Helping You Survive and Prosper in the Greater Depression
In another case of de-dollarization, Bangladesh settled a loan from Russia in Chinese yuan. According to a new report from the Bloomberg, the Bangladesh government paid a $318 million Russian loan in Chinese yuan to avoid U.S. … [Continue reading] about De-Dollarization: Bangladesh settles payment to Russia in Chinese yuan
Huh? So, President Joe Biden is poised to implement a crazy new federal rule that punishes responsible borrowers and rewards irresponsible or risky ones. As part of the Federal Housing Finance Agency's (FHFA) affordable housing plan, the … [Continue reading] about Joe Biden proposes rule to punish homebuyers with good credit, down payments to support buyers with bad credit
The Federal Reserve's balance sheet fell below $8.6 trillion for the first time since the beginning of the banking turmoil caused by the failures of Silicon Valley Bank and Signature Bank. The balance sheet came in at $8.593 trillion for the week … [Continue reading] about Federal Reserve balance sheet shrinks below $8.6 trillion for first time since banking turmoil
The U.S. manufacturing recession deepens. The Federal Reserve Bank of Philadelphia's Manufacturing Index crashed to 31.3 in April, the worst reading since May 2020. It also represented the eighth consecutive monthly contraction, with negative … [Continue reading] about U.S. manufacturing recession deepens as Philadelphia Fed Index crashes in April
The Republicans keep capitulating. They are not the party of fiscal responsibility at all. They are weak. Case in point, House Speaker Kevin McCarthy (R-CA) and his fellow House GOP members will lift the debt ceiling by $1.5 trillion or until … [Continue reading] about Report: Republicans propose lifting the debt ceiling by $1.5 trillion or until March 31