National Populist Newsletter

November 5th-12th

News:

United States

• Immigration

Department of Homeland Security Secretary Mayorkas told Sen. Lindsay Graham that the asylum rejection rate is approximately 75 percent. (Adam Shaw)

Senate Republicans released their counterpart to the House GOP’s H.R. 2. Politico reported that the bill's chief sponsors (Sens. Graham, Cotton, and Lankford) have proposed reforming asylum by increasing the bar for credible fear and making migrants ineligible for asylum if they passed through another country before showing up at the U.S. border. The bill also continues the construction of the border wall, revives “Remain in Mexico,” changes parole, and expands Title 42. While Senate Democrats say none of these policy proposals will be part of their border package, Republicans may hold up funding for Ukraine and Israel unless Biden concedes on some of these proposals. (Politico)

The Biden Administration rewarded $950 million in contracts to repair and upgrade part of existing border wall construction in Arizona, California, and Texas. This money is from Trump-era congressional appropriations. (Fox News)

• Economy

An auction of 30-year government bonds ended in disaster as fewer parties were willing to buy American debt. The weaker-than-expected sale triggered an aggressive selloff in the long-dated bond and sent U.S. stocks toward New York session lows. Federal Reserve Chairman Jerome Powell was forced to increase the rate dramatically, the most significant single-day jump since June 13, 2022. In simple terms, large holders of American debt (China, Japan, Saudi Arabia, and Russia) are no longer willing to buy more and are trying to sell what they have. Investors are growing concerned about America’s economic stability because there’s too much federal spending and debt. (Morning Star)