Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Jerome a Paris:
A business borrows 1000 dollars from the bank to get started. In ten years, say, it is supposed to pay back 2000 to the bank. Where does the other 1000 come from?

from renewable resources?

well husbanded, good farmland can render....how much?

i think it's symptomatic of mental illness to assume that wealth only springs at the mercy of credit shuffling.

i understand natural renewable resources are nonlinear in growth so credit can smooth out bumper/bust cycles, like savings can too, but this accent on finance while ignoring where root wealth is stored and produced is like making the icing into the whole cake, isn't it?

maybe a message from this is to distrust any scheme that scheme that aims to profit more than a 'conservative' 4% or so. (what nature can back up, iow.)

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Sun Mar 22nd, 2009 at 10:42:58 AM EST
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