It wasn't too long ago when austerity and cutting public spending was the only game in town. We would"fix the roof while the sun was shining" and promote economic growth by cutting debt levels, with global leaders clear that if borrowing was too high, the consequences would be severe.
There are now few Western economies with debt below this"dreaded" 90 percent. The U.S.'s debt-to-GDP ratio stands at just under 97 percent, The U.K.'s at around 102 percent, Italy at 158 percent and Greece at 213 percent. There are a number of exceptions in the West - Germany, Australia and The Netherlands being the major ones - but they are exceptions.
Trading on Wall Street was halted immediately after the opening bell in March as stocks posted steep losses following emergency moves by the Federal Reserve to try to avert a recession due to the coronavirus pandemicThe research has been widely discredited but the view behind it was not a new one.
"Governments should accelerate spending pretty much at any cost, given the current circumstances because of the depth of the recession we're facing and worry about the consequences later on."
There is no taxpayer money, there is only public money.
Who's $277 trillion in surplus?
It is not money that matters It is more money
Money has zero intrinsic value! Its a fictitious economic tool, a marketing lubricant, a social sieve. There is no debt, there is no natural interest. Do not hoard resources. UBI SinglePayer
Because for every $ of debt, the world also has 1 $ of financial assets, so the world's net debt is zero, and its net worth equals its total NONfinancial assets.
Wait I'm confused. Are bank deposits debt?
TooManyEmmas the planet:
I'm curious how someone like Jeff Bezos has 190 Billion dollars, it's not cash stacked up in a room. How can they really include assets as wealth
Debt to who?
Because it's not their money.
Worrying ship sailed off a while ago.
Money is imaginary. Clear the slate and start over. Crazy but think about it.
Don’t worry; they’ll print more.
Who does the world owe money to?
Because the majority of global stock is already owned by the uber rich.
Uh, My debt cancels your debt. The money that you gave to me was the money that I gave to him to give to you? Laurel and Hardy did that about a century ago. Slim.
I can’t believe we owe Mars that much
because fiat currencies are a thing.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.