Can you imagine a country wracked by inconceivably massive debt?
Now, can you imagine a country where those those seeking to fix this problem of massive debt want to embrace - and repeat - the policies of the administration that caused this massive debt?
Welcome to the United States of Credit-topia: invented by Ronald Reagan - and his team of crack borrow-and-spend "supply side" debtors. (what they "supplied" was debt.)
Fact: During the Reagan years US total credit grew at fantastic clip of 10 percent a year - far more than any other period since World War 2.
Fact: During Reagan's 8 years as Emperor of Credit-topia government debt increased by nearly 200 percent - from about half a billion dollars to 2 Trillion dollars
Now we have the Democrats who don't really seem at all concerned by the problems of Credit-topia, and the Republicans who seek to fix the problems by embracing the cause of the problems and repeating those policies.
How can We as a Nation be so inconceivably stupid?
The answer isn't important.
The fact that the situation is obviously going to get much worse before it gets better is important.
Protect yourself.
Buy gold
No comments:
Post a Comment