Jack of all trades
8 hours ago


Here's the source article that goes into details of that statistic for #China:

280% debt-to-GDP ratio is actually below the global rate which currently stands at 336%:

I think it's fair to say that the world economy is very deeply leveraged and the day of reckoning is coming sooner rather than later. ☹️

#economics #debt #GDP

Jack of all trades
9 hours ago

Why China’s Debt Crisis is Quietly Getting Worse

#China #debt #economics

Chart: China's Leverage Ratio Hit Record High
WIST Quotations
2 days ago

A quotation from Hubbard, Kin:

Some folks pay a compliment like they expected a receipt.

Full quote, sourcing, notes:

#quote #quotes #quotation #compliment #debt #obligation #receipt

Abe Martin comic, San Francisco Call (1912-02-07)
ExTraders Global
3 days ago

Asian #Stocks Fall on Weak #Oil and #China's #Debt Woes

3 days ago

@FluentInFinance MANY people, smart people, fall into this trap and our media sources re inforce the incorrect message over and over. #finance #debt

3 days ago

@FluentInFinance Economically the point of debt is to get the capital in the hands of people or organizations that can comparatively create more economic growth out of it. If I have capital that I can not put to work at better than the going rate for debt then I am better giving it to someone and accept that price as the best I can do. In other words debt is GOOD for economic growth. to portray it as some sort of thing to be ashamed of is to misunderstand how the economy works. #finance #debt

3 days ago

@FluentInFinance 100% of that debt is held by someone or an organization that lives on this planet. in other worlds globally the balance sheet balances out. so within that context what is the point of this post? What implications are you trying to highlight? further more Worldwide net private wealth stood at $454.4 trillion in 2022. so does that balance sheet (globally) really seem out of whack? #finance #debt

TastingTraffic Social®
4 days ago

👹 #HORROR_SHOW?: #DOCTORS WITHOUT #BORDERS and #DAVIDV Demand A #PERMANENT #CEASE_FIRE in #Gaza and #Medical_Aid for #Wounded.

🥊 #DavidV to #Biden. #LETS MAKE A #DEAL!

#Listen Listen.. How in the hell can you even look at yourself in the Mirror; in the Morning? ..#DRUGS??

You are a #family_man --are you not? You rode that train everyday just to get back to your family for dinner. (some pay attention to detail - most do not;) A very important dinner appointment to make .. many years?? Hmmmm..

You have the power to stop all of this but yet you promote and encourage #GENOCIDE?? 🏴‍☠️

Do you really care about humanity? Now is the time to show the masses that you CARE.

Doesn't matter what 🇮🇱 Israel WANTS (They are #Murderers.. plain and simple!). They got money but NO fricken brains aka braindead! 🧠

You can WIN another election (4 years) and beat #Trump (The CHUMP;) by the simple wave of your hand (aka #CEASE_FIRE! in Gaza Immediately).


How do you think you got to be #President in the first 1ST place?

How did a guy in his basement WIN --by doing nothing??

It was not the crooked smile or great son that pushed across the finish line..

A few point spread is all it was..

We have already paved the way for another term (AKA VICTORY)..


..and we can be friends again;)

.. And what does that mean.

.. it means today is your #LUCK_DAY! and truth.

It means the USA will be the leader in #Technology WITHOUT A DOUBT.

We invented #HFT and #RTB that runs EVERYTHING IN BIG TECH ATM! (STOLEN BTW)

There is no other #Company or single OR group of persons than can compete against us .

Why? bc we only build things if we know we can WIN. How?

ZERO COMPETITION AND 2 DECADES TO CATCH UP; ALLOWING TIME TO SECURE MARKET SHARE before anyone learns how to tie their own shoes and that will take at least 20 years:)

The Internet is #ecosystem. One must be able to see all THE MOVING PARTS IN TECH in the same way you are able to see all THE MOVING PARTS IN GOVERNMENT.


We are a cash cow. always have been always will be. And last time i check we are in #debt? 500 Trillian. give or take..

In order to have foresight when it comes to the internet one must have #HINDSIGHT (aka the Golden Egg) bc unlike Brick and Mortar the internet #evolved in #milliseconds. That's why you are so far behind.

And without hindsight there will be NO_VALID_FORESIGHT ..AS YOU ARE PROB NOW LEARNING..

But we LOVE America! 🇱🇷

The Greatest Country on the planet.

Do not listen to those elite losers.

We moved 5 trillion of their money (elites under their noses grin) WITHOUT THEIR #CONSENT.. into other peoples pockets ..think about that:) AKA opm;)


We will come back and get that money later.. grin.

#LEGALLY BTW IS THE ONLY WAY TO FLY. We love the internet don't you?

Make more money than any ILLEGAL drug dealer can muster IN A BILLION YEARS and that's is how you solve #CRIME;)

~A LIFE TIME APPOINTMENT IN OFFICE; ENDED with a #Unprecedented #Mass_Murder of #literally 10's of 1000's of #Women and #Children?? We cannot tolerate this type of atrocity whatsoever. DO NOT BE A FOOL by puppeteers. DO THE RIGHT THING!


#YouTube Comments:

* Shame on the US and the EU politicians

* As an American, I'm #disgusted by the #complicity of the #United_States. As a #retired US #RN, I am well aware of what a heroic group #Doctors_Without_Borders is.

I can also envision the level of suffering and the type of injuries being suffered, when 2,000 pound bombs are dropped onto buildings and homes, where vulnerable and innocent, impoverished people live; including elderly, children, and babies.

We hear of the over 6,000 #children and countless more still #buried under the #rubble, but realize also the over 10,000 who are injured; many with unbelievable #traumatic injuries. Then add to that the damage to the #psyche, when #children have to endure #witnessing terrifying #bombings and the injuries and #deaths of others. On top of that, over 17,000 have #lost at least #one_parent.

How can this be happening in 2023, it is beyond belief!!

I commend all of those who are using their voices to speak for the #Innocent #Palestinian people, who are being absolutely #brutalized by #Israel, #aided by the #US and others and I am #sickened by the #weakling_media, who refuse to speak out, and those in leadership positions, who realize how wrong it is, but follow lock-step, knowing Israel is committing #genocide.


* All the staff who keep on working under such circumstances are true #heroes.

* I support Doctors Without Borders. Worthy Charity.

* “When exposing a crime is treated as committing a crime, you are being ruled by criminals.” — #Edward_Snowden

📛 DISCLAIMER: We Don't Cover the News | We Cover the 'Way' the #News is #COVERED_UP! 👿


* Software Architect (PhD) Supervisor -25 years 100K PMS hours
* Founder of SEO (Search Engine Optimization)
* Founder of RTB (Real Time Bidding)
* Founder of HFT (High Frequency Trading) ® (Decentralized SOCIAL Network | Signup for Early Invite); ® (#International_Tech_News); ® (Just Blame Wayne & Post it);
http://Davidv.TV ® (Big Faith | Christianity RAW 101) are not affiliates of this provider or referenced images used. This is NOT an endorsement OR Sponsored (Paid) Promotion/Reshare.

The Japan Times
4 days ago

Ratings agency Moody's has slapped a downgrade warning on China's credit rating, saying costs to bail out local governments and state firms and control its property crisis will weigh on the world's No. 2 economy. #business #economy #moody039s #debt #china #pboc

5 days ago

Well written post by @sjwrenlewis about some useless definition of a recession and the harmful obsession with #debt in the EU and UK.

mainly macro: Current UK and EU stagnation are in part the consequence of deficit obsession

#debtbrake #schuldenbremse #Haushaltskrise

5 days ago

OK, look, this excites me, but it sounds like there is still some ambiguity about GLOBAL SURPLUS REGULATORY MECHANISMS (GSRMs). There must be not only mechanisms for pulling deficit countries out of debt, but ALSO mechanisms for curtailing surplus! Infinite growth is not real or good! Matter can neither be created nor destroyed! GSRMS at IMF are IMPERATIVE! NOW! #GSRM #finance #debt #postcapitalism #restructuring #democracy #trust #collectiveaction #government #law #SOS

The Japan Times
6 days ago

Evergrande, the world’s most-indebted property developer, has eight weeks to agree on a restructuring plan with its offshore bondholders after its winding-up hearing in Hong Kong was adjourned yet again. #business #companies #china #evergrande #realestate #housing #hongkong #debt

Juan Bigliar
6 days ago

Fact: There is more #debt in the world than there is money in circulation.

Created by C.G.Ferman
Little Ash Undermine is sitting next to his Uncle Juan with his laptop computer. 
Ash says, "Uncle Juan, If all the countries in the world are in debt,
Where did all the money go?"
Juan replies, "I’d tell, but then you’d never see me again."
= = = = =
FatherSon: Debt World / National
Broadcast: Sunday; December 03, 2023
©2023 Markers In Motion, LLC. &. Christopher G. Ferman
This content is subject to copyright.

🇫🇷🇪🇺 #france Dette: S&P ne dégrade pas la note de la France mais la garde sous perspective négative 📰

#RevuedePresse #politique #international #Dette #debt #SP #BrunoLeMaire #LeMaire #gouvernement #government

Poetry News
1 week ago
1 week ago

Book rec: The Global Minotaur by Varoufakis is a clear synopsis of the economic mess that was the last century. I suggest you read it too so I'll finally have someone besides my husband to discuss my frustrations about the Bretton Woods Conference with! He needs a break from it. Ofc, if you've ALSO been needing to discuss it or know someone who has, lmk! hit me up! I have time!

#economics #inflation #debt #socialism #capitalism #technofeudalism #finance #goodreads

Watching Cambodia
1 week ago

Will #Cambodia’s Private #Debt Become National Debt? Private debt, much of it concentrated in the rapidly deflating real estate sector, has already emerged as a political problem for Prime Minister #HunManet. | David Hutt, The Diplomat

2 weeks ago

Financial Freedom: A Powerful Guide to Debt Elimination Tips.

#DebtEliminationTips #DebtElimination #debt

Financial Freedom: A Powerful Guide to Debt Elimination Tips.
Cory Doctorow
2 weeks ago

#10yrsago #Berlusconi kicked out of Italian senate

#5yrsago #Sennheiser’s headphone drivers covertly changed your computer’s root of trust, leaving you vulnerable to undetectable attacks

#5yrsago New York City’s municipal #debt collectors have forged an unholy alliance with sleazy subprime lenders


Latest News
2 weeks ago

#News #debt Official creditors and Sri Lanka agree in principle on debt restructuring: Official creditors and Sri Lanka have agreed, in principle, on restructuring the country’s debt.

The Paris Club said that following the launch event in April 2023, 17 countries formally formed, on May 9, an Official Creditor Committee (OCC) co-chaired by India, Japan and France (as chair of the Paris Club) to respond to the Sri Lankan authorities’ request for a debt treatment.


Jack of all trades
2 weeks ago

The world economy is defying gravity. That cannot last.

All told, government debt in the rich world is now higher, as a share of gdp, than at any time since after the Napoleonic wars.

When interest rates were low, even towering debts were manageable. Now that rates have risen, interest bills are draining budgets. Higher-for-longer therefore threatens to pit governments against inflation-targeting central bankers.

#economics #debt

ExTraders Global
2 weeks ago

Treasuries extended their strong November gains as traders weighed mixed US government debt sales amid speculation the Fed has finished raising interest rates. #Treasuries #US #debt #Fed #interest #rates #Trading

BC Info Bot
2 weeks ago
zkeesh :mastodon:
2 weeks ago

would you rather... have student #debt or medical debt? How about a little bit of both 😅

Cheradenine Zakalwe
2 weeks ago

#Give more than thanks.

I paid off $12,000 of somebody's
#medical #debt today. You can do it too.

ExTraders Global
2 weeks ago

#Treasury #bonds fell after holiday #trading resumed, erasing the monthly gains. The 10year #yield rose more than 6 bp, tracking declines in #European bonds following a report that #Germany would suspend #debt limits for the 4th year, raising #concerns about further #borrowing.

Jack of all trades
2 weeks ago

There are many things worth taking away from this talk, but I wanted to note this one in particular:

Being indebted to someone is a natural state in human communities. People close to each other constantly borrow from each other and that in fact strenghtens their relationship.

You only settle your debts if you don't want to see the other person ever again.

#debt #anthropology

2 weeks ago

I like German engineering and their dedication to science and philosophy, but as two world wars and ordoliberalism have shown, they are kind of daft when it comes to politics.

“It was the biggest mistake in German economic policy in the last 20, 30 years,” said Jens Südekum, professor of international economics at Heinrich Heine University in Düsseldorf. “The stupid thing is now in the constitution and you can’t get rid of it.” #debt #Germany #economics #legal

Jack of all trades
2 weeks ago

Debt: The First 5,000 Years | David Graeber | Talks at Google

#debt #money #economics #history

At a national level, having strong welfare, accessible health services and progressive attitudes towards mental health are shown to reduce suicide and mental illness. On an individual basis, reaching out to others, having supportive social networks, rethinking our identities and developing financial knowledge may help us all weather current and future crises.

Financial crises damage people’s mental health – our global review shows who is worst affected
#mentalhealth #depression #Debt #globalfinancialcrisis #Insightsseries #Tacklingthementalhealthcrisis #2007-08financialcrisis #Suiciderisk
Tofu Musubi
3 weeks ago

“South #Korea’s total household credit (#debt ) balance reached its second record high in a year amid a large increase in housing-related loans in the financial sector during the third quarter of 2023 (July to September).

As the recovery in housing transactions has been accompanied by a sharp increase in mortgage loans, credit-based household consumption has bounced back and shown an increase after its previous decline.”

For those of you worried about the levels of #publicdebt, here's a scary chart for you - and if you're concerned about developing state #debt, then its even more worrying.

The key thing here is that public debts are (on the other side) 'performing assets' for #investors & #pensioners so the crucial Q. is how willing are the holders to continue to roll forward or even increase their holdings....

So, its partly about confidence... as #LizTruss' debacle showed, that can dissipate very quickly!

Chart; Sovereign debt is close to historic highs. General government debt as % of GDP. from 1880

for advanced economies debt rose during the interwar period to a peak of around 120% in 1945, before declining to 40% in mid-1970s, and then rising to the current level of around 120% (again).

for emerging & developing economies debt has been slowly rising from below 40% until around 1980, and then an uneven rise & fall but ending up at around 70% (a historic high) this year
Bishop Greer
3 weeks ago

My wife received papers today that Portfolio Recovery Associates is suing us for $800. We can’t afford to pay the $800 and we certainly can’t afford an attorney. We are screwed. Once again they make being poor a crime. #help #attorney #debt #court #legalaid

The Japan Times
3 weeks ago

Japan’s advisory board for the Finance Ministry has flagged the need to pay more attention to the possible adverse impact of inflation and higher interest rates on the nation’s finances as a shift in Bank of Japan policy looms large. #business #economy #boj #debt #inflation #japaneseeconomy

3 weeks ago

Israel cannot pay for a war of this scale for more than 3 months.
After that, the US will pay all the bills.
To do that, the US has to borrow from China
Xi aint lending

🇮🇱 #debt #debt #bonds #war

Israel has borrowed billions of dollars in recent weeks in privately negotiated deals to help finance its war against Hamas, but it is having to pay unusually high borrowing costs....


#College Does Not Have to Be a #Debt Sentence;
#Miseducation about #collegeadmissions, #financialaid, and #studentloandebt has the potential to discourage talented young people from seeking out degrees.

Carolyn Barber, MD
3 weeks ago

What a beautiful gift. Casey McIntyre died of #ovarian #cancer but the fundraiser she started has raised nearly $220K. This should pay off ~$20M of others #medical #debt . 👏👏👏

$1 donated abolishes about $100 of medical debt

“To see that Casey’s good and happy life is continuing in this way is very beautiful to me,” her husband said.

Her fundraiser:
NYT piece: #medicine

Carolyn Barber, MD
3 weeks ago

What a beautiful gift. Casey McIntyre died of #ovarian #cancer but her fundraiser has raised nearly $220K. This should pay off ~$20M of others #medical #debt . 👏👏👏

$1 donated abolishes about $100 of medical debt

“To see that Casey’s good and happy life is continuing in this way is very beautiful to me,” her husband said.

Her fundraiser:
NYT piece: #medicine

Carbon Tracker
3 weeks ago

Since 2010, borrowing costs for #oil & #gas companies in the US 🇺🇸 & Europe 🇪🇺 have largely mirrored those for other #debt issuers, except for during sharp falls in commodity prices 📉, according to analysis by S&P Global Ratings

3 weeks ago

David Cameron ‘wants to unlock billions of dollars for foreign aid’

Did I read this right?

No new UK £; convincing other nations to pay more; encouraging more business investment packaged as ‘relief’ (presumably with strings attached).

If so, that ain’t aid, it is arm-twisting economic colonialism.

I will read the white paper with interest (and admittedly cynical eye).

#foreignaffairs #debt #MakePollutersPay

Lorraine C.
3 weeks ago

Are we in the Age of Insecurity?

Massey Lecturer looks at how being worried about the future can offer us a path of wisdom |

#fear #manufacturedinsecuruty #talks #stress #housing #foodinsecurity #anxiety #future #housinginsecurity #climatechange #canada #usa #eu #africa #charterrights #ubi #society #debt

4 weeks ago

U.S. government #debt is on track to surpass $50 trillion by 2033. That means $5.2 billion is piling up every day 👇 💸 💸

(but it seems like it doesn't matter and nothing will happen... 🤷‍♂️)

#kabuki play #MacArthur were censored after consequence of #perlharbor
#zaibatsu of the nation was crushed and redistribution of lands took place
as the big brother then wanted to appear more noble than the communist #china and dreams of the fascist bureaucrats came true
even the ministry of finance which controlled #intrestrates ( price of money) didnt control #credit creation \allocation ( quantity of money \ value of loan and enterprise [1]) central bank
[1]: the goal was to encourage #consumerism at any cost
why does it sound so familiar to #softbank op in #india #startup ecosystem , although it didnt go a long way. Like in a #war #economy surviving enterprise wouldn't compete for profit , but for market share. This was excess competition , later dealt by window guidance in banks , to create cartels controlled by banks. #freemarket hypothesis failed. With the creation of national #bonds , national #debt grew . This d be followed by creation of a bubble handy to central bank and then liberalized the economy. Asset prices hit to roof, Then the people with money ( even from #manufacturing ) wanted to benefit from their own speculation and made #zaitech #hedgefunds . Land value\loan was ~300 pc in 87. It bought 75% of us treasury bonds .
#economists are idiots and so are ( i am sorry to say) most of their #books

  • #trade surplus is a powerful as gold standard , if a country has it, it can just print and print money and buy out the entities abroad #gdpthis does leadvto systemic #banking #risk non gdp loans\ total loans USA has once lent houses against stocks as collatoral, #stockexchange shot up then busted , #incomeinequality of course rises in such craziness#tax payer can only foot the bill and book lossesthis is #moralhazardat the end of the day does it curb #homelessness ?i mean securitisation of #realestate requires deregulationthis led to one party rule in #japan, which shifted the economic center of the nation from banks to stock market and productivity from manufacturing to #services. The message was> no recovery without structural reformthat also increases the gap between the rich and the poor , job loss and #foreclosurestrade surplus alone isnt sustainableif you re allowed to borrow from abroad ,local interest rates ll rise to favor that currency you ll be bound to peg your currency to that currency and your #forex reserves ll depleteGross current account balance, if its maintained by the loans from abroad, that counts as export not import
Dave Johnson
1 month ago

When you hear ANYONE talk about government budget deficits or debt: THANK THEM for making the case for restoring pre-Reagan/Thatcher tax rates on the wealthy & their corporations.

Top tax rates in the US were 90% on the rich and 50% on their corporations. Inheritance 77%. UK is similar. What would be the effect on deficits if those rates were restored?

YES I understand #mmt
This is about shutting up conservatives and their ridiculous propaganda.

#deficits #taxes #debt #neoliberaism

1 month ago

#fed And once again, usage of The Fed's emergency funding facility for the banks increased to a new record high above $109BN...

US is screwed

#stagflation #debt #dyingempire

This is a reasonable survey of some of the travails that confront the young, from #unemployment to problems of #debt & an inability to enjoy a secure financial existence... however, one of the conclusions (given by these two academics) is once again education for financial literacy.

While, I don't disagree that some (only some) young people do sometimes struggle with budgeting, to lay the young's problems heavily on a lack of financial literacy is to blame the victims!

Mortgage brokers, who rely on commissions, are struggling as their income has dipped as home buyers move to cash.#Economy #BusinessandEconomy #Debt #FinancialMarkets #Inflation #Property #UnitedStates #US&Canada
High interest rates is hurting one more industry: Mortgage lenders
Zhi Zhu 🕸️
1 month ago

"Biden has steered the country out of a #recession and #pandemic, gotten through a slew of critical legislation (some bipartisan), avoided a default on the #debt, set the stage for about 14 million new #jobs and overseen a resurgence of manufacturing. Internationally, he has restored the #UnitedStates’ image and solidified and expanded #NATO in defense of #Ukraine.

Nevertheless, mainstream #media coverage has been incessantly negative"

#Biden #Journalism #USPol #News

News headline and photo with caption.

Headline: Opinion
Biden has succeeded all along. The media can’t ignore it.
By Jennifer Rubin, Columnist
October 27, 2023 at 9:00 a.m. EDT

Photo with caption: President Biden addresses the nation in the Oval Office of the White House on Oct. 19. (Demetrius Freeman/The Washington Post)

Admire this man's tenacity. Others would have moaned and groaned and played the victim card, but he put in the work to clear his debts by working multiple jobs and living out of his car. Clearing Rm1mil in 2 years is no small feat.

#Malaysia #TOOTSEA #SouthEastAsia #Crypto #Finance #Debt

2 months ago

#debt #war #drugs #dyingempire be amazing if there is no US #recession in 2024...

Democracy Matters :verified:
2 months ago

Thank Republicans for all the blessings.
#GOP #Taxation #TaxTheRich #Debt #VoteBlue

$10 trillion in added debt shows 'Bush and Trump tax cuts broke our modern tax structure'

«The #StudentUnions of #Concordia and #McGill are coming together to denounce the #CAQ's #tuition hike because of fears that it will price-out many #Canadian students and saddle them with more #debt.
In a joint statement, student leaders from both universities wrote, "We ask that the province consider the obstacles that this will cause for access to #education and the unnecessary financial strains on those who wish to study in our universities."»

#Quebec #qcpoli #Union

2 months ago

I had a little over $4k remaining on my vehicle loan. Overall it's cheaper to pay it off now than to continue the monthly payments so I just sent the lender the full payoff amount today.

The only #debt that I have left is my #mortgage

Does anyone want to pay that off for me? 😁

Jack of all trades
2 months ago

Corporate debt defaults have already been rising globally, notching their highest monthly increase in August, according to S&P Global data.

Peak defaults and bankruptcies in the US could come as soon around the first quarter of 2024, Charles Schwab estimated, as higher borrowing costs break weaker firms financially.

#finance #economics #debt

CelloMom On Cars
2 months ago

"Now, from Sri Lanka and the Maldives to Laos and Kenya, countries are struggling with #BRI #debt.

This has marred Beijing's reputation. Some critics accuse China of engaging in "debt trap diplomacy" by luring poorer countries to sign up for expensive projects so that Beijing could eventually seize control of assets put up as collateral."

(Reminder: This, and applying diplomatic and political pressure, is what western lenders have done also.)

The world in 2025 as seen from 1975: part 1/5

"If humans pass their cosmic exam as local universe problem solvers and continue on the planet into the twenty-first century, there will be no thoughts whatsoever of earning a living. There will be no thoughts of, or even such words as #business #competition, #money, or #lies for such phenomena will be historically extinct. Such words as #politics, #war, #weapons, #debt will be only of historical significance."


CelloMom On Cars
2 months ago

When Janet Yellen sneezes, countries don't just catch a cold: they go bankrupt.

"The last time the Federal Reserve had raised interest rates as aggressively as it had recently was more than 40 years ago, and the result was that 24 countries went bankrupt.

#Debt payments were crowding out spending to confront social and environmental crises. Debt service was 50% higher than combined spending in African countries on #education, #health, social protection and #climate."

Dick Smiths Fair Go Supporters
2 months ago

One of the most damning quotes comes out of the mouth of the #ukGovernor of the #BankOfEngland, a "Sir" #MontaguNorman who in the late 1930s said "We must lend #Germany 230,000,000 DM, it may never be repaid but such a loss it would be less of a loss than the fall of #nazism."

Someone should probably make an "#alwaysHasBeen" meme about #centralBanks.

#uk #agendaDriven #centralBanking #gunsOrButter #neoColonialism #modernSlavery #debt

Tracy Rosenberg
2 months ago

"If L.A. County stepped in and bought out our residents’ #medical #debt for them, we could eliminate their debt for millions of dollars, not billions,” Hahn said".

As we now look to be clearly entering a period of high(er) sustained #interestrates, the Q. must be what will be the consequences?

The FT offers some possible answers:

Consumers (effective) demand will be constrained by servicing #mortgages & household #debt;

#productivity may rise as under-performing firms are bankrupted (unable to service their loans);

states may find fiscal manoeuvrability further constrained due to servicing #publicdebt;

& the #greentranstion may be harder to fund.

Cory Doctorow
3 months ago

#5yrsago Since 2007, #debt-haunted grads have been doing public service to earn #LoanForgiveness, which they won’t get

#5yrsago #MeToo meets the #FightFor15 as #McDonalds workers walk out over sexual harassment

#5yrsago Exploring the ruins of a #ToysRUs, discovering a trove of sensitive employee data



just noticed a lot of questions about #DavidGraeber's #Debt. give me a day or two and i'll answer them all.

i mean, i just came out of surgery. not even sure if i should be typing.

so keep piling up the questions here

because i will be answering them all.

and here's a #Bonus tract: #AnarchistLibrary has almost all his books.

i still buy paper books, but use ePubs for a lot of my perambulating note-taking.

Addendae 2

Medical Debt Collection Is Vicious Multibillion-Dollar U.S. Industry

* ballooned in recent decades
* hospitals, collection agencies making a killing
* erodes trust in health care system
* countless patients financially ruined

#MedicalIndustrialComplex #corporations #DefundCorportations #DefundBillionaires #capitalism #neoliberalism #inflation #PrivateEquity #HumanRights #greed #avarice #profiteering #poverty #debt #PublicHealth #socialism

Asbjørn Ulsberg
3 months ago

“Despite the dogged liberal assumption — again, com­ing from [Adam] Smith's legacy — that the existence of states and markets are somehow opposed, the historical record implies that exactly the opposite is the case. Stateless societies tend also to be without markets.”

— David Graeber, “Debt: The First 5000 Years.”

#economy #debt #market #state #money #coin #history

Asbjørn Ulsberg
3 months ago

“A gold coin is a promise to pay something else of equivalent value to a gold coin. After all, a gold coin is not actually useful in itself. One only accepts it because one assumes other people will. In this sense,
the value of a unit of currency is not the measure of the value of an object, but the measure of one’s trust in other human beings.”

— David Graeber, “Debt: The First 5000 Years”

#economy #debt #money #coin #gold #history

Alberto Cottica
4 months ago

It turns out the reasons why many cultures, ancient and modern, loathe moneylenders (observation I owe to the late David Graeber) are all still there in the modern #debt collection industry, with a side of algorithmic harassment as described by @pluralistic . I have no love for an #economy that preys on the weakest like that, and look forward to its downfall.

Mirthless End
4 months ago

"The Simon & Schuster transaction will leave the publisher $1 billion in hock, ratcheting up pressure to repay the #debt — and turn a #profit."

#publishing #vampiresquid #privateequity #bookstodon #books #writing #simonschuster

CelloMom On Cars
4 months ago

"Our results support the idea that deferring green #investments will increase costs of borrowing for nations, which will translate into higher costs of corporate #debt."

"While developing nations with lower #CreditScores are seen hit hardest by the physical effects of #ClimateChange, nations with the highest ranking credit scores were likely to face more severe #downgrades simply because they have furthest to fall."

"#inflation is too much #money chasing too few goods"

The fucked up thing is that our #government is only willing to fix that by taking away people's money, not by making more goods.

#finance #federalReserve #debt #credit #economics

Scott Matter
5 months ago

The argument here on rent and technofeudalism is interesting.

Oddly, this is sort of what finance has already done. Investors, VCs, other owners of large amounts of capital loan it to companies (and governments?), and demand repayment with interest. While larger institutional investors may be playing a longer, more conservative game and accept lower rates of return, VC and more aggressive investors demand higher rates of return (in part because they’re gambling and often lose).

This demand for repayment with interest adds nitro fuel to the industrial (and financial) growth economy. And not because more things or more services are good or needed. Because more profit is demanded by financial rentiers as they exploit people and planet.

#capitalism #growth #degrowth #enshittification #debt #investment #finance

Kriszta Satori
5 months ago

#BBCNews - 'I feel manipulated’: The '#debt help' ads targeting struggling mums​​

NEW ROADS OPEN ROUTES FOR AUTOISTS, Oakland Tribune, November 20, 1921

The early 20th century meant the #development of #Oakland for #cars and for #HomeBuilding. The #bicycle was mostly forgotten, except as a toy or a piece of sports equipment, and #neighborhoods were laid out and #developed privately, by for-profit corporations rather than a civic body meant to benefit the citizens of Oakland. #PublicTransit was deprecated, except as a vehicle for #RealEstate sales. #AutoRow, on Broadway, and the car plants were churning out cars, and #debt to the people of Oakland, and the #newspaper was a marketing organ for these industries... This is all described really well in #MitchellSchwarzer 's book #HellaTown, which I recommend. I like old #maps, knowing how #roads came to be, and I've always been curious about the term "Little Skyline," which shows up in articles from this time. This article explains the route, and tells the story...

#georeference #OpenStreetMaps #history #Piedmont

Oakland Tribune, Oakland, California · Sunday, November 20, 1921


Georeferenced onto an OpenStreetMap map
Natalie Sedacca
5 months ago

Increases in visa fees & immigration health surcharge will exacerbate migrant workers’ debt and reliance on their employers, with the risk of becoming irregular if high costs aren’t repeatedly met. This stands to drive many into exploitative work without protection

#Migration #MigrantsRights #ForcedLabour #Exploitation #Debt

MugsysRapSheet Blog ☑️
5 months ago

If having #Debt makes one too much of a security risk to be in charge of #ClassifiedDocs...

...I think you see where I'm going with this. 😞 #GOPHypocrisy #IOKIYAR #CyberSecurityDirector

Daniel AJ Sokolov
5 months ago

I don't know the details/politics of this specific case. But I know that #debt is a serious #risk factor for security #clearances. Ask any #intelligence agency.

"#Portugal has signed an agreement to swap #CapeVerde's debt for investments in an environmental and climate fund that is being established by the archipelago nation off West #Africa's coast... Such "debt-for-nature" swap deals are emerging in other countries and are part of attempts to resolve a dilemma faced by world leaders on how and who will foot the bill for actions taken to reduce the impact of #ClimateChange

#Portugal #CapeVerde #environment #debt #ClimateAction

Flipboard News Desk
5 months ago

Do you have student debt? How will today's U.S. Supreme Court decision impact you?

CBS News curated these stories on the topic:

#StudentLoans #SupremeCourt #Students #Debt #USPolitics

If you've a #mortgage or other (variable rate repayment) #debt, if you thought this week was bad, investors & other #financialservices market participants are already betting the #BoE will need to raise rates further, possible to 6.5%;

of course this may not come to pass, but if you're already at the limit of what is possible, then there's a distinct likelihood its going to get worse...

And even if you switch to an interest only repayment regime for a while, the capital debt will be growing!

So one of the current Democratic talking points seems to be that Biden out-smarted the Republicans by giving them talking points they could use to look like they won on spending while adding small print which allowed the government to largely continue to spend as it has in the past. This is a very strange way of thinking about things. (Thread)

#debt #democrats #politics

Flipboard News Desk
6 months ago

House progressives are angry over debt limit deal’s passage.

The Messenger explains why:

#DebtCeiling #Debt #USPolitics #Politics #News

Flipboard News Desk
6 months ago

Debt ceiling bill clears first House hurdle, teeing up Wednesday vote.

CBS News reports: "A growing number of Republicans have said they'll vote no."

#DebtCeiling #Debt #Congress #Biden #USPolitics #News

Flipboard News Desk
6 months ago

President Obama agreed to $2.1 trillion in spending cuts to end the 2011 debt ceiling crisis. But things didn't turn out exactly as planned.

CNN reports on what happened next:

#DebtCeiling #Debt #USPolitics #Obama #News

6 months ago

@Radical_EgoCom #StudentLoan debt & #medicaldebt are only 2 of the curses of #GOPfascists & #wallstreet. We need to invest in our future not offer our people up as #humansacrifices at the altar of #kleptocracy #debt #bankruptcy

6 months ago

Via Scott MacFarlane:

So far... 20 amendments have been formally proposed to the #Debt#Ceiling legislation. Most from Republicans, but some from Democrats

One Democratic amendment strips Mountain Valley pipeline project in Virginia

One GOP amendment expedites next debt ceiling date to Sept 30 2024

Flipboard News Desk
6 months ago

Here’s what’s in, what’s out of the debt limit bill to avert U.S. government default.

From the AP:

#DebtCeiling #Debt #Default #Congress #Biden #USPolitics

6 months ago

“Biden and the Democrats created the #debtCrisis. They need to take responsibility to fix it—not to kick the can down the road for another few years," —Rep. Dan Bishop (R-NC)

This guy is either dreadfully misinformed, or a shameless liar. I'm going with both.

#Biden has nothing to do with current crisis. #Trump and the #Republicans did it. They added $8 trillion to the #debt—a whopping 30% of the total. This is about paying for the spending they already authorized.

6 months ago

I'm so close to meeting my fundraising goal of $3500 by my birthday! This will allow me to completely clear one of my debts!

#mutualaid #gfm #crowdfund #debt #BlackMastodon #birthday #disability #Autism