The Roaring Twenties And The Birth Of Consumer Credit - Martha Olney
The Joe Walker Podcast
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The Importance of Sales Finance in the Great Depression
During the Great Depression, default rates on auto loans were much lower than you would have predicted. This experience convinced people that consumer credit was a good financial investment. The increase in demand for durables was a result of the consumer credit and the advertising,. But then what happens in the 1930s is that we see a drop in consumer spending.
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