| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Contagion and the viral spreading of debt based systems
Contagion and the viral spreading of debt based systems
– CEO pay at regional banks surge on average to $10.5 million thanks to bailouts while austerity is forced onto the middle class.
Posted by mybudget360
The biggest economy in the world just reached a new peak with their unemployment rate. We are not talking about the United States but the massive block in the Eurozone. The unemployment rate in the 17 country block reached a new all-time high at 10.9 percent as austerity measures are being used to combat massive levels of debt.
There is no single rule of thumb as to how much debt is too much. A few respected economists from the 1800s once stated that too much debt is reached when the market suddenly acknowledges that too much debt has been reached. In Europe it appears that this apex of debt has been reached and certainly in a handful of economies too much debt has been reached. The trouble of course is that Europe is a massive trading partner to the US but also the world. It is naïve to think that issues in the European zone will not trickle over to our already fragile economy. The working and middle class are likely to have another tough challenge put ahead of them as countries overseas begin redefining what life is like with too much debt.
Read more>>Contagion and the viral spreading of debt based systems
