Thursday, December 27, 2012
Most Americans are way too busy living the good life to be bothered with “doom and gloom”. Well,get ready to say goodbye to normal. As history has shown us,no financial bubble lasts forever,and time is rapidly running out for us.
Will
this be the last normal holiday season that Americans ever experience?
To many Americans,such a notion would be absolutely inconceivable. After
all,in the affluent areas of the country restaurants and malls are
absolutely packed. Beautiful holiday decorations are seemingly
everywhere this time of the year and children all over the United States
are breathlessly awaiting the arrival of Santa Claus. Even though
poverty is exploding to unprecedented levels,most families will still
have mountains of presents under their Christmas trees. Of course a
whole lot of those presents were purchased with credit cards,but people
don’t like to talk about that. It kind of spoils the illusion. Sadly,the
truth is that our entire economy is a giant illusion. The extreme
prosperity that we have been enjoying has been fueled by debt,and any
future prosperity that we will experience is completely dependent on our
ability to go into even more debt. The total amount of debt in our
economy is almost 10 times larger than it was just 30 years ago,but we
don’t like to think about that too much. Most Americans are way too busy
living the good life to be bothered with “doom and gloom”. Well,get
ready to say goodbye to normal. As history has shown us,no financial
bubble lasts forever,and time is rapidly running out for us.
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