anwar shaikh, the first great depression of the 21st century (2011)

(54): useful account of how debt-to-income ratios grew steadily post 80s, but debt-to-service ratios only started to climb later, cresting aroundt he time of the crisis. in other words, declining interest rates did maintain the path of their standard of living despite a slowdown, at least until it came crashing down

(57): distinction between two modes of State intervention: (1) giving money to business, hoping they invest and benefits 'trickle-down'; (2) investing directly in employment-generation plans, where benefits 'rise-up' to businesses and banks