The inability for governments to pay back debt spells economic disaster.
Financial Crisis Mining News
Shares in Caterpillar Inc (NYSE:CAT), the world's largest earth-moving equipment maker, fell 2.2% after hours as the company cut its 2015 profit outlook. The company warned weaker commodity prices would result in a bigger-than-expected decline in demand, worsened by mining companies scaling back expansions and shelving major projects.
After a 32-year hiatus, the U.S. Republicans are calling for a commission to look at the possible return of the gold standard, but experts say the idea is as simple as it is wrong.
If one were asked to describe the major global economic changes that have unfolded since the financial crisis began, a good starting place would be the massive shift of debt from the private to the public sector.