The Never-ending Alchemy of Hidden Debt

The Never-ending Alchemy of Hidden Debt

Corporations hide their balance sheet debt routinely, with their lenders, advisors, auditors, rating agencies and media sycophants abetting their collective efforts in maintaining the image of not only solvency, but of nonstop growth.  Trouble is, sometimes this banal financial alchemy catches up with them, and then crises happen, whether limited to the firm, or in […]

How to cope with old medical debt

How to cope with old medical debt

NEW YORK (Reuters) – My kids got a great report from the dentist at their last checkup. From the receptionist? Not so much. FILE PHOTO: A dentist works in his office in Tver, Russia April 20, 2016. REUTERS/Alexander Reshetnikov When I went to make an appointment for their next cleaning in six months, she shocked […]

Government Debt Explosion!…$52,000 per SECOND!…Is the END near?

Government Debt Explosion!…$52,000 per SECOND!…Is the END near?

Every bubble goes through different phases before it finally bursts. They all end in a euphoric crack-up boom. In less than a year, the U.S. government has been clocking in debt at an average of $ 52,000 per SECOND, which more than what the average American earns in an entire YEAR! Is the U.S. government […]

Goldman outpaces peers in debt underwriting, bond trading

Goldman outpaces peers in debt underwriting, bond trading

NEW YORK (Reuters) – Goldman Sachs Group Inc on Tuesday reported a year-on-year jump in debt underwriting revenue after working on financing for big M&A deals that some peers missed out on. The Goldman Sachs company logo is seen in the company’s space on the floor of the New York Stock Exchange, (NYSE) in New […]

The Facility Boondoggle: Corporatism Having more than Debt obligations

The Facility Boondoggle: Corporatism Having more than Debt obligations

A trillion dollars here…A trillion dollars there… It’s all music to crony corporation ears. Consumers are fickle, always wanting a better deal, and quick to jump to a competitor. The free market is hard, which is why it’s so hated by Big Business. It so much easier to milk the taxpayer in lieu of satisfying […]

Student Debt Slavery: Bankrolling Financiers On The Backs Of The Young

Student Debt Slavery: Bankrolling Financiers On The Backs Of The Young

The Web Of Debt Blog —The advantages of slavery by debt over “chattel” slavery – ownership of humans as a property right – were set out in an infamous document called the Hazard Circular, reportedly circulated by British banking interests among their American banking counterparts during the American Civil War. It read in part: Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are glad of, for […]

Use balance transfers to start 2018 with path to pay off debt

NEW YORK (Reuters) – When the U.S. Federal Reserve raises interest rates, as it did on Wednesday by a quarter-percentage point, the first pinch consumers usually feel is higher interest rates on credit cards. U.S. outgoing Federal Reserve Chair Janet Yellen arrives for a news conference after a two-day Federal Open Market Committee (FOMC) meeting […]