National debt surpasses record $23 trillion

The U.S. national debt surpassed $23 trillion on Friday, per the Treasury Department and the Peterson Foundation. The national debt met the $22 trillion mark just nine months ago and has soared $3 trillion since Trump took office, when it rested at $19.95 trillion. The White House projected in July that the federal deficit would … Read more National debt surpasses record $23 trillion

Global Financial Stability Report, October 2019: Lower for Longer

IMF Global Financial Stability Report – Oct 2019 The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market … Read more Global Financial Stability Report, October 2019: Lower for Longer

The World Fiddles While the Economy Burns

Plenty of Blame for What’s Coming President Donald Trump’s trade war gets well-earned blame for the global economy’s slowdown, which keeps deepening, according to new IMF forecasts. But his critics can’t be too smug, their poor leadership could make a global downturn even worse. Take Europe, for example. It still lacks a unified budget or … Read more The World Fiddles While the Economy Burns

The World Economy Is Stumbling Toward Disaster

If a new recession strikes, the Trump administration will get — and deserve — much of the blame. The world’s finance ministers and central-bank governors gathered this past weekend in Washington and looked out at a global economy badly in need of treatment. Most say they understand the dangers, but that seems open to question. … Read more The World Economy Is Stumbling Toward Disaster

Which Is Scarier, Climate Change or CLOs?

Call it the Greta effect. Global finance titans gathered at the annual International Monetary Fund meetings in Washington this week identified climate change as a key risk to the long-term health of the world economy. It was one of the hot topics discussed, perhaps partly inspired by the teenage activist who has made saving the … Read more Which Is Scarier, Climate Change or CLOs?

IMF predicts slowest global economic growth since 2008 financial crisis

The International Monetary Fund is now IMF World Economic Outlook – Oct 2019 global economic growth will slow to its weakest level since the 2008 financial crisis. A sharper-than-expected slowdown in international trade has affected manufacturing and investments, according to the organization’s World Economic Outlook. IMF chief economist Gita Gopinath said the organization estimates that … Read more IMF predicts slowest global economic growth since 2008 financial crisis

FASB votes to delay effective dates for 3 major standards

Effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses (known as CECL), and hedging after a unanimous vote Wednesday by FASB. Under the ASU, effective dates for the lease accounting, hedge accounting, and accounting for credit losses standards will be affected as follows: … Read more FASB votes to delay effective dates for 3 major standards

World Economic Outlook – October 2019

Global Manufacturing Downturn, Rising Trade Barriers Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook. Growth is projected to pick up to 3.4 percent in 2020 (a 0.2 percentage point downward revision compared with April), reflecting primarily … Read more World Economic Outlook – October 2019