When you borrow money and spend it, you are using credit. But the person that you pay receives money, not credit. (They don't have to pay interest on it; you do.) And after you spend it, you don't have that money anymore; you owe it. You have the debt.
Subscribe to:
Post Comments (Atom)
-
Went to Harbor Freight the other day. When I left, there was so much traffic I had to fight my way out of the parking lot -- at one p.m. on ... -
I've been hearing the phrase "late capitalism" for so long that I'm forced to conclude that the very concept of late cap...
-
I'm not a fan of "diagrams" in economics, but sometimes... This is a screen capture of slide 36 from a SlideShare presentatio... -
As I write this it is mid-October in an even-numbered year. Elections are weeks away. Yesterday, I saw Republican candidates heavily adver...
-
JW Mason : "... in retrospect it is clear that we should have been talking about big new public spending programs to boost demand....
No comments:
Post a Comment