The world has been left stunned by a series of events that have recently unfolded in the West: the United States’ credit rating has been downgraded for the first time ever; the sovereign debt crisis…
Tag: debt
2,181 Italians pack a Sports Arena to learn Modern Monetary Theory: The Economy doesn’t Need to suffer Neoliberal Austerity Michael Hudson I have just returned from Rimini, Italy, where I experienced one of the most…
In an article titled “Still No End to ‘Too Big to Fail,’” William Greider wrote in The Nation on February 15th: Financial market cynics have assumed all along that Dodd-Frank did not end “too big…
At a conference in Philadelphia earlier this month, a Wharton professor noted that one of the country’s biggest economic problems is a tsunami of misinformation. You can’t have a rational debate when facts are so…
There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further…
(Reuters) – Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from…
The creation of the euro zone may have given participants one currency, but it created other problems as well. One interest rate was supposed to fit all. Those sovereigns on the financial periphery of the…
Remember when the US hiked its debt ceiling on Friday courtesy of a formulaic 52 affirmative votes in the Senate, giving the Treasury $1.2 trillion in dry debt powder to attempt to grow the economy one…
We are trying to figure out the best way to describe the banking and oil sanctions against Iran, which are blatant acts of war. Just look back in history at similar situations and you will…
If the entire financial system does not come down upon our heads and if we do not have another war, global growth is going nowhere in the year’s ahead. We had a mini-recovery, but it…