학술논문
Life Without Credit.
Document Type
Article
Source
Subject
*FINANCIAL leverage
*FINANCIAL crises
*FINANCIAL market reaction
*CONSUMPTION (Economics)
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Language
ISSN
0040-781X
Abstract
The article focuses on how leverage--the relationship between debt and wealth--has influenced the U.S. economy and how the 2008 financial crisis has affected that relationship. The author describes the de-leveraging effect in the U.S. financial sector and notes the effects on business and consumer spending. Also discussed are moves by U.S. Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson to avoid an economic collapse.