Money

Janet Yellen warns against not raising debt ceiling

Published

1 year ago

April 26, 2023

ticker NEWS

The U.S. Treasury Secretary argues if a default were to occur, it would result in job losses, while driving credit repayments higher

U.S. Treasury Secretary Janet Yellen has warned if Congress fails to raise the government’s debt ceiling, this would trigger an “economic catastrophe”.

Yellen argues if a default were to occur, it would result in job losses, while driving credit repayments on homes and cars much higher.

She said it was a “basic responsibility” of Congress to increase or suspend the $31.4 trillion borrowing cap.

“A default on our debt would produce an economic and financial catastrophe,” Yellen told Sacramento Metropolitan Chamber of Commerce members. “A default would raise the cost of borrowing into perpetuity.

“Future investments would become substantially more costly.

“Congress must vote to raise or suspend the debt limit. It should do so without conditions. And it should not wait until the last minute.”

Money

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending