By Emma Rowley Spain’s prime minister said he is “battling” to get the eurozone’s central bankers to bring down the country’s record borrowing costs, amid…
Stimulus plans have failed because they only allocate funds to political cronies for projects that are unnecessary, and do nothing to reduce the debt burden…
The White House is insisting President Barack Obama will not extend the Bush-era tax cuts for wealthier Americans — even temporarily. Obama spokesman Jay Carney…
On May 9 the House voted to kill the American Community Survey, which collects data on some 3 million households each year and is the largest survey next to the decennial census. The ACS—which has a long bipartisan history, including its funding in t…
The desperate cunning scheme to get Greeks to pay property taxes by bundling them with electricity bills didn’t last long. You guessed it, people stopped…
Wall Street JournalChina's Fall in Bank Deposits May Pinch LendingWall Street JournalBy DINNY MCMAHON BEIJING—Falling deposits at China's banks, as households seek higher returns for their savings, may challenge banks' ability to ramp up …
A sound system of credit is built on collateral. A doomed system of debt sits precariously on phantom collateral.
The global “recovery” is based not on reducing debt but on increasing it. Nice, but where’s the collateral? The basic idea of de…
Cheating on the final exam to get an A doesn’t mean you mastered the subject. Yet cheating is all we have in America because sacrifice and adult trade-offs are too painful.
We all know there is no shortcut to anything worth having–mastery, securit…
The self-interest of the alcoholic is to keep drinking. Is this truly in his best interests? The answer illuminates the pathology of power in America.
If we ignore the lip-service showered on “reform,” we find that there is really only one strate…
Consumer Credit in U.S. Surged in Nov.
By Meera Louis – Jan 9, 2012 3:21 PM ET .
Consumer borrowing (CICRTOT) in the U.S. surged in November by the most in 10 years, showing households are optimistic enough to take on debt and banks are willing to len…
