Buy, Borrow, Steal
Hidden Brain
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The Great Recession - What Are the Warning Signals?
When things turn sour, people in debt cut back dramatically on their spending. Eventually, this also affects people who are not part of the borrowing boom. They get affected because demand is collapsing for products and services. And a vicious cycle accelerates. A lot of people attribute the great recession to a banking crisis. But when you look closely at the data, you find that they were warning signals well before the troubles that arose in the banking sector. These were already seriously dragging down the overall economy....
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