The world is headed towards a financial crisis for which the U.S. is not prepared!

Exxon warns oil inventories will hit dangerous lows in weeks
+ The Daily Voice (Rhinebeck, NY): Trump Says ‘Cancel It’ After Freedom 250 Concert Lineup Shrinks – [Editor’s note: Headliners withdraw after they learn this event has now been politicized.] – The fight over a major celebration tied to America’s 250th birthday has taken another sharp turn.
+ The Mirror US: Trump says he’s bigger than Elvis as he announces mega rally after America 250 humiliation – President Donald Trump has announced plans for a major rally in Washington, D.C., after a number of artists, including Bret Michaels, Vanilla Ice, and Martina McBride, withdrew from the America 250 concert at the last minute
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+ TIME: Justice Department Removes News Releases on Jan. 6 Prosecutions From Website: ‘Partisan Propaganda’
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+ yahoo!news: Trump’s Plan to Slap His Name on New York’s Penn Station Exposed
+ The Washington Post: Trump appointees push $250 banknote with his portrait
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+ The Washington Post: Trump’s approval plunges among his White working-class base
+ YouGov’s The Survey: Donald Trump drops to record-low for his presidential job approval
+ The Daily Beast: Pam Bondi Slapped With Scathing Ethics Complaint – A retired Florida chief justice and 120-plus lawyers want Bondi probed for “lawlessness” inside Trump’s DOJ.
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+ The Guardian (UK): The world is heading toward a financial crisis – the state of US politics has left us ill-prepared
A bona fide financial crisis has not broken out since the US housing meltdown of 2007. Even the Covid pandemic and subsequent upsurge in inflation didn’t lead to financial upheaval. The jitters produced by the collapse of Silicon Valley Bank in 2023 were soon forgotten.
Given this stability, it might take some effort to convince financial markets that another big one is around the corner. But it is. Financial markets and their regulating governments may believe they have acquired immunity, but the world is careening toward a moment of financial upheaval that could well dwarf the damage caused by the last one.
What’s most scary about this approaching moment is not the specific nature of the crisis, but the incompetence with which it will be handled. accessible text
+ CNBC: Exxon warns oil inventories will hit dangerously low levels in weeks, forcing prices to shoot higher
+ Raw Story: Trump sitting on ‘ticking time bomb’ poised to send US into ‘permanent’ recession: expert
+ National Security Journal: Trump Has a Problem: America Is Running Out of Emergency Oil at Record Speed and the Strait of Hormuz Won’t Open
+ Truthout: Trump Admin Uses Iran War Oil Shock to Push Drilling in Alaskan Wilderness – The five-year plan is expected to cause 4,000 additional oil spills and the destruction of fragile ecosystems.
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+ The Guardian (UK): Former prosecutor pursued by Trump calls for crackdown on election lies: ‘Lying can be held to account’ – Andrew Weissmann argues for new law to hold political liars like US president accountable for harming democracy
+ MediaIte: 35 Former Federal Judges File Motion to Reopen Trump’s Lawsuit Against IRS to Block $1.8B Slush Fund
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+ MS.Now’s Chris Hayes: Trump’s ‘snake’ story is coming back to bite America – “Donald Trump is the snake. And we let him in. Twice. And now he is biting us, over and over and over,” says Chris Hayes.
Quoting Trump, “You knew damn well I was a snake.”
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