With so many people so heavily indebted, is recovery even possible?

Quote from dewton:

it's not possible for us to get out of debt because debt = money. if there was no debt, there would be no money.

we have problems with our economy now because money has become scarce, and there isn't enough money in circulation to service debt. when people/companies can't capture enough money in our economy to service debt, bankruptcies occur and companies close down.

the immediate solution of course is to increase the money supply so debt can be serviced. and there's no way to increase money supply without printing money and therefore going further into debt. this would be our "recovery".
More...
Debt=money?
Initially this appeared to be true but, ultimately, this was proved false.

An economy that may run forever on debt, was a big lie.
 
Quote from crgarcia:

Debt=money?
Initially this appeared to be true but, ultimately, this was proved false.

An economy that may run forever on debt, was a big lie.
More...

And I believe it has hit its end. Interesting times are still ahead of us as banks find themselves none to give debt/money to.

As for you my friends try bankruptcy. It is the fastest way to freedom and to ensure you will not fall into debt again.
 
People complicate things so.

The U.S. isn't an industrial powerhouse, relatively speaking anymore, has a deficit to GDP ratio of at least 13%, which is atrocious, has accumulated debt of at least 64 trillion, and has 19% of its workforce population unemployed (and growing).

Without a major turn of events, things will continue to worsen dramatically.
 
You must log in or register to reply here.
Back
Top