Sunday, January 6, 2013

I Miss Nixon

No, not me. Catchy name though, isn't it?

On the About page of David Glasner's Uneasy Money, some months back now, in the wee hours of the morning, I Miss Nixon quoted Glasner

what Hawtrey called “the inherent instability of credit”

and responded

you do not discuss the role of the level of private debt in either the Great Depression or the Lesser Depression, yet these words of Hawtrey are right to the point.

Amen, Nix.

In case you missed it: Private debt.

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