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There is a huge debt overhang and the question is how this will be reduced. What fraction of the debt will be defaulted on, and what fraction will be inflated away?

The financial sector already got to offload a lot of its debt on the public finances through the bailouts of 2008-9. Now it's time for the public finances to offload their debt on...

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Thu Apr 29th, 2010 at 05:36:17 AM EST
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