Bearable Burden?

The US and UK can handle decades of debt, according to a Financial Times commentator who says that seeing debt as a serious problem is an “alarmist view.”

The US and UK can handle decades of debt, according to a Financial Times commentator who says that seeing debt as a serious problem is an "alarmist view." "High debt is seen as a serious problem – as Adam Smith warned more than two centuries ago: ‘The practice of funding has gradually enfeebled any state which has adopted it.’ The difficulty with this alarmist view is that economics does not tell us what is a ‘high’ level of debt. Without such knowledge, it is impossible to say that debt is too high or to announce that debt reduction should be an urgent short-term priority. It is true that such huge increases in government debt reflect serious economic problems. But, given the enormous financial shock the economy has experienced, we may be better off with high debt for a long period of time. In fact, although economics is quiet on the issue of what it means for debt to be too high it does tell us that in the face of large temporary shocks the optimal response is for debt to show large and long-lasting swings. Debt should act as a buffer to help the government respond to shocks. The logic is simple. The UK and US governments have the ability to borrow long term and the option to roll over their borrowing. Rather than abruptly raising taxation and cutting government expenditure, they should adjust fiscal policy over the long term."

How to bring more confidence to your conversations

Entrepreneur and author Andrew Horn shares his rules for becoming an assured conversationalist.
  • To avoid basing action on external validation, you need to find your "authentic voice" and use it.
  • Finding your voice requires asking the right questions of yourself.
  • There are 3-5 questions that you would generally want to ask people you are talking to.
Keep reading Show less

Bespoke suicide pods now available for death in style

Sarco assisted suicide pods come in three different styles, and allow you to die quickly and painlessly. They're even quite beautiful to look at.

The Sarco assisted suicide pod
Technology & Innovation

Death: it happens to everyone (except, apparently, Keanu Reeves). But while the impoverished and lower-class people of the world die in the same ol' ways—cancer, heart disease, and so forth—the upper classes can choose hip and cool new ways to die. Now, there's an assisted-suicide pod so chic and so stylin' that peeps (young people still say peeps, right?) are calling it the "Tesla" of death... it's called... the Sarco! 

Keep reading Show less

Scientists find a horrible new way cocaine can damage your brain

Swiss researchers identify new dangers of modern cocaine.

Getty Images
Mind & Brain
  • Cocaine cut with anti-worming adulterant levamisole may cause brain damage.
  • Levamisole can thin out the prefrontal cortex and affect cognitive skills.
  • Government health programs should encourage testing of cocaine for purity.
Keep reading Show less