And Vince, It's YouTube

Senator Chuck Schumer Photograph by Tom Williams/CQ Roll Call

The legendary Byron Wien, now at BlackRock, has written “disasters have a way of not happening.” Apocalyptic scenarios abound, and with understandable reasons. But I believe the deleveraging in America (debt from 100% of income, to 133% in 2007, to 113% today) while not over, will allow the consumer to continue to power the economy.

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