“This Chilling Economic Report Is Getting Passed Around By CEOs.”
by Jonathon M. Seidl, TheBlaze.com:
That’s the headline greeting readers on the site Business Insider Christmas morning. The report from the Boston Consulting Group (BCG) is titled, “Ending the Era of Ponzi Finance: Ten Steps Developed Economies Must Take.”
“The biggest [Ponzi scheme] … is still ongoing: the Ponzi scheme of the developed economies,” the report says near the beginning. “It is not simply that the developed world has borrowed significantly from future wealth to fund today’s consumption, leading to huge burdens for the next generation. It has also reduced the potential for future economic growth, making it more difficult for the next generation to deal with this legacy.”
That’s heavy. And it only gets heavier from there. So we’ve decided to distill it down to the best takeaways from the report and the write-up on Business Insider since BCG requires you to sign up to read it (it’s free, but still we thought some of you might not want to).