Lately I am spending time reading, less time posting. My reading is on the topic of financial crises. It is not a cheery subject but it is also less frightening than I would have guessed. There have been a number of crises in my lifetime around the world. The good news is that they are survivable, though not necessarily without harm. Examples are the oil shock in the US in the early 1970's accompanied by high inflation lasting into the early 1980's, the Asian currency crisis in 1997-98, and Argentina's domestic and external debt default in 2002. The recovery from these episodes lasted many years. In Argentina's case, they may still not be able to borrow at preferred rates and may have difficulty finding a lender. What possible other harm is there?