The US Is Broke – LewRockwell

“The rich rules over the poor, and the borrower becomes the lender’s slave.” – Solomon

This is the story about Debtor, a newborn American baby. Debtor has just been born into the greatest economy in the world, a land full of promises and opportunities. This is what his parents tell him. But unbeknown to Debtor, he has been given a very bad start in life. Because the parents haven’t told Debtor, and how could they since they are not aware themselves, that he starts life with a massive debt burden that will grow manifold during his lifetime.

THE AMERICAN DEBT SLAVE

King Solomon’s words will ring true for almost every American born today. The average American is a debt slave already at birth. And by the time he dies, his debt will have increased exponentially, thus passing on an even bigger debt and greater enslavement to the next generation.

This is a vicious circle that has gone on for just over 100 years. A very small elite has become incredibly wealthy and the masses have become enslaved by private and government debt.

What Has Government Do…
Murray N. Rothbard
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For the majority of people it will be impossible to extricate themselves from this massive debt stone around their neck. Instead they will add to the debt by taking on more debt.

US DEBT GOING FROM $21 TRILLION TO $43 QUADRILLION

But the government will also do their part. They will at least double the national debt every 8 years as they have been doing for several decades ( see last week’s article). Starting from $21 trillion debt today and assuming that Debtor will live until 88 years old, a doubling of the debt every 8 years would lead to a $43 quadrillion federal debt in 2106. Most of us…

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