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That's exactly right. Recessions are not behavioral patterns. They happen when borrowers can no longer borrow more to pay the interest on their existing debts.
by inuhj 8y ago
That's exactly right. Recessions are not behavioral patterns. They happen when borrowers can no longer borrow more to pay the interest on their existing debts.
- diminoten 8y agoYes, that's the traditional understanding. We're talking about something new, something possibly different.