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.
Geopolitics
The Electronic Intifada: Settler violence hits record level
Jewish settler violence against Palestinians in the occupied West Bank has reached record levels. October was on track to be “the most violent month” since UNRWA, the UN agency for Palestine refugees, began documenting settler […]
Austerity
Bill Mitchell: The Greek colony remains in depression
“If one ever needed reminding of the colony status of the once magnificent Greek nation you just have to consider that statement. The EU institutions consider it appropriate that democratically-elected governments in the EMU should […]
EU politics
UNOG: SWITZERLAND NEEDS TO STEP UP WORK TO CURB ILLICIT FINANCIAL FLOWS – UN EXPERT
The UN is always very diplomatic in its criticism, thus this is saying that Switzerland is continuing its old money laundering and tax regime practices . With regard to money laundering they write: “It is […]
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