Moral thinking about debt has fluctuated throughout U.S. history. Today’s calls for cancellation suggest it may be poised for transformation once again.
The problem is not a structural lack of liquidity but the use banks make of the liquidity available to them [...] they use the liquidity placed at their disposal to buy up massive amounts of debt which sooner or later will lead to a major new crisis
UCLA Labor Center study finds county relies on laborers – largely people of color – threatened with debts and jail to do work that would otherwise be paid.
Who was really responsible for the Mexican debt crisis? Did Mexico start it?
Robert Reich explains why the growing federal debt enriches Wall St. bankers and wealthy Americans.
I am in debt, but not alone. Debt is a millstone that weighs down more than three-quarters of us. It can determine if we are able to run for office, launch a business, or quit a job we hate. It should not—and cannot—be a disqualification for ambition
Will President Donald Trump, the self-styled “great builder,” authorize enough federal aid to rebuild Puerto Rico? Will Congress alleviate its crushing debt? To prevent a mass exodus of Puerto Ricans, the Trump White House and Republican-controlled Congress will have to act fast. Failure will drive an exodus of Puerto Ricans to the US.
Puerto Rico has been hit by a triple disaster - Hurricane Maria; outrageous debt owed to vulture hedge funds; racist, colonial indifference by the Trump Administration. Puerto Ricans - on the island, and in the U.S. have called for the lifting of the Jones Act, as it applies to Puerto Rico; canceling the debt; and abolishing PROMESA. Yesterday a solidarity flight of medical and emergency organized by AFL-CIO unions brought needed supplies and aid workers to the island.
Puerto Rico’s struggle to rebuild after Hurricanes Irma and Maria is being made harder by its own government, and an indifferent White House
The path of austerity could spread economic pain and social woes far beyond the Caribbean island, says public debt expert Martin Guzman. 1,000 miles off the coast of Florida, a small Caribbean island of 3.4 million American citizens is facing its worst economic crisis since coming under U.S. rule in 1898. In the short term, austerity aggravates the recession and reduces opportunities.
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