There was some good news to come out this morning from the Federal Reserve.
Households are paying down their debt for the first time in 56 years.
I say it’s good because maybe the masses are beginning to realize that overextending themselves to keep up with the Joneses isn’t a good thing.
Of course the downside is that they aren’t out their spending as much on products and services, the fuel for our nation’s economy.
Maybe the economic downturn has created a much needed “correction” in society. Just like a correction in the stock market.