Crisis debt

Democracy Dies in Darkness Sections Home Subscribe Try 1 month for $1 Username Sign In Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Subscribe Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Accessibility for screenreader Politics Analysis Analysis Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events by Philip Bump by Philip Bump Email the author April 9 at 7:11 PM Email the author Donald Trump speaks during a campaign event in Hartford, Conn., in April 2016. (AP Photo/Charles Krupa) Something happened between about Nov. 8, 2016, and about Jan. 20, 2017, that made Donald Trump suddenly far less concerned about the size of the federal debt. What that thing might be isn’t clear. But we know from his comments on Twitter and the campaign trail … [Read more...] about In a decade, the federal debt held by the public will reach nearly $82,000 per American

(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Melanie G. Long, Colorado State University (THE CONVERSATION) For many Americans, the financial crisis that plunged the global economy into recession a decade ago may seem like a distant memory. Household net worth – the difference between assets and debts – reached a record US$98.7 trillion in the last quarter of 2017, up from $56.2 trillion in 2008. Yet net wealth, by itself, masks a lot of information that could signal troubling trends. For example, this measure doesn’t tell us which households are getting richer. It also doesn’t reveal how much borrowing is fueling these ostensibly swelling balance sheets. More specifically, it doesn’t show that for households headed by women, particularly poorer ones, the financial picture is still very cloudy. That’s in part because, as my soon-to-be-published research shows, low-income single … [Read more...] about 2008 financial crisis still seems like only yesterday for single women

Former senior International Monetary Fund (IMF) official Carlo Cottarelli was designated Prime Minister of Italy by President Sergio Mattarella. Tony Gentile/Reuters Italy faces an institutional crisis like never before, with new elections increasingly likely after its election on March 4th.  The country's public debt is over 130% of its GDP and threatens the eurozone's stability. Any upcoming election will likely be framed as a contest between the forces of the establishment, against their eurosceptic challengers. Italy's predicament is significant to the future of the EU and has raised questions about the nature of party politics and of democracy itself in the 21st century. After months of wrangling, Italy's political crisis has a hit an impasse, with new elections now increasingly likely. The country faces an institutional crisis without precedent in the history of the Italian republic. Its implications extend well beyond Italy, to the European Union as a whole. … [Read more...] about Italy’s political crisis is a moment of reckoning for European liberal democracy

Jun 11, 8:54 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Opinion By Bruno Pellegrino 06/04/18 AT 6:04 AM Italy managed to form a government after briefly slipping into political crisis, which sent markets around the world into a panic as investors fretted about the fate of the European Union. The crisis began on May 27 when the political party that won the most seats in March elections initially failed to form a government.Economist Bruno Pellegrino, who has previously written on Italy’s economy, explains what’s going on and why it matters.1. What’s driving the political chaos?The March 4 election dramatically tilted the balance of power in the country.It was a true political earthquake: The Italian electorate resoundingly rejected the political establishment that has held power since the mid-90s in favor of populism, as happened in the 2016 U.S. … [Read more...] about What’s Behind Italy’s Crisis And Why It Matters

BRITAIN’S hidden debt mountain is among the worst in the world, it emerged yesterday. A major report by the IMF reassessed 31 major nations’ net worth, balancing how much each owns to each owes. Only Portugal fared worse than the UK, as it emerges the Government now has eye-watering liabilities of more than £2trillion – which is more than 100% of our entire annual GDP. The international financial watchdog last night warned that this leaves the UK dangerously exposed to the next economic downturn. The IMF looked at every state’s assets, from land to energy resources, as well as what they are on the hook for, from pensions to stakes in banks and regular borrowing. Even previously troubled states like El Salvador, Brazil and Albania have less liabilities than Britain. Norway has the healthiest outlook because of its massive oil and gas reserves, followed closely by Russia. Britain’s new debt hole has largely been created by the financial crisis, which … [Read more...] about Britain hidden debt mountain is among the WORST in the world, report reveals