What and who caused the government debt crisis? – 3 graphs
from Edward Fullbrook
What happened in 2008? What and who caused it? Who should pay for it now?
US and EU general government consolidated gross debt as % of GNP
http://www.voxeu.org/index.php?q=node/5062
EU government expenditure and revenue as % of GNP
http://www.voxeu.org/index.php?q=node/5062
EU countries general government consolidated gross debt as % of GNP
Source: European Commission, AMECO
http://www.voxeu.org/index.php?q=node/5062
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The failure of the financial markets and resulting economic meltdown caused the government debt crisis. Where is your chart about the failure of the unregulated global investment banking system?
Good work, but Frank’s point is essential. Yet, how can we chart the corrupt collusion that caused the unsustainable unregulated global investment banking system that was destined to fail (end) from the beginning? Naturally, we should include currency speculation and much if not all of the commodities markets and other parasitic exploits (derivatives, etc.). More importantly, when can we start talking about a real solution (which seems to require a pure credit system designed to reward positive contributions to culture, instead of unsustainable negativity, waste, and destruction? If we can start Now, then it may be helpful to consider some of the content compiled at > mm-greenbook.blogspot.com < Thanks