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posted by ben on 10.11.30 at 15:16, null, null, ben tries to beat Livermore, Leave a comment Permalink

...debt will almost always rise relative to incomes so long as we have an ever increasing division of labor and specialization of tasks, increasing productivity, and a consequent rise in both assets and liabilities as a percentage of income.

-Alan Greenspan, The Age of Turbulence, pg 347

From a micro perspective, does this lead to a self reinforcing cycle where wealthy individual have the ability to take on more debt and thus receive greater benefit? ...makes me think of Ahead of the Curve and the suggestion to take on as much leverage as possible with good terms.

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