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I recently read a great book called "The Price of Tomorrow" - Jeff Booth. The author discusses how credit and debt is the main driver of growth over the last 20
by hourislate 6y ago
I recently read a great book called "The Price of Tomorrow" - Jeff Booth. The author discusses how credit and debt is the main driver of growth over the last 20 years (Inflationary) because technology is deflationary and as it exponentially increases so does deflation. Governments who are terrified of deflation and dependent on a system that encourages incessant growth and higher prices, can only maintain that growth through credit and debt (inflation). Considering that almost every country in the world is participating in uncontrolled borrowing and spending, it's going to get very interesting.
An quick and interesting read...would recommend.
- JumpCrisscross 6y ago> Governments who are terrified of deflation and dependent on a system that encourages incessant growth and higher prices, can only maintain that growth through credit and debt (inflation) Money is cash and credit. The government has been printing cash for a decade. You don’t need, and we haven’t only had, debt.
- hahahahe 6y agoInnovation is always inflationary.