I believe that we have already passed the point where action is critical, as we have talked enough. I am always surprised that we have not set ourselves a clear national economic target – one that everyone can understand and embrace. What about a target of 5 percent growth per year? Or doubling our economy in fifteen years? Let the cynics be cynics.
But in some respects, this viewpoint is overblown and not always completely accurate. Let us therefore delve deeper into the issue. Shrinking earnings from interest business are a fundamental problem for banks and savings banks. In prolonged periods of low interest rates, maturing loans with high rates of interest are replaced with new, lower-yielding loans.