Mountains Of Debt
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Author | : Michael Veseth |
Publisher | : Oxford University Press |
Total Pages | : 257 |
Release | : 1990-11-29 |
Genre | : Business & Economics |
ISBN | : 019992340X |
Like the United States today, Renaissance Florence and Victorian Britain were the richest, most dynamic economic systems of their times. Yet each succumbed to a fiscal crisis brought on by public debt and taxation and eventually fell into long-term economic decline. Now, public debt and taxation dominate the America policy agenda. Must the United States follow the same dismal pattern of fiscal crisis and economic decline? Mountains of Debt argues that it is not too late for the United States to change directions and suggests a comprehensive program for reform of American fiscal institutions that would reduce the deficit problem and at the same time reverse the long-term structural trends that are both the cause and the effect of the fiscal crisis today. Offering proposals for reducing the deficit, this new analysis could alter the current course of the United States economy.
Author | : Mauricio Drelichman |
Publisher | : Princeton University Press |
Total Pages | : 329 |
Release | : 2016-12-13 |
Genre | : Business & Economics |
ISBN | : 069117377X |
What the loans and defaults of a sixteenth-century Spanish king can tell us about sovereign debt today Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. Lending to the Borrower from Hell looks at one famous case—the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, Mauricio Drelichman and Hans-Joachim Voth analyze the lessons from this important historical example. Using detailed new evidence collected from sixteenth-century archives, Drelichman and Voth examine the incentives and returns of lenders. They provide powerful evidence that in the right situations, lenders not only survive despite defaults—they thrive. Drelichman and Voth also demonstrate that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The authors unearth unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, Lending to the Borrower from Hell offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.
Author | : Barry Eichengreen |
Publisher | : Oxford University Press |
Total Pages | : 321 |
Release | : 2021-08-11 |
Genre | : Business & Economics |
ISBN | : 0197577911 |
A dive into the origins, management, and uses and misuses of sovereign debt through the ages. Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debtsabout the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergenciesfrom wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governmentsnow more heavily indebted than beforefinally emerge from the crisis.
Author | : Steve Keen |
Publisher | : John Wiley & Sons |
Total Pages | : 140 |
Release | : 2017-05-09 |
Genre | : Political Science |
ISBN | : 1509513760 |
The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever–rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become 'The Walking Dead of Debt', and those that are next in line – including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.
Author | : Melanie Lockert |
Publisher | : Coventry House Publishing |
Total Pages | : 126 |
Release | : 2016-08-12 |
Genre | : Business & Economics |
ISBN | : |
In her debut book Dear Debt, personal finance expert Melanie Lockert combines her endearing and humorous personal narrative with practical tools to help readers overcome the crippling effects of debt. Drawing from her personal experience of paying off eighty thousand dollars of student loan debt, Melanie provides a wealth of money-saving tips to help her community of debt fighters navigate the repayment process, increase current income, and ultimately become debt-free. By breaking down complex financial concepts into clear, manageable tools and step-by-step processes, Melanie has provided a venerable guide to overcoming debt fatigue and obtaining financial freedom. Inside Dear Debt you will learn to: • Find the debt repayment strategy most effective for your needs • Avoid spending temptations by knowing your triggers • Replace expensive habits with cheaper alternatives • Become a frugal friend without being rude • Start a side hustle to boost your current income • Negotiate your salary to maximize value • Develop a financial plan for life after debt
Author | : Michael Ginsberg |
Publisher | : BQB Publishing |
Total Pages | : 368 |
Release | : 2021-07-01 |
Genre | : Fiction |
ISBN | : 1952782090 |
"A deftly crafted thriller that kept me turning pages---through politics, money, and murder---to the ending I didn't see coming." - Chris DeRose, New York Times Bestselling Author of The Fighting Bunch. A political thriller, tied in to real events, about an apocalyptic threat to America that is ticking remorselessly in the background while Americans continue their daily routines, oblivious to the danger. For years, China's spy agency has been watching the United States rack up trillions of dollars in debt, waiting for the right moment to weaponize that debt to collapse the American government and install a Communist puppet regime. At the same time, suburban accountant Andrea Gartner has been an outspoken critic of the debt as a leader in the South Carolina state Republican Party. When the United States elects President Earl Murray, he brings Andrea into his government as budget director to solve America's debt problem. But before the nameplate is even installed on her office door, China strikes, engineering an American debt crisis that brings the country to the brink of collapse. Government operations come to a screeching halt. With the American hegemon on its knees, China violently seizes the opportunity to fulfill its territorial ambitions in Taiwan and the South China Sea. Thrust into the rapacious, cutthroat world of American politics and surrounded by crises on all sides, Andrea begins a desperate effort to save the United States. Arrayed against her are cynical politicians and belligerent military brass, some of whom just might be secret Chinese agents. Will Andrea be able to keep the United States alive to fight another day? Or will America drown in a sea of red ink at the hands of the Chinese and see its democratic government replaced by a Chinese Communist puppet regime? American life as we know it is about to be obliterated by a debt bomb. And the only person who can save the country is a suburban accountant.
Author | : Paul Backholer |
Publisher | : ByFaith Media |
Total Pages | : 59 |
Release | : 2018-01-25 |
Genre | : Business & Economics |
ISBN | : 1907066519 |
The United States is building the largest debt mountain in history and Britain is still borrowing. How will these debts affect your family and will our nations still be paying them off in the 2080s? In this book the author explains how and why this debt time bomb was created, the spiritual roots of this crisis, and the harsh implications for Western defence and global stability. What went wrong and can we do anything about it? 2020 edition.
Author | : Carmen M. Reinhart |
Publisher | : Princeton University Press |
Total Pages | : 513 |
Release | : 2011-08-07 |
Genre | : Business & Economics |
ISBN | : 0691152640 |
An empirical investigation of financial crises during the last 800 years.
Author | : Michael Veseth |
Publisher | : Rowman & Littlefield |
Total Pages | : 240 |
Release | : 2010-01-16 |
Genre | : Political Science |
ISBN | : 0742567478 |
Globalization is in retreat, but history tells us that this is but a temporary reversal. Globalization will return, but in what form? More cycles of boom and bust? Or can globalization be rebuilt on a more feasible and sustainable platform? These are the compelling questions that Michael Veseth tackles in this thoroughly revised and updated edition of his award-winning book. Veseth shows how pre-crash visions of globalization were based on three powerful myths: that global finance was a stable foundation for a global economy, that global markets homogenized and Americanized the world, and that globalization itself was irresistible—impossible to shape or oppose at any level from the grassroots on up. The world economic crisis has revealed globalization's Achilles heel: the fundamental instability of global financial markets and the unsettled foundation of economic globalization generally. This realization is a necessary first step, but it alone is not enough. We must rethink the rest of globalization's myths, Veseth persuasively argues, if we want to move beyond boom and bust to a sustainable global future.
Author | : Sean Williams |
Publisher | : Pyr |
Total Pages | : 592 |
Release | : 2010-10-04 |
Genre | : Fiction |
ISBN | : 1591028175 |
In a remote city on the edge of two worlds, where blood has power and water is more precious than freedom, three far-flung friends unite on a quest to save their families. Sal Hrvati’s estranged father has brought more into the world than the woman he loved. Instead of saving her from the Void Beneath, he has summoned an unknown creature—a creature with a mission of its own and a past that stretches back to the beginning of the world. The quest to find both of them entangles Sal and his companions in a hunt for magical treasure on the floor of the Divide, a mighty crack in the earth inhabited by creatures that are not remotely human. Desert landscapes and dirigibles feature in a fast-paced fantasy that combines romance, adventure, and humor with an original take on magic. The Books of the Cataclysm take inspiration from many arcane and mythological sources. In positing that this world is just one of many "realms," three of which are inhabited by humans during various stages of their lives, it begins in the present world but soon propels the reader to a landscape that is simultaneously familiar and fantastic.