By the way...an interesting article from the Daily Reckoning....
*** Right around the same time we sent copies of Empire of Debt to the
Senate and members of the House, David Walker, the Comptroller General of
the United States, gave a speech comparing America to an empire of its way
to ruin.
More recently, he gave a speech at the London School of Economics,
saying:
"In my view, the greatest threat to America's future isn't a new
superpower or even persons hiding in a cave somewhere in Afghanistan or
Pakistan. Instead, this threat is widespread, involving U.S. policymakers,
the public, and even the press. What I'm talking about is a decline in
societal values and political comity, combined with continuing ignorance
and inaction on a range of known issues that are rapidly reshaping the
United States and the world. I'm talking about known forces like changing
demographics and global economic trends that are having an impact on a
scale not seen since the Industrial Revolution. Unfortunately, these and
other current and emerging challenges are getting too little attention,
provoking too little concern, and prompting too little action.
"Today in America, both policymakers and the public need to face the
facts, take a long-term perspective, and accept the need for dramatic
reform and some shared sacrifice. After all, when our days on this earth
are nearing an end, we should be able to look our children and our
grandchildren in the eye and say we did everything we could to pass on a
community, a country, and a world that's better off and better positioned
for their future."
Perhaps we'll hear some more from the Honorable David Walker in the Empire
of Debt documentary...look for more on our endeavors into the world of
film in the DR Weekend Edition. In the meantime, you can read the rest of
his speech on our site:
America's Fiscal Future
http://www.dailyreckoning.com/AmericasFiscalFuture.html