The black sheep is South Korea, where households and firms are even more indebted than in America.
Unable to raise cash, Russia's heavily indebted billionaires have been forced to give up prime assets pledged as collateral or beg for bailouts.
The old physiologist, Burdach, to whom we are indebted for a careful and discriminating description of the phenomena of dreams, expressed this conviction in a frequently quoted passage (p.
In heavily indebted economies falling prices would increase the real burden of consumers' and governments' debts.
However, at the last minute, Mr Karmazin rustled up another deal, which grants his heavily indebted firm a reprieve.
Second, are the most indebted countries ready to endure economic pain-wage cuts, the end of cherished benefits and the imposition of labour-market reforms-to balance the books and encourage growth?
If sovereign risk is back as a worry, what should indebted governments do?
The experience so far of the most indebted economies offers useful pointers on what to do, and what not to do.
Households are struggling to pay down debt to get out of the hole they're in, and if they give up and default, that places more pressure on indebted borrowers around them.
You can see on the handout those poems by those classical authors that Milton's Lycidas is most indebted to.
The indebted countries of the West should escape this predicament.
A study, aptly from Citigroup (which axed 52,000 people this week), shows cash hoarders now outperforming indebted firms, having lagged before.
In contrast, some rich countries have fewer options. Euro membership, for instance, has removed the option of quasi-default via inflation for the heavily indebted on Europe's periphery.
Because falling prices make debt more expensive, indebted households would be more anxious to pay off loans, even as other consumers were benefiting from a boost to their purchasing power.
A depressed and indebted country in the late 1980s suddenly became the bubbly Celtic Tiger of the 1990s.
We were greatly indebted to those who had gone before(us).
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