Diagnosing the disease and then prescribing more infection

NPR: Household Debt Vs. GDP.

I heard this broadcast from Planet Money.  It was quite interesting.  The commenters are right that it can’t simply be said that “the problem is us” meaning we all just happened to go into more debt.  Something happened to extend credit to those who should not have been extended credit.

But the thing that drove me insane was the conversation that followed on the Diane Rheims (sp?) show, about how the crisis can only be solved if the banks “start loaning again.”

Sometimes I just can’t laugh any more about how plainly we are destroying ourselves.

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