Last weekend I judged a round of mock-congressional debate at a high school tournament. Teens argued for and against various proposals they’d written, one being a bill to eliminate the debt ceiling.
One young man gave a speech for it. Then a young woman asked him if this measure might not result in catastrophic debt accumulation.
“I don’t think our politicians would be that stupid,” he said.
A few minutes later she gave a speech, against the measure. Directly referring to the boy who’d spoken before her, she said, “Our national debt is already 17 trillion dollars. Don’t you think that’s stupid?”
Right at the beginning of this year, there was a video going around that stirred a bit of controversy. A financial analyst named Porter Stansberry made an hour long lecture-style video called “The End of America,” by which he meant that we would lose our financial dominance and quality of life, not that the country would cease to exist.
Many people pointed out that Stansberry has been investigated and sued before, and that the video is ultimately an ad for his products. But neither of those things proves that he’s wrong. In fact, I already knew most of the information in his video, but I did learn quite a bit. What most impressed me is the way he collated the facts and used them to present his case–the logical order of the argument’s arrangement is very well done.
It’s a long video, and slow paced, but if you’re interested in the economy, it’s worth it. Still, here’s a spoiler: ultimately, Stansberry’s specific prediction is that Continue reading