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South Central NE | I have a 30 year old nephew who is a controller in the accounting department of a large Lexus dealership. Back around Christmas I seen him at a family dinner. He and I were sitting together after dinner visiting about the economy. I told him I thought we were headed for a major upheaval of some type, probably a depression because of the national and international debt situation. I said we just owe way to much money. He told me, with a straight face, that we would never have a depression again because there is just too much money in the world!! Of course, I told him it was not about the amount of money but about the confidence in money. I got nowhere in the 45 minutes we talked. Keep in mind this kid has a Masters Degree in accounting. But, his mind set is very illustrative of a lot of the 20 and 30 somethings. And, by the way, he is a political conservative! I know I did not answer your specific question but I just think it does show how we have gotten to where we are. Thanks...
Edited by Irrigate NE 2/24/2015 06:24
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Next economic question. WHY is debt so prevalent throughout the world today?
