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Debt In The Time Of Wall Street

Harris & Ewing Washington snow scenes April 1924

With all the media focus aimed at Greece, we might be inclined to overlook - deliberately or not - that it is merely a one case study, and a very small one at that, of what ails the entire world. The whole globe, and just about all of its 200+ nations, is drowning in debt, and more so as every single day passes. Not only is this process not being halted, it gets progressively, if not exponentially, worse. There are differences between countries in debt, in percentages and other details, but at this point, these seem to serve mostly to draw attention away from the ghastly reality. 'Look at so and so, he's doing even worse than we are!'

Still, though there are plenty of accounting tricks available, you'd be hard put to find even one single nation of any importance that… Read More …