Fighting wars, big tax cuts and economic stimulus packages have all added to the debt burden The U.S. has exceeded $20 trillion in national debt — the nation was a cool $20.16 trillion in the red as of today — and now that it’s crossed that mark, get ready for some finger pointing over who’s to blame.
Sentiment in Washington has shifted: There is now more that can go wrong than right, many say. The Dow Jones Industrial Average posted its biggest decline in three months on Thursday, one week after a similar selloff of similar scale sent stock indexes tumbling around the world.
Deutsche Bank is in trouble — and that’s bad news for all of us. Deutsche Bank is Germany’s biggest bank, with more than 100,000 employees around the world and operations in more than 70 countries. Its assets total about $1.7 trillion. One worrying sign of the bank’s distress is that its stock is trading now at about $14 a share, roughly half the peak (almost $29) in the past year and much lower than the…
The Chinese economy starts the new year by falling flat on its face. What this could mean for you is a rare opportunity to protect your money and possibly even grow your wealth. China just watched its stock market take a massive seven percent hit in value and had to take unprecedented measures to stop the bleeding. First, it’s critical to understand how the Chinese economy affects financial matters here in the United States.
Americans may never see the day where banking executives are indicted on a wide array of financial crimes they have been accused of… but they did pay one of the largest fines ever recorded. The banks involved include: Bank of America, JP Morgan Chase, Wells Fargo, Morgan Stanley, CitiGroup, UBS, HSBC, and Goldman Sachs.