The Financial Times (FT) reported on Friday that China’s currency, the renminbi, had its biggest rally in 15 years, driven by increased foreign demand and “rising expectations that a Joe Biden victory in next month’s U.S. presidential election could help reset relations between the two superpowers.”
The U.S. government’s debt owed to the public will exceed GDP for the first time since World War II.
LONDON (AP) — Britain’s government debt has breached the 2 trillion-pound ($2.6 trillion) mark for the first time after heavy borrowing to support the economy during the coronavirus pandemic.
The UK economy is heading for the ‘recession to end all recessions’ with GDP predicted to plunge by nearly one third this quarter.
Tanzanian President John Magufuli on Wednesday called for international lenders, particularly the World Bank, to forgive existing African loans instead of offering new loans to help rebuild the continent’s economies after the Wuhan virus pandemic.
Families in the Cincinnati, Ohio, area are breathing a huge sigh of relief thanks to a church’s recent partnership with a nonprofit based in New York.
An eight-year-old boy went the extra mile to help out his classmates by selling key chains to raise money to erase their school lunch debt.
Lebanese security forces detained at least a hundred demonstrators on Thursday as Lebanon’s long-running but mostly peaceful anti-government protests turned violent for the second night in a row. Dozens of people were reportedly injured in clashes with the police.
A kindergartner in San Diego County, California, is being recognized for her act of kindness toward her fellow students.
A church in Virginia recently helped pay off $18,000 worth of its neighbor’s school lunch debt in Stafford and Spotsylvania Counties.
A church and a non-profit group have teamed up to pay off a large amount of their community’s medical debts.
A Florida man paid off the school lunch debt for more than 400 children at nine different schools after learning that students were not being served a full meal in their school cafeterias.
Sen. Bernie Sanders (I-VT) revealed another piece of his plan to overhaul the health care system in America on Saturday, teasing his proposal to cancel $81 billion in past medical debt.
Grand Rapids First of Wyoming, Michigan, announced on Sunday that it will pay off the medical debt of 1,899 families.
Rep. Alexandria Ocasio-Cortez (D-NY) is on board with Sen. Bernie Sanders’ (I-VT) proposal to erase all student loan debt, because she has not paid off her student loans either, she said Monday.
BRUSSELS (AP) — European Union finance ministers say Italy’s high debt contravenes EU rules and that the country should face penalties for failing to comply.
Taking mom out to eat on Mother’s Day is a well-established tradition in the United States. Now an analysis of Bank of America data about debit card users shows that Generation X will be spending the most taking her out for a meal next weekend.
R&B singer R. Kelly has been arrested in Chicago again, this time for reportedly owing $161,000 in unpaid child support.
At the end of 2018, young Americans age 19 to 29 faced $1 trillion in debt, mostly for student loans, according to the Federal Reserve.
Stocks may well rebound in the new year. But for now, Jerome Powell has put a giant lump of coal in America’s Christmas stocking.
The Democrats’ “blue wave” left them in the red financially, leaving them $18 million in debt after they won the House of Representatives.
The latest data suggests that the Trump economic expansion is still running strong.
China’s state-run Global Times did not enjoy Secretary of State Mike Pompeo’s speech to the Indo-Pacific Business Forum on Monday. A Tuesday editorial by the communist paper responded by accusing the United States of playing “power games” in the Indo-Pacific region.
Thirty-year-old millennials’ fortunes, sex lives, and income are all pitiful compared to what their fathers enjoyed at age 30, according to Axios.
The Wall Street Journal reported on Sunday that Pakistan is facing a debt crisis due to the enormous loans it has taken out for the Orange Line, an elevated railway in Lahore that is only the first installment in China’s $62 billion plan to bring its “Belt and Road” infrastructure initiative to Pakistan.
The government of Kenya advised its citizens on Wednesday to “appreciate” the work of Chinese companies and learn from their experts after documented allegations of abuse perpetrated against Kenyan workers by Chinese employers.
The left-leaning press revealed its next angle of attack on Supreme Court nominee Judge Brett Kavanaugh Wednesday with a Washington Post deep dive into his finances. The paydirt: In 2016, he had between $60,000 and $200,000 of debt, then he paid it off in 2017.
House Minority Leader Nancy Pelosi (D-CA) said Thursday that Democrats would raise taxes if they win the 2018 midterm elections.
The Federal Reserve said consumer credit in March great at a seasonally adjusted annualized rate of 3.6 percent, or $11.6 billion. Economists had expected $15.2 billion.
Director of National Intelligence Dan Coats warned the Senate Intelligence Committee on Tuesday about the risk posed by the national debt.
Democrats are “winning the narrative” and “winning their priorities” in Capitol Hill spending deals despite congressional GOP majorities and a Republican president, said Tom Van Flein, current chief of staff for Rep. Paul Gosar (R-AZ), on Friday’s edition of SiriusXM’s Breitbart News Tonight with host Rebecca Mansour.
Joe Ciolli writes at Business Insider that a new report claims worldwide debt climbed to a new record in 2017.
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.
According to research from the Center for Economics and Business Research in London, China will overtake the United States as the world’s largest economy by 2032.
How can the Tea Party movement, which campaigned on balancing the budget and paying down the debt, tolerate a massive tax cut that is only going to be followed by demands for more federal spending?
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.
Almost half of Germans what to see the Deutsche Mark restored, with just 41 per cent saying they want to keep the euro.
TEHRAN, Iran (AP) — Iran and Britain are discussing the possible release of some 400 million pounds held by London since the 1979 Islamic Revolution, an Iranian official acknowledged Thursday.
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.
Standard & Poors lowered its view of China’s creditworthiness, less than a month ahead of the country’s most important and sensitive political gatherings.
