1.

The trouble they see in the future is that for Squanders to both and have to pay
off the debt they are starting to pile up which will down the road force them to work
more than eight hours a day. The Squanders also have nothing to trade for while
also working the additional 8 hours day
2. It was that we operated in the industrious Thriftvlle style, meaning we regularly
sold more abroad than purchased. We not currently invested our surplus abroad
with the result that our net investment that is, our holdings of the foreign assets are
less foreign holdings of United States assets increased.
3. The Net investment now is that our holdings of foreign assets are less foreign
holdings of United States assets increased from $37 billion dollars in 1950 to $68
billion dollars in 1970. Which means our net worth consisted of all the wealth within
our borders plus modest portion of the wealth of the rest of the world.