Over the last 5,000 years, what has made the concept of debt so strangely powerful?
If — or is it already when — the current crisis ends with the United States of America fiscally and monetarily bankrupt, the idea of a full-blown depression becomes all too real.
An unprecedented economic policy response to an extreme medical emergency.
In every culture, low interest rates impact the fabric of society and mindsets in distinct ways. Each country thus develops its unique manifestation of nihilism.
Interest rates are the mechanism by which risk links the world of economics and society.
Negative interest rates have a pernicious effect on human beings. They corrode the structures of society, culture and people’s mindsets, triggering widespread resignation and even nihilism.
We now witness the marks of the inverted universe of ultra-loose monetary policy and lax central banking.
The Fed’s current interest rate increases are to tamp down the possibly very dangerous effects of fiscal recklessness during a time of a booming U.S. economy.