Tag Archives: bankrupt

The average professional athlete in the U.S. will make more in one season than most of us earn in our entire lives yet, despite those staggering salaries, 78% of NFL players, 60% of NBA players and a very large percentage of MLB players file for bankruptcy within five years of retirement. Let's take a look at 5 possible reasons why the average athlete is destined to go (quickly) from fame to shame.

Central banking makes it possible for the government to expand the money supply by any amount, at any time deemed necessary and once (hyper)inflation is publicly seen as being the lesser evil of all options available for the government meeting its debt service, it cannot be dismissed out of hand that (hyper)inflation would be the consequence of an unsustainable debt-to-GDP ratio.

We are being bombarded daily with breathy articles about a United States groaning under deficits that surely signal bankruptcy, Social Security checks that eventually won't clear, and of course a looming financial crisis...Much of this commentary is well written - it certainly is popular - but it is total nonsense. [Let me explain.] Words: 960