Mises made a distinction between credit that is backed by savings, and credit that is not. The second type plays a key role in the boom-bust cycle, says Frank Shostak.
2:00 pm on November 17, 2016 Email Ryan McMakenThere Are Two Types of Credit — One of Them Leads to Booms and Busts
https://www.lewrockwell.com/lrc-blog/two-types-credit-one-leads-booms-busts/
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