The Secretary of Education has notified defaulted debtors; their loan payments are due May 5. Linda McMahon has sent four messages in one:

The United States is MMT’s monetary sovereign par excellence. Because the US is arguably the place in which MMT might be said to have the “best chance” of working, it is MMT’s favorite example to attempt to propagate their theory. That said, the US is actually not an example proving the validity of MMT, rather it is a compelling counter-example. When it comes to MMT’s commitment to chartalism or the state theory of money, the US disproves it.

Sales of previously owned homes in April declined 0.5% from March. That is the slowest April pace since 2009. Jobs and incomes aren’t nearly as good as we’ve been told. 

Massie is right, as usual. Most Republicans will vote for it anyway, and continue the US slide into bankruptcy. 

A stagnating economy means fewer vacations and less air travel. Airlines are feeling it. 

In this video, Senior Fellow Mark Thornton ‪discusses the economic implications of the historically high gold-silver ratio, suggesting it may signal an impending recession. He explains that central bank gold purchases are driving its price higher relative to silver, reflecting deeper market imbalances.

Ernest Hemingway wrote in his 1926 novel The Sun Also Rises, “How did you go bankrupt? Two ways. Gradually, then suddenly.” Artificial Intelligence (AI) tells me this snippet of dialogue between Mike and Bill is now “widely recognized as a metaphor for situations where something builds up slowly, like accumulated debt or a creeping disaster, before reaching a critical point and exploding suddenly.”

Bank failures happen the same way. Government protection and deposit insurance slows the inevitable—until it doesn’t.

The US government is on track to borrow more than two trillion dollars this year, but that’s going to require a lot of new loans from investors, and it’s looking like there is limited investor appetite for ever larger amounts of federal Treasurys.