Current debates about Economic crises typically focus on the role that public debt and debt-fueled public spending play in Economic growth.
About the Author: Philanthropist and former banker Richard Vague is a managing partner of Gabriel Investments and Chairman of The Governor\'s Woods Foundation..
All informed citizens, but especially those interested in Economic policy and history, will want to contend with Vague\'s distressing arguments and evidence.
Since American debt levels have not declined significantly since 2008, Vague believes that Economic growth in the United States will suffer unless banks embrace a policy of debt restructuring.
Vague presents an algorithm for predicting crises and argues that China may soon face disaster.
Relying on the findings of a team of economists, credit expert Richard Vague argues that the Great Depression of the 1930s, the Economic collapse of the past decade, and many other sharp downturns around the world were all preceded by a spike in privately held debt.
This illuminating and provocative work shows that it is the rapid expansion of private rather than public debt that constrains growth and sparks Economic calamities like the financial crisis of 2008.
Current debates about Economic crises typically focus on the role that public debt and debt-fueled public spending play in Economic growth
