Wednesday, September 5, 2007

The Morality of National Borrowing: Let Our Grandchildren Pay the Bills

The Moral Argument Against All Bailouts

An Open Letter to Future Generations Dear Future Generations: We come to you hat in hand to borrow trillions from you to pay off our insanely risky gambles in the housing bubble. Because you can't vote yet, and our spineless, morally corrupt and short-sighted politicians are so cravenly desperate to win the next election that they will gladly sell you down the river to pander to the Greediest Generation now, well, you don't really have a choice.

Posted by quiet guy @ 07:50 PM (738 views)
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7 thoughts on “The Morality of National Borrowing: Let Our Grandchildren Pay the Bills

  • Ihopeitgoeswithabang says:

    LoL now thats one hell of a rant!
    “Not only are we spineless, whimpering, self-piteous worms, we are completely shameless”
    Pretty much sums it all up really.

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  • A very honest article. Too many folk out there trying to have things they haven’t worked for and live a “celebrity lifestyle”.

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  • Thanks enuii and dohousescrashinthewoods. I’m not sure how I managed to get the mistake past the URL checker.

    I was really hoping for some comment on the blog article about the morality of borrowing for consumption. The article is American but the gist of Smith’s argument still holds for the UK as well e.g. PPP borrowing for essential services instead of taxation.

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  • “grandchildren”… “in the future”… Don’t you mean screwing over everyone, around about or under about 30, NOW and onwards?

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