Why the "Liquiditists" should study History!
Liquidity does not drive the Business Cycle. And severe Recessions can set in despite massive liquidity inflows. Why? Because the Economy is not driven by liquidity alone. It is driven by range of factors - but mainly by consumers.
This is what the "Liquiditists" get wrong - and why they believe that we are "E…
Listen to this episode with a 7-day free trial
Subscribe to Henrik’s Portfolio to listen to this post and get 7 days of free access to the full post archives.