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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 welfare culture. Show all posts
Showing posts with label welfare culture. Show all posts
Wednesday, November 14, 2012

Negative Real Rates Breed Ponzi Schemes

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I have been saying here that negative real rates will not only drive people to gamble but to fall prey to Ponzi scams I wrote last Marc...
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