People encouraged to live beyond their means
People encouraged to live beyond their means.
Immediately related elementsHow this works
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The Global Financial Crisis »The Global Financial Crisis
Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
Unintended consequences of earlier public policy choices »Unintended consequences of earlier public policy choices
US spending funded by credit »US spending funded by credit
People encouraged to live beyond their means
Banks lent trillions to people ill-equipped to repay »Banks lent trillions to people ill-equipped to repay
Cost of borrowing low »Cost of borrowing low
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