The Moral Hazard That's Been Created by the Central Banks

Noreel Reelis: The lack of acknowledgement of moral hazard that's been created by the central banks and how painful it is in going to be to unwind that. We democratized finance because people wanted to keep up with their Joneses, he says. People were using their home as an ATM machine; now we have this day training on Robinhood - young people are gambling their future at a very high level. He believes they're trying to fight inflation by increasing interest rates which will cause a hard landing of financial markets,. equities, private equity, real estate and so on. This year everything has gone down but I don't see them being able to get out from under