When Countries Go Bankrupt

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Futurist Thomas Frey: In December 2006, Britain made its final payment of $84 million on a $4.34 billion loan from the U.S. that was made all the way back in 1945. Germany wasn’t the only country to go bankrupt after WWII. This money allowed Britain to stave off its total collapse after devoting almost all its resources to the war for over half a decade.

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‘Shrink to Survive’ Proposals to Tackle Economic Decline

‘Shrink to Survive’ - Entire Neighborhoods In U.S. To Be Bulldozed

‘Shrink to Survive’ – Entire Neighborhoods In U.S. To Be Bulldozed

Dozens of US cities may have entire neighbourhoods bulldozed as part of drastic “shrink to survive” proposals being considered by the Obama administration to tackle economic decline.  

The government looking at expanding a pioneering scheme in Flint, one of the poorest US cities, which involves razing entire districts and returning the land to nature.

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New Report: Over 60% of U.S. Bankruptcies From Medical Bills

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The overbearing sickness industry gets scrutinized.

An article in the latest issue of The American Journal of Medicine makes chilling reading, and presents compelling evidence that the US health care system is broken. In 2007, before the current economic downturn even began, an American family filed for bankruptcy in the aftermath of illness every 90 seconds; three-quarters of them were insured. Over 60% of all bankruptcies in the United States in 2007 were driven by medical incidents. Summarising the results of the first-ever national U.S. random-sample survey of bankruptcy filers, the article shows the share of bankruptcies attributable to medical problems rose by 50% between 2001 and 2007. Medical bankruptcy is a unique American phenomenon, which does not occur in countries that have national health insurance…

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What Happens when Countries Go Bankrupt?

What Happens when Countries Go Bankrupt?
The International Monetary Fund has already helped out Ukraine, Iceland and Hungary.
If many more countries need assistance, the IMF may need help of its own.

First it was mortgage lenders. Then large banks began to wobble. Now, entire countries, including Ukraine and Pakistan, are facing financial ruin. The International Monetary Fund is there to help, but its pockets are only so deep. (Pics)

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