by Charles Hugh Smith from Of Two Minds
It’s Your Choice, Europe: Rebel Against the Banks or Accept Debt-Serfdom
The European debt Bubble has burst, and the repricing of risk and debt cannot be put back in the bottle.
It’s really this simple, Europe: either rebel against the banks or accept decades of debt-serfdom. All the millions of words published about the European debt crisis can be distilled down a handful of simple dynamics. Once [...]
— By Kevin Drum
A reader points me to a critic who thinks that in yesterday’s post about the debt ceiling I played fast and loose with budget numbers:
To me, the most damning part of this article was what the Author determined that our Government would fund. Mainly, Social Security, Medicare, interest debt, and some defense spending. According to the article, these items would take up the entire [...]
Countries with wider INCOME INEQUALITY: CIA FACT-BOOK
#_Country__Inequality__Year of Data
1. Namibia 70.7 2003
4. Botswana 63.0 1993
7. Haiti 59.2 2001
11. Guatemala 55.1 2007
12. Honduras 53.8 2003
16. El Salvador 52.4 2002
17. Panama 51.0 2010 est.
18. Papua New Guinea 50.9 1996
19. Zambia 50.8 2004
20. Niger 50.5 1995
21. Swaziland 50.4 2001
22. Gambia 50.2 1998
23. Zimbabwe 50.1 2006
26. Sri Lanka 49.0 2007
30. Madagascar 47.5 2001
31. Mozambique 47.3 2002
35. Rwanda 46.8 2000
38. Uganda 45.7 2002
39. Jamaica 45.5 [...]
by Philip Taylor
$100,000 Loan for 30 Years for Various Interest Rates
Int. Rate Total Interest Paid Total all payments
0% $0 $100,000 (Lincoln Greenback 0% Credit Currency) NO INTEREST
1% $16,244 $116,244
2% $33,950 $133,950
3% $53,058 $153,058
5% $95,154 $195,154
6% $117,947 $217,947
10% $218,238 $318,238
15% $356,901 $456,901
20% $502,538 $602,538
25% $650,930 $750,930
30% $800,344 $900,344
300% $8,900,000 [...]
In the article today from Whiskey and Gunpowder, we have Dan Denning ending his article with this thought.
quote
By not rolling over or adding to their U.S. bond holdings, the Chinese slowly reduce their vulnerability to a weaker U.S. dollar. They also, you’d think, slowly dial back their position as the largest creditor to the U.S. government. And who is buying the bonds the Chinese are buying less of?
If it’s the [...]
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