• Cabal

      by Published on 02-16-2015 11:45 AM

      An interesting perspective on addiction as it relates to the War on Drugs.

      "There's a right-wing theory of addiction and a left-wing theory of addiction. The right-wing theory is some moral failing; you party too hard. The left-wing theory is it hijacks your brain, and so on. What Bruce says is it's not your morality, it's not your brain, it's your cage; it's an adaptation to your environment."

      "The Drug War is based on the idea that the chemicals cause the addiction, therefore we need to physically eradicate the chemicals from the face of the earth. If actually the vast majority of people who use these chemicals don't become addicted, if in fact you've got a whole other thing going on, it makes sense to wage war on that thing. What ...
      by Published on 03-14-2014 09:40 PM

      Global Debt Exceeds $100 Trillion as Governments Binge, BIS Says

      The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.

      The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg. The jump in debt as measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.’s gross domestic product.

      Borrowing has soared as central banks suppress benchmark interest rates to spur growth after the U.S. subprime mortgage market collapsed and Lehman Brothers Holdings Inc.’s bankruptcy sent the world into its worst financial crisis since the Great Depression. Yields on all types of bonds, from governments to corporates and mortgages, average about 2 percent, down from more than 4.8 percent in 2007, according to the Bank of America Merrill Lynch Global Broad Market Index.

      “Given the significant expansion in government spending in recent years, governments (including central, state and local governments) have been the largest debt issuers,” according to Branimir Gruic, an analyst, and Andreas Schrimpf, an economist at the BIS. The organization is owned by 60 central banks and hosts the Basel Committee on Banking Supervision, a group of regulators and central bankers that sets global capital standards.
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