Pakistonomy - Episode 149 - Is the US on the brink of another financial crisis?
Pakistonomy
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The Global Financial Crisis
For much of the decade, as I said, of the 2010 to 20 period, the policy rates in the US were basically at that zero low value. So we saw a number of major central banks around the globe commit to asset purchases on a very large scale. And so in the US, the balance sheet balloons quite dramatically. But for a number of reasons, you know, that money didn't sort of translate into excessive capital formation and investment and borrowing.
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