Talk of a 'new great depression' goes mainstream - DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate

**Inenuedbabnor** · 07-16-2012, 10:59 PM

“When we broke the link between money and gold, this removed all constraints on credit creation. This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there’s a very real danger that we will collapse into a new Great Depression,” http://www.cnbc.com/id/48193471

07-16-2012, 10:59 PM	#1
Inenuedbabnor Join Date Nov 2005 Posts 411 Senior Member	Talk of a 'new great depression' goes mainstream “When we broke the link between money and gold, this removed all constraints on credit creation. This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there’s a very real danger that we will collapse into a new Great Depression,” http://www.cnbc.com/id/48193471 Share Share this post on Digg Del.icio.us Technorati Twitter
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