And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
Paul Blusteinamazon.com
And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
When Paul Volcker became the chairman of the US Federal Reserve in 1979, after years of the United States being unable to control its worsening inflation problems, he proceeded to sharply increase interest rates to approximately 20%, which is associated with finally quelling inflation. The inflation-adjusted yield on bank accounts was very high at
... See moreLyn Alden • Economic Japanification: Not What You Think
Brazil was forced to reschedule its foreign debts in 1983, lost access to international capital markets for several years, and for nearly two decades struggled with its external accounts. Every time the economy grew, it had to import more. In turn, this increased the trade gap, depressing the local currency, increasing the prices of imported goods
... See moreRichard Lapper • Beef, Bible and bullets: Brazil in the age of Bolsonaro
In 2008, it all came apart. After September, once Lehman Brothers went under, global lending froze, which in turn sent global production and stock markets into free fall. The Fed, Congress, and the U.S. Treasury eventually took unprecedented measures to cushion the blow. They cut interest rates to zero, extended unlimited credit to foreign central
... See more