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Capitalism’s Looming Crises: From Budget Debt Hyperbole to Banking Disaster

by Jeff Mackler, published on Socialist Action, March 24, 2023 President Joseph Biden presented his third annual budget proposal at $6.8 trillion on Thursday, March 9. A day later Silicon Valley Bank (SVP), in Santa Clara, California, the nation’s 16th largest, declared bankruptcy, followed days later by New York City’s Signature Bank. A half dozen others faced similar and immediate[…]

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