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Watch news about the stimulus/bailout plans going around, and see how many sentences are constructed with the assumption that for the economy to recover, consumer spending would have to go back up, dramatically if possible. I suspect you'll see plenty.
Now note that consumer spending drove 70% of our economy for the last few years, most of it fueled by debt, credit card or otherwise, that is now on its way to defaulting. How much more of that debt would it be healthy for consumers to take on, in order to bring the health of the economy back up? Are there other ways to fuel an economy than debt-backed consumer spending?
Now note that consumer spending drove 70% of our economy for the last few years, most of it fueled by debt, credit card or otherwise, that is now on its way to defaulting. How much more of that debt would it be healthy for consumers to take on, in order to bring the health of the economy back up? Are there other ways to fuel an economy than debt-backed consumer spending?
