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  • Harvard Lobotomies And The Disgrace Of The Economics Profession

    11/25/2010 9:06:54 PM PST · by Pride_of_the_Bluegrass · 31 replies
    Zero Hedge ^ | Damon Vrabel
    Let me say that again. ALL MONEY COMES FROM DEBT (for those of us who suffered the most indoctrination by attending schools like Harvard, let's pause here for a moment so we can catch up to the rest of the class). This means in order for governments, businesses, and people to have the liquidity necessary to live, they must agree to sign over a claim on their assets to banks. As the banking system inflates over time passing out credit, which makes everyone feel good with more digits in their accounts, it gathers claims on all the assets in the...