In the Land of Make Believe we love our kids. There's nothing we wouldn't do for our kids. Our children are the Future. We buy them all the sugar snacks they can shove down their hungry gullets. We devote entire industries to amusing them: movies, television, video games. And we do it all with money we've borrowed - from them. Well, not really from them. Most of them are fat diabetic TV addicted morons (just kidding!). But from their future earnings.
The same way the Banks are stealing from all of our Futures by printing and distributing money to themselves, we're stealing from our kid's futures by printing money to distribute massive medical benefits to ourselves, and borrowing every last cent we can get our fat fingers on in order to live in houses that are too grand and drive cars that are too big.
All the borrowing creates an massive Demand Imbalance that forces prices up, just as all the money printing creates a massive supply imbalance that forces prices up. And like every Ponzi Scheme all of us Old Maddofs do fine, while our precious kids, for whom we'd do anything, are left to hang themselves from a beam in the living room, while their kids sleep in their cradles in the next room.
The young and the broke: 37 percent of young households hold zero or a negative net worth. The median net worth of those 35 and younger is $3,600.
And the really sad part is the best hope Our Precious Children have to better themselves is education, the cost of which is becoming so prohibitive that the average student comes out of undergraduate college with $26,000 of debt - and just barely able to read and write. And Meanwhile you have a Republican field of candidates for President just falling over themselves to brag about how they'd destroy what's left of the educational system in this country.
Thank Gold for all TV Shows, Movies and Video Games, so that our Precious Kids, for whom we'd do anything (except stop spending on ourselves) so that those precious tykes will have something to do while they live on our couch after graduating with all that Debt.
nto the overall systemic pilfering of the middle class.