Search Results for: dump debt

Goldman Sachs may face trial for role in Greek debt crisis

Goldman Sachs bank

Goldman Sachs faces the prospect of potential legal action from Greece over the complex financial deals in 2001 that many blame for its subsequent debt crisis. A leading adviser to debt-riven countries has offered to help Athens recover some of the vast profits made by the investment bank. The Independent has …

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A ‘tsunami’ is about to hit the debt market

Tsunami city debt market bonds

A tidal wave may be coming to the bond market, and it’s not going to be pretty. At least that’s the view of Matthew Mish, credit strategist at UBS. To Mish, the elevated rates of default in the commodity sector and high risk bonds are a harbinger of things to come for …

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Washington just dipped into retirement savings to fund itself

Jack Lew Treasury Secretary

From Filip Karinja You know things are getting bad when your government begins to stick its hand into retirement accounts just so that it can remain solvent for a few more months. With the debt limit about to come back into full swing at a staggering $18.1 trillion this week, Treasury Secretary Jack …

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On this day in 2016

For a presidential election taking place when the US debt/GDP has for the first time in 70 years crossed above 100%, in which over 50 million Americans collect food stamps and disability, in which M2 just crossed $10 trillion, in which total US debt is about to pass $16 trillion, …

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Unsustainable

Pig drowning

When it comes to explaining the problems with our economy, one of the hardest things to do is to get people to understand that we are living in an economic fantasy world that is completely and totally unsustainable.  As a nation we consume far more than we produce, we spend …

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$16,015,769,788,215.80

$5.4 trillion added under Obama. The United States Treasury reports that the total public outstanding debt is: $16,015,769,788,215.80. This is the first time in American history debt has eclipsed the $16 trillion mark. The debt has increased approximately $5.4 trillion since President Obama took office on January 20, 2009. Here’s a chart, from the …

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What is so Bad About Debt?

Debt is one of the most loathed 4-letter words in the world. It is the one word that has real bite to it, unlike others which can be brushed off without too much concern. When dealing with debt, and learning to avoid debt in the future, it’s important to follow …

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Worldwide debt default is the only solution

Sovereign nations, state governments, Californian cities, small businesses, homeowners, middle-class families, recent graduates and all types of other individuals and entities around the world are facing the same growing problem… DEBT. While the European Union is in the spotlight at the moment, the debt crisis is arguably worse in the United …

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Economic collapse is inevitable, here’s why…

recession

America is quickly approaching a catastrophic economic collapse. Before you dismiss this as hype or paranoia, take a few minutes to review the facts outlined on this page. The numbers don’t lie. At this point, the dollar crash is unavoidable… far from an exaggeration this is a mathematical certainty. As …

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French farmers torch tax office and dump vegetables out front

French-farmers-tax-office

Farmers dumped piles of vegetables around the town of Morlaix in western France on Friday night before torching public buildings in a dramatic act of frustration at falling revenues. Around 100 farmers hauled artichokes, potatoes and broccoli to Morlaix by tractor, unloaded them onto the streets and set them ablaze, Reuters reports. According …

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Our collapsing economy and currency

USD money

Is the “fiscal cliff” real or just another hoax? The answer is that the fiscal cliff is real, but it is a result, not a cause. The hoax is the way the fiscal cliff is being used. The fiscal cliff is the result of the inability to close the federal …

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Australian banks at risk

big four banks Australia

Despite yesterday’s blowout $6 billion or so profit from ANZ, it turns out all is not entirely well in Australia’s financial services industry. For the last five years, the pattern in the markets has been the same. A crisis starts at the margin, with a peripheral player, and then moves …

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Iran to dump US dollar in oil trade, settle in euro instead

US dollar dumped oil trade

Iran wants post-sanctions’ oil contracts denominated in dollars and have buyers pay in euros, Reuters reported. Tehran is also keen to receive money owed to it since the pre-sanctions days in the European currency. The country’s crude deliveries are to be restored soon, with companies such as the French giant …

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Why should a limited company consider debt resolution?

debt resolution

If you are like most business owners, the chances are your may have accrued some company debt over the years. It’s more than easy to get behind on VAT installments, PAYE, or corporation tax to HMRC. It usually takes a few years for this arrears to catch up, but when …

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10 dire consequences of Obama’s re-election victory

obama

What does an Obama re-election mean for the next four years in America? Now that he’s in his second and last term, of course, Obama no longer needs to restrain his actions according to popularity. He can simply unleash any desirable executive order and rule by decree, bypassing Congress as he has frequently …

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Russia is dumping US dollars and hoarding gold

Russia gold hoarding US dollar

Vladimir Putin’s quest to break Russia’s reliance on the U.S. dollar has set off a literal gold rush. Within the span of a decade, the country quadrupled its bullion reserves, and 2018 marked the most ambitious year yet. And the pace is keeping up so far this year. Data from …

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