Best Analysis Yet

This analysis of our country's financial condition, by James Quinn, is the best I have read yet. Among the most salient points, since 1980:

• The National Debt has grown by 1,150%
• GDP has grown by 500%
• Consumers have increased their total debt level by 738%
• Revolving credit increased from $56 billion in 1980 to $982 billion
  today, a 1,750% increase

In other words, we've borrowed way too much money. And the money the government is spending to "stimulate the economy"? That will be borrowed as well. The change we can believe in is this: we will borrow and spend our way out of the largest debt bubble in history.

Quinn compares the US situation today to that of Japan in 1989 and concludes that we will be very lucky if we make out as well as Japan did.