Nina Bandelj, Frederick F. Wherry, Viviana A. Zelizer

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The major difference being that folks would actually save money back then, moderately than cripple themselves with private debt. One of the causes of the monetary crisis was the excessive levels of personal debt successfully that means that there was nobody left to borrow money to pay for his or her low cost Chinese imports. A GDP is an annual statistic, cash saved from revenues in the years prior is not counted (as you well know). Everyday Americans immediately would want to borrow money to lend cash. Another example of the monetary system committing suicide, they lent money to so many people that there was nobody left to borrow from…. aside from China… you borrowed cash from China, to lend …