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Conflict Looms: 25 Republican States Unite with Texas in Escalating Dispute with Biden Administration Over Border Issues

A group of 25 Republican-led states is supporting Texas after Governor Greg Abbott declared the migrant situation an 'invasion' and invoked the state's constitutional right to self-defense. Governors, including Kevin Stitt of Oklahoma and Ron DeSantis of Florida, have expressed solidarity with Texas, criticizing the Biden administration's border policies. This coalition views the federal government's approach as a breach of law, with Governor Abbott asserting Texas's authority to defend itself based on the Constitution, despite legal controversies around state versus federal jurisdiction in immigration matters.

The situation presents a challenging scenario for the Biden administration, especially during an election year, as it faces opposition from a significant coalition of states led by Texas. The conflict escalates political tensions, with Senate Minority Leader Mitch McConnell indicating a shift in Republican priorities, choosing to align with former President Donald Trump's focus on immigration for the 2024 campaign and moving away from bipartisan efforts on immigration and border security. This shift suggests a growing rift and potential legislative standstill on immigration and border policies. Read More.

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Investment Specialist Forecasts 'Inevitable Recession' in 2024 for the US — The Underlying Reasons

James Iuorio, the director of TJM Institutional Services, predicts a prolonged economic downturn for this year. Speaking on Fox's "Morning with Maria," he firmly believes the US will enter a recession. Despite widespread expectations of a recession since late 2020, the actual impact hasn't been as severe, possibly due to substantial government spending on jobs, economic stimulus, and other financial aids, which have mitigated the effects of inflation and high interest rates.

Iuorio suggests that the true extent of the recession has been masked by factors like low housing inventory and companies' reluctance to lay off workers after recent labor shortages. However, he points out emerging signs of economic distress, including consecutive quarters of reduced bank lending, rising credit card and auto loan delinquencies, and predictions by experts like Jaime Dimon and Howard Lutnick about the commercial real estate sector's significant impact on the US banking system. The expected downturn in commercial real estate, coupled with higher refinancing rates for maturing loans, may lead to substantial defaults, potentially causing a 10%-15% drop in stock values and prompting drastic actions by the Federal Reserve.

Iuorio advises caution in stock market investments, favoring assets like gold, silver, and non-commercial real estate, though he remains open to re-entering the stock market once it shows signs of recovery. Read Now.