this paper has a hot topic rising debt loads
it has a simple but startling conclusion
"if average rates of growth, inflation and interest had remained the same after 1980 as before
1980, household debt burdens in 2011 would have been roughly the same as they were in the
early 1950s,"
yes if we were running the combo of low rates and sturdy inflation paced by rising wages
then the present debt load would be no big whoop
lesson brisk inflation of wages and product prices combined with low interest rates contains the burden of debt
by in essence reducing its real weight ..outcome despite all the homestead price bubbling of the '00's
few today would be underwater and talk about a win win our homesteads resale value wouldn't have plunged
oddly the paper recommends a debt jubilee instead of resuming the giddy pace of wages and prices
prior to the Volcker dammerung under jimmy carter
if there was a time to emulate it was of course 1940 to 51
clamp a people's hammer lock on the FED and declare war on wall street and the browning of the planet
and its readily do able !!!!
