|
The reason membership site rebilling fell off a cliff in 2008 was all the banks being induced by leverage regulation to turn off tons of credit cards of perfectly good payers, just so the banks could get their bailouts and continued mortgage guarantees.
The increase in debt now is what economic recovery looks like for Main Street and the middle class in America.
Different financial analysts have very different views of ideal markers because different groups either do or do not wish to expand the prosperity of the middle class.
A college-educated employed homeowner, driving past a homeless encampment, in a late model car, will have a debt-heavy much lower net worth than the folks living in tents, under an overpass, but which of those options should be our goal in America?
|