In the UK in 2006 £19 BILLION was MEW'd (mortgage equity withdrawel) into the consumer spending economy.
Then house prices started falling so that tap was abruptly turned off.
This caused a recession.
This has happened before. This was predicted to happen again if you read the correct websites and journals. Pretending it is all fantastically complicated and too difficult to understand is just a tactic of the finance industry and the government.
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