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The Great Reset

April 8, 2013, a man looks at an electronic stock board in Tokyo. The Japanese have cut back 4 percent of their collective borrowing since before the financial crisis in 2007.

The Great Reset: Five years after the economic collapse


Five years after U.S. investment bank Lehman Brothers collapsed,

triggering a global financial crisis and shattering confidence

worldwide, families in major countries around the world are still

hunkered down, too spooked and distrustful to take chances with their

money.

The implications are huge: Shunning debt and spending less can be good for one family's finances. When hundreds of millions do it together, it can starve the global economy.

Some of the retrenchment is not surprising: High unemployment in many countries means fewer people with paychecks to spend. But even people with good jobs and little fear of losing them remain cautious.


Reporting by the Associated Press.