Posts Tagged ‘default’

  • Celebrating Economic Independence

    Jul 4, 11 • 303 Views • No Comments

    Alexander Hamilton must have been worried. In 1790, as Secretary of the Treasury, a troubled economy had become his responsibility. He had a huge federal debt to fund, a banking sector that was distressed, and manufacturing to stimulate. Sound familiar?...  [read more]

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    Debt Deja Vu

    Jun 9, 11 • 311 Views • No Comments

    Again, Greek debt was in the news. This time, though, the focus was other defaults. For as long as nations have existed, they have borrowed money and then been unable to repay it. The first report of Greece defaulting on her debt was during the fourth century...  [read more]

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    Euro Problems

    May 10, 11 • 317 Views • No Comments

    This country had a national railroad that received $100 million euros a year in revenue but had expenses of $700 million. All public jobs paid an average of 3 times what the private sector paid. Beauticians, musicians and radio announcers were retiring with...  [read more]

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    Default Records

    Feb 26, 10 • 328 Views • No Comments

    Seeing current concerns about the money owed by Greece, I wondered about her past record.  Until 1932, it was not good.  The first report of Greece defaulting on her debt was during the fourth century B.C.  At the time, ten Greek municipalities defaulted...  [read more]