In a world where Rwanda debuts in long-term market borrowing and pays 6.8% for a 10-year bond, as happened a few days ago, Portugal borrowing at 5.7% seems a smaller victory than one might originally have thought.
Even though the Australian press was able to sketch his background 18 months ago (borrowing on some Wall Street Journal reporting), Liu acquired a major stake in two overseas Aussie ventures, Sundance Resources and Moly Mines, and this week turned out not well for all of them.
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Despite an economy that is weaker than almost anyone outside the left predicted two years ago, public-sector borrowing has fallen about as quickly as was forecast.
When he left college he worked briefly for a telecoms company, but, after borrowing money from his father five years ago to purchase a good camera, he began taking wedding photographs.
George Osborne would probably also want to point out that when Keynes was telling the Treasury to borrow more, 80 years ago, it was barely borrowing anything at all - not more than 10% of Britain's national income - in the first year of the financial crisis alone.
Second, some of the tips (making beeswax furniture polish) would have seemed arcane even 50 years ago and give a whiff of borrowing from other, older authorities.
The Monetary Policy Committee has not made such a dramatic reduction in rates since it was set up 11 years ago--the last time borrowing costs fell so fast in one day was in 1993.
Monti blamed "short-termism" for Italy's financial problems, which pushed the country's cost of borrowing above the crucial 7% level a year ago and put it in the center of the crisis.
Third, the central government is borrowing far more than it contemplated just a few months ago.
Republicans said they were just borrowing tactics that Jesse Jackson and the Democrats perfected years ago and had imported to Florida immediately after the vote, but Jesse's operation was never like this.
In Asia, as in Mexico three years ago, the situation was much worse in that a lot of the borrowing and lending were done in different currencies.
It's all about the returns: A few years ago, most hedge fund investors were realizing returns of 15% or better without extensive borrowing.
As in Mexico four years ago, Brazil's real estate market has been a prime beneficiary of the drop in borrowing rates and other good economic news.
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