ECB President Lagarde Warns of ‘Major Disaster’ If US Defaults on Debt Obligations

There is a lot of discussion lately about the U.S. government’s debt ceiling and whether Congress will act before defaulting. In a recent interview, Christine Lagarde, the president of the European Central Bank (ECB), said she is confident the U.S. can maintain its debt obligations. However, she warned that if the U.S. were to default […]

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Casting Stones From a Glass House: Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy

Casting Stones From a Glass House: Yellen's Comments on Zambia's Debt Restructuring Draw Criticism From Chinese EmbassyThe Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very important that Zambia restructure its debt, but Zambia sees it differently. The embassy castigated Yellen’s comments in […]

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257 Economists Say Global Recession Is Near, US Trade Restrictions Against China Could Stir Taiwan Invasion

257 Economists Say Global Recession Is Near, US Trade Restrictions Against China Could Stir Taiwan InvasionAccording to 257 economists polled by Reuters, the global economy is approaching a recession, but 70% of the survey’s participants believe the chances of a sharp rise in unemployment levels will be low. The poll follows the Biden administration and the U.S. Commerce Department issuing a package of trade restrictions against China’s relationship with the […]

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Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony’

Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony'While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic ministry says that the economy’s gross domestic product (GDP) is estimated to drop by 4.2% this year and Russia’s inflation won’t be as elevated as […]

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Ron Paul Insists US Economy’s ‘Collapse Will Come,’ Former Congressman Says Liquidation Is ‘Absolutely Necessary’

Ron Paul Insists US Economy’s 'Collapse Will Come,' Former Congressman Says Liquidation Is 'Absolutely Necessary'Just recently the American author, economist, and retired politician Ron Paul discussed the rising tensions between China and Taiwan during an interview and he talked about the U.S. economy as well. Paul insists that the U.S. economy’s “collapse will come,” and he further stressed that “debt has to be liquidated.” ‘End the Fed’ Evangelist Ron […]

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230 Economists Warn the US Government’s Proposed Inflation Reduction Act Will Fuel Inflation

230 Economists Warn the US Government's Proposed Inflation Reduction Act Will Fuel InflationLast week, Democrats unveiled climate and health care legislation called the “Inflation Reduction Act,” and there’s a lot of debate over the name of the proposed public policy measures. After the legislation was revealed, 230 economists sent a letter to the country’s House and Senate leaders warning that the proposed policies will actually fuel inflation. […]

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Reports Say Beijing Attacking Taiwan Could Lead to ‘Far-Reaching Economic Consequences’

Reports Say Beijing Attacking Taiwan Could Lead to 'Far-Reaching Economic Consequences'While the global economy remains gloomy and the war in Ukraine continues, there’s been significant tension between China and Taiwan. The American representative from California, Nancy Pelosi, plans to visit Taiwan this week and White House officials say China is preparing to carry out “military provocations.” Moreover, during the last few weeks, reports note that […]

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10 Congress Members Ask Nancy Pelosi to Help Revise Crypto Provision in Infrastructure Bill

10 Congress Members Ask Nancy Pelosi to Help Revise Crypto Provision in Infrastructure BillTen members of the U.S. House of Representatives have called on House Speaker Nancy Pelosi to address the problem with the crypto provision in the infrastructure bill. They explained that the current definition of a broker in the bill “would increase uncertainty in the cryptocurrency industry, pick winners and losers … all while eroding our […]

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