In recessions indiscriminate credit card borrowing really comes back to bite lenders. Additional worry is distress borrowing -> lenders tighten standards inducing a pro cyclical squeeze. At least that is what this data seems to suggest. @BittelJulien via @SoberLook https://t.co/jhm4G1DjSE
In 1994 Barry Posen devised a defense strategy for a newly independent Ukraine which envisioned a Manstein-styel flexible defense v.
In 1994 Barry Posen devised a defense strategy for a newly independent Ukraine which envisioned a Manstein-styel flexible defense v. Russian attack. See Chartbook Newsletter