by Isaac Davis, Staff Writer Waking Times If you’ve ever wondered why the world seems hopelessly fraught with endless conflict, ruled corrupt states, and bent on developing a never-ending supply of advanced weaponry, you’d need to understand the nature of our debt based economy. The IMF has just reported that total global debt is now at a staggering $164 trillion, which amounts to 225% of total global GDP. Every person on this planet could turn over everything they produce for the next two plus years and we’d still be in debt. The number is now so astronomically high that its impossible to … Continue reading GLOBAL DEBT IS NOW AN INSANE $164 TRILLION, BUT WHO EXACTLY DO WE OWE?
Former Lehman Brothers Chief Executive Richard Fuld. Photo by Kevin Lamarque/Reuters The financial world is a theatrical production, abundantly lubricated by that magical elixir of illusionists: confidence by Matt Seybold assistant professor of American literature and Mark Twain Studies at Elmira College in New York. He is co-editor of the forthcoming Routledge Companion to Literature and Economics. His writing has appeared in Mark Twain Annual, T S Eliot Studies Annual, Henry James Review, and Reception. Edited by Marina Benjami On 10 June 2008, Dick Fuld, the soon-to-be infamous CEO of a soon-to-be infamous investment bank, Lehman Brothers in New York, assembled his executive committee in response to a second-quarter earnings report … Continue reading Confidence tricks
image edited by Fernando Kaskais Money and brains are both quantum phenomena – so it’s not surprising that economics is overdue for a quantum revolution by David Orrell is a writer and mathematician. His research on complex systems has been featured in the Financial Times, BBC radio and New Scientist, and his writing on science and economics has been published in World Finance, Bitcoin Magazine and The New Economy, among others. His latest book is The Money Formula: Dodgy Finance, Pseudo-Science, and How Mathematicians Took Over the Markets (2017), co-written with Paul Wilmott. He lives in Toronto. Edited by Sam Dresser ‘I’m not absolutely certain of my facts,’ wrote P … Continue reading Economics is quantum
image edited by Fernando Kaskais Not even close by Chris Martenson December 1, 2017 I hate to break it to you, but chances are you’re just not prepared for what’s coming. Not even close. Don’t take it personally. I’m simply playing the odds. After spending more than a decade warning people all over the world about the futility of pursuing infinite exponential economic growth on a finite planet, I can tell you this: very few are even aware of the nature of our predicament. An even smaller subset is either physically or financially ready for the sort of future barreling … Continue reading You’re Just Not Prepared For What’s Coming
by John W. Whitehead, Guest Waking Times “When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.” ― Frédéric Bastiat, French economist Americans can no longer afford to get sick and there’s a reason why. That’s because a growing number of Americans are struggling to stretch their dollars far enough to pay their bills, get out of debt and ensure that if and when an illness arises, it doesn’t bankrupt them. This is a reality that … Continue reading FINANCIAL TYRANNY: ‘WE THE PEOPLE’ ARE THE NEW PERMANENT UNDERCLASS IN AMERICA
courtesy of: Visual Capitalist by Tyler Durden If you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion. In an ideal situation, governments are just borrowing this money to cover short-term budget deficits or to finance mission critical projects. However, as Visual Capitalist’s Jeff Desjardins notes, around the globe, countries have taken to the idea of running constant deficits as the normal course of business, and too much accumulation of debt is not healthy for countries or the global economy as a whole. The U.S. is a prime example of “debt creep” – the country hasn’t posted an … Continue reading Visualizing $63 Trillion Of World Debt
Posted by Soren Dreier Author: James Petras America has the greatest inequalities, highest mortality rate, most regressive taxes, and largest public subsidies for bankers and billionaires of any developed capitalist country. In this essay we will discuss the socio-economic roots of inequalities and the relation between the concentration of wealth and the downward mobility of the working and salaried classes. How the Billionaires become Billionaires One of the most likely sources of billionaire wealth is through tax evasion in all of its guises and forms. Contrary to the propaganda pushed by the business press, between 67% and 72% percent of corporations had … Continue reading HOW BILLIONAIRES BECOME BILLIONAIRES