Tag / debt
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Another Europe
The 2008 financial crisis threw European economies into turmoil and caused state debt to rise precipitously. The bureaucracy of the European Union in Brussels concluded that righting economic imbalances required indebted governments to implement harsh “austerity” policies. European states needing financial support or debt relief from the rest of the Eurozone were thus ordered to…
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The Gift of Capital: The Rise of Eastern Investment or the Fall of an Economic Order
BY ARI MOSES While Western banking institutions have traditionally dominated global commerce, Middle and Far Eastern nations are catching up as they develop stable economies with international presence. The rapid economic growth of BRIC (Brazil, Russia, India, China) nations, especially China, has recently enabled emerging powers to support struggling nations throughout the Eurozone and in…
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Beyond the Numbers: The Challenges of Low Income Students at Wealthy Schools
BY VICTORIA SGARRO Negative $27. For the first time in his life, Daniel* came face to face with a bank statement of less than zero. He stared fiercely at the computer screen glowing in his lap, as if he could will the tiny black minus sign to disappear. Although money has been a constant worry…
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Enough with Austerity
In the UK, the country I’ve called home for the past few months, we’ve now officially entered an unexpected double-dip recession. Like Obama, Prime Minister David Cameron inherited a huge debt. However, the British pound is much more vulnerable than the dollar, and the Tories decided to institute swift austerity measures for fear of becoming…
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Embattled Eurozone
Simmering With Greece “Pass this Bill,” urged President Barack Obama, warning that the alternative to his jobs plan was a crisis that would resemble Europe’s. In Sarah Palin’s letter to her Political Action Committee, she stressed the need for a leader to show the US the way, lest it follows the ‘road to European socialization.”…
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Apple Pie, Football…Debt?: A Debate with the WUPR Editor-in-Chief
With the congressional deadline approaching to decrease the deficit by more than a trillion dollars, some still question if this imposed decrease is necessary. The deficit could be sustainable and may not even harm future generations. Yet, there are many reasons why this decrease is necessary, and why cutting government spending is the way to…
