The American Economy Credit or Bust free essay sample

A look at how the creation of credit in the U.S. economy has been hugely compounded over time and why credit is the defining aspect of our financial system. Looking coursework writing service? Go to page essaylab.com/coursework-writing-service This paper explores the aspect of credit in Americas financial system and traces the path of credit from its origins. The author examines how the creation of credit in Americas economy has been greatly compounded over time and, now hugely prevalent, credit is the defining aspect of the national financial system. Today credit is more prevalent then ever before. Over three quarters of the American adult population have and use at least one credit card. However, along with this heavy reliance on credit comes a definite risk. Even as early as 1791 this threat was realized, the bank made a large impression on the economy within months of opening its doors in late 1791. We will write a custom essay sample on The American Economy: Credit or Bust or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Initially it flooded the market with its notes and credits, and then, in February 1792, it sharply reversed course and curtailed credit.