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THE PSYCHOLOGY OF MONEY - Commented Book

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CHAPTER

Household Debt to Incomes - The Beginning of Debt Crisis

The share of income going toward debt and lease payments is just over 8% for the highest income groups. The Fed backstopped corporate debt in 2008. Tax cuts have predominantly gone to those with higher incomes. Success isn't as meritocratic as it used to be, David Frum says.

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