Swimming with the Sharks: The U.S. Economy
Program #PHIK003. Recorded in Seattle, WA on April 30, 2008.Since the end of World War II, almost automatically, each generation expected to be better off then the previous one. No more. The American economy is in decline. The rapidity of the collapse has been startling by historical standards. Thanks to reckless bi-partisan policies at home and endless imperialism and militarism overseas the salad days of prosperity are over and unlikely to return. The national debt, the budget deficit, the trade deficit, and individual debt are huge. The rate of home foreclosures has not been seen the Great Depression of the 1930s. Corporate and personal bankruptcies are sharply rising. The math is pretty simple. If you keep borrowing and borrowing, sooner or later you have to pay up. The sharks are out there taking bigger and bigger bites of your wallet and, if you have any, your savings.
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