A dear friend, a banker, sent me this quotation by Thomas Jefferson. My friend fears the economy may never recover because of government debt. He is thrilled with any indicator of economic recover. For example, there are some bright spots in the Denver economy, in that businesses seem to be ‘optimistic,’ whatever that means.
I see a lot of houses for sale as a drive through the Denver area and a lot of empty stores.
Jefferson’s foreshadowing of wretchedness and oppression worry me far more than a rise in prices.
“To preserve independence…we must not let our rulers load us with perpetual debt. We must make our election between economy and Liberty, or profusion and servitude. … The fore horse of this frightful team is public debt. Taxation follow that, and in its turn wretchedness and oppression.”