Understanding the history of credit cycles, and how breaking points typically resolve, offers a heads up on present times. I wrote about credit history in our July 2018 client letter which is available here. Human behaviour around money and credit are timeless.
In this post we discuss debt in the current context, and consider where the very high levels of debt will take us. And as importantly, who wins and who loses.
Michael Hudson is an American economist, Professor of Economics, Author of Killing the Host and “and forgive them their debts,” among many earlier books. Here is a direct video link.
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