1. “I thought teaching wasn’t a proper career option. My teacher said I’d need to have a high boredom threshold if I wanted to become a teacher,” he recalls.
2. Rios is no stranger to hard work. She moved to the U.S. from El Salvador when she was a child. She graduated at the top of her high school class and raised a family while putting herself through college. She was not intimidated when she started Nation Waste Inc. At just 22, months after graduating from the University of Houston, she took out loans and purchased two trucks, jumping into the male-dominated waste-removal industry. Today, her Houston-based company has 24 full-time employees. "It is pretty amazing when I look back and see, I started as a little girl entering the United States with my parents and now I am truly living the American dream," says Rios.
5. The first chart shows the total incidence of banking, currency and debt default crises in emerging markets since the 1970s, set against the nominal federal funds rate. Mr Koepke gives this as evidence that high and rising rates typically precede periods of EM crisis.