4 ms·

Credit, right now it's using up and starving parts of the economy of capital. Credit is a resource in that it is a finite pool that is tapped.

• ben_w 11mo ago
  I don't have any intuition for how credit works at the scale of an entire economy; I'm willing to just take what you say on faith… but I have to, too. However, from watching public discussions about money, I think I'm a lot more clued in to how it works than most people. I get the impression most people couldn't even take what you just wrote on faith, the idea that total supply is limited rather than what any given person could get being limited only by their own creditworthiness, which means I think they'd find it really hard to care about credit running out.
  • bigbadfeline 11mo ago
    > "I don't have any intuition for how credit works at the scale of an entire economy" > "I think I'm a lot more clued in to how it works than most people." Which one is it? Can you be clued enough if you don't get the macro role of credit? > I think they'd find it really hard to care about credit running out. True, but nobody has said that's what you should try to get people to care about, it's a separate issue.
    • ben_w 11mo ago
      There's no contradiction there, it's both. "Better than most people" is a very low bar. (Also, not the macro role of credit, the fact it can run out even when everyone is individually credit-worthy).
• cindyllm 11mo ago
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