I stay away from politics on this blog for a number of reasons. However, I couldn’t resist passing along this article from Sky News.
The article describes a study by the Bank for International Settlements (BIS) in which the reporter breathlessly breaks the news that “high debt is bad for growth.” I know, shocking stuff.
I am oversimplifying a bit as the piece goes on to describe warning thresholds for three types of debt (corporate, government, and personal), and how the UK is above all three. However, it is noteworthy to us here on TPS planet that someone needed to spend lots of time proving that there is no free lunch, and that it was worth a place on Yahoo!’s front page.