Independent thinking for complex markets and current events
NEW York City real estate tycoon Brandon Miller had almost $34 million in debt before he died by suicide. Miller had only $8,000 in his bank account when he died in July, legal documents show. Miller was married to the influencer Candice Miller, who runs the popular lifestyle blog Mama and Tata. The second-generation businessman …
TL;DR: Derivatives Danger: Four major U.S. banks hold 87% of all derivatives, totaling $168.26 trillion. Dodd-Frank Failure: The 2010 law failed to prevent the return of risky derivatives practices. Leverage and Off-Balance Sheet Debt: Megabanks have excessive leverage and hide debt off their balance sheets. Financial Crisis Repeat: The current situation resembles the 2008 crisis, with risks like those …
by confoundedinterest17 Too much debt? Kamala Harris doesn’t think so. She is proposing economic policies costing $1. 7 trillion without sufficicent offsets. Harris is putting the US on the path to default, following numerous other badly managed nations, like Ukraine and Greece. And much of Latin America. The US is already at $35+ trillion with unfunded liabilties totalling …
U.S. household debt has reached a record $17.8 trillion as of the second quarter of 2024. This includes significant increases in mortgage balances, auto loans, and credit card debt. Regarding delinquencies, there has been a notable rise. Serious delinquencies (90 days or more overdue) for credit card debt have surged to 7.18%, and auto loan delinquencies have also …
by confoundedinterest17 This scene from the film “McCabe and Mrs. Miller” sums up our political plight quite nicley. Politicians spend like crazy to stay in power (Biden/Harris) are excellent examples). Politicians promises endless money, then shoot the economy. The US is broke and relies on printing money and boowed funds to stay afloat. Harris wants to …
Almost half of all Americans are still paying off debt that they accumulated last year for a summer vacation, which is alarming news considering about half expect to go into more debt this year for more vacation. It’s things like this that are making the economy look so much better than it really is because …
The clock is ticking, problems may deepen Why do small banks have such big problems? Many Chinese cities and even entire regions are drowning in debt. The liabilities were so high that local government representatives sent envoys to Beijing in the spring. They are negotiating terms for repaying billions in loans. Unpaid debts are increasingly …
With courts blocking Biden's student loan plans to cancel debt, the Feds have paused payments and interest. pic.twitter.com/vp4TDT8qyf — Wall Street Mav (@WallStreetMav) July 2, 2024 In response to court rulings blocking key elements of the federal government’s new student loan repayment program, the Biden administration will be giving about 3 million borrowers a reprieve …
Central banks were recently asked why they buy gold. Their responses were not surprising but reassuring. Almost 50% of respondents cited three main reasons: No default risk. Strong performance during crises. Historical significance. In reality, no other asset matches gold’s… pic.twitter.com/G982GBnL0q — Otavio (Tavi) Costa (@TaviCosta) June 22, 2024 Central banks have indeed been increasing …
Japan 🇯🇵 just sold $17 billion worth of Foreign Debt, the largest sale in 9 years pic.twitter.com/0PGOst9UET — Win Smart, CFA (@WinfieldSmart) June 13, 2024 Japan recently conducted a significant debt sale, marking the largest such sale in nine years. Here are the key points: Japan sold $17 billion worth of foreign debt. This sale …
by confoundedinterest17 Too much debt should be the theme song for the US! Both for consumers and the Feral government (not a typo!) Consumer credit increased by +$6.403 billion in April, much softer than consensus estimate of +$10 billion … more notable, however, was March data, given initial read of +$6.274 billion was revised down to …
I think people are going into massive credit card debt. — Robin Flynn (@RobinFlynn2014) May 30, 2024 Jamie thinks stagflation is now unavoidable at this point. Solid read pic.twitter.com/1GxmSzSVkv — QE Infinity (@StealthQE4) May 29, 2024 Article: https://t.co/4D8UiezEoi — E.J. Antoni, Ph.D. (@RealEJAntoni) May 30, 2024
Rep Jodey Arrington criticizes Joe Biden’s budget proposal by alleging that it will lead to record levels of government spending, borrowing, and taxation, potentially exacerbating inflation, interest rates, and living costs for working families. It expresses concern that these policies could steer the country toward economic instability and a sovereign debt crisis, while also implying …
In a remarkable turn of events, recent polls indicate a significant shift in public sentiment against NPR, with voters now rallying behind the elimination of taxpayer funding by a substantial 18-point margin. This surge of support underscores a growing consensus among taxpayers who seek fiscal responsibility and accountability in government spending. Looking ahead, conservatives are …
This is nothing short of a crisis for young Americans. The staggering increase in debt levels among Gen Z, coupled with stagnant earnings, paints a grim picture of financial stability for the next generation. It’s alarming to see that despite earning less, they’re saddled with significantly more debt than Millennials were a decade ago. With …
Senators Bernie Sanders and Jeff Merkley, along with Representatives Ro Khanna and Rashida Tlaib, introduced a bill to wipe out $220 billion in medical debt for millions of Americans, erase it from credit reports, and curb future medical debt. The legislation aims to alleviate the financial burden of healthcare costs, which have driven many into …
The US faces a fiscal dilemma as record spending, deficits, and debt levels clash with inflationary green energy policies, potentially sparking a conflict between the Federal Reserve and government. Key points: Record non-crisis spending, deficits, and debt levels pose fiscal challenges with no end in sight. Green energy policies, like those in Germany, have led …
🤔 pic.twitter.com/yMjKswts0g — Tom Elliott (@tomselliott) April 23, 2024 Vote for him 👇 we must primary loser Don Liz Cheney Bacon out of office. https://t.co/0qqulWjZ7v — Catturd ™ (@catturd2) April 23, 2024
In fiscal year 2024, the U.S. national debt has become a critical concern, with its interest expenses surpassing spending on the military. Let’s delve into the details: National Debt and Interest Costs: The national debt has reached $34 trillion, an unprecedented amount in the nation’s history. During the first half of FY2024, interest expenses on this debt totaled $440 billion1. This represents a 43% increase compared to …
via Mike Shedlock Let’s investigate US treasury debt issuance by month and year. Data courtesy of SIFMA, chart by Mish Chart Notes Bills: Treasury bills are short term debt ranging from four weeks to 52 weeks. Bills are sold at a discount or at par (face value). When the bill matures, you are paid its …
Bank of America CEO Brian Moynihan and Joao Gomes, vice dean of Wharton, warn of an impending fiscal crisis due to escalating US national debt. They call for prioritizing debt payment, tightening fiscal policies, and a fundamental change in government budget management. The Congressional Budget Office (CBO) predicts public debt could reach 166% of the …
Desperate property developers in China have resorted to gifts like new cars, free parking spaces, phones and other consumer goods to attract homebuyers and boost flagging sales. These incentives are just the tip of the iceberg in a crisis involving hundreds of billions of dollars in home builder debt, trillions in local government debt and …
(Bloomberg) — There’s a subtext to this year’s blistering rally in US risk assets: When it comes to the dollar, there is no alternative. The greenback is just shy of the record it reached during the pandemic and on pace for its best year since 2020. As measured against the currencies of America’s largest trading …
It's in the nature of the monetary system for these ratios to go exponential. In the short term, something might give way, but in a few years, we'll be repeating this conversation as the debt level has surged exponentially. pic.twitter.com/mS05NNJ3UJ — Phoenix Capital (@PhoenixCapitalH) February 15, 2024 70% of largest U.S. cities lack funds to …
Interest payments on $34 trillion US national debt will exceed DEFENSE spending this year – as legendary investor Paul Tudor Jones says a ‘debt bomb’ set to go off in US Interest payments on the US national debt will eclipse defense spending in 2024, grim new projections show. Federal debt is at a historic high, …
Bank of America CEO Brian Moynihan says ‘we need to get after’ America’s $34tn national debt: ‘You can either admire the problem or do something about it’ Wall Street is officially done ignoring the government’s eye-watering national debt bill. JPMorgan’s Jamie Dimon says it’s a global “rebellion” waiting to happen, with Bank of America CEO …
This is a dire situation; the staggering $8.9 trillion government debt maturing soon is alarming. With a projected $1.4 trillion deficit in 2024, over $10 trillion in US government bonds need buyers, almost a third of the current federal debt. The Fed’s plan to cut rates adds to the challenge. The surging debt service costs, …
Imagine having dreams as big as the sky but facing a mountain of student debt as you step into the world of higher education. It’s a tough choice, and according to a recent New York Times article, some high school graduates are saying, “No, thanks!” Whether it’s hitting pause, dropping out, or giving college the …
