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Tag: debt crisis

U.S. Debt Crisis Alert

Sven R. Larson March 6, 2023

There are growing signs that the United States is heading for a Greek-style fiscal crisis. It is not imminent, but close enough to cause real worries for anyone interested in the U.S. economy.

A Victory for American Conservatives

Sven R. Larson January 14, 2023

Kevin McCarthy had to make far-reaching compromises on both House rules and policy before garnering enough votes to secure the position as House Speaker.

U.S. Debt Crisis: One Step Closer

Sven R. Larson October 5, 2022

The cold, hard truth embedded in all these numbers is this: going forward, the U.S. Treasury will have to continue to raise interest rates just to keep investors from selling American government debt.

Can Greece Dodge Another Debt Crisis?

Sven R. Larson September 17, 2022

The Greek government has the cost of its current debt under control. However, what gives cause to worry is its soon-to-come need to build up new debt.

Perfect Storm: Debt Crisis and the Liquidity Trap

Sven R. Larson June 20, 2022

In the face of a new debt crisis, the Bank of England, the Federal Reserve and the ECB cannot return to buying large amounts of sovereign debt. The central banks saved indebted governments a decade ago. They can’t do it again. But there are other means at their disposal.

Joining the Euro: Stern Advice for the Croatian Government

Sven R. Larson June 11, 2022

As Croatia’s lawmakers enter the final stretch toward euro membership, it is essential that they understand exactly what happened in Greece, and why. In five short years, 2009-2014, the Greek economy imploded: one quarter of it vanished. This was a direct result of the austerity packages that the EU and the ECB forced upon the government in Athens. What will Croatia do to avoid ending up in the same trap as Greece?

Davos: No Talks about the Looming Debt Crisis

Sven R. Larson June 9, 2022

A debt crisis sweeping across both continents has the potential of bringing about a new global depression. Governments have no room to use fiscal policy to mitigate the crisis; their monetary policy capabilities have already been depleted in responding to the recent pandemic. Yet there was no mention of this threat in Davos.

Bloomberg: Europe May Avoid Recession

Sven R. Larson June 9, 2022

Bloomberg suggests that consumers “sitting on 700 billion-euro ($753 billion) cash” is reason enough to predict macroeconomic resiliency in Europe, but this report is contradicted by findings by Eurostat on retail trade in the euro area and the EU as a whole.

Prepare for Another Debt Crisis

Sven R. Larson June 4, 2022

A new debt crisis looks unavoidable. There is practically no interest in fiscal reforms across Europe, leaving the continent vulnerable to a destructive downward spiral of rising interest rates and structural budget deficits.

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Issue 25, Winter 2023

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