You Are The Collateral, Forty-Three Cents On The Dollar
The full-year estimates call for $2.63 trillion in individual income taxes and $399 billion from corporations.
Banking
China’s Economic Miracle Has Run Out Of Road
Logan Wright’s Broken China: How the Economic Miracle Shattered and What It Means for the World provides considerable, up-to-date evidence for the minority view.
The Tragic Path Of New Keynesianism
Milton Friedman popularized and developed the monetarist framework, arguing that the stagflation of the 70s was the result of expansionary monetary policy.
US Treasury Adviser Pushes Back Against IMF Warning On Rising Federal Debt
David Zervos, recently appointed counselor to Treasury Secretary Scott Bessent, told CNBC that the IMF had repeatedly misjudged economic developments,
September: Wage Growth Was Wiped Out By Inflation For The Sixth Month In A Row
As prices for food, energy, cars, and services have headed up in recent years, ordinary people have been squeezed.
Bank Of America Profit Drops 17% As Trading Revenue Disappoints
Net profit declined 17% to $6.93 billion, while earnings per share came in at 91 cents against analysts’ expectations of $1.10.
Bank Of America Faces More Than $1.2 Billion In Penalties Over Money-Laundering Violations
Treasury Secretary Scott Bessent warned that compliance failures expose the financial system to illicit-finance risks.
How Changes In The Money Supply Affected The Great Depression
According to Friedman, because of the collapse in the money supply, economic growth followed suit.
IMF Warns Of Financial Risks From Rising Debt And Circular AI Deals
The fund highlighted growing hedge fund exposure to US Treasuries, warning that leveraged positions could unwind simultaneously and disrupt markets
What Is Driving China’s Push To Consolidate Its Banking Sector
Rural and small commercial banks are considered the weakest part of the sector.
Why Did Eurozone Inflation Rise To 3.8% In September
The annual rate rose from 3.2% in August and surpassed the 3.6% forecast. It is also well above the European Central Bank’s 2% target
Rising Inflation And Debt Concerns Rattle Global Bond Markets
The latest pressure follows stronger-than-expected US economic growth and inflation readings that remain above the Federal Reserve’s target
Global Bond Rout Raises Borrowing Costs For Governments And Consumers
The U.S. 30-year Treasury yield climbed to 5.45% Thursday, its highest level since 2004.
What Does A 7% Mortgage Rate Mean For US Homebuyers
Higher borrowing costs are reducing homebuyers’ purchasing power.
New Report Raises Questions Over Fed’s Handling Of Silicon Valley Bank Risks
Consulting firm Starling Advisory Group conducted the review, which goes further than a 2023 internal assessment led by former Fed supervisory chief Michael Barr
Why the AI CEOs Really Want To Be Regulated
The engineer claimed that many people at top AI firms earnestly believe the technology could wipe out humanity by the end of the 2020s.