So what does an economy look like when a good deal of the individual participants in that economy have had their purchasing power reduced?
Falling tax revenues.
Rising bankruptcies and defaults.
Deflation. That's what I'm talking about.
We cannot be talking about "getting the credit markets moving" as long as we have stagnant or falling wages. Bottom line.
So why even try? Why throw your money away? That's like putting your diamonds on the Titanic ten minutes after it hit the iceberg.
Stop paying on your loans!