The Rise And Fall Of Monetary Policy - Ian Macfarlane
The Joe Walker Podcast
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The Importance of Inequality in the Global Economy
In the US, it's roughly equal to the global saving glut in terms of its impact on pushing down rates. The other point that Sufi made to me recently by email was that if you treat the global economy as a closed system, the global side falls out. Germany and China are current account surplus countries in large part because of inequality within those countries. So ultimately, it boils down to a question of inequality.
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