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DEATH BY DEBT STRANGULATON The Consequences of Becoming a Society Addicted to Debt

DEATH BY DEBT STRANGULATON The Consequences of Becoming a Society Addicted to Debt. PART III: The Third Way followed by William J. Clinton. “Even when the Bush recession ends, most Americans will find themselves worse off.”.

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DEATH BY DEBT STRANGULATON The Consequences of Becoming a Society Addicted to Debt

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  1. DEATH BY DEBT STRANGULATONThe Consequences of Becominga Society Addicted to Debt PART III: The Third Way followed by William J. Clinton

  2. “Even when the Bush recession ends, most Americans will find themselves worse off.”

  3. “We’re Eisenhower Republicans here. We stand for lower deficits, free trade, and the bond market.”

  4. “Clinton was the fixer, the policy wonk who reengineered the Reagan Revolution evolution, effectively solved problems such as welfare and the budget, and offered a coherent governing philosophy equal to the global era.“

  5. Laura D’Andrea Tyson

  6. “squarely on a path of sustainable growth.”

  7. “[E]xperts also say that it has proven difficult to tease out the deal’s direct effects from other factors, including rapid technological change, expanded trade with other countries such as China, and unrelated domestic developments in each of the countries. Debate persist regarding NAFTA’s legacy on employment and wages, with some workers and industries facing painful disruptions as they lose market share due to increased competition, and others gaining from new market opportunities that were created.”

  8. TRIGGERHome Equity Drives a Resurgence in Consumer Spending

  9. TRIGGERPressure on Senior Incomes

  10. TRIGGERFalling Interest Rates Benefited Millions of U.S. Households

  11. Alan Greenspan

  12. “Indeed, the surge in mortgage refinancings likely improved rather than worsened the financial condition of the average homeowner. …”

  13. “Some of the equity extracted through mortgage refinancing was used to pay down more expensive, non-tax-deductible consumer debt or used to make purchases that would otherwise have been financed by more expensive and less tax-favored credit. Indeed, the refinancing phenomenon has very likely been a supportive factor for the general economy.”

  14. TRIGGERAccelerated Financial Deregulation

  15. Catherine England

  16. “Excessive regulation was the initial cause of the S&L industry’s problems” and that “Federal deposit insurance was ultimately responsible for the high costs of the debacle.”

  17. “Government-sponsored efforts to protect the industry only invited abuses and increased the ultimate cost of restructuring.”

  18. TRIGGERInvestors shift from high-tech to bank stocks

  19. TRIGGERThe Subprime Mortgage Market

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