Dear Mr. Lingens /Austrian Author and economist/, I don’t know if you are doing well to sing the praises of the beauty of debt while comparing little Austria with the big US. Remember, since about the 1990s, not only the whole world, but also many Americans are beginning to talk about the decline of their country (and the most clear-sighted observers of the U.S. are still to be found in the US themselves). Continue reading The United States in a debt binge – role model for the rest of the world?
When the highest representatives of a community are eager to throw mud at each other. When arguments merely serve as a façade to convey anger, mockery or contempt, then history has just turned a corner. One period has come to an end, a new one begins. Since September 29, 2020 we know that in the United States of America democracy is undergoing a process of rapid disintegration – it is being torn apart by diverging forces.
Recently (on 14 August) I had the good fortune to follow an interview with the British historian Adam Tooze on Austrian Radio. I was so impressed that I immediately took to reading his book “Crashed. How a Decade of Financial Crises Changed the World” (Allen Lane 2018) ) – and so an important work finally reached me with a two-year delay. These are my comments: