Oceanwide Plaza – a three-tower condominium, hotel, and retail complex expected to cost over $1 billion – is one of the largest real estate projects in downtown Los Angeles. It was scheduled to be completed...
Foreign private-sector investors and “foreign official” investors – central banks, governments, etc. – whittled down their holdings of US Treasury Securities by $21 billion at the end of July, compared to a year ago, to...
International Monetary Fund (IMF) Managing Director Christine Lagarde believes China’s “Belt and Road” is a good idea, but she also warned about saddling countries involved in the project with too much debt. The IMF chief...
Though extremely unstable, agricultural growth has far outpaced population growth in recent years; the supply of agricultural goods per head has risen. The proportion of population dependent on agriculture has been falling; so goods produced...
While everyone is trying to figure out how to twist the new tax cut to their advantage and save some money, the US Treasury Department just announced how much net new debt it will have...
“There is zero chance, no chance we won’t raise the debt ceiling,” swore Senate Majority Leader Mitch McConnell (R., Ky.) at an event in Louisville, Kentucky, on Monday. He who couldn’t get his Republican ducks...
Commercial Chapter 11 bankruptcies – an effort to restructure the business, rather than liquidating it – jumped 16% year-over-year in June to 581 filings across the US. Total commercial bankruptcies of all types, by large...
This agreement will free up the next tranche of payment so that Greece can make a large debt service payment (~7 bln euros) next month. However, the underlying situation is not resolved, and until it...
The heavy hand of past borrowings continues to hang over us. China’s explosion of debt is worrisome. The bad loans being carried by European banks may be a factor restraining the willingness to lend. The...
Economics excites economists no end, and bores the rest to death. The Economic Survey is an ideal tome for the bedside, and a perfect cure for insomnia. Having realized this in his short tenure, the...
Freud warned that unresolved psychological conflicts might be repressed but they keep returning. So too with Greece’s debt problems. A new crisis is at hand. Investor nervousness is evident in the surge in the two-year...
The loss of tax perks and its status as a commonwealth are just two of many reasons for Puerto Rico’s bankruptcy. The island is now hoping that the default will give it leverage to restructure...