The Short-Term Debt Cycle

Most people see it as I can afford to take on this debt therefore I can afford this thing. Most of the borrowing that occurs isn't used productively but actually starts to be used for consumption, which doesn't increase your future income. That's kind of when people think of you know the short-term debt cycle can be thought of as like the business cycle right? People really don't understand all the intricacies of economics and yada yada so we're going to talk about more here at the macro level yeah.