NY Times: How the Bursting of the Consumer Bubble Continues to Hold the Economy Back

Source: David Leonhardt / The New York Times There is no shortage of explanations for the economy's maddening inability to leave behind the Great Recession and start adding large numbers of jobs: The deficit is too big. The stimulus was flawed. China is overtaking us. Businesses are overregulated. Wall Street is underregulated. But the real culprit — or at least the main one — has been hiding in plain sight. We are living through a tremendous bust. It isn't simply [...]