Comments on: Living on borrowed wealth

By: living on borrowed time

living on borrowed time — Sat, 06 Mar 2010 20:29:19 +0000

[...] … for and on behalf of the Historians of Tomorrow from whom we borrowed the baseline assets. …Living on borrowed wealthThis is referring to Britain, but it may as well be directed at the USA: This recession is not a [...]

By: Andy

Andy — Fri, 30 Jan 2009 23:46:06 +0000

Yes, but what do we do if we live with people who bring the system down around us. Sometimes I’m attracted by the idea of learning how to farm, but I think it’s too late for that.

By: Michael Duenes

Michael Duenes — Fri, 30 Jan 2009 18:55:03 +0000

Borrowed! But that is not a failure of the market. I love how “the market” gets blamed for everything. People have made choices, and not just greedy people. Americans have no trouble living with massive and constant debt because they largely believe they are entitled to a good many things which they cannot afford. And then government policies, both liberal and conservative, make it easier for them to live beyond their means. The problem is not the market, but the loss of virtues like thrift, diligence, deferrment of gratification, patience, gratitude, and the like. This does not mean that any particular economic “system” is flawless. In this world there is no such thing. But it is naive to just blame the “freemarketers” and the “corporations” as though they were inherently greedy.