Friday, July 08, 2016

Bill Gross* To Central Banks:
Take A Lesson In Credit From Monopoly
Gross has a message for Janet Yellen: Take a lesson from monopoly .. Gross likens the economy to the board game where players collect $200 every time they pass the “Go” square. That payment -- the game’s version of credit creation -- ensures expansion at the start, but it also dooms players because the amount is fixed & doesn’t grow, eventually leading to stagnation & bankruptcies ..

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