_{ECONOMIC NEWS}
Global Economic Doom: McCaul Warns of Catastrophic Fallout if China Invades Taiwan

In a dire warning, House Foreign Affairs Chairman Michael McCaul emphasized the catastrophic global economic consequences of a Chinese invasion of Taiwan. He stated that such an invasion would make the Iran-Israel conflict look like "child's play."

The island of Taiwan, critical for global semiconductor manufacturing, could see its industry decimated, leading to an unprecedented global shutdown. McCaul noted that 90% of advanced semiconductor manufacturing occurs in Taiwan, and the loss of this industry would cripple global economies, affecting everything from phones and cars to advanced weapons systems.

Following aggressive military drills by China in response to Taiwan's pro-independence stance, McCaul painted a grim picture. A full-scale invasion, involving blockades, cyberattacks, and bombings, could lead to an "electronic shutdown" and an economic spiral worse than the COVID-19 pandemic. This would impact Americans in every corner of the country, disrupting essential electronics and military systems.

McCaul stressed the urgency of relocating semiconductor manufacturing back to the U.S., but acknowledged the timeline for such a shift remains uncertain. He warned that if China invades Taiwan, the island would not survive, leading to a global economic crisis. This dire prediction underscores the severity of the situation, urging immediate action to prevent such a disaster. Read More.

_{FINANCIAL NEWS}

US Job Growth Plummets: Unemployment Rises as Economic Uncertainty Looms

The US economy is teetering on the brink, with just 175,000 jobs added in April, marking the slowest growth since last October and a significant drop from the 315,000 jobs added in March. Unemployment has climbed to 3.9%, raising alarms about the health of the labor market.

The Federal Reserve's efforts to cool inflation by raising interest rates have led to a marked slowdown in job creation. This unexpected dip has sent shockwaves through the economy, sparking fears of an impending downturn. The stock market's brief rally in response to the news belies the underlying economic instability.

Semiconductors, crucial to every sector from healthcare to military defense, are a critical component of this crisis. With nearly half of April's job gains in healthcare and social assistance, other industries like transportation and retail are struggling to keep pace. The labor force participation rate remains stagnant, and wage growth has slowed significantly, indicating deeper issues within the economy.

Economists warn that this job growth slowdown could be the harbinger of a more severe economic collapse, reminiscent of the 2020 pandemic's impact on global markets. As the Federal Reserve remains focused on curbing inflation, the risk of a full-blown recession looms large, with the potential to plunge millions into financial turmoil.

The latest jobs report, with its modest gains and rising unemployment, paints a grim picture of the US economy's future. If the current trends continue, the country could face an economic catastrophe, with widespread job losses and economic instability. The next Consumer Price Index report will be crucial in determining whether the US can steer clear of a looming economic disaster. Read More.