Commentary Chaos and failure in Sri Lanka signal problems throughout the developing world that will make trouble for China. Loan losses in Sri Lanka and elsewhere will of course add to China’s increasingly severe debt overhang. Further, events in Sri Lanka will raise questions among others about participating in Beijing’s vaunted Belt and Road Initiative…
US Household Credit Card Debt Up 13 Percent as Cost of Living Surges: Report
Credit card debt held by American households surged in the second quarter of 2022, according to the Federal Reserve Bank of New York’s Center for Microeconomic Data’s quarterly report, published on Aug. 2. The report (pdf) on household debt and credit showed that total household debt reached $16.15 trillion at the end of June, marking an…
11 Simple Savings Habits That Will Get You What You Want
Over the weekend I was thinking about future travel plans. There are so many places that I would love to visit. But, that’s just not feasible if I don’t buckle down and step-up my savings game. The best place to start saving money is with small, everyday habits. After a while, these habits will become automatic….
Parliamentary Budget Officer Says Canada’s Debt Level Is Sustainable Over Long Term
The parliamentary budget officer says Canada’s current fiscal policy is sustainable over the long term. The PBO’s latest fiscal sustainability report finds that Canada’s overall debt level is projected to decline steadily over time. At the federal level, the report says, the government could permanently increase spending or reduce taxes by 1.8 percent of GDP…
Chinese Hospital Delays Salaries Five Months: Medical Staff
How bad are the local governments’ finances in China? A piece of recent Chinese news gives a clue. A hospital in a northeastern coastal city has not paid its employees since March, according to a video report from state-run Chinese media The Paper. While the COVID pandemic was blamed, the hospital administrators admitted that the…
In Your Debt: 3 Times Debt Can Be a Helpful Tool
In some corners of the personal finance advice world, getting into debt is just about the worst thing you can do. And yes, some forms of debt—particularly those that charge high interest rates—can keep you locked in a cycle of owing money for years. Still, there are times where taking on debt serves a purpose…
Sri Lanka and the Start of a Starvation Pandemic
Commentary Poor governmental decisions in many countries are leading to mass starvation–and public retaliation against their governments. Sri Lanka’s current dire problems—in which popular street action has thrown out, first, a sitting prime minister, then his replacement, and then the sitting president—seem likely to be a precursor to similar actions elsewhere in the world. And…
4 Items for Your Midyear Money Checklist
A lot can happen in six months. That’s why, as we close out the first half of the year, it makes sense to check in on your financial life. “With inflation, I think people this year are more heavily impacted than they probably have been in many years leading up to this point,” says Jason…
6 Tips for Digging Your Small Business Out of Serious Debt
While most people consider some debt to be healthy, too much debt is certainly not good for a small business. It acts as a weight around your ankle, holding you back from accomplishing your long-term financial goals. Serious debt is something that creeps up on a lot of business owners, you’re not alone. But how can…
ECB Will Keep Countries on Straight and Narrow Even If It Buys Their Debt: Lagarde
SINTRA, Portugal—The European Central Bank’s upcoming bond-buying program will curb rising borrowing costs for vulnerable eurozone countries while keeping up pressure on their governments to repair their budgets, ECB President Christine Lagarde said on Tuesday. With the ECB nearing its first interest rate hike in over a decade, bond yields for Italy and other indebted…
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