When it feels like the world is on your shoulders
And all of the madness has got you going crazy
--DeBarge
Peter Atwater wonders if the IMF represents the last lifeguard. Whether we're talking about $500, $2 trillion, or even $10 trillion (rumored) in lending capacity, we are still talking about laying more debt on top of a debt problem.
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1 comment:
Credit expansion is the governments foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous.
~Ludwig von Mises
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