“Rather than collecting taxes from the wealthy,” wrote the New York Times Editorial Board in a July 7 opinion piece, “the government is paying the wealthy to borrow their money.” Titled “America Is Living on Borrowed Money,” the editorial observes that over the next decade, according to the Congressional Budget Office (CBO), annual federal budget […]
Eric Zuesse (blogs at https://theduran.com/author/eric-zuesse/) Stephanie Pomboy is one of the only 33 economists in the world who predicted the U.S. economic crash that came (despite all of the thousands of other economists who said it wouldn’t); she predicted it on 7 December 2007, which was nearly 10 months prior to the 20 September 2008 […]
In his bestselling book of 1987, The Rise and Fall of Great Powers, historian Paul Kennedy chronicles the rise of western power and its world dominance from 1500 to the present. He reports that the rise was not due to any particular event, nor even an unusual series of events. It was, in fact, neither […]
Photo by Mika Baumeister on Unsplash A small financial transactions tax could correct a number of maladies in our economic system, from the federal debt crisis to the widening wealth divide to the rampant financialization of the economy, while eliminating taxes on income and sales. The debt ceiling crisis has again brought into focus the […]
In debating the validity of raising the debt limit, the United States Congress has not carefully analyzed the reasons for government debt and the meaning of all debt. The true meaning of debt has the modern capitalist system as a debt-driven system. All new money supply is debt and the money supply is the energy […]
Patty Chayefsky’s film Network, an acid-laced spoof of capitalist media, reaches its climax when Chairman Arthur Jensen, leader of the fictional mega-corporation CAA, thunders his disapproval to the crazed but wildly popular anchorman, Howard Beale. Encouraging his viewers to protest CAA’s unpatriotic merger deal with Saudi Arabian capitalists, Jensen accuses Beal of having “meddled with […]
Raising the federal debt limit over the years has secured unconditional routine Congressional passage and was endorsed by presidents Ronald Reagan and Donald Trump. After all, it allows the U.S. Treasury to pay past and existing bills, not expand future spending. Routine, that is, until the recent arrival of the mad-dog Republicans with their monetized […]
John whitehead Step away from the blinders that partisan politics uses to distract, divide and conquer, and you will find that we are drowning in a cesspool of problems that individually and collectively threaten our lives, liberties, prosperity and happiness. These are not problems the politicians want to talk about, let alone address, yet we cannot …
Our forefathers turned their debts into currency. That Constitutional approach could work today. On Friday, Jan. 13, Treasury Secretary Janet Yellen wrote to Congress that the U.S. government will hit its borrowing limit on Jan. 19, forcing the new Congress into negotiations over the debt limit much sooner than expected. She said she will use accounting […]
The post Solving the Debt Crisis the American Way first appeared on Dissident Voice.
Pathy Tshindele (Democratic Republic of the Congo), Untitled, 2016. The United States government held the US-Africa Leaders Summit in mid-December, prompted in large part by its fears about Chinese and Russian influence on the African continent. Rather than routine diplomacy, Washington’s approach in the summit was guided by its broader New Cold War agenda, in […]
