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Their words
RCTs somehow have the odd disadvantage of requiring too many things to be held constant, and so they can miss the benefits of longer-term adjustments.
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korrents.com
America borrowed cheaply from the world and spent it on consumption rather than investment, exactly as Greece did.Their words
In sum, spurred on by the federal government (in many ways), the US borrowed a huge amount from foreigners at very low rates, and went on a consumption binge. Sooner or later we have to pay it back, or we go though the wrenching adjustment of a debt crisis.
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