I just read a great piece from Mauldin Economics, Outside the Box, entitled, “The Blip”. I think that everyone should read it. If you do not subscribe to his free newsletter you can do so at http://www.mauldineconomics.com/subscribe.

I posted a comment about the article and the entire text of that comment is as follows:

Academically schooled in engineering and economics I tend to seek a scientifically based solution when contemplating our economic future. However, the more I think about it and the older I get, the more convinced I become that it is the social aspect of humanity that ultimately dictates our economic future – the collective psychology of American society has changed in my lifetime. I was born into a world where opportunity exited for those who accepted the responsibility for their future. Today I live in a world in which individual responsibility has been replaced with government granted rights. I do not think that we will return to economic prosperity until we return to individual responsibility – and, alas, that does not appear to be likely within the near – or distant future. America became the great economic – and social – model for the world; not by government planning but by the collective achievements of individuals seeking to improve their lot. When individuals succeed, all of society benefits and prosperity not only trickles down – but bubbles up as well. Government cannot give me anything that has not been taken from someone else. So called intellectuals will tell us it is not that simple. Me? I wonder?

I truly fear for the future of my country. We are on a spending binge that is not sustainable. No matter how skillfully or eloquently explained, what we are currently doing with our nation’s financial future is going to end badly – and the pain will be significant and felt by all – for a long time!

Time is precious – and we are rapidly running out of it!

The first step in changing what our future holds is confronting the reality of our current situation.

 

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