Loved this short letter in the August 21 issue of Barron’s Weekly. Word for word, it is hard to top the wisdom packed into this short item:
To the Editor:
Our inflationary policies, financed with debt, have provided prosperity and growth that is more illusory than real. Our debt addiction offers a short-term high, but it extracts a fearsome penalty in the long run. Our problem is a lack of contentment, patience, and self-control. People want it all, and they want it now. Real growth and prosperity come as a result of hard work, prudent investment and productivity, not artificial stimulus.John W. Supp Jr.