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2011-01-24 — blogspot.com
At 6% per year credit expansion, credit is up 50% in 8 years, 100% in 13 years, and 200% in 20 years. Did after-tax wages go up by 50% in the last 8 years? Did after-tax wages go up 100% in the last 13 years? We all know the answer to those questions. A long read but very good; with both Mish and Keen demolishing the World Economic Forum's ridiculous call for a massive increase in global credit (more poison is needed for what ails us, apparently). source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |