Saturday, August 30, 2014

"Debt Sclerosis"

"We have always found, where a government has mortgaged all its revenues, that it necessarily sinks into a state of languor, inactivity, and impotence." - David Hume (1711-1776)

The trappings of the game may have changed. But the basic rules and expected outcomes have not.

If you think our economy's getting better, there are those far more learned than me who make the case that it's not.

Lacy Hunt: The World Economy's Terminal Case of Debt Sclerosis

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