Dire Trend #1: Debt

Second in an ongoing series about the deeper reasons behind the difficulty of finding work

Dire Trend #1 – Runaway Debt: I think everyone has pretty much noticed this one, and if not, it’s because we’re collectively putting our fingers in our ears and shouting “Na na na na!” at the top of our lungs. In a nutshell, our government has run out of money, and is paying for everything on borrowed funds –as have other governments all around the world. It’s the same as when you or I put the rent on a credit card to make up for having no money in the bank. That means more money is going out than is coming in, it leads to exorbitant interest fees that make it ever harder to catch up, and sooner or later you reach your credit limit and get cut off. If that happens to you or me, we declare bankruptcy and lose our homes. If it happens to a Third World country, you end up with riots and the rise of warlords. I don’t think anyone knows what happens if it happens to the world’s premier superpower, but it seems unlikely to be good.

NEXT WEEK: Dire Trend #2

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