Mortgage fraud, faux-democracy and escrache in Spain.
Those unfortunate enough to lose their homes are also burdened with a debt for life.
Anatomy of an ‘escrache
Spanish banks repossessed 30,000
family homes in 2012 and those who take part
in doorstep protests may face fines of up to 6,000 euros in Madrid.
Between 2002 and 2008 an average of 754,000 new homes were built in Spain every year. It is currently estimated that up to 6 million homes remain vacant.
posted by adamvasco
on Apr 14, 2013 -
"Liberals have not always been very good at communicating why liberalism works. There’s many reasons for this, but part of it is that it can be hard to defend the obvious from an absurd and deceptive attack. For half a century you had to be a crank to oppose what Roosevelt accomplished; liberals got out of the habit of arguing for their beliefs.
I hope this page will help. Liberals don’t need to apologize for their vision of how American society should work. Liberalism saved American capitalism and democracy, defeated Naziism, created a prosperous middle class, and benefited every sector of society, from the back streets to Wall Street. " Mefi's own Zompist (previously
) on Why Liberalism Works.
posted by The Whelk
on Sep 30, 2012 -
"If I had felt any unease that I was potentially exploiting a horrible situation for personal gain, it was short-lived. The next four months were the most stressful, difficult, and dangerous of my life until that point, and probably—hopefully—ever. ... On December 31, 2004, I achieved a couple of significant milestones: I made my final student loan payment, and I had a positive net worth for the first time in my adult life. Mortars, rockets, and car bombs aside, that was pretty satisfying
posted by Brandon Blatcher
on Sep 15, 2012 -
The National Bureau of Economic Research has published a new paper analyzing 138 years of economic history in 14 advanced economies, which proves that high levels of private debt cause severe recessions.
Money As Debt
posted by infini
on Sep 10, 2012 -
in today's New York Times promotes replacing public loans for university students with private equity contracts, wherein funding firms would receive a percentage of graduates' earnings. [more inside]
posted by junco
on Jun 14, 2012 -
"A Harvard MBA Pays Down $101K Of Debt."
Two years after he graduated from Harvard with an MBA, Joe Mihalic, now manager of strategic alliances and business development at Dell, vowed to do “everything in my power–short of lying, cheating, and stealing–to pay down" his student loan debt, (then totaling 90K,) "in the next ten months.” After applying for a weekend delivery job, he also decided to chronicle the steps he was taking on a blog: "No More Harvard Debt
." First page of posts is here
. Penultimate post explains his process: "Mission Accomplished." [more inside]
posted by zarq
on May 16, 2012 -
Adam Curtis on The legacy of the Colonels Coup
- "What is forgotten is that from 1967 to 1974 the Greek people lived under a harsh and violent dictatorship that tortured and murdered thousands of ordinary people. The Colonels also corrupted the society by handing out vast loans to individuals in towns and villages across the country - to buy their loyalty. At the same time the repression and torture bred a powerful resistance that finally burst out in incredible bravery in 1973." [more inside]
posted by marienbad
on Feb 29, 2012 -
I ﬁnd that speakers of languages with little to no grammatical distinction between the present and future (weak-FTR ["Future Time Reference"] language speakers) engage in much more future-oriented behavior. Weak-FTR speakers are 30% more likely to have saved in any given year, and have accumulated an additional 170 thousand Euros by retirement. I also examine non-monetary measures such as health behaviors and long-run health. I ﬁnd that by retirement, weak-FTR speakers are in better health by numerous measures: they are 24% less likely to have smoked heavily, are 29% more likely to be physically active, and are 13% less likely to be medically obese. [more inside]
posted by gauche
on Feb 11, 2012 -
"GOVERNMENT debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece flirting with default, Italy's bond yields rising fast, and America's government bonds losing their AAA status, public-debt burdens have become dinner-party talk. Our interactive chart
shows current IMF forecasts but also allows you to input some basic economic assumptions to see where general government debt as a percentage of GDP might head."
posted by storybored
on Dec 12, 2011 -
David Graeber profile
: Meet the anthropologist, activist
], and anarchist who helped transform a hapless rally into a global protest movement
... " 'Most people don't think anarchism is a bad idea. They think it's insane,' says Graeber. 'Yeah, sure it would be great
not to have prisons and police and hierarchical structures of authority, but everybody would just start killing each other. That wouldn't work, right?' Graeber's father, however, had seen it work
posted by kliuless
on Nov 27, 2011 -
There is this perception that the only China skeptics are foreigners. Let me tell you that is completely wrong. The debate within China is much more interesting and much more ferocious than the debate outside of China about problems with the growth model.
Michael Pettis is a professor at Peking University's Guanghua School of Management, where he specializes in Chinese financial markets. Here he talks about China's economic prospects
posted by storybored
on Oct 30, 2011 -
Special report: China's debt pileup raises risk of hard landing.
'When China announced a nearly $600 billion package to ward off the 2008 global financial crisis, city planners across the country happily embarked on a frenzy of infrastructure projects, some of them of arguable need.' 'Barclays Capital has predicted a global recession would trigger a "hard landing" in China, with gross domestic product sinking well below the 8 percent mark seen as the minimum for assuring enough job creation to keep up with urban migration. A severe economic slump would depress land sales, a vital source of funding for local governments, and make their debt load even more precarious.' [more inside]
posted by VikingSword
on Oct 10, 2011 -