Global Debt Is Almost 3 Times As Big As the World Economy


by Washington"s Blog, Washington"s Blog

The Guardian reports that global debt has grown by $57 trillion dollars - to $199 trillion dollars - since the 2008 financial crisis.

How much is that? It"s a big number ... but what does it actually mean?


 more WWRT

What We Read Today 05 March 2015

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

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 more features, analysis, studies, and news published in the last week

Ancient Britons Had Wheat 2000 Years Before They Had Farms

by Vince Gaffney and Robin Allaby, The Conversation

Wheat has been found in a settlement on England"s south coast dating back to 6000BC - 2000 years before farming reached Britain. This finding overturns many cherished archaeological beliefs - or myths - about the era. Though they were once patronised as simplistic hunter-gatherers, it turns out early Britons must have been active traders with the agricultural superpowers of their day in France and the Balkans. It"s time to reassess Mesolithic man.


Infographic Of The Day: Where History's Greatest Minds Traveled To Unwind

Ever wonder where Ernest Hemingway's favorite travel destination was?

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Video of the Day:

Boston Marathon bombing survivor Rebekah Gregory wrote a powerful letter to Dzhokhar Tsarnaev, who is currently under trial for the bombing attack.

video of day picture

 more investing, markets, precious metals & forex Technical Summary 05 March 2015

 more opinion

Reading Mensik's "The Origins of the Income Theory of Money"

by Dirk Ehnts, Econoblog101

The title of this post was taken from a paper by Josef Mensik, a colleague of mine from Brno in the Czech Republic. The abstract starts like this:

The income theory of money was conceived in the 19th century, and in the first half of the 20th century it formed the backbone of all the main monetary approaches of the time. Yet, since it did so mostly implicitly rather than explicitly, and since the later developments moved economic theory in a different direction, the income theory of money is hardly remembered at present. While mainly accounting for the origins of the approach, I am also offering a brief comparison with the present mainstream economics and I shortly address the question of the possible future of the theory too.


 USA economy at a glance (boxed items are updates in last 7 days)

Rail Week Ending 28 February 2015: Two BAD Weeks In a Row. February Was a Bad Month.

Econintersect: Week 8 of 2015 shows same week total rail traffic (from same week one year ago) again declined significantly according to the Association of American Railroads (AAR) traffic data. Intermodal traffic, which accounts for half of movements, continued to contract year-over-year. Part of the intermodal decline was caused by labor issues at the West Coast Ports, and another part was caused by a large decline in coal production - it does not explain much of the decline (you can always blame the weather).

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