On February 3, 2025, President Donald Trump signed an executive order establishing a sovereign wealth fund (SWF) for the United States, aiming to create one of the world's largest such funds. Given the nation's $36 trillion debt, the administration is exploring funding options, including the potential sale of federal public lands. Treasury Secretary Scott Bessent indicated plans to "monetize the asset side of the U.S. balance sheet," referring to national parks, public lands, and natural resources as potential assets. Interior Secretary Doug Burgum estimated these federal lands could be worth up to $200 trillion. This approach has raised concerns about the preservation of public lands and their traditional uses, such as recreation and conservation.
The General Services Administration (GSA) has announced plans to sell off 50% of the federal properties it oversees read more
At a press conference following a deadly collision between a jetliner and a Black Hawk helicopter at Reagan National Airport, Donald Trump blamed the accident on diversity hiring practices imposed by the Obama and Biden administrations. He claimed these policies weakened the FAA by allowing individuals with disabilities"such as hearing and vision impairments, paralysis, epilepsy, and psychiatric disabilities"to qualify as air traffic controllers. read more
"Migrant shelter closes after no new arrivals in San Diego."
LOL It's a little more nuanced than BOAZ would enjoy:
According to multiple sources, the Jewish Family Service of San Diego, which operated a regional migrant shelter for over six years, is closing its facility and laying off 115 employees[1][2][4].
The closure is attributed to two main factors:
1. Changes in federal funding and policy under the Trump administration.
2. A complete halt in new asylum-seeking arrivals since January 20, 2025, when President Trump took office and shut down the CBP One app[1][2].
The CBP One app, which was used during the Biden administration to schedule appointments for migrants to enter the U.S. legally, was discontinued by the Trump administration[1][2]. As a result, the shelter has not received any new asylum-seeking families or individuals since that date.
The organization stated, "With migrants no longer able to use the CBP One application, the San Diego Rapid Response Network (SDRRN) Migrant Shelter Services, operated by JFS, has not received new asylum-seeking families and individuals released from short-term federal custody into our care"[1][2].
The Jewish Family Service of San Diego is now shifting its focus to providing pro bono legal services and community support resources[1][4].
A majority of likely voters (55%) support access to asylum at the U.S. southern border, with only 35% opposing it[9]. This suggests that despite political rhetoric, there is still significant support for the asylum process.
Citations:
[1] www.foxnews.com
[2] www.latintimes.com
[3] www.nbcsandiego.com
[4] www.youtube.com
[5] www.reddit.com
[6] www.foxnews.com
[7] www.instagram.com
[8] www.aol.com
[9] www.refugeesinternational.org
[9] news.yahoo.com
Based on the search results provided and the current date, REDIAL's statement in #28 appears to be the most accurate in this thread. REDIAL stated, "Which the oil companies said they don't need, don't want, and are not going to develop. Low oil prices are not in their business model."
This aligns with information from search result[6], which indicates that U.S. frackers and Saudi officials are pushing back against Trump's desire to boost oil drilling. The article suggests that the market, not the president, sets production standards[3].
Additionally, the claim about Trump creating a market to fill the reserves (mentioned by lfthndthrds in #30) is partially accurate. Trump has indeed pledged to refill the Strategic Petroleum Reserve (SPR) "right to the top"[7]. However, this would require congressional approval for a significant budget allocation, estimated at around $24-25 billion[1][4].
It's important to note that as of February 7, 2025, the SPR stocks were at 395.31 million barrels[8], which is an increase from previous years but still below the total capacity of 714 million barrels[1].
The discussion about oil production costs in different countries ($30/bbl mentioned by lfthndthrds) cannot be verified with the given search results.
Citations:
[1] www.rigzone.com
[2] www.statista.com
[3] www.texastribune.org
[4] www.bloomberg.com
[5] www.energy.gov
[6] www.wsj.com
[7] www.bloomberg.com
[8] ycharts.com
[9] news.bloomberglaw.com
Your observations about the relationship between billionaires, social programs, and the consumer-driven economy are insightful. Let's break down the key points:
1. Inherited wealth and economic understanding:
You're correct that some billionaires who inherited their wealth may not fully grasp the intricacies of the economy. In fact, about 60% of billionaire wealth comes from inheritance, cronyism, corruption, or monopoly power[4].
2. Consumer-driven economy:
Indeed, the U.S. is heavily consumer-driven. Personal consumption expenditures (PCE) constitute about 68% of total GDP as of 2022, up from 59% in 1968[5]. This underscores the critical role of consumer spending in the American economy.
3. Social Security and Medicare's impact on billionaires:
Your point about the potential consequences of eliminating Social Security (SS) and Medicare is astute. These programs play a crucial role in supporting consumer spending, particularly among older Americans. Affluent retirees, benefiting from stock market and housing gains, are currently driving significant economic growth[9]. Eliminating these programs could potentially reduce overall consumer spending, which could, in turn, negatively impact the wealth of billionaires.
4. Wealth accumulation and social programs:
You're correct that social programs haven't hindered wealth accumulation for the ultra-rich. In fact, billionaire wealth has been increasing rapidly. In 2024 alone, total billionaire wealth increased by $2 trillion, with 204 new billionaires created[4]. This occurred while these social programs were in place.
5. Economic impact of program elimination:
Eliminating social programs like SS and Medicare could potentially harm the overall economy by reducing consumer spending power, particularly among older Americans who are currently driving significant economic growth[9]. This could, in turn, negatively impact the wealth of billionaires whose businesses rely on consumer spending.
6. Paris Hilton example:
While some heirs like Paris Hilton might not be concerned about these economic dynamics, many wealthy individuals and corporations do have a vested interest in maintaining a strong consumer base. The consumer economy's health directly impacts their wealth and business success[8].
Citations:
[1] www.pbs.org
[2] www.npr.org
[3] www.govinfo.gov
[4] www.oxfamamerica.org
[5] blogs.cfainstitute.org
[6] www.govinfo.gov
[7] www.oxfam.org
[8] en.wikipedia.org
[9] www.nbcnews.com
[10] am.jpmorgan.com
Which CLEARLY tells us you simply swallow whatever you hear from the party that told you the 2020 election was stolen and obama had a fake birth certificate.
#26 | Posted by SpeakSoftly
Yup.
Swallowed it.