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Nobody Understands Debt

FEB. 9, 2015
Paul Krugman

Many economists, including Janet Yellen, view global economic troubles since 2008 largely as a story about “deleveraging” — a simultaneous attempt by debtors almost everywhere to reduce their liabilities. Why is deleveraging a problem? Because my spending is your income, and your spending is my income, so if everyone slashes spending at the same time, incomes go down around the world...........

http://www.nytimes.com/2015/02/09/opinio....html?_r=0
i think the World Economy runs on debts more then anything else. If everyone don't want to lend because don't know who(borrower) to trust, then 2008/2009 may happens again. Capital moving as debt is so much more important (larger) than equity.
Will oil prices collapse, trigger bond market reaction(perhap chaos) or even collapse.
Capitalism has become creditism.