Ballad of a Thin Man Something's happening here but you don't know what it is, do you Mr Jones? That is the Dylan version of the question Queen Elizabeth posed: why didn't anybody see this coming? There were those who saw the storm clouds on the horizon. Michael Lewis wrote a book about some of them.
Continuing the tradition of colorful nomenclature in international economics, this hypothesis has been labeled “original sin,” because the need to borrow in foreign currencies and in short-maturity instruments supposedly constrains all but the largest and wealthiest countries regardless of economic policies and performance.