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Global debt rose $10 trillion to a record $397 trillion in the first half of 2023, according to the Institute of International Finance (IIF). The big increase in debt occurred despite tightening credit conditions, and it is an increasingly worrisome problem because the “free lunch” of artificially low interest rates is over.
Joe Biden says the economy is great. Paul Krugman says the inflation war is over and we won. But Americans aren’t buying the narrative. They’re growing increasingly worried about the economy and inflation. The University of Michigan Index of Consumer Sentiment tanked in October with inflation worries at the highest level since last May.
I write a lot about the national debt. And most people don’t care. That’s because there’s a widespread belief that the dollar is invincible. It isn’t.
After a more than 3-year pause, government student loan repayments started again this month and it’s already putting the squeeze on borrower’s wallets. This is bad news for an economy already strained by massive levels of debt and rising interest rates. Interest accrual on student loans resumed on September 1 with the first payments coming […]
The Reserve Bank of Zimbabwe (RBZ) has launched a digital payment system backed by physical gold. The RBZ rolled out its digital gold-backed token in April after successfully implementing a program to produce physical gold coins in 2022. On Oct. 5, the central bank announced that these gold-backed digital tokens could be used as a […]
Twenty days. That’s how long it took the Biden administration to add another half-trillion dollars to the national debt. Bidenomics certainly requires a lot of borrowing and spending.
American consumers continued to pile up debt on credit cards while borrowing for big-ticket items fell into the basement in August. This is the behavior of extremely financially stressed people.
Central bank gold buying continues to sizzle. Central banks globally added a net 77 tons to their reserves in August, according to the latest data compiled by the World Gold Council.
You can hold physical gold and silver in an IRA, and there are certain advantages to doing so. Historically, IRAs with an allocation to precious metals perform better than IRAs with no exposure to silver or gold. There are also tax benefits when contributing to an IRA.
We keep hearing about a “soft landing.” According to government officials, central bankers, and mainstream financial media pundits, the US economy has dodged a recession. So why are recession warning signs still flashing?
