No, but if the US federal government starts getting involved, they can funnel a huge volume of money into it.

You should think of these as vehicles to prop up the value of the US dollar, which are fundamentally disconnected from the real economy in the real world. The US will then use the high value of the US dollar, propped up by virtual capital, to then wreck the other countries’ economies and their real sectors. That’s the power of finance capital.

As the article you posted says, extending Trump’s tax cut would cost $4.7 trillion over the next 10 years.

Let me remind you that the US interest payment now costs $1 trillion in one year alone. That’s how aggressive Biden’s rate hikes are - the fastest since Volcker shock in 1980.

Also, we’re not even talking about Biden’s ability to give Ukraine $175 billion yet in just 2 years of the war (most of which will flow back to the US and their donor class). If they can ramp up the war in Ukraine, Israel and now it looks like Lebanon as well, and keep it going over the next few years (the next decade?), they can now pump out as hundreds of billions more every year at their whim for their proxies.

As I said in another comment here, both Biden and Trump are known quantities. They both have their report cards. Has Trump managed to give out $175 billion like Biden has given to Ukraine? Does he even have the ability to do that - strong-arming the Congress and bend them to his will like Biden is capable of?

It simply means that undocumented spouses of US citizens don’t have to leave the country to apply for legal residency (which could take years) and can continue to work in the US while waiting for their application to be approved.

That’s it. That’s the announcement.

Yes, and what’s interesting about this election cycle is that both Biden and Trump are known quantities.

Both have a report card of their 4-year tenure as president that the bourgeoisie can directly compare. Biden very obviously loses points in age and perceived senility, and the Democrats will have to demonstrate that they can keep the grift going even without Biden.

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I don’t know about Trump going to jail but they’ll certainly make it hard for him during the election.

Trump probably still has the support of his cult of MAGA culture warriors which will keep him going for a while, but I think it will ultimately come down to how much can he secure the backing of the mega bourgeois donor class, the only class that matters in America.

This tracks with the news yesterday that the US has been quietly deploying a record number of troops in Jordan.

The war in the Middle East is turning hot.

This recent article by Michael Hudson on US Cryptocurrency as an Offshore Banking Center really convinced me that crypto, AI and eventually, UFO/UAP are the next frontiers of the US dollar grift.

The most fascinating thing about this is that none of these technologies even need to be functional, simply the appearance or imitation of the real technology, like an LLM chat bot that imitates real human speech but without any of its substance, is enough convince investors to throw billions upon billions of dollars into the pot to keep propping up the US dollar in the realm of virtual capital.

I’m fairly certain that we’ll see the same from the UFO/UAP front within the next decade or so, as the grift on green technology has run its course.

AOC.

Her endorsing Biden just a couple months before the Gaza genocide went down really showed that she is an incredibly astute and intelligent politician who could sense where the wind is blowing. I am certain that she will be cruising her way to the Democratic presidential nominee by 2028.

Struggle session veteran with Vietnam War level PTSD

Can you imagine Hexbear reactions if this happens when Kissinger died?

HE’S FINALLY DEAD!

No, actually he’s still alive.

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US federal interest payments have now exceeded its defense spending

Neoclassical model debunked in a single chart.

Raising interest rates because the government has “printed too much money” led to more money being printed as a result of interest payout, simply by virtue of the gigantic volume of the US treasuries, something that I have been saying for more than a year now.

Joe Biden has succeeded in creating more wealth for the rich than any of his predecessors has ever managed, and this is why he, not Trump, will have the full backing of the bourgeois class.

The Christ Chomsky has returned from the dead.

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China’s gonna collapse for real this time.

It was unthinkable even 2-3 years ago that Putin would bring half of his government to visit North Korea lol!

They’re only doing this because they have been forced to do that, not because they have any natural affinity or ideological compatibility with the DPRK.

The pariah state was a joke though. Russia should take that as a compliment now that it has joined the ranks of Axis of Evil pariah states.

Ukrainian summit in Switzerland redraws the world map (Moskovsky Komsomolets)

It is important for Russia not to miss the moment of friendship

But in general, if you look at the world map with the list of participants and non-participants of the “summit”, you can see a map of the world from the time of my youth, in which the USSR and the social bloc still existed. Those who did not come to the “peace conference” were mainly friends of the USSR and the countries of the social bloc - South and Latin America, Africa, China, and the Global South in general. And the explanation is very simple: this whole “peace conference” was quite obviously not “for Ukraine”, but against Russia. It is quite possible to agree with the writer Prilepin: “It is easy to notice that the political forces, one way or another, left to us as a legacy by the Soviet Union, the inertia of whose influence is still great and it would be unreasonable to underestimate it,” were largely absent from the summit.” I would add that this inertia received an additional impetus when Russia launched the Special Military Operation and for the first time dared to challenge the West.

In Russia they began to see the image of the USSR - the country that led the anti-colonial movement. And it is absolutely obvious and natural that our current friends are countries with left-wing socialist regimes, countries dominated by communist ideology, countries fighting for independence and trying to break out of the shackles of neo-colonialism. (We should not miss this moment ourselves and finally decide on our own ideology.)

lol. The former Komsomol turned pro-Putin liberal semi-mainstream press now suddenly remembers the socialist legacy of the USSR.

French far right pulls manifesto that included controversial Russia, NATO plans (Politico)

The now-deleted documents proposed a closer “alliance” with Russia and exiting NATO.

PARIS — With the countdown to the French snap election underway, is the National Rally wobbling on its Russia-friendly defense agenda?

The far-right party has quietly removed part of its defense policy offering from its website, deleting sections that proposed deepening diplomatic ties with Russia, halting cooperation projects with Germany and exiting NATO’s integrated military command.

The deleted proposals hailed from Marine Le Pen's presidential run in 2022, in which her party had laid out 17 thematic booklets outlining its proposals across all policy areas. While 16 booklets remain online, the one on defense was removed from the web page some time after June 11. It can still be found online at a page that is no longer linked to on the party's website.

…

In the manifesto, the National Rally had advocated distance from Washington while trying to engage with Moscow. Noting that Washington "does not always behave as an ally to France," Le Pen's program in 2022 proposed to seek "an alliance with Russia on certain issues," such as European security or combating terrorism. The withdrawn document also said that France should "immediately" leave NATO’s integrated military command.

The deleted document also proposed "to put an end" to cooperation projects with Germany in the military sector, given "a deep and irreconcilable doctrinal, operational and industrial divergence with Berlin." Those include plans for jointly developed next-generation battle tanks and next-generation fighter jets. In recent months, the National Rally has toned down some of its most controversial positions.

In March, National Rally lawmakers abstained on a vote on military aid to Ukraine, while MPs from the left-wing France Unbowed voted against. The same month, the National Rally's rising star and president, Jordan Bardella, told POLITICO that France should wait for the end of the war in Ukraine before leaving the military alliance’s integrated command. Bardella is slated to become prime minister if the National Rally wins the parliamentary election.

In its program for the 2024 European election, the party didn't reiterate those proposals. Instead, it said that "Russia [was] violating international law and provoking a revision of the international order."

In recent days, the National Rally has also backpedaled on some of its most expensive economic proposals, as the prospect of having the far right in power is spooking markets.

lol. How many times do we have to say that nobody in Europe, especially the far right, will ever pose a meaningful opposition to NATO and their American masters?

Has nobody learned the lesson from Italy’s Meloni? Whenever they’re about to get into power, they’ll change their tune.

I’ll start memorizing verses from Capital and their chapters so I can drop them randomly on Hexbear threads to be annoying.

War must be going so well for Russia that Putin has to run to North Korea and beg Kim for ammunitions lol. Russia has really been relegated to a pariah state now.

(cont’d)

Final note: because eurozone countries do not have monetary sovereignty (i.e. they cannot create their own currency), the governments effectively function like a state government under a federated system that needs to finance its own spending through taxation and borrowing. None of the benefits of the fiat system applies to the member states of the eurozone.

Also, I have omitted the foreign sector (trade) for simplicity’s sake. But the upshot is that as long as you have energy sovereignty, food sovereignty and low external debt (denominated in foreign currency), your fiscal constraint using a fiat currency system is going to be a lot less as long as the goods and services are purchasable in the currency you can create. Unfortunately many Global South countries need the dollar to import essential commodities, as well as having borrowed in dollar-denominated debt, which makes it much harder for them to spend in large quantity in their own currency.

This is more of a matter of colonialism/imperialism and very little to do with “printing too much money will cause inflation” or “the government cannot spend more than what it earns” which are all neoliberal myths.