Comment by seertaak
2 months ago
Sorry, when you say "gloriously free market", do you mean whatever it takes EU, helicopter money (or, rewinding a decade, Greenspan put) US, or factory of the world China? :)
My point is that it's not a real market economy if the risk premium -- and in China's case, the exchange rate -- is rigged. And it has been, since the 90s.
EDIT: For clarity, I'm agreeing with you, since you were being facetious.
What about even earlier? Like the petrodollar?
Absolutely! -- and we could play this game for a long time ;)
The right way of looking at it is, there was tiny little interlude of something vaguely approaching the free market -- back when Volcker was in charge.