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Economy

“Six-Month Federal Budget Deficit: $1.1 Trillion”

“Washington continues to spend like deficits and debt don’t matter, and the politicians would rather you don’t know. For the record, the Congressional Budget Office reported Monday that the federal budget deficit for the first six months of fiscal 2024,… Continue Reading…

Cryptocurrencies

“Ripple CEO predicts crypto market will double in size to $5 trillion by the end of 2024”

“…Ripple’s Brad Garlinghouse told CNBC he expects the entire value of the crypto market to double, citing macro factors including the arrival of the first U.S. spot bitcoin exchange-traded funds, as well as the upcoming so-called bitcoin “halving.”…” https://www.cnbc.com/2024/04/08/ripple-ceo-crypto-market-to-double-in-size-to-5-trillion-in-2024.html

Business, Economy

“The wealth of the 1% just hit a record $44 trillion”

“…The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve. The total net worth of the… Continue Reading…

Banking, Economy

“The $27 Trillion Treasury Market Is Only Getting Bigger”

“The world’s largest, most-important financial market is growing by leaps and bounds. On Wall Street, that is making people nervous. Annual issuance of U.S. Treasurys has exploded, nearly doubling since the pandemic began. The government sold a record $23 trillion worth in… Continue Reading…

Stocks

“1  Unstoppable Stock That Could Join Nvidia, Apple, Microsoft, Amazon, Alphabet, and Meta in the $1 Trillion Club”

“…AI could soon propel Oracle (NYSE: ORCL) to a $1 trillion valuation, too. It operates industry-leading AI data center infrastructure, and the company is building capacity at a record pace because it simply can’t keep up with demand. As of this writing, Oracle… Continue Reading…

Business

“Stripe reveals it passed $1 trillion in total payment volume in 2023”

“Fintech giant Stripe revealed in its annual letter published Wednesday that it surpassed $1 trillion in total payment volume in 2023, up 25% from 2022. The milestone, which comes 15 years after the company was founded, offers a glimpse into the financials… Continue Reading…

Economy

“…Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: ‘It could derail the next administration’”

“…Gomes predicts America’s $34 trillion debt burden may upset the world’s financial markets as early as next year—should a president-elect announce a raft of expensive policies. And remember the UK’s mortgage meltdown following a disastrous premiership under Prime Minister Liz… Continue Reading…

Banking, Economy

“The U.S. national debt is rising by $1 trillion about every 100 days”

“The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days. The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark… Continue Reading…

Economy

“Credit card debt hits a ‘staggering’ $1.13 trillion…”

“Americans now owe a collective $1.13 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances increased by $50 billion, or roughly 5%, in the fourth quarter of 2023,… Continue Reading…

Economy

“$6 Trillion in Taxes Are at Stake in This Year’s Elections”

https://www.wsj.com/politics/policy/6-trillion-in-taxes-are-at-stake-in-this-years-elections-ee4353ed This article is behind a pay wall but let me guess. Republicans want tax cuts and Democrats don’t. As for the “powers that be” They see Donald Trump winning the election. “U.S. executives in Davos see a Trump victory… Continue Reading…