According to Ludwig von Mises, the boom of the “Roaring Twenties” was the result of the US Federal Reserve Bank and its policy of easy credit. When it became obvious that the economic boom was built on sand, the economy crumbled.
We often hear about the national debt and the staggering amount of money it represents. But it’s not like we get a bill for it. We don’t directly pay our country’s debts, so the number doesn’t really hit home for us. That begs the question, how does your country’s debt actually impact you?