Three decades of rapid economic development in China has left a troubling legacy – widespread soil pollution that has contaminated food crops and jeopardized public health. Although they once labeled soil data a “state secret,” Chinese officials are slowly beginning to acknowledge this grave problem. The first in a series.
Keep an eye on the shadow banking system – it is about to be shaken to the core. According to the Financial Stability Board, the size of the global shadow banking system has reached an astounding 75 trillion dollars. It has approximately tripled in size since 2002. In the U.S. alone, the size of the [...]
As Puerto Rico begins to ration water, close schools and lose its health care system under the weight of a $73 billion debt, tens of thousands of its inhabitants are fleeing to the United States, where prospects of finding a better life are dim. - 2015/07/03
"... this [Greek] debt is so big that everyone understands that it won’t be repaid. Loans to Greece have just bought time so that those in power don’t have to take decisions. This is like a game: who can hold out longer by not showing that this money has been lost? This burden has become bigger and there obviously is no possibility to repay.... debt writedown of Greek debt will come after bankruptcy of state."
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