"The Economy" is Hell: On Overproduction and Crypto / Trevor Jackson
This Is Hell!
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The Dangers of Low Interest Rates for the Environment
Low interest rates underpinned the huge investments necessary to produce the shale boom in US fossil fuels. There is no greater example of the problems of overproduction, negative externalities and market failure. Low interest rates could have been used to build a national solar powered high speed rail network. Instead we inflated a bunch of asset bubbles,. real estate bubbles, shale boom, cryptocurrency, you know, all sorts of ridiculous things.
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