Dr. David Phelps, noted financial expert, says, “For a lot of people, we seem to be entering unprecedented times, but some of us have been through a few boom and bust cycles, so we’ve seen this before. There are a lot of similarities between today and the early stages of the 1970s stagflation period.” He says there’s definitely a role for debt even in the worst of economies, but the key is to use it strategically. He says that borrowed capital should only be invested into things that are as sure of a bet as possible.
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