In A Primer - Part V, I talked about the fiscal irresponsibility of governments once they have the freedom to inflate their currency and spend with abandon, placing the burden of the consequences on the next generation.
I just came across this link to Running On Empty by Mr. Pete Person that speaks to the subject. What I find refreshing is that he is someone from the Republican Establishment, Nixon Secretary of Commerce, a personal friend of the Alan Greenspan, secretary Snow and others and yet he has the integrity to articulate and explain the very dangerous road we are on, i.e. a $44 trillion debt in unfunded liabilities. His motivation for writing the book was "to protect our children". I don't know about you but that catches my attention.
He holds the Republican and Democratic parties equally responsible yet I wonder if, like Mr. Kotlikoff who wrote The Coming Generational Storm, Mr. Peterson isn't just another "voice crying in the wilderness".
And isn't it interesting that you don't hear about this crisis in the popular media.
WSC
