Scholarly Comments on Academic Economics

Courting an Avoidable Financial Crisis

by

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.

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Volume (Issue)
Pages
60-70
Published
JEL classification
G01, H63
Keywords
sovereign debt crisis, financial crisis
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