Modern (Mis)interpretations of Clean Slates
Why were Clean Slates so important to Bronze Age societies? From the third millennium in Mesopotamia, people were aware that debt pressures, if left to accumulate unchecked, would distort normal…
Why were Clean Slates so important to Bronze Age societies? From the third millennium in Mesopotamia, people were aware that debt pressures, if left to accumulate unchecked, would distort normal…
On February 1, 2024, Ukraine secured a €50 billion aid package from the European Union (EU), aimed at bolstering its defense capabilities and facilitating the country’s reconstruction. Dozens of other…
A Bloomberg report said this week: U.S. interest payments on its national debt are estimated to have surged above $1 trillion on an annualized basis as of the end of…
The global debt increased by $8.3 trillion in the first quarter of the year to a near-record high of $305 trillion amid an aggressive tightening of monetary policy by central…
High levels of global debt are likely to turn what could be a controllable shift from expansion to contraction into a blowout of unfulfilled expectations and obligations, leading to widespread…
As rich countries switch on their firefighting mode to tame soaring inflation, developing countries are feeling the heat. Higher interest rates mean increased debt servicing costs. Hawkish interest rate hikes…
The International Debt Statistics (2022) published by the World Bank has revealed that the external debt of 123 low- and middle-income countries have increased on average 5.6 percent to $8.7…
The global debt has jumped to a new high of $226 trillion, said the International Monetary Fund (IMF) on October 13, 2021. As reason of this leap in global debt, the IMF has cited…
For decades the politicians have refused to tax the rich, the corporations and the banks. They choose instead to borrow to run the government. They borrow money from the rich,…
Our economy is a mystery to almost everyone, including economists. Let me explain the way I see the situation: (1) The big thing that pulls the economy forward is the…
We have been hearing a great deal about IMF concerns recently, after the release of itsOctober 2016 World Economic Outlook and its Annual Meeting October 7-9. The concerns mentioned include the…
Eight years after the eruption of the global financial crisis, the conditions are being created for another meltdown of even bigger proportions, amid rising geo-political and economic tensions between the…
Usually, we don’t stop to think about how the whole economy works together. A major reason is that we have been lacking data to see long-term relationships. In this post,…
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