noun, plural democracies. 1. government by the people; a form of government in which the supreme power is vested in the people and exercised directly by them or by their elected agents under a free electoral system.
Debt deflation is a theory of economic cycles that holds that recessions and depressions are due to the overall level of debt shrinking : the credit cycle is the cause of the economic cycle.The theory was developed by Irving Fisher following the Wall Street Crash of 1929 and the ensuing Great Depression.The debt deflation theory was familiar to John Maynard Keynes prior to Fisher's discussion of it, but he found it lacking in comparison to what would become his theory of liquidity ...
The mezzanine debt is in the middle between the senior debt, which isnormally secured, and the equity at the bottom. Mezzanine securities are structured as subordinated debtwhich carry a fixed coupon-between 12-14% - and an equity kicker-in the form of warrants. Themezzanine debt is generally unsecured ranks junior to bank loans and usually high yield bonds and seniorto the equity.The mezzanine market really took off in the early 80s.