The Prudent Investor: The US debt balloon - a simple explanation for non-economists
This is a very nice, extremely simple post about the path we are on to the bankruptcy of the federal government (and since the federal government is the primary supplier now of cash for state and local governments, I guess that will be the end of them too).
Luckily, it's easy enough to make a new government. The main trick will be creating a new government that works better than the old one. It's trivial to make a new, really bad government.
I have finally figured out the secret behind all of our (main) problems.* It's frighteningly simple to understand although I have no solution in mind.
The Austrians and the Libertarians almost have it right. The one question they never answer is - if capitalism is so great, why would anyone veer away from it?
Interesting question.
* How's that for a boast?
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