David Johnson

I seem to recall some wise person telling me as a child:

If it sounds too good to be true, it is.

Maybe our “bailouts” and “economic stimulus” ideas don’t sound very good to you… but the whole thing reminds me of an adage that I have come to believe after years of working to master personal finances:

You can’t borrow your way out of debt.

-David G. Johnson

And you can quote me on that.

All of this wise thinking today is inspired by Fred Thompson:

Hat tip: Michael Pink

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Tagged as bailout, credit default swap, debt, Economy, Mortgage derivatives, Video + Categorized as Personal