"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
The Standard of Living Bubble (And Why It's About to Go Pop!)
Submitted by William Muller on Mon, 2008-10-27 17:00
in
"'Our representatives in Washington, alongside the easy-credit Federal Reserve and its Wise Leader, 'Helicopter Ben,' have essentially subsidized a rash of misguided investments and profligate spending-sprees by consumers who?ve bought into the illusion of endless prosperity. Everyone knows about the Housing Bubble. Well, get ready for the even bigger Standard of Living Bubble, whose bursting is now upon us.?"
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