BEIJING — A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order. "In our opinion, the United States has already been
Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China's central bank said on Wednesday. The idea of a technical default -- essentially delay
On the rare occasion that I’m bored, I like to watch 24-hour news television for entertainment. It’s hilarious watching the talking heads spin out of control in apoplectic fits when they’re essentially arguing the same point.
The Fed estimated that the value of household real estate fell $339 billion in Q1 to $16.1 trillion in Q1 2011, from just under $16.5 trillion in Q4 2010. The value of household real estate has fallen $6.6 trillion from the peak - and is still fall..
The $61.6 trillion in unfunded obligations amounts to $527,000 per household. That's more than five times what Americans have borrowed for everything else — mortgages, car loans and other debt. It reflects the challenge as the number of retirees soar
Fed to end $600B purchase of bonds
The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.
China warns U.S. debt-default idea is "playing with fire ... Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts
The research I've laid out in the past few days suggests interest rates are inevitably headed higher. But how much higher?
Shopping center construction in the U.S. has hit a 40-year low, according to research from the CoStar Group. Editor Note: Make that a 52 year low.
After being subjected to a national financial crime wave with no meaningful consequences for white collar criminals, the middle class, the core of many cities and communities, is being subjected to a physical crime wave.
There is nothing to excuse last week's once again disappointing jobless claims number which came at 427K, even as the lemming horde was expecting an improvement to 419K.
Six weeks ago this column observed the price of gold having pass $1,500, the U.S. economy was already in a downturn, and that it would be foolhardy to wait for always backward looking and unreliable statistics to reveal what gold already had.
There is a great deal of uncertainty among investors about what the future of the U.S. economy may look like – so I decided to take a stab at what’s likely to happen over the next 20 years.
Acting on orders from the U.S. Department of Education, a S.W.A.T. team broke into a California home Tuesday at 6 a.m. and roughed up a man — reportedly because of his estranged wife’s defaulted student loans.
There Are No Safe Banks - Only shaky, fraudulent, fractional-reserve operations, says Gary North. / Ron Paul: 'I'm Running Against John Maynard Keynes' - Ron talks to Lew about the meaning of his campaign. / Your Economic Future - Best case, worst ca
On a year over year basis, the PCI was flat in May. This was disappointing in that it ended a string of seventeen straight months of year over year improvement in the index
The company wants to play a key role in electronic mobile payments, but faces big challenges and big competition.
In his latest speech, Ben Bernanke draw particular attention to the long-term unemployed as a matter of particular concern.
War is the worst thing that can happen to an economy, but it’s also the most likely thing at this point. When the going gets tough, the people in charge like to blame somebody else for the problem. That’s compounded by the foolish – but widely...
Paul Farrell explains: "Got your “Evil Plan” yet? You really need one. For self-defense, attacks, plain old survival. Why? Things are bad folks. And they’re going to get much worse. Trust no one. Believe nothing you hear. Nothing...
Countries everywhere are facing debt crises today, precipitated by the credit collapse of 2008.
The number of respondents who think things in the US are now on the "wrong track" is shooting up. This can't be good for things like spending, or other economic factors dependent on a robust consumer.
Eighty-nine percent of Americans say the economy is in bad shape; 57 percent say the recovery has not started and 66 percent said the United States was seriously on the wrong track.
And if we’re right, this double-dip will be followed by a period of weak growth…followed by a triple dip. And then a quadruple dip. And then a quintuple dip.
Freedom Watch with Judge Napolitano. Monday, June 6, 2011- 8:00 p.m. EST
Dividends are rising at many of our largest public companies, but cash accumulation is rising even faster.
“After solid job gains early in the year, progress has slowed to a trickle ... meaningful job creation on Main Street has collapsed.
The Status Quo heavily rewards financialized profiteering and resource extraction while penalizing productive capital investments in manufacturing.
How is it that the world's fortunes hang on the life or death of a murderous thug that the US has been supporting for 30 years? And why, in fact, if Yemen's President Ali Abdullah Saleh is so important, isn't it common knowledge?