The billions Britain needs are at Rachel Reeves’s fingertips, and no fiscal promises need be broken | Polly Toynbee
TIt was real anger. Rachel Reeves’s indignation in the House of Commons about the legacy she was left with was fully justified. Labour is genuinely outraged by the deliberate destruction wrought by former Chancellor Jeremy Hunt, knowing that the party would have no stake in it for years to come. Labour has indeed put “party […]
Hong Kong legislator eyes Bitcoin for fiscal reserves – Cointelegraph
Hong Kong Legislative Council Member Johnny Ng has announced plans to work with various stakeholders to assess the feasibility and potential benefits of incorporating Bitcoin into the special administrative region’s financial reserves. In a recent X post, Ng highlighted the growing global recognition of Bitcoin (BTC), which is often referred to as “digital gold” due […]
Fed Chair Jerome Powell Warns About U.S. Fiscal Policy’s Unsustainable Path
Estimated Reading Time: 3 minutes Editors’ Note: One of the least discussed subjects is the incredible and dangerous distortions in the US economy. A powerful rising stock market has obscured the problem. Recently, we have registered another strong breakout to the upside. But we have often cautioned not to conflate the stock market with the […]
Senate negotiators unanimously pass first batch of government funding bills for fiscal 2025
The Senate Appropriations Committee on Thursday passed the first wave of fiscal 2025 government budget proposals, authorizing hundreds of billions of dollars in federal spending for much of next year. The bill lays out annual budget proposals for the Department of Veterans Affairs (VA), the Department of Agriculture, the Food and Drug Administration, and the […]
French stocks retreat as election result sows fiscal worry – Yahoo Finance
(Bloomberg) — French markets erased initial losses as investors speculated that an election that failed to deliver a clear majority would force the next government to make compromises and back off its most extreme policies. Most read articles on Bloomberg The CAC 40 index rose 0.2% after dropping 0.6% at the open. French government bonds […]
Congress has an obligation to restore nation’s fiscal health. Here's how it can
What you are about to read may seem incomprehensible, but it is true: the U.S. government has been borrowing approximately $90,000 per second over the course of a year. In total, the federal government will borrow between $2.2 trillion and $2.5 trillion this year. Pushing the national debt to $35 trillion. As Vice Chairman of […]
Biden Tried to Use ‘Fiscal Stimulus’ to Get Himself Re-Elected
On Friday’s “PBS NewsHour,” The New York Times Columnist David Brooks said President Joe Biden’s strategy to win the 2024 election is to “use fiscal stimulus to really jumpstart the election and win over working-class voters.” Brooks said the panic over Biden’s debate performance was understandable, saying, “Today, looking back at the 2020 debates, Biden […]
California Democrats reject budget cuts proposed by Newsom as new fiscal year approaches
In the Golden State, Democrats in the legislature are pushing forward with their ways to cut the budget after rejecting proposals from Gov. Gavin Newsom (D-CA), even as discussions continue. California lawmakers have been in a race to pass a balanced budget ahead of the new fiscal year to avoid a shutdown. However, which cuts […]
JPMorgan Chase CEO Jamie Dimon warns of fiscal deficit
JPMorgan Chase & Co. CEO Jamie Dimon said Wednesday that the U.S. needs to pay down its budget deficit sooner rather than later, before the issue escalates into a “much more unpleasant” crisis in the future. I warned you. “America has spent a lot of money,” Dimon told Sky News on Wednesday. The bank’s chief […]
Why are economists MIA on today’s biggest fiscal catastrophes?
Not long ago, economists debated in public over basic economic policy questions. Most important in the discussion was a conflict over fairness and efficiency. Efficiency drives economic growth and overall prosperity. Equity deals with how much of people’s income should go to the less fortunate. In general, an increase in capital risks a decrease in […]