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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label fiscal dominance. Show all posts
Showing posts with label fiscal dominance. Show all posts
Sunday, October 18, 2026

Stagflation Part 18: Philippine Banks as Shock Absorber — Record Lending, Record Bonds, Record Hiding Places

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   But the boom cannot continue indefinitely. There are two alternatives. Either the banks continue the credit expansion without restricti...
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