Simon Jenkins: George Osborne should abandon the tribal morality of austerity and, like Japan, print money not for banks but for people Original post on guardian.co.uk Comments on reddit.com
From Yahoo! News: By Edward Krudy NEW YORK (Reuters) – When Thomas Herndon, a student at the University of Massachusetts Amherst’s doctoral program in economics, spotted possible errors made by two eminent Harvard economists in an influential research paper, he called his girlfriend over for a second look. As they poured over the spreadsheets Herndon had requested from Harvard’s Carmen Reinhart and Kenneth Rogoff, which formed the basis for a widely quoted 2010 study, they spotted what they believed were glaring errors…. Original post on yahoo.com Comments on reddit.com
(Phys.org) —Required reading for those examining the cause and effect of bread lines: Two papers, one published in 2010 and the other published just this month, poking holes into the 2010 study and inciting a global wave of publicity. The 2010 paper, by Harvard economists Carmen Reinhart and Kenneth… Original post on phys.org Comments on reddit.com
British water companies are avoiding millions of pounds in tax by loading themselves up with debt listed on an offshore stock exchange, an investigation has revealed. Original post on independent.co.uk Comments on reddit.com
The economy is slowly hobbling back to health, but for many Americans the rainy day fund is still looking a little dry and the credit card bill is still looking a little scary. About 24 percent of Americans have more credit card debt than emergency savings, according to an annua … Original post on today.com Comments on reddit.com
This is worth repeating: We’re not having a debt crisis. What we’re having is a political crisis. Original post on nytimes.com Comments on reddit.com
Monsanto’s claim that it’s a Original post on aljazeera.com Comments on reddit.com
The idea that a college diploma is an all-but-mandatory ticket to a successful career is showing fissures. Risky? Perhaps. But it worked for the founders of Twitter, Tumblr and a little company known as Apple. Original post on nytimes.com Comments on reddit.com
Escalating delinquency rates make student loans look like the new subprime. Original post on alternet.org Comments on reddit.com
States and banks have made a deal with the devil. Banks buy the sovereign bonds needed to prop states up in the tacit understanding that the states will bail them out in a pinch. But experts warn that this symbiotic arrangement might be putting the entire financial system at risk. Original post on spiegel.de Comments on reddit.com
TOKYO (Reuters) – Ratings agency Fitch downgraded the debt ratings of Japan’s Sony Corp and Panasonic Corp to junk status citing weakness in their consumer electronics and TV operations, further diminishing Original post on reuters.com Comments on reddit.com
Average US Credit Card Debt Per Borrower up in 3Q Original post on abcnews.go.com Comments on reddit.com
Be it the United States or the European Union, most Western countries are so highly indebted today that the markets have a greater say in their policies than the people. Why are democratic countries so pathetic when it comes to managing their money sustainably? Original post on spiegel.de Comments on reddit.com
How did we get from nearly $6 trillion projected surpluses in 2001 to $6 trillion in new debt? As President Obama and Republican leaders in Congress square Original post on nationalmemo.com Comments on reddit.com
European stocks fell for a fifth day after euro-area finance ministers and the International Monetary Fund disagreed on how Greece will repay its debt. Original post on bloomberg.com Comments on reddit.com
It’s widely accepted that unscrupulous bankers tricked unknowing consumers into loans they could not afford, leading to the financial crisis. No doubt, plenty of that occurred—underscored Wednesday with a $1 billion federal suit against Bank of America’s mortgage arm Countrywide Financial. Original post on time.com Comments on reddit.com
Voters may be uninspired by their choice for president on Nov. 6. On the issue most urgent to Americans – the economy – neither Barack Obama nor Mitt Romney has offered a credible plan that might spark growth and help create jobs. Similarly, on the issue that profoundly threatens the United States long-term – the debt – neither candidate has come forth with a prescriptive, balanced proposal of program cuts and increased revenues. Original post on observer.com Comments on reddit.com
Is Romney really a job creator? Ronald Reagan’s budget director, David Stockman, takes a scalpel to the claims. Original post on thedailybeast.com Comments on reddit.com
A debt collector, angered that a disabled US Army veteran was living off of disability payments, told him he “should have died” in war instead of Original post on rt.com Comments on reddit.com
As President Obama prepares for the first presidential debate, Bill Clinton campaigned in New Hampshire, hitting Mitt Romney on taxes and debt. Original post on latimes.com Comments on reddit.com
About 250,000 customers will be reimbursed as a result of accusations that the company violated federal law. Original post on nytimes.com Comments on reddit.com
Below are the transcripts from the film Surviving Progress I was a part of. The film can be purchased here. Canada FILM group on PROGRESS 2010: The Roa… Original post on michael-hudson.com Comments on reddit.com
From Yahoo! News: Before the Sept. 11 attacks, the Rev. Carl Keyes was a little-known pastor of a small New York City congregation searching for members and money. Original post on yahoo.com Comments on reddit.com
‘N.Korea signs debt agreement with Russia: KCNA’ on Yahoo! Finance UK. A general view shows the Juche Tower in central Pyongyang, pictured in April. North Korea said Tuesday that it had signed an agreement with Russia settling an estimated $11 billion debt owed by Pongyang… Original post on yahoo.com Comments on reddit.com
A perfect storm of government debt, easy consumer credit and a culture of consumption could lead to economic disaster. Original post on thediplomat.com Comments on reddit.com
BY MICHAEL COHEN If a politician says he ran a marathon in just under three hours when he actually ran it in four hours, does it matter? Ordinarily this wouldn’t be a question of much polit Original post on nydailynews.com Comments on reddit.com
The great criticism of Mitt Romney, from both sides of the aisle, has always been that he doesn’t stand for anything. He’s a flip-flopper, they say, a Original post on rollingstone.com Comments on reddit.com
