Question

What was the major financial change between post ww2 borrowers and borrowers after 1970.

Answer 1

The major financial change between post ww2 borrowers and borrowers after 1970 was that there were plenty of jobs after World War 2 and the economy was growing at a large extent.

Most of the people believed that their income would not change even though there were plenty of jobs in the economy.

However they all have a constant income from the year 1945 to 1970.

So all the people continued  to borrow more and more money by not attending or joining any post war job in the economy.

Banks were also willing to lend more and more money as they were on the way of high earning through more lending but they get closed.

So after the war people continued to increase their loans and debt ratio in the economy of lending due to which it became the period of great depression.

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