Credit, Assets and Wealth

Credit is present in almost all exchanges, if all exchanges including daily work payroll and all merchant transactions are considered...  sometimes, though, we slap down a fiver when we need a cup of coffee fast, and thus extinguishing debt...

The big game the last fifty years was to move all commerce over to usury-mulcted, and then blow up the credit balloon to ever more whimsical allocations... that is over.

Now we will have the spectacle, since the game ended about three months ago, of the vast majority of impoverished Americans, who believe themselves wealthy,  as defined as accumulation of titles, and damned well entitled to it, fighting over the trace productive capacity of usa that is to fund their claims.  God willing this takes 40 years and no one decides to change the topic with a world war.  But regardless the true economy will become exponentially more valuable as prices on everything drops.

Wealth, correctly defined as access to the widest range of goods and services at affordable prices, will be the domain of the insignificant small business operator working in the true economy, being built by those practicing in the true economy.  The only credit in this will be in microscopic amounts and always asset-backed, with no-interest.  No more bad EZ credit acting like a virus sickening the body economic.

"I am entitled because I am wealthy, look at all my titles (house title, car title, education title, pension title, portfolio title, etc...) therefore I deserve a larger share of the rents from the income stream."  As all those assets steadily decline in price, as so little (bad) credit begins chasing so much misallocation, the body politic will convulse with eruptions in claims and counter claims.

Now, one need not endure that.  By shifting from false economy to true economy, and simply abandoning any false economy claims, and begin building a true economy, one can ride out the coming years and have access to the widest range of goods and services.

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