We Are Soooooo-uh... Cooked.Submitted by jetguy on Thu, 07/26/2012 - 18:22
"When we broke the link between money and gold,
this removed all constraints on credit creation.
This explosion of credit created the world we live in,
but it now seems that credit cannot expand
any further because the private sector is incapable
of repaying the debt it has already, and if credit
begins to contract, there's a very real danger that
we will collapse into a new Great Depression."
~ Richard Duncan