Category Archives: Government Debt
Cynics and the Big Fat Greek Default
“Crito, we owe a rooster to Asclepius. Please don’t forget to pay the debt,” were the final words of Socrates. He uttered them shortly after downing poison hemlock in 399 BC, in fulfillment of his death sentence for corrupting the … Continue reading
The Fastest Way to Escape a Debt Trap
Borrowing money and spending it can be fun. Certainly more fun than saving and paying down debt. Not only that, borrowing money’s much easier too. Saving takes prudence, discipline, and hard work. Running up the credit card takes none of … Continue reading
China’s Economy is Doomed
Sometime early last summer, Hui Ka Yan, chairman of Evergrande Real Estate in China, displayed his brilliant deal making abilities. He took time off from developing and selling residential real estate buildings to sell China’s most popular soccer team to … Continue reading
The End of the New Paradigm
There is a pleasant mist in the air which conceals the depths of the disorder with earnest efficiency. Cavernous divergences exist between the financial economy and the real economy. Yet only the crankiest will speak of them. The union in … Continue reading
