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How Inequality Fueled the Financial Crisis

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"[T]he political response to rising inequality – whether carefully planned or the path of least resistance – was to expand lending to households, especially low-income households. The benefits – growing consumption and more jobs – were immediate, whereas paying the inevitable bill could be postponed into the future. Cynical as it might seem, easy credit has been used throughout history as a palliative by governments that are unable to address the deeper anxieties of the middle class directly."
-- A little history lesson about the uses and abuses of credit expansion by governments to assuage an edgy populace. What's left unsaid, however, is how it ends.
POSITION:  No positions in stocks mentioned.