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USA is the nation with most debt by far in the history of human civilization. USA's total debt, including personal debt, real estate (mortgage) debt, consumer debt, credit card debt and government debt totals a mega $47,992 Billion USD ($47.9 trillion), roughly 2400 trucks full of money. Source: US Debt Clock
Here’s the letter published today in the Irish Times calling for an alternative to present economic policy. The letter is signed by 60 community activists, academics, leaders of advocacy groups & NGOs and writers & commentators. Conor McCabe and I have signed it too. Sir, – It is now clear that austerity policies are not working. The domestic economy will remain recession this year.
An instruction from civilisation to barbarism Not listening to the Iranians In the days leading up to and following President Ahmadinejad’s address at Columbia University during his recent trip to New York for the United Nations General Assembly, mainstream western media largely lost the run of itself in its eagerness to ensure that nothing he said could be interpreted other than through the prism of his being ‘a petty and cruel dictator’ – the words with which the President of Columbia University, Lee Bollinger, introduced Ahmadinejad in his ‘welcome’ address. Bollinger made another startling statement, one of many, as he greeted Ahmadinejad:
Enda Kenny's assertion last week that Irish people are not responsible for the crisis was a bogus one. By Vincent Browne . Taoiseach Enda Kenny said in his television address to the Irish people last Sunday: "You are not responsible for the crisis."
If economics would like to consider itself a “science”, then it should be willing to be subjected to genuine scientific scrutiny. The next 10-20 years will offer us perhaps the most damning expose of the fallacy of modern economics. The true test of a scientific theory is its ability to make testable predictions.
I write two economics columns every week. They keep me sane and hopefully, on my toes – but you can be the judge of that! One appears in the Irish Independent on Wednesdays and the other in the Sunday Business Post every Sunday. I’ve been writing the columns for over ten years now, covering economic, financial, demographic, social and geo-political issues – and all sorts of other things that come into my head, sparked by things I’ve read, people I have spoken to or ideas I have heard, over the course of any particular week. The world - and Ireland - is changing so rapidly that it’s impossible to run out of things to write about. Since I rarely stop writing, the articles are composed and written in the oddest of places, in bars, on trains, in my office, on buses.