If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom.


This Time Is Different: Eight Centuries of Financial Folly (ed. Princeton University Press, 2011) - ISBN: 9780691152646

Carmen Reinhart Quotes

If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks,...

If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks,...

If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks,...

If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks,...