Rebalancing the economy

Videographic:



The 1980 shift to consumerism is stark, and lefties with a sense of irony should point to the faster growth from Reagan's 1980 reforms that made the country richer as having the "unintended consequence" of imbalancing consumption and savings, as people forgot that the real key to lasting wealth is savings.

So basically, we've had it too easy with all the easy credit. The economy is adjusting—people are saving more, and there is agreement that this will be good in the long term—but this means a painful transition of low demand for the short-term.