“The ‘crisis’ (or ‘credit crunch’) arrives when the consumers come to reestablish their desired allocation of saving and consumption at prevailing interest rates. The ‘recession’ or ‘depression’ is actually the process by which the economy adjusts to the wastes and errors of the monetary boom, and reestablishes efficient service of sustainable consumer desires … Continually expanding bank credit can keep the artificial credit-fueled boom alive (with the help of successively lower interest rates from the central bank). This postpones the ‘day of reckoning’ and defers the collapse of unsustainably inflated asset prices … The monetary boom ends when bank credit expansion finally stops – when no further investments can be found which provide adequate returns for speculative borrowers at prevailing interest rates. The longer the ‘false’ monetary boom goes on, the bigger and more speculative the borrowing, the more wasteful the errors committed and the longer and more severe will be the necessary bankruptcies, foreclosures, and depression readjustment.”

We Had To Set This All-Time Record Before The Devastating Global Collapse

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