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Monday, January 9, 2012

The European Crisis by flow chart.

1 comment:

EconPirate said...

I must say this interesting. The rhetoric from the media regarding Europe has been completely based on gov't borrowing and spending. This seems to partially explain Japan having such high a debt/GDP yet with seemingly little to no consequences. Having read this analysis, it seems as if a rather large hole is poked into the conventional wisdom of the importance of debt/GDP.