Empire of Debt: the Huge Deceptions America’s Economy Rests On

Hello, gentle blog reader,

I’m currently reading Bill Bonner’s Empire of Debt: The Rise of an Epic Financial Crisis:  http://www.amazon.com/Empire-Debt-Rise-Financial-Crisis/dp/0471739022

Though it was published in 2006, the book accurate depicts the current economic crisis. Just look at this:

America’s empire of debt rests on many huge deceptions that we have described in this book:

• That one generation can consume–and stick the next with the bill
• That you can get something for nothing.
• That the rest of the world will take American IOUs forever–no questions asked.
• That house prices will forever go up
• That American labor is inherently more valuable than foreign labor
• That the American capitalist system is freer, more dynamic, and more productive than other system
• That other countries want to be more like America, even if it is forced on them
• That the virtues that made America rich and powerful are no longer required to keep it rich and powerful
• That the United States no longer needs to make things for export

Pretty interesting stuff, don’t you think? 

Bobbi

Watch for these Corporate consolidations later on this year

 Hello!  Here’s something from this morning’s Inbox:

An opportunity to make big bucks.
—————————————————————————–;

> 1.) Hale Business Systems, Mary Kay Cosmetics, Fuller
> Brush, and W R.
> Grace Co. Will merge and become:
> Hale, Mary, Fuller, Grace.
>
> 2.) Polygram Records, Warner Bros., and Zesta Crackers join
> forces and
> become:
> Poly, Warner Cracker.
>
> 3.) 3M will merge with Goodyear and become:
> MMMGood.
>
> 4. Zippo Manufacturing, Audi Motors, Dofasco, and Dakota
> Mining will
> merge and become:
> ZipAudiDoDa .
>
> 5. FedEx is expected to join its competitor, UPS, and
> become:
> FedUP.
>
> 6. Fairchild Electronics and Honeywell Computers will
> become:
> Fairwell Honeychild.
>
> 7. Grey Poupon and Docker Pants are expected to become:
> PouponPants.
>
> 8. Knotts Berry Farm and the National Organization of Women
> will become:
> Knott NOW!
>
> And finally…
>
> 9. Victoria’s Secret and Smith & Wesson will merge
> under the new name:
> TittyTittyBangBang