Yes, pumping fiat debt into non productive speculative assets does that. This is a problem when fiat bankers gain power over politicians and win the right to issue fiat debt toward any purpose rather than fiat debt capital issuance being restricted to funding purposes which are productive.
This is exactly what happened in the neoliberal era of bank deregulation and ever since the wests productive capacity and competitiveness has decline and non productive speculation, especially in housing has crippled our productive economies.
Commercial bankers must be restricted to only funding productive purposes- but this has not been the case for many decades now and is one of the major root causes of the decline of the west.
Yes, pumping fiat debt into non productive speculative assets does that.
This is a problem when fiat bankers gain power over politicians and win the right to issue fiat debt toward any purpose rather than fiat debt capital issuance being restricted to funding purposes which are productive.
This is exactly what happened in the neoliberal era of bank deregulation and ever since the wests productive capacity and competitiveness has decline and non productive speculation, especially in housing has crippled our productive economies.
Commercial bankers must be restricted to only funding productive purposes- but this has not been the case for many decades now and is one of the major root causes of the decline of the west.