Joe Biden’s policies are working, at least on paper, but many average citizens only see despair
There’s been a debate lately in the United States about the supposed success of President Joe Biden’s economic policies and the “vibecession” (a perceived recession based on a pessimistic outlook on the economy, term coined by financial influencer Kyla Scanlon) apparently taking place, which has been led by one X (formerly Twitter) user named Will Stancil.
Will argues that Bidenomics – the collective name for the current administration’s economic strategy, which is directed ostensibly at supporting the working class, reducing income inequality, and strengthening the social safety net – is working. The US economy is red-hot and, on the back of historically low unemployment, labor finally has the power to push for higher wages and fairer contracts, which ought to be making people’s lives better.
But, as is always the case, the internet disagrees, and people’s lived experience contradicts the hard numbers. X users shouted Stancil down with the fact that property prices are through the roof, so much so that Generation Z can probably never even fathom home ownership. Others are pointing to the fact that most Americans still live paycheck-to-paycheck, which means that any semi-large financial event could see them on the streets. .....more below
The European Commission has announced plans to “strengthen” the borders of nine member states
The European Commission unveiled a strategy on Wednesday to reinforce nine EU member states bordering Russia, Ukraine, and Belarus, by means of the ‘European Drone Defense Initiative’. Previously dubbed the ‘drone wall’, the plan has faced criticism over its feasibility.
Russia has repeatedly dismissed Western claims of being a threat to NATO or EU nations, calling the narrative “nonsense” and “fearmongering” meant to justify inflated military budgets.
Announced by the commission’s executive vice president, Raffaele Fitto, the plan includes Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Romania, and Bulgaria. Brussels says that these nations are facing reduced investment, demographic pressure, and “hybrid” threats linked to the Ukraine conflict.
The new strategy includes a €28 billion ($33 billion) loan program, as well as commitments to implement ...
Washington’s initiative seeks to secure a supply chain for AI, semiconductors, and critical minerals
India has joined the US-led Pax Silica alliance, which aims to secure a supply chain for artificial intelligence, chips, and critical minerals.
The Pax Silica declaration was signed on the sidelines of the AI Impact Summit currently underway in New Delhi.
Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the UAE, and the UK are the other signatories of the declaration, according to the US State Department.
Canada, the European Union (EU), the Netherlands, the Organization for Economic Cooperation and Development (OECD) and Taiwan are non-signatory participants.....more below
