Category: Economy

NY Democrats Propose 4% Tax On Netflix, Uber To Fund MTA

Albany lawmakers in the Assembly have floated potentially hitting streaming services like Netflix, Hulu and HBO Max with the state’s sales tax as one way to fund the cash-strapped Metropolitan Transportation Authority.

“A new tax on digital streaming services demonstrates how tone-deaf Democrats are to the affordability issues New Yorkers face,” said Assembly Minority Leader William Barclay (R-Syracuse).

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COLLAPSE OF THE DOLLAR? Investor Bets That Bitcoin Will Go From $27k To $1 Million In 90 Days – “The Bankers Lied”

One investor just bet $1 million dollars that Bitcoin will skyrocket over the next 90 days.

“This isn’t your typical fractional reserve situation. The problem is that there isn’t enough in the banks on a mark-to-market basis to cover withdrawals. They knew this through all of last year, and communicated it internally in their coded language.”

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One Million Guns Sold Every Month For 43 Straight Months!

February saw a continuation of the trend of Americans buying firearms, with the 43rd straight month of gun sales exceeding one million.

According to Mark Oliva, NSSF’s director of public affairs, the steady demand for firearms is a testament to Americans’ right to lawful firearm ownership. Despite the efforts of some politicians to demonize gun ownership, the monthly figures show that Americans are choosing to protect themselves and participate in the shooting sports.

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Economic Study: 186 US Banks Are in Trouble and at Risk of Insolvency – May Collapse Like Silicon Valley Bank

Economists are now estimating that 186 US banks may be prone to the same risks as Silicon Valley Bank. This number is likely higher as the pressures that regional banks are facing are ramping up.

This number comes from a recent economic study published on March 13.

Treasury Secretary Janet Yellen told the US Senate on Thursday that not all uninsured deposits would be protected in future bank failures, ONLY those banks that pose systemic risks. Regional banks will get screwed.

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Crypto Acted As Safe Haven Amid SVB And Signature Bank Run: Cathie Wood

Amid all the chaos surrounding multiple bank runs in the United States, Cathie Wood, CEO of asset management firm ARK Invest, said cryptocurrencies have acted as a safe haven amid the ongoing banking crisis in the United States. She blamed the recent downfall of the likes of Silicon Valley Bank (SVB), Signature and others on the policy failures of the Federal Reserve.

Wood also pointed out that the ongoing crisis wasn’t caused by cryptocurrency, with the ecosystem under heavy scrutiny since FTX’s downfall, which has led to a regulatory crackdown. Wood said that regulators are using crypto as a scapegoat for their own lapses in the oversight of traditional banking.

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Historic Upset in Netherlands as Farmer’s Movement Trumps Ruling WEF RINOs

A political earthquake hit the Netherlands Wednesday in the wake of massive farmer’s protests as the upstart Farmer’s Movement party passed the ruling People’s Party in provincial elections. “Nobody can ignore us any longer,” said Farmer’s Movement leader Caroline van der Plas.

“The BBB or BoerBurgerBeweging (Farmer-Citizen Movement) party rode a wave of protests against the government’s environmental policies and looked set to have won more Senate seats than Prime Minister Mark Rutte’s conservative VVD party”, Reuters reports. The BBB was strongest party in the Provincial Council elections in all Dutch provinces except urban Utrecht Province.

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Ron DeSantis To Lead 18 States In Alliance Against ‘Woke’ Investing

Florida Gov. Ron DeSantis is leading an 18-state alliance to combat “woke” environmental, social and governance (ESG) investment policies.

The alliance, formally announced Thursday, comes after “Resident” Joe Biden vowed to veto an anti-ESG bill that intended to roll back a Department of Labor rule allowing pension and retirement fund managers to weigh ESG factors when determining investments, according to a press release. The governors will lead “state-level” initiatives to protect “Americans’ financial freedom” by allocating state funds accordingly.

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Meta To Layoff 10,000 More Staff In The Coming Months

Facebook parent company Meta is set to lay off another ten thousand employees in the latest round of layoffs in tech.

This is a new round of layoffs to hit the company, after they had cut over 10,000 jobs late last year. Meta, among other in the tech industry, have found themselves needing to cut costs. Which means they’ve needed to let go of thousands of employees.

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As Banking Collapses Erode Trust, Bitcoin Fixes Moral Hazard

As the underlying issues in our economy are exposed by recent banking failures, Bitcoin stands as a trustless, alternative money.

As unrealized losses piled up, Silicon Valley Bank (SVB) gradually, then suddenly became insolvent, followed by the collapse of Signature Bank and people beginning to wake up to issues pervading our financial system. Modern day bank runs, though digital, can force banks to sell reserve assets at a loss, inevitably leading to insolvency.

The scenario playing out before us is a stark illustration of what happens when trust starts to break down in a system fundamentally based on the idea of trusting, rather than verifying. In modern times, people think they need to hold their money in banks, but they have to trust the banks to maintain effective risk-management strategies in order to secure their deposits.

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I'm Nate Houstman

I'm a blogger, podcaster, and web design and business consultant. Economic freedom is my mission, so I talk about money, entrepreneurship, and I expose the corruption in the financial system.

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