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A Nation of Debtors

interesting perspective, it is unusual to get such a philosopically thought provoking article. debt is out of control. it would be nice if this credit crisis acted as a catalyst that dragged people from a debtor mindset to a savings mindset, but habits are hard to change. interest rates have to go up - a lot to make people save. if the dillema is to save 20,000 at 2% interest or spend in advance of inflation at 4%, the losing solution is to save. policy must reflect an advantage to change habits, but perhaps the weaning of credit below 8% is incentive enough to halt borrowing as a first step to encouraging savings?