Good Financial Advice For Americans

Though we Distributists and our Libertarian opponents are often at loggerheads on many issues, on this one we agree. From the website LewRockwell.com comes this timely essay by Bill Bonner, author of Financial Reckoning Day: Surviving the Soft Depression of the 21st Century. We suggest you read the essay and get the book, and act on both as quickly as you can.

3 comments:

Mark,  Thursday, September 22, 2005 at 3:20:00 PM CDT  

In this essay, which part do you agree with?

I think some of his numbers sound fishy.

1) 40% of GDP is saved by China? I don't think any nation has EVER saved that much in GDP.

2) 36 TRILLION in debt? Uh, ok. Maybe, but I have never seen this before.

I think part of this is scare tactic and with a link to his book it makes me a little skeptical. However, I do sense some truth in what he says:

1) Bureaucratic governmentt is feeding off itself

2) We, as a nation, are NOT saving like we should be, thereby depending totally on the government as seen in the Katrina disaster.

And from a distributist point of view I would think his "good financial advice" of renting a home is utterly against the notion of distributism.

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