consumers debt

17 Apr

How Debt Saved Capitalism — Temporarily

By Walter

All this bad-mouthing of debt is downright ungrateful. The criticism of individuals and governments who can’t seem to live within their means ignores the fact that if they had not gone into debt the economy would have ground to a halt a long time ago. It’s debt that keeps the capitalist Ponzi scheme going. As long as the Federal Reserve continues to pump money (and debt) into the economy, collapse will be avoided until …

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