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The Trump administration is working toward cutting illegal migrants off from federal tax benefits and money transfer services, Treasury Secretary Scott Bessent said Friday. “At [President Trump’s] direction, we are working to cut off federal benefits to illegal aliens and preserve them for U.S. citizens,” Bessent wrote on X. As part of the effort, the Treasury Department will propose new regulations “clarifying that the refunded portions of certain individual income tax benefits are no longer available to illegal and other non-qualified aliens, covering the Earned Income Tax Credit, the Additional Child Tax Credit, the American Opportunity Tax Credit, and the...

Chat, how cooked are we? October's Interest payment on US debt was a record $104.4 billion.This is how empires fall. 🇺🇸 pic.twitter.com/vOhQYdFDJC— Jesse Cohen (@JesseCohenInv) November 26, 2025That's $104.4 BILLION for a single month. My Q4 tax payment fighting financial apocalypse: In the very near and immediate future, our interest payments (that's the key word here) will be so large that they will even eclipse all military spending. The only item we'll be spending more on is Social Security, which only makes things even worse! At this pace FY26 interest payments alone will top $1 trillion — more than the...

Governments assume they can print as much currency as they like and it will be accepted by force. However, the history of fiat currencies is always the same: first governments exceed their credit limits, then ignore all the warning signs and finally see the currency collapse. Today, we are living the decline of developed economies’ fiat currencies in real time. The global reserve system is slowly but decisively diversifying away from a pure fiat currency anchor towards a mixed regime where gold plays the dominant role, not fiat currencies. IMF COFER data show that, while the US dollar still dominates,...

Opponents of a pair of radical California “green” mandates were handed a mixed bag in court last week as the Ninth Circuit Court of Appeals temporarily paused implementation of one state law but allowed another to remain in place for now. The brewing court battle could have serious implications for businesses nationwide – and the entire U.S. economy. The first law in question, SB 261, titled “the Climate-Related Financial Risk Act,” requires companies operating in California with more than $500 million in annual revenue to publish a report outlining their “climate-related financial risks.” Critics argue that SB 261 effectively compels...

Bridgewater founder Ray Dalio joins 'Squawk Box' to discuss concerns over an AI bubble, the history of economic bubbles, what investors can do in response to bubble fears, state of private credit market, problems around debt, his thoughts on bitcoin, and more. Bridgewater founder Ray Dalio: We are definitely in a bubble, but that doesn't mean you should sell | 9:10 CNBC Television | 3.29M subscribers | 88,329 views | November 20, 2025 on CNBC Television website

China’s CIPS payment system now operates in 185 countries, enabling yuan-based trade outside the dollar. 52 trillion yuan in transactions were settled through CIPS in 2023, covering 58% of China’s cross-border flows. BRICS launched a yuan-pegged stablecoin and plans rupee bonds to expand use of local currencies. The BRICS-linked Cross-Border Interbank Payments System (CIPS) has expanded across 185 countries, allowing international payments in Chinese yuan without using the U.S. dollar, according to data from the New Development Bank (NDB). CIPS was launched by China and managed by its central bank as “a real alternative for global trade settlements.” At the...

Ashley Sharp reports.

President Trump proposed 50-year mortgages to improve housing affordability by lowering monthly payments. While longer terms reduce payments, they also slow equity buildup and are currently not allowed under the Dodd-Frank Act.

(The Economic Collapse Blog)—What is the Fed not telling us? The numbers clearly indicate that big trouble is brewing in the banking system. I wish that I could specifically tell you which banks are in the most trouble, but at this stage we simply aren’t being told anything. They probably figure that the best approach is to try to keep everyone as calm as possible. But they won’t be able to keep a lid on what is going on indefinitely, and when word finally gets out people could start to panic. In recent weeks, bank reserves have fallen to alarmingly...

Obviously both are important and require a massive shift away from the status-quo, but if you had to pick one, which is more critical for the well-being of America?I'd personally think immigration reform is slightly more important, but understand if that's not as critical to some others.

A financial expert sensationally cut short an interview with entitled illegal immigrants who revealed they were $420,000 in debt but said they still 'deserved' a new Toyota Tacoma and a house with a pool. Caleb Hammer had a couple from Phoenix, Arizona on his YouTube show 'Financial Audit,' in which he conducts an audit of his guest's finances to help them get out of debt. The couple told the host in the episode, entitled 'These Illegal Immigrants are F***ed,' that they are Dreamers who came to the United States as children aged nine and five. Dreamers are undocumented immigrants who...

The Federal Budget Balance, a key indicator of the health of the U.S. economy, has reported a significant swing into surplus territory. The actual figure for the month came in at $198.0 billion, a stark contrast to the previous month’s deficit of $345.0 billion. This substantial change in the budget balance has exceeded all expectations. Analysts had been forecasting a continued deficit, making this surplus a welcome surprise. The shift from a hefty deficit to a surplus indicates a robust increase in the federal government’s income relative to its expenditure for the reported month. The surplus of $198.0 billion not...

Regional bank stocks tumbled on Thursday after Zions Bancorp said it would write off fraudulent loans made to two borrowers, adding to investors’ fears about lending standards and stress in credit markets. Zions Bancorp (ZION) on Thursday said it had recently identified “what it believes to be apparent misrepresentations and contractual defaults” by two borrowers. As a result, it plans to write off $50 million of the $60 million outstanding on the affected loans. Shares of Zions dropped 13% on Thursday, leading regional banks lower. The KBW Regional Banking Index fell 6%. The recent bankruptcies of two companies in the...

A guy I know just had his truck repossessed. He claims he was current on his payments and because I used to be in the auto remarketing many years ago, he called (texted) me for assistance. He bought the truck and financed it with Tricolor. Here's the AI info...

Many Americans love the feeling of driving a new car, but the price of that thrill is pushing household budgets to the edge. Auto loan delinquencies are spiraling, the nation now owes a staggering $1.66 trillion in auto loans, and some figures show scary similarities to the period right before the 2008 financial crash. That’s according to a new report titled “Driven to Default: The Economy-Wide Risks of Rising Auto Loan Delinquencies” from the Consumer Federation of America (CFA). It describes auto finance in the US as being “at breaking point,” and criticizes Congress and the country’s federal watchdogs for...

People are turning to AI chatbots for anything from writing emails to planning holidays. But can they be trusted with our finances? A few months ago, a fellow journalist asked me: “Do you invest? Do you think you will be able to retire with a million dollars?” Thinking back on the mild heart-stopping fluctuations I'd seen in my portfolio amid tariff uncertainties, I replied that I wasn’t sure. He suggested I get some feedback from ChatGPT. Unfazed by the skeptical look I gave, he persisted. “Try feeding (it) your portfolio and see what it says.” I was intrigued, and later...

It’s time to call a spade a spadeThe notion that the Fed is some kind of sterling institution needs to be put to bed. This is particularly true of the Powell Fed which has experienced multiple scandals involving criminal activity. The fact that no one went to jail because “laws are for little people” doesn’t absolve the Fed.Let’s wind back the clocks.During the pandemic, when millions of people were losing their jobs, despairing of their futures, and terrified of dying, senior Fed officials were making MILLIONS of dollars trading on insider information based on Fed policy decisions.Specifically, three Fed Presidents,...

Good for Mayor Eric Adams for suing the Campaign Finance Board over its outrageous, undemocratic bid to rig the mayoral race against him. Even if he doesn’t receive timely justice, he’s at least helping expose a system that needs drastic reform or even complete elimination. Hizzoner wants the board to fork over $5 million in matching funds he argues it has unfairly denied him. The board’s “conduct is unconstitutional and the height of arbitrary and capricious governmental action,” Adams’ filing states. “The agency must be held to account for its pernicious conduct.” Damn straight. The board first began withholding funds...

Homebuyers are gaining power in much of the country. Just not in the wealthy, pricey East Coast.Consensus is growing among economists that home prices will flatline or even fall on a national level in 2025 as the housing market spends a third year stuck in a deep slump. But those national trends mask a housing market that looks increasingly fractured, with prices rising in many cities in the Northeast and Midwest, and falling in parts of the Southeast and Mountain West.In the stretch of cities between Richmond, Va., and Portland, Maine, homes are still selling at almost as frenetic a...

In this episode of The Real Eisman Playbook, Pulitzer Prize-winning journalist Gretchen Morgenson discusses her career in investigative journalism, focusing on the dark side of Wall Street, the AIG scandal, and the financial crisis. She highlights the role of private equity in modern finance and its impact on various industries, including healthcare. Morgenson emphasizes the importance of exposing corporate fraud and the need for accountability in the financial sector.