Who says that trickle down does not work?. For almost two years progressive economist have been hammering away that although governments have debts, they also have assets. Translated, you may have a mortgage of 100,000 euros (Heavens above, you are in debt!), but a house worth 500,000 euros (actually not so bad). While in many instances, public debt cannot be compared to private debt, in this one instance you can. If the British government purchases the railways, it may have debt, but it also has the railways. It took a while, but Aditya Chakrabortty has always been the intellectual avant garde among journalists. Other journalists will follow – and this fact will eventually reach voters. Hopefully before the general elections.
Climate Change
Yale Environment 360 – Energy Hogs: Can World’s Huge Data Centers Be Made More Efficient?
Data centres eat up more than 2 percent of the world’s electricity and emit roughly as much CO2 as the airline industry. This is a fact that is conveniently being ignored. Read here
Finance
Shaun Richards: The Novo Banco saga has been one of misrepresentation and woe
Ín 2014 Portugal’s Central Bank bailed out the Banco Espírito Santo, S.A with 4.4 Billion Euros. Banco Espírito Santo, was, as so often the case when banks are “saved”, split into a bad bank with all […]
Austerity
Aditya Chakrabortty: Why do we let greedy financiers profit from the pain of foster children?
Privatisation is destroying our society. Once again Aditya Chakrabortty takes a tiny sliver of society and shows how the “free market” is destroying everything it touches, be it people or environment. Profit is all that […]
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