Stephen Gardiner

There may be some backward countries where the mass of the people are on a subsistence level and where, as an aftermath of wars or partial crop failures, the standard of living has to be drastically reduced, but this certainly is not the case in our prosperous nations.

Leverage is great when it works, and when it doesn't work, it creates a lot of issues. So I think if you limit the amount of leverage that people can borrow, or that banks can borrow, I think you'll find that you'll have a lot less issues going forward.