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 | In flagrant and prison sentences faced by August 1 who have overdue debts to the public over 5,000 euros. |
Live Coverage: July 10, 2011 – The federal government currently borrows 40 cents out of every dollar to keep government running. President Obama seeks to increase tax revenue and cut major spending in the federal buget. Either of which, continues to plunge our economy deeper into this recession. The quick fix is ??to raise the debt ceiling with some buget cuts maybe some tax increase on the wealthy class if the republicans cave in. Yet, this is still not enough. The US has obligations to our lenders overseas. We will have to increase the debt ceiling and increase our money supply once again. Just as the Federal Reserve did with the bailouts in 08-09, Quantitative Easing – Qe1 and Qe2 followed after that to make up for the federal deficit. Ben Bernanke confirmed no Qe3, while many speculate this is not necessarily true. No matter what they call the next round of stimulus, the Fed will continue the devalutation of the dollar just to keep the economy afloat. Again, Congress has always made many buget deals in the past. In fact, the debt ceiling has been raised over 80 times in the past 70 years. Why is this August deadline so important then? It’s because we have passed our debt borrowing limit in mid-May 2011. We will likely avert the August 2 default deadline, Just as we did in March 2011 with the fear mongering tactics to shutdown of the government. Its just a matter of time before any of this is unsustainable. How close are we to Financial Ruin? It’s difficult to say, but …
The State of the Chinese Economy: Implications for China and the World This major USC US-China Institute conference examines the health and future of the Chinese economy and assesses China’s economic ties with the US and others. *** Haizheng Li Economics, Georgia Institute of Technology Dr. Li is teaches economics and is also Special-Term Director of the China Center for Human Capital and Labor Market Research (CHLR), in the Central University of Economics and Finance in Beijing, China. His major research fields are labor economics and Chinese economy, with a focus on human capital issues. He is a founder of the CHLR in China, an international center on human capital studies. The Center’s annual China Human Capital Report, which contains various series of human capital indexes for China. He was President of the Chinese Economists Society in 2006-07. OFFICIAL WEBSITE: www.uschina.usc.edu FACEBOOK www.facebook.com Video Rating: 0 / 5