QM009 - A Debt Based Economy
Debt is a natural part of any economy. Debt and credit gives individuals and businesses access to capital so that they can invest in themselves and expand. This encourages growth and innovation.
But the debt in the U.S. has been growing over the last 50 years and debt growth has been near exponential over the last 15. The economy has adapted to this in turn. We are now in a place where the economy needs an ever increasing amount of debt to survive. It’s worth discussing exactly how this works.
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