Tag Archives: household wealth

Substituting Debt for Income Is Not Success–It’s Failure on an Epic Scale

The Fed’s substitution of debt for income has only doomed the nation to a deeper, more painful realignment of real income and expenses. The economic “recovery” has been based on a simple premise: debt can be substituted for income with … Continue reading

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Can the Top 10% Prop Up the Whole Economy?

Is the top 10% up to the task of borrowing and blowing enough money to prop up a debt and bubble-dependent economy? Since the entire economy depends on consumption for its “growth,” and discretionary consumption is financed with either cash … Continue reading

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