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Credit Expansion's Impact on Economy
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Credit Expansion's Impact on Economy
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Steve Keen considers the following as important:
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| Credit Expansion's Impact on Economy |
Private debt is always the danger not National debt.
Money creation is the fact, and the purpose is intended to be a direct connection between perceptions and actions that consume the value intended for the exchange/transaction.
If the intended value created is redirected away from the purpose, of course the difference drives boom/bust cycles because the abuser of the designed intentions causes chaos by default, it's exactly out of sync with the economic values.