Tax the rich and better target the multinationals: The IMF has set off shockwaves this week in Washington by suggesting countries fight budget deficits by raising taxes. Tucked inside a report on public debt, the new tack was mostly eclipsed by worries about the US budget crisis, but did not escape the notice of experts and nongovernmental organizations (NGOs).
Fitch warns it may cut U.S. credit rating from AAA
Fitch Ratings warned on Tuesday it could cut the sovereign credit rating of the United States from AAA, citing the political brinkmanship over raising the federal debt ceiling. "Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financing flexibility could increase the risk of a U.S. default," the firm said in a statement.
US debt ceiling: Senate takes over as House plans fail
Frantic US political attempts to avert a federal debt default have pivoted back to the Senate after plans in the House of Representatives collapsed. Upper chamber leaders resumed work overnight on a deal to raise the US borrowing limit and end a partial government shutdown.
Federal
Reserve Balance Sheet Soon To Hit $4 Trillion in Assets
It is going to be interesting to see exactly what happens with the Federal Reserve's balance sheet under Janet Yellen. We do not yet have the full details of a compromise for the debt ceiling, but it seems obvious that a resolution is going to be found that will reopen the federal government and which will allow the United States to pay its bills. The reality is that the Federal Reserve's balance sheet is getting closer and closer to having $4 trillion worth of assets. It also now seems more than possible that quantitative easing will go on much longer than expected even just a month ago.
It is going to be interesting to see exactly what happens with the Federal Reserve's balance sheet under Janet Yellen. We do not yet have the full details of a compromise for the debt ceiling, but it seems obvious that a resolution is going to be found that will reopen the federal government and which will allow the United States to pay its bills. The reality is that the Federal Reserve's balance sheet is getting closer and closer to having $4 trillion worth of assets. It also now seems more than possible that quantitative easing will go on much longer than expected even just a month ago.
Surprise!
Europe's Banks Are STILL Totally Insolvent...
Nobody knows the true scale of potential losses at Europe's banks, but the International Monetary Fund hinted at the enormity of the problem this month, saying that Spanish and Italian banks face 230 billion euros ($310 billion) of losses alone on credit to companies in the next two years.
Nobody knows the true scale of potential losses at Europe's banks, but the International Monetary Fund hinted at the enormity of the problem this month, saying that Spanish and Italian banks face 230 billion euros ($310 billion) of losses alone on credit to companies in the next two years.
No comments:
Post a Comment