Credit Expansion

Posted: March 5, 2015 in Uncategorized
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“Adding credit to the system, rather than cash, is how Wall Street got rich. It sold credit!… And it is why the rich got richer, too: they were creditworthy!… All the plain people could do was borrow money to buy a car, or if they couldn’t find a job, get a student loan. They could go deeper in debt. But, they couldn’t benefit from a rise in asset prices – because they didn’t have any assets.” -Bill Bonner

Don’t blame the rich, they didn’t create the system; blame those that created the system.

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