To: paul51
Too bad this astute comment is over the head of the interviewer and many others, including me. Actually, it is very simple.
Who can borrow more money, an unemployed 18 year old, or a man, 45, who has a good paying job and 20 years experience at the same company?
That is all Stark was saying, because we are a wealthy nation, we can borrow more money, then a poor one.
I do not agree with the level of debt that we now have, it is terrible, and is a disaster in the making. But the truth remains, we can borrow, because we are rich.
81 posted on
09/03/2009 9:28:58 AM PDT by
Michael.SF.
(Where are are we going and how did I get in this hand basket?)
To: Michael.SF.
Let's try one more time. He said the greater our debt, the wealthier we are. The fact that we can borrow more makes use wealthier? Proves that we are wealthier? The only thing it proves is that we are further in debt and paying more interest for it. This makes us wealthier? Please, stop trying to explain it too me. Your wasting your time.
91 posted on
09/03/2009 9:34:13 AM PDT by
paul51
(11 September 2001 - Never forget)
To: Michael.SF.
That is all Stark was saying, because we are a wealthy nation, we can borrow more money, then a poor one. Listen to the first 30 seconds of the video. Stark is not saying that our ABILITY to borrow is an indicator of our wealth, he said, in response to the question "So the more you owe, the more you are worth?", he said "in the national scheme of things, you are quite right".
He didn't like admitting he had made an error, and then got angry.
125 posted on
09/03/2009 10:27:17 AM PDT by
PapaBear3625
(Public healthcare looks like it will work as well as public housing did.)
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