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The Cost of Letting This Happen Over and Over Again
How many times can they do bail-ins, bail-outs before they can't anymore? It doesn't seem sustainable without causing hyperinflation. I think it's just an increasingly large chunk of overall investment and spending that remains privatized in a pro-cyclical pro-crisis regime. The ability to get a loan to make the casino is competing directly with the real resources that the school wants in that particular town. So bank credit as a source of demand is in competition with public investment as a sources of demand.