The only aspect of credit that isn't a good thing is the hidden inflation of the money supply caused by fractional reserve banking, which is going right into the pockets of bankers at the expense of everyone else. Credit ought to be lent by people who have money to lend.
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This is a side discussion from the main thrust. My contention is that we should not be using fiat currency at all and nobody should have the power to futz with interest rates. They should find a place that the market can bear on their own.
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I'm going to quibble on inflation. Consumer price inflation is low, but asset price inflation is high. This is an expected consequence of modern forms of QE, as opposed to old style turn-on-the-press.
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