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News & Articles By Cassie B.
11/17/2023
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By Cassie B.
Bank payment processing outages highlight risks of relying on electronic banking
Last week, a number of American banks could not process payments for a few days, leaving some customers in a precarious financial situation as transfers and deposits failed and highlighting the risks of relying on electronic banking. The effects of the outages were far-reaching. Many people’s payroll direct deposits failed, leaving them unable to access […]
11/15/2023
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By Cassie B.
Moody’s downgrades U.S. credit outlook from “stable” to “negative” amid political drama
Moody’s downgraded its outlook on the U.S. credit rating from “stable” to “negative” on Friday, Nov. 10, in response to sizable fiscal deficits and a drop in debt affordability. The move highlights America’s increasingly dire fiscal standing. Moody’s kept the U.S. at its highest rating of AAA, which means it was not a full downgrade. […]
11/10/2023
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By Cassie B.
Annual interest on U.S. debt soars past $1 trillion for the first time in history
Interest on U.S. debt has soared past $1 trillion for the first time in history, according to calculations from the Treasury. The estimation is calculated using data on the government’s monthly outstanding debt balance and average interest. The projected amount has doubled during the past 19 months. This shocking figure comes as interest costs for […]
11/07/2023
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By Cassie B.
Calls increase to BOYCOTT major corporations for supporting Israeli genocide against Palestinian civilians
The Israeli economy is already suffering from the country’s actions in Gaza, with the shekel reaching a 14-year low and its benchmark stock index dropping 10 percent. With the possibility of a long war ahead that could potentially expand to other fronts, Israel’s economic downturn could be severe, with one economist predicting the economy will […]
10/16/2023
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By Cassie B.
Canadian government THREATENS Costco and Walmart to artificially lower food prices to combat inflation
As inflation continues to climb in Canada, the government has resorted to threatening grocery stores in a bid to get them to artificially reduce their prices to cope with the new reality. In response to political pressure to tackle inflation and a deadline imposed by the government to come up with a plan, the country’s […]
10/03/2023
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By Cassie B.
Russia has almost fully bypassed Western sanctions on oil exports
Western sanctions against Russian oil exports have proven to be unsuccessful as Moscow continues finding ways to completely bypass them. Revenue from Russian oil sales represents a significant share of the Kremlin’s budget, and Western countries hoped that sanctioning exports would dry up funding for their invasion of Ukraine. The U.S. and the EU have […]
09/14/2023
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By Cassie B.
GREEN MIRAGE: World’s biggest offshore wind farm developer warns industry is in serious trouble
The offshore wind industry is in trouble both at home and abroad as it fails to live up to expectations as a dependable source of “green energy.” The world’s biggest offshore wind farm developer, the Danish energy firm Orsted, has seen its value fall by 31 percent since declaring $2.3 billion of U.S. impairments last […]
08/17/2023
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By Cassie B.
American families are spending $709 a month more than two years ago due to Biden’s inflation
The Biden administration has been doing its best to downplay the inflation that Americans are currently dealing with, but Moody’s Analytics recently put a dollar amount on just how much the country’s economic woes have been costing us. According to the chief economist at Moody’s, Mark Zandi, Americans are now spending more than $700 a […]
08/11/2023
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By Cassie B.
PayPal launches its own USD-backed stablecoin for transfers and payments
PayPal has become the country’s first major financial company to issue its own stablecoin backed by the U.S. dollar. PayPal USD (PYUSD) will be redeemable 1:1 for American dollars, according to the company. This means that one U.S. dollar can be redeemed for one PayPal USD and vice versa. As a stablecoin, it is backed […]
08/11/2023
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By Cassie B.
Americans’ credit card debt reaches a record-setting $1 trillion in the face of inflation and rising expenses
The New York Federal Reserve has reported that aggregate credit card balances climbed during the second quarter of this year and exceeded $1 trillion for the first time on record as Americans are increasingly relying on credit cards to cover their expenses. In the period from April through June, total credit card and indebtedness climbed […]
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