CAROL PATON: A house of cards with bills for walls
A collapse is inevitable if government keeps living beyond its means
11 November 2019 - 16:24
What happens when everybody owes everybody and no-one can pay? Usually a crash.
That is what happened in 2008 in the global financial crisis, when subprime mortages were packaged, insured, sold and resold. The whole system came down when the defaults began and people at the bottom could not pay their mortgages...
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