Keyword: debt

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  • California will launch 'its own damn satellite' as a swipe at Trump, 'Governor Moonbeam' says

    09/15/2018 4:36:14 PM PDT · by familyop · 58 replies
    Fox News ^ | 15SEP18 | Lukas Mikelionis
    "We're going to launch our own satellite — our own damn satellite to figure out where the pollution is and how we’re going to end it," Brown told the audience at the Global Climate Action Summit in San Francisco..."In California, with science under attack, in fact we’re under attack by a lot of people, including Donald Trump, but the climate threat still keeps growing," Brown added. "So, we want to know, what the hell is going on all over the world, all the time?"..."If Trump turns off the satellites, California will launch its own damn satellite," Brown said back in...
  • Global Debt Soars to $169 Trillion: Will We Ever Learn?

    09/12/2018 9:05:07 AM PDT · by SeekAndFind · 26 replies
    American Thinker ^ | 09/12/2018 | By John Horvat II
    Ten years have passed since the 2008 subprime mortgage crisis, the worst financial panic since the Great Depression.  Now it seems that some of the lessons learned back then are being forgotten.  Growing debt burdens in emerging markets are igniting new fears of a crisis that could shake economies everywhere. This time, the debt is not mortgages or deficit spending.  The new crisis involves corporate debt and bonds. What is setting off alarms is the recent collapse of the Turkish lira, which has lost more than forty percent of its value.  Turkish banks and companies borrowed heavily over the past few years to finance infrastructure...
  • The economy may be booming, but nearly half of Americans can't make ends meet

    09/02/2018 9:33:46 AM PDT · by SeekAndFind · 69 replies
    Los Angeles Times ^ | 09/01/2018 | David Lazarus
    By virtually any yardstick, the U.S. economy is doing great. Unemployment is near a two-decade low. The stock market is strong. Corporate profits are at record highs. Yet a report out this week finds that almost half of Americans are having trouble paying for basic needs such as food and housing. The Urban Institute, a left-leaning Washington think tank, surveyed more than 7,500 adults about their experience making ends meet. It found that about 40% of people ages 18 to 64 faced some sort of hardship last year. “It’s certainly surprising and disconcerting that so many people are having difficulty...
  • I'm 28, Have $100K In Student Loan Debt, & I Can't Find A Full-Time Job

    08/30/2018 9:12:49 AM PDT · by 11th_VA · 280 replies
    Yahoo Finance News ^ | August 29, 2018 | Ludmila Leiva
    For Alexandria Butler-McDow, 28, going to university didn’t provide the freedom and financial security she'd hoped for. After graduating with an associate’s degree from the California Culinary Academy (CCA) in San Francisco, CA, in 2008, Butler-McDow struggled to find a job that would allow her to support herself and her disabled mother while also paying off her enormous student loan bill. Hopeful that a more advanced degree would help her make more money and better manage her debt, Butler-McDow went on to pursue a bachelor’s degree in culinary nutrition, concentrating on clinical dietetics at Johnson and Wales University (JWU) in...
  • Nation’s top student loan official resigns [in protest of Trump]

    08/27/2018 10:37:21 AM PDT · by Red Badger · 48 replies
    AP ^ | 08/27/2018 | Staff
    NEW YORK (AP) — The government’s top official overseeing the $1.5 trillion student loan market resigned in protest on Monday, citing what he says is the White House’s open hostility toward protecting the nation’s millions of student loan borrowers. Seth Frotman will be stepping down as student loan ombudsman at the end of the week, according to his resignation letter, which was obtained by The Associated Press. He held that position since 2016, but has been with Consumer Financial Protection Bureau since its inception in 2011. Frotman is the latest high-level departure from the CFPB since Mick Mulvaney, President Donald...
  • China has a bigger problem than the trade war — a 'mountain of debt'

    08/25/2018 5:15:05 PM PDT · by SeekAndFind · 17 replies
    ABC News Australia ^ | 08/25/2018 | By Monique Ross and Amruta Slee
    It's been a few weeks since Donald Trump fired the opening salvo in a trade war with China, slapping tariffs on a range of Chinese-made goods. Beijing retaliated with tariffs of its own — and since then, the rhetoric on both sides has been unrepentant. Much of the focus has been on nervous financial markets, and how the war could affect the fortunes of US farmers and manufacturers — but how do things look from China's side? Is the trade war the biggest threat to China's economy, or does the country have more pressing problems — like its massive debt?...
  • Pension Tick-Tock: State systems’ liabilities continue to increase, even in a booming economy.

    08/16/2018 8:44:24 AM PDT · by SeekAndFind · 17 replies
    City Journal ^ | 08/16/2018 | Steve Malanga
    When financial markets cratered in late 2007, state pension officials assured lawmakers and the public that the damage to government retirement funds was only temporary. Pension funds are long-term investors, their story went, and pension systems would recover as soon as the market did. When lawmakers in Montana, for instance, asked the state treasurer whether they should be worried about the government’s ability to meet its retirement obligations, he confidently advised them to “go fishing” instead. They should have ignored him and taken action to bolster the state’s pension system, which has never recovered from the market crash. Montana’s retirement...
  • Chicago’s Fiscal Storm: With bonds already rated junk, the city considers borrowing billions

    08/13/2018 7:38:43 AM PDT · by SeekAndFind · 44 replies
    City Journal ^ | 08/13/2018 | Steve Malanga
    When Chicago issued half a billion dollars in new bonds late last year, some investors balked, though the offering was designed to protect them by guaranteeing that they would be paid with tax revenues that Illinois sends to its biggest city. “It’s an untested model,” the research head at Gurtin, a municipal bond firm, said of the offering—Chicago’s first under a new state law. Ominously, he worried that if Chicago defaults, it was unclear how much protection holders of the new debt would really get. Even as Chicago grapples with nightmarish violent crime, the city faces imposing fiscal challenges. The...
  • Democrat and Republican voters agree that America faces a student-debt crisis

    08/12/2018 4:55:02 PM PDT · by SeekAndFind · 52 replies
    MarketWatch ^ | 08/11/2018 | Jillian Berman
    Whether the nation’s $1.5 trillion student-debt problem represents a crisis is a matter of debate among policy makers and experts. But ask regular voters what they think and the answer seems pretty clear. More than half of Republicans, 67% of Independents and 71% of Democrats agree that student debt is a crisis, according to a recent poll of 1,000 voters conducted by Lake Research Partners and Chesapeake Beach Consulting on behalf of Americans for Financial Reform and the Center for Responsible Lending, two consumer advocacy organizations. “It’s pretty clear that regardless of political orientation, people see it not just as...
  • Borrowing billions to lower Chicago's pension debt? Emanuel's finance team is considering it

    08/04/2018 10:01:48 AM PDT · by Libloather · 75 replies
    Chicago Tribune ^ | 8/03/18 | Hal Dardick
    Mayor Rahm Emanuel’s financial team is considering borrowing billions of dollars to pour into Chicago’s ailing pension funds — a move they contend could save future taxpayers hundreds of millions of dollars but experts say comes with risk. The idea is to issue bonds at relatively low interest rates and use the money to reduce the city’s $28 billion in pension debt. The pension funds would invest the bond proceeds and ideally earn returns that outpace the interest the city would have to pay on the bond debt. Issuing so-called pension obligation bonds would be a first for Chicago, which...
  • Drowning In Debt: These States Are Approaching A Point Of No Return (FLEE!)

    08/02/2018 7:51:54 AM PDT · by SeekAndFind · 57 replies
    Townhall ^ | 08/02/2018 | Matt Vespa
    Having grown up in New Jersey, you understand that Democrats are a tax and spend party and even liberals in the state understand it. The Garden State is a case study in mass exodus; it’s just too expensive to live there anymore. Are there signs that the Democrats get it? Maybe—the heavily Democratic legislature in Trenton had to tell Governor Phil Murphy that his tax increase agenda was more or less not going to happen. Taxes still went up, but it was not the insane proposal the governor’s office had pushed. Still, I doubt Demorats in these states will find...
  • Millennials Are More Interested in Their Credit Scores Than Any Generation

    07/31/2018 3:20:24 PM PDT · by Simon Green · 36 replies
    The Points Guy ^ | 07/31/18 | Alyssa Cerciai
    Believe it or not, a recent study conducted by Research Now on behalf of Discover shows that young people are more in touch with their credit score than any other generation in the United States. While more than half of the population of consumers in the US — 61%, to be exact — reported that they are actively trying to improve their credit score, that percentage is concentrated in the younger generations. The highest concentration of those taking steps toward improving their credit score lies in the subset of Gen Z go-getters between the ages of 18 and 21, 87%...
  • Mnuchin to Wield Power Over Yield Curve With Fresh Supply Boost

    07/30/2018 10:10:30 AM PDT · by Hostage · 7 replies
    Newsmax Finance ^ | Monday July 30, 2018 | Via Bloomberg News
    As Treasury Secretary Steven Mnuchin prepares to unveil plans to finance the surging U.S. budget deficit, his choices are seen as key to the fate of the yield curve, which is drawing scrutiny because of its march toward inversion. The nation’s debt managers are set to release a funding program for the next three months on Aug. 1, and bond dealers say it’s a given that coupon-bearing issuance will rise for the third straight quarter. Some project Treasury will extend the sector it leans on to finance budget shortfalls out to the five-year maturity. Either way, the announcement could add...
  • Stacey Abrams: I'm running for governor and am $200,000 in debt

    07/26/2018 8:34:23 AM PDT · by Trump20162020 · 51 replies
    Yahoo Finance ^ | July 26, 2018 | Turner Cowles
    Stacey Abrams is running for governor in Georgia. She would be the first black woman to be elected governor of a state in American history if she were to win the election. But she faces some major roadblocks. The office of governor was staunchly Democratic in Georgia until Sonny Perdue was elected in 2002. He was reelected in 2006 and was succeeded by another Republican, Gov. Nathan Deal, in 2010. Abrams wrote an op-ed for Fortune in April, in which she argued her personal debt shouldn’t disqualify her from running for governor. She owes more than $227,000 in credit card...
  • Trump announces emergency aid for farmers hurt by trade war, says they'll win in the end

    07/24/2018 4:51:13 PM PDT · by E. Pluribus Unum · 57 replies
    Fox News ^ | 7/24/2018 | Andrew O'Reilly
    The Trump administration announced Tuesday that it will grant up to $12 billion in emergency aid to farmers hurt by retaliatory tariffs in the ongoing trade fight with China and other American trading partners. Secretary of Agriculture Sonny Perdue said that the plan, which will provide direct assistance and other temporary relief for farmers through the USDA’s commodity program, is meant as a stopgap to give Trump time to negotiate a long-term policy with China, the European Union and others. The plan was announced as Trump spoke at the Veterans of Foreign Wars national convention in Kansas City, where he...
  • Sen. Ron Johnson (R-Wis.) tells [media]... Trump..."is becoming...like a Soviet-type of economy..."

    07/24/2018 12:15:01 PM PDT · by SoFloFreeper · 86 replies
    Twitter ^ | 7/24/18 | Alex Bolton, "journalist" for The sHill
    Sen. Ron Johnson (R-Wis.) tells @burgessev and me outside GOP lunch that $12 billion in trade assistance to farmers from Trump administration "this is becoming more and more like a Soviet-type of economy here" with "commissars" sprinkling around benefits.
  • Dust Bowl Economics: Trump wants taxpayers to bail out farmers hurt by his trade war.

    07/12/2018 4:59:13 AM PDT · by reaganaut1 · 155 replies
    Wall Street Journal ^ | July 11, 2018
    When pork prices collapsed amid a global trade war during the Great Depression, the Roosevelt Administration in 1933 had an idea—slaughter six million piglets. Put a floor under prices by destroying supply. It didn’t work. Now the Trump Administration may try its own version of Depressionomics by using the Commodity Credit Corporation (CCC) to support crop prices walloped by the Trump tariffs: Hurt farmers and then put them on the government dole. How about not hurting them in the first place? That’s the question as Mr. Trump escalates his trade war, on Wednesday proposing 10% tariffs on $200 billion in...
  • Trump tapping $12B to help farmers affected by tariffs

    07/24/2018 12:01:08 PM PDT · by Freedom'sWorthIt · 82 replies
    wral.com ^ | July 24, 2018 | KEN THOMAS and PAUL WISEMANl, AP
    WASHINGTON — The government announced a $12 billion plan Tuesday to assist farmers who have been hurt by President Donald Trump's trade disputes with China and other trading partners. The plan focuses on Midwest soybean producers and others targeted by retaliatory measures. The Agriculture Department said the proposal would include direct assistance for farmers, purchases of excess crops and trade promotion activities aimed at building new export markets. Officials said the plan would not require congressional approval and would come through the Commodity Credit Corporation, a wing of the department that addresses agricultural prices. "This is a short-term solution that...
  • White House readies plan for $12 billion in emergency aid to farmers [shortened]

    07/24/2018 9:04:11 AM PDT · by GIdget2004 · 67 replies
    Washington Post ^ | 07/24/2018 | Damian Paletta and Caitlin Dewey
    The U.S. Agriculture Department on Tuesday plans to announce a $12 billion package of emergency aid for farmers caught in the midst of President Trump’s escalating trade war, two people briefed on the plan said, the latest sign that growing tensions between the United States and other countries will not end soon. Trump ordered Agriculture Secretary Sonny Perdue to prepare a range of options several months ago, amid complaints from farmers that their products faced retaliatory tariffs from China and other countries. The new package of government assistance funds will be announced Tuesday and is expected to go into effect...
  • Amazon now lets you finance gaming PCs and PC parts at zero interest

    07/23/2018 10:55:22 PM PDT · by Berlin_Freeper · 15 replies
    destructoid.com ^ | July 23, 2018 | Brett Makedonski
    Amazon has introduced a new program that makes it a little more easier to buy gaming PCs and PC components. While the price is technically the same, the burden is spread out across several months at no penalty to the buyer. Amazon now has a monthly payment system for big ticket items that shifts payments across five months instead of all at once. For instance, there's now the option to purchase a $2,000 PC with five monthly payments of $400 rather than forking over two grand at the time of sale. The applicable categories for this new program are: Laptops,...