Spenders vs Savers
I always try to read the articles over at Yahoo Finance. Today there was an interesting article from Laura Rowley titled Double Bind: Savers on the Hook for Squanderers. I expected the typical fable about the ant and the grasshopper, and a discussion about the unfairness of government wealth redistribution strategies. I think that was the intent of the article, too. That’s not really what I got out of it, though. Here’s my favorite tidbit:
The Greeks and Romans used credit extensively to finance far-flung commercial ventures and personal consumption — with decidedly harsher consequences: Debtors who defaulted were sold into slavery.
Here’s a thought: Can we sell the government into slavery?
