what do you define as "living within our means"?
why is housing a "mal-investment"?
seriously, do you honestly believe that leverage is inherently bad and should not be done?
and yes, when "saving" becomes "hoarding" it is negative for economic growth. if the saving is not reinvested, either by not placing into lenders coffers, or by the lenders themselves not investing, there will be contraction.
"wackonomics" can be true in either direction of the pendulum swing.
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