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Tag Archives: debt
Atlas Shrugged for Real: Republicans Seek an Economic Shutdown to Achieve Their Agenda
The Atlas Shrugged Party looks like it’s barreling full-tilt to an economic shutdown–an Atlas Shrugged scenario for real–in a couple of weeks, and here’s Jon Favreau’s advice to President Obama: [A] failure to raise the debt limit would inflict far more … Continue reading
Posted in Uncategorized
Tagged America, debt, deficit, economy, Obama, Red State, Republicans
3 Comments
Entered Emory, Fell Out of Emory, $60,000 in Debt
A cautionary tale of students from lumpen proletariat American families (families that sell their labor but have no assets to speak of) in the New York Times recently: Angelica Gonzales marched through high school in Goth armor — black boots, chains … Continue reading
The Next Financial Cliff
Troubling. Disconcerting.
Inflate the Debt Away: Why Are Italian Interest Rates Climbing?
Italian interest rates are climbing because it’s feared that, should Greece leave the euro, Italy might follow suit, making the value of Italian bonds held by investors zero. That’s right, zero. Wolfgang Munchau at Spiegel Online explains: If Greece leaves … Continue reading
Posted in Uncategorized
Tagged debt, debt crisis, europe, Greece, inflation, Italy, spain
4 Comments
Global Debt Slavery Watch: Economic Anthropologist David Graeber Thinks Slavery and Debt Slavery May Be a Distinction Without Much of a Difference
At Naked Capitalism, Dublin-based journalist Philip Pilkington asks economic anthropologist David Graeber an intriguing question: We know that in many Western countries over the past few years households have been running up enormous debts, from credit card debts to mortgages … Continue reading
Posted in Uncategorized
Tagged class warfare, david graeber, debt, debt forgiveness, economics, globalism, jubilee, materialism, mind, philosophy, social psychology
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The Debt Crisis: Niall Ferguson Said It Would Come To This
Harvard historian Niall Ferguson, back in November of 2009, wrote the following for Newsweek: History strongly supports the proposition that major financial crises are followed by major fiscal crises. . . . This is how empires decline. It begins with a debt … Continue reading
Posted in Uncategorized
Tagged America, debt, debt crisis, economy, emperialism, fiscal crisis, government, niall ferguson, rush limbaugh, tea partiers
1 Comment
Can You Balance California’s Budget? Here’s a Link to a Calculator Where You Can Try.
Here’s a link to the Los Angeles Times’ balanced budget calculator. It’s there that you can imagine yourself wielding the budget ax, raising taxes, or doing some combination of the two to bring California’s $28 billion deficit over the next 18 months … Continue reading
Posted in Uncategorized
Tagged budget cutting, California, debt, economics, friedman, jobs, keynes, recession
4 Comments
California is Spain: A Debt Crisis Looms for the Golden State
This is front page news in the New York Times today, and, as a California resident, it’s alarming: [M]any state and local governments have so much debt — several trillion dollars’ worth, with much of it off the books and largely … Continue reading
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Tagged America, California, debt, debt crisis, economics, economy, gold, Great Depression 2.0, illinois, jerry brown, new jersey, Sarah Palin
3 Comments
For Whom the Bell Tolls: Is Spain Too Big to Fail? Are We?
The following was in the New York Times on the day before Thanksgiving, 2010. It describes with stark clarity the vicious debt whirlpool that Spain is in the grips of. I wonder what Paul Krugman would say about this. I suppose that, someday, the United States could find … Continue reading
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Tagged America, bond markets, debt, europe, globalism, islands, john donne, spain, the economy
1 Comment
While you were sleeping, Europe’s Greece crisis was deepening
This at the UK’s Guardian: “The crisis in Greece could pose as big a risk to the global economy and financial markets as the collapse of Lehman Brothers did in September 2008”, said Julian Jessop, of Capital Economics. He added: … Continue reading
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Tagged debt, economics, global economy, gold, Great Depression 2.0, niall ferguson, panic, recession, silver
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Obama Boxed In?
William Greider, of the Nation, paints today the bleakest economic picture that I’ve seen, suggesting that Obama’s stimulus package of 800 billion dollars is too small by at least HALF. He also suggests that Obama will need to nationalize the … Continue reading
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Tagged China, debt, economy, Great Depression, Great Depression 2.0, Hugh Hewitt, Politics, rush limbaugh, Sean Hannity, wall street, william greider
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