Comment by eru
3 days ago
These crises are manufactured by the central banks.
Compare and contrast how the dot-com bust did _not_ lead to global financial crises. Nor did Black Monday, nor the recent string of bank failures in the US.
('Manufactured' above means that central banks are responsible. I make no judgement on intent here. Around 2008 it was incompetence by the Fed and ECB as far as I can tell. The Fed started paying interest on excess reserves and the ECB even increased rates. Twice. Amongst quite a few other missteps.)
The computer price crisis is also the fault of central banks, since they printed the money and gave it to the AI companies to buy everything with.
Not really. Central banks don't really control relative prices.
They control the allocation of new money.
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