Here's the Question, from Richard Russell


NOVEMBER 07, 2007


There's a problem, and it's a doozie.
Maybe it's just as much a question as a problem. Here's the question -- "Can you run a great empire on borrowed money?" My answer -- you can for a while, but only for a while. Eventually, something's got to give. The "give" will come in the nation's currency, in its standard of living -- or in the demise of the empire itself. It happened in Rome, it happened in Britain, and I'm very much afraid it's going to happen to the United States. The big question, of course, is the timing.

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