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Turner refers to this as the problem of "debt overhang".
Of course, people often talk about debt and the problem of debt.
But it's not a problem of debt, it's unemployment, which last Friday passed the 20% mark.
It wouldn't be accentuating the problem of debt overhang, or creating the conditions for yet another boom-and-bust cycle.
WHEN people talk about the problem of debt around the European periphery, they generally frame the issue something like the following.
Once we take the problem of debt into account, I think you'd want to add deleveraging and default — which reduce the debt overhang — to his list.
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Problems of debt overhang become that much worse for the economy".
Understanding and measuring debt intolerance is fundamental to assess the problems of debt sustainability, debt restructuring, capital market integration, and the scope for international lending to ameliorate crises.
Convertible equity solves some of the problems of debt financing by eliminating the interest rate and the need for repayment.
The battle with drugs, and related problems of debt and violence is harder for the prison to deal with.
(Leave on one side the question of whether flexible prices get you to full employment in a liquidity trap, especially with problems of debt overhang).
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