Recoveries from debt-driven busts always take years, as households and banks repair their balance-sheets.
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Instead, Republicans won the policy debate by securing the first of many spending restraints we need to avoid a debt-driven economic calamity.
In the years before, we were living in debt-driven times, so there's no real benchmark on how or why something was successful.
In the wake of debt-driven financial crises, households and businesses typically spend years whittling down debts, and are much less sensitive to the lure of lower interest rates.
With the stated intention of getting the debt-driven consumer economy rolling again, the Federal Reserve has made taking on debt almost laughably cheap and the returns on savings and investments pathetic.
In 2003, as then-Federal Reserve Chairman Alan Greenspan cut interest rates to an unprecedented 1%, Mr. Connolly described the U.S. economy as a debt-driven Ponzi scheme and predicted that interest rates would have to fall even further in the next cycle to keep the scheme going.
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It's also going to require that we look at new models for where future growth is going to come from, because one of the I think key understandings coming out of this past financial crisis is that a lot of our growth was debt-driven -- credit cards being maxed out, home equity loans being taken out to finance a lot of purchases.
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We note that near-term U.S. debt downgrade-driven worries could dampen demand, but the third quarter is typically the least important for the technology sector.
The Socialist candidate explained how he would seek to expand Europe's response to the euro sovereign-debt crisis to incorporate more growth-driven policies.
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And, finally, the third reason that we had to take this on is because the deficit and the debt that you hear everybody getting in a tizzy about -- properly so -- the vast majority of our long-term debt is driven by Medicare and Medicaid.
An investment-driven, debt-fuelled binge had seemingly come to an end.
Still, Monti's decision to stand down as premier once parliament approves the 2013 budget provides the first big test for Italy's bond market since the ECB-driven rally in Italian debt began in late July.
Investors world-wide are buying riskier, higher-yielding debt, as central banks' efforts to bolster economic growth have driven yields on the least-risky government bonds lower.
The scary fiscal projections beloved by worrywarts tend to show rising ratios of debt to GDP, driven by growing health-care costs and rising interest rates.
There is a sense on the part of consumers that they have to start saving more and cutting back on their debt levels, and that means that the prospect of a consumer-driven V-shaped recovery is less likely.
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Driven by a growing mound of student debt, the 18-year-old sports media major said his shot in the dark was low risk.
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As Messrs Burrough and Helyar recount, firms such as RJR Nabisco suffered long-term damage to their brand and market share due to aggressive cost-cutting that was driven by the need to pay off debt and interest.
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First, major debt reductions are mainly driven by decisive and lasting (rather than timid and short-lived) fiscal consolidation efforts focused on reducing government expenditure, in particular, cuts in social benefits and public wages.
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As public debt climbed toward 90%, the forces of economic sclerosis would have overtaken the technology-driven productivity boom.
The downgrades were "driven by the increased risk of further shocks emanating from the euro-area debt crisis, in combination with the banks' limited loss-absorption capacity, " Moody's said.
The combination of a contracting economy and rising debt levels has driven the market yield on Greek two years notes to near 25% and on its 10-year debt to around 15%.
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