What’s Crypto Good For? Corruption, Exploitation, and Billions for Insiders
As with the subprime lending crisis, crypto appears to be more of an example of predatory inclusion than enhancing financial access.
1 min read
...this week (sorry about that!):
UK business investment falls at fastest rate since records began in 1966, despite rock-bottom interest rates (well, not quite at US levels, but...). Once again, super-lavish quantitative easing proceeds are being hoarded by banks.
The number of Americans working part-time for lack of full-time work has, in an astonishing development, almost doubled since the beginning of last year. Thanks to Calculated Risk.
According to Commerzbank economists, the economic crisis has cost the world $10 trillion so far (or, more specifically, will do so by the end of this year). This article, from
, is in German (note: in German, like in British English, a billion is a trillion, while a 1,000 million is a billion). The researchers, who assumed that world growth would have been the same as in previous years without the crisis, claim that losses in the US and UK from real-estate amounted to $4.65 trillion, while measures to save the banking system and whatnot have added on another $4.2 billion.