• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • The Global Government Debt Bubble: Ireland Edition

    bubble_debt090218.jpg

    Last month Heritage fellow J.D. foster wrote:

    The global recession has caused deficits to balloon almost everywhere, and governments worldwide are considering their own massive programs to stimulate their economies. So the United States will be offering this great wave of federal debt to the credit markets while most other countries will be doing the same. Because interest rates are set on global markets, this even larger global wave of government debt is likely to have much greater interest rate effects than would be the case if the United States were acting alone.

    Last week the Guardian reported:

    Fears are growing that Ireland could default on its national debt after the cost to insure against possible losses on loans to the country rose to record highs at the end of last week.

    Credit ratings agency Moody’s recently followed rival Standard & Poor’s in warning it might downgrade Irish debt, amid fears that one of Europe’s former success stories is falling into a deepening recession.

    The Global Government Debt Bubble is coming. And $3.27 trillion in new deficit spending doesn’t help.

    Posted in Ongoing Priorities [slideshow_deploy]

    One Response to The Global Government Debt Bubble: Ireland Edition

    1. Pingback: Various Economic Notes « 36 Chambers - The Legendary Journeys: Execution to the max!

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×