Sunday, July 17, 2016

Debt Is A 
'Financially-Enhanced Drug'
"Dr. Lacy Hunt has been featured more than any outside speaker at our IES conferences. Why? Because he’s the only classical economist I fully admire and he is a successful bond investment manager in the real world that understands the trend towards deflation, despite unprecedented money-printing .. There is no other cure for excessive use of financial drugs, and that is what excessive use of debt is – plain and simple. Debt is a financially-enhanced drug that has major costs down the road .. It’s like detox for heroin addicts. It is ugly, but it purges the system of the drug and allows it to be healthy and grow again. There is no easy way around that once you are highly addicted and toxic from it. And we are witnessing the greatest debt and financial asset bubble since the early 1970s, more so than 2000! .. Lacy is a classical, Austrian economist that totally gets how debt and financial bubbles build and how they deleverage and burst .. Deflation is the only trend for the next several years."
- Harry Dent
LINK HERE to the essay

1 comment:

Anonymous said...

Chinese tourists caught smuggling gold bars worth £2.3 million under their trousers and skirts