Word: debts
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...question such a specter poses to both banks and governments is vexing: doesn't extending new loans to companies and individuals whose income might significant suffer during economic shrinkage risk creating the same sort of toxic debt that provoked the on-going global crisis in the first place...
...course it is - it's like giving an alcoholic more booze," says Gabriel Stein, director of Lombard Street Research in London, noting that while the degree of debt varies by nation, it's become a troubling factor for households and companies throughout the developed world. "Banks are being told to lend money to people who have already surpassed their borrowing capacity - and being told to do so under the same terms applied during the credit boom. It's not a good idea." But so far, no one seems to have come up with a better...
This is not the first time the clock has experienced technical difficulties. In 1991, Durst had to remove and revamp the clock so it could keep pace with the national debt's $13,000-per-second increase. ("Interest payments on the national debt are becoming the largest federal expenditure," he noted at the time). Before his death in 1995, the amount began accumulating so fast that the last seven digits became totally illegible. At one point, the surge actually crashed the computer that calculates the billboard's numbers...
...September 7, 2000, Durst's son, Douglas, who now serves as the company's president, hung a red, white and blue curtain over the sign. The ceremony not only marked what would have been his father's 87th birthday, but also an historic moment in U.S. history - the national debt was shrinking. Because the clock wasn't built to count backwards, Durst pulled the plug. Just two years later, following the burst of the dot-com bubble and the economic fall-out of 9/11, he turned it back on. The billboard has ticked forward ever since...
...country's economy, which is otherwise booming. The economy has expanded by nearly 10% monthly since Garcia took office and indicators even during the international financial meltdown look good. Peru, for the first time in his modern history, now has more international reserves than it owes on its foreign debt. Too bad none of that good news appears to be rubbing off on the President...