... right now, Americans aren't only failing to save,
they are going into debt...
At some point, those debts are going to come due. That in itself is going to be a real buzzkill to the economy, either because of massive social spending to care for these people or massive bankruptcy filings or something similar.
Damn baby boomers are once again going "me me me" and screwing it up for the rest of us.
The fundamental problem in the American economy is that, for years, people treated rising asset prices as a substitute for personal savings.
Sometime, it's tough being right....
