Credit Intoxication

Jan 14, 2008 Published under Economics, Latin America, United States

My friend Martin Varsavsky wrote an insightful note on the dangers of credit abuse, on America’s over-reliance on credit to shore up the global economy, and the lessons that we can draw from Argentina’s experience.

For years I have been anxious about the excesses of consumerism in America, for both their economic and social implications.  Credit abuse has created phantom prosperity which is now just beginning to catch up with us.

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