History Will Not Be Kind To Us
MN Gordon, a very well respected author on the economy and markets, posted “To Hell In A Bucket” last week. It is worth your time to read.
“There are predictions floating around that The Donald will again double the federal debt, taking us to $40 trillion. If he and Chuckles Schumer succeed in obliterating the debt ceiling, he just may pull it off.
“Can you imagine how miserable the economy will be when it’s larded up with $40 trillion in government debt? You’d be lucky if GDP merely flat lined. The whole dang shebang will be crushed under weight of this massive debt. And don’t get me started on corporate and private debt – that’s a whole other story.
“You see where this is all going, don’t you? To hell in a bucket!
“You’d think runaway government debt would be a big deal for people. But it’s not. As I keep telling you, no one cares about the federal debt.
“If you want people to read your articles, you need to write about Amazon or Apple stock – or cryptocurrencies. Tell them prices will double and then double again. That’s what people want to hear. So why not give it to them?”
The question is – why do we not care? When did we become so infatuated with greed that we honestly prefer reading “about Amazon or Apple stock – or cryptocurrencies. Tell them prices will double and then double again” rather than we have – quite literally – mortgaged our future and the future of our children and grandchildren? How did we become so removed from caring about our future and the future of our offspring and the future of our country and the future of our world that the majority of people simply do not care?
In the not-too-distant future historians will ask this question and they will postulate many different answers. They will ask how society arrived at the conclusion that an Obamaphone was more important than the future of children? They will ask how society arrived at the conclusion that assuring the profitability of insurance companies came to be proclaimed a human right? They will ask how society arrived at the point where the cause-and-effect of these things became so convoluted that the majority of society could no longer determine any cause-and-effect? They will ask how an education system that should have been teaching fundamental cause-and-effect became so obsessed with its’ own greed and proclamation of rights that it failed to educate on anything related to the reality of this situation.
Future historians will not look back on us favorably.