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Nick Szabo· 2026-04-06 06:12
RT Handre (@Handre)The global economy crashes every few years like clockwork, yet economists keep pushing the same failed solution: more cheap money and lower interest rates.Here's what actually happens. Banks create money out of thin air to fund loans at below-market rates. Entrepreneurs, seeing cheap credit, launch projects that look profitable only because money costs less than it should. But this artificial boom rests on a foundation of sand. The economy lacks the real savings needed to complete these i ...