Rickards: Creative Debt Distribution Won't Fix Federal Debt Problem

ArticleDebt crisis May 24, 2018 - 3:34:50 AM

"We have forgotten, as a society, that real goods and services have a real cost."

It’s well and good to suggest free college tuition for everyone. Or a government jobs program that will employ anyone who wishes to be employed, including the completely disenfranchised, largely unskilled labor force who has given up looking for work (and therefore do not show up in unemployment statistics). If you include them as ‘unemployed’, as they very clearly are, official unemployment rates are suddenly nowhere near historic lows.

In fact, they’re in the double digits. But regardless of that fact, more debt is not the answer to the problems that too much debt has already created. Gasoline is not the proper response to a forest fire...

Source: dailyreckoning.com

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