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#1205 Cullen Roche | The Disastrous 2023 US Economy Explained
The Pomp Podcast
The Problem With Debt Creation
When you're just sending money out to people and no one's doing anything, that becomes Ponzi like in the sense that you're not creating the real resources that actually support that contract. And so I always like to say that the creation of debt is on a balance sheet level. It's the creation of an asset and a liability. There's nothing really inherently good or bad about that. It depends on how it's being used.
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