by Summary:
Preventing Economic Disaster: The Shocking Truth
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Preventing Economic Disaster: The Shocking Truth
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Preventing Economic Disaster: The Shocking Truth |
What do you think about this? Responding to the best comments.
I don't get it.
Credit does not only have an interest rate but also a credit period, which makes interest to be a fixed sum.
And of course deflation makes it harder and at some point impossible to repay the debt. But mainly because credit plus interest is a fixed sum.
But the main problem is because debt means to buy first and sell later. Falling prices do mean you buy at a high price and sell at a low price.
So the main problem is the lack of a time machine.