Tagged debt

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Another Europe

The 2008 financial crisis threw European economies into turmoil and caused state debt to rise precipitously.  The bureaucracy of the European Union in Brussels concluded that righting economic imbalances required indebted governments to implement harsh “austerity” policies. European states needing financial support or debt relief from the rest of the Eurozone were thus ordered to…


The Gift of Capital: The Rise of Eastern Investment or the Fall of an Economic Order

BY ARI MOSES While Western banking institutions have traditionally dominated global commerce, Middle and Far Eastern nations are catching up as they develop stable economies with international presence. The rapid economic growth of BRIC (Brazil, Russia, India, China) nations, especially China, has recently enabled emerging powers to support struggling nations throughout the Eurozone and in…

Enough with Austerity

In the UK, the country I’ve called home for the past few months, we’ve now officially entered an unexpected double-dip recession. Like Obama, Prime Minister David Cameron inherited a huge debt. However, the British pound is much more vulnerable than the dollar, and the Tories decided to institute swift austerity measures for fear of becoming…

Riots in Athens

Embattled Eurozone

Simmering With Greece “Pass this Bill,” urged President Barack Obama, warning that the alternative to his jobs plan was a crisis that would resemble Europe’s. In Sarah Palin’s letter to her Political Action Committee, she stressed the need for a leader to show the US the way, lest it follows the ‘road to European socialization.”…

How I Learned to Stop Worrying and Love the Debt

On August 5, 2011, the credit rating agency Standard and Poor’s downgraded the status of the United States’ long-term credit rating from AAA to AA+. Riots immediately broke out nationwide, Texas seceded from the Union, and California broke off and sank into the sea. A little background might be in order. Standard and Poor’s –…

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