John wrote:In 2008, I wrote the article, "One, Two, Three ... Infinity," in which I compared to the ever-increasing government spending plans to a book by George Gamow that I read in school in the 1950s. My use of that particular phrase was to convey the idea that American debt was on an exponential growth path that would not be stopped except by a major financial collapse and crisis. The point of that article is that each bailout would fail, and the next one would have to be larger, and would achieve a smaller effect. (This is the Law of Diminishing Returns.) As the above graph shows, that exponential growth path has continued since 2008, and it will continue until there is a crisis so huge, that total financial collapse occurs.
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