The State of Debt

This from a New York Times article: For years, the American financial sector borrowed and borrowed. Its obligations rose even more rapidly than consumers’. Both sectors were far more aggressive borrowers than the federal government. Now that has reversed.

The Federal Reserve reported this month that the outstanding debts of both the financial sector and households fell in 2010, as they had in 2009.

Now if our government would get its act together of what its role is in a free-market (not free-for-all) economy, the trending would work out just fine.

Check out the article here.

 

Let’s lead the world by example with new rigors of excellence we first and successfully apply to ourselves.

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