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"Lending is not going to be fixed by recapitalizing banks. The underlying problem is not just that aggregate private loans are too large relative to bank capital; it is that they are too large relative to aggregate private income. Thus, the problem is with the borrowers, not just the lenders, and households need to lower their debt relative to income while corporations need to lower their debt relative to revenue. . . "
Each day,.... 26,000!! Despite that atrocious number, the study goes on to say that significant progress has been made from the previous year's study, and that there is great promise for the world's children.
A celebrity died yesterday, so did approximately 26,000 children. Heath Ledger deserves our condolences,... the children of the world deserve much, much better.
Thanks to aka Eddie for the discussion.