Tag: debt

An employee puts Chinese one-hundred yuan banknotes in a money counting machine for a photograph at the Korea Exchange Bank headquarters in Seoul, South Korea, on Thursday, Feb. 27, 2014. Chinas central bank is forecast to double the yuans trading band in the coming quarter as policy makers loosen exchange-rate …

For China, Debt Disaster Lurks in the Shadows

Analysts with the proper degree of skepticism about China’s boasts of soaring economic power note that official reports from the Communist regime cannot be trusted. Another, less widely understood problem is that China’s rulers might not know how unstable their economy really is because a sizable portion of Chinese debt lurks off the books in the “shadow banking” industry.

AP Photo

China Uses Website to Name, Shame, and Punish Debtors

Economists around the world worry about the accumulation of excessive personal debt. China’s approach to the problem is as ham-fisted as everything else the authoritarian nation does: they set up a website to name, shame, and punish “dishonest people” with debt repayment judgments against them.

Venezuelan President Nicolas Maduro smiles while giving a speech during the Bolivarian Alliance for the Peoples of Our America (ALBA) summit at the Miraflores presidential palace in Caracas on March 5, 2017. The extraordinary summit is paying homage to late Venezuelan leader Hugo Chavez, on the fourth anniversary of his …

Venezuela Could Soon Default on Its Debt

The socialist country of Venezuela is likely to default on its debt in the coming days as two critical debt repayments rapidly approach their deadlines.

Paul Ryan, Mitch McConnell

Darling: Attach Cut, Cap, and Balance to Debt Limit Hike

Treasury Secretary Steven Mnuchin argued on Fox News Sunday for a “clean” hike in the debt limit. Mnuchin also pushed a strategy of attaching the debt limit as an amendment to a bill to provide $7.9 billion in temporary relief to victims of Hurricane Harvey.

Puerto Rico bailout (Kathy Willens / Associated Press)

Puerto Rico to File Largest Public Sector Bankruptcy in History

Puerto Rico is set to file the largest public sector bankruptcy in history after vulture capitalist hedge funds that bought big pieces of the island’s $73 billion in defaulted debt for pennies-on the-dollar refused to take $24 billion haircut.

CalPERS (Reuters / Max Whittaker)

CalPERS Reality Will End Left’s #CalExit Fantasy

As the #CalExit movement continues to draw favorable press — mostly in liberal publications bitter over Trump’s victory — its downfall just might be found in the fiscal realities facing CalPERS, the agency responsible for managing pensions and benefits for over 2 million California state employees.

Speaker of the House Paul Ryan (R-WI) answers questions during a press conference at the U.S. Capitol June 23, 2016 in Washington, DC. Ryan addressed the continuing sit-in on the floor of the House of Representatives by members of the House Democratic caucus during his remarks. (Photo by

Paul Ryan’s Legislation Could Ensure Trump’s Success

Speaker of the House Paul Ryan has promised conservatives for years that he would be able to deliver on his promises to fix the entitlement system, reform the tax code, pay off the national debt and repeal Obamacare once a Republican was president.

LAX (Mark Ralston / AFP / Getty)

Los Angeles Mayor Tries to Defend LAX from Donald Trump

Los Angeles Mayor Eric Garcetti is defending Los Angeles International Airport, or LAX, from criticisms by Republican presidential nominee Donald Trump during Monday night’s first presidential debate.

Gage Skidmore/Flickr

Glenn Beck Sues Former TheBlaze CEO in Texas Court

Glenn Beck filed a lawsuit in a Texas court against former TheBlaze CEO and Mercury Radio Arts COO Christopher Balfe over allegations of contract breach, fraud, unjust enrichment and other matters Monday.

The National Debt Clock, a billboard-size digital display showing the increasing US debt, is seen on the corner of Sixth Avenue and West 44th Street on August 1, 2011 in New York City.

Analysis: Long-Term Debt Crisis Is Even Worse Than CBO’s Dire Predictions

The Freedom Partners Institute, a right-leaning nonprofit organization, argues the CBO’s projections “fail to take the complete economic forecast into account” by not including intra-governmental debt, that is, money owed to trust funds like Social Security and Medicare.

In this handout provided by the National Aeronautics and Space Administration (NASA), a second full moon for the month of July rises behind the dome of the U.S. Capitol on July 31, 2015 in Washington, DC. In recent years, people have been using the name Blue Moon for the second …

Stanford: Public Pension Debt Jumps 84%, to $4.8 trillion

The latest report from the Stanford Institute for Economic Policy Research has revealed that the public pension debt for the 50 states and the District of Columbia jumped 84 percent in recent years, from $2.625 trillion in 2008 to $4.833 trillion in 2014.

A nun walks in front of a closed furniture store in Lares, Puerto Rico, on September 2, 2015.

Bankruptcy Contagion: Today, Puerto Rico… Tomorrow, Illinois

The financial situation in Puerto Rico is at the crisis point, leading to proposals for a massive bailout that would ostensibly stabilize the island’s economy and protect small investors… but would, in fact, be a tremendous giveaway to Wall Street interests.

U.S. Rep. Mo Brooks (R-AL) on his way to the House Chamber for a procedural vote on the House floor September 28, 2013 on Capitol Hill in Washington, DC. The House will vote later today on two amendments to the Senate-passed continuing resolution that will keep the government running.

Rep. Mo Brooks: Congress Must Use ‘Power of the Purse’ To Block Obama’s Refugee Plan

“It will be very difficult for me to vote for any funding bill that risks American lives by improving the chances of successful terrorist attacks on American cities,” Mo Brooks said in an interview with Breitbart News Tuesday. “And so if that’s the funding bill Barack Obama and the House and Senate leadership want me to support they’re going to need to look elsewhere for votes.”