FYI: Every major financial crisis leaves a unique footprint. Just as banking crises throughout the 19th and 20th centuries revealed the importance of financial-sector liquidity and lenders of last resort, the Great Depression underscored the necessity of countercyclical fiscal and monetary policies. And, more recently, the 2008 financial crisis and subsequent Great Recession revealed the key drivers of credit-driven business cycles.
Regards,
Ted
http://www.cetusnews.com/business/Debt--Boom--Bust--How-Borrowing-Drives-the-Business-Cycle.Bkxsp91btz.html
