COLUMN – Ought to we elevate charges on the danger of stifling development which is already slowing down, or do nothing and let inflation run amok? The dilemma is horrible, there is no such thing as a longer any apparent or essentially efficient technique.
Well being and financial disaster within the time of Covid, looming meals disaster… What if the following surge was additionally monetary? On this entrance, feverishness is in all places. The world inventory markets are dropping considerably, almost 20% drop in six months in New York, Paris or London. Cryptocurrencies, led by bitcoin, plunge a lot tougher. The robust and brutal rebound in rates of interest final week prompted the ECB to fulfill urgently to rescue the weak hyperlinks within the euro zone, notably Italy. International finance is feverish and concern is gaining financial and political gamers. Nothing good.
The way to clarify such already perceptible and never at all times comprehensible tremors? They’re largely the consequence of the insurance policies of huge liquidity injections carried out lately. This simple cash coverage pushed private and non-private spending, and favored the creation of bubbles.
For years, companies…