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| User Info | Are defaults really deflationary?; entered at 2012-04-15 08:07:37 | |||
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Flappingeagle Posts: 1229 Registered: 2011-04-14 
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I believe Karl uses the term "self-liquidating business credit" for part of this. It too is credit and yes it to can cause defaults/problems but, they tend to be minor in size and are usually backed with a purchased item that can be recovered. Our financialized economy has credit sprayed all over the place and much of it is backed by an inability to pay. So, the extend and pretend games keep rolling. Flap 2012-04-15 08:07:37
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