http://www.chrismartenson.com/crashcourse/chapter-12-debt
1.Key Concept #6 is Debt is a claim on future human labor.
2.Per capita debt has never been higher. We are in truly unprecedented territory in this country.
3.Debt has increased by $16 trillion in the past five years, and most of it consumptive debt. Meaning that future consumption will have to be seriously curtailed, or we’ll enter a period of debt destruction, either by defaults or inflation.
4.And finally, Key Concept #7: Our debt markets assume that the future will be much larger than the present.
1.Key Concept #6 is Debt is a claim on future human labor.
2.Per capita debt has never been higher. We are in truly unprecedented territory in this country.
3.Debt has increased by $16 trillion in the past five years, and most of it consumptive debt. Meaning that future consumption will have to be seriously curtailed, or we’ll enter a period of debt destruction, either by defaults or inflation.
4.And finally, Key Concept #7: Our debt markets assume that the future will be much larger than the present.
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