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No Return to Normal - it's Payback Time | 51 comments (51 topical, editorial, 0 hidden)
Re: No Return to Normal - it's Payback Time (none / 0)
das monde:
The amount of credit extended recently is staggering - but all for non-synergetic "investments" into bubles.
That wasn't credit, it was counterfeit money creation.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Mon Mar 23rd, 2009 at 05:36:10 AM EST
[ Parent ]
Re: No Return to Normal - it's Payback Time (none / 1)
That's how the monetary system works legally. Claims on debt and compounded interest are real.
by das monde on Mon Mar 23rd, 2009 at 08:05:49 AM EST
[ Parent ]

No Return to Normal - it's Payback Time | 51 comments (51 topical, 0 editorial, 0 hidden)
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