Politicians are useless. And they keep on being useless. This is why the economy failed, this is why we have so many enquiries into this disaster or that calamity. Charlie Fairservice tells us that its ultimately our fault for voting tribally and having misguided loyalties to political parties.
In the course of human events it is pretty common for things to go right, wrong and anything in between. Whatever the result it is also handy to Continue reading
With the riots consuming most of the newsprint and dominating the airwaves, you may not be aware that Bolton are sitting pretty at the top of the Premier League. Harry Raffal brings you the other storylines that may have slipped your notice.
With the riots in Britain and the subsequent political fallout occupying central stage this week and only broken to bring us the first week of the Premier League and England thrashing India to go 3-0 up in the series, Continue reading
Financial crisis has been with us since 2007. Not much is changing. Have the established forms of capitalism failed? Chris Smith urges us to think about the economy from a progressive perspective.
Global capitalism continues to lurch from one crisis to the next, just as any good Marxist account of reality tells you it is destined to do. The US, the world’s largest economy and lynchpin of global capitalism is having its credit rating downgraded for the first time in its history. Whether this downgrade by one ratings agency turns out to be as universally damaging to the workings of Continue reading
Congress is in deadlock about raising the American debt ceiling. From the Founding Fathers to Bill Clinton via Barry Goldwater, Luke Cahill examines the history of American politics and diagnoses the current impasse.
As Speaker Boehner, puts his debt plan to the House, the lower chamber, the Democrat controlled Senate, has already decided that they will not allow it to pass. As Congress struggles to agree on how much to cut before they raise the debt ceiling, fatal weaknesses are yet again open for all to see. Continue reading
The American debt is significant enough to have global markets worried. Following Politics Preacher’s discussion of the debt crisis, Jason Holmes adds his cent to the debate.
There have been various discussions that country will soon have to default on government debts. Thus, the politicians and the economists have been discussing as to how to bring down the debt level and how to stop the country from defaulting. Mainly, the financial experts are of the view that the country needs a tax reform. Most are of the view that only a tax reform will result in debt reduction and thus will be able to save the nation from defaulting; the debt reduction process in itself is a Herculean task. Continue reading
Politics On Toast is doing well in the cabinet. Our very own AP Schrader was made Health Secretary and, now, Ventilator Blues has kicked George Osborne out of Westminster and has installed himself as Chancellor of the Exchequer. This is how ventilator Blues will save the economy:
Some months ago I reread P.J. O’Rourke’s seminal work “Parliament of Whores” and re-discovered a wonderful chapter on balancing the budget of the Federal Republic Beneath Canada. What fun it would be, I thought, to have a go myself and with the Continue reading
Uncle Sam is lumbered with a staggering debt and it’s not looking good. Obama’s going to need the Republicans to make the best of a bad hand, writes Politics Preacher.
There has been some rather scary talk of Greece defaulting recently, and the amount it will cost us as well as other countries, something which this blog has covered.
Something which has had a lot less coverage is the USA. They are in big trouble. They have something called a “debt ceiling” which is at around 14 and a half trillion dollars, a level for which they may not borrow above without approval. Their current national debt stands at around that level, and most analysts agree that between now and the 4th of August, that debt ceiling will be triggered.This will in turn lead to “selective defaulting” a tough thing to define, as no one has yet said who exactly they would be defaulting on. Continue reading