Friday, September 9, 2022

In the #News #Debt #Economy

“If you don't read the newspaper, you're uninformed. If you read the newspaper, you're misinformed.”

“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”

― Mark Twain

Subscriber Comments

The comment below reflects falling standard of livings in which the majority engages in finger pointing in attempt to clarify the problem that nobody understands.   For example, constructs such as kids are uneducated, lack ambition, have no respect for the old ways or dreams of a better future through self-realization and hard work.

Rather than call these comments bull shit and walk away, let's remind ourselves numerous generations of our elders, some poorly educated, and some highly educated within a world of entitlement and power, piled on the debt to all citizens of the United States and world. Today, one dollar of credit creation generates only 27 cents of domestic income for the US. 27 cents is only slightly better than the 2008 Great Recession, the recession to end all recessions, and well below the lows generated after the debt collapse from the Great Depression.

Today's kids are smart and work hard. Some work much harder than others. They will do like all of us, and learn, much outside of school, what is needed to survive. Those skills will include dealing with the colossal default of the world's irresponsible debt burden created by the previous generation of hard workers, or at least their leaders, of which they (the workers) allowed to create either through apathy or complacency.

The invisible hand is coming for all of us. The sooner we realize that we're all in this together, no one group is responsible for our demise, the easier the recovery. Rather than point fingers at younger generations, we should be apologizing.

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