Debt
Any Fool Could Have Seen This Coming - Including This One (Part Three)
More on how my 1988 book The Captive American discussed the same economic foolishness we see today.
October 14, 2008 | Read More
Any Fool Could Have Seen This Coming - Including This One (Part Two)
Way back in 1988, I wrote a book called The Captive American. I happened to glance at chapters 14, 15, and 16 the other day, which discussed the economic troubles facing our country back then. I was stunned by how little has changed. What’s the old saying? Those who don’t learn from history are doomed to repeat it? Take a look at what I wrote 20 years ago and see if our failure to learn from our mistakes doesn’t break your heart the way it broke mine:
October 14, 2008 | Read More
It’s The Leverage, Stupid
As Rome burns we don’t just have one Nero with a violin, we’ve got several thousand of them - each scraping out the same old partisan fight songs we’ve heard a thousand times. There is plenty of blame to go around. There is no doubt about that. But while the details of derivatives and credit default swaps are complex, the underlying cause of the problem is all too simple: leverage.
October 10, 2008 | Read More
Governomics: Your Debt = Government’s Lifeline
Our government needs its citizens to spend beyond their means. But with real wages stagnant and the national savings rate at or below zero, what does this spending mean? Debt, that’s what. Lots and lots of debt. In other words, government has come to rely on its own citizens’ bad financial habits.
October 7, 2008 | Read More
