American families are stuck in a lost quarter century


By Matt Phillips – Auto sales are booming—but that’s largely because it’s so easy for consumers to get loans.

In a consumption-dominated economy like the US, consumers need to spend.

And if consumers don’t have the wages to spend, the only way to keep the consumption engine going is by extending debt to people with extremely shaky finances.

That’s a recipe for a future full of financial crises. more> http://tinyurl.com/mf2obd3

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