The four-body problem and debt in the year 2017

Quotable

"We cannot therefore avoid the question that Hyman Minsky posed —whether a monetary economy with debt contracts and capitalist financial institutions will ever be stable, and in particular whether stability is possible as long as there are fractional reserve banks.”

--Adair Turner

Commentary & Analysis

The four-body problem and debt in the year 2017

Different year, same problem—debt overhang!

Despite the best efforts of governments and central banks we remain stuck in the same vicious feedback loop...read more

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