– How Economies Collapse: Systemic Friction and Debt Are Self-Liquidating (OfTwoMinds, Aug 4, 2014):
Paying for unproductive friction with borrowed money has generated the illusion that free to me is actually free–it isn’t.
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We will discover, to our detriment, that friction and debt are both self-liquidating:that is, they bring about their own liquidation via systemic collapse.