US Postal Service may default
Retiree health care benefits are a major part of the problem as is declining mail volume. Why mail a letter when you can email or text someone? They are threatening to default if Congress doesn’t allow them to put less…
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Tag default
Iceland proves Ireland did ‘wrong things’ sacrificing taxpayers
Bloomberg states the obvious Unlike other nations, including the U.S. and Ireland, which injected billions of dollars of capital into their financial institutions to keep them afloat, Iceland placed its biggest lenders in receivership. It chose not to protect creditors…
California could default on its debt
Like a heroin addict needing one last fix, California wants to stop. But, just one more injection of that sweet bond income and then tomorrow it’ll get its financial house in order, really, that’s a promise. California has huge debt…
Illinois now has higher default risk than Iceland
CMA Vision The CMA Sovereign Risk Monitor identifies and ranks the world’s most volatile sovereign debt issuers according to percentage changes in their 5 year CDS. Illinois’ accomplishment is impressive indeed, especially considering Iceland had their entire banking system self-destruct…
Dubai to delay payment on $59 billion in debt
This is making banks and lenders across the planet quite twitchy and could be the biggest sovereign debt default since Argentina in 2001. Abu Dhabi won’t backstop the debt and the price of credit default swaps for Dubai’s debt is…