@hackernews@die-partei.social

>> The main results of the program were that borrowers used the pause to take on more debt. From a new paper by Dinerstein, Yannelis and Chen:
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This is good news for debt pauses as stimulus payments but it’s bad news if you think that debt pauses are just the nudge some people need to get their financial house in order. Although the COVID scenario makes generalization somewhat difficult, the story is consistent with borrowers who have difficulty restraining spending regardless of wealth, the so-called wealthy hand to mouth consumers (see here for a now classic example). For this group, a debt pause is just a debt pause
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<< So no sources or data was cited outside of a 3rd party newspaper- of which no credibility was cited to encourage trust.