House of debt

Description:

Though the banking crisis captured the public's attention, Mian and Sufi argue strongly that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit is disastrously counterproductive when the fundamental problem is too much debt. Excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt.

subjects: Financial crises,  Global Financial Crisis (2008-2009) fast (OCoLC)fst01755654,  Foreclosure,  Finanzkrise,  Finanskrisen 2008-2009,  Debtor and creditor,  Consumer credit,  Finanskriser,  Konsumentkredit,  Global Financial Crisis, 2008-2009,  Prevention,  Debt,  History,  United states, economic conditions

Places: United States,  Förenta staterna