Wednesday, April 27, 2011

Too much credit was created in boom.

Too many claims via credit on real value in the economy , but not enough real value and productive activity to satisfy all the claims on it.
**
It was easy for the economic system to create credit, hard for it to create real value.
**
Value in the form of educated work force, that created goods and services that warranted the amount of credit created if that made sense.

No comments:

Post a Comment