If a country’s growth rate is higher than the growth in the interest cost of servicing its debt, a debt model is sustainable. A business can only roll over it’s debt, if it’s capital base grows faster than the cost of servicing that debt, and same holds true for government. This is basic finance. The [...]

The orange juice futures market is a better predictor of Florida’s weather than the National Weather Service. A 1984 paper by UCLA finance professor Richard Roll.