Debt

World Politics-Economics Right Now

By Johan Galtung The net conclusion? The enormous US imbalance: no longer winning wars, less political clout, economically bankrupt but still powerful, shaping the world culturally. Wise US policy would celebrate the last two; unwise policy would Make America Great…

Bolivia’s External Debt is Only 19 percent of GDP

La Paz, Sep 25 (Prensa Latina) At the end of last July the balance of the Bolivian public debt medium- and long-term reached six thousand 811 million dollars, which represents only 19 percent of its Gross Domestic Product (GDP ).…

Greece in debt: a walled-in space

Greece is the most beautiful country in the world – if you are on holiday! Because, daily life gets harder and harder for most of the inhabitants, especially the most vulnerable ones. Greek governments having violated citizens’ human rights are…

The Need for a New Economic System – PART IV: Neocolonialism and Resource Wars

Human Wrongs Watch By John Scales Avery* Hobson’s explanation of colonialism The Industrial Revolution opened up an enormous gap in military strength between the industrialized nations and the rest of the world. Taking advantage of their superior weaponry, Europe, the…

Argentina Reaches Deal to Repay Debts Without IMF Involvement

Democracy Now! Argentina has reached a landmark deal with a group of creditor nations to repay its longstanding debt without the involvement of the International Monetary Fund. Argentina is still trying to recover from a massive economic crisis and default…

Homo Creditensis: Debt as an instrument of social control

The Argentinean economist Guillermo Sullings at the Deutsche Welle Global Media Forum in June this year, explained that “…it is clear that capitalism is approaching a dead end. That capitalism, which sometime ago appeared to reformulate its distributive equation encouraging…

Little vultures and the Occupy crusade that both helps and educates

We have all heard by now of Vulture Funds, those that buy cheaply poor countries’ debt, eg, from the IMF or the World Bank, and then pursue the debtor though international courts to force it to pay back in full.…