Economy
-
The explosion of U.S. debt is wiping out the ‘safety premium’ of Treasury bonds, and time is running out for an orderly fiscal solution, IMF warns
Soaring U.S. debt is causing Treasury bonds to lose their risk advantage over other securities, making it more expensive to borrow money, the International Monetary Fund warned. Treasuries have long enjoyed the status as the world’s top safe haven asset. But annual budget deficits are now at $2 trillion, rapidly piling on to the $39…
-
Gen Z is ‘Chinamaxxing’—and it’s less a love letter to Beijing than an indictment of America
The American century — a phrase coined by Fortune founder Henry Luce — had a soundtrack. It was Chuck Berry on the radio and Coca-Cola in the cooler, Levi’s jeans, and Marlboro billboards stretching across Europe. American culture didn’t conquer the world through military force—it did it through desirability. People wanted to be American. That aspiration was…
-
Putin finally admits Russia’s economy is in trouble and grasps for answers, after warnings about a financial crisis have been piling up
Russian President Vladimir Putin made his concerns about the economy public as he vented frustration at aides and demanded they come up with solutions. During a televised meeting on the economy Wednesday, he revealed that GDP shrank by combined 1.8% in January and February, adding that manufacturing, industrial production and construction were negative. “I expect…
-
‘We should absolutely be concerned about non-college-educated men today’: higher rents, living at home, falling out of the labor market
Men are nearly twice as likely as women to be living with their parents, and a new study says it’s particularly harmful for non-college educated men, who are less likely to hold jobs compared to their college-educated counterparts. As rents have surged across the country, more and more men are moving home, and once there,…
-
Something is different about Trump’s $1 trillion war on Iran and its stress on the national debt, Harvard Kennedy scholar says
German Enlightenment philosopher Immanuel Kant argued in his 1795 essay Perpetual Peace: A Philosophical Sketch, that nations should conduct themselves in a particular way with wars and debt: “National debts shall not be contracted with a view to the external friction of states.” In other words, to maintain peace, don’t finance wars with debt. Nearly…
-
Half of Iran’s workforce faces unemployment risk as the U.S.-Israel war’s ‘hidden target’ was the labor market, economist says
The U.S. and Iran have observed a ceasefire for nearly two weeks, but the economic toll is only starting to become clear and could have drastic consequences. The U.S.-Israeli bombardment has damaged more than 125,000 residential and civilian buildings, while over 20,000 industrial units have been destroyed, according to Hadi Kahalzadeh, a former economist at Iran’s Social…
-
The $39 trillion national debt could break the all-important U.S. bond market, sparking a ‘vicious’ emergency, former Treasury secretary warns
The U.S. is caught in a spiraling debt crisis, and a major casualty might be demand for U.S. Treasuries—a critical support pillar for the economy and the government’s ability to spend money. The scale of U.S. borrowing is severely testing confidence in the country’s ability to keep financing itself. The federal debt has climbed to…
-
Tourism had a record-breaking 2025 everywhere but the U.S., report finds, as international visitor numbers plummet by the millions
Last year was a record-breaking one for international tourism, injecting trillions of dollars into the global economy and supporting millions of jobs. But while more people than ever took to weathered streets of European capitals or sun-soaked beaches on Pacific islands, the U.S. appears to have plummeted down travelers’ bucket lists. Global travel last year…
-
If the economy feels even worse for you than the inflation data says, that might be because childcare isn’t deemed a ‘necessity’
Inflation isn’t in a great place right now: Despite “affordability” becoming the buzzword of D.C., prices are moving in the opposite direction to consumers’ wishes. The latest CPI report from the Bureau of Labor Statistics shows inflation jumped once again, up to 3.3% over the past 12 months. Much of this has come from increases…
-
Food companies are finally cutting prices. PepsiCo shows it’s worth it
After accepting the reality that its inflation-weary customers had had enough of price increases in recent years, PepsiCo slashed U.S. prices on Lay’s, Doritos, Cheetos, and Tostitos chips by up to 15% in February. It seems to have worked: The move is helping bring back some of the food and beverage maker’s customers who had…