Epstein Secrets

ount " The other difference is that now the super-rich are global. And that's not sort of a cultural ch

5 percentage points, more than in any other country; at this rate, they could reach sustainable debt levels in two years or so." Kenneth Rogoff and Carmen Reinhart, the leading experts on financial crises, argue that the United States is performing better than most countries in similar circumstances. U.S. consu

AN is born free but is everywhere in debt. In the rich world, getting hold of your first credit card is

programmes and letting down foreign creditors, countries may find it easier to disappoint the foreigners. Defaults have been common in the past, as Carmen Reinhart and Ken Rogoff showed in their book, "This Time is Different". Adam Smith, a founding father of economics, noted in "The Wealth of Nations" that "w

ummary; and 460 PowerPoint slides containing data-rich observations. There’s a lot of material — think o

) showed Federal revenue sufficient to support entitlement spending + interest payments until ZOG0E — 35 years later than current projection. Note: *Carmen Reinhart and Kenneth Rogoff observed from 3,700 historical annual data points from 44 countries that the relationship between government debt and real GDP gr

Is Different: Eight Centuries of Financial Folly, Carmen Reinhart and Kenneth Rogoff use historical data from 66 co

ctor Matheus Dibo Vice President Mary Catherine Rich Vice President This material represents the view

ernational Macroeconomics, by Maurice Obstfeld and Kenneth Rogoff, MIT Press, 1996. e This Time Is Different: Eight Centuries of Financial Folly, by Carmen Reinhart and Kenneth Rogoff, Princeton University Press, 2009, (selected chapters). Readings: Readings can be accessed online or are available on Reserve at

rt E. Lucas, 1988, “Why Doesn’t Capital Flow from Rich to Poor Countries,” American Economic Review, May