Investing in Precious Metals 101 Ad
  • Insider
    Blue Sunburst Peak Prosperity Logo

    Follow the Money

    by Chris Martenson

    Monday, August 25, 2008, 1:22 AM

Enroll Now For enrolled members only. Enroll or Sign in to read the full article.
Saturday, August 24, 2008

Nobody can borrow and consume their way to wealth; no city can do it, no state, and no country either. For the past 25 years the US has been progressively producing less and less, consuming more and more, and borrowing to cover the difference.

Today I stacked wood for the winter, which is always satisfying, and thought about where we really are in this credit crisis. That was decidedly less satisfying.

It is important to remember that we did not get here all at once, and that this crisis was not caused by subprime mortgage defaults. Rather, those were effects, while the cause was the cumulation of 25 years of progressively larger borrowing…

Enroll Now
Or Sign In with your enrolled account.

Related content
» More

No Comments on Follow the Money

Enroll now or Sign In to read all member comments.