Debt is the lifeblood of the economy. Been true for several hundred years.
Will be for another several hundred years (clue: Stocks are a form of debt....oooooooooooh).
Creation is the life blood of the economy. And investment and profit are the pumps that drive it.
Someone else who reads MISH.
Follow the link at his site and read the comments. Lots of back and forth, some libs, but most of the time not too bad. The economic info and speculating has helped me understand alot of what is going on in our economy.
Consumption is the lifeblood of the economy.
The flip side is supply.
Once you consume more than you have the ability to pay at the time you consume, THEN you have debt.
Debt is not the lifeblood of economy, debt is the leech of economy.
I little won't hurt you but get too many (too much) and it can kill you.
Debt is dependent upon good faith and trust....little of which characterizes the business world in a post-christian America...