Federal “debt” is the total of outstanding #Treasury #Securities.
The US government could pay off all its so-called “debt” tomorrow simply by debiting all Treasury-security accounts and crediting the Treasury-Security owners’ checking accounts.
The entire process neither adds nor subtracts money from the economy (but for interest paid).
Nobody ever reimburses national debt. Sovereign states restructure it.
The sovereign state borrows from other financial institutions: the national Treasury offers an "obligation" or a "bond" whereby it #promises to later give away its fiat currency in exchange for the actual payment of money or title presented by the rentier.
It gets more complicated: https://mas.to/@maugendre/109760408033385603
Matt @MattCartoonist on #OBR #Borrowing @Telegraph – political cartoon gallery in London original-political-cartoon.com
**Why governments are 'addicted' to debt. FT Film**
“_This film examines what some are calling the biggest issue in global finance today, the role of the 'bond vigilantes', and whether government borrowing could spiral out of control._”
#Video length: twenty-nine minutes and fifty-nine seconds.
https://www.youtube.com/watch?v=n1jhoU9Mp_U
#FT #FinancialTimes #Film #Markets #Debt #Borrowing #Bonds #Trading #Investment #Finance #BondVigilantes #BondMarket #Economics @economics @finance
" The #debt is growing because the country keeps #Borrowing to finance an increasingly large gap between #GovernmentSpending and #Revenue. (..) What’s the Solution? "
Judging by their actions, the solution of the #Trump - #Junta is to slash revenue drastically while raising expenditure to unprecedented levels.
(While their other "solution" is to declare bancruptcy [#MarAlLagoAccord] - because the daddy of the United States will of course bail the country out as he always did in the past. 
)
The trouble with the farmer up to now has been that every time somebody has thought of relief for him it has been to make it so he could borrow more money. That’s what’s the matter with him now. What he needs is some way to pay back. Not some way to borrow more.
Will Rogers (1879-1935) American humorist
Column (1927-02-27), “Weekly Article: Big Bouts for Farm Relief”
Sourcing, notes: wist.info/rogers-will/75676/
Morten Morland @mortenmorland on #KeirStarmer #RachelReeves #Borrowing #Spending @thetimes – political cartoon gallery in London original-political-cartoon.com
#IMF warns #Global #PublicDebt to pass $100 Trillion by end of this year. #FiscalMonitor #Report urges govts to put through #TaxHikes and make drastic cuts to #PublicSpending and #BudgetCuts despite well publicized plans to do just the opposite.
Both #USElection #PresidentialCandidates are committed to policies that will add trillions in #debt to a fragile US #economy while in #EU govt #bonds have experienced sell offs, and #UK seeks to "tweak the definition of public debt used for the UK’s #fiscal
rules to allow for more #borrowing."
Global debt will be almost 20% points of GDP higher next 3 years than previously projected: "Much more substantial fiscal adjustments are needed".
https://on.ft.com/3YnU6NB via @ftworldnews #GiftLink #FinancialTimes
UK ‘risks repeat of surging energy bills’ amid continued reliance on gas https://www.theguardian.com/environment/2024/oct/15/uk-risks-repeat-of-surging-energy-bills-amid-continued-reliance-on-gas #UKcostoflivingcrisis #Energyefficiency #Renewableenergy #Consumeraffairs #Energyindustry #Householdbills #Familyfinances #Borrowing&debt #Energybills #Environment #Commodities #Fossilfuels #Fuelpoverty #Heatpumps #Business #Energy #UKnews #Money #Gas #Gas
Republicans break with Trump, back Fed ahead of rate cut
The Republican candidate said #lowering #borrowing #costs is
“something that they know they shouldn’t be doing”
before November’s elections.
-- GOP lawmakers disagree
https://www.politico.com/news/2024/09/11/republicans-defy-trump-fed-rate-cut-00178758
I don't speak #German, but I understand very well what the announcer says at 0:46: "Kabayel ist in top form."
I've previously posted about how much #English is used by announcers in #boxing in the Philippines, but I was not expected to hear this happen in #Germany, at least not for a phrase like this. Perhaps "knockout" or "round", common #nouns of a technical nature, but here we have a simple phrase.
Nationwide stops lending on some flood-risk properties https://www.theguardian.com/business/2024/apr/30/nationwide-stops-lending-on-some-flood-risk-properties #Banksandbuildingsocieties #Mortgagelendingfigures #Borrowing&debt #Mortgagerates #Housingmarket #Environment #Nationwide #Realestate #Mortgages #Business #Property #Flooding #UKnews #Money
Charity reveals people in the South East borrowing to pay bills | Hampshire Chronicle
https://www.hampshirechronicle.co.uk/news/24229575.charity-reveals-people-south-east-borrowing-pay-bills/
#Bills
#Poverty
#Borrowing
#Loans
#CostOfLivingCrisis
#CostOfSurvivingCrisis
#ChristainsAgainstPoverty
#SouthEast
#FreedomChurch
#Romsey
#Hampshire
From today's Guardian:
The Russian republic of Chechnya has banned dance music it deems either too fast or too slow, in an attempt to quash a “polluting” western influence on the conservative majority-Muslim region.
Musa Dadayev, the culture minister, said “all musical, vocal and choreographic works should correspond to a tempo of 80-116 beats per minute” to make music “conform to the Chechen mentality and sense of rhythm”, according to the Russian news agency Tass.
“Borrowing musical culture from other peoples is inadmissible,” Dadayev said. “We must bring to the people and to the future of our children the cultural heritage of the Chechen people. This includes the entire spectrum of moral and ethical standards of life for Chechens.”
#Chancellor to raise #UK government #borrowing to fund #budget measures – #OBR
#OfficeForBudgetResponsibility says #NationalInsurance and #tax cuts will be paid for by average £8bn-a-year borrowing to 2028-29
https://www.theguardian.com/uk-news/2024/mar/06/chancellor-to-raise-uk-government-borrowing-to-fund-budget-measures-obr
#ToryPoliciesInAction
#ToryFinancialIncompetence
Thanks for posting the link to https://www.kiva.org/
Very impressive that they have already supported 1.6 billion USD to people who want to pay it back.
As the lender below says:
'Constantly blown away by the impact from the same $25 being lent over and over again.'
If you are thinking about how to support people and you can afford it, have a look at https://www.kiva.org/.
Very small and larger projects.
@cosullivan @Professor_Stevens
#kiva #meaning #lending #borrowing
It's the #21stcentury in the #UK & people are having to use their #lifesavings & possibly the #savings of other #family members to pay for #cancer #treatment. #Money essential for #retirement, #funds a #son or #daughter were #saving to #buy a #home all used to go #private. #Borrowing maxed-out. This isn't okay. This isn't the #NHS #medical #care free at point-of-need that #NyeBevan campaigned for.
https://www.theguardian.com/society/2024/feb/07/hundreds-of-thousands-of-uk-cancer-patients-forced-to-pay-for-private-treatment
#SaveOurNHS #ToriesBrokeBritain
#HealthEquity #health
One of my favorite #English #wordFormation facts: "atone" is not a #borrowing from Latin or French, but a #MiddleEnglish conversion from "at one", according to the #OED helped by the prior existence of the verb "one" and the usage of "onement". "atone" then took the place of the verb "one".
