She continued: "We have borrowed $2 trillion to stabilize our economy. China will turn around and buy that debt. They’ll buy that. … [Read more...] about China should waive some of America’s $1TRILLION debt after coronavirus ‘cover-up’, senator says
Even so, the dry prose crisply conveys analysis of real force. Its conclusion is that not only do we need to stop sinking into the red, we also need to reduce existing debts. This is where Turner becomes a devilish dissenter from the orthodoxy. So much has gone wrong with banks making up money, he says, that the government needs to consider creating purchasing power instead, whether by handing currency to citizens, or paying off its own debt. If it sounds like an invitation for the west to follow the ruinous Zimbabwean road, remember that the Bank of England has already poured £375bn of made up money into the banks through quantitative easing. Japan has now pushed QE to the point that it is almost indistinguishable from simply printing notes. … [Read more...] about Between Debt and the Devil by Adair Turner review – should the government start printing money?
The unsavoury incident came on top of a drink drive ban after he crashed his motor into a wall after a night out in Cheshire in April last year. … [Read more...] about Footie ace Danny Drinkwater’s trendy restaurant racks up debts of nearly £2million in just one year
Budgeting Advance - You may be able to get help from the government to help with emergency household costs of up to £348 if you're single, £464 if you're part of a couple or £812 if you have children. These are only in cases like your cooker breaking down or for help getting a job. You'll have to repay the advance through your regular Universal Credit payments. You'll still have to repay the loan, even if you stop claiming for Universal Credit. … [Read more...] about Universal credit and benefit debt repayments paused during coronavirus crisis giving extra cash to millions
“If there was ever a time to recognise the need to reform access to credit it is now,” said the Labour MP Stella Creasy,who has campaigned against high-cost credit. “That the Treasury has evidence on how to do this makes the case even more compelling for action as it shows it’s possible even when there isn’t a financial crisis looming.” … [Read more...] about UK government commits to pilot of no-interest loan scheme