Podcasts about foreign debt

In this episode, Jake and Justin sit down with Parker Lewis to unravel the truth about Bitcoin's future. Parker, a highly sought-after author and thought leader in the Bitcoin space, shares his journey, insights, and the core principles that shape his perspective on the economic revolution driven by Bitcoin.- Discover how Parker's book, "Gradually, Then Suddenly," provides a clear, layman-friendly analysis of Bitcoin's impact on monetary policy.- Explore the intersections between Bitcoin, economic policies, and the foundational principles of money.- Understand the potential of Bitcoin as a solution to the problems posed by fiat currency and central banking systems.- Gain insights into Parker's logical framework for understanding Bitcoin's value and its role in the future of global finance.Parker Lewis, with his extensive background in economics and finance, dives into the complexities of Bitcoin and its inevitable rise as a global reserve currency. His book, which has garnered significant acclaim, aims to make Bitcoin comprehensible for everyone, from young adults to seasoned economists.What's wrong with our current monetary system? Why is fiat currency failing us? Parker tackles these questions head-on, revealing the inherent flaws in our economic structure and how Bitcoin offers a robust alternative.Why Bitcoin and not gold? What sets Bitcoin apart from traditional monetary systems? Parker's contrarian take will challenge your preconceptions and provide a fresh lens through which to view the future of money.From the intricacies of Bitcoin mining to the economic principles that underpin its value, this episode is packed with insights that will deepen your understanding of the Bitcoin landscape.Parker Lewis is a renowned author and Bitcoin advocate. His work, including his acclaimed book "Gradually, Then Suddenly," has been instrumental in educating a broad audience about the transformative power of Bitcoin. He regularly speaks at Bitcoin meetups and conferences, sharing his expertise and passion for economic freedom and innovation.0:00 - Intro1:00 - Parker's Book9:12 - Parker's Mission21:06 - Your Journey to Bitcoin26:50 - Spiritual Aspect of Bitcoin28:50 - Bitcoin as an American Revolution37:30 - Modern Monetary Theory40:00 - Politicians' Self-Interest47:50 - The First Article57:45 - Dollar Hyperinflates1:00:10 - Bitcoin as the Exit1:05:35 - Foreign Debt and Definancialization1:10:25 - Bitcoin as a Hedge Against Inflation1:19:42 - Where to Buy the Book1:23:35 - Can Bitcoin Be Banned?1:31:11 - Thank You, ParkerFind us here

Trade union representatives from 35 African countries protest against foreign debt +++ How can African countries get out of the foreign debt trap? +++ The link between water and peace in Sierra Leone +++ Is it worth being an author in Africa? +++ Showbiz

August 31, 2023 - New Yorkers for Fiscal Fairness Director Ron Deutsch makes the case for legislation that would limit the ability of private creditors in New York to extract dramatic concessions from foreign countries that are defaulting on their debt.

Western Lecturing Vs. Indian/ African Lecturing. How can everyone living in glass houses lecture others... Why is there so much debt?Poverty, Abject poverty's solutions.#Poverty#DebtListen on... & FOLLOW!!!! Hosted on Acast. See acast.com/privacy for more information.

We've hit the 80s and Reagan's low tax and defence spending have contributed to the America's worst foreign debt in history. It turns out the US has consistently been in debt, so why does this time matter? Well, because they're borrowing heavily from the Japanese, and have turned from creditors to creditees. It leads to the deindustrialisation of the Midwest, the rise of Sony and the Walkman, and even Bill Clinton's affair with Monica Lewsinky… But why did kids like Billy care? What does it mean for America's political future? Can America ever be debt-free? Does that even matter? Iwan Morgan has even returned to talk us through it all! He's sort of like a walking Economics for Dummies, which is perfect for a pair of economic dummies like us…. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ghana announced the suspension of payments on most of its external debt, effectively defaulting on its debt obligations as it faces its worst economic crisis in decades. The country suspended payments on its Eurobond, commercial term loans, and most of its bilateral debt, a week after a $3 billion agreement with the International Monetary Fund. The IMF had demanded a comprehensive debt restructuring as a condition for support. Ghana's finance ministry called the decision an interim emergency measure. It said the government stands ready to engage in discussions with all of its external creditors to make Ghana's debt sustainable.

A Patron of Democracy at Work asks: "My question is regarding global south countries that are (1) highly indebted to foreign institutions like the IMF, and World, other countries and are stuck in a debt trap, and (2) are highly dependent on remittances from expat workers, as well as exports to meet their balance of payments problems. Just to meet their debt servicing commitments they end up having to borrow more. How can these countries escape their balance of payments problem? Does either increasing local taxation of working classes or the local elite help? If not, then what would?"

Online-talk with Professor Michael Hudson and Mathew D. Rose, November 1, 2022 A Cooperation of Helle Panke e.V. with Brave New Europe, OXI and Rosa-Luxemburg-Foundation. Read on Brave New Europe: "Michael Hudson – The Euro Without German Industry" https://braveneweurope.com/michael-hudson-the-euro-without-german-industry To support our work please donate via PayPal to: info@helle-panke.de The world is now dividing into two parts: A high-cost US and NATO-centered world of finance capitalism that has become post-industrial and debt burdened, and a China- and Russia-centered Eurasian mixed economy in which basic infrastructure is provided as a public service at subsidized prices or freely, in which the monetary and financial system is a public utility aimed at providing credit for the “real” economy instead of loading down real estate and existing assets with debt. He will be switched on via ZOOM. Prof. Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of Super-Imperialism: The Economic Strategy of American Empire (Editions 1968, 2003, 2021), ‘and forgive them their debts' (2018), J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), amongst many others. He acts as an economic advisor to governments worldwide including China, Iceland and Latvia on finance and tax law.

This week we talk about foreign debt which I honestly don't know much about. So we just blab on and on about it.

After going gangbusters in July, share markets in the US (and SA) took a breather yesterday easing back a few points. On the local market, a trading update from coal producer Thungela Resources revealed a 20x jump in its profits for the six months to end June, supporting a surge from R80 to almost R300 in its share price this year. Also in this episode of the BizNews Breakfast Briefing, China is moving back onto centre stage as its Belt and Road initiative hits major obstacles with some recipients of Beijing's loans needing to expand them just to meet interest commitments. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back, to another clip from Doc's Thought of the Day. Today Doc the fact that Putin was forced to let Russia's Foreign Debt default despite having the best currency on the planet this year.Follow Us On;Bitchute-https://www.bitchute.com/channel/8SXcz1rqDyu7/YouTube-https://www.youtube.com/channel/UCRNHroldv9kuaatarS7uclAMinds-https://www.minds.com/thatsonpoint/ToP Clips: https://www.youtube.com/channel/UCn_fZ4JhHN05YLijsdmkYSQ/Paler:https://parler.com/profile/DocComeauSupport Us On;Subscribe Star-https://www.subscribestar.com/that-s-on-pointPatreon-https://www.patreon.com/ThatsOnPoint?fan_landing=tru

Welcome back, to another clip from Doc's Thought of the Day. Today Doc the fact that Putin was forced to let Russia's Foreign Debt default despite having the best currency on the planet this year.Follow Us On;Bitchute-https://www.bitchute.com/channel/8SXcz1rqDyu7/YouTube-https://www.youtube.com/channel/UCRNHroldv9kuaatarS7uclAMinds-https://www.minds.com/thatsonpoint/ToP Clips: https://www.youtube.com/channel/UCn_fZ4JhHN05YLijsdmkYSQ/Paler:https://parler.com/profile/DocComeauSupport Us On;Subscribe Star-https://www.subscribestar.com/that-s-on-pointPatreon-https://www.patreon.com/ThatsOnPoint?fan_landing=tru

It's been quite a few couple of days. Unfortunately, the country is increasingly in a delicate position -- economically, politically, and socially. Amid a series of new Supreme Court Rulings, both the left and the right are energized in a whole new way...and, left-wing politicians like AOC are even suggesting some justices should be impeached. Meanwhile, other lawmakers are pushing for more justices to be added to the bench. So, what will this all mean politically? I'm digging in -- and it could spell trouble for conservatives. Meanwhile, the economy is continuing to represent a serious risk. Between Russia's default (its first on Foreign Debt since 1918) and rising energy costs, the administration is doubling down on green energy projects in... Angola? Unfortunately, while that may be a long-term goal, it does little to help the American people cope with the $5 gas right now. I explain. Join me by SUBSCRIBING to the daily podcast here. Get more from me on my website https://TrishIntel.com and connect with me on social media:  Twitter — https://Twitter.com/Trish_Regan Facebook — https://www.facebook.com/RealTrishRegan Instagram — https://www.instagram.com/Trish_Regan Locals — https://TrishRegan.Locals.com Support the show: https://trishregan.store/ See omnystudio.com/listener for privacy information.

Canary Cry News Talk #502 - 06.27.2022 SHAMANIC META CONFLICT Sixth Gen War, Slapped, Baby Mammoth TAKE THE SURVEY HERE > https://bit.ly/39VCG4D LINKTREE: CanaryCry.Party SHOW NOTES: CanaryCryNewsTalk.com CLIP CHANNEL: CanaryCry.Tube SUPPLY DROP: CanaryCrySupplyDrop.com SUPPORT: CanaryCryRadio.com/Support MEET UPS: CanaryCryMeetUps.com Basil's other podcast: ravel Gonz' New Youtube: Facelikethesun Resurrection  Gonz' Video Archive: Facelikethesun.Live App Made by Canary Cry Producer: Truther Dating App   LEAD 6:04 V / 3:33 P UKRAINE ‘Shaman' special forces fight across border into Russia, “Handsome” “ Twenty Two” (Times UK)   RUSSIA 24:34 V / 22:03 P → Russia Defaults on Foreign Debt for First Time Since 1918 (Bloomberg, WSJ) Russia-Nato: Metaconflict and the Sixth Generation War (Al Jazeera) note: “…narrative analysis theorist…” → Cyberpandemic: Russia hits Lithuania gov with cyber attacks for retaliation (Reuters)   INTRO (M-W-F)  43:31 V / 41:00 P B&G Update V4V/Exec./Asso./Support   FLIPPY  48:49 V / 46:18 P Miso Robotics Migrates Its Flippy Software to AWS (LA Biz Journal)   [Party, Ravel, Clips, Text, Clue]  57:05 V / 54:34 P NWO website info.   POLYTICKS  1:02:53 V / 1:00:22 P Giuliani slapped by supermarket employee, police say (The Hill) Note on China: G7 unveils $600B plan to combat China's Belt and Road (Politico)  → Belt & Road map   ROE/SATANIST/WITCHCRAFT 1:22:56 V / 1:20:25 P Clip: Mary Miller stumbles, Roe reversal “victory for white life” (CBS) Evil Roe Reaction: Witches, Warlocks Attack Christians with 'Guttural Growls,' 'Demonic Curses'; Satanists to Create Own 'Abortion Facilities' (CBN)   [TREASURE/SPEAKPIPE/BYE YOUTUBE]  1:53:04 V / 1:50:33 P G7 inadvertently makes case for Bitcoin with Russia gold ban (CryptoNews) SEC Chairman Gensler confirms Bitcoin is a commodity (CryptoNews)   COVID/WACCINE  2:13:41 V / 2:11:10 P 40k (13%) Army NG troops, still not jabbed, may lose jobs after Thursday deadline (DailyMail)  Penguin named after Vaccinologist who said we need more prep for “new pandemic” (Guardian) Misinfo will be rampant, COVID-19 shots for young children – do this to counter it (Conversation)   [TALENT]  2:52:00 V / 2:49:29 P   BEAST SYSTEM 3:05:47 V / 3:03:16 P 30k year old preserved wooly mammoth found (DailyMail)   [TIME/OUTRO]   3:13:06 V / 3:10:35 P   EPISODE 502 WAS PRODUCED BY… Executive Producers Darrin S** Juan A**   Producers LovinYah, John M, Sir JC Knight of the Technosquatch, MORV, LX Protocol V2, Sir Casey the Shield Knight, Sir Scott Knight of Truth, Darrin S, Gail M, Veronica D   ART PRODUCTION (Drawing, Painting, Graphics): Dame Allie of the Skillet Nation, Sir Dove Knight of Rusbeltia, BrotherG   CONTENT PRODUCTION (Microfiction etc.): Runksmash: Before he finishes deleting the mice Basil gets an alert and a video pops up in a separate window, he sees emerging from the frigid depths of the Antarctic Sea a troop of pale half rotten Bot Scouts hauling a massive tentacle, it's the recalled UR30!   CLIP PRODUCER Emsworth, FaeLivrin, Epsilon   Timestamps: Mondays: Jackie U Wednesdays: Jade Bouncerson Fridays: Christine C   ADDITIONAL STORIES: G7 commit to sending anti-missile to Ukraine (AP) Record breaking Florida python discovered (Insider) Kellogg splitting into 3 companies (Reuters) Let Your Mind Control the Computer (Neuroscience News)

Included in this episode: 1. What Abortion Safe Haven States Can Do 2. The 2022 NATO Summit Could Be the Most Important in Recent Decades. Here's Why 3. Russia Defaults on Foreign Debt for First Time Since 1918 4. 46 Dead, 16 Hospitalized For Heat Exhaustion After Abandoned Trailer Carrying Migrants Found in San Antonio 5. Instagram and Facebook Are Removing Posts Offering Abortion Pills .

It's a grim marker in the country's rapid transformation into an economic, financial and political outcast

Let's view a clip on Biztech Asian Midday Marketwatch. A discussion between host, Brian Fernandez with guest, Vishnu Varathan, Head of Economics and Strategy, Mizuho Bank. A conversation of insights on regional markets performance as well as talks about regional markets performance as well as talk about Russia defaulting on its foreign-currency sovereign debt for the first time in more than 100 years. Also a view on the risks that he sees in markets right now with key events, results and data points for the rest of this week that may move markets.

Let's view a clip on Biztech Asian Midday Marketwatch. A discussion between host, Brian Fernandez with guest, Vishnu Varathan, Head of Economics and Strategy, Mizuho Bank. A conversation of insights on regional markets performance as well as talks about regional markets performance as well as talk about Russia defaulting on its foreign-currency sovereign debt for the first time in more than 100 years. Also a view on the risks that he sees in markets right now with key events, results and data points for the rest of this week that may move markets.

Russia defaults on foreign debt for the first time since 1918. Four G7 nations to impose ban on gold bullion imports from Russia. Goldman Sachs said looking to raise $2B to buy Celsius Network assets - report. Biden unveils $600B G7 infrastructure plan to counter China. Catch today's WSB article here. Learn more about your ad choices. Visit megaphone.fm/adchoices

US sanctions push Russia into first foreign debt default since Bolshevik Revolution While the military war between Russia and Ukraine continues on, the financial war between the US and Russia reached a new level. As last night a 30-day grace period on Russia's foreign debt payments expired, which placed Russia in default. At least according to the western metrics, as interestingly enough, Russia is disputing that they have defaulted on their payments. It sounds like a messy situation all around, with no easy answers in immediate sight. But to find out more about the development, click to watch this brief video now! - To find out more about Silver Viper Minerals go to: https://silverviperminerals.com - To get Arcadia silver videos delivered straight to your email inbox click here: https://arcadiaeconomics.com/email-signup/ - To get on the waiting list for your very own ´Silver Chopper Ben´sterling silver figurine click here: https://arcadiaeconomics.com/get-a-chopper-ben/ - To get your paperback or audio copy of The Big Silver Short go to: https://arcadiaeconomics.com/thebigsilvershort/ - To see the evidence of manipulative behavior in the silver market (as well as how you can send it to your local regulators and Congressional representatives) click here: https://arcadiaeconomics.com/cftc-complaint/ - To sign the petition to ban JP Morgan from having any involvement in the silver industry click here: https://www.ipetitions.com/petition/ban-jp-morgan-from-trading-gold-and-silver - Follow Arcadia Economics on Twitter: https://twitter.com/ArcadiaEconomic - To receive updates about Arcadia option trading events: https://arcadiaeconomics.com/options/ - #silver #silverprice And remember to get outside and have some fun every once in a while!:) (URL0VD)Subscribe to Arcadia Economics on Soundwise

US sanctions push Russia into first foreign debt default since Bolshevik Revolution While the military war between Russia and Ukraine continues on, the financial war between the US and Russia reached a new level. As last night a 30-day grace period on Russia's foreign debt payments expired, which placed Russia in default. At least according to the western metrics, as interestingly enough, Russia is disputing that they have defaulted on their payments. It sounds like a messy situation all around, with no easy answers in immediate sight. But to find out more about the development, click to watch this brief video now! - To find out more about Silver Viper Minerals go to: https://silverviperminerals.com - To get Arcadia silver videos delivered straight to your email inbox click here: https://arcadiaeconomics.com/email-signup/ - To get on the waiting list for your very own ´Silver Chopper Ben´sterling silver figurine click here: https://arcadiaeconomics.com/get-a-chopper-ben/ - To get your paperback or audio copy of The Big Silver Short go to: https://arcadiaeconomics.com/thebigsilvershort/ - To see the evidence of manipulative behavior in the silver market (as well as how you can send it to your local regulators and Congressional representatives) click here: https://arcadiaeconomics.com/cftc-complaint/ - To sign the petition to ban JP Morgan from having any involvement in the silver industry click here: https://www.ipetitions.com/petition/ban-jp-morgan-from-trading-gold-and-silver - Follow Arcadia Economics on Twitter: https://twitter.com/ArcadiaEconomic - To receive updates about Arcadia option trading events: https://arcadiaeconomics.com/options/ - #silver #silverprice And remember to get outside and have some fun every once in a while!:) (URL0VD) This video was sponsored by Silver Viper Minerals, and Arcadia Economics does receive compensation. For our full disclaimer go to: https://arcadiaeconomics.com/disclaimer-silver-viper-minerals/Subscribe to Arcadia Economics on Soundwise

TOPICS AND TIMESTAMPS: Flashing Red 0:00 Consumer Warning 0:15 Russia Defaults 6:39 Michael Burry 10:03 2022-06-24_07-03-25_0.jpg (975×614) https://cms.zerohedge.com/s3/files/inline-images/2022-06-24_07-03-25_0.jpg?itok=t0DxWeVb unemp rate vs consumer confidence.jpg (1033×536) https://cms.zerohedge.com/s3/files/inline-images/unemp%20rate%20vs%20consumer%20confidence.jpg?itok=A64fdPvZ Recession may not be here yet — but stagflation is: El-Erian https://finance.yahoo.com/news/recession-stagflation-el-erian-june-2022-130731066.html Metal Prices Are Headed for the Worst Quarter Since the Financial Crisis - Bloomberg https://www.bloomberg.com/news/articles/2022-06-26/metal-prices-are-headed-for-the-worst-quarter-since-the-financial-crisis?srnd=premium-canada One of World's Major Wheat Buyers to Trim Imports as Prices Rise - Bloomberg https://www.bloomberg.com/news/articles/2022-06-26/one-of-world-s-major-wheat-buyers-to-trim-imports-as-prices-rise?srnd=premium-canada Home Showings Across United States Fall 24 Percent, Mortgage Rates Remain Elevated https://www.theepochtimes.com/home-showings-across-united-states-fall-24-percent-mortgage-rates-remain-elevated_4556028.html Ukraine War: Russia Defaults on Foreign Debt for First Time Since 1918 - Bloomberg https://www.bloomberg.com/news/articles/2022-06-26/russia-defaults-on-foreign-debt-for-first-time-since-1918 Canada's inflation rate should be in retreat by year's end | The Star https://www.thestar.com/business/opinion/2022/06/25/canadas-punishing-inflation-rate-should-be-wrestled-to-the-ground-by-years-end.html?utm_source=Twitter&utm_medium=SocialMedia&utm_campaign=OpinionStaff&utm_content=inflationrelief&utm_source=twitter&source=torontostar&utm_medium=SocialMedia&utm_campaign=&utm_campaign_id=&utm_content= Did corporate greed fuel inflation? It's not biggest culprit | AP News https://apnews.com/article/inflation-russia-ukraine-covid-health-government-and-politics-999a756b89b09b65d335856cf570737e ‘A cold dark place' — Michael Burry thinks the market has plenty of room to plunge. But he finally sees value in these 4 stocks https://finance.yahoo.com/news/cold-dark-place-michael-burry-150000615.html unnamed (4)_402.png (1280×718) https://cms.zerohedge.com/s3/files/inline-images/unnamed%20%284%29_402.png?itok=f2j8tenc unnamed (5)_395.png (540×405)

Russia has defaulted on its foreign debt for the first time since the 1917 revolution, according to reports. The country missed a deadline of Sunday night to meet a 30-day grace period on interest payments of $100M on two Eurobonds originally due on May 27. Some Taiwanese holders of Russian Eurobonds said on Monday that they had not received interest payments due. That's after Russia's attempts to pay in its ruble currency were blocked by international sanctions. David Madden is a market analyst at Equiti Capital and he joined us in London. #RussiaAttacksUkraine #RussianRuble #RussiaDefaults

This episode is also available as a blog post: http://confoundedinterest.net/2022/06/27/already-gone-russia-defaults-on-foreign-debt-for-first-time-since-1918-europe-sov-yields-up-10-bps/

Is foreign debt a bad thing? How has debt impacted Philippine development in the 20th century? We talked with Dr. Leloy Claudio of the University of California, Berkeley, to see the Philippine experience on foreign debt and what it means in the current crisis context. This episode was recorded before the results of the 2022 Presidential elections. Visit our website, www.podkas.org to watch our full interview with Leloy. --- Send in a voice message: https://podcasters.spotify.com/pod/show/podkas/message Support this podcast: https://podcasters.spotify.com/pod/show/podkas/support

The funding of the National Disability Insurance Scheme has always been a contentious issue between the ALP and the Coalition. Economist Dr Angela Jackson from Impact Economics and Policy outlines why the costs are so high and how to make it more sustainable. What can economic modelling tell us about who will win the Federal Election? Economist Hamish Greenop-Roberts from the University of Queensland, has studied past elections to determine which economic figures are the best indicators for a win. And what does it mean for a country to default? Eliza Wu, Sydney University's associate professor of finance discusses the consequences of defaulting and what will happen with Russia, and PhD candidate Nimna Prematilaka from the University of Melbourne shares her insights on the economic crisis facing Sri Lanka.

The funding of the National Disability Insurance Scheme has always been a contentious issue between the ALP and the Coalition. Economist Dr Angela Jackson from Impact Economics and Policy outlines why the costs are so high and how to make it more sustainable. What can economic modelling tell us about who will win the Federal Election? Economist Hamish Greenop-Roberts from the University of Queensland, has studied past elections to determine which economic figures are the best indicators for a win. And what does it mean for a country to default? Eliza Wu, Sydney University's associate professor of finance discusses the consequences of defaulting and what will happen with Russia, and PhD candidate Nimna Prematilaka from the University of Melbourne shares her insights on the economic crisis facing Sri Lanka.

I've been working on a Ukraine episode for a while. After an interview with Yulia Yurchenko (whose book Elliot recommends at the end) was unusable due to wartime internet, I turned to Elliot Dolan-Evans in Melbourne. In addition to being the author of the timely article "Why Ukraine needs foreign debt cancellation now,"[1] Elliot has spent time in Ukraine's Donbas region during the civil war that has been ongoing since 2014, where he conducted dozens of interviews on the subject of women's work and how it was affected by IMF-driven privatization.[2] 1. https://www.opendemocracy.net/en/odr/why-ukraine-needs-foreign-debt-cancellation-now/ 2. https://www.tandfonline.com/doi/full/10.1080/09692290.2021.2012223 * * * Podcast links: https://anchor.fm/halfpastcapitalism Subscribe on Youtube; https://www.youtube.com/c/HalfPastCapitalism Patreon: https://www.patreon.com/halfpastcapitalism Twitter: http://www.twitter.com/druojajay Half Past Blog: http://halfpast.dru.ca/

Sri Lanka has suspended all payments of foreign loans and is warning of an imminent default on international debt. The country's foreign currency reserves have plunged to less than $500M. That leaves the import-dependent economy gasping for food and fuel shipments. And as Tayyibe Aydin reports, that's building pressure on the government, to step down. For more on the story, Chayu Damsinghe joined us from Colombo. He's an economist at Frontier Research. #SriLanka #SriLankaEconomy #SriLankaForeignReserves

Sri Lankan officials say that the crisis-hit country will temporarily suspend foreign debt payments to avoid a hard default, with its limited foreign reserves required for imports of essential items such as fuel. Central Bank Governor P. Nandalal Weerasinghe says it has come to a point that making debt payments are challenging and impossible. The best action that can be taken is to restructure debt and avoid a hard default.

Russia faces a payment deadline for two international bonds today – worth $117 million – but it's unclear whether Moscow will be able to pay. The finance ministry has said its ability to make foreign payments has been hampered by sanctions. If Russia is unable to make the payments within a 30-day grace period, it will face its first default on international debt in more than a century. Also today, two fuel depots in western France have been blockaded in protest at high prices.

The Senate approved President Muhammadu Buhari's request for ongoing external loans to the tune of $8,325,526,537 and €490,000,000 under the 2018-2020 External Borrowing Plan.The approval followed the consideration of a report on the 2018-2020 External Borrowing Plan by the Committee on Local and Foreign Debt.Chairman of the Committee, Senator Clifford Ordia, says the Committee noted with utmost importance the genuine and very serious concerns of Nigerians about the country's borrowings' level and sustainability/serviceability in the Last Decade.He explained that rapid infrastructural and human capital development is needed due to the shortfall in the country's annual revenues.Ordia noted that out of the total borrowing request of $36 billion in the re-forwarded request of Mr President, a sum of $26 billion is for funds proposed to be borrowed from various financial institutions from the Peoples Republic of China.

Some of us Macro N Cheesers first heard the term “rentier class” from Michael Hudson’s interviews and YouTube talks. In today’s episode, he and Steve discuss the idea of economic rent as a remnant of feudalism. Bankers have replaced the feudal lords as the parasites who extract most of the wealth from the economy. The financial, insurance and real estate (FIRE) sector comprise the contemporary kleptocracy. They have manipulated the system to such an extent, it is impossible to get an accurate measure of our society’s economic health or pain. Michael delves into the history of debt and its role in our ever-changing economic structure. He references classical economists like Smith, Mills, Ricardo, and Marx, with their concept of economic rent as unearned income. They believed that industrial capitalism would eliminate the entire legacy of feudalism and dissolve the landlord class by taxing away rent or nationalizing the land. Since most governments were subsidizing education and health care, it seemed counterproductive to allow privatization of health, education, or land rent monopolies. They also saw ‘credit’ as a public utility, expecting banks to lend for socially worthwhile and productive purposes. Ultimately, instead of banking being industrialized, industry was financialized. Debt deflation is the idea that the more people pay in debt service — i.e. mortgages, credit card interest, fines, and fees — the less they can spend on goods and services; so money is sucked out of the production/consumption economy, and siphoned off into the wealth economy. This demand for debt service pillages the domestic market, destroys employment, and drives the population to emigrate, suffer, or die. Since we’re still mired in the “silly season” of US elections, Steve asks Michael whether he holds out any hope for finding solutions through electoral politics. Michael says it’s not possible to vote ourselves out of the mess we’re in due to the nature of the two-party system in the US.   It's basically the same party with a little ethnic difference between them, but economically it's the same party, and there cannot be any alternative to this monolithic - we'll call it the Republican Party with Democratic cheerleaders - there cannot be any progress made until you break up the Democratic Party.   Looking at their success in keeping the Green Party off the ballot in most states, the Democrats and Republicans have sent the message of virtual impossibility for third party wins. They’ve gimmicked the system, leaving Wall Street in charge of the economy and our lives. The elected officials haven’t been captured by the kleptocracy; they are its front men. They’ve been nurtured and groomed for that role.   I think most people who have to work for a paycheck realize that they're being squeezed, but that's not what the politicians say. You know, "hope and change"... and, of course, their real job is to prevent change and to smash hope.   Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), amongst many others. For access to his books, articles, and interviews: michael-hudson.com

Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect New Zealand.I'm David Chaston and this is the International edition from Interest.co.nz.Today we lead with news there are some positives to report today, but they may well be just temporary.This weekend the August non-farm payrolls report for the US will be released and analysts are expecting a gain of +850,000 jobs in the world's largest economy comes back from the pandemic downturn. That will be far less than the +1.4 mln gained in July. Today, the precursor ADP employment report was released suggesting private payrolls rose +749,000 which was better than analysts expected. But some of that may be a make-up from a low July result which greatly undershot the July non-farm payrolls level.It is fair to wonder if these gains will last. For example, Disney has announced huge layoffs mostly in its theme parks, about 20% of those workers many of which are part-time or minimum wage employees. Shell Oil said it will cut up to 9000 jobs.There was another real estate market report showing the American housing market was strong in August. Pending home sales were a spectacular +24% higher than in the same month in 2019. And that is a record high. And "home prices are heating up fast" in US markets says an industry analyst. And recent mortgage applications are similarly high on a year-on-year basis.Also rising is the latest Fed regional factory survey, this one from the Midwest industrial heartland. But they are just getting a later bounce-back than the rest of the country.Also on the up, China's manufacturing economy retained strong growth momentum in September, with firms signaling further good increases in production and new orders. New business expanded at the strongest rate since January 2011, aided by a solid rebound in export sales.And China said its foreign debt has now risen to US$2.1 tln. Given that 2020 GDP will come in at US$14.4 tln, that means their foreign debt load is less than 15%.And don't forget, China is now in its Golden Week holiday, so economic news from them will be sparse for a while.Hong Kong's August retail sales were down -13% from the same month a year ago and that was a much lesser shortfall than we have seen recently and activity is now back up to April levels.Residential building consent approvals were also out in Australia for August today and they were little-changed from August 2019. But that was an unusually low benchmark. Still house consents were up strongly (+12%), undercut by a big dive in apartment consents (-18%).August air cargo volumes rose in August from July but growth was hampered by lack of capacity. That was because the passenger market is still moribund. The Asia/Pacific international cargo shipments were down more than -18% from the same month in 2019.Wall Street has started today up a strong +1.2% in midday trade, reversing yesterday's decline. The expectation of new fiscal stimulus is behind today's rise. European markets closed down about -0.5% however. Shanghai closed yesterday down -0.2%, Hong Kong closed up +0.8%, and Tokyo ended its session down a sharp -1.5%. The ASX200 closed even lower, down -2,2% while the NZX50 Capital Index had a flat result, 'good' in the circumstances.The latest global compilation of COVID-19 data is here. The global tally is 33,743,000 and up +299,000 in one day. Global deaths reported now exceed 1,003,000 but clearly many are going unreported.The largest number of reported cases globally are still in the US, which is up +47,000 overnight to 7,421,000. Their death total is now just over 211,000 and rising at +1000 per dayIn Australia, there have now been 27,078 COVID-19 cases reported, and that is only +15 more cases than yesterday. Deaths are up however at 886 (+4). Their recovery rate is now 91%.The UST 10yr yield has risen today, up to 0.69% and almost a +5 bps gain. The price of gold is unchanged at US$1895/oz. But silver has slipped a little today.Oil prices are firmer today, up by more than +US$1 to just under US$40/bbl in the US, while the international price is not much changed at just under US$41/bbl.The Kiwi dollar starts today higher yet again, now back up to at 66.2 USc and a nine day high. But against the Australian dollar we have hardly moved and are now at 92.4 AUc. Against the euro we are +40 bps firmer at 56.5 euro cents. And that means our TWI-5 has risen to 69.6.The bitcoin price is a little higher this morning, and now at US$10,782 and a +0.9% gain. You can find links to the articles mentioned today in our show notes.And get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. We will do this again, tomorrow. 

Bio: Professor Leachman is interested in studying the subjects of international trade, exchange rates, fiscal policy, and international macroeconomics. In conducting her research, she often incorporates intertemporal models, multicointegration and sustainability. Her current research project explores the political economy of intertemporal budgeting. She recently collaborated with G Rosas, A Bester, and P. Lange to complete a study on, “The Political Economy of Budget Deficits,” and worked with the same team on the project entitled, “Multicointegration and Sustainability of Fiscal Practices.” She has also teamed up with Bill Francis to publish the works, “Twin Deficits: Apparition or Reality?” and “Multicointegration Analysis and the Sustainability of Foreign Debt.” One of her earlier works, executed with Michael Thorpe, was a study on, “External Balance in the Small Open Economy of Australia.” She has also published on such subjects as capital market integration, optimum corporate capital structure, and Ricardian equivalence. More recently, Dr. Leachman has turned her attention to creative writing. Specifically, she has written a memoir about growing up in the South, football, and her father's death from CTE. The book titled, "The King of Halloween and Miss Firecracker Queen," will be released in May of 2018. As a result of these efforts, Dr. Leachman is currently working on framing the legal and ethical issues surrounding football and the issue of informed consent. Lori Leachman is also the author of memoir about growing up in the South, in a football family, and her father's death from CTE. Her, father, Lamar Leachman, coached in the NFL for 14 years and won a Super Bowl coaching for the NY Giants. However, at the end of his life he suffered a long decline form CTE. This book tells that story as well as her family's love of the sport, and quirkiness of the South. The book titled “The King of Halloween and Miss Firecracker Queen” is available on Amazon and at Barnesandnobel.com. You can check out the book at her web site : www.lorileachman.net Professor Lori Leachman brings her career's focus on international economics and her understanding of international trade importance and macro-fiscal budgeting to explain how the global community is navigating these times. She explains What are some important points in her career that have led to her current studies, Why a broader tax base and good tax collection processes are key to a healthy debt-to-GDP ratio, and How they U.S. is fairing in such terms and why different approaches might improve its situation. Lori Leachman is an author and a professor of economics at Duke University. She began her career looking at the openness of economies and the degree of integration in financial markets. She then moved to currency and exchange markets and advantages of international trade. She studied how exchange rates evolved together and whether currency exchange actually worked—such as when the central back is buying or selling currency. She also studied the anticipatory nature of financial markets and international trade importance and imbalance of payments. Most recently, she's focused on macro-fiscal processes and budgeting, namely which countries ran persistent large deficits and accumulated large volumes of debt and which countries did not. She talks about her findings and world finances more generally such as the importance of creating hierarchy in the budget process. She specifically talks about the U.S. debt-to-GDP ratio, what's problematic, and how the U.S. uses the privilege of the dollar. She discusses all this in terms of how COVID is affecting systems and what we might expect in the future. For more, see her website at Duke, econ.duke.edu/people/lori-leachman, and email her with leachman@econ.duke.edu. Available on Apple Podcasts: apple.co/2Os0myK

We've all heard about China's Belt and Road Initiative, which has been making news since it was launched at the end of 2013, but when and how did China start its push westward and how did they do it? They built roads. Cybersecurity is about preparing the nation from a cyber attack from a hostile government or organisation. How are doing with that, not so well. The world's poorest countries are often troubled by huge amounts of foreign debt but for some of these countries the COVID-19 pandemic has made their debt situation even worse. Can anything be done? Yes, SDR's. Fish pirates may be a great title for a movie but in the real world just how much of a problem are they? We follow the pursuit and capture of one boat, the Andrey Dogov

We've all heard about China's Belt and Road Initiative, which has been making news since it was launched at the end of 2013, but when and how did China start its push westward and how did they do it? They built roads. Cybersecurity is about preparing the nation from a cyber attack from a hostile government or organisation. How are doing with that, not so well. The world's poorest countries are often troubled by huge amounts of foreign debt but for some of these countries the COVID-19 pandemic has made their debt situation even worse. Can anything be done? Yes, SDR's. Fish pirates may be a great title for a movie but in the real world just how much of a problem are they? We follow the pursuit and capture of one boat, the Andrey Dogov

We've all heard about China's Belt and Road Initiative, which has been making news since it was launched at the end of 2013, but when and how did China start its push westward and how did they do it? They built roads. Cybersecurity is about preparing the nation from a cyber attack from a hostile government or organisation. How are doing with that, not so well. The world's poorest countries are often troubled by huge amounts of foreign debt but for some of these countries the COVID-19 pandemic has made their debt situation even worse. Can anything be done? Yes, SDR's. Fish pirates may be a great title for a movie but in the real world just how much of a problem are they? We follow the pursuit and capture of one boat, the Andrey Dogov

Advertising revenue for radio stations in Australia dropped over 45% between April and June this year. The founder of Alibaba, named Jack Ma, is cashing out billions of dollars in Alibaba shares. Australia's foreign debt reached a 21-year low in the March quarter of this year. --- Start your money journey: https://www.flux.finance/ TikTok: https://www.tiktok.com/@flux.finance Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup --- The content in this podcast reflects the views and opinions of the hosts, and is intended for personal and not commercial use. We do not represent or endorse the accuracy or reliability of any opinion, statement or other information provided or distributed in these episodes.

Professor Jeffrey Miron and Professor Michael Hudson discuss the merits and shortcomings of capitalism.  Jeffrey Miron is a Senior Lecturer and Director of Undergraduate Studies in the Department of Economics at Harvard University, as well as a senior fellow at the Cato Institute. His field of expertise is the economics of libertarianism; he has advocated for many libertarian policies, including legalizing all drugs and allowing failing banks to go bankrupt. He has written four books including "Drug War Crimes: The Consequences of Prohibition" and "Libertarianism, from A to Z." Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a scholar at the Levy Institute, a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and professor at the School of Marxist Studies, Peking University, in China. He is also the author of J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), amongst many others.

The Seychelles islands are located east of Kenya, near the equator.  Its beautiful beaches, virgin jungles, thriving coral reefs, and UNESCO-listed nature reserves are among the many attractions of the archipelago’s 115 islands.  The larger inner islands are quite developed for tourists, studded with many luxurious five-star resorts.  The natural wonders of the Seychelles are […]

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On September 21, 2019, on the platform of ALLATRA International Public Movement, an online conference of the new format took place “GAME OF PROFESSIONALS. SOCIETY. THE LAST CHANCE” on the topic “THE NULLIFICATION OF THE FOREIGN DEBT OF ALL COUNTRIES AND THE ELIMINATION OF TAXES ON PEOPLE.” In the current situation, the national debt will never be repaid and unfortunately, no-one expects its repayment. It is intended to be refinanced over and over under new conditions each time, in order to maintain the status quo. During refinancing the country will depend on the “goodwill” of its lenders and their imposed loan conditions. At whose expense is this debt being repaid: the government, banks and businesses or the citizens of each country? How is the country's foreign debt related to people's wages and incomes? How does the ruling elite manipulate financial flows and paralyze the world economy, due to an insatiable thirst for profit and power, drawing countries into financial crisis and war? How will human life change in all its spheres when the external governmental debts of all countries are nullified? We kindly invite anyone who’s interested to join the process of live discussion in the programme series "Game of Professionals. Society. The Last Chance". Live broadcast on https://allatra.tv/en Watch the program on the link to ALLATRA TV https://allatra.tv/en/video/nullification-of-the-foreign-debt--and-the-elimination-of-taxes-on-people To apply for participation or ask questions, please, email us at: info@allatraunites.com Official website of the ALLATRA IPM project "SOCIETY. THE LAST CHANCE": https://allatraunites.com The PRECEDENT programme with Igor Mikhailovich Danilov: https://allatra.tv/en/video/the-precedent Video of the large-scale international conference "SOCIETY, THE LAST CHANCE" https://allatra.tv/en/video/society-the-last-chance-may-11th-2019 Press conference "FOR CREATIVE SOCIETY" https://allatra.tv/en/video/for-creative-society-allatra ALLATRA International Public Movement official website: https://allatra.org

O le kuata o le GDP o Tonga o loo aitalafu ai i atunu'u i fafo, ae maise i le malo Saina.

Welcome to Finance & Fury, the ‘Say What Wednesday’ edition. Today’s question comes from Brad, “Any chance you could do a podcast on Australian foreign debt? Is it possible to pay it off? Will paying it off have a negative effect on our economy? Are most or all countries on the path to austerity?" Brad! Awesome questions as it will flow well into next Friday’s Furious Friday episode. We’ll tackle some of the debt issues here, which actually adds to the structural issues that our economy will face …which might cause some issues in the share market and property market. But to start off with…What is Foreign Debt? Foreign Debt is the total of government, financial institution, household and business debt that is borrowed overseas. Australia’s Net Foreign Debt totalled just under $1 trillion last year. It’s important to note that foreign debt does not equal national debt, which is the total government debt. It comprises government borrowings from overseas residents and government borrowings from Australian residents and thus excludes overseas borrowings by the private sector. It doesn’t equal Household Debt (which is massive as well) Foreign debt is distinguished from other forms of foreign investment capital inflow such as foreign ownership as it carries with it the obligation to pay interest and repay the principal. Types of Debt Gross foreign debt is the sum of all non-equity liabilities by Australian residents, the major component of which is the total amount of borrowings from non-residents by residents of Australia. It includes securities issued such as bonds as well as loans, advances, deposits, debentures and overdrafts. In Australia the figure is close to $2tr which is a dramatic increase since 2005 when it was close to only $500bn Net foreign debt is equal to gross foreign debt minus lending by residents of Australia to non-residents and non-equity assets such as foreign reserves held by the Reserve Bank. Sitting at about $1tr at the moment Reserve assets held by the Reserve Bank comprises gold, foreign exchange, special drawing rights and Australia’s reserve position in the International Monetary Fund. Where has this come from? It’s all behind the scenes.   Most of Australia’s $1 trillion dollars in net foreign debt has been borrowed through the banking system and used to increase home lending. This has helped fuel property price increases. As at June 2017, the banking sector had borrowed some $850 billion from offshore, equating to 49% of Australia’s GDP The Irony - Australia’s government debt is relatively low when comparing us to other countries but due to the Federal Budget being hamstrung slightly by the banks and their offshore borrowing excesses. The Government has to limit its own borrowing that it would normally spend on things like infrastructure or other projects. There is a fear that Australia will lose its very safe AAA credit rating. Many of the ratings agency tell a similar story. This would downgrade the banks credit ratings and lead to the unravelling of the private debt bubble created by the banks. This also increases the costs of lending for everyone; the Government, the banks, you and me. With a lot of our net foreign debt tied up in the financial system (especially in home/property lending) there is going to be a bit of an issue if we lose our AAA rating and the cost of borrowing goes up. Essentially then it will be up to us to pay this debt off rather than the government, especially given the new Bail-In laws (whilst I touched on this slightly last week I will cover more thoroughly in another episode). I doubt the Government would need to do anything in regards to Austerity to pay back this debt as they can take over banking operations. What does all this mean? Not many nations have accumulated $1tr in Net Foreign Debt like we have. It’s equivalent to about 56% of our GDP, and is up significantly from 8% in 1995 Australia’s banks would never have experienced anywhere near the same degree of asset (loan) growth without the ability to borrow so much from offshore debt markets. The total value of Australian home loan debt would probably not have grown so strongly without this access. Australian house prices would be materially lower as a result – the more people can borrow the higher prices go! The fact that banks can borrow so much is a reflection on foreigners’ confidence in the Australian economy and our ability to repay our debts (AAA rated is seen as safe) The key risk is that the banking system’s ability to continue borrowing from offshore rests with foreigners’ willingness to continue extending credit to them. This is a concern if we lose our higher rating. Few countries should be as worried about the prospect of sharply higher global interest rates as Australia… if rates overseas go up then our repayments will also go up. Too much foreign debt is a huge risk if a financial/economic crisis occurs and foreigners are spooked. For example, if there is a collapse in the price of Australia’s commodity exports, housing market, etc. foreign lenders may think that Australia won’t have the economic capacity to repay the debts (between the banks, the government, and us) What if this happens? What happens when nobody wants to lend anything more, or we can’t afford the repayments? Austerity (back to Brad’s Question) - a political-economic term referring to policies to reduce government budget deficits through spending cuts, tax increases, or both. Austerity measures are used by governments that find it difficult to pay their debts, particularly when a nation is in jeopardy of defaulting on its bonds (debt instruments). In Australia these include floating rate notes, Commonwealth Treasury Bonds, and other forms of credit totally about $350bn Interest repayments by the Government on this is approximately $17.8bn in interest per year (4% of Gov Revenue). Remember, this is just Government Debt, not including Foreign Debt. Doesn’t seem like too much right? But let’s put it in perspective - the spend on the schooling system (public and private) is $19.5bn a year Maturity of Debt Instruments, just like a mortgage, has a time period within which it needs to be paid back. For example, 10, 20, or 30-year Bonds. At maturity the lump sum borrowed amount needs to be paid otherwise, the debt defaults and we’re at the hands of other nations to be able to repay – who then impose Austerity on us. Greece and Germany/EU – Greece were bailed out, but they were forced to raise the retirement age, adjust pension payments, welfare spending etc. Foreign Debt Austerity (not really relevant to this) Major risks – Rates rises here (or overseas on the borrowed funds by the banks) - Higher loan costs would lead to less spending, which would affect employment rates, hit the government’s budget, and plunge us into a recession Flow on effect – the Government has less revenue (taxation) so would need to borrow to fund costs It’s very hard in Australia to cut spending, and also hard to raise taxes – And easy solution is to borrow, but foreign debt is stopping this. The flow on effects would be huge, with no one lending to Australia, and nobody wanting to invest here, the currency will drop. Let’s look at Government debts as this is where Austerity kicks in What you hear all the time is, compared to other nations, we aren’t in much debt compared to GDP at the national level, so don’t worry! We actually have a 42% Debt to GDP ratio (Gross) Net includes Futures Fund of $146bn – Revenue is $15.6bn – this almost covers interest payments The Japanese government, the world’s most indebted, is the classic case, having borrowed almost entirely from its own citizens. Unlike Japan, Australia’s governments can’t tax foreigners more if they refuse to roll over the loans. This is a simplistic scenario to help break this down – it IS simplistic and doesn’t carry 100% across but helps to illustrate; Say you are in a household, and your household net income is $100,000 (think of this as GDP) Some relative, friend racks up $42,000 of debt (with interest, so add another $2k) How easily can you pay it back? Relatively easy compared to Japan – $42,000 is better than Japan’s $250,000 debt but comparing bad situation to worse ones isn’t a great excuse to say we don’t have a debt/spending problem Another example; think of it in your own lives. Say you rack up a lot of credit card debt and need to pay it off… where do you cut your budget, or work more? The Government paying off debt It would be relatively easy if spending was switched back to repaying debt. It comes back to them having three options 1) Tax more, 2) Spend less, 3) Borrow to bridge the debt repayments.   This is where moralistic flavour enters the debates. People think it’s immoral to spend less in certain areas, others think it’s immoral to tax more. Unfortunately, we’ve seen a popular solution to this of taxing the ‘rich’ more. It’s clearly a popular sentiment in Australia too. But isn’t this still picking on a minority of 1-10% of the population. Morality is relative and really depends on what side of the aisle you’re sitting on. When it comes to policies and politics most of the debate and arguments behind this don’t have even the depth of a Niki Minaj song. So what spending do you cut? Health is $80bn, Education $35bn, Transport/communication $9bn? There’s not much you can really cut from these areas as we have seen a bit of Austerity not too long ago, in 2014/2015. Why do you think Abbot was so unpopular! The biggest growth in spending, and easiest place to reduce spending …  is Welfare! Welfare payments are at around $180bn a year and is going up to almost $200bn in 2 years (which is 36% of the budget) Technically, we could pay our national debt off in 4 years if we cut out all welfare… but what would that do to our economy? Less money being spent in the economy would cause a decline in some cashflows to business This is the danger of being reliant on the Government Economic Crashes going forward would be debt bubbles created by the Government. A beast of system has been created which is “too big to fail” but there’s more debt around than assets. The Government has the monopoly. They force you to pay more in tax to pay off the debt they have racked up, with little benefit to the population. When you look at the stats globally, there is no correlation between Government Debt to GPD, and personal/individual prosperity. I have no issue with Government debt, as long as it was spent well on things that increase infrastructure/economic growth. But this is not how it is currently being spent or accumulated. This leads to the bigger point – Why does every nation seem to be indebted? Hear me out. Until 1971 money had to have a sort of fractal backing of gold (was fudged though, creating mistrust in the system) and then the Fiat system was in full force Since then debts gone up for every country. The debt simply represents what someone has lent you so it has to be paid back at some point in time. Looking at Debt to GDP for G20 – Japan, Italy, Singapore, US – All above 100% Debt to GDP Then there were another 10 countries with between 50% and 100% Sum up all debt it’s close $58 trillion USD ($80trillion AUD)… and this is just for the G20 nations! I ask myself, ‘when does this get paid off?’. The GPD of these nations is $65trillion USD This excludes foreign debt! Total Levels of Debt Government Debt in Australia is $850bn in total which is pretty small compared to private debt. Private – Between Business and Household – almost $3trn This is made up of $1trn Business Debt and $2trn of Household Debt ($1.8trn of which is in housing itself!) The total Credit, including everything as far as borrowing in Australia is concerned, the Australian Receipt is $7trn. This represents aggregated borrowings between private (Household/Business), and Government. It’s all debt in the economy and banking system. Compare that to our total GDP of only $1.76 trillion. Let that sink in. The History of Australian Debt. Debt has risen massively and with nothing to show for it. Currently we have lower historical wage growth than what we had when we weren’t borrowing as much. GDP growth is a lot less as well. What is the money being spent on? Sadly, lots of unproductive activity. Debt to GDP of 42%. It was under 10% when Howard left office, down from about 33% when he first took office. It is possible to do. But, these days, unless population is wanting it, it’s political suicide! Summary Is possible to pay off this debt but it requires the population’s willingness to do so. It would cause reduction in GDP if spending was redirected but pulls us out of a risky situation in the future if rates do go back up. When you look at the rest of the world, we’re in a much worse position at regarding Foreign debt. In Australia we have a huge external vulnerability via the build-up in non-productive private (mostly housing) debt. It’s a ticking time bomb for the nation – and we’ll look at these risks further next week in Friday’s episode   https://www.macrobusiness.com.au/2018/02/australias-foreign-debt-time-bomb/ http://www.australiandebtclock.com.au/

Michael Hudson — "American Monetary Institute presentation" AMI conference, University Center in downtown Chicago, Sept 30 - Oct 3, 2010Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971).ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate, and the economic history of the ancient Near East.Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law. He gives presentations on various topics at conferences and meetings and can be booked here. Listen to some of his many radio interviews to hear his hyperspeed analysis of the geo-political machinations of global economics. Travel costs and a per diem are appreciated.DownloadMichael Hudson's website is: http://www.michael-hudson.comSource: Politics and Science (Radio4All Network)Aired: 11/09/10 12:00 AMThis podcast is an aggregate of audio files freely available online. Please visit the original source and subscribe to the host website.

Michael Hudson — "World Tired of Paying Bill for US Military" on The Real News Network (December 26, 2010)Michael Hudson: World Tired of Paying for US Military — 26 Dec 2010 — Hudson explains how the US dollar's status as the global reserve currency extracts extra financial value that America uses to fund its military. But other countries are recognizing this and are slowly moving away from the dollar for their transactions.Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971). ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate, and the economic history of the ancient Near East. Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law.DownloadMichael Hudson's website is: http://www.michael-hudson.comSource: The Real News NetworkAired: 12/26/10 12:00 AMThis podcast is an aggregate of audio files freely available online. Please visit the original source and subscribe to the host website.

Ken Volpert, Principal and Senior Portfolio Manager at Vanguard-Is the growing debt problem getting out of hand?

The U.S. deficit spending is out of control. Greece faces collapse due to the same practice of a tax and spend economy while employing a third of the country in public sector jobs. The Stock Market dipped below 10000 recently, and currently struggles to remain above that mark. The number of foreclosures continue to rise. The government refuses to drill domestically. Is all of this connected? How does China, and their own future economic troubles, tie into all of this? Join the Political Pistachio Radio Revolution as we welcome guest Bob Rinear of Invest Yourself dot com to discuss worldwide economics, and his theory that one of the reasons government officials are against drilling for oil domestically might be because our oil reserves are being used as collateral for our debt. Join us live at 7:00 PM Pacific, or catch the archive later, at BlogTalkRadio.com/PoliticalPistachio. Conservative News and Commentary