The US “is in the midst of an innovation revolution” while also carrying a very large debt burden, but it is the “average household” that gets hurt, says Mohamed El-Erian, one of the world’s most respected bond-market experts and chief economic adviser at Allianz.
August 22, 2026
Trump's Put a 'Bandaid on a Bullet Hole' | Bond Expert Explains US Debt
Aug 22, 2026 | “We need higher growth and some kind of fiscal reform.”
The US “is in the midst of an innovation revolution” while also carrying a very large debt burden, but it is the “average household” that gets hurt, says Mohamed El-Erian, one of the world’s most respected bond-market experts and chief economic adviser at Allianz.
The US “is in the midst of an innovation revolution” while also carrying a very large debt burden, but it is the “average household” that gets hurt, says Mohamed El-Erian, one of the world’s most respected bond-market experts and chief economic adviser at Allianz.
Canada-U.S. Trade War Escalates as Talks Collapse
THE NEW YORK TIMES: Intense negotiations to stave off new levies by the Trump administration ended in an impasse as Mark Carney suspended talks. U.S. tariffs on Canada, and retaliatory tariffs on the U.S., will come into effect.
Screenshot taken from this NYT article. | Prime Minister Mark Carney of Canada said he suspended the trade talks because the American side introduced last-minute terms that ”called into question the reliability of any deal.” Credit: Greg Locke/Reuters
Crucial trade talks between the United States and Canada to stave off punishing new tariffs by the Trump administration on Canadian goods collapsed late Friday, with Canada saying it would retaliate “dollar for dollar.”
Prime Minister Mark Carney of Canada said he had decided to suspend the talks because the American side had introduced last-minute terms that were “unfair, uneconomic, and called into question the reliability of any deal.”
He added that the talks, which had been going on for weeks and had intensified in the past few days, had marked important progress but had ultimately “not been enough to meet our objectives for Canadians.”
United States Trade Representative Jamieson Greer told reporters that Canada had walked away from the negotiating table, minutes before a deadline ushering in new 50 percent tariffs by the Trump administration on a broad range of Canadian goods. » | Matina Stevis-Gridneff, Ian Austen and Ana Swanson | Matina Stevis-Gridneff reported from Toronto and Ian Austen from Ottawa. Ana Swanson reported from Washington | Published: Friday, August 21, 2016. Updated: Saturday, August 22, 2026
ALSO READ:
Carney Stands Up to Trump in Trade War Despite the Risks: Canada’s prime minister walked away from what he thought was a bad trade deal with the United States. Many Canadians are behind him, but it will be costly. »
Crucial trade talks between the United States and Canada to stave off punishing new tariffs by the Trump administration on Canadian goods collapsed late Friday, with Canada saying it would retaliate “dollar for dollar.”
Prime Minister Mark Carney of Canada said he had decided to suspend the talks because the American side had introduced last-minute terms that were “unfair, uneconomic, and called into question the reliability of any deal.”
He added that the talks, which had been going on for weeks and had intensified in the past few days, had marked important progress but had ultimately “not been enough to meet our objectives for Canadians.”
United States Trade Representative Jamieson Greer told reporters that Canada had walked away from the negotiating table, minutes before a deadline ushering in new 50 percent tariffs by the Trump administration on a broad range of Canadian goods. » | Matina Stevis-Gridneff, Ian Austen and Ana Swanson | Matina Stevis-Gridneff reported from Toronto and Ian Austen from Ottawa. Ana Swanson reported from Washington | Published: Friday, August 21, 2016. Updated: Saturday, August 22, 2026
ALSO READ:
Carney Stands Up to Trump in Trade War Despite the Risks: Canada’s prime minister walked away from what he thought was a bad trade deal with the United States. Many Canadians are behind him, but it will be costly. »
August 21, 2026
Professor Marandi: Iran Will Outweigh the United States
Aug 21, 2026 | On Thursday's episode of The Grand Standoff: Iran and the World, Professor Mohammad Marandi warned that Western economic warfare against Iranian civilians will yield direct consequences for regional regimes aligning with the United States.
Marandi emphasizes that if Western sanctions seek to choke off Iranian commerce, Tehran will apply reciprocal pressure to US assets and host nations across the region. Marandi further questioned the long-term viability of regimes that have sacrificed their stability to enable American policy, asserting that Iran possesses the endurance and strategic depth to outlast Washington’s siege tactics.
Marandi emphasizes that if Western sanctions seek to choke off Iranian commerce, Tehran will apply reciprocal pressure to US assets and host nations across the region. Marandi further questioned the long-term viability of regimes that have sacrificed their stability to enable American policy, asserting that Iran possesses the endurance and strategic depth to outlast Washington’s siege tactics.
How the US Is Using Iran’s Economy to Fight the War in the Middle East | BBC News
Aug 21, 2026 | US Vice President JD Vance says the Iran War is in a ‘new phase’ of economic pressure.
It comes as US Treasury Secretary Scott Bessent has said: “You are either with us or against us," as he urged US allies to support Washington's efforts to "squash" the Iranian economy.
But the Iranian Foreign Ministry has called the measures ‘economic terrorism’. The BBC has also heard from people inside Iran on what life is like for them.
It comes as US Treasury Secretary Scott Bessent has said: “You are either with us or against us," as he urged US allies to support Washington's efforts to "squash" the Iranian economy.
But the Iranian Foreign Ministry has called the measures ‘economic terrorism’. The BBC has also heard from people inside Iran on what life is like for them.
Was Clacton Fiasco Beginning of the End for Farage and Reform?
August 21, 2026 | Farage has gone missing since the Clacton by-election — and the party he built is falling apart around him.
I wasn't going to talk about Farage this week, but after the Clacton by-election he's done a disappearing act and Reform UK appears to be in complete meltdown.
n this video I look at why calling that by-election was the first major unforced error of Farage's career — the moment he realised he'd made a classic mistake and went to ground.
From the poll slump (27% down to 24%) to the pressers from Richard Tice and Bob Jenrick, the £50 billion benefit cut plan, and the long list of scandals and fallings-out — the £5 million gift, the tax investigations, the convictions — this is a party beginning to look like a complete rabble.
I also ask the bigger question: Is this finally it for the man who brought us Brexit? …
I wasn't going to talk about Farage this week, but after the Clacton by-election he's done a disappearing act and Reform UK appears to be in complete meltdown.
n this video I look at why calling that by-election was the first major unforced error of Farage's career — the moment he realised he'd made a classic mistake and went to ground.
From the poll slump (27% down to 24%) to the pressers from Richard Tice and Bob Jenrick, the £50 billion benefit cut plan, and the long list of scandals and fallings-out — the £5 million gift, the tax investigations, the convictions — this is a party beginning to look like a complete rabble.
I also ask the bigger question: Is this finally it for the man who brought us Brexit? …
$40 Trillion 'Time Bomb’': Is Trump about to Break the Global Economy?
Aug 21, 2026 | Is Donald Trump driving the world economy off a cliff while you’re on your summer holiday?
America has just passed $40 trillion of debt. Trump’s tariffs are pushing up prices, his tax cuts are adding to the deficit, and his war with Iran has sent oil prices soaring. Now bond markets are turning on him. The US treasury has tried to step in and calm the bond markets, but it doesn’t appear to have worked. So what exactly is going on?
Is this just a wobble in the bond markets - or a sign of something much worse to come?
On this episode of The Fourcast, Ciaran Jenkins is joined by Pippa Malmgren, who served as an economic adviser to President George W. Bush, and The Economist’s economics editor Archie Hall.
America has just passed $40 trillion of debt. Trump’s tariffs are pushing up prices, his tax cuts are adding to the deficit, and his war with Iran has sent oil prices soaring. Now bond markets are turning on him. The US treasury has tried to step in and calm the bond markets, but it doesn’t appear to have worked. So what exactly is going on?
Is this just a wobble in the bond markets - or a sign of something much worse to come?
On this episode of The Fourcast, Ciaran Jenkins is joined by Pippa Malmgren, who served as an economic adviser to President George W. Bush, and The Economist’s economics editor Archie Hall.
Warum ist Nordkorea plötzlich so reich? | Rüdiger Frank
Aug 21, 2026 | Wir sprechen mit dem Nordkorea Experten Rüdiger Frank über den beispiellosen Wirtschaftsboom, den Nordkorea gerade erlebt.
Nordkorea erlebt gerade einen Wirtschaftsboom? Also jenes Land, das wie der Fiebertraum sozialistischer Diktaturen wirkt, in dem Menschen hungern und regelmäßig in gigantischen Paraden ihrem Führer huldigen müssen? Es klingt absurd, aber die Anzeichen für einen Aufschwung häufen sich. Neue Stadtviertel und Luxusresorts entstehen dort, wo bis vor einigen Jahren noch gar nichts war. Wir schauen uns heute an, was hinter diesen Schlagzeilen steckt und sprechen mit dem renommierten Korea-Experten Rüdiger Frank von der Universität Wien.
Und wenn ich mich nicht irre, ist genau dieser Wirtschaftsboom der Hauptgrund dafür, dass Donald Trump Kim Jong Un schmeichelt! Trump will mindestens einen „Trump Tower“ in Nordkorea errichten lassen. Wahrscheinlich sogar noch viel mehr. Trump sieht in Nordkorea Dollarzeichen! — G Mark Alexander
Nordkorea erlebt gerade einen Wirtschaftsboom? Also jenes Land, das wie der Fiebertraum sozialistischer Diktaturen wirkt, in dem Menschen hungern und regelmäßig in gigantischen Paraden ihrem Führer huldigen müssen? Es klingt absurd, aber die Anzeichen für einen Aufschwung häufen sich. Neue Stadtviertel und Luxusresorts entstehen dort, wo bis vor einigen Jahren noch gar nichts war. Wir schauen uns heute an, was hinter diesen Schlagzeilen steckt und sprechen mit dem renommierten Korea-Experten Rüdiger Frank von der Universität Wien.
Und wenn ich mich nicht irre, ist genau dieser Wirtschaftsboom der Hauptgrund dafür, dass Donald Trump Kim Jong Un schmeichelt! Trump will mindestens einen „Trump Tower“ in Nordkorea errichten lassen. Wahrscheinlich sogar noch viel mehr. Trump sieht in Nordkorea Dollarzeichen! — G Mark Alexander
Trump Has Put the US In a ‘Vicious Cycle’ as Debt Hits $40 Trillion
Aug 21, 2026 | “The deficit is only likely to increase.”
Republicans are “squealing” about America’s debt, which has just hit $40 trillion, but nobody in MAGA wants to “stand up to Trump” and do something about it, says director of the Marie Colvin Center for International Reporting, Sarah Baxter.
Republicans are “squealing” about America’s debt, which has just hit $40 trillion, but nobody in MAGA wants to “stand up to Trump” and do something about it, says director of the Marie Colvin Center for International Reporting, Sarah Baxter.
August 20, 2026
China Evergrande Founder Hui Ka Yan Sentenced to Life in Prison for Financial Crimes
ALSO READ:
China Sentences Evergrande Founder to Life in Prison: Hui Ka Yan’s punishment caps the downfall of a property empire whose collapse set off a prolonged crisis in the Chinese economy. »
Trump’s Approach to Foreign Policy Is Upending Traditional Alliances, Institutions and Norms
Australian Tells Americans Why They’re Hated by the Rest of the World in Fiery Rant
Very strong language alert!
I have said it before and I will say it again: Trump is TRASH. So what does that say about the Americans who re-elected him into office? I’ll let you decide. — © Mark Alexander
U.S. Debt Hits $40 Trillion as America’s Borrowing Binge Continues
THE NEW YORK TIMES: President Trump’s promises to restore fiscal order and reduce the amount of America’s debt burden have been undercut by spending on the Iran war, tax cuts and tariff refunds.
America’s gross national debt topped $40 trillion for the first time on Wednesday, an ominous milestone for an economy that sits on a shaky fiscal foundation after decades of borrowing to pay for the rising costs of the military, social safety net programs and President Trump’s tax cuts.
This year alone, the United States is on track to borrow more than $2 trillion to help pay for its obligations, including spending on the war in Iran and the sweeping tax cuts that Republicans enacted in 2025. Soaring interest payments to investors who have purchased America’s debt now make up about half of that red ink, pushing the United States into a deeper financial hole.
Whether the mounting debt load is a problem to be solved or a function of America’s economic strength remains a matter of debate. Deficits are also a point of political gamesmanship, with Republicans most passionate about eliminating them when they are out of power.
“The scariest thing about this is how we’re starting to see the debt spiral begin,” said Marc Goldwein, senior policy director for the Committee for a Responsible Federal Budget, which supports deficit reduction, referring to interest on the debt.
The inability of lawmakers to confront the debt comes with long-term risks. While the United States remains the world’s largest economy, its mounting debt load could lead investors to demand higher interest rates for U.S. bonds or raise questions about the nation’s creditworthiness, which could erode confidence in the dollar as the world’s reserve currency. » | Alan Rappeport | Reporting from Washington | Wednesday, August 19, 2026
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America’s gross national debt topped $40 trillion for the first time on Wednesday, an ominous milestone for an economy that sits on a shaky fiscal foundation after decades of borrowing to pay for the rising costs of the military, social safety net programs and President Trump’s tax cuts.
This year alone, the United States is on track to borrow more than $2 trillion to help pay for its obligations, including spending on the war in Iran and the sweeping tax cuts that Republicans enacted in 2025. Soaring interest payments to investors who have purchased America’s debt now make up about half of that red ink, pushing the United States into a deeper financial hole.
Whether the mounting debt load is a problem to be solved or a function of America’s economic strength remains a matter of debate. Deficits are also a point of political gamesmanship, with Republicans most passionate about eliminating them when they are out of power.
“The scariest thing about this is how we’re starting to see the debt spiral begin,” said Marc Goldwein, senior policy director for the Committee for a Responsible Federal Budget, which supports deficit reduction, referring to interest on the debt.
The inability of lawmakers to confront the debt comes with long-term risks. While the United States remains the world’s largest economy, its mounting debt load could lead investors to demand higher interest rates for U.S. bonds or raise questions about the nation’s creditworthiness, which could erode confidence in the dollar as the world’s reserve currency. » | Alan Rappeport | Reporting from Washington | Wednesday, August 19, 2026
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August 19, 2026
UAE Accuses Iran of Ballistic Missile Attacks | The Palki Sharma Show | IGR | India Global Review
Andy Burnham Offers Beds for Homeless for Christmas in National Drive to End Rough Sleeping
August 19, 2026 | Andy Burnham has declared ending rough sleeping his moral mission as he announces a national drive to give everyone on the streets an offer of a bed this winter.
The new Prime Minister said the scheme will "get everyone in for Christmas" with emergency accommodation and help rolled out in England later this year.
Downing Street said under the support - backed by £442million - areas with the greatest need will receive the largest share in order to get people out of the cold in winter.
Mr Burnham will also convene a "first of its kind" national summit in the autumn months on ending rough sleeping, officials added. They said it would bring together leaders from business, finance, health and faith communities to ask how they can all play a role.
The new Prime Minister said the scheme will "get everyone in for Christmas" with emergency accommodation and help rolled out in England later this year.
Downing Street said under the support - backed by £442million - areas with the greatest need will receive the largest share in order to get people out of the cold in winter.
Mr Burnham will also convene a "first of its kind" national summit in the autumn months on ending rough sleeping, officials added. They said it would bring together leaders from business, finance, health and faith communities to ask how they can all play a role.
Geneva Super-rich Rocked by Luxury Home Burglary Spree
SWI: The Lake Geneva region is fighting a growing number of violent home robberies of its wealthiest residents, which threaten the area’s reputation as a haven for the ultra-rich and have inflamed suspicions across the border with France.
Swiss authorities are turning to video footage, number-plate recognition and tougher border policing as they try to crack down on the “homejackings”, which have shocked the normally peaceful area.
The attacks typically involve intruders breaking into occupied homes and threatening residents – sometimes at gunpoint – before escaping with watches, jewellery and other valuables across the border to France.
Private bankers, commodities traders and other wealthy executives are among those who have been targeted, fuelling concern in a region that is home to some of the world’s biggest banks and trading houses. Companies including Pictet and Trafigura have raised concerns about the attacks with authorities, according to people familiar with the discussions.
The extreme violence of the attacks has prompted some politicians to call for targeted checks at the French border and prompted many wealthy communities to hire private security.
“This trend has recently become much more organised, targeted and common,” said Florence Bettschart-Narbel, a member of the legislature in the canton of Vaud, on the north side of Lake Geneva. “We are concerned about the impact on Switzerland’s attractiveness to foreigners and companies.” » | Mercedes Ruehl, Financial Times | Monday, August 17, 2026
Copyright The Financial Times Limited 2026
ALSO READ:
Switzerland’s super-rich: essential contributors or a social threat?: Switzerland is one of the wealthiest countries in the world. However, its wealth is distributed very unevenly: the richest 1% own 45% of total assets. At the same time, this elite group contributes a significant share of the country’s tax revenue. Swiss public broadcaster, SRF, takes a closer look. »
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