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
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Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
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Unintended consequences of earlier public policy choices »Unintended consequences of earlier public policy choices
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US spending funded by credit »US spending funded by credit
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People encouraged to live beyond their means
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Banks lent trillions to people ill-equipped to repay »Banks lent trillions to people ill-equipped to repay
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Cost of borrowing low »Cost of borrowing low
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