Postcards: Financial Scams and Republic Speak

While central bankers spend this week trying to convince us that printing money is good for us, perhaps it's time to look to history for confidence men with similar gumption.

Dear Fellow Expat:

The Penn Wharton Budget Model showed this week that U.S. debt will officially be unsustainable based on the current path sooner than you think.

It won’t matter how much tax we hike or how much spending we cut.

We have 20 years – at most - to prevent a disaster where U.S. debt reaches 200% of GDP.

Of course, we already know this…

But upon reading this report, three thoughts came to mind.

First, nothing will likely get done.

The central bank has its head in the sand, and most Congressional leaders have no idea how the debt or deficit works…

Second, we shouldn’t really worry because climate change will have killed us six times by 2043, according to the same people who predicted the three previous climate extinctions that didn’t happen.

And third… I thought we didn’t have to worry about the U.S. debt.

Remember those economists like Paul Krugman and politicians on the Hill who claim the U.S. can never default… because we have a money printer?

Guess not… huh?

It seems a money pr…