4 ms·
the cascade to zero percent is this crazy farce of excessively consolidated capital not knowing what to do with itself. it's the antithesis of efficient allocat
by clairity 6y ago
the cascade to zero percent is this crazy farce of excessively consolidated capital not knowing what to do with itself. it's the antithesis of efficient allocation.
bankers create products for timid capital to pool in safe harbors. risk arbiters, like moody's, have been pressured into rating that risk down. then interest rates drop "rationally" because risk is "lower". except it's not lower and interest rates should rather never dropped at all.
we can't arbitrarily raise interest rates until we fix the systemic tilt of the economic system toward the wealthy who are increasingly risk averse because they can afford to be that way and still earn excess returns.