Posts Tagged ‘default’

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    Greece and Argentina

    Oct 25, 11 • 560 Views • No Comments

    Nobody wants Greece to become Argentina. It all began with what scholars Rogoff and Reinhart called the lending boom of the 1990s. Enjoying the influx of dollars, Argentina borrowed and grew and prospered…for awhile.  But when recession hit at the end......  [read more]

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    Greek Haircuts

    Jul 6, 11 • 428 Views • No Comments

    When people talk about haircuts and Greece, they are no longer referring to the female beauticians that retired at 50 with a generous state pension because their work was “arduous.” Instead, they are discussing the losses, known on Wall Street as......  [read more]

  • Celebrating Economic Independence

    Jul 4, 11 • 369 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 • 389 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 • 383 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]