Tuesday, May 13, 2008
300 year debt bubble ready to burst
Capital markets built on credit and debt need to continually expand in order to service previously created compounding levels of debt. When only England was on a credit-based system, as long as England 's empire expanded its increasing debts could be absorbed; but when England 's expansion slowed, so too did its economy. The conundrum of the necessity of continual economic expansion is now being played out on a global scale. Now, the entire world is based on England 's debt-based central banking system; and, consequently, unless the world economy continues to expand, the commensurate expanding edifice of global debt will collapse.