As this piece is being written, the Obama administration is exploring the idea of creating one or more aggregator institutions, “bad” banks, to take illiquid assets - mostly mortgages and mortgage-related securities of uncertain value - off the hands of the private banking system. Indeed, by...

This book proposes a method for calculating China’s debt based on a quantitative econometric analysis. This is conducted by measuring the relationship between China’s debt size and economic growth. The conclusion that is reached is as follows: China’s current debt has already exceeded the...