Shakespeare’s Polonius offered this classic advice to his son: “neither a borrower nor a lender be.” Ben Franklin commented on the subject of debt saying: “Rather go to bed supperless than rise in debt.” The politics of debt has always ruined the state. The celebrated British economist John Maynard Keynes said it like this: “If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours.” Indeed, the problem is the bondholders. It is our problem only until government cannot squeeze blood from a stone. Then with the uptick in interest rates, the slight rise will have a doubling effect on interest rates because they are artificially too low.
We will be publishing The Solution and Why Pensions Will Collapse. These will be two vital reports for the future that we now face. We will let you know when these are available.
