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I pushed him off because jumpers like Chen are very selfish. ... Their action violates a lot of public interests. They do not really dare to kill themselves. Instead, they just want to raise the relevant government authorities' attention to their appeals...

2009-05-23

 suicide China bridge incredible debt selfishness
He wasn’t referring to the people who have no choice, who can’t afford their payments. He was speaking about the rising number of folks who are voluntarily choosing not to pay. Such voluntary defaults are a new phenomenon. Time was, Americans would do anything to pay their mortgage — forgo a new car or a vacation, even put a younger family member to work. But the housing collapse left 10.7 million families owing more than their homes are...

2010-01-07

 debt load house USA default business
At all levels, federal, state, local and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company--only Japan, Lebanon and Zimbabwe are higher. That's only the start. Add household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balance-sheet swaps and derivatives) and our total debt is 557% of GDP. Less than three...

2009-12-18

 USA debt politics
Federal Reserve chairman Ben Bernanke has laid out four "unconventional" policy options to boost the US economy. Top of the list is more "quantitative easing" - mass purchases of debt...

2010-08-27

 print money debt USA economy Federal Reserve inflation
The reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself. In our economic adolescence, we have regarded money as a “thing”—something independent of the relationship it facilitates. But today there is no gold or silver backing our money. Instead, it’s...

2010-10-28

 money debt finance economy fraud
The past three years have been a disaster for most Western economies. The United States has mass long-term unemployment for the first time since the 1930s. Meanwhile, Europe’s single currency is coming apart at the seams. How did it all go so wrong? Well, what I’ve been hearing with growing frequency from members of the policy elite — self-appointed wise men, officials, and pundits in good standing — is the claim that it’s mostly the...

2011-05-08

 Paul Krugman economy crisis euro European Union USA debt politics Iraq invasion 9/11 George W. Bush unemployment
Is America in denial about the extent of its financial problems, and therefore incapable of dealing with the gravest crisis the country has ever faced? This is a story of debt, delusion and - potentially - disaster. For America and, if you happen to think that American influence is broadly a good thing, for the world. The debt and the delusion are both all-American: $14 trillion of debt has been amassed and there is no cogent plan to...

2011-06-27

 USA debt politics economy denial psychology
The International Monetary Fund (IMF) has called on US politicians to act urgently to raise the country's debt ceiling. The IMF also called for a "comprehensive solution" to reduce the US deficit over the medium term...

2011-07-25

 IMF USA bankruptcy debt economy
Recent events, including stock market falls, the escalating sovereign debt crises, US credit rating downgrade and a near-stalling of growth in the developed world is leading increasing numbers of experts to wonder if the world is facing some fundamental changes.

2011-08-18

 USA European Union euro economy recession debt currency dollar China

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