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The US (and the Western world for that matter) has been too drunk with debt. The tap flowed freely first with credit cards and mortgages. Then with home equity loans. Banks have had to borrow tremendous amounts from the lender of last resort (FED). The federal government has been borrowing from other nations through Treasuries. Now, we are borrowing from future generations through massive stimulus plans. What or who can we borrow from next? It seems like there's only one other source - borrowing from everybody's cash through inflation. When the government starts cranking the printing press, midnight has struck.

Posted: 2009-02-12 14:53:36


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