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... decade prior to the onset of the subprime crisis. Credit relative to nominal GDP fell ... up (caused by excessively low interest rates) leads to a boom. And a boom leads ... in the worst August for industry wide auto sales in 27 years." , which was ...

The Breakdown of Capitalism and the Fight for Socialism in the United States
... it cannot happen. The logic of imperialism leads to military conflict, and the drive toward ... privately owned corporations. The crazed speculation in subprime mortgages that precipitated the worldwide financial crash ... alone better than, their parents generation. Young auto workers born in 1990 are paid less ...