It Can’t Happen to U.S.
Posted in Financial Institutions, Government Gone Wild on Mar 15th, 2010
I am reading Reinhart and Rogoff’s excellent book on financial crises. In it, they point out that emerging markets suffer from what they call “debt intolerance” – you can get into serious troubles even when you are running what seem to be low levels of debt. To illustrate they show that 50% of defaults on […]
