Musings on Markets: Data Update 8 for 2025: Debt, Taxes and Default

    There is a reason that every religion inveighs against borrowing money, driven by a history of people and businesses, borrowing too much and then paying the price, but a special vitriol is reserved for the lenders, not the borrowers, for encouraging this behavior. At the same time, in much of the word, governments … Read more

Musings on Markets: Sovereign Ratings, Default Risk and Markets: The Moody’s Downgrade Aftermath!

 I was on a family vacation in August 2011 when I received an email from a journalist asking me what I thought about the S&P ratings downgrade for the US. Since I stay blissfully unaware of most news stories and things related to markets when I am on the beach, I had to look up … Read more