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The “rich people” with money in Silicon Valley Bank are the real winners in President Joe Biden's handling of the California-based bank’s collapse, economist Peter St Onge says.
After the fall of Silicon Valley Bank over the weekend, the Biden administration announced that the Federal Deposit Insurance Corp. will cover all depositors' money there.
Normally, the Federal Deposit Insurance Corp. is responsible for covering deposits up to $250,000, ensuring that most small businesses and individuals are financially protected from a collapse. But in this case, the FDIC is going far beyond that $250,000 cap to cover every deposit in Silicon Valley Bank, regardless of the amount.
“If the administration gets away with this, then we are going to start moving into a world where bankers, where Wall Street, feels like they can take any risk they like, because this is all going to get bailed out because you've got these human shields,” St Onge, a research fellow in economics at The Heritage Foundation, says. (The Daily Signal is Heritage's multimedia news organization.)
Ultimately, the federal government’s actions to protect Silicon Valley depositors probably will result in higher inflation, St Onge says. “I think we're very likely to see a lot more inflation,” he says.
St. Onge joins this episode of “The Daily Signal Podcast” to discuss how Silicon Valley Bank collapsed and what Biden’s actions mean for the nation's economy.
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The Right must fight back in the information war waged by left-wing media, Federalist Editor-in-Chief Molly Hemingway says, adding that conservatives should take their cues from how Florida Gov. Ron DeSantis treats "false reporting."
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On today’s Daily Signal Top News, we break down:
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https://www.dailysignal.com/2023/03/11/antifa-assaulted-me-at-a-detrans-rally-heres-what-happened/
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Kenny Xu, author of "An Inconvenient Minority: The Ivy League Admissions Cases and the Attack on Asian-American Excellence," joins the show to explain how the woke agenda made its way into medical schools.
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Some on the Left claim that it violates the separation of church and state to be pro-life or pro-family, Rabbi Yaakov Menken says. His organization, the Coalition for Jewish Values, demonstrates that conservative values have a broad appeal beyond Christians. The coalition represents Orthodox Jews who often feel rejected by Jewish organizations that adopt the Left's agenda.
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On today’s Daily Signal Top News, we break down:
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OXON HILL, Md.—A leading national security expert is weighing in on how the Chinese Communist Party is exploiting the ongoing war between Russia and Ukraine.
"It's a good question, because who wins the war against Russia, Ukraine? Who wins the war against NATO, the West, and Russia? China wins this war, because they let us go at each other," said K.T. McFarland, who served as President Donald Trump's deputy national security adviser and also served in the Reagan, Nixon, and Ford administrations.
"China knows the longer this goes on, the more the United States' spending $100 billion a year [in Ukraine], the more we're spending our resources in Europe, and the less we're focused on China," McFarland says. adding:
So, meanwhile, China's building up its own military. It's building up its own trade relationships with a lot of countries. So, they're perfectly happy with the United States to be preoccupied with Russia and Ukraine and not focusing on China—because, look, China's the real gorilla. They're the real strategic threat.McFarland joins today's episode of "The Daily Signal Podcast" to comment on how Ukraine can "win the peace" in its war against Russia, reports that China may be supplying Russia with lethal aid, and how to bring the threat of the Chinese Communist Party into focus for the American people.
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On today’s Daily Signal Top News, we break down:
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A new book exposes the "lie" of transgender identity, the damage it does to children and families, and the money trail propping it up, the authors say.
"The transgender movement is actually an industry," Jeff Myers, president of Summit Ministries and one of the book's co-authors, told The Daily Signal in an interview Wednesday. Pharmaceutical companies and activists use it "to elevate themselves into positions of political power and to earn obscene profits."
The book, "Exposing the Gender Lie: How to Protect Children and Teens from the Transgender Industry's False Ideology," went live Wednesday and is available in a free ebook version on Summit's website. Myers co-wrote the book with Brandon Showalter, a reporter at The Christian Post.
Myers and Showalter join "The Daily Signal Podcast" to discuss their new book and expose the transgender lie.
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On today’s Daily Signal Top News, we break down:
Relevant Links
Listen to other podcasts from The Daily Signal: https://www.dailysignal.com/podcasts/
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Listen to more Heritage podcasts: https://www.heritage.org/podcasts
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