The American economy runs on high octane debt. Debt has been welcomed by many with open arms and things seemed to be going well until people realized they actually had to pay the debt back. Average Americans trying to keep up with the picket white fence image of Leave it to Beaver were largely relying on debt to keep up with this lifestyle that was unsustainable with current incomes.
http://www.mybudget360.com/financial-dismantling-of-the-american-middle-class-in-8-charts-peak-debt-credit-card-cash-banking-finance-wealth/
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