Economic Angst - an apropos read for all
Recently Judy Baker posted on Facebook a Forbes article about a potential economic outcome of significance. (Judy, thank you.) That article was written by John Mauldin, someone whose thoughts are worthy of consideration.
It may seem silly to some to consider discussing economic policy when all the reports say we are in great economic shape. When I get glowing reports of success, often at a Tuesday commissioners' hearing, I inquire into the details that support the conclusion. I can't recall a time when the answers conclusively (or even just weakly) support the claims. And so it is with the claims of a splendid economy. These claims require study and perspective.
One modest point of perspective: our country borrowed recently an annual amount equal to about $4,000 per every person. So for a family of four, our government borrowed roughly $16,000. That is (using a big picture assumption) like giving everyone a 25% increase in income. Is it any wonder that this "free" money makes things look rosy? (yes, I know that this money benefits some and not others and in the long run has negative consequences ... see the article below)
John Mauldin provides a further rational look at this issue in his recent article:
It is well worth your time to read it.