By David Scott | Monday 6 August 2018
Flooding an economy with cheap, limitless credit inevitably leads to systemic excesses of leverage, risk and debt, and a systemic reliance on marginal borrowers and lenders for "growth" - a credit-based "growth" which is destabilizing and unsustainable. The boom turns to bust and asset bubbles pop, laying waste to fortunes and the confidence that bubble-based prosperity is our endless birth right.
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