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When will the love affair with credit end?

ElliotWave.com's Robert Prechter has an answer




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The fuel that pumps the bubble

More info: ElliotWave.com

Without a love of credit and a total lack of fear of taking it on bubbles cannot exist.

Clearly, in the last 30+ years the world has had a mad love affair with credit.

Like all love affairs, this won can't and won't last forever and here's a reminder of what must follow a book brought about by credit mania.

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
- Ludwig von Mises (1881-1973)


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