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Olduvai III: Catacylsm
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No Payment, No Problem: Bizarre New World of Consumer Debt

No Payment, No Problem: Bizarre New World of Consumer Debt All kinds of weird records are being broken. But it’s scheduled to expire, and then what? The New York Fed released a doozie of a household credit report. It summarized what individual lenders have been reporting about their own practices: If you can’t make the […]

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Why we need to lie to ourselves about the state of the economy

Why we need to lie to ourselves about the state of the economy Since 2007, global debt has grown by US$57 trillion, or 17 per cent of the world’s gross domestic product. Photo: Louie Douvis Like the characters in Samuel Beckett’s Waiting for Godot, the world awaits the return of wealth and prosperity. But the global economy […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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