debt

• Debtor Nation | Harvard Magazine
  mohit
  Nov 19 2008
  

  This was written a year ago.

  Quoted: The global imbalances created by this dynamic of American borrowing and foreign lending appear stable for now, but if they slip suddenly, that could pose serious dangers for middle- and working-class Americans through soaring interest rates, a crash in the housing market, and sharply higher prices for anything no longer made domestically.

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