> Deutsche Bank recently pointed to the 15 percent year-on-year increase in household interest payments. Levels of payments rising at a similar pace preceded th

> Deutsche Bank recently pointed to the 15 percent year-on-year increase in household interest payments. Levels of payments rising at a similar pace preceded the onsets of the last two recessions. That's because the Federal Reserve caused the past two recessions. First by allowing an asset bubble to form, then by overreacting and driving the entire economy into recession. It's strange how Bernanke is lauded as some hero that saved us from the Great Recession. I've heard quite a few smart people, people like James Grant, identify him both the savior from, and a cause of, the Great Recession. Curiously I only hear about their successes in the recovery and not their part in the crash.