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 banks, the Institute of International Finance (IIF) has revealed. According to its quarterly Global Debt Monitor (GDM) report on Wednesday, the reading is the highest since the first quarter of[Read More…]
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 suffering. An enormous debt bomb threatens the U.S. federal government and the nation’s financial system unless warring politicians can agree on a plan to defuse it. However, there are even[Read More…]
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 are also triggering net capital outflows and currency depreciations, adding to the woes caused by commodity price volatilities and US-led trade disruptions. Thus, an increasing number of developing countries are[Read More…]
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 trillion in 2020. It shows devastating impact of the pandemic on economy of the developing countries. The G20 creditors have designed a policy framework called the Debt Service Suspension Initiative[Read More…]
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 the Covid-19 and policies put in place to respond to it. Global debt in 2020, including public and private borrowing, “jumped by 14 percent to a record high $226 trillion,”[Read More…]
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, whom they refused to tax, and then pay them interest. Politicians keep telling us that the national debt is too high; they say we can’t afford to spend money on[Read More…]
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 time-shifting nature of debt and debt-like instruments. If we want any kind of specialization, we need some sort of long-term obligation that will make that specialization worthwhile. If one hunter-gatherer[Read More…]
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 following: Too much growth in debt, with China particularly mentioned as a problem World economic growth seems to have slowed on a long-term basis Central bank intervention required to produce[Read More…]
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 major capitalist powers. This is the implication of three reports issued by the International Monetary Fund in preparation for its annual meeting, which begins in Washington today. The World Economic[Read More…]
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, I show some longer-term time series relating to energy growth, GDP growth, and debt growth–going back to 1820 in some cases–that help us understand our situation better. When examining these[Read More…]
Indigenous Australians & Palestinians: Treaty, Truth, Voice, Referendum & Senator Lidia Thorpe 
Kya Sharmsaar hai hindustan……are wrestling champions of India going the Mohammed Ali way? 
Legislative Gaps Helping Overseas Shell Companies? 
Book Review: Marginalised but not Defeated 
When Will US Join Global Call to End Ukraine War? 
AUKUS, Congress and Cold Feet 
The Wars We Don’t (Care to) See – Aggression Made Easy 
Raising the Palestinian flag in Daley Plaza Center, Chicago: A powerful symbolic gesture 
Shocking Lack of Concern for World’s Safety by War Mongering Elite 
Has Hindutva been defeated in Karnataka? 
UN Agencies Warn ‘Acute Food Insecurity’ Likely to Worsen in 18 Hunger Hot Spots 
Meta and Privacy: The Economy of Data Transgressions 
A Response to The New York Times’ Ritualistic Denunciation of Mao’s Cultural Revolution… 
GM Crops Likely to Worsen Climate Change Related Problems for Farmers 
Symbolism of Sengol 
Forget GDP growth, it’s sustainable wellbeing we need to aim for 
Supremes Declare War on Wetlands 
Kings Coronation, Victory Day Parade and Perverse Values 
A critical approach to the exploration of Identity & Violence: An attempt by the young researchers of EDRU 
Delay in Census enumeration, unreliable death registration and fake Aadhaar cards adversely impact integrity of elections, leads to misuse of public funds 
Special Significance of the Next Decade in Human History, and a Campaign Linked to This 
Prophets of Doom: Kissinger and the ‘Intellectual’ Decline of the West 
“Free Trade” as Revealed in the China-United States Paradigm 
Memorialize USA Lies About Each Mistaken Undeclared War Americans Remembered Today Gave Their Lives 
Tipu Sultan: Fallacies and Facts around the Historical Figure in India 
The intertwined history of caste and census in India 
A Tale of Two Indias 
Dismantle the structures of sexual violence, NOT the protesters’ tent! 
CDRO condemns the manhandling of the protesting wrestlers 
From Deathly Silence to Violence: The journey of Wrestlers struggling for Justice 
Workers Protests break out in China 
Now I Am Ravana’s Head 
Noam Chomsky on Why This Is the Most Dangerous Point in Human History 
HAK Birthdays: Henry Kissinger Turns 100 
Brotherhood and Friendship in a time of War- Reflections on The Mercenary, by Jeffrey E. Stern 
Weaknesses of the National Security Strategy 2022 – Part 8: The NSS falsely claims that Russia and Putin have malicious goals and spurn negotiation 
What role did trade unions play in the struggle for independence in Kenya? 
A Timely Warning on Avoiding the Indo-Pacific Economic Framework that Deserves Wide Attention 
Tinsel Gods 
Kirti Kisan Union conducts massive rally in Moga on issue of Canal Water 
Our beloved K.P.Sasi is no more. Filmmaker, cartoonist, writer, mentor, friend and above all tireless activist championing the cause of every underdog, Sasi breathed his last, mid-afternoon this Christmas day – after battling a medical condition for months. I remember the last time I met him, almost exactly a month before he passed away, at the ayurvedic healing center in[Read More…]
