House Democrats warned that, without oversight, the digital currency could quickly become "too big to fail.”
A weaker global economy, a trade war with China and signs of caution among consumers likely contributed to slow growth.
The comments come the day after Trump warned of "severe punishment."
A decade on from the Lehman collapse, and things need to change.
If this is the direction globalization is taking the world, it is worth examining where America is headed.
“It is a leap into the unknown,” one British economist said.
For 200 years, there have been two schools of thought about what determines the distribution of income -- and how the economy functions. It is important to understand both, because our views about government policies and existing inequalities are shaped by which of the two schools of thought one believes provides a better description of reality.
Trump and jihadi terrorism both ranked sixth on a recent list of the 10 biggest threats to the world's economy.
June 23 Britons will decide whether to stay in the EU or to quit, a referendum that could have momentous consequences for a divided UK and for the rest of Europe, a move that is being watched by every nation in the world as evidence that globalization has stalled.
To be fair, they are trying. But the old weapons don't seem to work anymore. Central banks, especially in rich countries
Developing countries are bracing for a major slowdown this year. According to a UN report, their growth averaged only 3.8 percent in 2015 -- the lowest rate since the global financial crisis in 2009 and matched in this century only by the recessionary year of 2001. And what is important to bear in mind is that the slowdown in China and the deep recessions in the Russian Federation and Brazil only explain part of the broad falloff in growth.
BEIJING -- The coming crash of the Chinese economy has reemerged as a popular view in the global media. The reason for such a prediction this time is the persistent deceleration of China's growth after 2010. The growth rate dropped from 10.6 percent in 2010 to 7.3 percent in 2014 and further down to 6.9 percent in 2015, which is the lowest record in 25 years. It is the first time that China has experienced such an extended period of deceleration after the transition to a market economy in 1979.
What is now happening is that people are selling off Chinese assets and investing instead in (primarily) American assets -- including stocks but especially real estate. As momentum in these flows builds up, China faces the prospect of full-on meltdowns in its stock and real estate markets, just as occurred here in the U.S. in the late 1920s and post-2008 -- only worse.
The only cure for the world's malaise is an increase in aggregate demand. Far-reaching redistribution of income would help, as would deep reform of our financial system -- not just to prevent it from imposing harm on the rest of us, but also to get banks and other financial institutions to do what they are supposed to do: match long-term savings to long-term investment needs.