debt jubilee

The Dutch press is reporting that Willem Buiter, the Dutch-born Chief Economist of Citigroup, believes that we are going to witness a slew of writedowns in the Netherlands unless the Dutch can right the economy and stop the fall in house…

Yesterday, we highlighted the talk that Steve Keen gave at the INET conference as our only post. Today, we present the full and in-depth version including his written analysis via Steve Keen's DebtWatch website. Steve ends with two…

This time it's Steve Keen on the hotseat on HARDtalk. Now, Steve is one of the few economists who actually predicted the global financial crisis. But what about the possibility of another Great Depression? That possibility and how to avoid…

Europe has an enormous productive capacity, Greece included. Debt introduces a money distribution problem that becomes a flashpoint during periods of economic weakness because the inability of large debtors to pay imperils both the debtor,…

Steve Keen, a well-known Australian professor and economist, spoke at Occupy Sydney saying that the protests all over the world show economic models have failed. He’s not the only saying this obviously. But, what does that actually mean for…

I see this deal as a quid pro quo for the banks getting recaps in exchange for writedowns. Because it is a negotiated agreement of a sort of payment in kind, it isn't really clear if the banks are being made whole (as compared to a…

Markets rallied strongly in response to the European developments. Yet it is an exaggeration to think that risk appetites returned as the whole month of October has seen equities, emerging markets, commodities and foreign currencies trend…

I doubt we are going to see wide scale debt forgiveness until defaults and debt deflation have taken center stage. But this is something to consider as it was an approach used during the Great Depression.

The over-indebted American consumer will be hard pressed to simultaneously reduce debt and maintain levels of consumption that support economic growth. On CNBC today, Stephen Roach of Morgan Stanley says, we need a debt jubilee for…