indebted

Yet Carpenter feels more personally indebted to rock ‘n’ roll: the Beatles, the Stones, the Doors.

She particularly noted the economic progress of her indebted country, emphasising that borrowing costs are now lower than those of France.

The long-term case is the “debasement trade,” the idea that indebted and politically-weak governments will eventually do the opposite of Volcker and choose inflation over recession.

This time, the U.S. taxpayer will be on the hook, and Argentina will be more indebted, with very little to show for it.

In recent weeks, highly indebted Argentina has had to spend more than a billion US dollars to defend the peso, a strategy most economists believe is unsustainable.