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When debt levels turn cancerous – Telegraph Blogs
The professoriat has been a little too cavalier in arguing that debt does not really matter for the world as a whole because we all owe it to ourselves. Debtors are offset by creditors (not always from...
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Troika Talks on Aid to Greece Stall – WSJ.com
“I expect a hard default definitely before March, maybe this year, and it could come with this program review,” said a senior IMF economist who is keeping close tabs on the situation. “The chances for...
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ECB’s Top German Representative Resigns – WSJ.com
Germany’s top representative on the European Central Bank resigned in an apparent protest of the bank’s recent interventions in euro-zone debt markets…….Jürgen Stark is stepping down “for personal...
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Perils of ignoring Europe’s lessons – P.M.
DAVID MURRAY: The lending system for housing has resulted in a house price which is higher than it should be and part of the net foreign liabilities that are higher than they should be. I believe that...
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Debt and deleveraging: The global credit bubble and its economic consequences...
Empirically, a long period of deleveraging nearly always follows a major financial crisis. Deleveraging episodes are painful, lasting six to seven years on average and reducing the ratio of debt to GDP...
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The path to recovery: how to bring the debt binge under control
The debt binge since 1975, fueled by an easy-money policy from the Fed, has landed the US economy in serious difficulties. Wall Street no doubt lobbied hard for debt expansion, because of the boost to...
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Real Recovery: America’s Debt is on the Decline
[A new report from the McKinsey Global Institute] estimated that home equity loans and cash-out refinancing increased consumer spending by a percentage point to 3 percent growth a year during the...
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Government Debt and Deficits Are Not the Problem. Private Debt Is. | Michael...
Professor Michael Hudson writes: Student loan debt, now the second largest debt in the US at around $1 trillion, is the one kind of debt that has been growing since 2008. It is depriving new graduates...
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If we don’t understand both sides of China’s balance sheet, we understand...
From Michael Pettis’ OpEd in the Wall St Journal: History suggests that developing countries that have experienced growth “miracles” tend to develop risky financial systems and unstable national...
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IMF warns about Chinese debt
From FT (via the Coppo Report at Bell Potter): China’s leaders need to look beyond the current solutions being floated to tackle the country’s mounting corporate debt problems and come up with a...
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