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Ponzi Scheme
 Michael Hudson Archives
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Ponzi Scheme

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Wealth Creation, or a Ponzi Scheme?
• December 23, 2008
• 3,600 Words • Leave a Comment
GlobalResearch Last week the Good Lord evidently realized that not enough people had been reading Hyman Minsky’s explanation of how financial cycles end in Ponzi schemes – the stage in which banks keep the boom going by lending their customers the money to pay interest and thus avoid default. So He sent Bernie Madoff to... Read More
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