A Decade of Debt

A Decade of Debt

Book - 2011
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This book presents evidence that public debts in the advanced economies have surged in recent years to levels not recorded since the end of World War II, surpassing the heights reached during the First World War and the Great Depression. At the same time, private debt levels, particularly those of financial institutions and households, are in uncharted territory and are (in varying degrees) a contingent liability of the public sector in many countries. Historically, high leverage episodes have been associated with slower economic growth and a higher incidence of default or, more generally, restructuring of public and private debts. A more subtle form of debt restructuring in the guise of financial repression (which had its heyday during the tightly regulated Bretton Woods system) also importantly facilitated sharper and more rapid debt reduction than would have otherwise been the case from the late 1940s to the 1970s. It is conjectured here that the pressing needs of governments to reduce debt rollov
Publisher: Washington, DC : Peterson Institute For International Economics, 2011
ISBN: 9780881326222
Branch Call Number: 336.34 R2758D 2011
Characteristics: xix, 157 p. : ill. ; 23 cm
Additional Contributors: Rogoff, Kenneth S.


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Sep 21, 2014

Carmen Reinhart is soooo amazing! Look at all the outfits she's belonged to [as has Kenneth Rogoff] especially the Peterson Institute, founded by David Rockefeller and Mr. Austerity himself, Peter G. Peterson [said institute dedicated to ending Social Security, Medicare/Medicaid, and offshoring as many American jobs as possible, and getting every country to sign that pesky WTO Financial Services Agreement, don't ya know?]. Now Carmen and Kenny Rogoff submitted a kid's-type economic report, with grade-school arithmetic on an Excel spreadsheet, but they ommitted the important data, then later, lied [at least Harvard's Rogoff did] claiming the ommitted data - - which completely blows up their study, rendering it useless as the data indicates the EXACT OPPOSITE - - just bolsters their original thesis. Now why hasn't Harvard officially censured Rogoff as of yet? First, for the pathetic report, secondly for Rogoff's outrageous lies supporting the Peterson austerity movement - - completely refuted by his very own grade-school report, once all their data was included?


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