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Recessions aren't due to how people feel. It's the freezing and culling of debt.
by n0t-satoshi 7y ago
Recessions aren't due to how people feel. It's the freezing and culling of debt.
- zxcmx 7y agoYou stated that rather authoritatively but I'm not convinced there's any real consensus on the matter. After all, why do people freeze / cull debt?
- raducu 7y agoBecause in non-negative interest world there's a limit on how much debt you can take?
- zxcmx 7y agoI agree! But a person or business choosing whether to take on more debt is going to rely on just the cold calculus of income and outgoings? I believe that how take into account how secure they feel in their job, whether everyone else seems to be panicking about the economy, housing fomo, etc.