11.   Lower interest rates make it easier for people to borrow money to buy homes, cars, and other items, and it allows businesses to build and expand.

12.   Ordinary people borrowed from family, friends, pawnshops or the neighborhood moneylender.

13.   People can borrow half of their purchases, paying their brokers interest on those sums.

14.   Putting the brakes on growth would spell disaster in a western country where people borrow to buy big-ticket items cars and where motorcycles are largely forms of recreation.

15.   Rising debt loads are part of any expansion, but this one is getting to the point that people are borrowing more just to make payments on existing debt.

16.   Standard economic theory says that if capital markets work perfectly, people will borrow or lend until their discount rate equals the market rate for borrowing or lending.

17.   So people borrow, helped by the strong stock market, and credit flows in from abroad.

18.   The Federal Reserve has raised rates seven times in the past year in a deliberate bid to make it tougher for people to borrow and spend.

19.   The NTSB people borrowed phones, shared space.

20.   The problem is not that Americans borrow money, he says, but that people borrow more than they can repay.