▁the ▁crisis , ▁the ▁critics ▁of ▁the ▁main stream ▁definition ▁claim ▁that , ▁after ▁that ▁period , ▁there ▁is ▁no ▁more ▁of ▁any ▁kind ▁of ▁a ▁liquid ity ▁trap ▁since ▁government ▁and ▁private - se ctor ▁b onds ▁are ▁" very ▁much ▁in ▁demand ". ▁This ▁goes ▁against ▁Ke yn es ' ▁point ▁as ▁Ke yn es ▁stated ▁that ▁" al most ▁everyone ▁pre fers ▁c ash ▁to ▁holding ▁a ▁deb t ". ▁ ▁See ▁also ▁Spe cul ative ▁b ubble ▁Sub prime ▁mort g age ▁crisis ▁To o ▁big ▁to ▁fail ▁Zero ▁interest ▁rate ▁policy ▁ ▁Notes ▁ ▁References ▁ ▁Further ▁reading ▁▁▁▁ ▁H icks , ▁John ▁R . ▁( 1 9 8 1 ) ▁" IS - LM : ▁An ▁Ex plan ation ", ▁Journal ▁of ▁Post ▁Ke yn esian ▁Econom ics , ▁Volume ▁ 3 , ▁ 1 9 8 0 , ▁ ▁Issue ▁ 2 ▁ ▁Category : Ke yn esian ▁econom ics <0x0A> </s> ▁Herbert ▁Smith ▁( b irth ▁registered ▁third ▁ ¼ ▁ 1 9 1 5 ▁– ▁death ▁uncertain ) ▁was ▁an ▁English ▁professional ▁rugby ▁league ▁footballer ▁who ▁played ▁in ▁the ▁ 1 9 3 0 s ▁and ▁ 1 9 4 0 s . ▁He ▁played ▁at ▁club ▁level ▁for ▁Bat ley ▁Sh am ro cks , ▁Castle ford , ▁Br am ley , ▁Bat ley ▁( World ▁War ▁II ▁guest ), ▁and ▁Brad ford ▁Northern , ▁as ▁a ▁, ▁or ▁, ▁i . e . ▁number ▁ 2 ▁or ▁ 5 , ▁ 3