debt

  1. The World Is Now $217,000,000,000,000 In Debt and The Global Elite Like It That Way

    The World Is Now $217,000,000,000,000 In Debt and The Global Elite Like It That Way
    The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers.  Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation.  As the elite get governments around the globe in increasing amounts of debt, those governments must...
  2. If You Speak German, You’re More Likely to Be a Penny Pincher

    If You Speak German, You’re More Likely to Be a Penny Pincher
    Once again, it’s the German speakers who pinch their pennies. At least that’s the conclusion of a European Central Bank working paper by Benjamin Guin. He looked at Switzerland, a country boasting three major linguistic and cultural groups, where most policies and laws such as interest rates or taxes that affect savings rates are set at a national or cantonal level. Source: ECB Working...
  3. There Is Only One Way Out of Debt-Serfdom: Fanatic Frugality

    There Is Only One Way Out of Debt-Serfdom: Fanatic Frugality
    Debt is serfdom, capital in all its forms is freedom.  If we accept that our financial system is nothing but a wealth-transfer mechanism from the productive elements of our economy to parasitic, neofeudal rentier-cartels and self-serving state fiefdoms, that raises a question: what do we do about it? The typical answer seems to be: deny it, ignore it, get distracted by...
  4. Mongolia Expects IMF Bailout to Happen 'Soon' After Postponement

    Mongolia Expects IMF Bailout to Happen 'Soon' After Postponement
    Mongolia will work to get its bailout approved soon, according to a senior finance ministry official, after the International Monetary Fund postponed a vote on it over concerns about a new law that affected foreign exchange and investment. "We are working towards resolving this issue as soon as possible and we hope that once it’s resolved the IMF board meeting will...
  5. Asian Nations Swimming in Debt at Risk From Fed Rate Hikes

    Asian Nations Swimming in Debt at Risk From Fed Rate Hikes
    Twenty years after the Asian financial crisis and a decade since the global credit crunch, the region is swimming in debt. The debt binge is spread across companies, banks, governments and households and is inflating bubbles in everything from the price of steel rebar in Shanghai to property prices in Sydney. As the Federal Reserve raises borrowing costs, that means debt...
  6. Indonesian Bad Loans to Worsen, Bailout Agency Says

    Indonesian Bad Loans to Worsen, Bailout Agency Says
    The non performing loan problem at Indonesia’s banks is likely to get worse, keeping economic growth below 6 percent over the coming two years as lenders hold back from boosting credit, according to a top official at the country’s deposit insurance agency. “We haven’t seen the bottom for NPLs because commodity prices are still volatile and we see uncertainties that...
  7. Auto Debt Spoiling for a Wreck

    Auto Debt Spoiling for a Wreck
    For the past few months, clouds over the $1.2 trillion market for U.S. auto debt have grown darker. The latest round of investor hand-wringing came last week when Ally Financial warned its profit would grow less than expected because of falling used-car values. That built on angst triggered by Ford Motor Co.'s decision in November to cut $300 million from its credit arm’s profit forecast...
  8. China Debt Risks Go Global Amid Record Junk Sales Abroad

    China Debt Risks Go Global Amid Record Junk Sales Abroad
    China’s riskiest corporate borrowers are raising an unprecedented amount of debt overseas, leaving global investors to shoulder more credit risks after onshore defaults quadrupled in 2016. Junk-rated firms, most of which are property developers, have sold $6.1 billion of dollar bonds since Dec. 31, a record quarter, data compiled by Bloomberg show. In contrast, such borrowers have slashed fundraising at home...
  9. This New Bubble Is Even Bigger Than The Subprime Fiasco

    This New Bubble Is Even Bigger Than The Subprime Fiasco
    In 1988, a bank called Guardian Savings and Loan made financial history by issuing the first ever “subprime” mortgage bond. The idea was revolutionary. The bank essentially took all the mortgages they had loaned to borrowers with bad credit, and pooled everything together into a giant bond that they could then sell to other banks and investors. The idea caught...
  10. EU Pressures Greece to Resolve Issues as New Debt Crisis Looms

    EU Pressures Greece to Resolve Issues as New Debt Crisis Looms
    The euro area pressured Greece to resolve outstanding pension and labor-market issues with its bailout creditors, as the country missed yet another deadline for unlocking funds this week. The currency bloc’s finance ministers meeting in Brussels on Monday said that the government of Alexis Tsipras has yet to comply with the terms attached to the emergency loans that have kept...

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