The interest rate crisis has just begun
Making Money
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Rising Rates and Economic Disparity
This chapter analyzes the impact of rising interest rates on the economy, emphasizing the plight of 'zombie companies' and their contribution to stagnation. It discusses the widening inequality as asset owners benefit from low rates while others struggle, particularly focusing on the predatory nature of payday loans and exploitative practices faced by the less wealthy. The chapter critiques the financial system's inequities, drawing historical comparisons to highlight the consequences of distorted interest rates and the intertwining of finance and politics.
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