The Silicon Valley Bank Collapse: Exposing the Fragility of Capitalism
Last week, Silicon Valley Bank (SVB), a small bank focused on investing in tech companies, suddenly collapsed, sending shockwaves through the financial markets. The collapse raises fears that another, bigger collapse is coming, something like what happened in 2008. While this doesn’t seem immediately likely, anything is possible. The capitalist system today is very unstable, […]
32 States Cut Back Food Assistance
Food stamp programs are being slashed in 32 states. These cuts will affect 30 million people who rely on the Supplemental Nutrition Assistance Program (SNAP), each losing about $92 per month. The states that will be most affected are California and Texas, which have 5.1 and 3.6 million people on SNAP. Some 18 states such […]
Eight Migrants Killed in a Boat Off the Coast of San Diego, California
The Biden administration, in spite of its promises, has maintained the same hostility to migrants as the Trump administration. Under the same emergency health law, invoked during the COVID crisis, border agents have the right to turn people away at the border who would otherwise have the right to seek asylum in the USA. One […]