A nation that encourages its people to spend more and save less promotes economic backwardness, social decay and its own financial doom.

Consumption never creates wealth.

A nation that encourages its people to spend more and save less promotes economic backwardness, social decay and its own financial doom.

The key reason why we are richer than our ancestors is that these ancestors have bequeathed us buildings, factories and machines that have given us a high living standard to start with. Driven by irresponsible policy makers, America's present generation is consuming the nation's capital.