That's growth, but only growth of debt (which is only achieved by an increase in borrowing). Which increases the inability to repay longer term debt by increasing interest rates. Which increases the inability to repay earlier primary debt. It also makes for very happy bankers. I nearly misspelled that. Then, ultimately, given the huge numbers who borrow, sow the seeds of the eventual crash. Q.E.D.
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member no. 235
Last edited by wraymond; 19th May 2022 at 08:02..
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