Declining credit quality metrics in Commercial real estate lending pushed several banks to reduce their exposures to the sector by offloading loans related to the asset class, particularly office loans, in the second quarter. US banks’ commercial real estate loan portfolios showed signs of increasing stress During the second quarter, the net charge-off rate for…
In a remarkable event on Friday, President Joe Biden of the United States hosted an unprecedented trilateral summit, uniting the US, Japan, and South Korea leaders at Maryland’s Camp David. With Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol in attendance, Biden convened this summit to solidify a shared security agenda…
US banks suffered nearly $19 billion in debt losses in the second quarter, the highest in more than three years , as lenders grapple with rising defaults by credit card and commercial real estate borrowers. Lenders reported write-offs (losses on loans deemed nonperforming) of $18.9 billion in the quarter, up nearly 17 percent from the…
The upsurge in credit card debt, reaching $1 trillion for the first time played a crucial role in propelling the total household debt figures to $17 trillion , according to latest data released by the Federal Reserve Bank of New York. US Total Household Debt and its composition More than 70 percent of household debt…
The US Treasury market hit a record high in July, surpassing $25 trillion for the first time in its history. This has been reached as the US government continues to borrow to fund its operations and fiscal stimulus. Treasury bills, short-term bills, and bonds outstanding rose about 1% in July to a record $25.137 trillion,…
MKUltra Declassified – Recently declassified files have revealed shocking human experiments conducted during the notorious CIA Mind Control Program, MKULTRA.
The decision to downgrade US credit rating from AAA to AA+ reflects how increasing political polarization and recurrent standoffs in Washington over spending and taxes may eventually burden US taxpayers. Over time, a lower credit rating could lead to higher borrowing costs for the US government.
In May 2023, transborder freight between the United States and its North American neighbors, Canada and Mexico, experienced a notable dip across various transportation modes. A comprehensive report released by the Department of Transportation highlights key insights, revealing how total transborder freight valued at $136.2 billion moved across borders through different transportation channels. The movement…
Julian Assange, known for his whistleblowing activities, is rapidly running out of legal avenues. There is a high likelihood that he could be extradited to the United States within the coming week, raising concerns about the future of investigative journalism. Last week, High Court Judge Jonathan Swift, who has previously worked with British government agencies…
In a groundbreaking development, UK Prime Minister Rishi Sunak and US President Joe Biden have forged the “Atlantic Declaration,” aiming to foster economic cooperation and bolster their respective nations’ growth. While not heralding a comprehensive free trade agreement, the declaration highlights the intent to establish a Critical Minerals Agreement between the two countries, which could…