Brilliant Historical Charts and Discussion of Debt and Fractional Reserve Banking

Following is a wonderful conversation between financial journalist Kate Welling and economist Lacy Hunt. Some of you might find this interesting.

It contains two things of note:

a)  important historical charts going back to the 1870s showing long term fluctuations in debt (and other phenomena like the velocity of money);

b) a great discussion of why old-time economists like Fisher, Minsky and Kildleberger (now ignored or rejected by contemporary economists) were against fractional reserve banking.