We Just Crossed the Line Debt Hawks Warned Us About for Decades

The country’s debt now exceeds the size of its gross domestic product. For decades, this was considered a doomsday scenario that would wreck the economy. So far, that hasn’t happened.

#congressional-budget-office, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #government-bonds, #gross-domestic-product, #interest-rates, #national-debt-us, #united-states-economy, #united-states-politics-and-government

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In Argentina’s Debt Negotiations, a Kinder, Gentler Capitalism Faces a Test

BlackRock, the world’s largest asset management company, is opposing a debt settlement deal with Argentina as the country grapples with soaring poverty and the pandemic.

#argentina, #blackrock-inc, #business-roundtable, #coronavirus-2019-ncov, #corporate-social-responsibility, #economic-conditions-and-trends, #fernandez-alberto-1959, #fink-laurence-d, #georgieva-kristalina-ivanova, #government-bonds, #gramercy-funds-management-llc, #international-monetary-fund, #macri-mauricio, #pensions-and-retirement-plans, #poverty, #stiglitz-joseph-e

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A Hedge Fund Bailout Highlights How Regulators Ignored Big Risks

The Dodd-Frank financial law succeeded at making banks safer, but empowered shadowy corners of finance that nearly wrecked the system in March.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #dodd-frank-wall-street-reform-and-consumer-protection-act-2010, #federal-reserve-system, #financial-stability-oversight-council, #government-bonds, #hedge-funds, #mnuchin-steven-t, #prices-fares-fees-and-rates, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #stocks-and-bonds, #treasury-department, #united-states-economy, #united-states-politics-and-government

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‘Europe Finally Got the Message’: Leaders Act Together on Stimulus

New measures by the European Central Bank and the German government to combat the economic damage caused by the pandemic have exceeded expectations.

#coronavirus-2019-ncov, #european-central-bank, #european-commission, #european-union, #eurozone, #germany, #government-bonds, #lagarde-christine, #stimulus-economic

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A €750 Billion Coronavirus Recovery Plan Thrusts Europe Into a New Frontier

Adopting the proposal would make history for the bloc, vesting authority in Brussels in ways that more closely resembled a central government.

#budgets-and-budgeting, #coronavirus-2019-ncov, #credit-and-debt, #europe, #european-commission, #european-union, #government-bonds, #politics-and-government, #recession-and-depression, #taxation

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A €750 Billion Virus Recovery Plan Thrusts Europe Into a New Frontier

The European Commission wants to issue bonds to raise the funds, taking a step closer to a shared budget potentially paid for through common taxes.

#budgets-and-budgeting, #coronavirus-2019-ncov, #credit-and-debt, #europe, #european-commission, #european-union, #government-bonds, #politics-and-government, #recession-and-depression, #taxation

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Too Big to Fail: The Entire Private Sector

Large parts of financial markets are now being managed by the government. Even if they don’t like it, investors must acknowledge it.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-system, #government-bonds, #powell-jerome-h, #regulation-and-deregulation-of-industry, #shutdowns-institutional, #stock-buybacks, #stocks-and-bonds

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Fed Chair Says Economic Recovery May ‘Stretch’ Through End of 2021

Jerome H. Powell, who heads the central bank, predicted a slow economic recovery and reiterated that policymakers may need to do more.

#60-minutes-tv-program, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-system, #government-bonds, #powell-jerome-h, #recession-and-depression, #shutdowns-institutional, #unemployment, #united-states-economy

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The Virus Is Vaporizing Tax Revenues, Putting States in a Bind

With businesses closed and obligations mounting, state finances are stretched and poised to worsen.

#budgets-and-budgeting, #coronavirus-2019-ncov, #credit-and-debt, #cuomo-andrew-m, #government-bonds, #income-tax, #lamont-ned, #politics-and-government, #states-us, #stitt-kevin, #taxation, #trump-donald-j, #united-states, #united-states-economy, #wages-and-salaries

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Investors Move Back In After Worst Market Rout in Years

Global shares rose one day after coronavirus fears and oil market disruptions caused the biggest stock sell-off in a decade. Still, bonds and gold prices signaled persistent worries.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #government-bonds, #oil-petroleum-and-gasoline, #standardpoors-500-stock-index, #stocks-and-bonds

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Stock Market Today: Live Updates and Coverage

Wall Street looked poised for a sharp drop on Monday morning after the outbreak worsened in Europe and the U.S. Oil prices and bond yields tumbled.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #government-bonds, #oil-petroleum-and-gasoline, #stocks-and-bonds

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