Economy

“The Global Debt Crisis Continues As More Than 40 Countries Are At Risk of Debt Default”

“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…

Economy

“Apple chipmaker TSMC warns Taiwan-China war would make everybody losers”

“If China were to invade Taiwan, the most-advanced chip factory in the world would be rendered “not operable,” TSMC Chair Mark Liu said in an English-language interview with CNN this week. In the undated interview, Liu said that if Taiwan were… Continue Reading…

Economy

“US Household Debt Surpasses $16 Trillion on Higher Mortgages”

“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…

Economy

“Inflation: ‘No quick relief in rent increases,’ economist explains”

“Inflation has been a persistent nightmare, and rising rents nationwide are partly to blame. Unfortunately for renters, things are unlikely to get better this year. “No quick relief in rent increases,” Alan Detmeister, a senior economist at UBS, told Yahoo… Continue Reading…

Economy

“Difficulty Paying Bills Tops Pandemic High in US Census Survey”

“…The survey shows a sharp increase in financial stress in all of the country’s large metropolitan areas. In Dallas, for example, the share of respondents having difficulty paying bills jumped to about to 45.9% from 27.9% a year earlier. The… Continue Reading…

Economy

“Russia and Ukraine Finally Reach A Grain Export Agreement”

“EDITOR’S NOTE: Perhaps there was some hope that global grain prices would ease as soon as Russia and Ukraine reached a grain export agreement, allowing the latter to resume its exports. If anything, it would have helped ameliorate the global… Continue Reading…

Economy

“Jobless claims rise again in another sign that labor market is cooling”

“Initial jobless claims hit their highest level since mid-November last week, the latest sign that a historically tight labor market is beginning to slow, according to Labor Department data released Thursday. Claims totaled 251,000 for the week ended July 16, up 7,000… Continue Reading…

Economy

“Long lines are back at US food banks as inflation hits high”

“…Inflation in the U.S. is at a 40-year high and gas prices have been surging since April 2020, with the average cost nationwide briefly hitting $5 a gallon in June. Rapidly rising rents and an end to federal COVID-19 relief have also taken a… Continue Reading…

Economy

“Americans Have Never Lost So Much Purchasing Power In One Year”

“EDITOR’S NOTE: It’s a new set of generations experiencing what Silent Gen folks and Baby Boomers had to endure in the 1970s: Americans losing so much purchasing power in a given year. Theirs lasted a decade, while ours is just over… Continue Reading…

Economy

“Euro And Dollar Parity Signals A Deep Recession”

“EDITOR’S NOTE: Today €1 = $1. This means the euro has declined to reach parity with the US dollar.  What’s the significance? It’s going to cost European producers and consumers more to import stuff from the US. By the same token, it’ll… Continue Reading…