Castle in the Clouds
High inflation and overstretched central banks: a large number of crises have shaken our prosperity. Is he just an illusion?
- Overstretched central banks, over-indebted states, a weak economy: the world economy is entering a new phase – Germany and the USA are on the brink of recession and the debts of many countries are alarmingly high.
- The years of low central bank interest rates and large amounts of new debt are now bringing high inflation rates, which many economists believe will probably continue for years to come.
- The central banks are also to blame for this, having made a blatant misjudgment of price dynamics. A correction is now required – which will be accompanied by great collateral damage.
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Princeton economist Marcus Brunnermeier calls on central banks to put pressure on governments. Read here why the fight against inflation can hardly be won without this fiscal policy discipline.
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