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Free Minds & Free Markets

We're So Screwed When the Bubble Bursts: New at Reason

"If something cannot go on forever," the economist Herbert Stein famously wrote, "it will stop." Take a look around, and all you see are a bunch of economic indicators reaching near-forever status—the longest stock market bull run since World War II, the second-longest economic expansion, record levels of consumer debt, and so on. And because of flagrant irresponsibility by both individuals and governments, Matt Welch argues, we are woefully unprepared to deal with the wreckage when that day of reckoning inevitably comes.

Photo Credit: Wells Fargo

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