Though there can be no denying a certain level of pain rippling across the global business landscape, it would be wise to counter the daily apocalyptic newsfeed with the realization that we are experiencing an overdue evolutionary shift in our socioeconomic value system that could benefit the banking system overall.

A review of historical consumer borrowing and spending behaviors returns a litany of frightening statistics. Household debt, spurred on by years of prosperity fed by declining inflation, low interest rates, and sharp increases in stock market and real estate values, became a runaway train.

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