When the Party’s Over

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Unless we start getting our fiscal house in order now, we will soon be at the mercy of our creditors.


omebody needs to remind President Biden about the Golden Rule — the real Golden Rule: He who has the gold makes the rules, and we are clean out of ducats.

Jim Rogers, the famous investor, offered a version of that golden rule when explaining why he decamped to the Far East and has raised his daughters speaking Mandarin: “You know where the assets are, and you know where the debts are.” President Bill Clinton, enraged at the way the financial markets constrained his grandiose ambitions, observed ruefully that in his next life he wanted to be reincarnated as the bond market


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