This is how the narrative is now being spun to prevent stress in the highly indebted eurozone. They don't mention that the ECB and its national member central banks have been buying up all the crap that nobody wants on their balance sheets since 2014.
628 sats \ 3 replies \ @siggy47 28 Nov 2023
How is it explained in the article? They can't be claiming anything but a junk bond type play, right? The numbers all over southern Europe are terrible.
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1034 sats \ 2 replies \ @TomK OP 28 Nov 2023
They pretend the free market is absorbing the new issued debt. To have some background: since 2015 the ECB was nearly the only buyer (via a deal with the commercial banks). Than there were ongoing media campaigns to push retail into the bond market via fonds. It's terrible
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677 sats \ 1 reply \ @siggy47 28 Nov 2023
Buying their own crap is one thing, but pushing citizens to also buy is beyond the pale.
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1034 sats \ 0 replies \ @TomK OP 28 Nov 2023
It's highly unethical. I remember the german finance minister (!) some months ago coming out again and again pushing the ''now it's time to buy our bonds'' narrative. I know him for over 25 years personally quite well and must say there is no understanding that this is an intervention with a conflict of interest.
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50 sats \ 3 replies \ @faithandcredit 28 Nov 2023
Its getting to a point where people are taught how to read only so they can control them
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0 sats \ 2 replies \ @TomK OP 29 Nov 2023
Wasn't that always the goal of public education?
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25 sats \ 1 reply \ @faithandcredit 29 Nov 2023
I think there was a brief period where the goal of school was to create powerful and independent people :) But its all institutionalized now and on rails off a cliff
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0 sats \ 0 replies \ @TomK OP 29 Nov 2023
Do You know who invented the rows in the classrooms? Von Humboldt in the 19th century to organize the state education for the king of Preussen (Prusia). He as a humanist gave in to the desire of the crown to ''educate'' people who would serve the state or the military. There is no humanistic public education. The state needs slaves
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0 sats \ 0 replies \ @ShortSimon 28 Nov 2023
Once the tide turns, you might as well got with it.
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0 sats \ 0 replies \ @BitByBit21 28 Nov 2023
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