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The Price of Time | Edward Chancellor & Joseph Wang
Forward Guidance
The History of Interest Rates
I think it's basically a policy of some central banks post-Grief and Agriasis to keep interest rates low, to kind of fuel speculation and wealth effects. In other words, what he's saying there is that not only do people chase speculative valuations, but they also even at times are sort of easy money or very low interest rates pursue commercial business ventures. I mean, we see that in low interest rate phenomenon very clearly.
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