Monday, February 26, 2024 – Large US banks are facing potential risks as bad commercial real estate debt has outpaced the reserves held to cover such loans for the first time since the 2008 financial crisis, filings with the Federal Deposit Insurance Corporation (FDIC) said last week. The filings said the data showed a significant […]
Catenaa, Thursday, January 2, 2025-Credit card defaults in the US have reached their highest level since the Great Recession, raising alarm among economists and business leaders. According to data from BankRegData, lenders wrote off $46 billion in delinquent credit card balances between January and September 2024, a 50% increase from the same period last year. […]
Catenaa, Tuesday, December 24, 2024 – America’s growing reliance on debt could trigger a major economic downturn, warns Ruchir Sharma, chair of Rockefeller International, as he predicts the “bubble” of US economic dominance will soon burst. In a recent column in the Financial Times Sharma underscored the dangers of excessive deficit spending, noting that $2 […]
WASHINGTON, Monday, July 31 – The U.S. national debt has skyrocketed to $30 trillion, a level that is unsustainable and threatens the country’s economic security, the Cato Institute warned on Tuesday. The libertarian think tank said that the debt has increased by $8 trillion since President Joe Biden took office in January 2021, and is […]
RIYADH, Saudi Arabia, Monday, May 6, 2024 – The world’s debt burden has reached alarming levels, comparable to those seen during the Napoleonic Wars, according to World Economic Forum President Borge Brende. The World Economic Forum (WEF) convened a meeting in Riyadh, Saudi Arabia, on April 28 and 29 to address critical challenges facing the […]