debt   16630

« earlier    

China Freezes $1.5 Billion of P2P Assets in Intensified Probe
Chinese police have frozen about 10 billion yuan ($1.5 billion) of assets across more than 380 peer-to-peer lenders in an escalated investigation into illicit financing.

Codenamed ‘Fox Hunt,’ the operation spanned 16 countries and regions including Thailand and Cambodia and led to the arrests of 62 suspects implicated in Chinese P2P frauds since June, China’s Ministry of Public Security said in a statement on Sunday. It didn’t disclose more details but said police is still recouping...
china  debt  fraud  finance 
5 hours ago by jayyy
BC Hydro rates expected to increase 8% over 5 years | CBC News
""The announcement comes after a report commissioned by the NDP government says BC Hydro customers will pay $16 billion over the next two decades because the Crown utility was pressured by the former Liberal government to sign contracts with independent power producers.

The report says the Liberals manufactured an urgent need for electricity but restricted BC Hydro from producing it, forcing the utility to turn to private producers and sign long-term contracts at inflated prices."

"Former B.C. Treasury Board director Ken Davidson authored the study, which estimates the cost to the average residential BC Hydro customer will amount to about $4,000 over the next 20 years or about $200 per year."

"Energy Minister Michelle Mungall says Davidson's report also concludes the agreements forced upon BC Hydro were mainly with run-of-river producers, whose power is primarily available during spring run-off, when B.C. doesn't require it."

""B.C. didn't benefit. BC Hydro customers didn't benefit. A small number of well-placed independent power producers benefited, and customers were stuck with a 40-year payment plan," Mungall says in a news release."

"The NDP government is also crying foul over $3 million in campaign donations from the independent power industry to B.C. Liberal campaign coffers over 12 years.""
britishcolumbia  hydro  electricity  corruption  debt  politics 
3 days ago by pacpost
Bond Economics: Understanding The "Debt Burden" Debate
the side that argues that "debt is a burden" typically argue by constructing examples, where there is an effect that mimics such "time travel". In order to understand the debate, we need to understand those examples. They generally look like this. At some initial time, the government spends money, and increases its liabilities. Typically, this is a transfer to an "older generation" (think of government pensions), which spends the money and then promptly dies. The government liabilities are rolled forward for a number of "generations". The government raises taxes on the future "young generation" to eliminate those increased liabilities. ("Paying off the debt.") Therefore, it looks like the future "young generation" is penalised with higher taxes as a result of the increased government liabilities that was used to transfer resources to the present day "old generation". Government liabilities appear to act as an intermediary in a transfer between those generations. The flaw with these examples is that there is no justification as to why the government liabilities have to be reduced in the future. This is just an arbitrary government action that is imposed by the person giving the example. In the real world, government money and debt grow along with nominal GDP, so one could easily have an alternate story in which the tax hike never occurs. (My previous article gave such an example.) That said, it appears safe to say that is impossible to grow liabilities faster than GDP "forever", and so actions may eventually be needed to limit liability growth. The fact that the "burden" is actually the result of what appears to be an arbitrary government policy was observed earlier. The Austrian economist Robert P. Murphy gives a good summary of the debate in this article, which discusses this point. He also lists the positions of the various economists involved. The Real Question The question that the debate is really about is: does increasing government liabilities now (above some "normal level") imply an obligation to reduce them back to some "normal level" (with some form of austerity policy) in the future? ...
mmt  debt  austerity 
4 days ago by MicrowebOrg
Opinion: To Aid the Private Sector, Financial Policymakers Need to Get Money Flowing - Caixin Global

However, the problem is that all this additional credit that policymakers are trying to get to the private sector isn’t getting to the private sector. As a result, credit hasn’t expanded significantly under the policy stimulus. Last year, new loans borrowed by governments, nonfinancial corporations, individuals and the nonbanking sector reached 18.5 trillion yuan ($2.73 trillion), down almost 40% from a peak of 30 trillion yuan from mid-2015 to mid-2016.
china  monetary  debt 
5 days ago by jayyy
[no title]
Blanchard speech on debt constraints
debt  fiscalspace  fiscal  funcfin  moneymoment 
5 days ago by JWMason

« earlier    

related tags

$22  2007  2018  2019  a  academia  academics  access  acquiescence  acts435  actually  addiction  administration's  administration  adminstrativebloat  advertising  affordability  after  ageing  agency  alarms  alexandria_ocasio-cortez  all  an  anarchism  anarchy  anticapitalism  anxiety  architecture  aren’t  auriga  austerity  automation  autonomy  banks  be  bestpractice  big  book  borrowing  branding  britishcolumbia  budget  budgetdeficit  building_credit  bullshitjobs  bureaucracy  burnout  business  buzzfeed  camaraderie  canada  canon  capitalism  car  care  caregiving  causing  caution  cbs  cbs’s  ceiling  charity  china  class  code  college  community  complexity  compliance  consumer  consumer_financial_protection_bureau  consumerism  consumers  control  corporate  corporations  corruption  could  countries  court  creativity  credit  credit_scores  creditcard  crisis  culture  customer  cycle  dalio  davidgraeber  debtdynamics  deficit  deficits  demo2010  depression  deschooling  development  digitization  donald_trump  dwyl  economic  economics  economy  economy20  education  egypt  electricity  eliminate  elitism  employability  employment  energy  equilibrium  estates  ethics  excellence  expectations  exploitation  eye  fca  fees  feminism  fight  finance  financial  financialisation  fiscal  fiscalspace  football  for  france  fraud  freedom  fulfillment  fun  funcfin  funding  gambling  gap  gdp  gender  generationgap  getrichslowly  gfc  global  google  government-spending  government  graeber  grants  greece  greennewdeal  growing  happiness  hierarchy  highered  highereducation  highly-leveraged  history  horror  housing  humans  humnnature  hydro  identity  ideology  ifttt  imf  in  industry  inequality  inflation  infrastructure  insecurity  instability  instagram  interestrates  international  investing  investment  is  issue  italy  japan  jobs  journalism  keep  labor  labour  larry-summers  latecapitalism  learning  leisure  licenses  life  lifehistory  loans  mai68  maintenance  management  manufacturedconsent  marketisation  marxism  measure  measurement  media  mentalhealth  methodology  metrics  middlemanagement  millennials  minutia  misery  mmt  mobilephones  modern_monetary_theory  monetary  money  moneymoment  montana  morality  morals  mortgage  mortgages  national  neoliberal  neoliberalism  new  newspapers  next  numbers  of  on  opression  output  outstanding  over  overwork  paday_lenders  parenting  passion  pcf  people’s  perception  performance  personal  personal_finance  pg&e  pile  planning  play  pocket  podcast:  policy  politics  population  poverty  power  practice  precarity  prices  private  pro  process  production  productivity  productmanagement  progress  proxy  psychology  publicservice  publishers  publishing  purpose  q1  racism  ranking  rata  raydalio  read  realestate  recession  refactoring  reform  regulation  relations  relief  reorganization  research  resource  respect  retirement  review  ringing  risk  rkselectiontheory  rules  sanctions  satisfaction  saudiarabia  scary  schooliness  self-image  self-worth  service  serviceindustry  services  shrinking  shutdown  silly  socialmedia  socialvalue  society  software  solidarity  soon  sovietunion  specialization  spending  sponsorship  standardization  start  statistics  stefanmolyneux  stories  stress  student  studentloans  students  subprime  subversion  suffering  suicide  supervision  supplysideeconomics  surpasses  suspending  systemsthinking  targeting  taxation  taxes  taylorism  teaching  tech  techdebt  technical  technocracy  technology  that  the  thecultofwork  theguardian  theleft  thought-provoking  to  toronto  toynbeepolly  transportation  trillion-dollar  trillion  trump  trust  tunisia  ubi  uk  understanding  united_states  universalbasicincome  universities  university  unschooling  us  utility  value  values  vancouver  venezuela  wall  warning  way  wealth  will  women  work  writing  ynab  youngadults  zero-basedaccounting  zombie 

Copy this bookmark:



description:


tags: