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Friday, December 17, 2010

Warnings from Doug Casey

Amplify’d from

Right. I keep coming back to basics; to accumulate wealth, you have
to produce more than you consume and save the difference. In time,
that savings can be invested in new ventures and new technologies
that create prosperity. You simply cannot spend and consume your
way into prosperity, either as an individual or as a society. Worse,
all the debt in the world is an indication that many people are,
in effect, living out of future production. This is why I keep saying
that what they are doing is not only the wrong thing, but the exact
opposite of the right thing. I'm not just being rhetorical – it's
the literal truth. Real, sustainable economic recovery and growth
depends on abandoning the old, uneconomic patterns of production
and consumption that punish saving.


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