Wednesday, February 9, 2011

Related Links on the Dangers of U.S. Debt

Boston University economist Laurence Kotlikoff tells us that our nation is bankrupt, and we don't know it.

Chuck Bentley from Crown Financial comments on the Kotlikoff article from a Christian perspective. You can download Bentley podcast. It's worth a listen.

The late Larry Burkett, the founder of Crown, was predicting this kind of disaster back in the early '90's. I'm glad I didn't take all of Larry's advice at the time. I've made a little money -- or perhaps at least conserved my savings to some degree through mutual funds. The difference now is that the debt load is clearly unsustainable outside of massive tax increases or very high inflation. The only reason Larry was wrong at the time is that he could not foresee the buffer that increased productive gave us via exponential growth in computing power and the internet.

Conceivably there is, just over the time horizon, some marvelous advancement in nano-tech or a breakthrough in energy sources that will again buffer our collapse or even bail us out

And the Publisher's Clearinghouse Sweepstakes van is on its way to your house.

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