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A presidential election, summer Olympics, two regional wars, and a stock market reaching all-time highs all contributed to a year we will not soon forget. Here are some other notable statistics from 2024 as defined by their numbers. $ 36.2 Trillion – The national debt as of 12/4. That represents $ 107 Thousand per U.S. citizen or 123% of US GDP.1 $ 7.1 Trillion – Current annual U.S. Federal spending.2 $ 2.1 Trillion – Current U.S. Federal Deficit.3 $ 2.0 Trillion – The amount a proposed advisory committee of the incoming presidentialadministration believes the Federal Budget can be reduced.4 $ 1.0 Trillion – Current yearly interest on the national debt.5 $ 56 Billion – Elon Musk’s twice judicially-denied pay package at Tesla.6 50 Billion – The number of internet users worldwide as of October 2024 which amounted to 67.5 percent of the global population. Of this total, 5.2 billion, or 63.8...
04.05.2023
Following the collapse of Silicon Valley Bank and Signature Bank, banking regulators appeared on Capitol Hill last week. Fed Vice Chair for Supervision Barr and FDIC Chair Gruenberg testified before the Senate Banking and House Financial Services Committees about the recent bank failures. The Federal Deposit Insurance Corporation estimates it will cost $22.5 billion to backstop both Silicon Valley Bank and Signature Bank, guaranteeing all deposits. After the initial shock of these bank failures and the heightened sensitivity around bank holdings, the market rapidly adjusted to the new risks with the quickest monetary tightening in 44 years. Still, banks face several headwinds. First, the yield curve remains inverted—longer-term interest rates are lower than short-term rates. For example, the 10-year Treasury is yielding 3.38%, while the Fed Funds rate is 5%. This inversion is the largest in 42 years. It is generally viewed as a bearish signal for the economy,...
