Old and In Debt:
Goldman Sachs Asset Management is warning of a looming debt crisis spurred on by aging populations. As seen on the chart below, government debt levels are very high.
Meanwhile in China:
CNN Money: A new billionaire was created almost every week in China in the first quarter of 2015, according to a report by UBS and PricewaterhouseCoopers.
Quotable:
“A man in debt is so far a slave.” – Ralph Waldo Emerson
“Blessed are the young for they shall inherit the national debt.” – Herbert Hoover
“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.” – Alan Greenspan
“Let every man, every corporation, and especially let every village, town, and city, every county and State, get out of debt and keep out of debt. It is the debtor that is ruined by hard times.” – Rutherford B. Hayes
