Skip to content
Link copied to clipboard
Link copied to clipboard

Collapse of 25-year debt surge not just economic cycle

The nation's wrenching downturn is the flip side of a debt-fueled bubble, mostly in housing, that grew the economy to unsustainable levels.

Trader Michael McCabe works on the floor of the New York Stock Exchange Thursday. Stocks have plunged again to levels not seen in more than five years as hopes fade that lawmakers will soon put together an aid package for U.S. automakers. (AP Photo/Richard Drew)
Trader Michael McCabe works on the floor of the New York Stock Exchange Thursday. Stocks have plunged again to levels not seen in more than five years as hopes fade that lawmakers will soon put together an aid package for U.S. automakers. (AP Photo/Richard Drew)Read more
    by Harold Brubaker, Inquirer Staff Writer
    Published