indebted

In August, Sonko unveiled an economic recovery plan for the highly indebted nation focussed on a shift toward greater domestic funding.

Yet Carpenter feels more personally indebted to rock ‘n’ roll: the Beatles, the Stones, the Doors.

She particularly noted the economic progress of her indebted country, emphasising that borrowing costs are now lower than those of France.

The long-term case is the “debasement trade,” the idea that indebted and politically-weak governments will eventually do the opposite of Volcker and choose inflation over recession.

This time, the U.S. taxpayer will be on the hook, and Argentina will be more indebted, with very little to show for it.