#public debt

[dontmean2bepoliticalbut]

#us politics #republicans #conservatives #donald trump #gop #trump administration #economics #economy #unemployment rate #tax breaks #public debt #health insurance #gun production #culture wars #corporate profits #economic turmoil #2024 elections #memes

[pharosproject]

The "legacy" of Nancy Pelosi

#Nancy Pelosi #democrat hypocrisy #liberal hypocrisy #hypocrisy #debt #public debt #government debt #democrat gaslighting #gaslighting #democrats are evil #democrats are hypocrites

[workersolidarity]

🇺🇳🇺🇲 TOTAL GLOBAL DEBT WAS US$92 TRILLION AS OF 2022

TOTAL US PUBLIC DEBT IN 2022 WAS $31 TRILLION

MEANING THE UNITED STATES IS RESPONSIBLE FOR JUST A HAIR OVER ONE THIRD OF GLOBAL PUBLIC DEBT.

Understand that no other country on earth can print money and just spend it the way the United States does because the rest of the world doesn't have sovereignty over the World Reserve Currency.

If any other country attempted to print money and manipulate markets the way the United States does, first off we'd sanction them for having an independent policy, and secondly, it would rapidly result in runaway inflation.

But because the US has sovereignty over the World's Reserve Currency, the United States can and does manipulate markets and print money however it likes, and the rest of the world, especially in the Global South, are literally forced to subsidize this US debt by buying US dollars at horrible exchange rates that favor Western countries in order to do trade, oftentimes with countries that have NOTHING to do with the United States because that's just how the international system has been designed (by the US and UK) to force countries to trade in dollars using Western banks.

And this advantage is baked into the system itself.

This means foreign countries in the Global South are subsidizing the very Imperialism oppressing them, subsidizing the 900 or so US military bases around the world.

@WorkerSolidarityNews

#debt #public debt #us public debt #us debt #us imperialism #imperialism #us hegemony #hegemony #western imperialism #colonialism #western colonialism #neocolonialism #neoliberalism #socialism #communism #marxism leninism #socialist politics #socialist news #marxism #socialist #communist #marxist leninist #politics #national debt #world bank #IMF #multipolarity #multipolar world #WorkerSolidarityNews #news

[govtshutdown]

Calling it now, DOA.

#House Republicans #House GOP #Speaker Kevin McCarthy #Congressman Chip Roy #Republicans #emergency plan #debt limit #budget negotiations #$31 trillion #debt ceiling #public debt #U.S. Treasury #Congress #House of Representatives #divided government #Government Shutdown?

[instaviewpoint]

Debt Discrimination

April 26 2024 By PK Morgan Most of the middle and lower classes have worked all of their lives to support their families. It’s not always easy and speed bumps called financial crisis are scattered everywhere. Our solution was rarely found in asking our country to pay our way out of debt that we freely took on to feed our children or buy that shiny new car.  We worked to pay it off. But…

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#biden #CBO #debt #economic forecast #federal wages #public debt #student loan Forgiveness #trillion

[kntxt]

"On Chinese Currency: Coin and Paper Money" (1877) by Willem Vissering - PDF: https://upload.wikimedia.org/wikipedia/commons/c/c7/On_Chinese_Currency_-Coin_and_Paper_Money_By_Willem_Vissering%281877%29_-_Version_2.pdf

Full disclosure: I haven't read the book myself. Was brought to my attention by TXMC: https://www.youtube.com/watch?v=Ytjzfjz5Bzk

#kontext #quotes #quote #economics #debt #public debt #pseudocapitalism #memes #meme #paper money

[authne]

India's Debt: Not Risky as China's, But rather Still a Concern

India’s debt is a complicated issue with a long history. The country’s debt-to-Gross domestic product proportion has been on a consistent ascent lately, and presently remains at 81.9%. This is like China’s debt-to-Gross domestic product proportion of 83%. In any case, the dangers related with India’s debt are not so perfect as China’s. India has a more youthful populace and a higher development…

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#Debt sustainability #Debt-to-GDP ratio #External debt #Fiscal deficit #Government borrowing #India&039;s debt #Public debt

[taarifaleo]

Busia Senator Calls for Debt Audit and Redistribution of Payments

Busia Senator and prominent activist, Okiya Omtatah, has taken to social media to call for a comprehensive audit of Kenya’s debts and a redistribution of payments based on the beneficiaries. Omtatah argues that those debts that have directly benefited Kenyans should be prioritized for repayment, while those that have not served the interests of the country should be shouldered by those who…

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#Kenya #Omtatah #Public debt

[sgreffenius]

So there you are.

Congress cannot force a default.

#public debt #debt default

[bumblingfloob]

I owe the Israelis 10 dollars

If you don't hear from me, you know what to do

#please help #public debt #cripplingdebt #10 #dollars #10 dollars #israel #helpme #bodyfound #gobots

[janieunknownwriter]

pCelebrated economist Michael Hudson thinks that the world of academic economics is both deceptive and essentially wrong in its formulations of the role of money and debt.  Hudson says today’s oligarchic monetary systems invariably reinforce the flow of profits from labor to the top of the economic ladder.  The result is unsustainable debt, which he says is an historical pattern that goes back a couple thousand years. Something has to give. Ellen and Michael spend the hour discussing what that might look like./p

#public debt #national debt #debt relief #debt ceiling #debt #economics #economy #finance #financial #moneycontrol #money

[thenationview]

This is how the Stability Pact changes in Europe. And for Italy the result is bittersweet

This is how the Stability Pact changes in Europe. And for Italy the result is bittersweet

Differentiated debt repayment plans depending on the state. Most frequent penalties (including risk of losing PNRR money) The Stability Pact in the EU is currently suspended, but will come into force again from 2024. However, it will never be the same. The rules will no longer be the same for everyone. The 60% debt-to-GDP and 3% deficit limits remain, but each state will have its own specific…

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#European Union #Italy #Public Accounts #public debt #stability pact

[govtshutdown]

So much for getting some rest for a few months.

#debt limit #emergency measures #negotiations #Congress #Public Debt #$31 trillion #extraordinary measures #default #irreparable harm #U.S. Treasury #Treasury Secretary Janet Yellin #Government Shutdown?

[dayofbanks]

Support member States’ efforts to implement macroeconomic policies towards inclusive growth and sustainable prosperity.

The Arab region’s need for government spending is increasing, but government revenues are not rising in parallel. Governments are therefore resorting to borrowing to finance their spending needs. Consequently, government debt is rising to unsustainable levels because of inefficient public finance management and the lack of a prudent fiscal policy response to public debt, thus exacerbating the debt service burden, stressing the already limited fiscal space, and impeding budgeting towards social development priorities.

#macroeconomics #arab countries #government debt #public finance management #fiscal policy response #public debt #Escwa #inclusive growth #sustainable prosperity

[politijohn]

Source

Sad but completely unsurprising…

Cancel all student debt.

#education #public health #health #students #current events #news #government #the left #progressive #cancel student loans #cancel student debt

[redghnews]

Ghana’s unsustainable debt: From theoretical perspectives – crowding out, debt hangover and default effects

Ghana’s unsustainable debt: From theoretical perspectives – crowding out, debt hangover and default effects

This paper attempts to analyze the theoretical perspective behind Ghana’s unsustainable debt over the past fourteen years. This inquiry is important from the standpoint of the reasons that have been discovered to be the core of the rising Ghana debt. The research is a qualitative study that is based on secondary data gleaned from the Ministry of Finance and Economic Planning Annual Debt Reports…

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#Budget deficit #Crowding Out #Debt Overhang #Default Effects #Ghana #Public Debt