Consumer debt is only relevant if banks insist on cramming high interest rates down the consumers throat no matter what. I am becoming very concerned that many of the alleged independent bloggers that portray themselves as outside of government influence are the biggest whores and hacks of all.
These alleged economic intellects NEVER mention that most debt issues can be resolved if the interest rate associated with the debt is severely reduced.
There is NO PROGRAM AVAILABLE for consumers who WANT to reduce their debt and the ONLY THING PREVENTING them is the high interests rates they are already paying on their existing debt.
Until such a program exists, I don't trust ANYONE who does not advocate such a stance in their own blogs.
Which is better, fear mongering that devalues the standard of living for the entire planet while perceived wealth drops by more than half for the worlds middle and lower class, or simply reducing interest rates on EXISTING consumer debt for anyone committed to paying down their debt so that the value OF WHAT ALREADY EXISTS, maintains, rather than drops in half again?
The answer is obvious, yet NEVER will you hear the usual alleged outside of the box thinkers simply point out that consumer debt is manageable in a way that can soften tough economic times, all it takes is the consumer to be offered a program in which they agree to pay down their EXISTING DEBT in exchange for a lower interest rate on consumer debt they already have.