Ray Dalio’s book on what’s upcoming for the US economy.
Money and Credit are the blood flowing through the arteries of our economy. When there’s productive capacity that can be absorbed, money and credit can and should increase for the benefit of everyone without inflation.
Banks essentially create money (not cash money, but M2 money supply) by multiplying existing money to turn it into credit and debit. Instead of just printing money indiscriminately, this sets limits on what credit can be used for, because it will have to be paid off. There are periodically cycles when credit / debt grow - first productively, then non productively, until debtors cannot pay off creditors. This is the short debt cycle.
Central Banks and Governments step in at the final stage of the short debt cycle to restructure debt and print money to prevent deflation. However, the net effect of this is addition to the Central Government’s debt - eventually this gets to unsustainable levels and must be dealt with.