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Debt Bomb |
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Debt Bomb This occurs when a major financial institution, such as a multinational bank, defaults on its obligations that causes disruption not only in the financial system of the institution's home country, but also in the global financial system as a whole. Notes: A debt bomb can occur also if consumer spending is based heavily on debt. For example, if a nation incurred huge credit card debt, individual debt holders could default en masse and create trouble for creditors. Debt bomb A default on debt and obligations by a major financial_institution that disrupts the stability of the economic system. |
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| That's the catalyst that will ignite the debt bomb, he says. The weakness of the dollar reflects, in large measure, the Federal Reserve's determination to keep interest rates low as a means of encouraging the same consumer profligacy that has primed the household debt bomb. Watch closely how the new president's financial team deals with the so-called debt bomb, approximately US$17 billion of which comes due in April and May. |
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Debt Bomb
