Blast from the Past: 1983, the Debt Bomb Threat

Way back in 1983, Time magazine reported on a growing debt crisis:

Never in history have so many nations owed so much money with so little promise of repayment…. Much of it may never be paid off, and a major default somewhere, somehow, could trigger far-reaching political and economic reactions everywhere. The global economy is sitting on a debt bomb.

 

 

 

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