"There are really only two ways to increase household consumption sustainably. One is to force a redistribution of income from the richest Americans to the rest. The other is to impose trade tariffs or, what amounts to the same thing, to tax foreign purchases of US assets, especially US government bonds, in order to drive down the current account deficit and so allow the US to retain a larger share of what has become the most valuable commodity in the world: demand."
Well you can forget the first way.
And how on earth would the standard of living be maintained with the second. One SUV instead of two!!!
Borrowing for consumption is the right of every American.
