Atif Mian and Amir Sufi — Subprime Lending Drives Spending

A concern that we highlighted in yesterday’s post is that the only way the U.S. economy can generate significant consumer spending is through aggressive lending to borrowers with low credit scores. Here is more evidence supporting that view.

 I'm not sure whether to say "again already?" or "still."

House of Debt
Subprime Lending Drives Spending
Atif Mian and Amir Sufi