Behind the Memo: Easy Money with Howard Marks and Edward Chancellor
The Memo by Howard Marks
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The Impact of Interest Rates on Capital Flows and Innovation
This chapter explores the complex relationship between interest rates, capital flows, innovation, and resource waste. It discusses the effects of low and high interest rates on investments, highlighting the reach for yield and speculative investments that can result in failures. It also mentions the potential stifling of innovation with high interest rates and the bubble in technology that can benefit society but not investors.
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