Borrow: the America way of debt

Introduction: everything old is new again

When personal debt was really business debt (2000 BC-1920 AD)

Everybody paid cash for the Model T (1908-1929)

Fannie Mae can save America (1924-1939)

How I learned to stop worrying and love the debt (1945-1960)

Discounted goods and distributed credit (1959-1970)

Bringing good things to life (1970-1985)

If only the gnomes had known (1968-1986)

The house of credit cards (1986-2008)

Conclusion: turning the magic of borrowing into the reality of prosperity.