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The Great Reset

 Dec. 16, 2008, a specialist watches television reports about the interest rate decision of the Federal Reserve as he works on the floor of the New York Stock Exchange. To boost the economy, the Fed lowered the short-term lending rate to nearly zero on Dec. 17, 2008.

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


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.