If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.
More Quotes from Jeffrey Sachs:
Development can really work everywhere. But most of sub-Saharan Africa, the Andean region, and Central Asia face obstacles.Jeffrey Sachs
In my view, there is an urgent need to communicate with the public and help to explain where there is consensus, and where are there doubts about the issues of sustainable development.
Jeffrey Sachs
White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.
Jeffrey Sachs
For many parts of the world, the chasm that has to be crossed to get from where they were, whether it's a dictatorship, economic collapse, financial crisis or all of the above, to the other side, that is a working market economy and a functioning democracy, is extraordinarily difficult and requires help.
Jeffrey Sachs
We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.
Jeffrey Sachs
The Russian drama began at the end of 1991, when the Soviet Union mercifully ended. Russia and 14 other new countries emerged from the ruins of the Soviet Union. Every one of those 15 new states faced a profound historical, economic, financial, social and political challenge.
Jeffrey Sachs
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Kevin Costner
The vigor and power and comfort of our spiritual life depends on our mortification of deeds of the flesh.
John Owen
People are so docile right now. It is almost as if good government means when the politicians lie to us for our own good, for the public good, and bad government is when politicians lie for their own selfish interests.
James Bovard