His model is based on factors such as changes in bank lending, the economic growth rate and the size of the speculative-grade market (a glut of issuance tends to be an indicator of loose lending practices).

ECONOMIST: Buttonwood

Argentina has the highest "survival rate", with 94 percent of pupils reaching grade 5.

UNESCO: HIGH DROP OUT AND REPETITION RATES SHOW QUALITY TO BE A CONCERN IN LATIN AMERICAN EDUCATION SYSTEMS

In terms of influence, Adam Smith might rate the top grade, with perhaps Keynes one lower at number eight.

ECONOMIST: Sir Alec Cairncross

Noh says one study has shown that as young as the fifth grade, Asian-American girls have the highest rate of depression so severe they've contemplated suicide.

CNN: Push to achieve tied to suicide in Asian-American women

For individuals the good news is that there are mutual funds that make it easy to invest in diversified portfolios of floating-rate loans, mostly made by banks to corporations with less than investment-grade bond ratings.

FORBES: Fixed Income for Bears