Sublime

Central banks & other monetary policy authorities:

Argentina was badly served by the global institutions on which it had come to depend. Nations experiencing reversals of the sort Argentina was undergoing in 2000–2001 should be able to count on the international community for well-designed support to break their falls; at the very least, rescue attempts are supposed to alleviate damage, not exacerb

L’extension ad vitam des soubassements de la nouvelle normale des banques centrales fait frémir parce qu’elle signe le retour des taux d’intérêt politiquement contrôlés et d’un monde dans lequel la dette cesse de constituer un levier de chantage à disposition des créanciers.

Each took place at a time when conflicting demands on finite government resources were high, and rentiers wielded reduced political power.6 Currently we’re beginning to see the financial oppression in developed countries. In the United States, the United Kingdom, and Europe, governments have forced their social security funds to only buy government

This squares solidly with the work done by Rogoff and Reinhart, showing that when the debt of a country reaches about 100 percent of GDP, there is a reduction in potential GDP growth of about 1 percent. As we wrote earlier, government debt and spending do not increase productivity. That takes private investment. And if government debt crowds out pr