Freedomain Radio

In the end, isn't that the real reason for this economic slowdown and potential recession?

Economic growth in recent times, especially in the USA, has been based on debt. The Fed is simply giving out too much easy money to the banks, who in turn pass it on to the consumer. If Obama or McCain were economically literate, they'd call for a greater focus on saving, rather than consumption, as the basis of economic growth.

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If Obama or McCain were economically literate, they'd call for a greater focus on saving, rather than consumption, as the basis of economic growth.

Since they are heading an institue that is not saving anything and going into debt massively, 'calling' for a greater focus on savng is not going to cut it, don't you think? If saving is such a great idea, why aren't you doing it yourself? Joe Six pack will wonder.