National Bankruptcy
Jul 26th, 2006 | By Byron King | Category: Macro Economics
The word "bankruptcy" is often misused. It is not uncommon to hear someone say, "So-and-So is bankrupt" when what they really mean is that "So-and-So cannot pay his bills." In this latter situation, if So-and-So cannot pay his bills, then he or she is technically "insolvent." Insolvency means that you ...read more
