Get spiked by email. Today, we are forever scrutinising our dialogue and conversation, looking out for offensive and insulting content. Of course, words, especially demeaning or degrading ones, have always had the capacity to hurt peopleâs feelings. But itâs different today.
Observers have ruminated on the potential value of the works at the Detroit Institute of Arts, the city's collection of classic cars, even its zoo animals. But the sale of any of those assets would just be a drop in the bucket. At $18 billion, Detroit's staggering debt is simply a lot to wrap one's head around. Even the city couldn't fully comprehend the magnitude, it seems, until Emergency Manager Kevyn Orr actually went ahead and filed for Chapter 9 bankruptcy. How could a city of 701,475 people rack up $18 billion in debt?
Standard Chartered estimated last week that China credit has peaked. The debt to GDP ratio is stabilizing, the bank said in a report to clients. Chinese companies have an estimated $1 trillion in foreign debts as of the end of 2014, compared to $308 billion for Brazilian corporates and $196 billion for Indian firms.