Headline: Households cut debt again in first quarter

Check this out: http://articles.marketwatch.com/2012-06-07/economy/32091085_1_household-debt-consumer-debt-consumer-credit

So here’s the story: if you’re paying off something you already bought, then you’re not “buying” new stuff, thus the economy continues to show weak growth.  Which also means that past economic growth was premised on a debt model.

 

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