Perhaps more than anything else, failure to recognize the precariousness and fickleness of confidence - especially in cases in which large short-term debts need to be rolled over continuously - is the key factor that gives rise to the this-time-is-different… — Carmen Reinhart Copy Share Image
The essence of the this-time-is-different syndrome is...rooted in the firmly held belief that financial crises are things that happen to other people in other… — Carmen Reinhart Copy Share Image
Perhaps more than anything else, failure to recognize the precariousness and fickleness of confidence - especially in cases in which large short-term debts need… — Carmen Reinhart Copy Share Image
The biggest threat to advanced economies is that debt will accumulate until the overhang weighs on growth. — Carmen Reinhart Copy Share Image
If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks,… — Carmen Reinhart Copy Share Image
