by Michael Hudson, New Economic Perspectives
This is a Classic Essay First Posted 10 April 2012
A common denominator runs throughout recorded history: a rising proportion of debts cannot be paid. Adam Smith remarked that no government ever had repaid its debt, and today the same can be said of the overall volume of private-sector debt. One way or another, there will be defaults - unless debts are paid in an illusory fashion, simply by adding the interest charges onto the debt balance until the sums finally grow to so fictitious a magnitude that the illusion of viability has to be dropped.
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Written by Econintersect
Econintersect: Google Analytics has given GEI page read counts for each of the 277 most read articles on Global Economic Intersection for the week 18 June through 24 June, inclusive. The top ten are listed after the Read more >>jump.
Infographic Of The Day: The Cloud Is Your Friend?
Almost everyone who uses the internet uses the cloud, wittingly or no, but it seems that few people actually know what it is.
This widget provided by DailyForex.com Forex News & Brokers;
Written by Sig Silber
Yikes!!!!! From NOAA:
One might add tropical activity to that (which is covered in the body of tonight's article) especially for the earlier part of the period.
Written by Dan Steinbock, Difference Group
As the White House is preparing to a political war for its survival, the Trump-Xi 100 day plan should overcome long-term pressures on US-China ties. After the two-day summit at Mar-a-Lago last month, the US and China announced a 100-day plan to improve strained trade ties and boost cooperation between two nations.
Written by Lance Roberts, Clarity Financial
Last week, I discussed 'This Market Seems Bulletproof' and how, despite the carnage in Technology and Discretionary sectors, the overall market was mostly unaffected.
Early Headlines: GOP Healthcare Waivering, UK's Great Brexit Divide, Hopes Of Defeating Merkel Fade,
23Jun2017 Market Close: Wall Street Finishes Off The Week With A Gain, DOW Down 3 Points, Other Majo
23Jun2017 Pre-Market Commentary: Wall Street Opens Higher, Crude Prices Edge Higher, Investors Await
ECRI's WLI Growth Index which forecasts economic growth six months forward remains in positive territory for over one year - after spending the previous 35 consecutive weeks in negative territory. This is compared to RecessionAlerts similar weekly leading index.