Richard Duncan and Macro Economics
Money Tree Investing
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Credit Isn't Expanding Until We Have a Depression
Capitalism was something that happened in the nineteenth century, let's say, or the first half of the twentieth century. Economic growth under capitalism was driven by investment and savings ness. As long as credit expands, then the economy grows. But if credit stops expanding, we have a recession. If it starts to contract, the way it started to in two thousand eight, if credit contracts, we will have a depression.
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