Spitting on the Boomers’ Financial Legacy
By Bill Bonner
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They ruined it. The financial industry took over…replacing manufacturing. Instead of making things we could sell at a profit, Wall Street sold debt – mostly to us! In government, imperial ambitions pushed aside the restraints and good sense of the old republic. Overseas, military bases were set up in 120 countries. We now have unwinnable, trillion-dollar wars that could go on forever. At home, the sheep look to the government to solve every problem. Thirty-five million Americans – almost as many as the entire population of Spain – depend on the feds’ food stamp program for their daily bread.
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And day after day, the debt builds up. Soon, it will be too big to handle. And then, these same young people – who can’t get a foot onto the lowest rung of the employment ladder – will be asked to shoulder this huge burden of debt left to them by their parents. You can imagine their reaction…
…they will spit on our graves!
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[JR: Well, if they do, they should spare some spit for the Americans of the early 1913 that allowed the FED to be created and those of 1932 that took us off the gold standard. Today's disaster is a direct result of those two key events.]
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