One other point the author overlooks is that this is the first recession where US savings have been nearly non-existant for some time. Past recessions of note (ie. the more severe ones) began with a much higher rate of personal savings than is now the case. We have less capital cushion to fall back on when riding out the storm.
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One other point the author overlooks is that this is the first recession where US savings have been nearly non-existant for some time. Past recessions of note (ie. the more severe ones) began with a much higher rate of personal savings than is now the case. We have less capital cushion to fall back on when riding out the storm.
Oct 17 10:12 am
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