CNBC: 'A Slow Fiscal Death' Awaits Some Countries in This 'Decade of Debt,' Says Economist Arthur Laffer
Article by Lee Ying Shan in CNBC
The world is looking at a debt crisis that will span the next 10 years and it’s not going to end well, economist Arthur Laffer has warned, with global borrowings hitting a record of $307.4 trillion last September.
Both high-income countries as well as emerging markets have seen a substantial rise in their debt piles, which has grown by a $100 trillion from a decade ago, fueled in part by a high interest rate environment.
“I predict that the next 10 years will be the Decade of Debt. Debt globally is coming to a head. It will not end well,” Laffer, who is President at .....