"What were essentially private-sector debt problems were rechristened as 'the Debt' generated by 'out-of-control' public spending".
It also said in the letter that its Distressed Opportunity Fund, which invested in troubled corporate and sovereign debt, generated a compound annual return of 14 percent for the three years ending last March.
Last year he was declared personally bankrupt last year after losing 10M Krona in an investment into a Danish newspaper, which was admittedly debt generated mostly under the previous ownership.
The Project on Government Oversight calculates the share of the interest on that debt generated by defense-related programs at more than $100 billion annually.
Mr Leonhardt seems to be arguing that high debt generates a slow recovery which leads to high unemployment.
It failed, but the problem was that the Yale plan made all students mutually responsible with respect to the repayment of the total debt, generating a snowball effect in defaults: the burden on nondefaulting students was increased by the default of their classmates.
Another is requiring large financial institutions to pay a fee of seven-tenths of a percent on their uninsured debt, generating $6 billion.
And this sort of thing has been done – the Drop the Debt campaign generated relief of £50bn, equivalent to 3,000 years of Red Nose Days".
According to the former Enron executives, the goal of the company's off-balance-sheet partnerships was to help Enron quickly make deals that lowered its debt or generated earnings and cash flows.
The abject cause of "stagflation" and a falling dollar — this is not over, and soon to be visited by rampant inflation and soaring interest rates — is our staggering current account deficits and national debt, all generated by a radical Republican regime.
