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59,000 runners, 93,024 energy gels and £100m for charity: the London
Marathon is booming
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The prodigious growth of running clubs, fuelled by young women, has seen
the popularity of the event sky-rocket
There is always magic in the air on a Lon...
2 hours 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.