The debt crisis cannot be solved with more debt
Ludwig von Mises Institute
by David Saied
08/11/09
The principal problem with the current economic crisis is that the authorities are trying to solve the debt crisis by adding more debt — which is akin to trying to cure a viral infection by injecting more viruses. In case some have forgotten, the United States is undergoing a serious credit crisis, that is, a debt crisis. All sectors of the American economy are suffering from a chronic addiction to credit, which manifests itself as the disease of excess debt. Household, business, and public debt have reached all-time highs...
http://mises.org/story/3615
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=economic+crisis
http://freepage.twoday.net/search?q=debt+crisis
http://freepage.twoday.net/search?q=credit+crisis
http://freepage.twoday.net/search?q=David+Saied
by David Saied
08/11/09
The principal problem with the current economic crisis is that the authorities are trying to solve the debt crisis by adding more debt — which is akin to trying to cure a viral infection by injecting more viruses. In case some have forgotten, the United States is undergoing a serious credit crisis, that is, a debt crisis. All sectors of the American economy are suffering from a chronic addiction to credit, which manifests itself as the disease of excess debt. Household, business, and public debt have reached all-time highs...
http://mises.org/story/3615
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=economic+crisis
http://freepage.twoday.net/search?q=debt+crisis
http://freepage.twoday.net/search?q=credit+crisis
http://freepage.twoday.net/search?q=David+Saied
rudkla - 12. Aug, 09:51
