The Problem with America’s Anti-Savings Policy
America is the J. Wellington Wimpy of nations, as its government and its people will gladly pay its creditors on some elusive Tuesday in the future for everything it wants today. An economy based purely on consumption cannot stand. An overemphasis on consumption eventually eats up nations like hypocrisy and racism, ironically, ate up Paula Deen. History is replete with examples of empires falling, in part, because of the financial instability of their debt.