Thanks for the intelligent input to this very serious topic. It's nice to see
evidence that there are still some citizens of the United States who
understand that we are not infallible and in fact continue to make major
mistakes fueled by our arrogant attitudes.
People can ignore the warning signs . . . basing their assessment of the USA's
financial stability solely on the expectation that the pessimists will be
wrong again as they have been in the past. Perhaps we should consider this
thought . . . it doesn't matter how many times the "doom sayers" may have
been wrong about the timetable for the coming financial collapse and resulting
world wide depression - they only have to be right once. No financial entity,
no matter how large or small, whether personal, family, state or nation, can
survive for long if their spending is greater than their earnings. The result
of the prevailing attitudes that: 1) "paper earnings are equal or superior to
real production and sales earnings"; and 2) unsecured loans can easily be paid
with future paper earnings; will be the acceleration of the timetable and a
corresponding increase in the depth of the inevitable financial collapse that
will surely follow such short sighted personal and national fiscal policies.
There are other possible solutions besides hiding out in the hills with your
gun and can of beans, or sticking you head in the sand and pretending that the
problem doesn't exist because you refuse to see it. We can sacrifice today's
wants (usually referred to as "needs" or "entitlements") and pay off our
loans. We can focus our efforts on building real, tangible production of
goods and services that strengthen our ability to provide the real necessities
of life (food, clothing, shelter, loving and caring families) instead of
chasing the quick $.
We can learn from the mistakes of the past. But we can only learn from those
mistakes if we stop making the assumptions that: 1) we are infallible and 2)
we are not subject to the "Law of the Harvest". We are not special cases; we
will reap what we have sown.
An amatuer historian,
395 S. 1100 W.
Farmington, UT 84025 USA
For more information about the rp-ml, see http://ltk.hut.fi/rp-ml/
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