Generation Bubble

Abiding Interest: Utopian Visions and the Mortgaged Future

With the economy financialized to its current extent there’s a lot of interest to be paid. How does the economy grow, then, and where does it grow? Experts say the United States is headed for a situation where its current debt will soon equal the sum total of its gross domestic product: one dollar owed for every one dollar earned. If this isn’t a murrain on the sheep or rust on the needle, I don’t know what is.