[KarlInOhio]

If nothing else we need to go from an economy where we borrow against tomorrows production to one where we live on today's (or even yesterday's) production. That transition will be as painful going the other direction was fun. But the alternative is complete collapse.

[Gondring]

If nothing else we need to go from an economy where we borrow against tomorrows production to one where we live on today's (or even yesterday's) production. That transition will be as painful going the other direction was fun. But the alternative is complete collapse.

KarlInOhio, you are right on the money...I just fear that few will accept the reality.

[dfwgator]

If nothing else we need to go from an economy where we borrow against tomorrows production to one where we live on today's (or even yesterday's) production.

Yep. I refer to that as the "Wimpy Economy", named after the Popeye character. "I'll gladly pay you Tuesday for a hamburger today."

[1010RD]

Then we’ll need to change the pro-debt tax laws and regulations. Much of what we are suffering is favored status for the Nat. Assoc. of Realtors and our banking/insurance friends.

[1010RD]

Many Austrian economists, me included, think that we have been living on yesterday's production. The 19th century saw an enormous boom in American innovation, business and wealth.

European wars of revenge spent their wealth and destroyed their production. We took on their socialist and financial model and are damning ourselves.

Despite what libs/socialists/most Dems think, money doesn't grow on trees and you cannot tax/spend it forever.

They branded those 19th century entrepreneurs "Robber Barons" and did all they could to ruin their path to wealth for the rest of us. Taxes, regulations, & courts are all means to destroy wealth.

We're living on the vapors of the 19th cent.