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A Recipe for Disaster (Richard Duncan)

The term ‘Creditism’ to describes an economic system driven by credit creation and consumption, in contrast to Capitalism, which was driven by investment and savings. Creditism replaced Capitalism when money ceased to be backed by gold nearly five decades ago. But Creditism requires Credit growth to survive. The evidence presented in this video suggests that Creditism is in crisis globally because Credit is no longer increasing fast enough to drive global growth, even with record low interest rates. It is not possible to understand the global economic crisis without taking account of the exhaustion of Creditism.


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About V

V has been observing markets with a suspicious eye for decades. Years ago he said so-long to finance in pursuit of something far beyond capital gains.