Fed, Treasury Ready to Boost Credit Card Debt-Fueled Consumer Spending

Almost two weeks ago, I posted a news package from NPR in which I was heard talking about fixing the economy. One of the major points of the interview — although it didn’t make a significant appearance in the news package — was that as long as we have an economy that is based on continued consumerism fueled by debt (mostly credit card debt), we will have a relatively unstable economy in which explosive growth is expected, but unsustainable, over the long run.
Indeed, everything our leaders have been doing, in the name of fixing the economy, has been aimed at …read more