26 Jul '11, 7pm

Debt Tantrum on a Sinking Ship

Debt Tantrum on a Sinking Ship

President Obama and House Speaker Boehner are both right, but they’re both tragically wrong. And unless they can somehow wake up and see why they’re wrong, we all lose—big time. Let me explain. But to do so will require setting three levels of context. The immediate context is of course the fact that Republicans have created a political crisis by refusing to raise the nation’s debt ceiling unless they achieve their priorities of dramatically reducing government spending—primarily on social programs. A larger context is the fact that the U.S. is still reeling from an epic credit crunch. During the past decade, home prices were bid up to unrealistic levels and the financial industry magically and dramatically expanded the resulting bubble with the helium of securitization and derivatives. When the bubble popped, government bailouts and stimulus packages were deployed to prev...

Full article: http://www.postcarbon.org/blog-post/420608-debt-tantrum-o...

Tweets

The debt ceiling and your money

The debt ceiling and your money

mnn.com 29 Jul '11, 2am

In just five short days, the nation will “run out of money” if the debt ceiling is not raised. The topic is causing a huge...

Friends of the Earth urge rejection of debt cei...

foe.org 01 Aug '11, 5pm

Contact: Kelly Trout, ktrout@foe.org , 202-222-0722 Nick Berning, nberning@foe.org , 202-222-0748 Friends of the Earth urg...

Searches reflecting concerns over debt ceiling

Searches reflecting concerns over debt ceiling

weblogs.hitwise.com 27 Jul '11, 7pm

The variations themselves highlight consumer interest in understanding ‘what is the debt ceiling’, the history of debt cei...

Debt ceiling proposals not so eco-friendly

Debt ceiling proposals not so eco-friendly

mnn.com 28 Jul '11, 9pm

Back in December 2010, Interior Secretary Ken Salazar announced that the federal government would designate millions of ac...

debt ceiling deal will result in massive cuts t...

wilderness.org 01 Aug '11, 6pm

The Wilderness Society said today that the congressional accord on the debt ceiling puts the U.S. on the brink of defaulti...

Oil prices drop on US debt standoff, GDP data

channelnewsasia.com 29 Jul '11, 8pm

NEW YORK: Oil prices fell on Friday as an unexpected dose of bad data on the US economy roiled markets already unsettled b...

The US could still lose their AAA debt rating despite the approval of a deal to raise the debt ceiling, say analysts

The US could still lose their AAA debt rating d...

straitstimes.com 02 Aug '11, 2am

Even though the House of Representatives approved a deal to raise the federal government's debt ceiling, the US could stil...

Here’s how the debt deal could spell doomsday f...

grist.org 02 Aug '11, 5pm

The debt deal Washington just passed is going to pit defense spending against the budgets of the DOE, EPA and incentives f...

Curious if #US soldiers get paid if there's no ...

sg.finance.yahoo.com 30 Jul '11, 3pm

Mullen faces troop concern on pay amid US debt row On Saturday 30 July 2011, 23:06 SGT The United States' top military off...

Singapore shares rise on US debt deal

channelnewsasia.com 01 Aug '11, 10am

SINGAPORE - Singapore share prices ended 0.8% higher on Monday amid stronger Asian stocks as investors cheered news regard...

US dollar slides as debt talks sputter

channelnewsasia.com 25 Jul '11, 10pm

NEW YORK: The US dollar slid against the euro and the yen on Monday, while gold prices jumped again, as politicians in Was...

DBS well protected against possible US debt ratings downgrade

DBS well protected against possible US debt rat...

channelnewsasia.com 28 Jul '11, 3pm

SINGAPORE: DBS Bank says it is keeping a close watch, and is well guarded against debt problems in the US. Its CEO Piyush ...

Crude oil prices surge in Asia as US reaches de...

channelnewsasia.com 01 Aug '11, 6am

SINGAPORE : Crude oil markets rallied in Asian trade on Monday amid relief at the announcement of an elusive US debt deal,...

After debt deal, energy and environmental progr...

e360.yale.edu 02 Aug '11, 6pm

02 Aug 2011: Energy Programs Brace for Deep Spending Cuts After Debt Deal The debt deal reached by the White House and Con...