The Debts of a Nation

Dedicated to presenting finance and economics news in plain English.

Tuesday, October 18, 2011

Occupy Wall Street - Marine vs 30 Cops

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Speaking of the police. Here is a link to a video of a soldier - in uniform - protesting the treatment of demonstrators by the police. http:...

Wall St Protest Photos Part 3

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More photos. None of the police. Let's just say they became a little . . . sensitive when I tried to take photos of their position.

Occupy Wall Street Photos Part 2

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Occupy Wall Street Photos

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Its been a while since the last post. I am going to write a series of posts about the "Occupy Wall Street Movement" later. For no...
Tuesday, September 6, 2011

How America's Baby Boomers are Hoarding Wealth and Jobs from the Young and Minority Groups

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That is, of course, if recent trends hold up. As mentioned, more older Americans -- those 55 or older -- are working relative to previous ge...
Friday, August 12, 2011

Goldbugs? Are they Right?

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The article is self explanatory. I will be publishing a short history of the 40th anniversary since Nixon ended the gold standard later thi...
Thursday, August 11, 2011

US States Suffer From US Downgrade

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After S&P's downgrade of America from AAA to AA+ it is only natural for the everyday person to wonder what practical effects will oc...
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In Debt We Trust
The Debts of a Nation is a modern revision of "The Wealth of Nations" by Adam Smith. Smith structured his arguments as a critique against the prevailing economic and political ideology of his time - mercantilism. Under mercantilism European colonial powers amassed enormous amounts of gold and silver wealth through strict control of exports and the wholesale looting of foreign shores. Their colonists were locked in a cycle of indebtedness with financiers in their home countries. Fast forward to the modern age. Not much has changed - except instead of specie wealth we have fiat based currencies based on overleveraged borrowing. Mercantilist trade imbalances still exist. Citizens continue to live under debt bondage. But this time, emerging markets are the ones financing trade imbalances through savings gluts. The next few years will be a time of unknown risks surfacing. The majority of market pundits continue to operate under the assumption that all known risks have been contained. They still believe that the system's parameters can sufficiently contain the world's credit problems. They still continue to believe in the debts of a nation.
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