The Biden administration unveiled tight restrictions on new operations in China by chipmakers that get federal funds to build in the US, potentially hampering efforts to expand in the world’s largest semiconductor arena.
Biden Stunts Growth in China for Chipmakers Getting US Funds
Tag: Department of Treasury
US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
The US Federal Reserve printed $300 billion in a week to save collapsing banks and bail out Silicon Valley oligarchs. 93% of Silicon Valley Bank’s deposits were uninsured, over the FDIC limit of $250,000, but the government still paid them. 56% of SVB’s loans went to venture capitalist and private equity firms.
US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
Raising Social Security’s retirement age would slam low-wage workers yet again
A proposal by Sens. Angus King (I-ME) and Bill Cassidy (R-LA) to raise the Social Security retirement age to 70 would be a massive benefit cut, particularly affecting low-wage workers. If Congress enacts it, millions more Social Security taxpayers would not live long enough to collect a cent in retirement benefits.
Raising Social Security’s retirement age would slam low-wage workers yet again
Related:
Social Security Solvency: Raised Retirement Age More Likely as Congress Fails to Compromise
Pentagon Mobilized to Support Tech Startups After Bank Failure
The failure of Silicon Valley Bank presents the Defense Department with warnings—and opportunities.
Pentagon Mobilized to Support Tech Startups After Bank Failure
Taxpayers ARE on hook for bank bailout – and could even fund bankers’ bonuses
As regulators rush through emergency measures to prevent further chaos following the disastrous collapse of Silicon Valley Bank, there’s a point they’re very keen to emphasize: this is not a bailout.
Taxpayers ARE on hook for bank bailout – and could even fund bankers’ bonuses
Related:
Joe Biden stuck around just long enough to lie about who’s on the hook for SVB bailout
Michael Hudson: Why the US banking system is breaking up
Economist Michael Hudson responds to the collapse of Silicon Valley Bank, and explains the similarities with the 2008 financial crash and the savings and loan crisis of the 1980s.
Michael Hudson: Why the US banking system is breaking up
The government may stop issuing Social Security payments after the debt limit is hit — here’s why
An obscure provision of a 1996 law makes the Social Security trust fund vulnerable
The government may stop issuing Social Security payments after the debt limit is hit — here’s why (archived)
Sanctioning China Will Destroy The Dollar | America’s Ultimate Mistake
If the United States and its allies impose sanctions on China, this could be the greatest financial mistake in all of modern history. Unlike Russia, China is more resilient and has deeper ties across the global economy. Punishing China will likely backfire against the dollar and unleash a de-dollarization wave that could knock it off the reserve status. Here’s what you must know!
Sanctioning China Will Destroy The Dollar | America’s Ultimate Mistake via Sean Foo
Related:
One Year After Russia Mega Sanctions, Senate Asks ‘Can We Do Same To China”
Washington Seeks to Drum Up Support for Sanctions on China
The Joe Biden administration is pressuring allies to sanction China if Beijing decides to send arms to Russia, Reuters reported on Wednesday. Top American officials have claimed the Chinese government is considering providing weapons for Moscow’s war in Ukraine.
Washington Seeks to Drum Up Support for Sanctions on China
Related:
US House committee advances slew of sanctions bills related to China and Taiwan
Yellen Says US Will Send $10 Billion in Economic Aid to Ukraine
Yellen Says US Will Send $10 Billion in Economic Aid to Ukraine
The US has already provided about $13 billion in budgetary aid to Ukraine, which pays for government services, pensions, and healthcare
…
“In the coming months, we expect to provide around $10 billion in additional economic support for Ukraine,” she said.
Additional aid will be pulled from the $45 billion Congress authorized to spend on Ukraine in December. So far, the US has approved $113 billion in spending on the war, which includes military aid, training, funds for the Pentagon to replenish stockpiles and pay for troop deployments, and economic assistance.
Inflation, Fiscal Conservatives?! *crickets*
Ms. Cat’s Chronicles 
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