From Bill Bonner today:
The luck of one generation is the curse of the next. Like Pericles, your parents inherited a dollar; they leave you a peso. They took over the strongest, richest, most competitive nation in the world. And like Pericles they minded everyone’s business but their own. Now, not only does the US owe money all over town, its government puts out trillions more in IOUs every year - each one with your name on it. You’re not even out in the real world yet, and you’re getting the bill for 50 cents of every dollar the feds spend - almost none of it earmarked for you. But that is the thing about the real world your teachers probably forgot to tell you about. It is more unreal and fantastical than anything you studied. Here’s what’s real: You’ve been dealt a bad hand. From the bottom of the deck…your parents have slipped you some nasty cards. Our advice? Fold ‘em. Get up from the table before they clean you out. Enjoy your weekend, Bill Bonner
May 29th, 2009 at 4:41 pm
Knowing human nature and the tendency to forget history why should we think future generations will honor this debt? Especially since it is acknowledged even now as bad? Consequences of not paying up? Who knows, but not very pretty.
June 1st, 2009 at 11:10 am
I sure don’t like to see this happen, but it looks like the United States as a whole, is becoming a very large version of GM.
June 4th, 2009 at 2:13 am
Jeff, nothing to worry about mate, in fact more to celebrate - this FIAT usary system must come to an end. Global economic slavery is not my idea of fun a terra earth and i didn’t come here to fill the pockets of nasty, shadowy aspects of humanity.
But the fear of money motivates and dominates everybody’s life from here to timbuktoo.
I hope the powers that be shoot themselves in the foot but they won’t go down easily, besides they have all the guns, the media and the brainwashed sheeple doing sweet ef all about the obvious robbery going on. They’re all to busy at ‘work’ to give a damn!
Good luck my concerned friend and remember, they want you in fear. It vibrates at a much lower frequency than love. This is what it is all about my friend and we are here to rise above it.