upset with the agenda of the plutocrats. Indeed we, us, you, and I, have a duty to keep attention on the root cause while at the same time remaining connected to our humanity. We can’t treat the people “like animals” even if were going to have to make difficult decisions to restore our “democratic” Republic.
I hear you Russ.

(EX: I’m against carpet bombing northern Mexico, like a zionist) (you can giggle)

1 Like