"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
U.S. Banks Told They Need to Start Lending Again
Ah, but the real issue is whether or not Americans need to start borrowing again. I don’t think that they do, not for the purpose of fueling consumer spending. Returning to the era of negative savings rates and heavy consumer debt simply isn’t good for the individual or for the economy as a whole in the long-term view.
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