The federalization of American finance didn't come of a clear, blue, free-market sky. The government has met every cyclical disturbance since 2000 with lower interest rates and heavier applications of what is fastidiously called "financial repression."
~ Jim Grant, "A short history of making things worse," Grant's Interest Rate Observer, May 1, 2020
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment