And then the regime has over-borrowed
for grand 'legacy' projects and now we suffer heavy taxes to repay the loans.
Mr Lapping states that "history confirms this" when suggesting that time and again socialist governments have overspent and over-borrowed
Time and again,socialist governments have over-spent and over-borrowed
. History confirms this.
This is because the over-borrowed
get fearful and desperate; fearful that they might not be granted new or additional loans by the large, licensed lenders; desperate because the over-borrowed
are led to rely on lenders with minimal documentation and fast loan releases.
Many of these firms over-borrowed
from multiple banks.
In spite of the fact that the UK is grossly over-borrowed
they are calling, or should I say demanding, that the Conservatives move away from their austerity policy which has proved that it is the only way forward, and by the result of the general election it is what the nation wants.
They also have over-borrowed
households, an overleveraged real estate sector and bust banks; all a result of a speculative, credit-fuelled property boom.
Cyprus is lifting all capital restrictions on Monday that were imposed on the island two years ago when the economy reached a melting point and international lenders offered a e1/410 bln bailout plan, conditional to rebuilding the over-borrowed
banking system and reforming the public sector.
Yet, that is where we are most likely goingas asset bubbles meet their inevitable demise and the over-borrowed
go spectacularly bust.
The possibility that the continued reduction of money-printing by the US central bank will cause more stress for over-borrowed
emerging markets with external trade deficits
, they repaid debt; facing a collapse in housing and stock prices, they increased savings.
"Once this bureau goes live there will be consequence for a short period," he said, explaining that banks will stop lending because they will discover that every single customer has over-borrowed