COLUMN – Ought to we elevate charges on the threat of stifling progress 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 subsequent surge was additionally monetary? On this entrance, feverishness is in all places. The world inventory markets are dropping considerably, practically 20% drop in six months in New York, Paris or London. Cryptocurrencies, led by bitcoin, plunge a lot more durable. The sturdy 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. World finance is feverish and concern is gaining financial and political gamers. Nothing good.
The best way to clarify such already perceptible and never at all times comprehensible tremors? They’re largely the consequence of the insurance policies of large liquidity injections carried out in recent times. This straightforward cash coverage pushed private and non-private spending, and favored the creation of bubbles.
For years, companies…