The Central Bank has been printing fiat money which is given to large capitalists to invest in the naive hope that these capitalists will invest in infrastructure, goods and services. When they don’t, the Fed, rather than punishing the capitalists with more rigorous interest rates, does nothing except create more free money. The bubble grows between the financial and real economy as the life of the lower classes deteriorates from lack of Fed or capitalist investments. Great 25 minute conversation!
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