"Dwarfing even the $2 trillion borrowed for the Railway Ministry’s high-speed networks since 2008, and the thousands of kilometres of 4–6 lane toll roads with barely a vehicle on them, China’s building binge is the most striking example of what Prime Minister Wen Jiabao famously, but impotently, denounced in 2007 as the country’s “unbalanced, unstable, uncoordinated and unsustainable” model of economic development. Now, with house prices and sales sagging in response to government restrictions aimed at deflating history’s biggest ever property bubble, and with local governments as deep in bad debt as the developers, I asked the businessman what was to prevent the bubble actually bursting
, in a spectacular financial explosion? "
posted by vidur
on Jun 21, 2012 -
The Right to Walk Away
Has panarchist thinking finally come of age in 2009? With world leaders of big governments failing to find any new solutions to old problems, should we have the right to walk away from those governments?
posted by stuffedspacedog
on Feb 2, 2009 -
TARP, SSFIP, EESA, CPP, TALF, MMIFF... Are you feeling overwhelmed by all the new acronyms coming out of the US Treasury Department lately? Here's a handy PDF reference guide
to untangling the US government efforts to rescue banks, financial corporations, and other companies.
posted by Asparagirl
on Dec 29, 2008 -
"Real unemployment right now -- figured the way that the average person thinks of unemployment, meaning figured the way it was estimated back during the Great Depression -- is running about 12%. Real CPI right now is running at about 8%. And the real GDP probably is in contraction." Bill Fleckenstein, writing at MSN Money, provides a summary
of an interview with economist John Williams on government number crunching. The full interview, with Kate Welling can be found here (PDF link)
. More from John Williams at Shadow Stats
posted by Zinger
on Mar 8, 2006 -
isn't this exactly opposite of what we're being told? I'm always hearing the wealthy are benefitting somehow from GWB's new tax plan. I'm certainly no-where near the top 5%, and now I don't want to be.
posted by the_0ne
on Apr 9, 2002 -
The House has passed the bankruptcy reform bill
that Clinton vetoed at the end of the last session. I'm mildly optimistic that it won't pass the Senate, given that the Democratic vote in the House was split. But should we be worried at all? At first glance
, it doesn't seem like a bad idea. But so many consumer groups are against it, and it seems to benefit credit card companies while hurting individuals, so I'm inclined to think we should leave things as-is. Especially since personal bankruptcies are down and credit card issuers' profits are up. Anyone know more about this?
posted by aaron
on Mar 1, 2001 -