Once upon a time, economic crises could spur a run on the banks, when the investors pulled out their money and the banks had none.
Today, we are having a run by the banks, where the banks have pulled all (?their?) money out of the economy and are sitting on it while they wait to see what will happen. Meanwhile, the rest of us will have none.
So what did our $700 billion buy us?
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Saturday 10 October 2020
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