The United States has now officially accumulated a $20 trillion debt. The ceiling was broken after the White House allowed the Treasury to borrow more money. As of Tuesday, the American national debt stood at $20.16 trillion, according to the US Debt Clock website. This is almost $62,000 per person and over $167,000 per tax payer. The debt number had been stagnant since March due to the debt ceiling,... 

On Thursday, Donald Trump told CNBC that his solution to dealing with the $19 trillion-plus national debt involves a form of default such as repurchasing existing bonds at a discount. The media jumped all over him calling his idea “insane” and warning that it would tank the economy or set off an “unprecedented financial crisis.” They are right that it would set off an unprecedented financial... 

US banks might have rigged another huge market, Bloomberg reports. Dealers including top American banks which control the $12.8 trillion US Treasury market rigged bond auctions for years, Bloomberg reports. Citing a federal antitrust lawsuit, the financial data and news provider says the giant Jewish owned banks such as Goldman Sachs, JPMorgan, and Morgan Stanley coordinated to manipulate Treasury... 

Last week’s historic stock market crash was caused not by China, but by the US Federal Reserve, according to former US Congressman Ron Paul. In a column published on his website Sunday, Paul blamed the crash on flawed monetary policy from the Fed, and not on China’s recent currency devaluation, as many experts said. “The Federal Reserve’s inflationary policies distort the economy,... 

China and Russia are changing the financial architecture of the world, award-winning author, sociologist and geopolitical analyst Mahdi Darius Nazemroaya emphasizes, recommending the Wall Street financial elite to focus on America’s domestic problems instead of trying to undermine China’s economy. The rise of the yuan sends shivers down the spine of America’s financial elite: fearing... 

On Monday, the US reached its legal debt limit of $18 trillion, more than the country’s entire GDP. Lawmakers will either have to again lift it, or attempt to cap spending. As of March 12, the US Treasury reported federal debt at $18,114,324,000,000.00 in its daily treasury statement. This figure is above the statutory debt limit, which was extended by Congress through March 15 this year. Treasury... 

An American economist says the country’s middle class population is being pushed further down the scale of economic capability. “…the income distribution has been severely hurt. It is so badly skewed now that all of the evidence is clear – a very small percent of the population receives almost the entire gain and income increases and the wealth is being concentrated in the top, is extremely... 

Republican and Democratic leaders in the US Senate are reportedly “very close” to announcing a deal on the nation’s borrowing authority that would avert an unprecedented default on US debt. Harry Reid and Mitch McConnell, the Senate majority and minority leaders held talks on Wednesday morning as the Thursday deadline on the debt limit is fast approaching. The US Treasury taps out its reserves... 

The US stock market plummeted to its lowest level in almost a month as a federal government shutdown stretched into its third day on Thursday. The Dow Jones industrial average dropped 135 points after the closing bell. The 0.9 percent loss forced the Dow index to close at below 15,000 points. The broad-based Standard & Poor’s 500 index also fell 17 points, or 1 percent, to its lowest point... 

The US Treasury has warned of catastrophic effects if a political stalemate over raising the government’s debt limit forces a US default on its obligations. The federal government is expected to exhaust its cash reserves by October 17 and if US lawmakers do not reach an agreement to raise the nation’s debt ceiling, the government will not be able to pay its bills and will default on its legal... 

Chinese held US federal debt has reached a record $1.3 trillion. In May 2013 China bought $25.2 billion in US Treasury notes and bonds, according to Xinhua News Agency. “US bonds remain one of the most attractive financial instruments in terms of safety. Recovery of the US economy strengthens the dollar, which is also a positive factor,” Chinese experts are quoted by the Chinese News Agency. China’s... 

The United States might officially be the worst neighbor on Earth: the US now owes its allies $5.2923 trillion, the most money the country has ever been indebted to its foreign friends in the history of the nation. Statistics released this week by the US Treasury indicate that, as of June 2012, the United States has borrowed bucks from most of the world’s major countries and has accumulated a debt... 

China has made the first annual reduction in its holdings of US Treasury bonds in a decade. Experts are viewing the move as a sign that the country is accelerating the move away from dollar assets in search of more diversified investment channels. According to the latest monthly figures from the US Treasury Department, China’s holdings of US Treasury bonds dropped for a fifth consecutive month... 

The US is at the risk of a war with Russia and China as its main objective behind engineering the Libyan war and Syrian unrest is to remove the two world powers out of the Mediterranean, a former US official warns. “Washington is all for invading against Libya and is putting more and more pressure to intervene in Syria because we want to … clear China and Russia out of the Mediterranean,”...