The Global Debt Bomb describes the rapid increase in public and
private debt in the G7 nations since the 1960s, why this debt has
grown so quickly, and what the economic, political, and social
consequences of this rise in debt have been. International in
focus, this book broadens the debate on public debt to include
household and corporate debt, avoids alarmist rhetoric, and puts
our current problems in historical perspective.
The central message of The Global Debt Bomb is that the
debt-induced financial crisis that affected the Pacific Rim and
much of the developing world in 1998 will likely spread to the
industrialized countries in Europe and North America when current
market and asset "bubbles" burst. How to prevent or mitigate
another possible crisis is the primary contribution of this
book.
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