Church Buys And Forgives $5 Million In Medical Debt By Kaelan Deese, The Hill. December 12, 2020 Church Buys And Forgives $5 Million In Medical Debt2020-12-122020-12-12https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/12/medical_debt.jpg200px200px NOTE: In addition to the one described below, United Church of Christ members raised money and erased medical debt in Kansas and Oklahoma. A church in Des Moines, Iowa, bought and forgave $5 million worth of medical debt owed by […]
debt
21 posts
Over 235 Organizations Call On Biden To Cancel Student Debt By Americans for Financial Reform. November 19, 2020 Over 235 Organizations Call On Biden To Cancel Student Debt2020-11-192020-11-19https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/11/debt-e1605833627587.jpg200px200px Washington, D.C. — Over 235 organizations sent a letter to President-Elect Biden and Vice President-Elect Harris, calling on them to use executive authority to cancel federal student debt on day one of their administration. In the letter, 238 nonprofit and community […]
A Debt Reckoning Is Unavoidable By Aaron Karp, Waging Nonviolence. October 21, 2020 A Debt Reckoning Is Unavoidable2020-10-212020-10-21https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/10/debt.png200px200px Above photo: Activists with Occupy Chicago protest the response to the 2007-2008 financial crisis in 2011. Flickr/ Michael Kappel. Will activists seize the moment? The recovery from coronavirus requires economic justice and ecological stability. The late anthropologist David Graeber, who wrote about the 5,000-year history of debt, spoke […]
https://cdn1.img.sputniknews.com/img/105550/74/1055507458_0:100:1920:1180_1200x675_80_0_0_f1dbc088755abcab656ac7fb6cd661b1.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Oleg Burunov. Sputnik International https://sputniknews.com/us/202010091080715748-us-federal-debt-will-soon-be-larger-than-any-time-in-history-american-budget-watchdog-claims/ Last month, a US Congressional Budget Office report revealed that the country’s federal debt is expected to stand at 98% of America’s GDP by the end of this year. The Congressional Budget Office (CBO) has released a survey indicating that the 2020 fiscal year saw the US deficit hit $3.13 trillion, or 15.2% of the country’s Gross […]
Despite retaining India’s credit rating at the lowest investment grade, ratings agency S&P Global warned that the Asian economy will face mounting deficit and debt levels in fiscal 2021 in the aftermath of the coronavirus crisis. In its forecast released earlier this week, S&P said it expects India’s debt-to-GDP ratio (the debt levels compared to gross domestic product) to surge over 17 percent from the previous […]
US Ambassador David Satterfield is treating Turkey like a colony, Ankara’s health minister Fahrettin Koca said, commenting on the escalating row over the skyrocketing debt Turkey owes to American drug companies. “What the ambassador did is neither correct nor ethical. He is using manipulation at a time when we are holding talks with drug companies. He may be able to do such acts in colonies, but […]
The Case For Debt Abolition By Astra Taylor, ROAR Magazine. September 22, 2020 The Case For Debt Abolition2020-09-222020-09-22https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/09/debt-e1600785306491.jpg200px200px Above photo: People impacted by human caging debt tell their stories. Debt Collective. “We cannot afford not to rebel.” By turning individual indebtedness into a source of collective leverage, debtors’ unions can exercise material power and coordinate campaigns of resistance. This is an excerpt of the Debt Collective’s “Can’t […]
An economic historian and one of Foreign Policy’s “Top Global Thinkers of the Decade” discusses post-COVID-19 global economics and politics. Our guest today is Adam Tooze. Adam holds the Shelby Cullom Davis Chair of History at Columbia University and serves as director of its European Institute. He is known for his books “The Deluge: The Great War, America and the Remaking of the Global Order” and […]
UK public debt has exceeded 100% of gross domestic product for the first time since 1963, breaching £2 trillion ($2.6 trillion) following the government’s £26.7 billion ($34.9 billion) borrowing in July. Economists have explained how Britain found itself under such a massive debt burden and whether they can get it under control. “Debt at the end of July 2020 was 100.5% of gross domestic product (GDP), […]
Bitcoin hit $12,000 but then fell as long derivatives traders were wiped out. Meanwhile, DeFi lending continues to grow. Bitcoin (BTC) trading around $11,884 as of 20:00 UTC (4 p.m. ET). Gaining 1.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,468-$12,084 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since Aug. 8.Source: TradingView Bitcoin was […]
A Brazilian crypto businessman who allegedly arranged his former lawyer’s murder rather than pay the man a R$2.5 million ($471,965) bitcoin debt remains jailed after Brazil’s Supreme Court rejected his request for freedom. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary […]
Fed Guarantees Unproductive Debt And Perilous Speculation By Ralph Nader, Nader.org. July 30, 2020 Fed Guarantees Unproductive Debt And Perilous Speculation2020-07-302020-07-29https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2016/04/Federal-Reserve-protest-End-the-Fed-150×112.jpg200px200px Above: Federal Reserve protest End the Fed. The Federal Reserve Board – our unaccountable Central Bank – needs more citizen and Congressional supervision. Fees from financial institutions fund its operations, not Congressional appropriations. It is as secret as it wants to be and that’s plenty. (See Secrets […]
The US dollar’s status as the dominant global currency is at risk of being eroded because of mounting government debt, according to Zhu Min, former senior executive with the International Monetary Fund (IMF). His warning comes as the United States is expected to double down on its fiscal stimulus measures to soothe the economic fallout from the Covid-19 pandemic. Congress is considering a new round of […]
Modern Monetary Theory (MMT) says that countries such as the UK and US don’t need to worry about taxes and can essentially print as much money as they require, an argument which has taken increasing significance amid the COVID-19 crisis because of the level of spending governments are engaged in to help counter the effects of the global recession. But Michael Roberts, a long-time economist with […]
https://cdn1.img.sputniknews.com/img/107964/42/1079644233_0:0:2101:1182_1200x675_80_0_0_b85f932a43a06eb0a18c69955afff418.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/asia/202006171079644282-china-pledges-to-cancel-african-debt-amid-covid-19-outbreak-president-says/ MOSCOW (Sputnik) – China will cancel the debt of several African countries in the form of interest-free government loans and will accelerate the construction of the Africa Centres for Disease Control and Prevention (Africa CDC) headquarters, Chinese President Xi Jinping said on Wednesday, amid the global coronavirus disease epidemic. “China will start ahead of schedule the construction of the […]
https://cdn1.img.sputniknews.com/img/105732/23/1057322350_0:120:1280:840_1200x675_80_0_0_fd5973fc95f538998803f9b1ddf2a89e.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/business/202006111079581037-treasury-department-us-national-debt-exceeds-26-trillion-for-first-time/ WASHINGTON (Sputnik) – The United States’ national debt total has exceeded $26 trillion for the first time in US history, Treasury data revealed. The data published on Wednesday showed that as of this week the United States’ debt sits at $26,003,751,512,345 as the nation grapples with economic relief from the novel coronavirus pandemic. The US government has provided up […]
Debt Strike Needed As Debt Collectors Keep Coming After Millions Of People By Paul Kiel and Jeff Ernsthausen, ProPublica. June 9, 2020 Debt Strike Needed As Debt Collectors Keep Coming After Millions Of People2020-06-092020-06-09https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2013/11/Strike-Debt-banner1-150×112.jpg200px200px Capital One and Other Debt Collectors Are Still Coming for Millions of Americans As the COVID-19 pandemic hit, Americans got protection from evictions, foreclosures and student debt. But debt collectors have continued to siphon […]
The US Federal Reserve’s balance sheet could skyrocket to more than $9 trillion by the end of this year, amid massive interventions to shield the economy from the coronavirus pandemic, according to the Financial Times. RT’s Keiser Report looks at the chart, showing that in 2007 there was “barely anything” on the Fed’s balance sheet. “The crisis hit in 2008 and you see the injustice of bankers […]
A conversation with the “Price of Tomorrow” author on the key structural challenge looming over the global economy. Two powerful and diametrically opposed forces are shaping the economy. On the one hand is inflationary economic policy, which keeps the price of assets like real estate and stocks rising ever higher, but at the expense of savings as the value of currency depreciates. On the other is […]
Initial Reflections On ‘Debt Jubilee’, MMT, And Limits Of Monetary Policy May 9, 2020 Initial Reflections On ‘Debt Jubilee’, MMT, And Limits Of Monetary Policy2020-05-092020-05-09https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/05/fed-1-e1589039877971.jpg200px200px Above photo: End the Fed rally in San Francisco. One of the readers of this blog recently asked me my views on topics such as the call by some left economists for a general debt forgiveness (Debt Jubilee), on Modern Money […]
The US 10-year Treasury bond yield fell 0.7 percent in response to the latest report of jobless claims. That comes a week after the Treasury said it would borrow a record $2.99 trillion this quarter, and launch a 20-year bond. RT’s Boom Bust talks to former Federal Reserve insider Danielle DiMartino Booth about what all that means for the future. “We’re starting to see the actual […]