The American
Debt Trap
Noah Smith notes
“Option value, as
any finance professor knows, is important. Debt reduces it. One fundamental
reason for this is borrowing constraints -- it isn't so easy to just take out
more debt to make monthly payments on existing debt. That means debt forces you
to choose a lifestyle that maintains monthly cash flow. Another reason is that
debt has an all-or-nothing structure -- if you miss one payment, you’re
technically in default. Your credit rating instantly begins to suffer, and you
may incur other penalties. That means even a little risk-taking can be
intolerable for someone with lots of debt.”
Economic Effects of Environmental Regulations
Do Regulations Really Kill Jobs? By ALANA
SEMUELS
Real Estate Supply
versus Demand – Global Perspective
https://www.bloomberg.com/gadfly/articles/2017-01-19/keep-saving-hong-kongers