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You can’t have great wealth without great debt

January 12, 2013
The Marietta Times

If you go on the web-page of our local Congressman, you will see a long number that is growing - rapidly, it looks like on the right end. That, we are informed, is the national debt, which is (we are supposed to believe) out of control. But we need to understand what debt is. It is in fact the back side of wealth, and it must precede wealth, as I will try to explain. Wealth and debt are rather like protons and electrons. They are opposite charges, but you can't have one without the other. They are held apart by basic forces, and if they came together they would cancel each other out and that much matter would vanish destroyed. We are warned that someday our grandchildren will have to pay off the national debt, but in fact they never will. If they tried to, they would just be eliminating the wealth on which our economy is based.

 
 
 

 

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