A country's Gross Domestic Product (GDP) is a general gauge of its economic health. Let's take a look at the $100 trillion global economy, all in one chart.
Holders of dollars will see their purchasing power plummet, which is not a good thing for ordinary Americans if the US loses reserve currency status, and the fault will lie with the decades of monetary and fiscal...
Brazil's president, Luiz Inácio Lula da Silva, asked, "Why can't we trade in our own currencies?"
Brazil's President Luiz Inácio Lula da Silva at a climate finance summit in Paris | @LulaOfficial Photograph:(Twitter)
According to the Department of the Treasury, the current US national debt is $31.4 trillion, which is visualized below.
This is the argument for more money printing, and perhaps unlimited money printing, recently advanced by Professor Mariana Mazzucato on prime-time BBC.
The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.
House Speaker Nancy Pelosi wondered aloud how Republicans could vote against Mother Earth. West Virginia Senator Joe Manchin possibly wondered how Republicans could vote against his so-called "Inflation Reduction Act (IRA)." In reality, Pelosi was closer to describing the contents of the IRA than was Manchin.
It would seem that India along with other Asian countries like Vietnam has benefited from manufacturers moving out of China. China's productive capacity is starting to slip away when compared to India.
Major US banks have reported mixed results for the fourth quarter, as bank executives pointed to the rising odds of a "mild recession," with inflation and interest rate hikes challenging households and businesses. It seems like big US banks are preparing for a mild recession.
Confidence in America is collapsing, and many leftist zealots are expressing complete shock over the United States' perceived decline.
Despite the cheering from the Washington Post, CNN, NY Times,...
