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Can large primary surpluses solve Europe’s debt problem? | vox

Barry Eichengreen, Ugo Panizza, 30 July 2014 For the debts of European countries to be sustainable, their governments will have to run large primary budget surpluses. But there are both political and economic reasons to question whether this is possible. The evidence presented in this column is not optimistic about Europe’s crisis countries. Whereas large primary surpluses for extended periods of time did occur in the past, they were always associated with exceptional circumstances. Full...

voxeu.org

3 hrs ago

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voxeu.org

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85 Super Wealthy People Have More Money Than The Poorest 3.5 Billion Combined

The global economy is structured to systematically funnel wealth to the very top of the pyramid, and this centralization of global wealth is accelerating with each passing year. According to the United Nations, 85 super wealthy people have more money than the poorest 3.5 billion people on the planet combined. Seven out of every ten people on the planet live in countries where the gap between the wealthy and the poor has increased in the last 30 years... And when our fundamentally flawed...

zerohedge.com

2 hrs ago

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zerohedge.com

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Guest Post: Why Impeachment Is Necessary

The issue of impeachment is now no longer whispered about. Talk is prevalent and a recent poll indicated that 35% of the public believe the president should be impeached. Interestingly, the topic is being promoted more by Democrats than Republicans. Democrats don’t truly believe the President should be impeached, but they see it as a chance, likely their only chance, to bolster their election possibilities this November.

zerohedge.com

3 hrs ago

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zerohedge.com

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On Dominoes, WMDs And Putin's "Aggression": Imperial Washington Is Intoxicated By Another Big Lie

Imperial Washington is truly running amuck in its insensible confrontation with Vladimir Putin. The latest round of new sanctions is a counter-productive joke. But it is the larger narrative that is so blatantly offensive - that is, the notion that a sovereign state is being wantonly violated by an aggressive neighbor arming “terrorists” inside its borders. Once again, the American Warfare State has confected a false narrative to justify policies and missions that have nothing to do with the...

zerohedge.com

3 hrs ago

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zerohedge.com

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Photos Emerge Of 10 "Active Militia Teams" Securing The US-Mexico Border

With 1000s of illegal immigrants crossing the US-Mexico border every day (perhaps even more now some of the border has been washed away), the government quietly dumping them in Tennessee (among other places), and current (recently constructed border protection infrastructure already breaking down), it appears the American people are taking matters into their own hands. Photos showing dozens of members of militia groups on the U.S.-Mexico border carrying semi-automatic rifles and wearing masks,...

zerohedge.com

23 hrs ago

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zerohedge.com

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