Can anyone explain this to me?

“One of the big problems we have is that there has been a lack of demand for debt. You have seen the market for securitized debt such as credit cards or student loans dry up completely,” said Scott Brown, chief economist at Raymond James & Associates in St. Petersburg, Florida.

Now if i understand this correctly is’nt this what got us into this mess. People have too much debt as it is, Its not all about having a bad mortgage. If we did’nt have all this high interest debt, we could make our mortgage payment,. They need to cut all interest rates down to 5 or 6 percent and let people pay this stuff off. Crap! Why can’t they see this!

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