A general view of Pacific Western Bank in Huntington Beach, California, US, March 22, 2023. (Photo by Reuters) Trading has halted amid continued uncertainty among investors in the United States…
US Treasury Secretary Janet Yellen asked Congress to increase the government’s debt ceiling before June 1 to prevent economic bankruptcy. (Photo by AFP) United States Treasury has warned that the…
The government is attempting to allay fears of a growing crisis © AFP / Patrick T. Fallon / AFP US officials are making urgent efforts to rescue the struggling First Republic Bank,…
BY TYLER DURDENFRIDAY, APR 28, 2023 – 04:30 PM It’s late on a Friday afternoon, after a total collapse in First Republic (which likely saw massive deposit outflows today as…
First Republic says it plans to sell off assets, restructure its balance sheet, and lay off staff FILE PHOTO: First Republic Bank headquarters is seen on March 16, 2023 in…
© AFP 2023 / TIMOTHY A. CLARY Subscribe International India Africa James Tweedie All materialsWrite to the author Economist and professor Mark Frost said the debt ceiling bill now heading to the…
Economist Peter St Onge has warned that U.S. dollar weaponization will lead to “soaring inflation, a catastrophic fallen American standard of living, and a U.S. that falls off the world…
A chief strategist of the Wall Street bank has pointed to a big drop in lending amid tightening standards © Global Look Press / Michael Ho Wai Lee The collapse of Silicon…
America is a “failing nation” that is in decline, the former president has said Former United States President Donald Trump speaks at the 2023 NRA Leadership Forum in Indianapolis, Indiana,…
by Michael Our leaders were able to successfully kick the can down the road for a long time, but now many of our long-term problems are becoming short-term problems, and the…
by Michael If virtually everyone is expecting a recession, and most people start acting accordingly, do you think that will make an economic downturn less likely or more likely? Needless to…
by Michael Everyone can see the slow-motion train wreck that is unfolding right in front of our eyes, but nobody has a plan to stop it. Unfortunately, from a short-term perspective…
by Michael This is moving even faster than a lot of us thought that it would. For weeks, I have been warning my readers about the coming credit crunch. When banks get…
US commercial property will be the next domino to fall after the banking crisis, the Wall Street bank warns © Getty Images / NurPhoto / Contributor Morgan Stanley Wealth Management has predicted…
Robust recovery after the Covid-19 pandemic remains “elusive,” Kristalina Georgieva has said © Getty Images/Michael Hall The world economy is facing its weakest period of growth since the 1990s in the…
McDonald’s is laying off hundreds of employees in its corporate offices, cutting pay and benefits for others, and closing field offices as part of a companywide restructuring, according to a report.…
Many US restaurant chains have continued to shrink since the pandemicThose affected include: Burger King, IHOP, Ruby Tuesday, Denny’s and QuinzosSome have attempted to roll out electronic ordering systems to…
We can now actually see with visual metrics what it looks like when the Fed keeps pushing against a badly broken job market that keeps pushing back. Unlike previous situations…
by Michael When there is fear in the air, banks start getting really tight with their money, and right now there is lots of fear in the air. A major credit…
by Michael A trillion dollars is a lot of money. If you stacked a billion dollar bills on top of one another, the pile would be 67.9 miles high, but if…
by Michael If you are struggling to make it in this economy, you are not alone, because there are millions of other Americans in the exact same boat. Needless to say,…
Most of the country’s banks are technically near insolvency, famed economist Nouriel Roubini says © AFP / John Lamparski / Getty Images North America / Getty Images via AFP Renowned economist Nouriel…
© AP Photo / Steven Senne James Tweedie All materialsWrite to the author The aftershocks from the Silicon Valley Bank insolvency are still being felt across the US finance sector…
US dollars and Euro bills are pictured on September 6, 2022 in Brest, western France. (Photo by AFP) The United States is poised to enter a recession this year and face…
The former senior executive says the Fed must cut rates and guarantee deposits held by regional lenders © Getty Images / RUNSTUDIO The banking crisis could swallow another 50 regional lenders in…
Before you read the following quote from a Fed employee, you had better set your coffee, beer or wine down so you don’t spray all over the carpet or the…
FILE – An Amazon logo appears on a delivery van, Oct. 1, 2020, in Boston. Amazon is pausing construction of its second headquarters in Virginia following the biggest round of…