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The Devil’s Den review – folk horror opera with morris dancing and a
sinster rabbit is an eccentric delight
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*Howard Assembly Room, Leeds*Isabella Gellis’s first full-length stage work
has the feel of a modern mystery play as it unpacks the legends surrounding
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1 hour ago
Seed Newsvine
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Joseph Weisenthal at Business Insider describes this as a “magical threshold of debt.” But there’s nothing magical about it.
ReplyDeleteAs I’ve explained before, the precise mechanism for this isn’t well understood. I suspect it may largely be an effect of signaling. Very high levels of debt indicate the economy has broken down and that government’s room for ameliorative spending may be reaching its limit, which causes further private contraction. So you get into a reflexivity trap.