Wednesday, February 17, 2010

National Debt Explained Again

Maybe Tom Brokaw was more right than he thought when he named the WWII generation "the Greatest Generation."

Through their sacrifice and work, they secured the freedom and liberty of half of the Western world. (the other half was locked into a time warp called communism)

But what Brokaw probably didn't realize is that during their lifetime, they oversaw a "standard of living" bubble that inflated from just over nothing in the 1930's to reach the peak in around 2016. Unfortunately, the bubble is about to burst.

There is no way for a population to consume more than is produced. And that is where we find ourselves today.

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