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Courting an Avoidable Financial Crisis

Author

Listed:
  • Joseph J. Minarik

Abstract

This paper provides an interpretation of how U.S. politics dulls the awareness of policymakers as to the danger of the current fiscal-policy deadlock in Washington, which could set in motion vicious cycles that could not be reversed. It hypothetically extrapolates that behavior to show how it could take the country beyond a tipping point into a financial abyss. The purpose is to show the urgency of honorable compromise to head off irreversible drastic consequences.

Suggested Citation

  • Joseph J. Minarik, 2012. "Courting an Avoidable Financial Crisis," Econ Journal Watch, Econ Journal Watch, vol. 9(1), pages 60-70, January.
  • Handle: RePEc:ejw:journl:v:9:y:2012:i:1:p:60-70
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    More about this item

    Keywords

    sovereign debt crisis; financial crisis;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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