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Central Alberta | 30 years later and people still don't understand what happened in the 80's. Interest rates rose in order to head off hyper inflation. Hyper inflation was a threat because rates were suppressed in the late 70's and led to people taking on too much debt. You also had the baby boomer emerging as economic agents at the time, What should of happened was that rates rose earlier and less debt was taken on and then no 80's farm crisis. Growing surpluses of ag commodities due to over investment and subsidization particularly in Europe were also factors in the farm crisis. All things earily similar to today. | |
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Financial sector expansion.
