It's a lot easier to do when important sectors of your economy aren't addicted to consumer credit. People don't buy tankers full of oil on credit cards, but they do buy Fords.
Blaming debtors for indebtedness is like blaming heroin addicts for drug-running. It's a two-sided market, and savings gluts can and will drive down the price of credit until the market clears.
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It's a lot easier to do when important sectors of your economy aren't addicted to consumer credit. People don't buy tankers full of oil on credit cards, but they do buy Fords.
Blaming debtors for indebtedness is like blaming heroin addicts for drug-running. It's a two-sided market, and savings gluts can and will drive down the price of credit until the market clears.