This denial of reality should be interesting to watch. When a credit bubble deflates and an economy breaks its addiction to reckless debt, the sensible thing to do (since you’re repairing your balance sheet) is dial things back a bit. Save. Cut back on the gadgets. Eat more staples. Wear a sack cloth.
But if you still believe that you can get something for nothing-well then yes-you’d continue to borrow and spend like a madman.
July 6th, 2009 | Dan Denning | 9 comments | Continued
