Free Republic 2nd Qtr 2025 Fundraising Target: $81,000 Receipts & Pledges to-date: $35,829
44%  
Woo hoo!! And we're now over 44%!! Thank you all very much!! God bless.

Keyword: default

Brevity: Headers | « Text »
  • Biden Forgives Student Loans and ... Behold, Defaults Skyrocket

    05/26/2025 7:13:55 PM PDT · by SeekAndFind · 11 replies
    Hotair ^ | 05/26/25 | Stephen Moore
    Here's an economics lesson that belongs in the textbooks. Student loan debt soared to more than $1.5 trillion during the Biden presidency, and the response by Washington was to "forgive" hundreds of billions of these unpaid loans by deadbeat borrowers and let the taxpayers pick up the tab. It was never clear why the universities that charge exorbitant tuitions that have reached more than $75,000 a year at many elite schools shouldn't bear the cost of the program -- but that's another story. Those of us who watched these events unfold predicted that one result of this policy would be...
  • Education Department to resume collections on defaulted federal student loans for first time since 2020

    04/22/2025 1:15:21 AM PDT · by Libloather · 14 replies
    Fox News ^ | 4/21/25 | Diana Stancy
    The Department of Education is poised to resume collections on defaulted federal student loans in May for the first time since 2020. While the first Trump administration paused referring federal student loans to collections in March 2020 at the onset of the COVID-19 pandemic, the extended lapse has prompted Trump administration officials to worry that the federal student loan portfolio is "headed toward a fiscal cliff if we don't start repayment in collections," according to a senior department official. "The result has been that the federal government student loan portfolio has continued to grow, and we've got a record number...
  • Trump administration studying option to fire Fed chair Powell: White House

    04/18/2025 8:16:18 AM PDT · by RandFan · 72 replies
    Times of India ^ | April 18 | Times of India
    US President Donald Trump and his administration are studying whether dismissing independent Federal Reserve chief Jerome Powell is an option, his top White House economic aide said. "The president and his team will continue to study that matter," National Economic Council director Kevin Hassett told reporters when asked if firing Powell was a possibility, one day after Trump lashed out at the Fed chief.
  • Extraordinary measures’ needed by mid-January to keep US from defaulting on national debt, Treasury Secretary Janet Yellen warns Congress

    12/27/2024 6:24:48 PM PST · by thegagline · 115 replies
    The New York Post ^ | 12/27/2024 | Victor Nava
    “Extraordinary measures” will be needed to keep the US from defaulting on its obligations if the nation’s debt ceiling isn’t raised or suspended by mid-January, Treasury Secretary Janet Yellen warned Congress Friday. Yellen, in a letter to House and Senate leaders, noted that the nation’s debt ceiling — the total amount of money the federal government is authorized to borrow to pay for obligations such as Social Security and Medicare benefits — was suspended in June 2023 but will once again be in effect on Jan. 1. ***. “Treasury currently expects to reach the new limit between January 14 and...
  • Fulton County Superior Court Finds Fani Willis in Default

    12/10/2024 7:25:55 PM PST · by bitt · 12 replies
    https://www.thegatewaypundit.com/ ^ | 12/10/2024 | cristina laila
    The Fulton County Superior Court found District Attorney Fani Willis in default for refusing to hand over documents in an open records lawsuit. Fulton County District Attorney Fani Willis refused to answer a public records lawsuit seeking records of her communications with Special Counsel Jack Smith. Earlier this year conservative watchdog group Judicial Watch asked the Superior Court of Fulton County, Georgia to declare a default judgment against Fani Willis after she refused to respond to its lawsuit related to communications she had with Jack Smith and the sham January 6 Committee. Last year House Judiciary Chairman Jim Jordan launched...
  • California Businesses, Households on the Hook for State’s Default on COVID Loan

    11/21/2024 1:59:51 PM PST · by ChicagoConservative27 · 8 replies
    Breitbart ^ | 11/21/2024 | Joel B. Pollak
    California businesses — and households that pay payroll taxes on domestic employees — are waking up to the reality that they are being forced to pay for the state’s default on $20 billion in federal loans to cover a COVID-era shortfall. The issue came to light this week with a social media post by restaurateur Andrew Gruel about unexpected costs: The Hoover Institution, based at Stanford University, had warned about the problem more than a year ago: Little did California businesses know that they were cosigners on the state’s nearly $20 billion loan from the federal government that was used...
  • S&P agency downgrades Ukraine's credit rating to selective default

    08/04/2024 8:07:32 PM PDT · by delta7 · 40 replies
    Ukra news ^ | 4 Aug 24 | Daria Zubkovka
    The international rating agency S&P Global lowered the long-term and short-term credit ratings of Ukraine in foreign currency to the level of "selective default" - from CC/C to SD/SD - due to the missed payment of Eurobonds on August 1 against the background of debt restructuring. "We understand that the government has decided to suspend bond payments pending restructuring. To that end, the government has not made a coupon payment on its 2026 Eurobonds on August 1, 2024, when payment was due, and we do not expect payments during the bonds' contractual grace period of 10 business days," S&P said...
  • Zelenskyy suspends Ukraine's foreign debt payments until October.(Default)

    08/01/2024 8:56:12 AM PDT · by delta7 · 75 replies
    The Voice of Ukraine ^ | 32 July 25 | Андрій Журба
    The law also grants the government the authority to assume the state-guaranteed debt of the former State Agency of Motor Roads (Ukravtodor), totaling $700 million plus interest. This decision was made because the State Agency for Infrastructure Restoration and Development was unable to restructure these obligations independently Ukraine had previously imposed a freeze on foreign debt payments after Russia's full-scale invasion. This freeze expires on August 1, with the bonds' coupon payment due in 2026. The government needs to restructure the debt to meet the International Monetary Fund's (IMF) requirements under a $15.6 billion program. Approval has been obtained from...
  • Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 TRILLION, Unfunded Liabilities Hits $216 TRILLION)

    06/11/2024 5:59:32 AM PDT · by Kaiser8408a · 17 replies
    Confounded Interest ^ | 06/11/2024 | Anthony B. Sanders
    Too much debt should be the theme song for the US! Both for consumers and the Feral government (not a typo!) Consumer credit increased by +$6.403 billion in April, much softer than consensus estimate of +$10 billion … more notable, however, was March data, given initial read of +$6.274 billion was revised down to -$1.099 billion. Not to mention $13 trillion in mortgage debt (1-4 unit housing), but at least that is backed by property. Unlike The Feral government who borrows/prints with only a promise. Consumer Debt Hits $17.69 TRILLION. US national debt stands at $34.8+ trillion. And growing awfully...
  • The Impact of the Trump Verdict on our AI Computer – The Fall of the US in 8.6 years.

    06/01/2024 5:15:06 AM PDT · by delta7 · 22 replies
    Armstrong Economics ^ | 1 June 24 | Martin Armstrong
    Juan Manuel Merchan is a Colombian-born American judge and former prosecutor. Most curious, he is NOT a formal judge, he is ONLY an acting justice of the New York State Supreme Court in New York County. How did a former prosecutor who is NOT a formal judge get assigned this case? This is not just a possible rigged proceeding, but this is UNCONSTITUTIONAL insofar as the alleged crime is a federal crime when there is no subject matter jurisdiction by this ACTING JUDGE in a state court to preside over a federal crime. Now this ACTING Judge will be sentencing...
  • Tallest Building in Fort Worth Sells for $12/SF at Auction; Pinnacle Bank reclaims 40-story Burnett Plaza after owner defaults on its loan.

    05/14/2024 9:25:08 AM PDT · by Miami Rebel · 22 replies
    Globest ^ | 5/13/2024 | Jack Rogers
    The tallest building in Fort Worth has a commanding position in the city’s skyline, but the 1M SF building only commanded a price of about $12 per square foot at a foreclosure auction. The price per square foot amounted to less than 10% of the previous sale price for Burnett Plaza, which at 40 stories towers over the other buildings in Fort Worth. The winning bidder was one of Burnett Plaza’s lenders: Pinnacle Bank Texas bought back the building at this month’s auction with a bid of $12.3M, according to a report in the Dallas Business Journal. The previous owner,...
  • Cost-Free Spending on Illegal Migrants [semi-satire]

    03/18/2024 12:37:08 PM PDT · by John Semmens · 2 replies
    Semi-News/Semi-Satire ^ | 17 March 2024 | John Semmens
    New York City is paying $387 per day to house and feed each migrant household in taxpayer-funded shelters. Over the course of a year this amounts to $141,255 per household. The median household income in the US is $75,000. A full-time minimum-wage job pays less than $15,000. Sen. John Barrasso (R-Wyo) asked Department of Health and Human Services Secretary Xavier Becerra "why workers who have to live on less should should be taxed so much for the less than lavish accommodations being provided for illegal immigrants?" Becerra said "we aren't letting New Yorkers bear all the burden of supporting these...
  • The Most Foreseeable Disaster in U.S. History

    03/11/2024 7:51:29 AM PDT · by Angelino97 · 63 replies
    Chronicles ^ | March 2024 | Mark C. Brennan
    take a look at the recent Penn Wharton Budget Model (PWBM) publication showing how the United States will soon immolate itself and the rest of the world under its mountain of unpayable debt... the PWBM wastes no time gaslighting its audience. Its conclusion regarding America’s staggering $34 trillion national debt is equal parts terrifying, inevitable, and obvious: "Under current policy, the United States has about 20 years for corrective action, after which no amount of future tax increases or spending cuts could avoid the government defaulting on its debt."...The United States’ precarious balance sheet could lead to disaster even sooner...
  • China's Real Estate Collapse

    02/27/2024 10:48:09 AM PST · by george76 · 30 replies
    X twitter ^ | Feb 27, 2024 | Reef Insights
    At the heart of the decline in family wealth is China's real estate meltdown, which is having a pervasive effect on a society where 70% of family assets are tied up in property. Towards the end of last year, 34 of the top 50 Chinese property developers were in default.. China has rolled out new rules meant to expand access to commercial bank loans for property developers as Beijing doubles down on its effort to end a prolonged crisis in the real estate industry. In an attempt to stabilize financial markets and boost the economy, the Chinese government has cut...
  • China's troubled property sector to face more debt defaults

    11/15/2023 10:30:47 AM PST · by george76 · 8 replies
    Reuters ^ | October 20, 2023 | Xie Yu
    A massive $124.5 billion worth of bonds are now in default in the entire $175 billion China property dollar bond sector ... Counting October, there is a total of $60.5 billion worth of Chinese property bonds due in the next 6 months, with offshore bonds taking up at least one third of it .... Country Garden's international bondholders are now seeking urgent talks with the company. Strains have also shown in other companies. State-backed Sino-Ocean Group ... Another major developer Gemdale .. seen its bonds slide after the resignation of its chairman sparked fears that it too may be in...
  • Chinese developer Country Garden says it can’t meet debt payment deadlines after sales slump

    10/10/2023 11:34:38 AM PDT · by george76 · 11 replies
    ap ^ | October 10, 2023 | ZEN SOO
    Chinese property developer Country Garden warned Tuesday that it cannot repay on time a 470 million Hong Kong dollar ($60 million) loan in the latest sign of distress after Beijing clamped down on mounting debts in the industry. The company said in a filing to the Hong Kong Stock Exchange that it “expects that it will not be able to meet all of its offshore payment obligations when due or within the relevant grace periods,” including U.S. dollar notes the firm has issued. The company said its sales were under “remarkable pressure.” Country Garden earlier had been hailed as a...
  • Bond Market Collapsing Now -- Says Michael Pento

    10/06/2023 9:55:14 AM PDT · by appeal2 · 71 replies
    Financial Survival Network ^ | 10-02-2023 | Kerry Lutz
    Michael Pento discussed the current state of the bond market and warned of the potential collapse of the US dollar due to the erosion of faith in the world’s reserve currency. He advised investors to sell long duration bond exposure and invest in short term US government debt. Pento also discussed the inflation and GDP acceleration, as well as China and Japan’s selling of US treasuries. He warned of the massive issuance and supply of US debt and questioned who will buy it, as the Federal Reserve is no longer buying and is instead selling their balance sheet, adding to...
  • Nearly half of student loan borrowers plan to default

    09/18/2023 10:17:33 AM PDT · by davikkm · 51 replies
    This situation could be quite concerning for several reasons: Credit Score Damage: When people default on their student loans, it can wreak havoc on their credit scores. This means they’ll have trouble accessing credit in the future for things like buying a home, a car, or even just getting a credit card. It’s like a financial scar that can take years to heal. Financial Instability: Defaulting on loans often leads to financial instability. Borrowers may struggle to make ends meet, and this can impact their overall financial well-being. They might have to put off important life decisions like getting married...
  • US Credit Default Swaps Price Now Above Spain As US Debt Gets Close To $33 TRILLION And $194 TRILLION In Unfunded Federal Promises (Joy To The Globalist Elites!)

    09/11/2023 9:46:37 AM PDT · by Kaiser8408a · 8 replies
    Confounded Interest ^ | 09/11/2023 | Anthony B. Sanders
    I ain’t never been to Spain, but the US under Biden is like Spain in terms of default risk. Actually, I have to Spain numerous times and love visiting Barcelona. But the US debt fiasco under Biden and Congressional spending sprees has led to … US credit default swap being priced worse than Spain’s CDS. With Biden/Congress orgy of spending (and a declining economy in many important respects), the US is seeing Federal debt near $33 TRILLION and even worse, unfunded Federal liabilities (promises, promises) are at $193 TRILLION, almost 6 times the current Federal debt load. If you are...
  • Country Garden warns of default risks, 'deeply remorseful' for record loss (China property developer)

    08/31/2023 1:18:37 PM PDT · by dynachrome · 2 replies
    Reuters ^ | 8-30-23 | Clare Jim
    China's largest private property developer warned on Wednesday of default risks if its financial performance continues to deteriorate, and said it "felt deeply remorseful" for its record loss in the first half. Country Garden (2007.HK) posted a net loss between January and June of 48.9 billion yuan ($6.72 billion), versus a 6.7 billion yuan net loss in the second half of 2022 and a 612 million yuan net profit in the first half of 2022. The results come as Chinese authorities take steps to revive the troubled property market, which accounts for roughly a quarter of the economy. The sector's...