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 […]
Membership in the group will “help reduce the Western dominance generally,” Muda Yusuf told RT The prominent Nigerian economist claimed that BRICS memberships are a “win-win situation.” On Tuesday, speaking during an exclusive interview to […]
A US-China clash over the self-ruled island would cost the world some $10trn, the business news outlet estimates If the US and China were to have a military showdown over the island of Taiwan, the […]
Beijing has been actively investing in manufacturing to support the economy in light of the real-estate crisis China’s decision to focus its economic efforts on manufacturing could provoke a new trade war with other global […]
It will take some time until the official figures are available, but last year the German economy likely shrank. Looking back, economists and industry associations have rarely been so unanimous in their views: 2023 was a year […]
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