marketcrash
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national debt
04/07/2023
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By News Editors
Global bankruptcy already baked in
Scrape away the complexity and every economic crisis and crash boils down to the precarious asymmetry between collateral and the debt secured by that collateral collapsing. (Article by Charles Hugh Smith republished from DailyReckoning.com) It’s really that simple. In eras of easy credit, both creditworthy and marginal borrowers are suddenly able to borrow more. This flood of new […]
04/07/2023
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By Ethan Huff
Walmart cuts another 2,000 warehouse jobs following retail store closure announcement
Five of Walmart’s e-commerce warehouses are slated to lose another 2,000 jobs, the company announced this week. More than 1,000 people will be let go from a warehouse in Fort Worth, Tex., as will 600 people at a Pennsylvania fulfillment center; 40 people at a Florida warehouse; and 200 people in New Jersey, regulatory filings […]
04/05/2023
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By Cassie B.
Social security expected to run out of money by 2033, a year earlier than previous predictions
The Social Security trust funds that pay for the benefits of 67 million Americans are now expected to run out in 2033, a year earlier than previous projections. This is according to the yearly trustees’ report released last week by the Treasury Department. The impending insolvency is largely due to a 3 percent downward revision […]
03/30/2023
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By Arsenio Toledo
Just five of Chicago’s largest public pension systems owe more pension debt than the sum of 44 states
The public pension funds of the City of Chicago owe so much debt that they rival the debt held by 44 states. This is according to the Illinois Policy Institute, a libertarian public policy think tank, which found that the city has $48 billion pension debt. The massive size of Chicago’s pension fund underscores how difficult […]
03/27/2023
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By JD Heyes
Analysis claims that covering all lost deposits in failed banks will only hasten dollar collapse
A new analysis published this week takes a different look at government bank deposit insurance that goes beyond covering the $250,000 limit imposed by the Federal Deposit Insurance Corporation, or FDIC, that will involve tens of billions of taxpayer dollars. Tyler Durden at Zero Hedge noted on Thursday: “As Simon White writes today, ‘a full guarantee of […]
03/15/2023
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By News Editors
The Federal Reserve just made an emergency decision which will fundamentally change banking in America forever
Did you think that the Federal Reserve was just going to stand by and watch the U.S. banking system completely collapse? In response to the stunning failures of Silicon Valley Bank and Signature Bank, the Federal Reserve announced a rescue plan on Sunday evening that is going to radically change banking in America forever. All deposits […]
03/13/2023
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By Mike Adams
The Non-Bailout BAILOUT commences – total system collapse temporarily averted with emergency liquidity flood
Three US banks collapsed last week (Silvergate, Silicon Valley Bank and Signature). Contagion took hold and quickly began to spread to other banks. The entire US banking system would have collapsed starting today if not for the FDIC jumping in and offering to rescue even non-insured depositors at SVB. Normally the FDIC covers only $250K […]
03/07/2023
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By Belle Carter
Dr. Doom warns: Perfect storm of recession, debt crisis and inflation to hit markets
Renowned economist Nouriel “Dr. Doom” Roubini warned the public that a “perfect storm” of recession, debt crisis and out-of-control inflation could hit the markets this year. Roubini has been warning of a stagflationary debt crisis for months already. The looming economic collapse will combine the worst aspects of ’70s-style stagflation and the ’08 debt crisis. “I do believe […]
02/21/2023
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By Arsenio Toledo
US could default on its debt by July if deal on raising the debt ceiling is not reached
The Congressional Budget Office (CBO) has warned that the United States could default on its national debt if Congress and the White House are unable to agree on raising the debt ceiling. The current debt ceiling is $31.4 trillion. The U.S. is expected to reach this limit sometime between July and September, according to the […]
02/21/2023
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By News Editors
As the economy implodes, credit card balances are increasing at the fastest pace in U.S. history
When the going gets tough, it can be extremely tempting to pile on debt as a solution. The cost of living is rising much faster than most of our paychecks are, and this is putting an enormous amount of financial stress on hard working Americans. But rather than cutting back on spending, a lot of […]
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