An article in the May 9th 2009 edition of The Economist describes consumer debt and spending in the US today and the potential road to recovery.
One interesting comment and graphic talks about how "financial innovation (also) played a role (in high US consumer borrowing/debt) as the industry devised new ways for Americans to borrow against their homes. One manifestation was the plethora of credit-card offers... more than 8 billion poured into American's mailboxes in 2006, according to Mintel Comperemedia..."
