fix articles 8159, indebtedness
China's 6.9% Growth: The Superiority of the Plan (tags)
China has brought hundreds of millions out of poverty in only three decades thanks to the opening of the economy. In 1978, 90% of the population lived below the absolute poverty line of $1.90 a day. Today, there are `only' 43 million, three percent of the population of 1.4 billion.
Trump - Hard as Steel (tags)
There is outrage over the nationalist economic policy of "America First." The parallels to the 1929 system crisis are obvious. The unstable house of cards could now finally collapse. Credit-financed demand is created for a goods-producing system that suffocates in its own productivity.
State Indebtedness as a Power Strategy (tags)
Contracting debts exploded under neoliberalism since the 1980s - unlike the state debts in the Keynesian era from the 1950s to the 1970s - and produced s structural debt bondage for the overwhelming majority.
Neoliberal Austerity Leads to Deeper Crisis (tags)
A high state share in the economy, developed social states and readiness to intervene actively and anti-cyclically prevent falling into a depression. Trump's demonizing regulation, Medicaid, public schools, Head Start, Meals on Wheels, taxation and democracy must be resisted
State Indebtedness: The Beloved Enemy (tags)
"The slow one now will later be fast as the present now will later be fast." The state unlike the Swabian housewife can become indebted to invest in a more social and more human future. All personal and corporate profit depends on state investment in roads, schools, food safety etc.
Learning from Roosevelt: HIs "New Deal" (tags)
The Civilian Conservation Corps helped overcome the basic pessimistic mood in society. Within a few months, 500,000 young persons had hope again. The government should intervene in case of an economic emergency.
Cancellation of Illegitmate Debts Instead of Bailout Umbrellas for Financiers (tags)
The inflation of public indebtedness was an essential element for the enhanced power of financial capital. That inflation was a result of a conscious under-financing of the state and is a lever to enforce an austerity policy. Financialization intensified the pressure to precariousness.
Downward Spiral (tags)
To Krugman, the increasing ideological blindness of German politicians can only be explained by their belief that "hard times must be the necessary punishment for earlier excesses." Krugman overlooks that the hard times and excesses do not concern the same people.
The Systemic Causes of the Crisis (tags)
The crisis is 30 years old, not 4 years old. The causes of the crisis can be found in the real goods-producing economy, not in the financial markets. The wildly proliferating financial markets did not drag the industry into crisis but kept alive the industry through credit-financed demand.
The Crisis Explained (tags)
So much crisis was never analyzed with a crisis-conditioned satisfaction guarantee! Instead of seeking culprits, we must seek the systemic causes of the indebtedness dynamic. These gigantic debt mountains were necessary to keep capitalism functioning. Fewer and fewer workers can producer more and more goods in an ever-shorter time.
"The illegitimate debts must be cancelled" (tags)
A neoliberal tax policy followed for twenty years drastically lowered the taxes paid by private corporations on their profits, above all by big business. The debts are not an incomprehensible plague but the result of a conscious and completely unjust policy.
Collapsing Debt Towers (tags)
The crisis is 30 years old, not three years old. The causes of the crisis should be tracked down in the real goods-producing economy, not in the financial markets. The financial markets were keep alive up to the collapse of the speculative bubble by credit-financed demand.
Politics in the Crisis Trap (tags)
A discontinuance of debt-financed economic programs leads to an economic slack period resulting in stagnation and recession. Crisis policy finds itself in a philosophical paradox. The political class can only choose between more indebtedness up to state bankruptcy (with hyper-inflation) or harsh austerity programs.
With PPP, Public Treasuries are Plundered (tags)
According to the neoliberal myth, higher profits lead to increased investments and more jobs. In truth, investments have declined in this decade. Corporations used their profits to speculate on foreign currencies and buy back their own stock. Crises are chances to rethink private and public.
The U.S. is More Greek than Greece (tags)
Deficit economies were organized mainly by finance capital. The expansion of this credit-financed mass demand went along with the expansion of the financial sector. Trillions of dollars and Euros were pumped in the stabilization of financial markets.
Clouds of Chimerica (tags)
Dependence paralyzes superpowers. Washington urges Peking to upgrade its currency which China's economy cannot handle. China-bashing is an absolute necessity in the upcoming election campaigns.
De-industrialization reduces the long-term wealth-formation of broad sectors of the population. An extremely high indebtedness of private households also contributes to the disastrous total deficit of the US.
Hard Landing of the Dollar (tags)
The decline of the US dollar signals the economic weakness of the superpower and the structural crisis of capitalism. Since 1985 the US has become heavily indebted fo foreign countries. This foreign indebtedness amounts to 35 percent of the GDP.
Capital Logic on Trial (tags)
"Rainer Roth in The House of Cards puts the mechanisms of the capitalist economy on trial.. To counter the long-term descent of profit rates, the tax burden for businesses, a constant 21% from 1960 to 1980, has spiraled down to only 8% today.."