Our government-run public education system is very bad — so bad that generations of Americans educated in public schools don’t recognize idiots, economic illiterates, Ponzi schemes, frauds or Marxists when they see them. So I’m going to educate the masses with very simple examples that even a sixth-grader can understand.
Let’s compare America to your household. That makes it very simple and easy to understand.
Let’s say you make $50,000 per year, and you owe $250,000 in debt. You’re in deep trouble, right? One way or another, you are headed for bankruptcy court in the future.
Then you receive a credit line in the mail for $250,000. Are you rich? Of course not. That new credit line or credit card is not “income.” It’s a loan — to be paid back at high interest rates. You didn’t just gain $250,000. You just added $250,000 to your debt. You still make $50,000, but instead of owing $250,000 in debt, you now owe $500,000. You think you’re “saved.” Actually, you’re twice as broke as before. Insanity.