“Eventually the banking systems of all advanced economies reach magnitudes of 500 percent,”

It’s just very hard to teach a class of students about what has happened in the Global Financial Crisis.

And we have never observed modern finance-capitalist systems operating over a sustained period at this kind of credit-to-GDP leverage ratio.

More financial instability will introduce more uncertainty all down the line.

1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.

We have never in human history seen a run-up in credit of the kind we have just witnessed in advanced economies since 1970.

We may end up with a world based more on equity than debt, or more on market debt instruments than bank intermediation; but how and why we get there is a mystery.

A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels.

If we have moved back to a regime of regular financial crises – like the one we had from the 1870s to the 1930s.

Non-trivial understanding of the financial sector, credit, and the banking system.

The basic aggregate measure of gearing or leverage is telling us that today’s advanced economies’ operating systems are more heavily dependent on private sector credit than anything we have ever seen before.

How we ended up there and how we got to where we are today, without having some basic.

Then our economic future will be very different from our recent past.

Absent significant regulatory or tax changes, and a sharp transition could be disruptive.

To the security of employment at working age, to the challenge of accumulating for retirement.

In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all.

Macroeconomic stability will be more elusive and that will affect all of our lives: from the risks many will face in childhood.

We deserve leaders who stand for principal, who unite us all behind shared values, who cast aside anger for love. That is the standard we should expect from everybody.

I hope that tomorrow we can all, wherever we are, join in expressing our grief at Diana’s loss, and gratitude for her all-too-short life. It is a chance to show to the whole world the British nation united in grief and respect.

I have my ups and my downs like anyone. All I can do is be me.

All people belong to a We except me. Not to belong to a We makes you too lonesome.

I’m going to be real as hell and show you who I am, because I want the kids to see who I really am and the basketball players to see who I really am, and that’s all that matters to me.

Why it’s been left to me to smooth things over, I don’t know. Dennis Rodman, of all people.

If a man could but be turned about, he would see at once God and himself and the All.

I’m obviously not going to give you everything about my whole life, but as far as my personality, you see me all the time from watching the games.