Unbiased Analysis of Today's Healthcare Issues

How important is credit?

Written By: Jason Shafrin - Dec• 22•08

“Adequate credit is to trade what altitude is to aircraft; without it, the odds of coming to grief over preilous commercial terrain are great.  All merchant enterprises sooner or later lose cargoes or encounter soft markets.  Without ample capital reserves and the ability to borrow at low rates of interest, bankruptcy is inevitable.”

~ William Bernstein (2008) on the importance of credit to the East India Company, in A Splendid Exchange.

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