Debt

This tag is associated with 9 posts

US / We are creating a permanent class of jobless Americans writes Krugman

There is, unfortunately, growing evidence that the tainting of the long-term unemployed is happening as we speak. One piece of evidence comes from the relationship between job openings and unemployment. Normally these two numbers move inversely: the more job openings, the fewer Americans out of work. And this traditional relationship remains true if we look … Continue reading

Eurozone / Panic-driven austerity: the more intense the austerity, the larger is the subsequent increase in the debt-to-GDP ratios study finds

“How well did this panic-induced austerity work?” “Some will say that this is the price that has to be paid for restoring budgetary orthodoxy. But is this so?” Those are the questions asked by Paul De Grauwe andYuemei Ji in Panic-driven austerity in the Eurozone and its implications. (Quotes to follow) We provide some answers in Figures … Continue reading

Public Debt / The situation has been far worse after WWII

Figure 1 provides a broad historical perspective of debt developments in advanced, emerging, and low-income economies. Debt levels in advanced economies (now the G20) averaged 55% of GDP over 1880–2009, with a number of peaks and troughs that correspond with key historical events along the way. – During the first era of financial globalisation (1880–1913), … Continue reading

Greece / Agreement reached between euro zone finance ministers and the International Monetary Fund to reduce debt

The Greek government and financial markets were cheered on Tuesday by an agreement between euro zone finance ministers and the International Monetary Fund to reduce Greece’s debt, paving the way for the release of urgently needed aid loans. The deal, clinched at the third attempt after weeks of wrangling, removes the biggest risk of a … Continue reading

Highly Educated – The Biggest Debt Problems

A new study finds that highly educated Americans were most likely to take on unmanageable debt in the pre-crisis years. What’s more, gross personal financial mismanagement occurred across the population and not just in the mortgage market and not just among the unsophisticated. The study draws a line at the point where monthly payment on household debt equals 40% … Continue reading

At The Root Of the Global Job Gap | Finance and economic growth delinked

The neglect of credit and debt in economic theory continues to produce muddled policy thinking. Take the tendency to protect banks lock, stock and barrel, at huge costs. The mantra is that if we let banks go bankrupt, that will ruin the economy. This is a nifty inversion of the truth: it is precisely the … Continue reading

Some Law Students are graduating with more than $150,000 in debt

Among 195 ranked law schools surveyed annually by U.S. News, 191 reported the average indebtedness of graduating students in 2011, the most recent figures available. Overall, law students graduated with an average of $100,433 in debt, though at some of the schools with the most heavily debt-laden students, graduates faced an average debt of more … Continue reading

Indiana’s $2 billion unemployment debt

Our Team continues our investigation into alleged mismanagement of the state’s unemployment system, turning now to who’s in charge of watching over the agency. Current and former employees came forward to I-Team 8, exposing that they were told to use questionable tactics to reduce the workload of an overwhelmed system. Our questions now turn to … Continue reading

For the first time the European Central Bank is recognizing the need to address a core drawback in the euro architecture, itself. – Brookings Institution

An increasing number of observers have hastened to declare that the European debt crisis has been practically resolved or at least stemmed for a few years. This view was reinforced by the falling yields at the last Italian government bond auctions of 2011, which suggested a significant reduction in the perceived sovereign default risk. Since … Continue reading

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