In the US, mortgage applications are now down 50% and at the lowest levels since 1994. Credit card defaults rates are higher than in 2008. Is the debt bubble about to burst?
Read the article HERE.
Ann Pettifor: On the bursting of bubbles
Economics
Heiner Flassbeck: Hello, wake up! It’s a recession!
German politicians are in denial about the state of the nation. Read HERE Image: Al2/Creative Commons
Economics
Bill Mitchell: Champagne socialists in the banking sector reaping millions from public money
The rate hikes now being implemented by most central banks are not just allowing the commercial banks to widen spreads between deposit and lending rates which will generate significant windfall profits for the banks and […]
Austerity
Jonathan Portes: Austerity really has hit poor people hardest – the figures prove it
Still another study proving that austerity hits the poorest the hardest in the UK – and everywhere else for that matter. How many more such studies do we need before something changes. Under the Tories […]
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