debt

Shonnita Leslie, a 40-year-old millennial, shared her journey of paying off a substantial credit card debt and then deciding to cut up her cards, a decision she has stuck to for six years. What Happened: Leslie’s mother instilled in her a deep aversion to credit cards. Despite receiving...

The Chinese government is tightening the noose on debt defaulters, imposing stringent penalties that include restrictions on high-speed rail travel and luxury accommodations. This move is part of a broader crackdown on unpaid bills. What Happened: Beijing is resorting to severe actions against...

Wharton professor Joao Gomes has expressed concern over the rapid growth of U.S. debt. He predicts that if Congress does not take immediate action, the U.S. could face a debt crisis by 2025. What Happened: Gomes compared the situation with the UK’s 2022 financial crisis. He suggested the U.S...

Over 85% of Americans are deeply concerned about the grave impact the burgeoning national debt may have on their future, according to a new study. What Happened: A survey from John Zogby Strategies for the non-profit organization Main Street Economics gauged the awareness and apprehensions of some...

Blue bonds, a form of debt that allows investors to fund water conservation efforts, are on the brink of a major breakthrough, with the market size set to expand significantly. This development could have a significant impact on the sustainable finance sector. What Happened: Blue bonds, which...

U.S. Treasury Secretary Janet Yellen warned on Thursday of the potential failure of non-bank lenders if household finances became stretched and the rate of delinquencies on loans rises. Speaking before a Senate Committee on Banking, Housing and Urban Affairs, the former Federal Reserve chair warned...

U.S. household debt climbed by $212 billion, reaching a new record high of $17.5 trillion at the end of 2023, according to the New York Federal Reserve. The Quarterly Report on Household Debt and Credit revealed significant increases across several categories, with credit card balances and...

Carvana Co. (NYSE:CVNA) is reportedly gearing up for a restructuring. Over the past 18 months, Carvana has undertaken a significant restructuring, focusing on operations and debt reduction amidst bankruptcy concerns, reported CNBC. These strategic moves are crucial for the company and its major...

Bill Gross, co-founder of PIMCO, also known as “Bond King” anticipated a significant escalation in the U.S. debt crisis. He compared the future implications of the nation’s $34 trillion debt to the slow yet destructive effects of climate change, predicting a potential spike in...

Shares in homebuilders fell sharply this week following fourth-quarter results from D.R. Horton Inc (NYSE:DHI) which showed the company had to pile on the sales incentives to generate its top-line growth. Thus, even though the biggest house builder in the U.S. generated annual revenue growth of 6.4...

Companies are on a record-setting debt binge, with investment-grade firms issuing a staggering $153 billion in dollar-denominated bonds since the start of 2024. This is the highest amount of debt issued in 30 years, according to data from the London Stock Exchange Group. What Happened: The bond...

Global investment bank JPMorgan has sent out a warning signal, likening the ballooning $34 trillion U.S. national debt to a ‘boiling frog’ situation, which could potentially lead to an unmanageable financial crisis. What Happened: The U.S. national debt has hit a new high of $34...

Economist Jared Bernstein has recently discussed the state of consumer debt in the U.S., shedding light on its gradual return to pre-pandemic levels. What Happened: In an interview with Bloomberg, Bernstein said this development signifies a positive step forward in the ongoing conversations about...

In a recent reveal, JP Morgan’s Marko Kolanovic suggests a lean towards cash over stocks in 2024, attributing the shift to the improbability of swift interest rate cuts by the Federal Reserve. What Happened: Kolanovic’s outlook is based on the over-optimism of investors in sidestepping...

The U.S. has witnessed a dramatic spike in its national debt, with an increase of a staggering $240 billion in November 2023 alone. What Happened: The significant rise has sparked concerns about the nation's economic health and stability. According to a report from the U.S. Treasury,...