fnew on Nostr: The heart of this for me is that easy money creation, and cheap debt, led to a boom ...
The heart of this for me is that easy money creation, and cheap debt, led to a boom in company acquisitions - where companies like Thames Water were bought with newly created money in the form of cheap debt, for which the target (the water company) pays. This is the reason there is no money left for maintaining their infrastructure - they have to spend it all on debt servicing
It was brilliant for you if you were the buyer, but generally terrible for the target company (and by extension in this case, everyone who needed to drink water).
It was brilliant for you if you were the buyer, but generally terrible for the target company (and by extension in this case, everyone who needed to drink water).
harquoting note1apv…cukxModern financial systems are designed to benefit the elite, often at the expense of ordinary citizens, shaping society through the intertwined forces of debt and politics. New interview with @freddienew.
Listen: https://open.spotify.com/episode/5b2lZTTo7yaxWhx4uk8UIq?si=5c0a9237680442ee
Watch: https://youtu.be/gN_xLNQKfSo