Monthly Archives: April 2012

We Spent Our Children’s Birthright Through Foolish Borrowing

Endgame the End of the Debt Supercycle and How It Changes Everything, John Mauldin and Jonathan Tepper, John Wiley & Sons, Inc., New Jersey, $27.95, 2011, 318 pages.

American Gridlock Why the Right and Left Are Both Wrong, H. Woody Brock, John Wiley & Sons, Inc., New Jersey, $27.95, 2012, 273 pages.

In Charles Dickens’ novel David Copperfield, Mr. Micawber identifies an essential difference between happiness and misery.

“Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”

Two recent books consider the muddle politicians, bankers and economists have made of the world’s finances, during which the Micawber doctrine sadly got forgotten. They focus on the debt burden we have strapped on to the backs of coming generations and tackle the inability of current political systems to confront the ensuing mess.

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