GLOBAL FINANCIAL AND ECONOMIC CRISIS: PHASE 3 (DEBT PYRAMIDS)
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GLOBAL FINANCIAL AND ECONOMIC CRISIS: PHASE 3 (DEBT PYRAMIDS)
Annotation
PII
S268667300000619-0-1
Publication type
Article
Status
Published
Edition
Pages
3-22
Abstract
Major consequence of the current financial and economic crisis in the U.S.A is the formation of a colossal Federal Government debt as the price paid for floating on economic surface. Federal Government's debt pyramid threatens with a sudden fiscal crisis which may occur if the U.S. debt surpasses it's GDP. Now the USA is rapidly approaching this threshold.
Keywords
gross federal debt, budget deficit, sudden fiscal crisis, double-dip recession, growth of political instability
Date of publication
01.01.2011
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0
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368
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