Consumer borrowing and government budget deficits both pull what would have been future economic activity into the present, while pushing the associated costs into the future. When this unsustainable behavior reaches its point of exhaustion, and people finally realize the folly of it all, employment falls, reckless investments are liquidated, and bad debts default.
June 26th, 2009 | Dan Amoss | 0 comments | ContinuedAll Posts Tagged With: "American consumer"
The World is Changing and Leaving America Behind
Americans ought to get out more. We’ve been living and traveling outside the United States for the last 14 years. It’s a big world… there’s a lot to see. And what we see is a world that is changing fast… growing… evolving… experimenting…
May 14th, 2008 | Bill Bonner | 2 comments | Continued