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Instead of building its full faith and credit, the United States government is becoming increasingly faithless and is losing credit by the second while sucking individual Americans into ever-greater debt. Yet, against all expectations, Americans seem to be waking up Wealth cannot be borrowed. For some not-so-unknown reason, Americans seem oblivious of that fact. The reason: they have been conditioned to view debt as 'money' for decades on end, while TV commercials showed them since childhood that all you need for the good life is a credit card from so-and-so bank - and a golden one, at that. As Peter Schiff noted in his recent article, by getting involved in the housing market, the government achieved the opposite from its stated end of making housing 'more affordable.' Because of cheap credit and lax lending, housing prices... [read full story]
