ECONOMICS

While New York City embarks on a program to hand out some $53 million in prepaid debit cards to illegals, the city has estimated that overdue property taxes are set to reach their highest level ever, jumping 30% to over $880 million at the end of the fiscal year in June, vs. three years ago. City officials attribute this to the expiration of a tax-lien sales program that would punished delinquencies by allowing the city to sell liens on single-family homes and condos after three years (more…)

President Joe Biden in late February said "unprecedented action" is being taken in response to an emerging scenario where "China’s policies could flood our market with its vehicles, posing risks to our national security." He said at the time, "China is determined to dominate the future of the auto market, including by using unfair practice."

This is but one leading example of what Beijing has complained about as being hardline moves of Washington targeting (more…)

Authored by Peter St. Onge via The Epoch Times (emphasis ours),

In case you’ve still got money in a bank, Bloomberg is warning that defaults in commercial real estate loans could “topple” hundreds of U.S. banks.

Leaving taxpayers on the hook for trillions in losses.

The note, by senior editor James Crombie, walks us through the festering hellscape that is commercial real estate.

To set the mood, a new study predicts that nearly half of downtown (more…)