Economies

World Drowning in a Sea of Debt

There just is no easy way out. (Matt Cardy/Getty Images)
There just is no easy way out. (Matt Cardy/Getty Images)

Oftentimes, academic research is commissioned to support policy. It is no different in economics and finance, where most of the reports coming out of the...




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  • Detroit emergency manager Kevyn Orr (L) speaks at a news conference in Detroit as Michigan Gov. Rick Snyder, who appointed Orr, listens, on March 14, 2013. Orr's success in shepherding Detroit through its historic bankruptcy will leave him unemployed, at least temporarily, when and if his task in the Motor City is complete. (AP Photo/Paul Sancya)

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  • FILE - In this Monday, Sept. 9, 2013 file photo, the Dome of the Rock Mosque in the Al Aqsa Mosque compound, known by the Jews as the Temple Mount, is seen in Jerusalem's Old City. 2014 was supposed to be a record-breaking year for tourist visits to Israel. But all that changed when this summer’s 50-day war between Israel and Hamas prompted jittery travelers to cancel trips en masse. Merchants in Jerusalem’s Old City say the feel the sting. The area’s cobblestone streets are typically chock full of tourists visiting the holy sites within the storied walls. But they've been eerily empty over the summer. (AP Photo/Sebastian Scheiner, File)

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  • Traders work on the floor of the New York Stock Exchange (NYSE) on Sept. 25, 2014, in New York City. (Spencer Platt/Getty Images)

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  • FILE - In this Thursday, July 3, 2014, file photo, specialist Jay Woods is reflected in a screen at his post that shows five years of the Dow Jones industrial average, on the floor of the New York Stock Exchange. History shows higher interest rates don’t always upend stocks. The Fed is set to end its bond purchases in October and most economists expect the first short-term rate hike by mid-2015. These early increases, analysts say, are unlikely to derail the current bull market for stocks, because the Fed is raising rates in response to a growing economy. (AP Photo/Richard Drew, File)

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  • According to economy journalist Pablo Wende, if Argentina solves the holdouts issue, it could get international financing with reasonable rates. (Daniel Musa/Epoch Times)

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  • Traders work on the floor of the New York Stock Exchange (NYSE) on September 25, 2014 in New York City. (Spencer Platt/Getty Images)

    Stocks Rise in Friday Trading; Nike Gains 11 Percent

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  • Cynthia Dodd-Simonson shops at a Family Dollar store in Wilmington, N.C., on Sept. 4, 2014. The University of Michigan issues its monthly index of consumer sentiment for September on Friday, Sept. 26, 2014. (AP Photo/The Star-News, Matt Born)

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  • FILE - The New York Stock Exchange is shown in this Tuesday, Aug. 9, 2011 file photo taken in New York. Japanese stocks led most Asian benchmarks lower Friday Sept. 26, 2014 while European stocks drifted in lackluster early trading after Wall Street's worst day since July, as investors awaited the latest economic data on the world's largest economy.  (AP Photo/Mark Lennihan, File)

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  • In this Sept. 19, 2014 photo, Laurette Eugene makes the final assembly of body armor at the Point Blank Body Armor factory in Pompano Beach, Fla. The government issues its third and final estimate of how fast the U.S. economy grew in the April-June quarter on Friday, Sept. 26, 2014. (AP Photo/J Pat Carter)

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  • Spanish minister of the Economy and Finance Luis de Guindos attends the memorial service for Spanish businessman and President of "El Corte Ingles" Isidoro Alvarez at the Ramon Areces Foundation on Sept. 15, 2014, in Madrid, Spain. (Carlos Alvarez/Getty Images)

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  • A worker walks among pipes and valves at the Dashava natural gas facility on September 18, 2014 in Dashava, Ukraine, which is both an underground storage site for natural gas and an important transit station along the natural gas pipelines linking Russia, Ukraine and eastern and western Europe. (Sean Gallup/Getty Images)

    EU Proposes Deal Help Ukraine Pay Russia Gas Debts

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  • FILE - This Jan. 4, 2010 file photo shows an entrance to a Wall Street subway station in New York. Global stocks markets were mostly higher Thursday Sept. 25, 2014 after a surge in new home sales in the U.S. bolstered sentiment. But gains were limited by worries about Europe's stagnant economy and violence in Iraq and Syria. (AP Photo/Mark Lennihan, File)

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  • A worker walks among pipes and valves at the Dashava natural gas facility on September 18, 2014 in Dashava, Ukraine, which is both an underground storage site for natural gas and an important transit station along the natural gas pipelines linking Russia, Ukraine and eastern and western Europe. (Sean Gallup/Getty Images)

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