Buy, Borrow, Steal
Hidden Brain
00:00
The Banking Crisis, the Financial Crisis, Is a Symptom, Not a Cause
Economic disasters are almost always preceded by a large increase in household debt. Armerg says, you can see the same pattern historically. The correlation is so robust that it is as close to an empirical law as it gets in macro economics. There's enough data out there that people are almost forced to take very seriously the idea that credit debt seems to be related to business cycles and macro economic fluctuations. We think the data speak for themselves....
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