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Michael Hudson On Why The US Risks Becoming The Next Greece
Odd Lots
Can the Borrower Pay?
Banks have made loans without taking into account the ability to pay. The FHA now lets mortgages be extended up to the point where they absorb 43% of the borrower's income and that'll be guaranteed. As more money is paid to the financial sector, as debt's grow, same thing for corporations. There's been less and less time available to spend on goods and services.
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