…should be released in early May. For a fuller picture of the continuing deterioration of the situation in the European Union and the eurozone, the unemployment rates tell a stark…

Europe’s Response to Coronavirus and the Implications for the U.S. As I listened to the morning news about the coronavirus crisis, I was reminded of this critique of the Eurozone:…

…their constitutional obligation to ensure that the nation can pay for the debts it has already incurred. See Taylor, Top Dems Urge Obama to Weigh Unilater Debt Hike, Salon.com (Jan….

…Since financial industry debt is “different,” what does the graph look like if we exclude that? Federal Debt Held by the Public as a Percentage of (Total Credit Market Debt…

…suffer the consequences). And unlike Greece, though our debt is high, it is still only about 70% of GDP. And lucky for us, the foreign nations who buy our debt…

…2 terms than during Reagan, Bush 1 and Bush 2? It was debt combined with “new products” designed to pretend people could pay the debt which kept it going. In…

…served and quarterly figures for the total public debt. The debt series I obtained (from the Federal Reserve Economic database) goes back to 1966. The terms of each CEA chair…

The Federal Reserve released the “Household Debt Service and Financial Obligations Ratios” for Q3 2005 today. The household DSR (Debt Service ratio) set another record at 13.75%, up from 13.53%…

…of short-term debt, a foreign lender may decide not to roll over credit at the time when it is most needed. But recent papers have shown that foreign debt can…

…without increasing nominal expenditures for existing debt service. (Yes, with some exceptions for inflation-indexed debt contracts.) Deflation, the reverse. Nominal debt-service expenditures are (very) sticky. Or described differently: inflation constitutes…