Tuesday, February 2. 2010

Welfare Nation: Addiction, Denial & Magical Thinking


'Any nation which borrows/prints 20% of its GDP every year is essentially a debt addict on welfare.

If you depend on borrowed money which will never be paid back and freshly printed notes for 20% of your expenses, you're on the dole. Since we will never pay it back, the borrowing of the money is just a sham; stripped of deception, it's welfare, a "gift" from future taxpayers to the current beneficiaries of Federal largesse and swag.' (Charles Hugh Smith article).

media-underground.net

Posted by mortimer in commentary at 07:05

Trackbacks
Trackback specific URI for this entry

No Trackbacks

Comments
Display comments as (Linear | Threaded)

No comments

The author does not allow comments to this entry