Substituting Debt for Income Is Not Success--It's Failure on an Epic Scale

http://charleshughsmith.blogspot.com/2014/07/substituting-debt-for-income-is-not.html

The economic "recovery" has been based on a simple premise: debt can be substituted for income with no ill effects. As real household incomes have declined, the legitimate foundation of additional spending--more income--has eroded for the bottom 90%.