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| front cover of June 27th 2011 WSJ "Debt Hamstrings Recovery". The article talks about how personal and national debt levels are limiting the ability of consumers to spend, and how being upside down on home mortgage means most people won't do the borrowing they did earlier, even if they wanted to (which many don't anymore). Dominic Wilson chief global markets economist for Goldman Sachs Group Inc. is quoted as saying that pumping money into the financial system "doesn't stop the need for the private sector to heal itself". Also said that History shows,"that when people have borrowed too much, they stop borrowing and interest rates stay low for a very long time," he says," So you can forget about investing in bonds".
Actually quite a bit of info in the article.
fwiw
Art
Edited by Art Swannack 6/28/2011 22:59
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Economists see brighter second half for 2011
