2001–2006 expansion was maintained by credit. The role of credit in a Vector Error Correction Model and Granger …-causality between aggregate spending, credit, disposable income, and profits are examined. We show that credit itself is determined by … the consequent structural changes after 1980 enabled the growth of new debt instruments and credit. The overexpansion of …

, the elite were able to flood financial markets with credit, helping keep interest rates low and encouraging the creation … of new credit instruments. The third phenomenon is that, as the rich took larger shares of income and wealth, they gained … failing to regulate newly evolving credit instruments flowed out of this ideology. …

, and thereby encouraging an every wealthier elite to flood financial markets with credit, helping keep interest rates low …, encouraging the creation of new credit instruments, and fueling speculation. The second dynamic is that greater inequality meant … the poor, deregulating the economy, and failing to regulate newly evolving credit instruments flowed out of this ideology. …