Pensions, Unemployment, InterestonPublicDebt, Consume 54% ofSpain’sBudget; DebtHits 100% ofGDP; Expect Plan "B" or Plan "C" http://feedproxy.google.com/~r/MishsGlobalEconomicTrendAnalysis/~3/XEMAockPI-Y/pensions–unemployment–interest–on.html On Monday, Spain reported that its debt–to–GDP ratio wouldhit 100% in 2014. Spain’s public debt will soar to nearly 100 percent of output at the end of 2014, the government said Monday, despite massive spending cuts that have triggered angry street protests. Spain’s ratio of debt to gross domestic … Seguir leyendo Pensions, Unemployment, Interest on Public Debt, Consume 54% of Spain’s Budget; Debt Hits 100% of GDP; Expect Plan «B» or Plan «C»

HowtheEurozoneMightEnd http://www.nakedcapitalism.com/2013/10/how–the–eurozone–might–end.html Yves here. This post by Yanis Varoufakis gives a plausible scenario as to how the Eurozone could unravel. Most commentators believe the country that is most likely to rupture it is Italy. Italy has a primarybudgetsurplus and also has a high saving rate, with the result that even under the gold-standard-like Eurozone, it still funds most of its debt issuance internally. Notice how … Seguir leyendo How the Eurozone Might End

EconomicConfidencePlummets – NYTimes.com http://mobile.nytimes.com/blogs/economix/2013/10/04/economic–confidence–plummets/?_r=0& shared via http://feedly.com Seguir leyendo Economic Confidence Plummets – NYTimes.com

La decadencia de las élites http://crashoil.blogspot.com/2013/10/la-decadencia-de-las-elites.html Queridos lectores, Como muchos de Vds. sabrán, hace unas semanas la capital de España, Madrid, presentaba (creo que por tercera vez) su candidatura para albergar una futura edición de los Juegos Olímpicos. A pesar de la fanfarria mediática que daba por segura la elección de la capital del Reino para albergar este magno evento de gran proyección internacional, lo … Seguir leyendo La decadencia de las élites

Jamie Galbraith: GovernmentDoesn’tHavetoBorrowtoSpend http://feedly.com/k/GDtxtu When the Treasury writes a check, a bank credits an account. That’s money creation. Treasury bonds absorb money, but aren’t needed. Jamie Galbraith on endogenousmoney and US Debt in NYTimes: The debt ceiling was enacted in 1917 for one purpose: to fool the rubes back home. Just as Congress started running up debts to pay for the war, they voted in … Seguir leyendo Jamie Galbraith: Government Doesn’t Have to Borrow to Spend