ECONOMIC RECOVERY

Our economy and, indeed, the world economy is in bad shape. We all know that now. Its been evident for about a year. As with most things like this, it was in a bad way long before we common folk realized it. Economists called it an expanding bubble that just had to burst. Individuals and banks acquired too much debt. Debt that they couldn't handle.

Debt is not necessarily a bad thing. In our economy, it is absolutely necessary. Almost nothing would get done without it.

People and companies go into debt on faith and hope . . . the human spirit. Lenders lend money on faith and hope built on experience. Each makes that leap of faith with the knowledge that failure has severe consequences. There must be severe consequences . . . and the government cannot again warp the process with regulations and unsound directives. No one is more responsible for the mess we are in than the government.
.