No end to articles warning about the debt crises. Every few days you can read a new one, fully reshearched, together with graphs, supporting studies, quotes from the famous etc. It all sounds so plausible, and the outcome so obvious. Yet, none of this gets past the internet, none of this registers with those in high places. So, one has to question the value of any of this. Personally, my eyes are beginning to glaze over, the warnings of disaster from previous articles still echo in my ears. But the world is still functioning, the party goes on and on and on, and we are re-assured from the highest sources that there is no end, that everything is just peachy.
But then my sense is our standard of living is propped up by debt, that we are living high on the hog on somebody else's tab. I know it is wrong to saddle the next generation with our excesses. But, who am I to question the wisdom of debt when it is hailed and exalted by the highest in the land?
Like a drug addict, I continue to read, sometimes only scan the articles because they begin to sound the same.
"The reckless financial policies of leading western powers in the last two decades make it likely that the next seismic debt crisis will be in America, not Argentina. It can be avoided, says Ann Pettifor of the Real World Economic Outlook, only by serious efforts to bring regulation and balance to the international economy."
This from: opendemocracy.net
Then there is this: "“America’s Growing Trade Deficit Is Selling the Nation Out From Under Us”" (Warren Buffet)
from:http://www.financialsense.com/fsu/editorials/fox/102803.html
I better stop here. There's lots more like the above. Wolf, Wolf, wolf, wol, w |
