Somewhere between when I was a little tyke playing army in the backyard with my GI Joe gun and grenades and as I write this post a whole bunch of years later; Someone decided that infinite growth through unlimited debt was the answer to all the worlds problems…
It is like another ponzi scheme and or pyramid scheme. The first few get all the wealth…
Don’t get me wrong, it would really be cool to just get a million dollars from the bank and when you spend that, you go get another million and keep doing that indefinitely….maybe only paying the interest if you feel like it….and hoping that one day you owe so much money to the bank that they cannot tell you to go away….
If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem. – J. Paul Getty
And that is the biggest issue. They decided to call it, “Too Big To Fail!”
And the world thinks that all is good with unlimited debt?
My money is on the fact that this is a bad thing in the long run…
WtR