[lentulusgracchus]

[Your quoted article]
We are a credit-based system, as are all modern monetary systems. No meaningful economic recovery can or will occur until the consumer has purged his balance sheet of the inappropriate debt he has and is once again able to earn and borrow.

Recent articles in Minyanville.com and FinancialSense.com raise these same consumer-credit/consumer-income issues and challenge the idea that the recovery "this time" will actually be a recovery at all in any meaningful sense, rather than an "L-shaped recovery" i.e. stabilization at a permanently lower per-capita GDP, recovery suppressed by job/income/purchasing-power loss.

[Notary Sojac]

stabilization at a permanently lower per-capita GDP

Since most of the GDP "growth" of the last fifteen years consisted of pumped-up consumer goods spending financed by overseas borrowing, no one should be surprised to see this happen.