HONG KONG—A mansion belonging to embattled China Evergrande Group’s chairman in Hong Kong’s prestigious The Peak residential enclave has been seized by lender China Construction Bank (Asia), records from the Land Registry show. The bank appointed receivers to take over the 5,000 sq ft (465 sq m) mansion on Nov. 1, according to a filing….
Supreme Court’s Barrett Denies Emergency Filing to Block Biden Student Loan Plan
The U.S. Supreme Court on Friday denied an emergency court filing to block President Joe Biden’s student loan debt elimination plan, marking the second such time Justice Amy Coney Barrett has rejected a bid to block Biden’s plan. Barrett did not refer the case to the full Supreme Court, acting alone in refusing to take…
Federal Monthly Deficit Jumps 562 Percent as Biden’s Student Relief Costs Hit
The Treasury Department said Friday that the monthly federal deficit in September was over 500 percent higher than in the comparable month last year, with the unusually large jump due to President Joe Biden’s student debt relief costs being booked in one fell swoop. The federal agency said in a statement (pdf) that the monthly…
US Treasuries Post Record Foreign Inflows in August: Treasury Data
NEW YORK—Foreign inflows into U.S. Treasuries posted a record in the month of August, data from the U.S. Treasury department showed on Tuesday, as investors speculated about a pivot by the Federal Reserve away from aggressive tightening. Data showed that foreign investors poured an all-time peak of $174.2 billion into U.S. Treasuries, up from $23…
Majority of Americans Say They Are Suffering Financially This Year Due to Inflation
Record-high inflation is beginning to affect the majority of ordinary Americans’ standard of living this year. More than two-thirds of workers, or 72 percent, admit that they are worse off financially than than in 2021, primarily due to higher prices, according to a report by Salary Finance. This is an increase from the 55 percent…
China’s Conflicting Economic Policies
Commentary The Chinese Communist Party (CCP) is taking contradictory economic policies that seem to make little sense: cutting rates, increasing credit, and enforcing the “zero-COVID” policy while facing mounting debt, falling currency, declining consumer demand, rising unemployment, and slowing growth. The Chinese economy is arguably in worse shape than it was 30 or even 40…
‘Canary in the Gold Mine’: Asset Seizures Could Skyrocket Due to Post-Pandemic Debt Default, Says Bailiff
North Central Bailiffs in Kelowna, B.C., is busy. In fact, as pandemic restrictions and mandates continue to ease, owner Mike Sundstrom has never had more work end up on his desk. From Sundstrom’s vantage point, the industry where he makes his living as a licensed bailiff and licensed sheriff isn’t prepared to handle the massive…
UNDP Warns Over 50 Percent of World’s Poorest Need Urgent Relief as Serious Debt Crisis Unfolds
The United Nations Development Programme (UNDP) on Tuesday warned that a serious debt crisis is looming that could have disastrous effects on the world’s poorest. In a new report titled “Avoiding ‘Too Little, Too Late’ on International Debt Relief,” the UNDP estimated that 50 percent of the world’s poorest people urgently need debt relief to avert…
UK Chancellor Brings Forward Debt-Cutting Plan to Oct. 31
The UK government’s plan to reduce debt will be published on Oct. 31, more than three weeks before it was originally due, Chancellor of the Exchequer Kwasi Kwarteng said on Monday. In a letter to Parliament’s Treasury Committee Chair Mel Stride, Kwarteng said he had decided to move up the date from Nov. 23 to Oct….
5 Rules to Build Wealth
At the tender age of 11, I made a solemn vow that when I grew up I was going to be rich. My plan was simple: Marry well. I bless the day I married my husband, a man who is rich in character and unfailing love. I assumed his money would follow. While waiting for…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`