Debt Rattle May 9 2017
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Pablo Picasso Self portrait 1938 • Macron Is Not The Solution To Europe’s Top Existential Threat (CNBC) • “Europe’s Not Out Of The Woods With M
[See the full post at: Debt Rattle May 9 2017]MMT believes, I think, that debt can grow faster than output in perpetuity. I am skeptical about that assumption, but MMT proponents may be right (no, they won’t).
“These loans are for people who have no choice but to borrow to buy a car, and no bargaining power on the interest rate they pay: close to 20%. Even though the borrowers pay through the nose, they depend on cheap global credit.”
Really? 250 million used cars on the road in america at the moment and they have no choice? I dunno but I think people may need to get used to the idea of re-use and recycle if they want to get ahead. My whole house is made of other people’s junk and my wife and I have never bought a new car and paid cash. People need to life-hack the system some more me thinks.
“In Beirut (Lebanon), it is often mentioned that while Turkey and Jordan are able to negotiate billions of dollars for hosting the refugees on their soil, Lebanon is only given empty promises from the EU and the rest of international community. It is also being threatened with legal consequences, in case it were to decide to remove the refugees by force (the West’s allies like Thailand regularly remove refugees by force, often even killing them, but there are never any substantial threats delivered. Several European countries are also forcing refugees to leave).”
The hypocrisy of the EU and the USA is staggering.
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