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Written by Réjean J. Boudreau, trustee

July 09 showed the largest amount of savings on record since 1943! In July, each and every American lowered their expenses to apply 70$ on debts. Since 70% of the economy is based on consumers, every dollar transfered to debt is slowing down the economy, whatever  the financial health of the banking system.

The entire growth of the economy since the 70's is massively caused by the proportional growth of debt i.e. credit. Today, consumers are rethinking their strategy. More assets and more debts do not systematically equal more wealth.

For more information, click here. (Yahoo link)