PeakTrader.com

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Even most pessimists underestimate the iceberg this country has been steered into, while optimists see a beacon of light.

We have a mountain of household debt, and the government's solution to deal with that debt is creating an even bigger mountain of government debt, through massive spending, while households mostly fend for themselves.

If we had a $5,000 per worker tax cut a year ago (or $750 billion for 150 million workers), high interest rate debt would be paid down, or paid off, increasing monthly income. Banks would be stronger, and demand would clear the market of excess assets and goods quickly, to increase production.

Fiscal policy should be helping monetary policy smooth-out business cycles by cutting taxes in a contraction and raising taxes in an expansion.

Household debt to GDP

http://www.npr.org/blogs/money/2009/02/household_debt_vs_gdp.html

http://www.prudentbear.com/index.php/household-sector-debt-of-gdp

Debt Ratios

http://www.businessinsider.com/heres-why-the-economy-is-going-to-suck-wind-next-year-2009-12

Credit card info

http://www.hoffmanbrinker.com/credit-card-debt-statistics.html

http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php

http://heidilore.wordpress.com/links/#comment-4823