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, corporations, or consumers, often poses greater systemic risks than it seems during a boom. — 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
