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Tag Archives: debt
Fumbling Towards Collapse
Fumbling Towards Collapse In all the smoke and fog emitted by Trump and his adversaries, it must be hard to make out the actual issues dogging this society, and even when you can, to find a coherent position on them. This was nicely illustrated in Paul Krugman’s fatuous column in Monday’s New York Times, “On Economic […]
Not Nearly Enough Growth To Keep Growing
Not Nearly Enough Growth To Keep Growing Jackson Pollock Shooting Star 1947 It’s amusing to see how views start to converge, at the same time that it’s tiresome to see how long that takes. It’s a good thing that more and more people ‘discover’ how and why austerity, especially in Europe, is such a losing and […]
Tsipras Warns IMF, Schauble To “Stop Playing With Fire” Over Greek Debt
Tsipras Warns IMF, Schauble To “Stop Playing With Fire” Over Greek Debt One day after Greek 2Y bond yields tumbled following press reports that for the first time in the latest Greek mini-crisis, the IMF and Eurozone creditors finally agreed on a “common stance” regarding what the Greek fiscal surplus and debt profile would look like, despite […]
Time to Panic in Australia
Time to Panic in Australia Australians’ private debt has soared to 187 per cent of their income. Debt is up from about 70 per cent in the early 1990s. The jobless rate rose for the second straight month in December to 5.8 per cent, and underemployment, the number of workers wanting more hours, is near an […]
What is this ‘Crisis’ of Modernity?
What is this ‘Crisis’ of Modernity? Workmen next to the screws of the RMS Titanic at Belfast shipyard, 1911The people at Conflicts Forum, which is directed by former British diplomat and MI6 ‘ranking figure’ Alastair Crooke, sent me an unpublished article by Alastair and asked if the Automatic Earth would publish it. Since I like his […]
Is It Just A Coincidence That The Dow Has Hit 20,000 At The Same Time The National Debt Is Reaching $20 Trillion?
Is It Just A Coincidence That The Dow Has Hit 20,000 At The Same Time The National Debt Is Reaching $20 Trillion? The Dow Jones Industrial Average provides us with some pretty strong evidence that our “stock market boom” has been fueled by debt. On Wednesday, the Dow crossed the 20,000 mark for the first […]
Foreigners Are Dumping U.S. Debt At A Record Pace And Our $20 Trillion National Debt Is Poised To Become A Major Crisis
Foreigners Are Dumping U.S. Debt At A Record Pace And Our $20 Trillion National Debt Is Poised To Become A Major Crisis While most of the country has been focused on the inauguration of Donald Trump, a very real crisis has been brewing behind the scenes. Foreigners are dumping U.S. debt at a faster rate than […]
These are the Countries with the Biggest Debt Slaves, and Americans Are Only in 10th place
These are the Countries with the Biggest Debt Slaves, and Americans Are Only in 10th place So who the heck are the Really Great Ones? Americans have been on a borrowing binge. To buy their favorite cars and trucks, they’ve loaded up on $1.14 trillion in auto loans. Young and not so young Americans are mortgaging […]
Nomi Prins: Financial Crash From Epic Debt, Asset Bubbles “Possible In Last Quarter 2017”
Nomi Prins: Financial Crash From Epic Debt, Asset Bubbles “Possible In Last Quarter 2017” Could there be a crash coming in 2017? Will increasing interest rates at the Federal Reserve trigger the beginning of the end? It is possible, but not certain. It will fall, perhaps, after a new sense of normal sets in, and […]
Who Exactly Benefits from Italy’s Ballooning Bank Bailout?
Who Exactly Benefits from Italy’s Ballooning Bank Bailout? Italy’s third largest bank, Monte dei Paschi di Siena, is not insolvent, according to the ECB; it just has “serious liquidity issues.” It’s a line that has already been heard a thousand times, in countless tongues, since some of the world’s largest banks became the world’s biggest public […]
As We Enter 2017, Keep The Big Picture In Mind
As We Enter 2017, Keep The Big Picture In Mind The new era of adjustment has only just begun A big, gigantic, heart-felt Thank You! to everyone who supported this website and our activities in 2016! Really. Thank you. We did a lot of great things in 2016 in terms of reaching new audiences and extending our message […]
When Assets (Such as Real Estate) Become Liabilities
When Assets (Such as Real Estate) Become Liabilities December 27, 2016 It will be the middle class that accepted the notion that “real estate is the foundation of family wealth” that will be stripmined by higher taxes on immobile assets such as real estate. Correspondent Joel M. submitted an article that struck me as a […]
Obstacles to Trump’s ‘Growth’ Plans
Obstacles to Trump’s ‘Growth’ Plans Theodor Horydczak “Dome of US Capitol through trees at night” 1943For the second time in a few weeks (see ‘End of Growth’ Sparks Wide Discontent), former British diplomat Alastair Crooke quotes me extensively, and I gladly return the favor. Crooke here attempts to list -some of- the difficulties Donald Trump will face in executing […]
Household Debt Hits $12.4 Trillion As Subprime Loan Delinquencies Hit Highest In 6 Years: NY Fed
Household Debt Hits $12.4 Trillion As Subprime Loan Delinquencies Hit Highest In 6 Years: NY Fed The latest just released Quarterly Report on Household Debt and Credit from the New York Fed showed a small increase in overall debt in the third quarter of 2016, prompted by gains in non-housing debt, and new all time highs in […]
