For the first time in four years, Greece has acquired fresh money from the bond market. But amid explosive demand, and euphoria among investors, a study released by a research centre in Freiburg warns of premature optimism. EurActiv Germany reports.
Wenn Großeltern über meine Generation reden, sagen sie oft, wir hätten es ja so gut. Es stimmt, wir haben keinen Krieg erlebt, keine Vertreibung und wir hatten immer genug zu essen. Objektiv gesehen könnte man sagen, wir haben Glück gehabt. Wenn da nicht die Zukunft wäre. Meine Generation hat viele Namen: Generation Praktikum. Generation Burnout. Generation Altersarmut.
Iceland won a landmark court case on Monday over its refusal to immediately cover the losses of British and Dutch depositors who lost money in Icesave, a failed Icelandic bank.
Center for Economic and Policy Research, Economic Policy Institute, OMB Watch, OpenThegovernment.org, Project On Government Oversight, and Taxpayers for Common Sense.
The Baseline Scenario is dedicated to explaining some of the key issues in the global economy and developing concrete policy proposals. Since it was launched in September 2008, this blog has been cited by The New York Times, The Wall Street Journal (Real Time Economics), The Economist (Free Exchange), The Financial Times, Time Magazine, NPR (Planet Money), and many other sites...
Nomi Prins is the author of Other People's Money: The Corporate Mugging of America and Jacked: How "Conservatives" are Picking Your Pocket (whether you voted for them or not). She is a former managing director at Goldman Sachs and ran the international analytics group at Bear Stearns. Ms. Prins is a senior fellow at Demos.
Saturday's $700 billion junk mortgage bailout is the largest and worst giveaway since a corrupt Congress gave land grants to the railroad barons a century and a half ago. If it goes through, it will shape the coming century by giving finance unprecedented power over debtors - homebuyers, industry, state and local government, and the federal government as well.
Nobody expected industrial capitalism to end up like this. Nobody even saw it evolving in this direction. I'm afraid this failing is not unusual among futurists: The natural tendency is to think about how economies can best grow and evolve, not how it can be untracked. But an unforeseen road always seems to appear, and there goes society goes off on a tangent.