It Is Remarkable

It is remarkable that, despite all our concern over money and credit, it is so rare to find someone who notices the difference between money and the more costly credit.

It is remarkable that policymakers have done nothing to place limits on the expansion of credit, but everything to induce the greatest possible expansion of credit.

It is remarkable that the balance between the quantity of money-in-circulation and the quantity of credit-in-use has been overlooked.

It is remarkable that no one has noticed there is a limited range within which monetary balance will minimize monetary problems and maximize economic performance.

It is remarkable that policymakers have done nothing to discourage accumulation of private-sector debt.

It is remarkable that so few analysts trace our problem back to a time before 2008 or 2007 or 2006.

It is remarkable that the problem of debt in the public mind has been reduced to the problem of public debt.

It is remarkable.