The single most important thing to understand about economics in the age of paper money is that credit growth drives economic growth. Before the breakdown
Richard Duncan
Recent Posts by Richard Duncan
Since the beginning of the Industrial Revolution, every economic boom has been followed by an economic bust. The bigger the boom, the bigger the bust.
Once US dollars ceased to be convertible into gold at the beginning of the 1970s, there was no longer any constraint on the amount of
Since the 1980s, a culture of debt has arisen in the United States. That change was the consequence of a misguided trade policy that gave
Starting in the 1970s, international credit flows began to destabilize the global economy. One country after another was plunged into crisis as dollar-denominated credit from