How Economies Collapse: Systemic Friction and Debt Are Self-Liquidating

How Economies Collapse: Systemic Friction and Debt Are Self-Liquidating (OfTwoMinds, Aug 4, 2014):

Paying for unproductive friction with borrowed money has generated the illusion that free to me is actually free–it isn’t.

We will discover, to our detriment, that friction and debt are both self-liquidating:that is, they bring about their own liquidation via systemic collapse.

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