Easy Money
The Memo by Howard Marks
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The Impact of Low Interest Rates on the Economy and Investor Behavior
This chapter discusses the significant impact of low interest rates on the behavior of participants in the economy and the markets. It explores how low interest rates encourage spending and investment, lift asset prices, and lead to risk-taking among investors. The chapter also highlights the consequences of easy money and low interest rates, such as higher inflation and the potential for malinvestment.
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