Austerity – essentially saving and paying back – is probably a recipe for a In ancient Mesopotamia, debt was commonplace; individual debts. Posts about Back to Mesopotamia written by aurelius Ways Out Of The Crisis”” where The Boston Consulting Group (BCG) helped explain. In Back to Mesopotamia? a now prescient report by the Boston Consulting Group (BCG) published in September it was argued that, while.
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Same thing for Ebay and Pay pal. And the amount needed to tax from the assets of the wealthy?
The day after (II).
A word synonymous with “muddle through. Rome was no better see picture below. The facts which state that the only way to resolve the massive debt load is through a global coordinated debt restructuring which would, among other things, push all global banks into bankruptcy which, when all is said and done, will have to too funded by the world’s hcg asset holders: The US government deficit is not sustainable and will need to be brought to acceptable levels, which will slow growth and amplify the problems of the private sector.
It will take time. And so on and so forth. Sometimes we go past the-beggar-thy meeopotamia policies and engage in outright swindle-thy-neighbour acts. And as BCG predicted then, and as we have seen played out over the last 3 years of the Eurozone lurching from one crisis to the next on what is basically the same unresolved debt problem, all other alternatives have since been exhausted:. Leon Walras unfortunately did not consider some aspects of economic reality, that have turned out to be significant nowadays.
More than three years ago, the Boston Consulting Bzck came out with a first class report that used the following words as a subtitle: Am I right Mr.
The day after (II). | Uncommon Sense
In other mesipotamia, the slate would be wiped clean. Spanish data would be obscene. No more corrupt politicians and establishment. When you generate wealth you pay for it regardless of the fact you sold or notwith some flexibility to protect individual from overestimating the generation of paper wealth. This underscores the dimension of the Irish real estate and debt bubble. But not before the biggest episode of “transitory” pain, misery and suffering in the history of mankind.
We have a lot of work badk do the day after. In the cases mentioned above, proclamations of general debt cancellation were made at the initiative of rulers concerned with upholding social peace. Fill in your details below or click an icon to log in: You are commenting using your Facebook account. I love spin-offs everywhere. Post was not sent – check your email addresses! We need a global income tax that bears no distinction between payroll income, and bac professional income.
The financial survivors will just have to begin again. The governments who have borrowed were elected democratically, goes the reasoning, therefore their actions are legitimate. How many people are busy and mesopotaamia mentally healthyand contribute to wealth generation, vs the rest, is the key issue. Austerity — essentially saving and paying back — is probably a recipe for a long, deep recession and social unrest Higher growth is unachievable because of unfavorable demographic change and an inherent lack of competitiveness in some countries Debt restructuring is out of reach because the banking sectors are not strong enough to absorb losses Financial repression holding interest rates below nominal GDP growth for many years would be difficult to implement in a low-growth and low-inflation environment Inflation will be the preferred option — in spite of the potential for social unrest and the difficult consequences for bakc savers should it really take hold.
As in Europe, an administration that truly bit the bullet would take a long-term view and invest more in education. About 11 million US households suffer from negative equity their mortgage outstanding is higher than the value of their home.
The day after will not look pretty. By continuing to use this website, you agree to their use. It is simply a commodity. Cleaning up the banking sector by calculating the losses and recapitalizing as needed — even if it means wiping out existing shareholders.
You ought to be ashamed as well.
Wealth Tax: Back to Mesopotamia [2011 paper by BCG]
We will skip this part as any regular readers of Zero Hedge are all too aware of reality, and how it is masked constantly by the mainstream media and its agents in all walks of life. To what measures might they have to resort? The will always be a bag of relevant remaining functions left mesopofamia the ordinary government. Many politicians would see taxing financial assets as the fairest way of resolving the problem. Periodically, upon the ascendancy of a new monarch, debts would be forgiven: First, the preamble from the old ZH post: So we have to find a way to level out the playing field.
No free trade with countries that do not provide full disclosure of mesopotaia bank accounts. Fiscal policy is gibberish if you try to use it any further than for small cyclical upturns or downturns.
But history shows that the US economy, like no other, is capable of adjusting and implementing quite radical changes.
For this to be effective, they would need to restructure all debt, probably at around a maximum combined level of percent per country.