Friday, May 25, 2012

Junkie´s economy

Much has been talk of the causes of the crisis being the ease of lending by financial institutions one of the reasons adduced to explain more.

However true, so is that nobody forced to sign a mortgage. We have experienced a time when society in general has acted as a junkie and the financial system as a drug dealer. Going the distance, I think the picture is appropriate because the loss of purchasing power has been offset by increased access to credit which has allowed high rates of consumption. This consumption obviously has fallen when the pusher has stopped supplying the drug, in this case the easy money and cheap.

In the underworld of drugs, the addict ends badly or in a detoxification clinic to remove the dependency, the pusher ends, at least in the movies, bad or in jail.

Perhaps this is where the script away in real life, in our case the narco gets away with millions of euros in compensation and a new job waiting just around the corner.

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