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America’s “Prosperity” Since 1950 Was a Sham

Want to see the secret behind America’s “prosperity” since WW2?

Here it is.  It’s debt.  Personal debt.  Corporate debt.  Government debt.  Bank debt.

total-debt

 

We’ve borrowed $60,000,000,000,000 creating an illusion of growth.   An illusion that is already starting to fade.

It wasn’t always this way.

Up until 1950, the US led the world in economic prosperity and we did it without debt.

How did we achieve 150 years of economic leadership without debt?

We based our prosperity upon a novel notion.  We based our economy on debt-free, economically independent households, and it worked.

It worked like nothing else across all of recorded history.  Nothing in Europe or Asia has ever come close to the prosperity the US was able to deliver over its first 150 years.

Unfortunately, all of that changed after WW2.

Since 1950, we’ve based our economic growth on debt.

What did we do with this debt?

We created an illusion of economic progress by using this debt to build a massive government bureaucracy and an equally massive financial system.

But this debt came at a high cost.

It cost our economic independence.   Our households are now economically dependent.

Join the movement to restore America's prosperity

Discussion — 2 Responses

  • Brian August 6, 2014 on 4:36 pm

    Increased financialization is not per se debt. There’s a vast correlate increase in economic order. On the other hand, while Alexander Hamilton would love the centralization of finance, that’s something we need to repair. We need to rebalance extraction and assist population security.

    Reply
  • John Robb August 6, 2014 on 4:58 pm

    The modern financial system is founded on debt. It’s the basis for nearly everything it does.

    Reply