Sublime

In turn, the national debt would rise from 35 percent of GDP in 2003 to 50 percent of GDP in 2013—the highest since the mid-1950s, when the United States was still paying down the debt it incurred to fight World War II. The projected red ink and increased debt would be even greater in the years thereafter, when the baby-boom generation reaches reti

Most disheartening of all is the evidence that the decision to make the August 2001 loan, and other measures that went sour, were driven by outsiders' agendas that did not dovetail with the interests of the Argentine people. The IMF's desire to skirt blame for the collapse consistently tilted its policymaking in the wrong direction, toward delaying

A combination of President George W. Bush's tax cuts and Obama's post-financial-crash stimulus had, in a decade, taken federal debt from 33% of US national income to 62% in 2010. Unreformed, it was projected to keep rising, to 90% in 2020

Every hyperinflation looked the same. “Hyperinflations are always caused by public budget deficits which are largely financed by money creation.” But even more interestingly, Bernholz identified the level at which hyperinflations can start. He concluded that “the figures demonstrate clearly that deficits amounting to 40 percent or more of expenditu