We have been here before. To keep the economy too much money has been leant to those who cannot repay their debts. It does not take much imagination to guess what follows.
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Positive Money: UK consumer credit approaches 2008 peak
Economics
Matt Stoller: Too Big to Sail: How a Legal Revolution Clogged Our Ports
We are now in a giant parking lot game that threatens the global economy. Thank deregulation and the Ocean Shipping Reform Act of 1998. Read here
EU politics
Bloomberg: Browder Laundering Complaint Shows $97 Million Nokia Payment
The reputation of Scandinavian banks is going from tarnished to sullied, from hygga to organised crime. Read here
Austerity
Helena Smith: Has Greece finally escaped the grip of catastrophe?
This article rounds out the picture of the current situation in Greece described in our two articles of today (here and here) Read here
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