Courting an Avoidable Financial Crisis

Joseph J. Minarik

Econ Journal Watch, 2012, vol. 9, issue 1, 60-70

Abstract: This paper provides an interpretation of how U.S. politics dulls the awareness of policymakers as to the danger of the current fiscal-policy deadlock in Washington, which could set in motion vicious cycles that could not be reversed. It hypothetically extrapolates that behavior to show how it could take the country beyond a tipping point into a financial abyss. The purpose is to show the urgency of honorable compromise to head off irreversible drastic consequences.

Keywords: sovereign debt crisis; financial crisis (search for similar items in EconPapers)
JEL-codes: G01 H63 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ejw:journl:v:9:y:2012:i:1:p:60-70

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