Economy Archives - Worthy Christian News

China Tightens Grip on Rare Earth Exports, Escalating Economic Showdown with U.S.

October 9, 2025

China has unveiled sweeping new export restrictions on rare-earth materials and related technologies — a move analysts describe as a near-unprecedented escalation in its economic confrontation with the United States. The rules, announced Thursday by China’s Commerce Ministry, could disrupt global supply chains for critical technologies, from semiconductors and solar panels to electric vehicles and advanced weapons systems.

Federal Deficit Reaches $1.8 Trillion as U.S. Interest Payments Top $1 Trillion for First Time

October 8, 2025

The U.S. federal government ended fiscal year 2025 with a $1.8 trillion budget deficit, according to estimates released Wednesday by the Congressional Budget Office (CBO)–a figure only marginally smaller than last year’s record shortfall, even as tariff revenue surged under President Donald Trump’s trade policies.

Gold Hits Record $4,000 as Investors Flee to Safe Havens Amid U.S. Economic Uncertainty

October 8, 2025

Gold surged to an unprecedented $4,000 a troy ounce on Tuesday, marking a milestone that underscores growing investor unease about the U.S. economy and the global financial order.

Moldova: ‘Russia Seeks Overthrow Government’

February 16, 2023February 16, 2023

Moldova’s president says Russia is plotting to overthrow the country’s pro-European Union government after a Russian missile violated the country’s airspace.

One-third of world economy expected to be in recession in 2023, says IMF chief

January 2, 2023

This year is going to be tougher on the global economy than 2022, the International Monetary Fund’s chief, Kristalina Georgieva, has warned.

U.S. sees major housing price correction, nearly the largest since World War II

January 2, 2023

The United States is seeing a major price correction in its housing market, with analysts calling it very nearly the largest such shift since the end of World War II roughly 80 years ago.

Fed hikes interest rate by half a percentage point, with benchmark rate projected to top out at 5.25%

December 14, 2022

The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point and signaled more tightening next year as it continues to battle high inflation, a fight that’s expected to slow the economy and raise unemployment.

Hungary Delaying NATO Expansion Seeks Israel’s Defense

November 28, 2022

Hungary’s controversial prime minister says his country will only consider ratifying NATO military alliance membership of Finland and Sweden next year.

Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers

November 20, 2022

Existing home sales in the United States fell for the ninth straight month in October as higher mortgage rates kept buyers out of the housing market.

Credit Card Debt Jumps to Two-Decade High as U.S. Economy Tumbles

November 16, 2022

Americans are running up credit card debt at historic levels as they struggle with soaring inflation.

Bulgaria To Provide Military Aid To Ukraine

November 3, 2022

Bulgaria, once labeled the “sixteenth republic” of the Soviet empire for its obedient allegiance to Moscow, should send military aid to Ukraine, the parliament decided Thursday.

President Biden Pushing ‘New World Order’; Critics Worried (Worthy News Analysis – Video)

October 26, 2022

U.S. President Joe Biden has come under pressure ahead of mid-term elections for saying there is “going to be a new world order” that the United States must lead.

China Christians Worried After President Xi’s Re-Election

October 24, 2022

Christians in Communist-run China faced potentially more difficulties Monday after China’s Communist Party on Sunday formally reelected Xi Jinping, the party’s general secretary, for another five years.

US Deficit Soars Thanks to Biden’s Student Debt Forgiveness

October 23, 2022

The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.

US Home Sales Fall for Eighth Straight Month

October 20, 2022

U.S. existing home sales dropped for an eighth straight month in September as surging mortgage rates and still-elevated selling prices push affordability beyond the reach of many prospective buyers.

Pastors Reveal Troubled US Economy Is Having Negative Impact on Churches

October 13, 2022

While some churches across the country are shaking off the financial effects of the COVID-19 pandemic, a new survey of pastors reveals the troubled economy is now having an adverse financial effect on their churches as well.

Egypt to take over development of Gaza’s off-shore gas field

October 13, 2022

There are plans in the making for Egypt to take over the development of Gaza’s offshore natural gas field, a move that would stimulate the weak Palestinian economy, i24 News reports. The Gaza Marine field is believed to hold over 1 trillion cubic feet of natural gas, well over what is needed to supply Palestinian territories, and could therefore be a potentially lucrative source of export.

Mortgage Interest Rates Rise To Highest Level Since 2006

October 12, 2022

The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.

Democrats go all-in on abortion in final ad blitz, GOP focuses on economy

October 11, 2022

Republicans are laser-focused on the economy in ads blanketing the airwaves before the midterm elections, while Democrats are sounding the alarm on abortion access as early voting gets underway in many states.

IMF: “worst is yet to come” in global economy

October 11, 2022

The International Monetary Fund (IMF) has forecast the “worst is yet to come” economically as it predicts a third of the global economy will contract in 2023, facing two consecutive quarters of negative growth, Sky News reports. The IMF made its predictions in its latest World Economic Outlook report.