(Bloomberg) — When the US borrows money, it needs to pay its loans back with interest—just like any other borrower. But America’s national debt is currently $34 trillion and rising. Soon, the US will need […]
The Finance Committee in the Iraqi parliament made a statement on 31 January calling for the sale of oil in currencies other than the US dollar, aiming to counter US sanctions on the Iraqi banking system. “The […]
The EU’s industrial powerhouse is plagued by falling orders and growing production costs Germany’s automobile industry is in decline and the country needs assistance to salvage it, Russian President Vladimir Putin said during a visit […]
Jamie Dimon calls for the snowballing US debt burden to be addressed before it turns into crisis The US economy is heading towards disaster as the vast national debt continues to mount, JPMorgan CEO […]
The economy grew solidly. The debt spiked. By Wolf Richter for WOLF STREET. The US government debt is measured in “current dollars,” meaning: not adjusted for inflation. So we compare it to GDP in “current dollars,” not adjusted […]
This is funny, in a central-bank kind of way. By Wolf Richter for WOLF STREET. The Fed confirmed today in a press release at 7 PM EST that its infamous tool to deal with the March 2023 bank-panic […]
The number of UK businesses on the brink of bankruptcy skyrocketed by more than a quarter at the end of last year amid a “debt storm” triggered by a series of interest rate hikes, a […]
About 63% of solar installer members in California are facing cash flow issues following a new policy that reduced homeowner incentives. Rooftop solar system sales in the state have plummeted by 85% compared to the […]
When Congress voted to spend hundreds of billions to switch electricity production to solar and wind, it forgot something: transmission lines. New ones will be needed going to the locations of the new power sources, […]
The US banking giant Citigroup has announced plans to cut up to 20,000 jobs after reporting a steep quarterly loss of $1.8 billion for the last three months of 2023 – its worst in 15 […]
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