INTRODUCTION I posted the long series on John Law because of its parallel to the United States finances today – spending beyond our budget, constant deficits. We are on the same path that John Law took France in 1715. We are moving slower, but eventually those debts will be paid by more taxes, less spending, or inflation. Our course is not irreversible, and this is not a “gloom and doom” forecast, just a cautionary note.
Awesome story!
Great story! Told well. Thanks.