World Irony
US is basically a technically Bankrupted Country with the Highest Debts in the world. China happens to be US second largest Creditor, after falling from the Top position with consistent sell off of US Treasury Bills for the past few years. It's amusing to see how the debtor trying all means to threaten its second largest Creditor...
USA is in Real Trouble
Some people think that the current bank failures in US would not be worse than 2008 Lehman Brothers Subprime crisis but the situation may be even worse. We have a situation whereby consumers were too used to low mortgage rates which was similar to subprime and now, there is an aggressive spike in interest rates. Apart from that,...
Potential loss on mortages
According to the Federal Reserve Bank of St. Louis, as of the end of 2021, the total outstanding residential mortgage debt in the United States was approximately $11.85 trillion. This includes both fixed-rate and adjustable-rate mortgages, as well as first-lien and junior-lien mortgages. (There is no breakdown). The most common...
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