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Mark Smith
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“You have to remember that it took us 10 years to get here. We had an expansion built on easy, cheap credit, and that’s now being corrected,” Paparozzi points out.
The household and business sectors of the economy are both now in a “de-leveraging” process that may just be in the early stages, he says. “We’ve got a whole lot more work to do to get our (national) balance sheet back in order.”
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