![]() ![]() They are diverting the huge bubble in the global broad money supply, into a new ‘green bonds economy’, rather than into very many actual investments in renewables. So the owners of the big dirty corporates are spotting an opportunity. To keep interest rates low, most central banks monetized that debt, injecting large sums of money into their economies – between December 2008 and December 2013 the global money supply increased by more than 35%.” Treasuries issued new public debt – totaling $9.1 trillion since 2008 – to pay for the additional expenditures. “Financial stabilization and stimulus programs that started in 2009-11, combined with lower tax revenues in 2009-10, required most countries to run large budget deficits. ![]() This is in the context of a global economy in which there is a huge over supply of money.
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