23rd November 2011
Who owns US debt around the world – and how big is it? Find out how China got to own over $1.4 trillion – and see which other countries have a slice. The Guardian
Peter Tatcell thinks there are serious alternatives to cutting Britain's national debt, other than cuts in public services – "As well as closing tax avoidance schemes, which could raise an extra £20 billion a year, there is a strong case for a national emergency tax on the fabulously wealthy." Huffington Post UK
"Maybe inflation is bad. Maybe inflation does reduce our real incomes. But it's still an invalid argument." Nick Rowe wonders if the inflation fallacy is at the root of all the US and Eurozone troubles. Worthwhile Canadian Initiative
If you ever wondered if Republicans were ever really pro-tax, Catherine Rampell has the answer: "Once upon a time, Republicans did indeed advocate leaving taxes alone, opposing tax cuts." That was during the 1950s and 1960s. New York Times
While few would argue that the financial crisis has not brought the real economy down with it, "there is considerably less clarity about what the positive contribution of the financial sector is during normal times." Vox EU
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