The Emperor Has No Clothes?

I happened to read a statement today that said student loans were the top asset of the U.S.Government after land and people. If there was ever a time when the the old saying about the emperor having no clothes could be said, this might be that time! Our government has no real assets (clothes)!!

Trust me, I know that bookkeeping systems classify money owed to you as money that should eventually come in on the positive side of the ledger. But the keywords here are “should” and “eventually.” First, who in their right mind would structure their budget and base their hopes for a secure future on such massive debt? Second, what system would base their future on massive debts owed to them by people who cannot pay because that same system has not made a single decision to benefit those people in years???

4 thoughts on “The Emperor Has No Clothes?

    • Ouch! That is rather frightening! Especially in light of the new banking rules that allow banks to confiscate our money if they become insolvent!!

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