April 19 (Reuters) – Some 1,804 depository institutions tapped the emergency lending facility set up last March in the wake of Silicon Valley Bank’s collapse, amounting to about 20% of all eligible firms, the Federal Reserve said on Friday.
About 95% of the borrowers, which included banks, credit unions, savings associations, and branches and agencies of foreign banks, had less than $10 billion in assets, the U.S. central bank said in its semi-annual Financial Stability Report.
The House on Saturday passed a set of foreign aid bills that would send $61 billion to Ukraine, $26 billion to Israel, and $8 billion to the Indo-Pacific region.
In a new poll conducted by the Financial Times and Michigan’s Ross School of Business, data shows there is a rare bipartisan agreement among Republicans and Democrats – Both sides believe that there are no housing advantages for the their political opponents and 70% of leftists, independents and conservatives alike rate affordability as one of their top three concerns. In other words, Americans disagree on almost everything else, but they all recognize that most of them are in deep trouble when it comes to keeping a roof over their heads.
It’s not just the math, it’s the daily drain on people’s pocketbooks that makes the problem so undeniable.
While the Biden Administration has spent the better part of the past year claiming that “inflation is going down” the reality has been far more bleak. Surveys also show that 62% of homeowners has struggled at least periodically in the past year to make their mortgage payments and half of all renters also reported difficulty keeping up with monthly payments. Over 22% skipped meals, 20% worked extra hours and 20% sold belongings to pay their housing costs on time.
Disturbingly, 60% of poll respondents who make $100,000 or more per year also ranked housing costs at the top of their list of worries going into 2024. Meaning, the crisis is spreading well beyond low income families and is dragging down the middle class.
A hearing held earlier this week in New York by the Council’s immigration and hospital committees saw black migrants who have arrived in the city airing their grievances about public services they have been provided, including food and accommodation, with one woman even complaining that New Yorkers won’t learn Congolese languages.
A video out of the UK shows a man being visited at home by two police officers and an NHS psychologist after he expressed anger online about the stabbing of a Bishop in Sydney by an Islamist.
Bishop Mar Mari Emmanuel was stabbed by a 16-year-old boy at the Assyrian Christ the Good Shepherd church on Monday night, an attack that was caught on camera.
The teenager walked right up to the bishop as he was giving a sermon and furiously jabbed at him with a knife while shouting “Allahu Akbar” as onlookers desperately tried to wrestle him to the ground.
After the teen was pinned down, he could be seen smirking.
Now a new video has emerged showing how an Orthodox Christian man in the UK received a home visit from police and a psychologist for reportedly posting online, “Christians must stand up.”
The clip shows a female officer explaining how authorities had “a few concerns” about what the man had posted on social media.
“So why are you here today?” asks the man.
British police and a psychologist showed up at this man’s home because he had posted on social media “Christians must stand up” after Islamist attack on bishop in Australia. This usually happens in dictatorships. pic.twitter.com/FljQkb4j8c
The woman says the police have been told the man “might have a few concerns, a few things that are bothering you at the moment.”
“This is religious discrimination,” responds the man, asserting that the police wouldn’t be knocking on the door of a Muslim if they had made similar statements.
“People raised concerns about your views…about what’s going on in Australia,” the police officer continues.
Back in February, when everyone was predicting a Fed rate cut, precious metals expert and financial writer Bill Holter said rates would be going up and not down. Since that call, the 10-Year Treasury is up more than 30 basis points. It closed today at 4.67%. Now, Holter is still calling for higher interest rates that will coincide with higher gold and silver prices.
Why? It’s called inflation, and it’s not temporary.
Holter explains, “Foreigners are backing away from buying Treasuries…”
“That is the only thing that has kept the doors open, so to speak, is the fact we are able to borrow an unlimited amount of money because we are the world reserve currency.
Foreigners backing away from our debt is going to lead the Federal Reserve to be the buyer of last, and then, only resort. So, you will have direct monetization between the Fed and the Treasury.
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