February 3, 2023
“On the heels of another rate hike this week by the Federal Reserve, credit card annual percentage rates are already near 20%, on average, and set to climb even higher. At the same time, more consumers are leaning on credit to afford increasingly expensive… Continue Reading…
February 2, 2023
“The debt limit standoff between Republicans and Democrats has elevated questions about creative solutions for averting a crisis, including one that at first blush might seem unthinkable: Could minting a $1 trillion platinum coin make the whole problem go away? What was… Continue Reading…
January 27, 2023
“Bed Bath & Beyond said Thursday it doesn’t have enough cash to pay down its debts and it has defaulted on its credit line with JPMorgan, warning once again of a potential bankruptcy. Shares of Bed Bath plunged Thursday afternoon,… Continue Reading…
January 20, 2023
“The U.S. officially hit its $31.4 trillion debt ceiling on Thursday – launching a ticking time bomb toward a potentially “calamitous” debt default. Unable to break the political deadlock in Congress, the Treasury will now take “extraordinary measures” to ensure… Continue Reading…
August 9, 2022
“EDITOR’S NOTE: Sri Lanka’s economy seemed to have flourished for nearly two decades thanks to loans from China. But with inflation soaring and interest rates rising across the globe, China’s lines of credit ended up strangling the nation’s economic prospects.… Continue Reading…
August 2, 2022
“US household debt increased by 2% to $16.2 trillion in the second quarter, with mortgages, auto loans and credit-card balances all seeing sizable increases, according to a report by the New York Federal Reserve Bank. The increase in borrowing, which… Continue Reading…
July 26, 2022
“In an economy that has produced the highest inflation rate since 1981, Americans are struggling to keep up with expenses and are putting less money aside for emergencies or long-term financial goals, several recent studies show. Nearly 40% of consumers cannot put any… Continue Reading…
July 19, 2022
“China’s holdings of U.S. debt have fallen below $1 trillion for the first time in 12 years amid rising interest rates that have made Treasurys potentially less attractive. Continuing a trend that began early in 2021, China’s portfolio of U.S.… Continue Reading…
June 30, 2022
“EDITOR’S NOTE: It’s a good thing that in most cases, there’s no legal obligation for children to pay their parents’ debts. Unless we’re dealing with an estate, individual debts typically pass with the debtor. But imagine for a moment that this… Continue Reading…
April 21, 2022
“For some consumers, medical debt they don’t even owe appears to ends up haunting them anyway. Complaints jumped 31% from 2018 to 2021 about debt collectors attempting to get consumers to fork over amounts that already were paid or otherwise… Continue Reading…
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