Another 'cockroach': subprime auto-lender PrimaLend enters bankruptcy. PrimaLend finances "buy here, pay here" auto dealerships, which target low-income borrowers
- Zero Hedge, 22 October 2025
As auto loan delinquencies soar, reposessions on track to break record
- Zero Hedge, 22 October 2025
Shares of Beyond Meat soar from $0.50 to $5.00 within a few days, as meme traders squeeze other traders who had shorted the stock
- Comcast's CNBC, 22 October 2025
Shares of Beyond Meat soar from $0.50 to $5.00 within a few days, as meme traders squeeze other traders who had shorted the stock
- Zero Hedge, 22 October 2025
Canada: a socialist paradise lost: a stagnant economy, government and household debt, a weak Canadian dollar
- American Thinker, 21 October 2025
Private sector banks are looking for assets or guarantees from the Trump administration that would back a private-sector loan to support Argentine President (and Trump buddy) Javier Milei.
- Murdoch's Wall Street Journal (locked), 21 October 2025
Mortgage rates will not fall below 6% anytime soon, a top economist says in grim forecast
- Realtor.com, 20 October 2025
One third of the people in the USA have more credit card debt than savings
- Zero Hedge, 20 October 2025
The bizarre bankruptcy at the heart of this week's regional bank meltdown. How did the banks incompetently not detect the fraud?
- Zero Hedge, 17 October 2025
Auto loan delinquencies surge 50% as cracks deepen across credit markets in the USA
- Zero Hedge, 17 October 2025
New credit fraud fears raise more worries about regional banks. Bank shares were hammered Thursday after ties emerged between several banks and borrowers accused of fraud.
- Comcast's CNBC, 17 October 2025
"This is crazy": Goldman Sachs stunned by regional bank meltdown; its clients demand answers
- Zero Hedge, 17 October 2025
Moody's says the banking system, private credit markets are sound despite worries over bad loans
- Comcast's CNBC, 17 October 2025
The peso of Argentina drops in value against the USA dollar, desptie a socialist bailout from the USA
- Buenos Aires Times, 16 October 2025
People in Argentina sell the peso, betting that the socialist bailout by the USA is doomed to fail. People in Argentina are convinced that even a flood of cash from the USA will not be able to stop another painful devaluation of the peso.
- Buenos Aires Times, 16 October 2025
13 reasons why gold has outperformed stocks since 2000, including: the Fed weakening the dollar, inflation, national debt, gold supply less than demand
- Real Clear Markets, 16 October 2025
JPMorgan CEO Jamie Dimon about recent sub-prime credit bankruptices: "My antenna goes up when things like that happen. I probably should not say this but when you see one cockroach there are probably more."
- Zero Hedge, 15 October 2025
The USA bailing out Argentina will not solve its seemingly endless economic problems. Politicians tend to spend beyond the means of Argentina, issue debt they cannot credibly service, print money to cover the difference and then rely (explicitly or implicitly) on inflation and defaults to wipe out the value of the money and the debt they issued. Will the next elections back President Javier Milei's plans to break this cycle?
- Ochs-Sulzberger's New York Times, 15 October 2025
LLoyds banking group sets aside further $1.07 billion for car-loan redress. The lender said it is now more likely that a higher number of historical cases are eligible for redress and that the level of compensation is above what had been anticipated.
- Murdoch's Wall Street Journal (locked), 14 October 2025
JPMorgan Chase CEO Jamie Dimon said Tuesday that bankruptcies in the U.S. auto market are a sign that lending standards grew too lax in the past decade-plus
- Comcast's CNBC, 14 October 2025
The AI [bubble] is fuelled by junk debt as crash fears grow. Analysts warn of rise 'circular' tech financing deals as more businesses cancel chatbot subscriptions [KM: junk debt - another way for the rich to get richer]
- Barclay's The Telegraph, 13 October 2025
Britain at risk of falling into a debt trap with a dependency on funding from Zhōngguó. Conservatives threaten to force Commons debate over the "selling out" of UK interests to Beijing.
- Barclay's The Telegraph, 13 October 2025
Home foreclosures in the USA jump 17% in Q3 of 2025
- Zero Hedge, 11 October 2025
Billions of dollars "vanished": low-profile bankruptcy rings alarms on Wall Street. The unraveling of First Brands, a midsize auto-parts maker, is exposing hidden losses at international banks and 'private credit' lenders.
- Ochs-Sulzberger's New York Times, 11 October 2025
Behind the collapse of First Brands, an auto-parts giant: a $2 billion hole and a mysterious CEO. Patrick James started out buying small Ohio factories and ended atop a messy conglomerate with piles of hidden debt.
- Murdoch's Wall Street Journal (locked), 11 October 2025
The very rich Larry Ellison and Oracle have rushed into the AI bubble, seeking its riches [at the expense of society], but Oracle is borrowing huge amounts of money to do so, most recently adding $18 billion in debt.
- Barron's, 11 October 2025
The increase in gold prices reflect the increase in the national debt of the USA. Neither will stop increasing.
- Barron's, 11 October 2025
People in the USA are falling behind on their car payments. Record delinquency rates on subprime auto loans signal that lower-income consumers are struggling as wages stagnate and unemployment ticks higher.
- Murdoch's Wall Street Journal (locked), 10 October 2025
Bankrupt auto supplier First Brands faces criminal investigation. The closely held company faces a federal probe after board directors discovered accounting irregularities, sources say.
- Murdoch's Wall Street Journal (locked), 10 October 2025
Bankrupt auto supplier First Brands faces criminal investigation. The closely held company faces a federal probe after board directors discovered accounting irregularities, sources say.
- Zero Hedge, 10 October 2025
The implosion of auto sub-prime lender First Brands is ripping through the private credit industry - and lenders are scrambling to minimize their losses
- Comcast's CNBC, 10 October 2025
Is private credit drowning in capital? The risk of market crowdedness is real, but opportunities remain for investors in the rapidly expanding private credit market.
- Morningstar, 09 October 2025
Editorial: [capitalists?] Trump and Pulte now want the government mortgage giants (Fannie Mae, Freddie Mac) to provide socialist subsidies to [capitalist?] home builders
- Murdoch's Wall Street Journal (locked), 09 October 2025
Equifax reduces prices for its credit score products, after FICO offers competitive services directly. Equifax will offer its VantageScore 4.0 mortgage credit scores for less than half of the price of FICO's scores through the end of 2027.
- Murdoch's Wall Street Journal (locked), 09 October 2025
The AI bubble is also now a debt bubble, quietly surpassing all bank debt to become the larest debt sector in the financial markets. [KM: well, another way for the rich to get richer]
- Zero Hedge, 08 October 2025
The financial damages due to the First Brands bankruptcy spreads to Jefferies and UBS. Banks are sifting through their exposure to the bankrupt auto-parts supplier and its chain of customers and suppliers.
- Murdoch's Wall Street Journal (locked), 08 October 2025
The landmark office buildings in the USA that are on financial 'life support'. For example, the Superman Building in Providence has been empty since 2013, despite a revival effort. "It is dead down here now."
- Murdoch's Wall Street Journal (locked), 08 October 2025
Rabobank: gold confirms the world has passed the fiscal event horizon [of the debt black hole]. Investors in Europe are now adopting the 'Turkish portfolio' of 50% gold, 50% equities as their formerly developed markets behave more and more like an emerging market
- Zero Hedge, 07 October 2025
First there was the Tricolor subprime bankruptcy, now UBS warns: consumer weakness spreading from low-income to middle-class people, for example, as seen in reduced spending at restaurants
- Zero Hedge, 06 October 2025
Some courts are taking a colder view of a legal tactic in which a solvent company shunts liabilities - sometimes massive class-action claims - into a new unit that then seeks bankruptcy protection
- Murdoch's Wall Street Journal (locked), 06 October 2025
Morgan Stanley's 3 lessons from the shocking collapse of First Brands. The question is whether First Brands' bankruptcy is an isolated, idiosyncratic event - driven by company-specific operational or capital structure issues - or an early warning of fragility lurking beneath the surface of the financial markets.
- Zero Hedge (locked), 05 October 2025
Publicly-traded corporate bonds are booming. Why is private credit flashing distress? The markets for bank loans, private credit, and credit derivatives have shown symptoms of distress.
- Barron's, 04 October 2025
Deutsche Bank sees the economy of Deutscheland on the verge of a turnaround. The debt-financed stimulus blaze is supposed to deliver it. Meanwhile, the collapse of the real economy is accelerating.
- Zero Hedge, 03 October 2025
Shares of Fair Isaac rise significantly with pricing change. Credit bureaus, not so much. Fair Isaac, the producer of the FICO Score, changed its pricing model, giving it a greater share of the overall credit-scoring revenue.
- Barron's, 02 October 2025
Shares of Fair Isaac rise about 25%, and shares of Equifax and TransUnion decline about 10%, after Fair Isaac announced a plan that bypasses the big three credit bureaus - Experian, Equifax, and TransUnion - in providing its credit scores directly to mortgage lenders.
- Zero Hedge, 02 October 2025
FICO disrupts the credit-score market. Fair Isaac is offering mortgage lenders a direct path to its FICO credit scores, for the first time giving them a way around the three powerful credit-reporting firms.
- Murdoch's Wall Street Journal (locked), 02 October 2025
Student-loan debt is strangling Gen X. For many in the 'forgotten generation', the promise of higher education has become an albatross of debt and regret. And the debt is only getting more burdensome.
- Murdoch's Wall Street Journal (locked), 02 October 2025
Race to the financial dung heap. I thought cryptocurrencies would be the catalyst for the next collapse, but private credit, subprime auto and commercial real estate give it a run for its money.
- QTR's Fringe Finance (substack), 01 October 2025
Spirit Airlines on track for a $475 million bankruptcy lifeline. Spirit has an agreement with noteholders for up to $475 million in debtor-in-possession financing.
- Comcast's CNBC, 30 September 2025
Why lower interest rates set by the Federal Reserve won't instantly lower your borrowing costs. Interest rates on mortgages are expected to climb by the end of the year despite the reductions.
- Murdoch's Wall Street Journal (locked), 30 September 2025
Debt is fueling the next wave of the AI bubble. For aspiring artificial-intelligence competitors such as Oracle, future riches rely on debt and hope.
- Murdoch's Wall Street Journal (locked), 30 September 2025
If President Javier Milei of Argentina is really a free-market hero, then he doesn't need a socialist bailout from the USA. If the free-markets thought that Argentina would pay back the money, Argentina would not need another socialist subsidy, this time from the USA.
- Real Clear Markets, 27 September 2025
Socialist industrial planning in Britain: Britain pledges a $2 billion load guarantee for Jaguar Land Rover to help support its supply chain in the wake of the luxury carmaker's production shutdown following a cyberattack
- Thomson's Reuters, 27 September 2025
Why is the socialist Trump bailing out repeatedly-bankrupt Argentina? This is about ideology and loyalty to the authoritarian Trump, and not a bailout in the interests of the taxpayers of the USA.
- Paul Krugman, 26 September 2025
Stablecoins versus credit cards: the coming $100 billion payments battle in the USA. Can stablecoins disrupt Visa and Mastercard? Can blockchain payments may capture billions in fees from US credit card networks.
- Zero Hedge, 24 September 2025
Spirit Airlines to furlough 1,800 flight attendants, amid its second bankruptcy
- Associated Press, 22 September 2025
Zhōngguó is delivering renewable energy to the world, while Trump is making the USA the king of global-heating fossil fuels. Trump is making sure that Zhōngguó controls the future of renewable energy. But is the debt Zhōngguó imposes on countries it helps too burdensome?
- Ochs-Sulzberger's New York Times, 21 September 2025
Wall Street gambles that interest rates will drop much more than Fed's forecasts. The gamble is already boosting the economy by making borrowing cheaper for Americans. The risk now is that investors have become overly optimistic about interest rate reductions.
- Murdoch's Wall Street Journal (locked), 20 September 2025
Why the Federal Reserve's interest rate reduction will not ease the national debt burden of the USA. The move will likely reduce USA borrowing costs for short-term Treasury bills, but the annual interest expense (about $1 trillion) will not shrink much.
- Murdoch's Wall Street Journal (locked), 20 September 2025
Government bond yields rise, and the pound drops, after the government of the United Kingdom reported that government borrowing in August was higher than expected to cover the budget deficit
- Zero Hedge, 19 September 2025
No other physical commodity comes close to gold's low supply growth rate and resistance to debasement
- Zero Hedge, 17 September 2025
Deutschland's shadow budgets: Bundesbank warns of fiscal collapse. Deutschland is following France into the debt trap. With "special funds" and shadow budgets, Berlin hides real borrowing while inflating liabilities.
- Zero Hedge, 17 September 2025
The demand for the refinancing of mortgages jumps nearly 60% as interest rates drop sharply
- Comcast's CNBC, 17 September 2025
It is an economic crisis for the USA! A huge 67% of workers in the USA are living paycheck to paycheck in 2025
- , 15 September 2025
After Fitch downgrades the credit rating of France from AA- to A+, the cost of borrowing for France when selling government bonds rises
- Comcast's CNBC, 15 September 2025
After Fitch downgrades the credit rating of France from AA- to A+, the cost of borrowing for France when selling government bonds rises
- Ochs-Sulzberger's New York Times, 15 September 2025
2 in 5 young adults are taking on debt for social image, to impress peers, study finds. [KM: which makes rich social media companies richer]
- Zero Hedge, 13 September 2025
$83,000,000 -
The collapse of zero-emission truck developer Nikola Corporation has culminated in a liquidation plan that includes an $83 million settlement with the U.S. Securities and Exchange Commission
- FreightWaves, 12 September 2025
A collapse in the value of municipal bond fund (down 50% in 2 days) exposes the danger of investing in junk municipal bonds
- Bloomberg, 12 September 2025
Editorial: the bankruptcy of Tricolor, a major subprime auto lender. Is Tricolor's surprise bankruptcy an outlier or a harbinger?
- Murdoch's Wall Street Journal (locked), 12 September 2025
Tricolor, a major subprime auto lender, just filed for bankruptcy. It will not be like subprime mortgage lenders sparking the Great Recession. The cars involved have steady value (unlike plummeting home prices in 2007/2008). And auto loans are not bundled into bonds and sold to other investors.
- Warner Brothers CNN, 12 September 2025
The national debt of the USA explodes higher in August despite reising tax/tariff revenue as government spending soar. Trump's and Musk's "thou shalt not" lies about the savings of the government destroying DOGE were good while they lasted.
- Zero Hedge, 11 September 2025
Prey on the "blessed meek": Klarna goes public [KM: to get rich] as more than 50% of non-rich people say risky buy-now-pay-later is the only way they can afford to buy things
- Murdoch's MarketWatch, 11 September 2025
The outperformance of global corporate bonds compared to national bonds indicates growing problems with national debts around the world
- Zero Hedge, 10 September 2025
From dollars to dinars: bond vigilantes see a "local pivot" to emerging market debt. The evolution of EMs moving away from being largely dependent on the dollar to being able to better utilise local currency markets highlights a pivotal shift.
- Zero Hedge, 10 September 2025
Mortgage demand jumps to the highest level in three years, as interest rates drop sharply
- Comcast's CNBC, 10 September 2025
Consumer credit increases trounces estimates on unexpected surge in credit card usage
- Zero Hedge, 08 September 2025
Bill Holter, the new 'Mr. Gold' warns metals market is "sniffing out risk and fear". "The world is clearly over-levered with debt, and there are going to be sovereign defaults left and right going forward. The only two monies that cannot default on the planet are gold and silver."
- Zero Hedge, 08 September 2025
Gold goes parabolic as the Fed's credibility burns
- Zero Hedge, 08 September 2025
The gamechanger: Chancellor Freidrich Merz plunges Deutschland into a debt crisis. The Bundestag reached agreement on Friday regarding this year's federal budget. In the end, record debt remains, publicly masked with accounting tricks and hopeful rhetoric.
- Zero Hedge, 08 September 2025
Mortgage rates decline on reports of worsening of the economy of the USA. "We are seeing a lot of interest in refinances." One housing economist says the 30-year mortgage rate will drop below 6% if October's jobs report is also negative.
- Murdoch's MarketWatch, 08 September 2025
The biggest airlines in the USA make billions of dollars from their loyalty programs and branded credit cards, which some analysts believe are now essential to the businesses. By one estimate, the programs are worth hundreds of billions of dollars globally, accounting at times for a large share of the value of the companies that run them.
- Ochs-Sulzberger's New York Times, 08 September 2025
Is the United Kingdom 'canary in the coal mine' for a heavily indebted world? Borrowing costs are surging for many industrialized countries, causing talk of a possible financial crisis.
- Murdoch's Wall Street Journal (locked), 08 September 2025
The "buy now, pay layer" debt-driven economy of the USA. Signs of an emerging debt crisis are everywhere - from credit cards and mortgages to government budgets
- Murdoch's Wall Street Journal (locked), 08 September 2025
The prospect of falling interest rates has boosted the demand investors have for corporate debt, with companies including Merck joining in a wave of borrowing through bond sales
- Murdoch's Wall Street Journal (locked), 08 September 2025
From mortgages to stocks, how higher bond yields for long-term Treasury Bonds hit wider markets
Consumers in the USA are just fine, thanks, based on recent spending trends. Bank of America Institute finds that checking and savings account balances have grown 50% since 2019, while the ratio of total debt payments to disposal income has fallen.
What PayPal, Affirm and Klarna reveal about a new way for Silicon Valley to exploit people's need for money
Sodium-ion battery startup Natron ceased operations this week, ending Natron's 12-year quest to commercialize its technology in the USA. The liquidation shows why the USA is not ready to make its own batteries.
Six Flags amusement park company has racked up $500 million in debt, seen revenue fall by $100 million in Q2, attendance drop 9%, and season pass sales decline 8%. Two parks have already been shut down, with Great America in California set to close in 2027. The company could go bankrupt.
$89,000,000 -
Private market assets platform Yieldstreet put investors into deals totaling $89 million in loans that were supposed to be backed by 13 ships. The borrower defaulted on all of the loan monies, after Yieldstreet lost tracks of the ships it was loaning against. While Yieldstreet is getting $5 million in a settlement, that will cover its legal costs. Its clients will receive nothing, experiencing a total loss.
Spirit Airlines is reducing flights to 12 cities after it filed for bankruptcy protection last week for the second time in less than a year. Meanwhile, other airlines are adding replacement flights to win over Spirit's customers.
A steepening of bond yield curves around the world betrays investor uneasiness with massive government borrowing
Heavily indebted governments are increasingly vulnerable to bond vigilantes
30-year Treasury yield tops 5% briefly as traders deal with uncertainty about Trump's tax/tariff policies, and threats to the independence of the Fed
Can the rise in the price of gold continue? Warning signs for investors.
Gold hits new record high price as Ray Dalio fears that Trump is stoking imminent "debt-induced heart attack" for the economy
Gold hits new record high price as Ray Dalio fears that Trump is stoking imminent "debt-induced heart attack" for the economy
Under the repeatedly bankrupted Trump, large companies in the USA are going bankrupt at the fastest pace since the global financial crisis. 446 large companies filed for bankruptcy during the first seven months of this year. That is the highest total that we have seen since 2010.
Mortgage refinancing starts to thaw as rates trend down. With the average 30-year fixed mortgage rate at a 10-month low, homeowners with high-rate mortgages are starting to get excited about refinancing.
How the European Central Bank engineered the debt-crisis in France ... and the next. The French debt crisis reminds us that gradualism never works, that statism always ends in ruin and that those countries that bet on more government and higher taxes always end in stagnation, and risk of default.
With another government on the brink of collapse, is France the new Italy? France is reaching a level of fiscal and political dysfunction reminiscent of its Southern European neighbor a decade ago.
The USA closed many of its shopping malls, but Zhōngguó continued to build shopping malls. Now Zhōngguó has too many. The first closing of an Apple Store in mainland Zhōngguó hints at broader troubles facing Zhōngguó's shopping malls as developers open more of them.
Profitablility pressure grows for state banks in Zhōngguó due to lower margins as well as small reductions in bad loans
Investors plan to increase their hedge fund exposure to prefer Europe and Asia over the USA for the first time since 2023 as wealthy financiers diversify away from the USA, due to Trump's flipflopping economic policies, massive debt increases and tax/tariff trade wars.
The authoritarian Trump's attempts to seize control of the Fed is pushing up the interest rates that matter most to consumers
Fears of a collapse of the government of France send its borrowing costs soaring. France, a cornerstone economy in Europe, is rapidly becoming one of its weakest links as a political and debt crisis loom.
Editorial: France heads for a fiscal crackup. Politicians prefer serial political crises over any economic reform.
JPMorgan Chase, already the largest processor of credit card transactions, wants even more such business
Millennials and Gen Z are gambling on a big mortgage-rate drop, using ARMs and refinancing. But that could be a "financial ticking time bomb".
5 years on, the property crisis in Zhōngguó has no end in sight. The government had set out to slow speculation, kicking off a slowdown in real estate values that is still grinding on with wide economic consequences.
This is the end of a once mightiest property firm in Zhōngguó. Zhōngguó Evergrande, delisted from the Hong Kong Stock Exchange on Monday, leaves behind a giant pile of debt and a long line of desperate creditors.
Realestate/property stocks in Zhōngguó increase in value as investors bet on government stimulus, despite some downbeat earnings reports from major developers
Ratings agency S&P Global put a negative credit outlook on U.S. soft drinks giant Keurig Dr Pepper after the company announced Monday it will buy Dutch coffee group JDE Peet's. S&P analysts highlighted the increased debt profile of Keurig following the announcement of its $18 billion takeover of Peet's.
Adjustable rate mortgages climb to 41% of total held by banks in the USA, surpassing the record high level set just before the global financial crisis
Alaska Airlines launches $395 credit card, combines frequent flyer program with Hawaiian Airlines
Researchers from the Bank of Zhōngguó, and from others in Zhōngguó, are proposing that Zhōngguó gradually educe its exposure to US dollar assets as the national debt of the USA continues to increase, reigniting persistent worries over the long-term sustainability of an investment formerly considered rock solid. "Although US Treasuries have not yet reached the default threshold, their expansion is unsustainable."
A credit shock in Zhōngguó: new loans fall for first time in 20 years amid relentless deleveraging
The national deficit of the USA explodes in July, despite increase in revenues Trump's taxes/tariffs paid by people in the USA, as government spending soars under Republican control
Despite a property glut, risks associated with commercial real estate loans were manageable, HKMA and HSBC said in separate statements on Wednesday
The next big tax threat is coming from your state capital. Mismanaged state pension funds leave retirement systems massively short nationwide - collectively having shortfalls over $1 trillion
The trade deficit of the USA grows to $291 billion in July despite surge in revenuw from Trump's taxes/tariff
Shares of 133-year old Kodak drop 7% after it says that it might have to cease operations, because it cannot pay $500 million in debt
Shares of 133-year old Kodak drop 7% after it says that it might have to cease operations, because it cannot pay $500 million in debt
Zhōngguó has passed another milestone in its efforts to promote the global use of its currency, with the Australian metals giant Fortescue agreeing to borrow a record 14.2 billion yuan (US$1.98 billion) in a syndicated loan agreement arranged by one of the biggest state-owned banks in Zhōngguó
National socialism: since December 2023, the price of bitcoin has pretty much tracked the M2 Money Supply of the USA - lagging by 3-months, the government printing money to make the rich richer
Panama has signed a $2.486 billion loan agreement with Nihon to fund the construction of Metro Line 3
As the government of Zhōngguó pushes consumer lending to stimulate the economy, millions of borrowers in Zhōngguó, especially the young, are falling into debt spirals
Treasury Bond yields spike after a very ugly, tailing auction of 30-year Treasury Bonds, increasing fears of a recession
Credit scores are supposed to start incorporating [risky] "buy now, pay later" loans this fall. But Klarna says it plans to withhold data until it is assured its customers will not be unfairly penalized.
Meet the new power brokers of credit markets. Morgan Stanley: "... life insurance companies have transitioned from conservative allocators of public bonds to dynamic participants in the broader credit ecosystem ..."
The fiscal decline in Deutschland: record levels of debt, a recession and a welfare crisis
$11,300,000 -
Elizabeth and Nancy Pressman had successfully sued their brother, Bob Pressman, for not sharing proceeds of a sale of a family business. A judge in New York awarded them $11.3 million. The brother appealed.
Pop goes the massive deficit problem of the USA: the warning signs are all there that the levels of debt are unmanageable and destructive
The Treasury Department increase its Treasury Bond sales from $554 billion to $1 trillion in Q3 of 2025 to replenish the cash balances of the federal government
An auction of USA 5-year Treasury Bonds sees lowest foreign demand in 5 years. A sharp shift in sentiment, from a solid 2Y auction this morning to a very ugly 5Y this afternoon.
The European disease: Deutschland enters the 'debt spiral', as it national budget deficits increase
Investors see few alternatives to USA Treasury Bonds. Could Europe issue one? As Trump's chaotic economic policies provoke questions about the stability of the USA, a proposal for countries in Europe to issue joint debt has drawn attention.
The price of gold to remain above $3000 as investors seek safer assets, in light of Trump's trade wars and growing national debts
Inside the private equity scam - and the lives of people that it destroys. Financiers have bamboozled the public for years for 'fixing' companies, but what they mostly do is profit by destroying businesses with debt
Argentina reaches an agreement with the IMF to have the IMF loan $2 billion more to Argentina
Banks are being more selective about whom they want to issue credit cards
The insolvency of mountain biking company YT Industries (backed by the Ardian investment firm) underscores just how much Trump's taxes/tariffs have shaken the biking industry
Trump and the USA are passing cryptocurrencies laws to turn stablecoins into a financial weapon for the USA to deal with its out-of-control national debt. The bubble in cryptocurrency values could 'reduce' the debt of the USA if the national government was allowed to own cryptocurrencies, turning the federal economy into a casino.
Misanthropic predatory "buy now pay later" schemes are so questionable that banks will consider such use a negative factor in approving mortgages or credit cards
Moody's Analytics chief economist Mark Zandi sounds a "red alarm" on the housing market and says that homebuilders are "giving up", and will continue to do so (along with declining home prices) until mortgage rates are reduced
Why FHFA meddling in credit score reporting, allowing the less-reliable ratings from VantageScore to be used along with FICO's credit scores, is unwarranted. FICO cannot generate reports for people with minimal credit histories.
Demand for mortgages in the USA plummets 10%, as interest rates remain high
Editorial: [another Trump "thou shalt not" lie] - tens of billions of new revenues from Trump's taxes/tariffs will not offset the trillions of dollar of new debt that Trump's new tax/spending law will create.
Editorial: "Didn't we learn this was a bad idea the first time?" Trump wants to private government mortgage backers Fannie Mae and Freddie Mac, but still guaranteeing the loans of the to-be-private companies with taxpayers dollars (which led to the financial chaos that forced the government to seize control of the two entitites).
Trump's new tax/spending law finally kills a decades-old "thou shalt not" lie of Christian Republicans - that they don't want to rely on massive debt spending to satisfy their needs (as do the Democrats)
Editorial: how to increase mortgage defaults in the USA. Trump's regulator for Fannie and Freddie wants to reduce the use of FICO for housing credit, while factoring in rent payments of borrowers.
Wells Fargo ends a partnership with Bilt that offered a credit card that earned rewards when you charged your rent to the card
Credit card debt declines by $3.5 billion in May, as student loan debt payments soar
Shares of FICO drop 17% (recovering to being down 9%) after the government announces that borrowers for government-backed loans can use credit ratings from a competitor, VantageScore. Welcome relief, as FICO fees have greatly increased in recent years. VantageScore is owned by Equifax, Experian and TransUnion.
Shares of FICO drop 17% (recovering to being down 9%) after the government announces that borrowers for government-backed loans can use credit ratings from a competitor, VantageScore. Welcome relief, as FICO fees have greatly increased in recent years. VantageScore is owned by Equifax, Experian and TransUnion.
Long-dated government bond yields around the world are rising sharply
As interest rates on mortgages remain 'stuck' above 6.5%, many homeowners can't refinance at lower interest rates and thus are 'stuck' with higher monthly payments
Why Nicolai Tangen, the CEO of Norway's sovereign fund (the world's largest at $2.8 trillion), is worried about the rising national debt of the USA
France is trapped in a debt spiral. The president of the French Court of Auditors argues that the increasing national debt is "out of control", and if the government doesn't do something, the bond markets will.
The Christian Trump's/Republican's new tax/spending law once again proves that the main philosophy of the Christian Republican party is to make the rich moneychangers richer - period. The new law does nothing for families, steals healthcare from the poor, worsens the national debt, and destroys the needed renewable energy industry. [Not sure where Jesus told Christians to do that.
The Republican's new tax/spending law, to make the rich richer, the poor poorer, and the environment worse, while increasing the national debt by trillions, is a dangerous mixture of question supply-side economic promises and Trump's campaign lies to the non-rich
Financial companies on Wall Street worry as trillions of new national debt on top of tens of trillions of existing debt become the default financial mode of the government. Trump's new tax/spending law will greatly worsen the national debt - with no national emergency (a war, Covid pandemic) requiring reckless spending.
10 charts that show how bad Trump's new tax/spending law is for the non-rich and the environment
Republicans in the House join those in the Senate and pass Trump's tax/spending law which will increase the national debt by trillions to make the rich richer while helping Zhōngguó totally control the renewable energy industry
The top five changes for the wealthy (to become richer) in Trump's new "big beautiful bill". These moneychangers will be happy.
Trump's new tax/spending law give the very rich, the economically top 1% of people in the USA, the biggest tax cuts in mostly Republican states
Problems in the recent favorable jobs report, including wage growth slowing, unemployment rising for Black Americans, employees working fewer hours and manufacturing employment down a bit
Odds of the Fed reducing interest rates in July decline, after a strong jobs report for June, and Republicans passing a new law that will increase the national debt by trillions
Robert Rubin and Lawrence Summers: we both served as Secretaries of the Treasury. Trump's proposed tax/spending law is dangerous. And we helped achieve a balanced budget during the Clinton presidency.
The yuan is predicted to keeping increasing in value against the USA dollar, due to a good economy in Zhōngguó and fears of an out-of-control USA national debt
Food product producer Del Monte Foods files for Chapter 11 bankruptcy, though will continue operations
Food product producer Del Monte Foods files for Chapter 11 bankruptcy, though will continue operations
Food product producer Del Monte Foods files for Chapter 11 bankruptcy, though will continue operations
With developing nations crushed by unaffordable borrowing ($8.7 trillion worth of debt), and the USA abandoning much of its foreign aid, leaders of some developing countries are arranging deals for debt forgiveness.
Linqto, which was created to allow retail investors to invest in new companies funded by private equity (and thus not publicly tradable for retail investors), is being investigated by federal authorities and considering to file for bankruptcy
Shares of AeroVironment decline 7% after the defense contractor said it plans to offer $750 million in common stock and $600 million in convertible senior notes. Shares are up 85% in 2025.
The Senate's proposed spending/tax law would add at least $3.3 trillion to the national debt of the USA, Budget Office says. A new analysis showing the legislation would be far more expensive than the House version could complicate its chances of final passage in that chamber, where 'pretend' fiscal hawks (they also cave in and support increasing the debt) have said the cost must not grow.
Stuck private-equity deals saddle investors with endless fees. An exit drought has left some $668 billion sitting in funds a decade or more old, racking up costs.
A pioneer in private credit warns the industry is ruining its golden era. Sixth Street's Alan Waxman thinks his publicly traded rivals are turning private credit into a commoditized, lower-returning business.
EchoStar is making more than $500 million in debt-interest payments that the network operator had delayed amid a regulatory review in the USA of its use of cellular and satellite spectrum licenses, but it also is holding off on another $114 million that is coming due
Trump's taxes/tariffs on imports from Zhōngguó are hurting solar energy companies in Zhōngguó. One-third of Zhōngguó's 121 listed solar producers are in the red; more than 50 along the supply chain have filed for bankruptcy this year.
Weather-related foreclosures across the United States could jump 380% over the next 10 years, reported CBS MoneyWatch. By 2035, weather-driven events could account for up to 30% of all foreclosures, compared with roughly 7% today.
A retrospective on four Republican-driven tax-cut packages [to make the rich richer] found that results always come up short compared to predictions/lies of economic booms and lower deficits.
FICO credit scores to include a shopper's 'buy now, pay late' loan history
Tepid inflation, mixed economic data and signs that the Trump administration will limit longer-term debt sales are fueling optimism that this bond-market rally has legs, and that bond prices will continue to rise.
The Federal Housing Finance Agency is working to let borrowers use cryptocurrencies as part of their federal mortgage applications without converting it to cash. Only digital assets held on USA-regulated, centralized exchanges will qualify under the new guidance.
More homeowners find themselves 'underwater' financially. Some who bought around the market peak in pandemic boomtowns owe more on their mortgages than their homes are worth.
Three Republican-contolled states have the highest share of "seriously underwater" mortgages that face a high risk of foreclosure
Home sales rose in May, but housing market is still sluggish. Sales of existing homes held near historically low levels, the latest sign that buyers are staying away because of high home prices.
Semiconductor supplier Wolfspeed, based in the USA, signed a restructuring deal with top creditors to cut roughly $4.6 billion in debt through a bankruptcy filing. Wolfspeed makes silicon carbide wafers and semiconductor components, and is based in Durham, North Carolina.
Top credit card companies have stumbled on a winning formula at odds with almost every other sector of the inflation-obsessed economy of the USA: raising their prices is good for business. A large number of customers are willing to eat the costs, already sold by the status the cards convey.
Premium credit cards are getting pricier. Do the perks match the fees? Chase's Sapphire Reserve is charging $795, topping the American Express Platinum card. We look at the slew of rewards premium credit cards offer.
Trustees of the Social Security trust fund now estimate the need for a 23% cut in benefits to avoid insolvency in 2033, plus 11% to Medicare, in eight years. One factor cited by the trustees is that Congress, in its infinite generosity with other people's money, recently passed the deceptively named Social Security Fairness Act, topping up benefits for state and local government workers.
Social Security's potential insolvency date moves up one year. To keep paying full benefits to retired and disabled Americans in 2034, Congress would need to find additional revenue or borrow more money.
An investment division of Prudential lends $500 million in private credit to Affirm for three years. Nonbank lenders like Affirm are cultivating stables of large financing partners to ensure they have sufficient capital to lend, even when public debt markets freeze up.
Trump's and Republican's proposal to increase the national debt by $5 trillion is a huge affirmation of the decades-long lie of Republicans - that they want to reduce national deficits, a goal they only advocate when Democrats are in power. The hypocrisy.
How retail credit cards could bankrupt consumers with record high interest rates
Chase Sapphire leapfrogs Amex Platinum with a new $795 annual fee for its credit cards. The price jump is part of an ongoing shift for credit card companies and airlines toward premium rewards and high-end travelers.
To make the rich richer, the Trump's and the House's proposed tax law would add a huge $3.4 trillion to the national debt, while achieving smaller economic gains. The updated findings from the Congressional Budget Office amounted to the latest dour report card for Trump's signature legislation to make the rich richer.
To make the rich richer, the Trump's and the House's proposed tax law would add a huge $3.4 trillion to the national debt, while achieving smaller economic gains. The updated findings from the Congressional Budget Office amounted to the latest dour report card for Trump's signature legislation to make the rich richer.
Mortgage demand drops, even as interest rates fall to the lowest since April
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TransUnion, one of the three largest credit bureaus in the USA, has agreed to a $23 million class action settlement to resolve claims it failed to remove disputed hard inquiries from consumers' reports for nearly 10 years.
Non-rich people in the USA are financing the purchase of their groceries with debt. What does it say about the economy? Increased use of dangerous "buy now, pay later" loans may signal shifting consumer habits, but could also be a troubling sign of financial stress.
How the Federal Reserve fuels fiscal profligacy. The central bank is the largest holder of debt of the USA (its Treasury Bond holdings), giving it undue influence on the federal budget.
Trump destroys another USA business: At Home, a popular home goods retailer with 260 stores across the USA, has filed for bankruptcy citing Trump's taxes/tariffs hurting its business and causing consumers to spend less, which made it unable to service its $2 billion of debt.
Trump destroys another USA business: At Home, a popular home goods retailer with 260 stores across the USA, has filed for bankruptcy citing Trump's taxes/tariffs hurting its business and causing consumers to spend less, which made it unable to service its $2 billion of debt.
Joe Davis, the global chief economist at Vanguard, predicts that bond yields could rise to 9% if the hyped-benefits of the AI [bubble] do not outweigh the costs of the deficit in coming years
The bankruptcy of auto-parts supplier Marelli is the first big casualty fo Trump's tax/tariff trade war
Zhōngguó is using some of the money in a $1.5 trillion fund to offer cheap alternative to bank mortgages and boost housing demand
Trump's proposed tax law imposes upper limits on federally-backed loans for graduate school, which could worsen the shortage of doctors in the USA. The proposed limits on federal loans fall well below the costs of medical school. Critics say this could deter students from pursuing medicine.
Consumer debt surges in April, as student debt soars. Consumer credit growth more than doubled, from a revised $8.6 billion to $17.9 billion, the single biggest monthly increase of 2025 and the second highest going back to November 2023.
Much of the increase in the national debt of the USA comes from extra socialist spending during recessions
The socialist ratchet effect: it is easy for politicians to spend more, but spending less triggers economic collapse
The trade deficit for the USA declined by a record amount in April, not because the USA is exporting more because of Trump's poliicies, but rather because imports declined due to Trump's taxes/tariffs
The trade deficit for the USA declined by a record amount in April, not because the USA is exporting more because of Trump's poliicies, but rather because imports declined due to Trump's taxes/tariffs
You can run from fiscal deficits, but you can't hide from the bond markets. The rise in longer-term US and developed-market bond yields risks becoming entrenched as fiscal largesse becomes a feature of economies, rather than a temporary bug.
The end of the use of the American penny says something unfortunate about our economy. The 1-cent piece is an important barometer of monetary health.
Bitcoin becomes safe collateral: JP Morgan bank to offer loans financed with cryptocurrency assets as collateral
Dollar to decline further on risks to the federal budget, economic growth and trade wars caused by Trump
Elon Musk is on a national debt crusade after slamming Trump's tax/spending proposed law that makes the rich richer: Jamie Dimon, Jay Powell, Ray Dalio, and Warren Buffett have all echoed the Musk's concerns (though with much more credibility than the socialist subsidy 'queen' Musk).
Global investors have a new reason to reduce their purchases of USA Treasury Bonds. After hedging currency risk, foreign investors no longer make money buying America bonds that support America's great level of debt.
Demand for mortgages drops for the third straight week, even as interest rates decline
Consumers are financing their groceries. What does that say about the dangerous state of the consumer-driven economy of the USA? Increased use of dangerous "buy now pay later" loans signals shifting consumer habits, but could also be a troubling sign of financial stress.
Economist question the Republican's proposed tax law: why increase the national debt in good economic times? Huge deficits are already making bond investors nervous. Economists warn that could make it harder to respond to future crises.
Wall Street is sounding the alarm on the ever-increasing national debt of the USA. This time, it is worth listening to their warnings.
Airlines and airplane makers oppose a crackdown on credit card fees charged by Visa and Mastercard, that could imperil their free flight offers. They argue that the proposed law could force them to stop offering rewards credit cards that give consumers frequent flyer miles for making transactions.
The Trump administration wants to sell shares in two government-controlled companies, Freddie Mae and Fannie Mac, that are crucial for getting a mortgage. First it needs to figure out what it wants the mortgage market to look like.
Why a "decade of reckoning" is coming to the USA bond market and the management of the national debt of the USA. With all three credit rating agencies saying that there is a bit of risk with Treasury Bonds, this makes the fiscal outlook for the USA that much worse.
Expecting bond yields to rise (and prices to decline) as Republicans worsen the national debt of the USA, investors are joining Warren Buffett and placing big short orders for Treasury Bonds
According to one hedge fund CIO: "The new world will become incredibly more indebted just to sustain modest growth"
To make it easier to increase the national debt by trillions, the Trump administration wants to make it easier for banks to own Treasury Bonds. After the 2008 financial crisis involving banks, the government added restrictions to banks' holding of Treasury Bonds.
The Federal Reserve is worried about private credit. Should it be the one regulating the sector?
We are witnessing the bond market's power to intimidate. Gaping government budget deficits, on-again-off-again tariff wars and now, soaring bond yields. No wonder the markets are jumpy.
The national debt of Nihon, now twice the size of the economy of Nihon at $9 trillion, forces hard choices. The government faces pressure to curtail debt-fueled spending that some argue has staved off populist waves. As the Bank of Nihon moves away from the negative interest rates that for years made it easy for the government to borrow, the limits on spending are more stark.
Government bonds in Nihon attract weak demand as rise in superlong yields sparks concern. An auction of 40-year government bonds in Nihon attracted the weakest demand in nearly a year, signaling investor caution amid a global rise in yields of ultralong bonds.
Republicans fear, correctly, that Trump's "big, beautiful" proposed tax law is a huge "debt bomb" that worsens the USA national debt to reward the rich
There is a "buyer's strike" on USA financial assets as foreigner investors cannot tolerate high USA national deficits anymore, at the same time that the USA dollar is weakening. Trump's desire for a new tax law that greatly increases the debt of the USA is making things worse.
The international bond market to overspending politicians in Washington: we will make you pay! The global savings glut is over and governments have to pay more to borrow; the situation for the USA is especially risky with its high debt as bond yields rise (making it more expensive to borrow).
Bad news for stocks is the rise in long-term interest rates (on Treasury Bonds, due to Trump's proposed tax law that worsens the national debt)
The bond market is worrying about the increased national debt of the USA due to Trump's proposed tax law
The AI middleman expanding in the consumer-bond exploitation. Pagaya is helping lenders such as 'buy now pay later' Klarna expand, by financing risker loans
More consumers in the USA are "buying now, paying ... never", a new warning sign for the economy. 41% of BNPL users said they paid late on one of their loans in the past year, up from 34% one year ago.
The department store chain Dillard's sued Wells Fargo on Thursday, saying the bank repeatedly breached a since-abandoned co-branded credit card relationship, causing tens of millions of dollars in losses.
Gold headed for the biggest weekly gain in more than a month, as investor concern about the swelling fiscal deficit of the USA boosted the appeal of gold to investors
The USA dollar is expected to end a 4-week increase, due to worries about the increasingly large national debt of the USA
The USA Congress to financial markets: "Shut Up! We do not care about increasing the already high USA debt". [Making rich people richer is more important.]
A shocking admission from Goldman Sachs: the only way to survive the bond-stock reflexive selling loop is to buy gold and cryptocurrencies and non-USA stocks
An upset financial market continues to push up the yield of Treasury Bonds for a second day, with the 10-year rising to 4.61% and the 30-year rising to 5.14% (highest since Oct 2023), after the House approves a new tax law that greatly increases the USA national debt
An upset financial market continues to push up the yield of Treasury Bonds for a second day, with the 10-year rising to 4.61% and the 30-year rising to 5.14% (highest since Oct 2023), after the House approves a new tax law that greatly increases the USA national debt
The bond market is waking up to the fiscal mess in Washington of increasing national debt
An upset financial market continues to push up the yield of Treasury Bonds for a second day, with the 10-year rising to 4.61% and the 30-year rising to 5.14% (highest since Oct 2023), after the House approves a new tax law that greatly increases the USA national debt
The national debt of the USA is on pace to set a record high that dates back 335 years to 1790
To increase demand for Treasury Bonds (to offset decreased demand due to the USA increasingly huge debt), Republicans want to regulate/approve stablecoins, which use Treasury Bonds as collateral.
The Dow dropped 1.9% (and the SP500 down 1.6%) as the House of Representatives was close to approving a new tax law that greatly increases the national debt of the USA
The House of Representatives in the USA approves a new tax law that greatly rewards the rich, takes hundreds of billions from their poor, and greatly worsens the USA national debt
Wolfspeed, a manufacturer of silicone carbide processor chips, plummets 70% on news that the company is preparing to file for bankruptcy
Futures slide as 30-year Treasury Bond yields rise above 5%, oil jumps on Iran war fears
Zhōngguó gains $17.3 billion in capital inflow despite Trump's trade war. As the USA faces downward pressures, from unsustainable debt to the possibility of huge tax cuts, investors are turning to Asia, analysts say.
Mortgage rates cross back over 7% after Moody's downgrades the USA credit rating
Ray Dalio says the risk to USA Treasury Bonds is even greater than what is implied by Moody's downgrading the credit rating of the USA. The downgrade does not take into account the risk of the federal government printing money to pay its debt.
30-year Treasury Bond yields rise above 5% after Moody's downgrades the credit rating of the USA from the highest, Aaa, down one level to Aa1.
30-year Treasury Bond yields rise above 5% after Moody's downgrades the credit rating of the USA from the highest, Aaa, down one level to Aa1.
The tax plans of Christian Republicans, to make the rich richer by taking more from the poor, will not reduce the deficit . Budget analysts across the political spectrum warn that the proposal worsens the debt levels of the USA.
A not so "beautiful" proposed tax law: Christian Republicans want to greatly reduce financial aid for the "blessed meek" (Medicaid, SNAP) to give billionaires tax breaks to earn more billions
Zhōngguó will rely on public-private partnerships as a 'yellow brick road' solution to funding big projects in Africa. Companies based in Zhōngguó will team up with governments in Africa to fund infrastructure while reducing financial risk and easing debt pressure.
Borrowers report credit-score carnage as student loans hit reports. "My score was in the high 700s and dropped to about 480."
Costco is now offering debt-ridden customers the "buy now, pay later" service for sales between $500 and $17,500. More and more Americans are using dangerous "buy now, pay layer" platforms to pay for food amid inflation and ongoing economic uncertainty.
The USA just lost its last perfect credit rating (AAA), after Moody's joined Fitch Ratings and Standard & Poors, and reduced the credit rating one notch to Aa1, due to "the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns".
The woes of commercial real estate in the USA challenge the bank that built its fortunes on skyscrapers. Bank OZK wants to diversify after long defending ultrahigh concentrations of commercial real estate.
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As a result of a Federal Trade Commission lawsuit, a fraudulent student loan debt relief operation, Panda Benefit Services, and its owners are permanently banned from the debt relief industry and required to turn over all assets to resolve allegations that they misled consumers. They also were fined nearly $16.8 million, which, in the case of the stipulated orders, is mostly suspended due to an inability to pay.
Trump's "big, beautiful" proposed law for taxes, mostly to give more money to the rich, ignores the real issuing hurting the economy: the crippling level of the national debt of the USA.
Student loan delinquencies surge, hurting credit scores, with borrowers in the Christian Bible Belt hurt the hardest
For Republicans to help Trump , with new tax breaks, the tax proposed law would add $3.7 trillion to the already high national deficit
The national mortgage debt of the USA tops $12.6 trillion amid rising interest rates and housing costs such as insurance
Bharat has extended financial support to the Maldives by rolling over Bharat's subscription to a $50 million treasury bill by another year at the request of the government of the Maldives.
Morgan Stanley reveals the ugly truth about the 2026 budget deficit: deficits are increasing and long-term fiscal trajectory is just as bad
The world will need to borrow its way out of the financial chaos of Trump's tax/tariff trade war
The International Monetary Fund executive board approved on Friday a fresh $1.4 billion loan to Pakistan under its climate resilience fund and approved the first review of its $7 billion program, freeing about $1 billion in cash
Republican fiscal conservatives protest and resist, insisting that the mega-proposed law for the budget and taxes "must not add to the deficit" to avoid a $50 trillion debt by 2035
Chapter 7 individual bankruptcies in April rise by 16% year-over-year
Drugstore chain Rite Aid Corporation has again filed for bankruptcy less than a year after exiting from the previous one, with the chain now looking to sell "substantially all of its assets".
WeightWatchers files for bankruptcy protection to eliminate a debt burden of $1.5 billion, so it can focus on its transition into a telehealth services provider.
Large auto lenders such as Wells Fargo and Capital One have tightened their standards over the past few years, meaning more people are getting rejected as demand rises. And some firms have tightened further in the past few months.
Nine signs that conditions are ripe for a major economic crisis in the USA
The Federal Reserve is reviewing its secret ratings for the biggest banks in the USA. The Fed's incoming top banking regulator, Michelle Bowman, is seeking to review confidential ratings of the health of large banks, many of which had poor ratings last year.
The Fannie Mae and Freddie Mac - government-sponsored businesses - may foment another financial crisis. They now back more than 60% of new mortgages, versus roughly 45% before the meltdown in 2008.
Is the USA running of 'debt space'? The gap between today's debt and the level at which markets would begin to doubt our solvency - has shrunk to 61 percent of GDP, down from roughly 73 percent in 2017. The USA needs to reduce the federal budget by at least $140 billion a year, to increase 'debt space'.
Homeownership rate in the USA falls to lowest level in 5 years. Elevated mortgage rates contribute to keeping prospective buyers from owning a home.
Credit-card companies prepare for a downturn in the economy. JPMorgan Chase and Citigroup added money to their rainy day funds to cover expected future losses. Retail-card issuer Synchrony is tightening its lending standards.
12 signs that consumers in the USA are experiencing far more financial stress than most people realize
IMF warns against subsidies for businesses financially hurt by Trump's tax/tariff trade wars, as government debts surge around the world
Weekly mortgage demand plunges nearly 13%, as interest rates hit 2-month high
Millions of student loan borrowers are behind on payments. They are seeing their credit scores drop, which will make it more difficult to buy a car or rent a home. And that has implications for the already slowing economy.
Here comes the next shock to the economy: student loan default wave = $63 billion GDP hit. 15.6% of federal student-loan balances, more than $250 billion, are past due by the end of the September 2024 ramp-up period, affecting 9.7 million borrowers.
Today's hot banking business is lending to lenders. Facing weak growth in lending, many large banks are making more loans through their trading desks to hedge funds, credit funds and other nonbank financial companies.
Homebuyers rusk to obtain riskier loans, such as adjustable-rate loans, as turmoil due to Trump's taxes/tariffs pushes interest rates higher
Murky bankruptcies in Zhōngguó expose hazards for foreign investors. Gaps in enforcement of Zhōngguó's insolvency laws can leave creditors vulnerable to opaque dealings and malicious bankruptcy filings by firms seeking to evade payment obligations, or by individuals trying to appropriate company assets, they said.
Thanks to Trump ending the 'de minimis' exemption on small product imports, the backruptcy of Forever 21 will not be the last in the retail sector in the USA.
Saudi Arabia plans to pay off the World Bank debts of Syria
Mortgage rates surge over 75 as Trump's taxes/tariff trade war impacts the bond market. "Forget about housing in this environment."
Publishers Clearing House files for Chapter 11 bankruptcy. It will shift away from its legacy business of direct-mail, retail merchandise and magazine subscriptions - to go purely online.
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Destiny USA, the largest mall in Syracuse, New York (owned by Carousel Center, a division of the Pyramid Companies), defaults on its $300 million mortgage. Pyramid had been required to make interest-only payments on the loan and then pay off the loan in its entirety or refinance it when its maturity date came on June 6, 2019.
The basis trade is blowing up, creating a multi-trillion dollar liquidation panic. "There is massive deleveraging going on, any source of liquidity is being tapped ... hedge funds have been liquidating US Treasury basis trades furiously."
In the last 48 hours, yields on 10-year Treasury Bonds spike from 3.9% to 4.5%, a huge increase, as investors sell Treasury Bonds as they grow more worried about Trump's worsening tax/tariff war.
Investors flee to buying shorter-date German government bonds as Trump's taxes/tariffs cause USA Treasury Bonds to decline in price
The rapid sell-off of USA Treasury Bonds raises questions about the 'safe haven' status of these Bonds
The IMF reaches a deal with troubled Argentina on a $20 billion bailout, welcome help to President Milei. Milei has cut inflation and stabilized the troubled economy of Argentina with a free-market austerity agenda. His policies have reversed the reckless borrowing of left-wing populist governments that has made Argentina sadly famous for defaulting on its debts. The country has received more IMF bailouts than any other.
Americans have $35 trillion in housing wealth - and it is costing them. But the wealth has come with rising property taxes and higher hurdles for borrowing.
Why Zhōngguó is struggling to convince consumers to borrow. Beijing is offering easier access to credit in a bid to boost consumption, but households are reluctant to take on debt amid a global trade war.
The reputational bankruptcy of the American dollar. The USA dollar will likely continue to get weaker, which is inflationary for the US. Let me start with some easily identifiable reasons: too much debt in the USA, cryptocurrencies, and a stronger Europe/euro
Chapter 11 bankruptcies by companies in the USA jump 20%
Visa offers Apple about $100 million to take over credit card from Mastercard. Visa, Amex and Mastercard are all competing to be the network for Apple's credit card.
How is SoftBank funding its mega-investment in OpenAI to greatly profit from paid-human job destruction? With a lot of debt. SoftBank is gambling its fortunes on a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in non-paid AI [KM: that destroys paid-human jobs].
The IMF confirms that it is discussing a $20 billion loan to Argentina, the 23rd time since 1956 that Argentina has borrowed from the IMF. This one was requested with a duration of four years and the government said it aimed for a 10-year repayment period.
The Congressional Budget Office forecasts that Trump's authoritarian government destroying operation, DOGE, and the latest AI bubble, will be massive failures. The CBO predicts that the national debt will explode even higher as productivity collapses.
The Congressional Budget Office estimates that if the debt limit remains unchanged, the government's ability to borrow using extraordinary measures will probably be exhausted in August or September 2025
The Congressional Budget Office estimates that if the debt limit remains unchanged, the government's ability to borrow using extraordinary measures will probably be exhausted in August or September 2025
Over 9 million student loan borrowers are past due with loan payments, after the Covid-era payment pause expired
Tariffs are a risk for midsize businesses, and their lenders. Loans to middle-market firms bear watching as changes in policy play out.
Klarna lands a "buy now, pay later" debt-delaying services deal with DoorDash, obtaining another deal ahead of its IPO
Five charts that show that credit complacency is fracturing, with trade wars damping what had been a relentless demand for credit, including high yields for junk bonds
Northvolt, a batterymaker in Sweden, collapses, a blow to Europe. The company and its assets will be sold after it filed for bankruptcy in Sweden, hurting Europe's best hope for competing against rival batterymakers in Asia.
Roomba maker iRobot warns of going concern, initiates strategic review. iRobot warned investors of a going concern to maintain enough assets to operate and pay its debts, and said it has initiated a strategic review of the business.
A gold-defined dollar standard would do wonders for economic growth, but would almost certainly not limit the growth of our federal government. The view that it would insults markets at least three times, but certainly many more.
Consumers keep bailing out the economy. Now they might be running out of spending money. Recession fears rekindle concerns that Americans are overstretched on debt.
Hudson's Bay, the oldest retail chain in Canada, nears bankruptcy. Department store operator is planning to file for insolvency after separating from Saks Global.
Shares of Salvatore Ferragamo plunge 20% as the company continues to struggle with a brand revamp strategy
People in the USA fall behind on payments for their car loans at the highest rate in decades. Delinquincies on auto loans among subprime borrowers are spiking as consumers continue grappling with higher interest rates.
31 million people in the USA borrowed money from health care last year, about $74 billion in new debt, despite most of them have some form of health insurance.
People in California are falling behind on bill payments amid soaring debt. People in California have accrued the highest per capita debt levels since 2008 as a growing number fall behind on their bills.
"Instability and Illiquidity" looms for the Treasury Bond market as credit-cycle turns. A deterioration in credit markets, anticipated by a rise in bankruptcy filings, could trigger a hedge-fund unwind of the large bond-futures basis trade.
Moody's lowers the credit rating of Nissan Motor's bonds to junk status. Moody's said the the rating action reflects Nissan's weak profitability driven by slowing demand for its aging portfolio of vehicles.
National debt has always been the ruin of great political powers. Is the USA next? From Habsburg Spain to Trump's America, there is no escaping the consequences of spending more on interest payments than on defense.
Hooters of America is reportedly gearing up for a bankruptcy filing in the coming months as the iconic restaurant chain struggles with declining foot traffic and mounting debt
Subprime crash redux: commercial real estate bond distress hits another record high. If this sounds a lot like the subprime crisis of 2006-2008, s because there are many similarities.
In Zhōngguó, financial stress stalks hospitals and bankruptcies soar. Still recovering from heavy spending during the pandemic, hospitals are squeezed by a slumping economy and government efforts to curb health care spending.
Americans have always sought debt-relief after holiday spending. Now their struggle with credit card debt and auto loan payments lasts all year. Many are stuck in what have become unaffordable car loans, while others turned to their credit cards over the past years to buffer themselves from higher prices on groceries and gas.
Which interest rate should you care about? The Fed's short-term interest rates matter, but the main action now is in the 10-year Treasury Bond market, which influences mortgages, credit cards and much more
Capital One's airport lounges are great. Stay for the stock as Discover joins the party. Capital One's deal for Discover looks like a good bet for investors, creating a new financial giant that will control both ends of the credit card business.
The household debt of people in the USA - including credit cards, mortgages, auto loans and student loans -- is at a new all-time high of $18.04 trillion. Overall debt grew by $93 billion in the last three months of 2024 -- and about half of that increase was new credit card debt.
The national budget deficit of the USA hits a record high of $840 billion in the first four months of fiscal year 2025, while interest on the national debt hits a record high of $1.2 trillion
Less than a month after filing for Chapter 11 bankruptcy protection for the second time in a year, craft retailer JOANN is preparing to close over 500 of its stores in 40 states
The growing crisis in the insurance industry may make it hard to get a mortgage in parts of the country in the coming decades, Federal Reserve Chairman Jerome Powell said on Tuesday, noting that banks and insurance companies have been pulling out of coastal and fire-prone areas they deem too high risk.
17 percent of homeowner mortgages in the USA are at 6 percent interest rates or higher
The economy of the USA continues to grow, . But almost everything and everyone else is falling behind. The gap between the prosperity and quality of life for most (non-rich) Americans has grown since the 1990s.
Las cuentas del Gobierno: proyecciones del precio del dálar (el dólar cerraría en promedio este 2025 en $4.360), inflación (3,6%) y PIB/GDP (crecerá un 2,6%) en 2025
Déficit fiscal por Colombia en 2024 fue al más alto en 20 años. En la presentación del Plan Financiero 2025, el MinHacienda informó que el déficit de 2024 fue de 6,8% del PIB (GDP). Hay dudas sobre el complimiento de la regla fiscal. El déficit que tuvo la Nación fue de $115 billiones en 2024.
One month after a near-record drop in consumer credit we just saw the biggest increase in consumer credit on record, coming at a time when credit card APRs are the highest on record
Quiksilver, Billabong and Volcom stores across the USA will close as their owner, Librerated Brands, files for bankruptcy
Soaring levels of debt in Indonesia due to "buy now, pay later" schemes is creating an increased number of demands for tighter rules. While regulators are looking to tighten rules for BNPL schemes, an analyst has urged related service providers to enhance their oversight.
Selling Citgo, the oil company owned by Venezuela, is proving a tough purchase for bidders. The coming auction for Citgo Petroleum could leave its buyer on the hook to other creditors of Venezuela, a stumbling block for the court-ordered sale.
Banks are finally able to sell $5.5 billion of Twitter/X loans after investor interest surges because of Musk's authoritarian grab at political power
The trade deficit in the fourth quarter for the USA soared as companies in December front-ran Trump's threatened taxes/tariffs to import extra products
Is the war machine of Rossiya finally facing bankruptcy? Moscow's wealth fund is being depleted after three years of war -- and signs of fragility are starting to emerge. Interest rates are 21%, inflation is around 10%, and there are acute labor shortages.
Banks and other lenders have let borrowers pay interest with more debt to conserve cash. Like any financial maneuver, the short-term solution cannot weather a prolonged high-interest environment.
The USA needed $5.80 of federal spending to generate $1.00 of growth in the USA, in the 4th quarter of 2024 - a lousy return on investment.
Q4 GDP growth comes in unexpectedly light despite red hot personal spending beating estimates by a record. The bubbled USA economy is all about consumer credit and increased debt.
The GDP of the USA grew 2.5% in 2024, but slowed slightly in final quarter. Consumer spending fueled growth, despite ongoing fears about inflation.
Frontier Airlines offers to buy Spirit Airlines, again. Spirit, which filed for bankruptcy protection last year, says it has rejected the new Frontier overture but would be open to a higher offer.
Frontier Airlines says bankruptcy will not fix Spirit Airlines. Frontier's solution: merge. The discount carrier said a merger would be a better path out of bankruptcy for Spirit, which has rebuffed the latest proposal.
During Biden's last month in office, the merchandise-trade deficit for the USA widen to a record low amount. The shortfall in goods expanded 18% to $122.1 billion.
Another real estate developer in Zhōngguó is facing a cash crisis. Zhōngguó Vanke, one of the largest developers in Zhōngguó, fired its top executives and said it anticipates a $6.2 billion loss, a sign the property meltdown is still raging.
Another real estate developer in Zhōngguó is facing a cash crisis. Zhōngguó Vanke, one of the largest developers in Zhōngguó, fired its top executives and said it anticipates a $6.2 billion loss, a sign the property meltdown is still raging.
Gold glitters at the end of the world as we know it. The war in Ukraine, the US national deficit in trillions, and Trump's new taxes keep gold near record highs versus dollar-hedge alternatives
High interest rates are hammering investors. What lies ahead could be financially worse. Rising rates would be bad news for bondholders and borrowers of all stripes, particularly the U.S. government. They cast a shadow over stocks, too.
Why 'tepid' loan growth could spell trouble for bank stocks. Shares of financial institutions in the USA have rallied since the start of earnings season, but the lack of demand for credit could pose a problem.
How the wildfires could reshape mortgage lending in California. If the insurance industry stops writing policies for California homes, it will ultimately hit the mortgage industry.
The USA faces record levels of national debt as Republicans plan tax cuts
The coming battle between Trump versus the budget hawks. How the spending plans of the Republican party that conflict with Trump could be worsened by Wall Street. Rising bond yields are complicating Trump's plans to reduce taxes.
Four things that helped banks haul in huge profits in 2024. How banks managed to rake in more than investors expected in a year when interest rates started falling and Trump was elected president. Increases in credit-card debt, and market trading, helping mint billions of dollars in profits.
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The bankruptcy of a hot startup in Bharat, Think & Learn Pvt, will see banks lose upwards of $1.2 billion loaned to the online education scam
Why bond yields are surging around the world. The selloff in government debt is making it costlier to borrow, jarring stocks and pressuring indebted countries.
Goldman Sachs sees financing as the future. It is rearranging itself to reflect that. The Wall Street giant's new group will capitalize on a private-credit surge and anticipated private-equity deal boom.
Consumer inflation expectations jump as the labor market and household finance sentiments crumble
The United Kingdom is the biggest loser from the rise in bond yields. The magnitude of the selloff served as a reminder that rising borrowing costs will have consequences for highly indebted governments.
The stock market embraced higher yields. Now it fears higher yields. Investors have shifted from thinking higher Treasury yields are an unwelcome side effect of the stronger growth promised by Trump, to worrying that higher borrowing costs might end up being very important.
Zhōngguó suspends QE/moneyprinting to reverse crashing government bond yields, as stocks enter bear market
Why the central bank of Zhōngguó has stopped bond purchases as bond yields decline, and the value of the yuan declines.
The central bank of Zhōngguó has stopped bond purchases as deflation fears affect the economy
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Owners of a dilapidated hotel in Times Square, the Carter Hotel, which has been cited many times as "America's filthiest hotel", default on a $223 million loan
Soaring bankruptcies bode ill for stocks in the USA. Stocks in the USA are on increasingly unstable ground as credit spreads begin widening due to greater bankruptcy risk, rising yields and a steepening yield curve.
A lender to purchasers of mobile homes, owned by Warren Buffett, is sued because of its risky mortgages. The Consumer Financial Protection Bureau, owned by Berkshire Hathaway, made loans to buyers of manufactured homes that it knew the buyers could not repay.
A lender to purchasers of mobile homes, owned by Warren Buffett, is sued because of its risky mortgages. The Consumer Financial Protection Bureau, owned by Berkshire Hathaway, made loans to buyers of manufactured homes that it knew the buyers could not repay.
High interest rates are healthy, low interest rates are poison. The status quo has it backwards: low rates are now essential to prop up the wreckage left from previous doses of default and cascading losses.
The solar industry in Deutschland has "a lot of distress", being hurt by a slump in demand, and more bankruptcies and firings of workers
The archbishop of New Orleans' Catholic Christian Church ousts top leadership at a church-affiliated food bank in Louisiana for refusing to redirect millions of dollars to support financial settlements for sexual abuses by Christian priests
Jeju Air's problems mount after crash that killed 179 people. South Korea's leading low-cost carrier, heavy with debt and its stock price near record lows, is now facing intense public and government scrutiny.
The USA will probably lose its last Triple-A credit rating this year
Unless something changes, 4 years from now the USA will be 51 trillion dollars in debt. The USA is a spoiled, bloated, greedy nation that has run up a debt so big that words simply do not do it justice.
Pending home sales in the USA rose again in November as mortgage rates fell, but mortgage rates have soared since
Homeowners have no incentive to sell. This is partly because Americans who locked in ultra-low mortgage rates during the pandemic have little incentive to move into new homes and take on higher borrowing costs.
The epic mess at TGI Fridays. The restaurant chain that spread happy hour and family dining across America has unpaid bills and a vacant headquarters. One restaurant owner sees a revival plan.
Can 'King Dollar' survive fiscal follies in the USA? The dollar faces weakness in the medium and longer term as the net debt of the USA with the rest of the world grows.
Reducing the government deficit is easy - but it is also unpopular. Bureaucrats are not driving the deficit. The culprit is the checks they send out that people are addicted to.
With medical costs soaring, how is the USA going to fund health care? It is going to be very difficult to reduce the deficit, when s own proposals would add to it and Democrats are screaming "Medicare for All".
A credit-score hangover is hitting the riskiest borrowers in the USA. Credit scores soared during the pandemic, enabling a borrowing binge that has now forced a reckoning.
Cost of buyer incentives looms over home builders. Lower-rate loans and other incentives have helped the biggest home builders sell new houses at a decent clip this year, even as stubbornly high mortgage rates weigh on sales of existing homes.
The government of Zhōngguó to issue a record amount of 3 trillion in government bonds to boost the economy
The Container Store files for bankruptcy amid mounting pressures. The company said it had filed for Chapter 11 bankruptcy protection in a Texas district court, with plans to complete a reorganization plan within 35 days.
The Consumer Financial Protection Bureau has filed suit against Rocket Homes, alleging the real-estate company provides incentives to brokers and agents to steer home buyers to its parent company's mortgage-lending wing, Rocket Mortgage
Visualizing $102 trillion of global debt in 2024: 34% held by the USA, 16% by Zhōngguó, 10% held by Nihon - together about 50% of global debt.
The Fed reduced interest rates, but mortgage costs went up. Average 30-year mortgages have climbed to around 6.7% since the Fed started lowering rates in September. And they are only poised to rise further.
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Highgate, a New York-based hospitality investor, forfeited ownership of the sixth-largest hotel in San Francisco, the Hyatt Regency to its lending bank, Blackstone Mortgage Trust, in return for cancelling a $290 million debt
Moody's rating service reduces the credit rating for France, in a surprise downgrade amid mounting political chaos.
Moody's rating service reduces the credit rating for France, in a surprise downgrade amid mounting political chaos.
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Daimler Truck says that bankrupt Kal Freight owes it $139 million after alleged fraud. The Daimler Truck financing arm says Kal Freight transferred ownership of trailers that were collateral to an affiliate in violation of loan agreements.
Wall Street is "suprised" by Sycamore's buyout offer made to Walgreens. "...a buyout is harder to contemplate given its already sizable debt burden and paltry cash flow, making the value creation pathway harder to decipher..."
Sugar trafficker Mars seeks to raise at least $1 billion through the sale of private debt ahead of its acquisition of foodmaker Kellanova
In a "last hurrah", credit card debt explodes higher despite record high APR interest rates as savings rate plummets. Everyone is bracing for the moment when the US economy suddenly grinds to a halt and collapses under the weight of its own debt.
The commercial mortgage crisis deepens. The office real estate sector has been grappling with a severe downturn for several years now, but are accelerating recently as they are driven by persistently high vacancy rates and declining rents.
In a worsening political climate, Visa and Mastercard must fight back
Why more middle income people in the USA are struggling to save money
The World Bank on Tuesday said developing countries spent a record $1.4 trillion to service their foreign debts in 2023 as interest costs climbed to a 20-year high, squeezing budgets for necessities including healthcare, education and the environment.
The World Bank on Tuesday said developing countries spent a record $1.4 trillion to service their foreign debts in 2023 as interest costs climbed to a 20-year high, squeezing budgets for necessities including healthcare, education and the environment.
BlackRock is close to making a $12 billion bet that would take it deeper into the hottest trade on Wall Street: private credit. The world's largest money manager is discussing a deal to buy HPS Investment Partners, a firm run by three ex-employees of Goldman Sachs and JPMorgan Chase that specializes in lending money to riskier companies.
Stoli Group USA, the owner of the namesake vodka, has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack (allegedly by Rossiya) that has snarled its operations and several years of fighting Rossiya in court. The bankrupcy only affects its operations in the USA.
Private-equity funds are taking out loans they really do not need. Use of NAV loans surged as private-equity funds delayed selling their assets, but they might not go away even as the market normalizes.
A majority of people in the USA will rely on credit for this year's Black-Friday/Cyber-Monday purchases, despite deep discounts
Local governments in Zhōngguó hold back wages in desperate scrape for cash. Recent attempts by Zhōngguó to address the trillions in hidden debt held by local governments only scratches the surface.
The Container Store could be the next big retail chain to go bankrupt. A weak housing market and steep competition have squeezed the chain. Credit rating agencies rank the Container Store as one of the most financially distressed companies in the retail industry.
Revisions in the savings-rate of Americans erase $140 billoin in American's wealth as the Fed's favorite inflation indicator jumps to 6-month high
The CEO of Northvolt resigns as the big hope of Europe for its own battery champion files for bankruptcy. On Thursday, the company sought bankruptcy protection in the U.S. to allow it to restructure its debt, scale back its business and secure a sustainable foundation for its continued operation.
The CEO of Northvolt resigns as the big hope of Europe for its own battery champion files for bankruptcy. On Thursday, the company sought bankruptcy protection in the U.S. to allow it to restructure its debt, scale back its business and secure a sustainable foundation for its continued operation.
Investors are increasingly reluctant to buy USA Treasury Bonds even at these high yields. Investors are concerned about the Trump administration making the national deficit much worse, requiring more bonds to be sold, which will push down bond prices even more
Shares of Freddie Mac are up 116%, and shares of Fannie Mae are up 143, since Trump won re-election, on bets that Trump will loosen restrictions over the two mortgage giants. They both play a central role in the US housing market by purchasing mortgages from lenders and re-packaging them as securities, and both fell under government control during the 2008 financial crisis as mortgage defaults soared.
Car-loan delinquencies are not scaring off Wall Street. Investors are snapping up bonds tied to car loans, betting that a strong USA economy will keep rising delinquency rates in check.
President Milei of Argentina hopes that Trump will help unlock billions of dollars in new loans to finance the financial reengineering of Argentina.
Nearly 40% of cars financed since 2022 now have negative equity. Nearly 46% of electric vehicles have negative equity. The median loan for a Tesla has negative equity.
Greed is good! After earning a record $19.7 billion in yearly profits, partly due allegations by the government that it and Mastercard are monopolies, Visa celebrates its good fortune by firing 192 people
Takata, an auto parts manufacturer in Nihon, files for bankruptcy in light of the "largest and most complex safety recall" in the history of the USA. The recall of airbags by Takada cost the company billions of dollars.
Election week saw huge money-market fund inflows, bank deposits rise, loan volumes shrink
The economy of Zhōngguó is improving, but still needs more financial help from the government. Beijing's recent cascade of monetary and fiscal easing subsidies have yet to fully reinvigorate an economy weighed down by a yearslong property-sector slump.
Trump has murky plans for Social Security, raising fears of a public health crisis. Millions are barely scraping by on the program, which Trump seems determined to destroy to make the meek meeker.
With less workers compared to retirees, the Social Security program in the USA has become a Ponzi scheme. The Social Security trust fund is a figurative piggy bank that holds only IOUs issued by the Treasury to the Social Security Administration, not actual money.
Shares of Spirit Airlines plunge 60% as the company reportedly prepares for a bankruptcy filing
Foreclosures in Zhōngguó soar, threatening to sharply reduce profits at banks. When the housing market was flying high, mortgage defaults were almost nonexistent. But now the legal system is struggling to keep up with evictions.
Mortgage rates fell, then rose. What comes next? Many would-be home buyers are still hoping for mortgage rates to come down as the Federal Reserve cuts interest rates. How much they will fall is unclear.
If the Trump administration runs excessively stimulative fiscal policy, with lots of spending and tax cuts, leading to even wider deficits, I think then that may cause the bond vigilantes to push yields up to levels that create problems for the economy, and thus for Trump.
Americans have spent all of their savings from the Covid pandemic era. At the end of September 2024, Americans had collectively dis-saved $291 billion since March 2020.
Zhōngguó disappoints with the latest "bare minimum" socialist stimulus package, as it waits for Trump's taxes/tariffs
Zhōngguó announces $1.4 trillion package over five years to help reduce the 'hidden' debt of local governments. The debt swap program, however, fell short of many investors' expectations for more direct fiscal support. The new debt measures would alleviate pressure on local authorities and free up funds for supporting economic growth.
If the Fed is reducing interest rates, why aren't mortgage rates falling? Consumer borrowing costs have not tracked the central bank since it cut rates by 0.5% in September.
The victory by Trump sparks national debt worries, but the dollar says the debt levels are fine. The prospect of a second Trump term seems to be reinforcing King Dollar's reign, rather than shaking it.
Weekly mortgage demand tanks 11% as interest rates surge higher. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances -- $766,550 or less -- increased to 6.81% from 6.73%. Applications to refinance a home loan fell 19% for the week.
Airplane parts supplier, Spirit Aero, an important supplier to Boeing, raises doubts over ability to continue as going concern
The working poor in the USA are hurt by "weaker credit metrics and mixed confidence" as Black Friday shopping weekend nears
Growing risk in private credit and shadow banks. As the financial system becomes more dependent on less liquid sectors, the potential for liquidity crises grows, highlighting the importance of monitoring and addressing risks in the shadow banking and private market ecosystems.
"Homes are still overpriced and unaffordable", as the Fed's socialist 0.5% reduction in interest rates sparks a mortgage rate increase
"It looks like a VaR shock to me": British government bond prices and the British pound crash amid panic over unsustainable UK deficit and tens of billions of dollars in new taxes
Soaring government debts around the world and perceived fiscal laxity are provoking surges in yields and heightened volatility, which may keep sovereign bonds under pressure
Yields on UK government bonds soar after the new Labor government announces huge new deficit spending funded by tax increases, which the markets predict will cause a surge in inflation, and thus want more bond yield
The new Labor government in the United Kingdom raises taxes by over $50 billion to strengthen its finances
Britain targets the wealthy as it increases taxes by $52 billion
Electric air taxis are already suffering economic problems. German startup Lilium is the first listed eVTOL maker to be at risk of collapse, but may not be the last, as it principal German subsidiaries will apply for self-administration (bankruptcy) proceedings.
Their car is totaled, but they still owe years of payments. Roughly a third of people who financed cars owe more than their vehicles are worth, which can be consequential once they get rid of the car.
Brazil has decided against joining the Belt-and-Road initiative of Zhōngguó, instead seeking alternative ways to collaborate with investors from Zhōngguó. The goal is to use some of the belt and road framework to find "synergy" between Brazilian infrastructure projects and the investment funds associated with the initiative, without necessarily formally joining the group.
Zhōngguó is planning 10 trillion yuan (about $1.4 trillion) of new debt to be used a stimulus of the economy, causing a rebound in the price of oil and commodities
The financial morass of the government of France produces a harsh critique from Moody's. The financial ratings agency, citing a "fiscal deterioration" with rising borrowing and a political logjam, downgraded its outlook for French debt. Last week, Fitch Ratings issued a negative outlook for the sovereign credit rating of France.
The privatized water system in the UK is in crisis. Can it be fixed, or have investors wrecked the company while extracting excessive profits through debt financing?
The government of the UK will change the definition of 'debt' so it can add $90 billion more of debt
Wells Fargo may lose up to $3 billion on its office building loans. "We have reserved for all of it, so the balance sheet is de-risked, but it's going to play out over three, four years."
In a 'ghost' city in Malaysia, echoes of the housing crash in Zhōngguó. Forest City was an audacious $100 billion project by a top real estate developer from Zhōngguó. Today, the project is a fraction of what had been planned and the developer is bankrupt.
Watch out: Wall Street is finding new ways to slice and dice loans. Goldman Sachs sold $475 million of a first-of-its-kind deal with public asset-backed securitization bonds backed by 'capital-call' loans. The people who brought you
Waste of the day: state governments in the USA are $811 billion in debt
TGI Fridays may be the next restaurant chain to enter bankruptcy
Empty tables and rising costs push more restaurants into bankruptcy. Red Lobster, Roti and other chains are closing locations as chapter 11 filings grow.
Global debt will reach $100 trillion in 2024, worsened by deficit spending in the USA and Zhōngguó
Shares of Spirit Airlines soar 33% after the budget carrier revealed it had struck an 11th-hour deal to extend a key deadline to late-December to refinance $1.1 billion in debt
The federal deficit of the USA rises above $1.8 trillion in 2024 as interest on debt surpasses trillion-dollar mark. Interest expense for the year totaled $1.16 trillion, the first time that figure has topped the trillion-dollar level.
According to a survey released Thursday by Bankrate, a financial analytics firm, 37 percent of American credit card holders have maxed out or nearly maxed out on their card limits since the Federal Reserve began raising interest rates in March 2022
The IMF warns rise in government debt could be sharper than anticipated. Government debts are set to match the annual output of the global economy by the end of this decade, and could cross that threshold much sooner if economic growth is weaker or interest payments are higher than expected, the International Monetary Fund said.
High home prices force builders to offer mortgage buydowns -- and more. Home builders might have to offer further price reductions, in addition to continuing mortgage rate buydowns.
Boeing, desperate for liquidity, files shelf registration to sell up to $25 billion in stock
Boeing to sell at least $10 billion in shares to plug cash drain. The jet maker moves to raise much needed cash and secures a new credit line amid paralyzing machinist strike.
Barclays to replace Goldman Sachs as issuer of credit cards for General Motors. The deal aims to expand the consumer ambitions of Barclays in the USA while getting Goldman closer to exiting consumer lending.
Zhōngguó new credit data is a disappointing mess, sparking speculation of moneyprinting/QE. Zhōngguó's credit impulse remains depressionary. For all its talk, Beijing will need to unleash a new credit flood for markets to take it seriously.
Zhōngguó ay raise 6 trillion yuan ($846 billion) from ultra-long special government bonds over three years as part of its efforts to boost the sputtering economy, media outlet Caixin reported.
Hurricanes amplify the insurance crisis in riskiest areas. After Helene and Milton (estimated damages are over $200 billion), some small Florida insurance companies risk bankruptcy. Larger insurance companies will be in the hot seat with lawmakers and consumer groups. Since 2021, nine property and casualty insurers have gone bankrupt in Florida. The socialist National Flood Insurance Program is $20 billion in debt.
People moved to Florida for a slice of paradise. Now they are packing their bags. Hurricanes have driven up the cost - and headaches - of living in the Sunshine State. Some Floridians are reaching their breaking point.
France could be entering a debt-spiral doom-loop and credit rating downgrade. France now has the largest primary budget deficit of the main European countries, larger than the deficit of Italy.
The end of the economic and military empire of the USA, and the rise of the price of gold. Unsustainable deficits and galloping debt levels, combined with a crumbling military, are the perfect recipe for the end of the USA empire.
Boeing rejects a contract offer with its union as the SP500 warns about potential negative credit rating due to a prolonged strike
The federal budget deficit of socialist-capitalist USA rose to $1.8 trillion in the 2024 fiscal year, reaching the highest level in three years. The increase from the $1.7 trillion deficit in 2023 came as tax revenue failed to keep pace with the rising costs of government programs and the mounting interest on the national debt. The reliance of the USA on borrowed money to fund its priorities and pay its bills is not expected to end any time soon.
The federal budget deficit of socialist-capitalist USA rose to $1.8 trillion in the 2024 fiscal year, reaching the highest level in three years. The increase from the $1.7 trillion deficit in 2023 came as tax revenue failed to keep pace with the rising costs of government programs and the mounting interest on the national debt. The reliance of the USA on borrowed money to fund its priorities and pay its bills is not expected to end any time soon.
The government of Zhōngguó gives $28 billion to local governments as it vows to meet economic targets
Trump's economic plans as next president could increase the debt of the USA while raising costs for most Americans. A new analysis finds that Vice President Kamala Harris and Trump's plans would both add to the deficit, but Trump's proposals could create a fiscal hole twice as big.
The 'crypto punks' behind Trump's murky new business venture. The serial entrepreneurs behind Trump's new cryptocurrency project have left a trail of lawsuits, unpaid debt and tax liens.
The Federal Reserve cut interest rates, then standard 30-year mortgage rates went up. It is a warning that lower interest rates in the long term are not a foregone conclusion.
Wall Street rushes to bring private credit to the masses. Investing titans are jostling to launch funds made up of hard-to-trade private loans.
Shares of Spirit Airlines plummeted 40% pre-market on Friday after the Wall Street Journal reported that the ultra-low-cost carrier was in talks with its bondholders about a potential bankruptcy filing.
Spirit Airlines explores bankruptcy filing. The budget carrier has been discussing a possible restructuring agreement to be implemented in chapter 11.
The USA is calling for greater transparency over emergency currency 'swap loans' to struggling countries given by the central bank of Zhōngguó
The Biden administration closed on a deal to resurrect another nuclear plant, Holtec's Palisades nuclear plant in Michigan, thanks to a $1.52 billion loan.
The socialist stimulus onslaught continues in Zhōngguó as the State Council calls for faster implementation of easing measures
Zhōngguó to allow home buyers to refinance mortgages in latest easing move. The move is the latest in a weeklong burst of easing measures aimed at stimulating s moribund property market.
Will the surprise stimulus plan launched by Zhōngguó work? Getting out of the deflationary hole that Zhōngguó has fallen into is vital, and in the short run all stimulus will help. But for the long term, ZHōngguó needs to stop digging and start consuming.
Elliott-led group named as winner of auction to acquire Citgo Petroleum based in Venezuela. Elliott and other investors in the USA have agreed to pay nearly $7.3 billion to acquire Citgo's parent company, with proceeds set to help compensate creditors of the bankrupt Venezuelan government.
Lower interest rates do not guarantee a 'soft' economic recession. Even though borrowing costs are falling, many businesses might still face a financial squeeze.
Despite declining mortgage interest rates, new home sales in the USA dropped in August
Moody's downgrades the credit rating of Alaska Air to junk status on plans by Alaska Air to sell more bonds to refinance debt
The interest rate reduction of 0.5% will not save these real-estate owners. Relief from lower interest rates is coming too late for many highly indebted commercial-property investors.
Johnson & Johnson files third bankruptcy case seeking to end talc lawsuits.
Looming insurance crisis threatens taxis and Uber vheicles in New York City. American Transit, the largest insurer of the city's for-hire vehicles, is insolvent. Its collapse could create a crisis that would take thousands of cars out of service.
One reason the Fed reduced interest rates, despite a decent economy, is that the Fed itself and commercial banks, are suffering huge unrealized losses on bonds they own that were issued when interest rates were lower.
Consumers have too much of the wrong kind of debt: credit card debt that charges high interest rates
Federal debt is soaring. Here is why Trump and Kamala Harris are not talking about the dangers. Both candidates were part of administrations that produced growing deficits. Neither is likely to reverse that trend if elected.
JPMorgan in talks with Apple to take over credit card processing from Goldman Sachs. The bank could become the new Apple credit-card issuer, but is seeking concessions from the tech company.
Tupperware, known the world over for its plastic food storage containers, has filed for bankruptcy after years of falling popularity and financial troubles. Tupperware shares have plummeted 74.5% this year and last traded at just 51 cents.
Harland & Wolff, the shipbuilder for the Titantic, files for bankruptcy again. For the second time in five years, the parent company of the shipyard in Belfast, Northern Ireland, will enter administration/bankruptcy, with Royal Navy contracts in the balance.
Goldman Sachs losses on consumer credit business loses a massive $6 billion as the bank scrambles to exit credit card business
Americans are falling behind on the paying of their bills. Wall Street is alarmed. Lenders are seeing a rise in late payments on credit cards and auto loans.
What wasn't mentioned in the debate between Kamala Harris and Trump: the coming crisis of the national deficit of the USA, with interest payments now over $1 trillion/year
Moody's threatens bonds issued by Boeing with a downgrade to 'junk' status, as a strike halts 737 production
Mortgage rates in the USA continue to fall. The average rate on 30-year mortgages declined to 6.2 percent this week, the lowest point since early 2023.
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Navient is barred from federal student loan servicing and has to pay $120 million in fines and compensation to the borrowers harmed by its practices, according to a proposed settlement with the Consumer Financial Protection Bureau.
With the Federal Reserve holding benchmark rates at their highest in 23 years, the government has paid $1.049 trillion for debt service, up 30% from the same period a year ago. The jump in debt service costs came as the U.S. budget deficit surged in August, edging closer to $2 trillion for the full year.
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How a private-equity payday raped a hospital chain of cash, forcing it into bankruptcy. Steward Health Care recently went bust, years after paying a $790 million dividend to its shareholders, the majority of the money going to its private-equity owner/rapist, Cerberus Capital. Steward, under the control of Cerebrus, sued Massachusetts to keep its financial reports confidential -- a move that kept the size of the dividend from being disclosed.
BurgerFi restaurant chain files for Chapter 11 bankruptcy. Only its corporate-owned BurgerFi and Anthony's Coal Fired Pizza & Wings restaurants are included in the bankruptcy proceedings, it said. There are 17 and 50 of those, respectively. In its filing, BurgerFi estimated a range of $50-$100 million for its assets. Estimated liabilities were $100-$500 million.
Goldman Sach's exit from the credit-card business is hampered by lax lending standards. The bank lent loosely on some credit cards, contributing to a big loss as it tries to sell the General Motors card business.
Private equity firm sweeps up bankrupt LL Flooring, which will stay in business after all. The bankrupt home improvement company, previously Lumber Liquidators, has inked a deal to be acquired by F9 Investments, its largest shareholder.
Shares of Ally Financial plummet 17% reported that their auto delinquencies soared a whopping 20 basis points compared to their expectation, while net charge offs (NCOs) were up ~10 bps compared to their expectations.
Zhōngguó writes off more interest-free loans to Africa (about 5% of outstanding loans), but is the move just symbolic? Beijing says other players such as the World Bank need to shoulder a much fairer share of resolving debt problems on the continent.
Greed, gluttony and the crackup of Red Lobster
In a "last hurrah", credit card debt unexpectedly soars in the USA despite record high APR rates for credit cards, as savings rate hits record low. It is difficult to see how the US consumer pretends that all is well after this.
Inflation expectations rise over medium-term as delinquency fears unexpectedly hit 4 year high. Americans continue to grow more concerned about their ability to keep up with debt payments, even as inflation expectations over the next 3 years rebounded.
Thousands of companies in Turkey face a wave of bankruptcies and closures amid economic reckoning. Thousands of companies in Turkey are squeezed by inflation that topped 75% earlier this year, an overvalued lira, a 50% benchmark interest rate, hikes to electricity and gas prices and dwindling export orders.
Local governments in Britain are at "serious risk" of "widespread collapse" in services. Local governments across England, Scotland and Wales have a deficit of over $5 billion in their finances in the coming year, according to a new report. That could force cuts to jobs and vital services, such as rubbish collection.
Big Lots, a discount retailer with 1,400 stores in the SUA, files for bankruptcy as stock loses 50% of its value, having lost 50% of its value as well last week
Are local governments in Zhōngguó using unsustainable tactics to repay debt? From "smashing pots" to special bonds, regional officials are running out of ways to squeeze businesses for more money, experts say.
Solar energy firm Lumio filed for Chapter 11 bankruptcy after getting caught up in a "severe liquidity crisis" following a fall in market demand.
Zhōngguó improves ties with Africa despite slowing economy and friction over debt. President Xi Jinping is using a summit with African leaders to solidify political and economic ties with the continent.
Zhōngguó improves ties with Africa despite slowing economy and friction over debt. President Xi Jinping is using a summit with African leaders to solidify political and economic ties with the continent.
The California state senate has passed legislation to hinder healthcare acquisitions by private-equity firms and hedge funds, as states seek new powers to slow the corporate consolidation of medicine, especially mergers that rely on disastrous debt financing.
Mortgage refinance demand is 94% higher than a year ago, as interest rates fall again in the USA. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.43% from 6.44%.
The down payments of homebuyers hit a "record high", surging nearly 15 percent in a year to 18.6 percent of the property price
Persistent economic pressures, and changing consumer habits, send more restaurants into bankruptcy. "Consumers who dine at lower-end restaurants are the ones who will stop dining out first."
A judicial rule to curb judge shopping in big Chapter 11 bankruptcies should be delayed, panel says. A panel advising a Judicial Conference committee said another committee is considering a similar issue.
The debt crisis in Africa has "catastrophic implications" for the world. Crushing obligations to foreign creditors that have few precedents have drained numerous nations in Africa of growth and stoked social instability.
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Brandon Miller, the high-profile criminal New York real estate developer who took his own life last month, was in even more dire financial straits than was initially revealed at the time of his death. Miller, 43, who flaunted a high-flying Hamptons lifestyle bankrolled by millions of dollars in secret debt along with his influencer wife, Candace, was nearly $34 million in the red, with just $8,000 in his bank account, TheRealDeal reports.
Bloomberg reports that Ohio-based Big Lots, with about 1,400 stores nationwide, has mulled over whether a potential bankruptcy filing is the right move in the near term given the slide in sales, which resulted in a multi-year crash of shares trading in New York
Even if the Federal Reserve reduces interest rates, it will not significantly alter the rapidly climbing interest bill on government debt, making a rise in issuance and structurally higher longer-term yields more likely.
The Boy Scouts to auction Norman Rockwell paintings, other art to fund sex-abuse settlement. The Boy Scouts of America's 321-piece art collection, including Norman Rockwell paintings, is heading to the auction block to raise funds for the compensation of sex-abuse survivors as part of a bankruptcy settlement.
Credit scores without debt? Fintech cards baffle credit industry. So-called credit-builder cards let users deposit money to pay bills. The fintechs say this counts as borrowing. The companies that create credit scores and reports are not so sure.
Student loan debt attracts private-credit investors. Asset managers are seeing opportunity in banks looking to slough off credit risks such as student loans.
It is time to 'short' Mexico. The deficit has swelled, the peso is weaker, and the rule of law is in threatened.
Argentina sends $150 million of its gold reserves to London, probably to be used as a collateral for desperately needed loans
Nepal asks Zhōngguó to wipe away a loan it can not afford to pay back
Many 'bottom-fishers' are buying office buildings at huge discounts. A new wave of private buyers is betting that they can make money even as the national office market shrinks because of remote work.
Some families are going into debt to pay for vactions to Disney amusement parks. Some families are spending more than they can afford on Disney vacations. They say it is because they know their children will not stay young forever.
The financing of the takeover of Twitter by Elon Musk is now the worst buyout deal for banks since the 2008 financial crisis. Loans of around $13 billion have remained "hung" for nearly two years, bringing in interest payments but weighing balance sheets of the banks.
Coming to a cash-strapped company near you: creditor-on-creditor violence. As private-equity-owned companies default, lenders are resorting to business and legal measures that seem extreme.
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The CEO who made a fortune while his hospital chain collapsed. Steward Health Care paid at least $250 million to Ralph de la Torre and his other companies during the four years he was the majority owner of the hospital chain. Conditiosn were so bad, while de la Torre was getting richer that the Steward Health Care System was in such dire straits before its bankruptcy that its hospital administrators scrounged each week to find cash and supplies to keep their facilities running.
Private-equity companies desperate for cash turn to a familiar scam. Companies
Global debt hits a new high of $315 trillion. The USA and Nihon were the largest contributors across advanced economies, and Zhōngguó, Bharat and Mexico drove the largest share in emerging markets.
The financial woes of Elon Musk at Twitter/X have owners of Tesla stock fearing that he will liquidate more stock, pushing the stock price down more
Moody's slashes the credit rating of Mount Sinai Hospital to near 'junk bond' status due to risks with Sinai's Beth Israel hospital system.
This is what caused the national debt to increase $8.2 trillion under Trump - including the 2017 tax cuts to make the rich richer
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SF tech company Tally - with a product for helping people manage credit card debt, once worth $855 million, shuts down amid wave of complaints. It wasted $172 million in investors' funding.
Avon Products, the US-based "non-operational" holding company, is seeking Chapter 11 bankruptcy protection "to address its debt and legacy talc liabilities". Avon, once valued at around $21 billion, ceased selling products in the US in 2016 when the parent company divested its North American-based business. The company remains active in international markets.
The USA records its second biggest deficit for a July in history, as 25% of tax revenue is being used just to pay interest on the national debt
Credit-card and auto-loan delinquencies surged in the second quarter
Investors borrowed like crazy during the stock market rally. Now they are paying the price. Behind the market tumult of the past month: the rapid unwind of several popular trades and the heavy use of leverage.
What to know about online paycheck advances and why they face scrutiny. The Consumer Financial Protection Bureau has proposed a rule that would treat the offerings as loans, requiring the providers to disclose their charges as interest rates.
Do not expect a rapid decline in mortgage rates. Several market forces could keep them elevated for some time.
Goldman Sachs is giving select clients access to one of its hottest businesses. A big push into asset-backed loans is part of the bank's plan to roughly double its private-credit assets in the next five years.
Office loans are toxic, but apartment loans are in bad shape too. Distress rates are rising for a type of loan that apartment flippers feasted on during the pandemic.
What market upheavel? Companies are selling debt just fine. Corporate bond prices and issuance are recovering after the recent rout.
Weekly mortgage refinance demand in the USA soars 16% as interest rates sink to lowest level in over a year. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.55% from 6.82%.
Weekly mortgage refinance demand in the USA soars 16% as interest rates sink to lowest level in over a year. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.55% from 6.82%.
Homeowners increasingly tap home equity lines as savings rate plummets
Collectively, Americans owe a record $1.14 trillion on their credit cards, according to a new report from the Federal Reserve Bank of New York. As credit card debt mounts, young adults, who are likely renters with less of a financial cushion than their elders, are increasingly falling behind.
Data shows that 1.6 million people in the USA will have their car repossessed by the bank before the end of the year, a slight increase from the 1.5 million autos repossessed in 2023 and a drastic upturn from the 1.1 million in 2021.
Credit ratings were meant to help sub-Saharan countries tap global investors to fund much-needed development. But low scores, heavy borrowing and bad luck have left many struggling with crushing bond debt
President Zelensky suspends the foreign debt payments of Ukraine starting August 1st
Badcock Home Furniture & More, a 20-year-old furniture chain which has stores throughout the South, will shutter all 380 stores after its parent company filed for bankruptcy -- the latest brick-and-mortar business to buckle from high overhead costs and massive debt.
Surge in commercial-property foreclosures suggests bottom is near. Lender portfolios of foreclosed and seized office buildings, apartments and other commercial property grew 13% in the second quarter.
The USA Treasury estimates that it needs to sell $1.3 trillion in Treasury Bonds for the remainder of 2024 to fund the USA government
JPMorgan Chase the largest credit card issuer in the USA, will prevent customers from using its credit cards to repay increasingly "buy now, pay later" installment loans. Financial regulators and consumer advocates frown upon using credit cards to pay off installment loans because of the risk that consumers will dig themselves further into debt.
Rates of delinquency of credit card payments hits a 12-year high
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2U, once a giant in online education, files for Chapter 11 bankruptcy. The company, which had a valuation of more than $5 billion in 2018, is being taken private in a deal that will wipe out more than half of its $945 million debt.
Real estate crisis? Small banks say their loans are fine. Community banks are big commercial real-estate lenders. But they say their loans are to sturdy local businesses, not those facing vacant office space.
Xbox players are the credit-card indusrty' next 'Big Thing'. Banks such as Barclays are seeking out customers in the $57 billion-a-year videogame industry.
Federal regulators step up their campaign against predatory payday lenders and their rip-offs. Their actions were stopped during the Trump administration after the 'loan sharks'
Shares of Deutsche Bank plunge as much as 8.5% after an increase in reserves set aside for losses with its commercial real estate loans
Deutsche Bank increased its forecast for full-year credit losses, warning that it expected continued pressure from exposure to commercial real estate, at a time a boost from high interest rates begins to unwind.
Blackstone's mortgage REIT slashes dividend by 24% as distress piles up in CRED market
There are signs of severe credit-card and auto-loan stress in Generation Z
Borrowers/consumers in the USA are on shakier financial ground. Years of higher inflation and interest rates have left consumers mired in debt, even as the overall economy is healthy.
Coming bankruptcy for SunPower after installations of solar panels and shipments of solar panels are halted
Beyond Meat engages bondholders for restructuring talks. Lawyers for the purveyor of plant-based meat substitutes are beginning debt discussions with bondholders owed $1.1 billion, according to people familiar with the matter.
Discover Financial Services sells student loan portfolio to Carlyle and KKR for up to $10.8 billion. The loans will be sold at a premium to their principal balance of nearly $10.1 billion. The deal could also de-risk Discover's loan book as it prepares to be acquired by Capital One.
How Wall Street keeps absorbing the borrowing fiscal insanity of the federal government. Demand for safety and bond yield has supported the price of Treasury Bonds, despite a huge supply increase.
More Americans are falling behind on car payments as repos soar 23%
Trillions in hidden debt drove economic growth in Zhōngguó. Now the debt threatens the future of Zhōngguó. Local governments racked up as much as $11 trillion in off-the-books debt to build industrial districts, resorts, transit systems and housing projects, including many that failed.
Trillions in hidden debt drove economic growth in Zhōngguó. Now the debt threatens the future of Zhōngguó. Local governments racked up as much as $11 trillion in off-the-books debt to build industrial districts, resorts, transit systems and housing projects, including many that failed.
Republicans have always lied about the opposition to increasing the national debt and increasing federal deficits. Now at least they are honest about their lies, removing the issues of debt and deficits from the party's platform. Fiscal hawks are lamenting the transformation of the party that claimed to prize fiscal restraint and are warning of dire economic consequences.
The USA spent a record $140 billion on debt interest in June of 2024, 30% of all tax revenues
Seeking to become more larger, JPMorgan seeks to obtain a 15% share of US consumer bank deposits (now at 11%), and boost its share of credit card transactions from 17% to 20%
Business bankruptcies jump 34% in first half of 2024
Credit card debt unexpectedly surges as credit card interest rates (APR) rise to new all-time highs
Local governments in Zhōngguó need debt relief, an academic argues, supporting the use of national government bonds to ease local debt burdens. As local governments in Zhōngguó suffer under the weight of debt, a former adviser to the central bank has called for treasury bonds to ease the burden.
Apartments could be the next real estate business to struggle. Owners of some rental buildings are starting to struggle because of rising interest rates and waning demand in some once booming Sun Belt cities. Only some have stopped making payments on their mortgages, but analysts worry that as many as 20 percent of all loans on apartment properties could be at risk of default.
Crushing debts await new leaders in Europe. Planned largess by election winners in Britain and France is on a collision course with soaring debts and deficits.
Political unrest worldwide is fueled by high prices and huge debts (which only make the rich richer). Economic turmoil is spreading across the globe, and the response has been protests, attempted coups and elections of far-right politicians (who will do nothing but also make the rich richer).
SK On, a leading producter of electric vehicle batteries in South Korea has declared itself in financial crisis as its customers struggle with disappointing EV sales in Europe and the USA. It has experienced 10 consecutive quarters of losses, and has over $10 billion in debt.
Bob's Stores on Monday announced the impending closure of every one of its nearly two dozen clothing retail stores. The retailer started conducting "Going Out of Business" sales at its 21 locations in six Northeastern states to offload all of its merchandise late last week.
The debt of students in the USA rises over $1.6 trillion, with nearly half of borrowers not resuming payments on their loans
Is France the next debt-riddent Greece? The debt-to-GDP ratio for France skyrocketed during Covid-19, and after inching downwards, it is now trending back up and is expected to exceed Covid levels within a few years.
Young people in Zhōngguó are "revenge saving", even as Gen Zers around the world are amassing a lot of debt. 73% of Gen Zers in the U.S. said they would rather have a better quality of life than extra money in a bank.
The 'frozen' housing market is warping the economy in the USA. Cheap mortgages are forcing millions of homeowners in the USA to stay put. That is becoming a problem well beyond the property market, as renters, realtors and job recruiters (people can't accept new jobs without new housing) are among those suffering financially.
More bailouts for banks are coming. That is how history repeats itself. The cycle of failures and bailouts is a constant in the history of banking, Paolo Zannoni writes in a guest commentary.
Beijing became the last major city in Zhōngguó to trim mortgage rates and down-payment requirements for home buyers, part of growing efforts across the country to resolve a long-running property crisis
The president of Kenya rejects bill that led to deadly protests. A day after at least 23 people were killed in demonstrations against a tax increase, President William Ruto withdrew the law that he said was necessary to avoid defaulting on the debt of Kenya.
Behind the unrest in Kenya, a staggering and painful national debt. The debt is now at $80 billion in domestic and foreign public debt, about 75% of the entire economic output of Kenya. Kenya, the fastest-growing economy in Africa, is on the brink of a fiscal calamity. Across Africa, nations are spending more on interest than on health or education.
The rejection of the new tax law in Kenya highlights the political and economic realities of high debt burdens in countries in Africa
Some Wall Street banks, worried that landlords of vacant and struggling office buildings will not be able to pay off their mortgages, have begun selling their portfolios of commercial real estate loans hoping to cut their losses.
Goldman Sachs raises $3.4 billion for buying stakes in real estate funds. Goldman Sachs's asset management arm has raised one of the largest pools of capital targeting stakes in private real-estate funds, benefiting from investors' desire to take advantage of mounting liquidity problems among other investment managers and their limited partners.
Visualizing the lower number of cash transactions around the world. As credit cards and digital wallets (e.g. Apple Pay, Paytm, Alipay) see increasing adoption around the world, the share of cash being used in transactions is plummeting.
Despite recent reassurances by Janet Yellen, the Secretary of the Treasury, that the "debt is sustainable", sustainable debt makes our society less so, with the United States having a debt-to-GDP ratio of 122%, one of the highest in the world.
The worsening water shortage in Bharat, triggered by high consumption amid rapid economic growth and frequent natural disasters, can negatively impact the sovereign credit strength of Bharat, Moody's Ratings said on Tuesday.
Debt brakes and treaty requirements are about to smash the European Union. The EU has launched an Excessive Debt Proceeding against France.
Everyone is focusing on the upcoming presidential debates between Biden and Trump. But everyone is ignoring the most important issue: the huge and unsustainable national debt of the USA.
For the first time since the financial crisis, CMBS investors face Europe's first AAA Loss
Local authorities in Zhōngguó have been encouraged to buy unsold homes to create affordable housing amid efforts to address a property crisis, but many of these governments are already struggling with debt.
Federal Judge David Jones made Houston the top bankruptcy court. Then he helped his girlfriend greatly profit. Law firm Kirkland & Ellis brought multibillion-dollar cases to David R. Jones' court, aided by a local attorney who lived with the Why did no one look into it?
What happens when both major political parties in the USA, are wedded to two versions of the same failing economic ideas? And what happens when leading figures of both the progressive left and the populist right seek to compound the problem with even easier credit and more runaway spending? Disaster.
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Norinchukin, a giant bank in Nihon, will liquidate $63 billion in Treasuries and European bonds to plug massive (2.2 trillion yen - about $14 billion) unrealized losses on its bonds
The national debt of the USA is on pace to top $56 trillion over the next 10 years
The Congressional Budget Office figures how to do "math", and raises the 2024 national budget deficit for the USA by $400 billion to $1.9 trillion
$29 trillion - that is how much debt that emerging nations are facing. A decades-long crisis is getting worse, and now dozens of nations are spending more on interest payments than on health care or education.
Major sports and entertainment venues are punishing people for using cash, forcing them to use credit cards
A big bond rally is promising some help for home buyers. The sharp rise in bond prices has pushed down the yield on the 10-year U.S. Treasury note, a benchmark for mortgage rates and other borrowing costs across the economy.
Wells Fargo invested in a flashy credit card (offered by a fintech startup) that you can use to pay rent interest-free. Wells Fargo is losing money every month on the program as savvy customers flock to the card and projections on key revenue drivers turn out to be inaccurate.
How financial engineering sullied the Thames, the most famous river in Britain: "poo in the water". Critics say the the largest water utility in the UK, Thames Water, loaded up on debt to pay investors dividends while failing to upgrade the Victorian-era sewers of London, the classic private equity exploitation tactic.
Stocks in France tumble to worst week in two years over election fears. Investors worry about a possible debt crisis in the country as polls show the far right could be brought to the brink of power in less than a month.
James Grant, editor of the Interest Rate Observer, predicts that interest rates will continue to rise. He argues that persistent inflation, increased military spending, and significant fiscal deficits could drive rates higher.
Buyers snap up aging and empty office buildings for deepl discounts. Bargain hunters are getting deals of up to 70 percent, a sign of the pain in the commercial property market that could lead to large losses for banks and investors in real-estate-backed loans.
A federal appeals court said Puerto Rico bondholders have collateral rights over revenue generated by its bankrupt public power utility, a ruling that could delay and possibly upend a planned $10 billion debt restructuring
The government of Zhōngguó liquidates Dexin Zhōngguó Holdings, another property developer that had unmanageable debt
Treasury Bond yields jump to one-week high after an ugly 3-year bond auction
The plans of the USA to fix its economy is going to 'screw over' the rest of the world. The problem is if the Fed doesn't reduce interest rates as other central banks are reducing interest rates. Money will flow from the rest of the world to the USA to buy Treasury Bonds.
Office building losses start to pile up, and more pain is expected. The distress in commercial real estate is growing as some office buildings sell for much lower prices than just a few years ago.
A shocking decline in credit card debt (as people pay off their credit card debt) is first since Covid crash, as credit card APRs hit new all time high
Credit Suisse bondholders sue Switzerland in the USA over $17 billion writedown of AT1 debt
Corporate 'zombies": ranks of the most debt-hobbled companies in the world are soaring, and not all will survive
Moody's may reduce the credit ratingss of six regional banks in the USA which have much exposure to commercial real estate debt
Investors in real estate are wiped out in bets fueled by Wall Street loans. Syndicators made big purchases that are unraveling with high interest rates, adding distress to an already troubled property market in the USA.
The government of Zhōngguó has relaxed or eliminated measures on home buying to spur new purchases. This has made a vocal constituency of existing homeowners very unhappy.
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After raising $100 million AI mortgage fintech LoanSnap is being sued (by seven creditors), fined (by the Federal Housign Authority) and evicted (by landlords, who are also suing)
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Commercial property meltdown clobbers pension funds. Recent moves by government pension plans offer a new glimpse into the widespread and slow-moving commercial real-estate slump.
American Express zooms ahead as Gen Z gets hooked on credit card rewards. Amex has found that young spenders enjoy perks as much or more than their parents. Now it has to keep them happy.
A downsized WeWork will leave bankruptcy in search of its first profit. The flex-office provider projects to turn a profit in 2025 under its new owner, software firm Yardi Systems.
Further credit deterioration in trucking is evident in the quarterly earnings report of the BMO (the former Bank of Montreal). Negative categories all at highest levels since bank expanded in trucking lending in 2015.
Treasury Bond yields spike to session highs after a sub-par auction of 7-year Treasury bonds
Zero-percent down mortages are once again available. What could go wrong, other than everything like the last time.
Bankruptcies have left more stores vacant, but the space does not sit empty for long. Available retail locations are near record lows, and that makes it easier than ever for landlords to replace departing tenants.
In this courtroom in Kansas, the hospital bill dominates the docket. More than 15 million Americans have medical debt, and the issue of collection is particularly tough in rural America.
The Federal Reserve versus the USA Treasury: all actions will cause more inflation. When the Treasury issues more short-term debt, it is waging war on the the higher interest rate policy of the Federal Reserve. Good for rich people.
How the world got into $315 trillion of debt, much of which is owed by Nihon and the USA. Public debt is $91 trillion, close to 100% of global GDP.
Central banks of many countries are selling USA Treasury Bonds, and using some proceeds to buy more gold, to distance themselves more from the huge debts of the USA
A lender to consumer start-ups falters, rattling its clients. Ampla, which lent money to smaller businesses that sold clothing, home furnishings and other items directly to consumers, is struggling financially and seeking a buyer.
Investors eye expansion in private credit. Pension funds and other investors plan to diversify their portfolios with private-debt allocations this year.
CFOs lock in savings with interest-rate swaps amid uncertainty about Fed rate cuts. Some companies are saving millions of dollars by entering into interest-rate swaps as they confront the possibility it could be a while before the Federal Reserve cuts rates.
How private first screwed Red Lobster with a sale/leaseback deal that profited private equity but left Red Lobster with overpriced rents, and then Red Lobster was further screwed by horrible marketing decisions by new management and a lousy supply deal for shrimp.
Red Lobster, a seafood institution in the USA, files for bankruptcy
Americans are falling deeper into debt to buy groceries. To get relief, some are turning to credit cards, buy now pay later or payday loans to buy food. But those balances can be difficult to pay down due to a higher cost of living.
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Vantage Travel Services files for bankruptcy, owing customers $108 million for cruises and other travel products they had paid for but never received.
1 in 7 of 'Generation Z' (those 13 to 29) in the USA have 'maxed out' their credit cards. Credit card delinquencies have surpassed pre-pandemic levels and continue to rise. Severe credit card delinquencies, those 90 days overdue, have now climbed to 10.7% -- the highest since 2012.
The central bank of Zhōngguó announces a $42 billion program of cheap funding to allow state-owned companies to purchase unsold homes, providing an interest rate of 1.75%, to boost the debt-stricker housing market.
Aflac is buying a stake in a direct lender, getting a piece of the private credit boom. Aflac, an insurance giant, is paying about $100 million to acquire a 40% stake in Tree Line Capital Partners.
Dozens of Red Lobster restaurants are auctioning off their equipment. The seafood chain has been losing money for years. The liquidator behind the auction said more than 50 of its locationsin the USA had closed.
Record levels of household debt, a jump in delinquencies, signall "worsening financial distress", according to the Federal Reserve
Companies owned by the Republican governor of West Virgina, Jim Justice, have long had a reputation for not paying their debts, a form of "thou shalt not" stealing
Future problems for private lenders, such as Apollo, will start today. Lenders are stepping back into the market for risky loans, even as borrower demand has been tepid, threatening to throw the market out of balance.
The average credit card debt in the USA is soaring past $6500, which is not surprising as many people are forced to use their credit cards to survive inflated prices for consumer goods
McDonald's admits that consumers have little extra money to spend, as it plans to reintroduce a $5 meal
Country Garden misses bond payments, says government could help. Country Garden said a state guarantor could come to its aid after the troubled developer missed deadlines for bond payments, presenting a key test in an ongoing debt crisis in the property sector of Zhōngguó.
Behind the missing "strength" of consumers in the USA is $700 billion in 'phantom debt' - debt arising from "buy now pay later" plans
Local governments in Zhōngguó swap debt for data as pressure builds to relieve debt burdens. Analysts warn plan has not been thoroughly evaluated, with inconsistent valuations of data and potential legal issues yet to be resolved. They are forced to do so, since profits from land sales have vanished.
Office tower turmoil in New York City worsens ahead of trillion dollar maturity wall
Bad-loans hit record-high as used-car prices suffer worst bear-market ever
Shocking collapse in credit card debt growth just as card APRs (annual interest rates) hit all time high
After years in the doldrums, European banks have cleaned up their balance sheets. The result: Stock prices have surged.
A Chinese debt trap? Sri Lanka's Hambantota port set to debunk narrative with its success. The transaction was not contingent on default by Sri Lanka on its external debt to Zhōngguó's Exim bank; rather it was a lease arrangement for 99 years at a fee of US $1.12 billion.
Covid disaster loans provided a lifeline. Now small businesses in the USA owe billions in late fees. The government has referred 860,000 delinquent Covid loans for collection -- tacking on billions of dollars in fees for small-business borrowers.
Companies begin reducing debt due to high interest rates. The current high interest rates have pushed up the cost of borrowing for most companies, forcing them to tackle their debts, analysts said.
Why cities and towns in Britain are falling into bankruptcy. Birmingham, the second largest city in the United Kingdom, and the largest local authority in Europe -- fell into bankruptcy in September of 2023.
Defaults on loans for office building near historic levels with billions on the line. More than $38 billion of office buildings in the USA face loan defaults, foreclosures or other forms of distress, the highest amount since 2012.
GM is in talks to move credit-card business from Goldman Sachs to Barclays. The deal including roughly $2 billion of card balances could be struck by summer.
Inflation is stubborn. Is the federal budget deficit making it worse? Economists are divided over whether the growing amount of federal borrowing is fueling demand and driving up prices.
WeWork rejects a $650 million bid from former founder Adam Neumann, while obtaining a bankruptcy deal with creditors. The restructuring, now supported by all of the major creditors of WeWork, would transfer WeWork's equity to its senior lenders and cancel its $4 billion in debt.
The significant rise in gold and silver prices if yet to start, as the national debt of the USA and massive Treasury Bond issuance will worsen inflation
Companies such as Experian and TransUnion argue that it is time fopr 'buy now, pay later' loans to appear on consumer credit reports. The lenders are not ready to sign on.
Even if the Fed reduces interest rates, the days of ultralow rates are over. Soaring budget deficits and investment needs mean ther 'neutral' interest rate may be higher.
Availability of office space hits a record high in San Francisco. "Rents will definitely come down. And once that debt workout happens, there is going to be a larger reset."
The FDIC just seized the troubled Philadelphia bank, Republic First Bancorp and and struck an agreement for the lender's deposits and the majority of its assets to be bought by Fulton Bank.
CoStar, a real-estate data analytics company, which became a WeWork landlord in February, said it has no intention to give lease concessions and more time to restructure leases
Foreclosures on loans for commercial real estate soar to levels not seen in nearly a decade
National debt is important: why it is time to position into countries with low outstanding debt
A huge number of homeowners have mortgage rates too good to give up. Their reluctance to change homes alters housing supply.
The punishment in Zhōngguó for people with bad debts: no fast trains or nice hotels. People across the country are being weighed down by their debts and a system that is penalizing them for not repaying what they owe.
Shares of Bank of America drop after humans actually read the latest earnings report, and notice soaring charge-offs for real estate and credit card losses
Bank of America reports solid earnings, but commercial real estate losses unexpectedly surge. Banks are starting to finally pass massive CRE/office losses through the Income statement. How ugly is it about to get.
USA Treasury Bonds are getting harder to sell. Record issuance raises worries that debt sales will exacerbate volatility. A series of weak auctions for U.S. Treasurys are stoking concerns of investors that markets will struggle to absorb an incoming rush of government debt.
Fitch reduces the economic outlook of Zhōngguó as fiscal strain starts to hurt. The ratings agency said the change to Zhōngguó's credit rating outlook reflected rising risks to the finances of Zhōngguó.
Banks strike back against private credit. Wall Street banks are gaining back ground against nonbank lenders.
How not to run a water utility. Let Thames Water go into bankruptcy. But after that, water bills need to rise.
It is oddly fitting that in a time when the interest on US debt just hit a record $1.1 trillion, that the US deficit for just the first six months of fiscal 2024 is also $1.1 trillion
A nonprofit group called R.I.P. Medical Debt has relieved Americans of $11 billion in hospital bills. But that did not improve their mental health or their credit scores, a study found.
President Biden seeks to slash the debt for 30 million people in the USA with student loans. The president outlined a new proposal to reduce or eliminate debt for borrowers whose loan balance has ballooned because of unpaid interest.
Shares of Shimao Group, a real estate developed in Zhōngguó, dropped 14% after a state-run bank in Zhōngguó, in a rare case, filed a liquidation petition against the heavily indebted developer in Hong Kong, adding uncertainty to a proposed restructuring of billions of dollars of offshore debt.
Why the national debt of the USA is unsustainable and is destroying the middle class, a destruction aided by Big Tech
Credit card debt surges to new all-time high of $1.339 trillion, just as card APR interest rates hit fresh record high of 21.59%, and the personal savings rate drops from 5% to 3.6%.
Banks are extending office loans. Are they also pretending? Many 2023 maturities were pushed into 2024, giving lenders more time for rates to drop and other investors to buy some of their debt.
Retailers like Peloton and Saks in the last few months have been paying vendors late, signaling possible "financial distress".
The USA will be left with "severe, irreversible financial scars" if national debt goes unchecked. Now, a blockbuster report warns the future debt is higher than believed, hitting $141 trillion by 2054.
How can Robinhood afford 3% cash back on its new credit card? The pressure is on as Robinhood lost 10 million users between 2021 and 2023.
It only takes a $7,000 of business debt to end up trapped in Zhōngguó. Exit bans have left foreign executives stuck inside Zhōngguó ... often with no idea when they will be allowed to leave.
Les Gold, the star of 'Hardcore Pawn', says his economically desperate customers increasingly focused on living week-to-week, not monthly. "Right now, the pawn line is probably twice as long as the redemption line for people picking up merchandise."
Credit card swipe fees are going down. Are points going with them? A new agreement by Visa and Mastercard to reduce fees charged to merchants may drain the lucrative rewards that grant free travel to many credit card users.
The Brooklyn Tower, the 1066-foot building which is the tallest building in all of Brooklyn, has defaulted on its loan controlled by JDS Development
Tupperware Brands warned that the 77-year-old company may not survive for another year and forecast inadequate liquidity to fund operations, the seller of plastic airtight food storage containers said in a filing with the SEC on Friday. Shares are down 16% in the last two weeks, and down 33% for the year.
A leaked document reveals that Amazon plans to get rid of office space it rents to save $1.3 billion, in a cost-cutting move amid a crisis in the value of commercial real estate towers
Visa and Mastercard agree to cap their swipe fees in settlement. The deal could save merchants $30 billion over five years. It would also allow them to adjust prices based on the costs of accepting different credit cards.
Visa and Mastercard agree to cap their swipe fees in settlement. The deal could save merchants $30 billion over five years. It would also allow them to adjust prices based on the costs of accepting different credit cards.
The market for officce space is in turmoil. So why are rents more expensive? Office rents in the USA are holding steady -- or even rising -- despite soaring vacancy rates, a record amount of available sublease space, and rising defaults.
Windowless rooms and town-gown battles: how student housing got expensive. Investors like student apartments because returns are steady and tenants can borrow to pay the rent.
Easing in the middle of persistent inflation may worsen stagflation risk. The Fed is making a big mistake by cheering the headline economic figures that come from disguising a private sector recession with a massive increase in public debt.
One in four people in Costa Rica borrow money to pay for food and utilities. Research shows that a quarter of loan recipients use the funds for essential needs like buying food, personal items, or covering utility bills such as water and electricity.
New York Community Bank and Meridian rode the property boom together. Now they are struggling financially. The bank got many of its loans from a broker now blacklisted by Fannie Mae and Freddie Mac.
The new normal for mortgage rates will be higher than many hope. Changes across the market for mortgage-backed bonds mean rates can stay elevated even once the Federal Reserve starts cutting.
Crafts retailer Joann files for bankruptcy. After a pandemic-era boom in sales, Joann has been dealing with a pullback in consumer spending on at-home projects. The retailer will become a private company owned by a group of its creditors.
The 'fire-sale' for office buildngs in the USA has barely begun. Only 3.5% of offices sold last year came from a distressed seller, thanks to optimism and forgiving lenders.
Half of the office space in downtown Pittsburgh could be empty in 4 years
$1 trillion in 2024 maturities of commerical real estate debt could lead to hundreds of bank failures
Deutschland is running out of money and debt levels are exploding, finance minister warns
Default: investors in the Four Seasons Hotel in San Francisco are late with a $3 Million loan payment as foreclosure looms. There are 22 active commercial mortgage-backed securities loans for hotels in San Francisco maturing in the next two years.
Private equity wants your credit card debt. And car loan. And mortgage. Private fund managers like Apollo, Blackstone and KKR are pushing into asset-based lending and targeting the biggest prize in the global economy: the American consumer.
The highest rates of credit card delinquency in the USA are in the 'Bible Belt', led by Misissippi, Alabama, Louisiana and Arkansas
The USA spent more than double what it collected in taxes in February, as the 2024 deficit is second highest ever, as the national debt explodes.
Mall retailer 'The Body Shop' files for chapter 7 bankruptcy, and has ceased sales at its 50 outlets
Eric Peters, CIO of the One River Asset Management hedge: "We are just two years away from a debt sustainability crisis in the USA, sparking a major global market event"
Total borrowing by governments in rich countries is set to hit a record high of $15.8 trillion this year, with the cost of making interest payments rising over coming years as bonds issued before the inflation surge mature.
Credit card debt jumps to new all-time high, as card rates rise to new record high of 21.47%
$20,000,000,000 -
The USA seeks collection of up to $20 billion in roughly 1,000,000 delinquent Covid loans to small businesses and non-profits. The loans, granted by the Small Business Administration, will be collected by the Treasury Department.
FICO credit scores for consumers in the USA decline for the first time in 10 years
Unfunded Social Security and Medicare liabilities hits $175 trillion
New York Community Bank announces an equity infusion of $1 billion
New York Community Bancorp to get more than $1 billion investment. Former Treasury Secretary Steven Munchin's Liberty Strategic Capital is among the investors in the troubled lender.
After the invasion of Ukraine isolated Moscow from the Western financial system, companies in Rossiya have come to rely on the yuan for foreign-currency needs. But, insufficient yuan liquidity in Rossiya and demand for the currency from importers are contributing to higher borrowing expenses.
The TikTok generation turns to sports betting to reduce their student debt. Young men are trying to use ubiquitous online betting to deal with big college loans. [KM: statistically, this will only make rich gambling companies richer]
As borrowers struggle with making their $1,000 monthly car payments, banks with auto financing units are swiftly adjusting to stricter credit conditions by turning down many prospective buyers, further complicating the process for consumers to secure auto loans.
Another property giant in Zhōngguó, Country Garden, has a creditor, Ever Credit, who wants it dismantled. The creditor has asked a Hong Kong court to liquidate its operations and pay off lenders. The court filing involves Country Garden's failure to repay a loan of $204 million plus interest owed to Ever Credit.
Another property giant in Zhōngguó, Country Garden, has a creditor, Ever Credit, who wants it dismantled. The creditor has asked a Hong Kong court to liquidate its operations and pay off lenders. The court filing involves Country Garden's failure to repay a loan of $204 million plus interest owed to Ever Credit.
The GDP of the USA grew by $334 billion in Q4 of 2024. Fantastic, well, except that it required $834 billion in new national debt to pay for spending to create that 'growth'
Why isn't Zhōngguó permitting Rossiya to borrow money dominated in yuan, as part of their 'no-limits' economic partnership. Analysts say that commercial banks in Zhōngguó would be wise to consider the safety and returns of yuan loans to Rossiya, beyond political considerations.
Multi-billion dollar semiconductor manufacturers seek more than $70 billion in federal subsidies paid by taxpayers. Gina Raimondo, the Commerce secretary, said new investments would put the USA on track to produce roughly 20% of the most advanced logic chips in the world by the end of the decade.
Can owners of heavily leveraged Airbnb properties can withstand a prolonged downturn in the short-term rental market, especially those who used stupid amounts of leverage to buy Airbnb properties?
Super Micro Computer can raise tons of money for free, by offering some of its AI-bubbled stock. That is bad news for anyone hoping the Fed feels a need to lower interest rates to help the economy.
Express, a retailer of business causal-focused clothing, is moving towards filing for bankruptcy, having struggled since the Covid pandemic
Within 10 years, interest and Medicare will each cost $1.6 trillion a year
Investments by Zhōngguó in Latin America are being reduced in size to smaller, more strategic projects. Developments now seen to come from sectors like electric vehicles, which have faster returns and fewer operating costs.
President Biden defies the Supreme Court again, cancels $1.2 billion in student debt from 153,000 borrowers
How war in Europe boosts the economy of
Xi Jinping, the president of Zhōngguó, is grappling with $7 trillion downturn as the country's debt levels soar, the real estate market collapses, and stock markets pull back over 21% from 2021 highs
With both delinquency and charge off ratios at the two largest credit card companies, it is hardly surprising that the easiest way to cover up the growing delinquency/NCF rot below the surface is simply to throw billions in "synergies" at the problem while also combining two (very ugly) balance sheets in hopes of confusing shorts. Thus, the announcement that Capital One plans to buy Discover Financial Services in a deal that would combine two of the largest - and ugliest - credit-card companies in the USA.
Morgan Stanley predicts: the red hot government spending of the Biden Administration and fiscal stimulus ends when the Reverse Repo runs out
Unleash the powers of 'evil financial power' of unlimited credit and excess capital on a limited, essential resource such as shelter and this is what we end up with: artificial scarcity, rent-serfs and half-vacant neighborhoods owned by rich absentee landlords
A troubling consequence of massive spending: the mounting costs of the national debt of the USA, which in an era of high interest rates, adds over $1 trillion/year to the national deficit
Late mortgage payments pile up for giant apartment lender in the USA. Arbor Realty loans funded a Sunbelt apartment boom. Many of its borrowers are now struggling with higher interest rates.
A growing percentage of Americans are becoming reckless with their spending, fueling what one economist calls "super duper" credit bubble.
A report from the San Francisco Fed highlights concern over Congressional spending that is out of control, Social Security and Medicare costs, and rising interest on the national debt.
A drop in bankruptcy filings suggests that credit conditions are improving, despite a downturn that was looking almost inevitable last year
- Alibaba's South China Morning Post, 08 September 2025
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- Zero Hedge, 28 July 2025
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- Ochs-Sulzberger's New York Times, 05 July 2025
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- Comcast's CNBC, 04 July 2025
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- Warner Brothers CNN, 03 July 2025
- Apollo Global's Yahoo Finance, 03 July 2025
- Ochs-Sulzberger's New York Times, 02 July 2025
- Alibaba's South China Morning Post, 02 July 2025
- Thomson's Reuters, 01 July 2025
- Global Data, 01 July 2025
- Warner Brothers CNN, 01 July 2025
- Ochs-Sulzberger's New York Times, 01 July 2025
- Murdoch's Wall Street Journal (locked), 01 July 2025
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- Ochs-Sulzberger's New York Times, 30 June 2025
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- Barron's, 14 June 2025
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- Thomson's Reuters, 02 June 2025
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- Apollo Global's Yahoo Finance, 02 June 2025
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- Barron's, 31 May 2025
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- Warner Brothers CNN, 22 May 2025
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- Apollo Global's Yahoo Finance, 6 February 2025
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- Barron's, 15 February 2025
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- Apollo Global's Yahoo Finance, 1 February 2025
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- Zero Hedge, 29 October 2024
- Ochs-Sulzberger's New York Times, 27 October 2024
- BBC, 25 October 2024
- Zero Hedge, 25 October 2024
- Thomson's Reuters, 24 October 2024
- Ochs-Sulzberger's New York Times, 24 October 2024
the scams of CDOs and other financing esoterica are back with SRTs, NAV loans and more.
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- CBS News, 12 September 2024
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- Ochs-Sulzberger's New York Times, 09 September 2024
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- Thomson's Reuters, 09 September 2024
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- Alibaba's South China Morning Post, 07 September 2024
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- Ochs-Sulzberger's New York Times, 31 August 2024
- Murdoch's New York Post, 30 August 2024
- Zero Hedge, 29 August 2024
- Zero Hedge, 29 August 2024
- Murdoch's Wall Street Journal (locked), 29 August 2024
- Murdoch's Wall Street Journal (locked), 29 August 2024
- Murdoch's Wall Street Journal (locked), 28 August 2024
- Murdoch's Wall Street Journal (locked), 26 August 2024
- Zero Hedge, 24 August 2024
- Ochs-Sulzberger's New York Times, 24 August 2024
- Barron's, 24 August 2024
- Ochs-Sulzberger's New York Times, 21 August 2024
- Murdoch's Wall Street Journal (locked), 21 August 2024
- Murdoch's Wall Street Journal (locked), 20 August 2024
- Murdoch's Wall Street Journal (locked), 19 August 2024
being raped backed by private equity firms are taking on more risky junk debt to pay dividends to the private equity companies and investors.
- Murdoch's Wall Street Journal (locked), 17 August 2024
- Zero Hedge, 16 August 2024
- Jiaravanon's Fortune, 15 August 2024
- Murdoch's New York Post, 15 August 2024
- 24/7 Wall Street, 14 August 2024
- SF Gate, 13 August 2024
- Murdoch's New York Post, 13 August 2024
- Zero Hedge, 12 August 2024
- Zero Hedge, 12 August 2024
- Murdoch's Wall Street Journal (locked), 12 August 2024
- Ochs-Sulzberger's New York Times, 10 August 2024
- Murdoch's Wall Street Journal (locked), 10 August 2024
- Murdoch's Wall Street Journal (locked), 09 August 2024
- Murdoch's Wall Street Journal (locked), 09 August 2024
- Murdoch's Wall Street Journal (locked), 08 August 2024
- Comcast's CNBC, 07 August 2024
- Ochs-Sulzberger's New York Times, 07 August 2024
- Zero Hedge, 06 August 2024
- Comcast's CNBC, 06 August 2024
- Zero Hedge, 02 August 2024
- Thomson's Reuters, 01 August 2024
- Zero Hedge, 01 August 2024
- Murdoch's New York Post, 01 August 2024
- Murdoch's Wall Street Journal (locked), 30 July 2024
- Zero Hedge, 29 July 2024
- Ochs-Sulzberger's New York Times, 27 July 2024
- Zero Hedge, 26 July 2024
- Murdoch's Wall Street Journal (locked), 26 July 2024
- Ochs-Sulzberger's New York Times, 25 July 2024
- Murdoch's Wall Street Journal (locked), 25 July 2024
bribed contributed to officials in the Trump administration.
- Murdoch's New York Post, 24 July 2024
- Zero Hedge, 24 July 2024
- Murdoch's Wall Street Journal (locked), 24 July 2024
- Zero Hedge, 24 July 2024
- Zero Hedge, 23 July 2024
- Murdoch's Wall Street Journal (locked), 22 July 2024
- Zero Hedge, 19 July 2024
- Murdoch's Wall Street Journal (locked), 18 July 2024
- Thomson's Reuters, 17 July 2024
- Murdoch's Wall Street Journal (locked), 17 July 2024
- Zero Hedge, 16 July 2024
- Murdoch's Wall Street Journal (locked), 15 July 2024
- Ochs-Sulzberger's New York Times, 15 July 2024
- Ochs-Sulzberger's New York Times, 12 July 2024
- Zero Hedge, 11 July 2024
- Thomson's Reuters, 11 July 2024
- Zero Hedge, 09 July 2024
- Zero Hedge, 08 July 2024
- Alibaba's South China Morning Post, 08 July 2024
- Ochs-Sulzberger's New York Times, 08 July 2024
- Murdoch's Wall Street Journal (locked), 08 July 2024
- Ochs-Sulzberger's New York Times, 07 July 2024
- Financial Times (locked), 06 July 2024
- Murdoch's Fox News, 03 July 2024
- Murdoch's Fox News, 03 July 2024
- Zero Hedge, 02 July 2024
- Comcast's CNBC, 01 July 2024
- Murdoch's Wall Street Journal (locked), 29 June 2024
- Barron's, 29 June 2024
- Murdoch's Wall Street Journal (locked), 28 June 2024
- Ochs-Sulzberger's New York Times, 27 June 2024
- Ochs-Sulzberger's New York Times, 27 June 2024
- Murdoch's Wall Street Journal (locked), 27 June 2024
- Ochs-Sulzberger's New York Times, 27 June 2024
- Murdoch's Wall Street Journal (locked), 27 June 2024
- Zero Hedge, 26 June 2024
- Real Clear Markets, 24 June 2024
- Thomson's Reuters, 24 June 2024
- Zero Hedge, 24 June 2024
- Barron's, 22 June 2024
- Zero Hedge, 21 June 2024
- Ochs-Sulzberger's New York Times, 21 June 2024
- Murdoch's Wall Street Journal (locked), 21 June 2024
- Ochs-Sulzberger's New York Times, 20 June 2024
- Zero Hedge, 18 June 2024
- Ochs-Sulzberger's New York Times, 18 June 2024
- Zero Hedge, 18 June 2024
- Ochs-Sulzberger's New York Times, 18 June 2024
- Zero Hedge, 17 June 2024
- Murdoch's Wall Street Journal (locked), 17 June 2024
- Murdoch's Wall Street Journal (locked), 17 June 2024
- Murdoch's Wall Street Journal (locked), 17 June 2024
- Ochs-Sulzberger's New York Times, 15 June 2024
- Zero Hedge, 14 June 2024
- Ochs-Sulzberger's New York Times, 14 June 2024
- Murdoch's Wall Street Journal (locked), 14 June 2024
- Zero Hedge, 11 June 2024
- Zero Hedge, 10 June 2024
- Business Insider, 09 June 2024
- Ochs-Sulzberger's New York Times, 08 June 2024
- Zero Hedge, 07 June 2024
- Comcast's CNBC, 07 June 2024
- Warner Brothers CNN, 07 June 2024
- Bloomberg, 06 June 2024
- Bloomberg, 06 June 2024
- Ochs-Sulzberger's New York Times, 06 June 2024
- TechCrunch, 03 June 2024
- Murdoch's Wall Street Journal (locked), 01 June 2024
- Murdoch's Wall Street Journal (locked), 01 June 2024
- Murdoch's Wall Street Journal (locked), 31 May 2024
- Freight Waves, 29 May 2024
- Zero Hedge, 29 May 2024
- Zero Hedge, 29 May 2024
- Murdoch's Wall Street Journal (locked), 29 May 2024
- Murdoch's Wall Street Journal (locked), 28 May 2024
- Zero Hedge, 27 May 2024
- Comcast's CNBC, 27 May 2024
- Zero Hedge, 26 May 2024
- Ochs-Sulzberger's New York Times, 25 May 2024
- Murdoch's Wall Street Journal (locked), 25 May 2024
- Murdoch's Wall Street Journal (locked), 24 May 2024
- Warner Brothers CNN, 21 May 2024
- Ochs-Sulzberger's New York Times, 21 May 2024
- Comcast's CNBC, 20 May 2024
- Ochs-Sulzberger's New York Times, 20 May 2024
- Warner Brothers CNN, 17 May 2024
- Zero Hedge, 17 May 2024
- Murdoch's Wall Street Journal (locked), 16 May 2024
- Ochs-Sulzberger's New York Times, 15 May 2024
- Zero Hedge, 14 May 2024
- Ochs-Sulzberger's New York Times, 14 May 2024
- Murdoch's Wall Street Journal (locked), 14 May 2024
- Zero Hedge, 11 May 2024
- Zero Hedge, 11 May 2024
- Murdoch's Wall Street Journal (locked), 10 May 2024
- Zero Hedge, 09 May 2024
- Alibaba's South China Morning Post, 09 May 2024
- Zero Hedge, 08 May 2024
- Zero Hedge, 07 May 2024
- Zero Hedge, 07 May 2024
- Murdoch's Wall Street Journal (locked), 06 May 2024
- Alibaba's South China Morning Post, 03 May 2024
- Murdoch's Wall Street Journal (locked), 03 May 2024
- Murdoch's Wall Street Journal (locked), 02 May 2024
- Warner Brothers CNN, 01 May 2024
- Murdoch's Wall Street Journal (locked), 01 May 2024
- Murdoch's Wall Street Journal (locked), 01 May 2024
- Ochs-Sulzberger's New York Times, 30 April 2024
- Murdoch's New York Post, 29 April 2024
- Von Greyerz Gold, 29 April 2024
- Ochs-Sulzberger's New York Times, 29 April 2024
- Murdoch's Wall Street Journal (locked), 29 April 2024
- Zero Hedge, 27 April 2024
- Zero Hedge, 26 April 2024
- Murdoch's Wall Street Journal (locked), 24 April 2024
- Zero Hedge, 22 April 2024
- Bnod Vigilantes, 21 April 2024
- Ochs-Sulzberger's New York Times, 20 April 2024
- Ochs-Sulzberger's New York Times, 18 April 2024
- Zero Hedge, 16 April 2024
- Zero Hedge, 16 April 2024
- Murdoch's Wall Street Journal (locked), 15 April 2024
- Murdoch's Wall Street Journal (locked), 11 April 2024
- Murdoch's Wall Street Journal (locked), 11 April 2024
- Economist, 11 April 2024
- Zero Hedge, 10 April 2024
- Ochs-Sulzberger's New York Times, 09 April 2024
- Murdoch's Wall Street Journal (locked), 09 April 2024
- Murdoch's Wall Street Journal (locked), 09 April 2024
- Zero Hedge, 08 April 2024
- Zero Hedge, 05 April 2024
- Murdoch's Wall Street Journal (locked), 05 April 2024
- Comcast's CNBC, 04 April 2024
- Jiaravanon's Fortune, 01 April 2024
- Lex - Substack, 01 April 2024
- Murdoch's Wall Street Journal (locked), 01 April 2024
- Ochs-Sulzberger's New York Times, 30 March 2024
- Ochs-Sulzberger's New York Times, 30 March 2024
- Zero Hedge, 29 March 2024
- Murdoch's New York Post, 29 March 2024
- Zero Hedge, 28 March 2024
- Ochs-Sulzberger's New York Times, 27 March 2024
- Murdoch's Wall Street Journal (locked), 27 March 2024
- Murdoch's Wall Street Journal (locked), 27 March 2024
- Murdoch's Wall Street Journal (locked), 26 March 2024
- Zero Hedge, 25 March 2024
- Q Costa Rica, 25 March 2024
- Murdoch's Wall Street Journal (locked), 25 March 2024
- Murdoch's Wall Street Journal (locked), 25 March 2024
- Ochs-Sulzberger's New York Times, 19 March 2024
- Murdoch's Wall Street Journal (locked), 19 March 2024
- Zero Hedge, 18 March 2024
- Zero Hedge, 18 March 2024
- Zero Hedge, 18 March 2024
- Zero Hedge, 17 March 2024
- Murdoch's Wall Street Journal (locked), 15 March 2024
- Zero Hedge, 13 March 2024
- Zero Hedge, 12 March 2024
- Zero Hedge, 11 March 2024
- Zero Hedge, 10 March 2024
- Murdoch's Wall Street Journal (locked), 08 March 2024
- Zero Hedge, 07 March 2024
- Murdoch's New York Post, 07 March 2024
- Zero Hedge, 06 March 2024
- Zero Hedge, 06 March 2024
- Zero Hedge, 06 March 2024
- Murdoch's Wall Street Journal (locked), 06 March 2024
- Alibaba's South China Morning Post, 05 March 2024
- Murdoch's Wall Street Journal (locked), 01 March 2024
- Zero Hedge, 29 February 2024
- Ochs-Sulzberger's New York Times, 29 February 2024
- Murdoch's Wall Street Journal (locked), 29 February 2024
- Zero Hedge, 28 February 2024
- Alibaba's South China Morning Post, 27 February 2024
- Ochs-Sulzberger's New York Times, 27 February 2024
- Zero Hedge, 26 February 2024
- Barron's, 24 February 2024
- Zero Hedge, 23 February 2024
- Zero Hedge, 22 February 2024
- Alibaba's South China Morning Post, 22 February 2024
- Zero Hedge, 22 February 2024
the USA defense contractors in the USA. European rearmament and American aid to Ukraine are flowing back to the defense industrial base, enriching defense contractors and their shareholders. Everyone has to pay more taxes for the debt issued .
- Murdoch's Wall Street Journal (locked), 20 February 2024
- Benzinga, 19 February 2024
- Murdoch's Wall Street Journal (locked), 19 February 2024
- Zero Hedge, 18 February 2024
- Zero Hedge, 17 February 2024
- Murdoch's Wall Street Journal (locked), 17 February 2024
- Murdoch's Wall Street Journal (locked), 16 February 2024
- Zero Hedge, 14 February 2024
- Zero Hedge, 13 February 2024
- Zero Hedge, 12 February 2024
- The Street, 11 February 2024
In a first, Moody's downgrades the credit rating of Israel due to its invasion of Gaza
- Zero Hedge, 10 February 2024
In Sri Lanka, climate change traps women farmers in an "exploitative" cycle of economic violence. Unpredictable weather patterns have left women farmers trapped in debt as floods, droughts batter their farms, straining their ability to repay loans. Low financial literacy among rural women is exploited by the these microlenders and their predatory practices, putting them in more debt.
- Alibaba's South China Morning Post, 10 February 2024
Household belt-tightening: will the trickle become a flood of lesser spending? The top 0.1% will weather a recession just fine, but that will offer cold comfort to the other 130 million American households. Will consumer-related stocks suffer?
- Zero Hedge, 09 February 2024
So-called 'zombie-offices' spell trouble for some banks. Bank tremors serve as a reminder: Just because a crisis has not hit immediately does not mean commercial real estate pain is not coming. A recent study estimates that 14 percent of all commercial real estate loans -- and 44 percent of office loans -- are underwater.
- Ochs-Sulzberger's New York Times, 09 February 2024
$300,000,000 -
Attorneys for the family of Governor Jim Justice of West Virginia are seeking to block a Virginia bank from plans to auction off land at the governor's posh resort to recover more than $300 million on defaulted business loans.
- Zero Hedge, 08 February 2024
Average credit card balances jump 10% to a record $6,360 as more consumers fall behind on payments. Total credit card debt also reached a record $1.13 trillion in the latest quarter. As consumers increasingly lean on their credit cards, more borrowers are also struggling with their payments.
- Comcast's CNBC, 08 February 2024
The national debt of the USA is predicted to reach $54 trillion over the next ten years, an increase of $19 trillion. Congressional Budget Office projections released on Wednesday said a growing economy and recent spending cuts had slowed deficits.
- Ochs-Sulzberger's New York Times, 08 February 2024
Credit cards could swipe the profits of department stores. A government crackdown on late fees for missed payments (from $41 to $8), and more delinquent credit card accounts poses a threat to Macy's, Kohl's, Nordstrom and others. Credit card income accounted for 49% of operating income in 2022 for Macy's, and 44% for Nordstrom's.
- Murdoch's Wall Street Journal (locked), 08 February 2024
Big Banks are well positioned to prosper from the distress at smaller banks due to failing loans associated with commercial real estate
- Zero Hedge, 07 February 2024
TAG, a big landlord in Germany, warns home prices could 30% from their peaks in 2022. Properties are already down 10%.
- Thomson's Reuters, 07 February 2024
Shares of New York Community Bancorp crash despite reassurances that there is "virtually" no outflow of deposits from branches
- Zero Hedge, 07 February 2024
The credit rating of New York Community Bancorp reduce to 'junk' status (from Ba2 to Baa3) by Moody's, the ratings agency. 33% of NYCB's deposits are uninsured. Higher interest rates on commercial real estate loans managed by the bank are creating higher maintenance costs for the borrowers, and the value of the collateral in the properties has been reduced..
- Murdoch's Wall Street Journal (locked), 06 February 2024
A record $10 trillion in Treasury Bonds need to be sold in 2024. Someone will need to buy more than $10 trillion in USA government bonds in 2024. That is more than one-third of US government debt outstanding. And more than one-third of US GDP.
- Zero Hedge, 04 February 2024
The financial squeeze on businesses in Britain is not letting up soon. Company insolvencies hit a three-decade high, with businesses under pressure from high debts, prices and interest rates.
- Ochs-Sulzberger's New York Times, 02 February 2024
The war in Gaza between Israel and Hamas, is exacerbating the economic collapse of Egypt
- Economist, 01 February 2024
Commerce between Africa and Zhōngguó rose to $282 billion in 2023, but Africa's trade deficit with Zhōngguó reached $64 billion as Zhōngguó recorded a drop in trade with top partners on continent which are predominantly resource-rich.
- Alibaba's South China Morning Post, 01 February 2024
Banks around the world are losing money as commercial real estate losses increase. The value of many buildings has plummeted as millions of workers have stuck with pandemic-era remote working, leaving vast tranches of office space vacant or underused. At the same time, historically high interest rates have made it harder for real estate developers -- who often take out huge loans to finance projects -- to make good on their repayments.
- Murdoch's Wall Street Journal (locked), 01 February 2024
Businesses and consumers are borrowing again. Falling interest rates have spurred debt sales by highly rated and riskier borrowers.
- Murdoch's Wall Street Journal (locked), 30 January 2024
Zhōngguó Evergrande was once the biggest developer of properties in Zhōngguó. Now, it has been ordered to liquidate because of its massive debts.
- Murdoch's Wall Street Journal (locked), 29 January 2024
Zhōngguó Evergrande was once the biggest developer of properties in Zhōngguó. Now, it has been ordered to liquidate because of its massive debts.
- Ochs-Sulzberger's New York Times, 29 January 2024
While Asian countries won't sell their huge Treasury Bond portfolios, they may be less interested in buying a lot of the $2 trillion in Treasury Bonds that the USA needs to sell this year. And if one country starts selling, they will all start selling, send up bond yields (and the debt problems of the USA) up sharply.
- Murdoch's Barron's, 27 January 2024
The latest GDP number was great. There Is Just One Huge Problem. It now takes $1.55 in budget deficit spending to generate $1 of growth, and it takes over $2.50 in new debt to generate $1 of GDP growth!
- Zero Hedge, 26 January 2024
Credit card debt has greatly increased -- and it is taking longer to pay down the debt. From fuel and groceries to hotels and airline tickets, consumers are putting more purchases on credit cards -- and taking longer to pay them off.
- Murdoch's Wall Street Journal (locked), 25 January 2024
WeWork withholds $33 million in January rent as lease renegotiation tactic. The co-working company has been in bankruptcy nearly three months and its lease-restructuring efforts appear to be intensifying.
- Murdoch's Wall Street Journal (locked), 25 January 2024
Medical scrubs designer and distributor Careismatic Brands filed for bankruptcy to eliminate $833 million in debt, a restructuring prompted by falling demand and higher interest rates
- Murdoch's Wall Street Journal (locked), 24 January 2024
VistaJet, a privately-owned company managing private jets, had a big expansion during the Covid pandemic. But the huge debts it incurred are not only a threat to the company, but to Bombardier, a private jet builder in Canada.
- Murdoch's Wall Street Journal (locked), 23 January 2024
VistaJet, a privately-owned company managing private jets, had a big expansion during the Covid pandemic. But the huge debts it incurred are not only a threat to the company, but to Bombardier, a private jet builder in Canada.
- Murdoch's Wall Street Journal (locked), 23 January 2024
As delinquencies spike, banks are "granting fewer credit lines", cenbnk[USA] analysts warn
- Zero Hedge, 22 January 2024
Companies are on a $150 billion debt binge, borrowing at the fastest pace to start the year in 3 decades. Firms took out a record $150 billion in bond-issued debt this month, the most ever recorded in the first few weeks of January.
- Business Insider, 22 January 2024
Massive deficit spending is keeping the 'capitalist?' economy of the USA out of recession (for now). The 2-year yearly change in tax receipts has fallen well below the 2% warning line.
- Zero Hedge, 20 January 2024
A 'hot' market for debt is slashing borrowing costs for riskier companies. Companies with low credit ratings are rushing to reduce their borrowing costs even before the Federal Reserve makes a single interest-rate reduction.
- Murdoch's Wall Street Journal (locked), 20 January 2024
$100,000,000+ -
CFPB and seven state attorneys general sue a debt-relief business, Strategic Financial Solutions, for illegally swindling more than $100 million from financially struggling families
- ConsumerFinance.gov, 19 January 2024
Majority of President Biden's $136 billion student loan forgiveness scheme going to "public servants"
- Zero Hedge, 19 January 2024
Ballooning credit and (delayed) interest rate reductions: a perfect storm for default. There is unfortunately no end in sight for consumers who are already borrowing just to finance basic needs.
- Zero Hedge, 18 January 2024
Yet another recession red flag: net saving is negative. The only other times net saving has gone negative is in the lead-up to the great 2008 recession, and during the Covid recession.
- Zero Hedge, 17 January 2024
Analyst warns of a potential bankruptcy of Spirit Airlines
- Zero Hedge, 17 January 2024
The bill is coming due on a record amount of commercial real estate debt. More than $2.2 trillion in debt is maturing before 2028, and much of that will have to be refinanced at higher interest rates.
- Murdoch's Wall Street Journal (locked), 17 January 2024
Standard & Poors predicts corporate debt defaults will be high again in 2024, after soaring 80% in 2023 to 153 defaults
- Comcast's CNBC, 17 January 2024
Consumers in the USA are spending themsleves into a historic debt binge, and delinquencies are ominously rising. Americans are going into debt as if tomorrow will never come, but of course tomorrow always arrives eventually.
- Zero Hedge, 16 January 2024
Northvolt, one of the most valuable battery startups in the world, is is raising $3.4 billion in debt from the European Union and a group of banks including JPMorgan Chase, to increase battery production at a factory in northern Sweden for customers sucha as Volkswagen. This investment will accelerate a race to build more batteries outside Zhōngguó and take advantage of a tidal wave of clean-energy subsidies.
- Murdoch's Wall Street Journal (locked), 16 January 2024
For some young people, a college degree is not worth the debt. Because of (criminally) high costs, some high school graduates have opted to delay, drop out of or forgo attending college altogether to avoid student debt that could hang over them for decades.
- Ochs-Sulzberger's New York Times, 15 January 2024
Zhōngguó is pummeled by dire date for deflation, trade and credit -- as labor strikes and protests explode
- Zero Hedge, 12 January 2024
60% of the global economy is in for a 'lost decade' due to record debt and high interest rates. Developing countries will have a hard time breaking the vicious cycle of debt and poverty, World Bank economists warn.
- Zero Hedge, 12 January 2024
The US budget deficit soars by 50% in December as the fiscal collapse accelerates due to spending by Democrats and Republicans
- Zero Hedge, 11 January 2024
Republican and Democrat politicians in Washington are lying when they say that some of their new spending are actually "tax cuts"
- The Hill, 11 January 2024
Consumer credit shocker: consumer debt in November soars after second biggest surge in credit card debt on record. This, despite the average interest rate on credit card accounts in Q4 flat at a record high 22.75% for the second quarter in a row.
- Zero Hedge, 08 January 2024
Bankruptcies in the USA increase 18% in 2023 amid high interest rates
- Zero Hedge, 05 January 2024
The national debt of the USA rises to a record $34 trillion
- Zero Hedge, 03 January 2024
New York City and San Francisco are the leading cities with the heaviest debt-loads for CRE office space, followed by Chicago and Los Angeles
- Zero Hedge, 02 January 2024
It has been three months since the federal government resumed student loan payments, but many borrowers have refused to pay a single penny.
- Zero Hedge, 01 January 2024
