Problem is, we want to eat the cake and have it at the same time. Full-time obfuscators make us all believe six impossible things before breakfast and a dozen more before dinner. By any cannon of logic, the current account deficit in our balance of payments is large and not sustainable, more so when viewed in the context of emerging risks and challenges.
Do people realize that they buy things they don’t need with money they don’t have? Households have come to despise the past and neglect the future. The lessons of the dead and the desires of the unborn are both ignored. Instead, all that seems to matter is consumption, here and now.