Evaluate War’s True Costs, Including Massive Debt

By Ed Flaherty, Vcnv.org -

Have we become a welfare state for the military-industrial complex?  In August, 2018, Congress passed the Fiscal Year 2019 National Defense Authorization Act (NDAA) with overwhelming bi-partisan [...]

Lesson From History: How Bronze Age Rulers Simply Canceled Debts

By Michael Hudson, Evonomics.com -

There has been an explosion of discussion about whether to cancel student debts. Critics of the idea point out that wealthy people would be the main gainers, posing moral hazard. The debate has [...]

Trump’s $34 Trillion Deficit And Debt Bomb

By Dr. Jack Rasmus, Globalresearch.ca -

Not surprising, the $2.7 trillion in social program spending cuts will finance spending for the military and defense related programs like Homeland Security, Border walls, veterans, police, and [...]

“Earth-Shattering” Book Argues That Ancients Routinely Did What Our Government Should Do: Give Debtors A Clean Slate

By Staff, Publicbankinginstitute.org -

Michael Hudson, one of the few economists who accurately predicted the Great Recession, has written a book — …and Forgive Them Their Debts — that caused John Siman to remark in Naked Capitalism: [...]

Single Mother And Healthcare Worker Jailed For Three Days In Indiana Over Unpaid Ambulance Bill

By George Marlowe, Wsws.org -

Melissa Latronica is a 30-year-old healthcare worker and single mother of three who lives in La Porte, Indiana, 65 miles southeast of Chicago. On February 11, Melissa was pulled over by police in [...]

Two-Thirds Of Bankruptcy Still Caused By Medical Illness And Medical Bills

By Staff, Pnhp.org -

Medical problems contributed to 66.5% of all bankruptcies, a figure that is virtually unchanged since before the passage of the Affordable Care Act (ACA), according to a study published yesterday [...]

Russia And China Continue Dumping US Treasuries

By Staff, Rt.com -

The latest US Treasury Department data shows that foreign investors slashed their holdings of American debt in November by $105 billion, from a year earlier, to $6.2 trillion. China, the largest [...]

US Student Loan Debt Hits Record $1.46 Trillion. Funny, That’s More Than GOP’s Corporate-Friendly Tax Giveaway

By Jon Queally, Commondreams.org -

It's been almost a year since the Republican Party and President Donald Trump delivered their behemoth giveaway to the nation's corporations and wealthiest individuals by passing a $1.5 trillion [...]

Breaking The Chains Of Debt: Lessons From Babylonia For Today’s Student Crisis

By Michael Hudson, Inequality.org -

Today, the wealthy depict inequality in glowing colors as a byproduct of economies pulling ahead, “creating wealth” by innovations that add to prosperity. This view is unprecedented in history. [...]

US Judge Authorizes Seizure Of Citgo For Debt Of Venezuela

By Staff, Archyworldys.com -

A US federal judge authorized the seizure of Citgo Petroleum Corp., the subsidiary of Venezuelan state oil company PDVSA, to satisfy a debt of the Venezuelan government, reports the Wall Street [...]

Risky Debt Spending Of Bottom Half Is Bolstering The Economy

By Jonathan Spicer, Reuters -

By almost every measure, the U.S. economy is booming. But a look behind the headlines of roaring job growth and consumer spending reveals how the boom continues in large part by the poorer half [...]

Back When College Was Debt-Free

By Josh Hoxie, Inequality.org -

As May gives way to June, the last college grad ceremonies are wrapping up and the last parties are coming to a close. Now the job hunt for recent grads begins in earnest — with the looming [...]

Global Economy A Giant Debt Scam,What the Financial Elite Don’t Want You to Know

By Andrew O'Hehir, Salon -

Capitalism collapsed in 2008, just as communism had collapsed in 1991 — the system we have now is something else This is an argument Varoufakis has made many times, including in his 2011 book [...]

Could Student Loans Lead To Debt Prison? The Handwriting On The Wall

By Alan Nasser, Counterpunch.org -

The burden weighing like a nightmare, to coin a phrase, on 44 million indebted current and former students will haunt these people for a good portion of their lives. The average student debtor [...]

Not A Matter Of If, But When

By Shawn Hattingh, MR Online. -

In early January 2018, capitalists across the globe were celebrating the fact that the Dow Jones had rallied by 45% since the election of Donald Trump. Likewise, brokers were beaming in Sandton [...]