The legitimacy of a given social order rests on the legitimacy of its debts.
Articles: debt (19)
...[T]he transfer of wealth that has been created, that has been taken from the saver and from the taxpayer to “mend the financial system” or to keep it from falling off the cliff is extraordinary.
Anyone with any sense for global economic trends ought to be worried. The signs are everywhere of a serious deflationary crisis.
The cast of heroes and villains in Greece’s ongoing battle to save its economy varies depending on who’s telling the story.
We all know one thing that Greece, Cyprus, and Puerto Rico have in common–severe financial problems. There is something else that they have in common–a high proportion of their energy use is from oil.
Humanity is approaching a time when philanthropy will be more needed than ever, to address proliferating environmental and humanitarian crises. Yet our existing philanthropic model depends upon growth, via returns on financial investments.
Lifting the oil export ban would only perpetuate the problem of over-production. That is no solution to low oil prices, lost jobs or lower oil-related spending.
What follows are the continuance of my research, discussions, observations and thoughts around the nexus of debts, interest rates and the oil price.
Many readers have asked me to explain debt. They also ask: Why can’t we just cancel debt and start over? if we are reaching oil limits, and these limits threaten to destabilize the system.
The new Greek political party, known as Syriza, the Coalition of the Radical Left, has done the unthinkable