For all the growing optimism that we may be pulling out of the downturn, there has been appallingly little discussion of the fundamental rot at the heart of our economic (and, let's be honest, moral) system built upon debt and consumer spending...and debt, debt, and then some more debt. This optimism is based on growing credit (also called "debt") and consumer spending, while the savings rate is zero or below zero. The obvious truth is that we can't forever borrow money and spend it without one day paying the (Chinese) piper, but nobody is willing to push for change in other directions. Meanwhile, things are much different in Asia where they, like, you know, build things and export them. And where the rich save their money in banks , of all places. The wealthy in Korea spend a lot too, but if you are saving 31% of your income that seems ok. "Korea’s wealthy save more money and spend less than their peers in other Asian countries, according to a recent consum...